tag:blogger.com,1999:blog-3758330678390419129.post8252349952390250444..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: A Conspiracy to Hide the Truth: Why the True U.S. Government Debt is $205 TrillionRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-3758330678390419129.post-24909811665370867622014-03-02T17:43:05.217-05:002014-03-02T17:43:05.217-05:00It ends when the dollar ceases to be used as the g...It ends when the dollar ceases to be used as the global reserve currency. When that happens the dollar will be completely worthless and no one will accept it outside of our country for payment. Which means no oil, no food imports, no merchandise imports, no.. well you get the idea. The only thing, and really it's the only thing, that gives the U.S. dollar any value whatsoever is the fact Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-75371766717763746812013-11-09T23:56:06.402-05:002013-11-09T23:56:06.402-05:00So in order to meet the future debt obligations or...So in order to meet the future debt obligations or implied obligations (since SS and some others are not technically owed to us right?) the US gov would need to have 205T in the bank right now earning 5% over the next 75 years. Thanks! <br /><br />To Wags, I think it does matter, because better understanding of the his massive debt obligation may help to open other peoples eyes to this crazy Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20308319782199999082013-11-09T21:07:20.548-05:002013-11-09T21:07:20.548-05:00Wags, it didn't matter as much until 1971 when...Wags, it didn't matter as much until 1971 when the last semblance of discipline disappeared along with Bretton Woods. Since then, we've been on a runaway train with no brakes. Works fine until that last sharp curve atop a sheer drop. It will end.Dan in Nevadanoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-68871504829593728442013-11-09T18:22:04.146-05:002013-11-09T18:22:04.146-05:00Does it really matter? They are going to keep pri...Does it really matter? They are going to keep printing money as long as they can get away with it. It's lasted 100 years so far, so there's no telling how long it could keep going. Wagsnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-7274362677394466942013-11-09T17:49:53.839-05:002013-11-09T17:49:53.839-05:00I believe 75 years out is correct, also. I think t...I believe 75 years out is correct, also. I think the $205Trillion figure is the PV of the federal liabilities out 75 years and assuming a 5% return. So, if you were able to invest $205T today and earned 5% per annum, you could cover your costs and end at zero in 75 years.Dan in Nevadanoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-55470920189174370382013-11-09T17:15:00.366-05:002013-11-09T17:15:00.366-05:00from what I understand the long term budget estima...from what I understand the long term budget estimates from the CBO are 75 years out, Prof. Kotlikoff's projections are also 75 years I think. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-38409648311857602832013-11-09T15:18:54.117-05:002013-11-09T15:18:54.117-05:00Good question StarGazer. I've heard the 200T ...Good question StarGazer. I've heard the 200T estimate before, but I'd like to better understand what that means. Is that what is owed over the next 10, 20, 30 years? Thanks to anyone who helps me better understand what the 200T represents. PS: I have not listened to the interview yet, sorry if it was answered in there.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-18293482972578628202013-11-09T14:46:43.808-05:002013-11-09T14:46:43.808-05:00What is the net present value of the $205T? That w...What is the net present value of the $205T? That would be the most realistic estimate of the debt. (I suspect that is only somewhat less untenable, but still untenable.) This will not end well.StarGazernoreply@blogger.com