So the spectacle of the G20 summit is all done and dusted. For - TopicsExpress

So the spectacle of the G20 summit is all done and dusted. For those of you that were enthralled by President Obamas speech at the University of Queensland on Saturday and thought his pledge of US$3 billion towards climate change was tremendous, a reality check is called for. The US national debt is sitting just shy of $18 trillion. Its a figure we hear bandied about quite a bit and it sort of just rolls off the tongue but its not until you hear what that means in terms of a regular citizen and how much is attributed to them that you can get some perspective: It means each and every citizen (men, women, children) owes $56,175 It means each and every taxpayer owes $153,268 But this is just the federal governments debt (i.e. whats currently outstanding in treasury bonds and other securities). If you look at ALL debt the pictures even more unbelievably alarming: Total US debt (household, business, federal, state & local government, financial institutions) is $59½ trillion. It means each and every citizen (men, women, children) owes $186,270 It means each and every family owes $729,576 (source is from usdebtclock.org which sources from the Federal Reserve). Many other nations hold massive amounts of the Fed issued securities (particularly China). It is not out of the question that the US could default (money printing only works for so long before the jigs up and the dollar is seen to be the house of cards that it is). If that was to happen the ramifications globally will make the 1929 crash and subsequent depression look tame. This is an unprecedented catastrophe in the making. So while President Obama is terribly charismatic and a hell of a nice guy, theres a cataclysmic disaster unfurling behind the scenes. THIS is what we all need to become aware of. THIS is what will bring the entire world unstuck way before the dozen or more other things that has everyones attention. Watch this amazing infographic presentation from demonocracy.info to get some idea of what this mega mountain of debt looks like in physical $100 bills: https://youtube/watch?v=jKpVlDSIz9o

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