National debt closing in on GDP

Discussion in 'Economics' started by bond_trad3r, Apr 1, 2009.

  1. National debt is currently 11.1 trillion and rising several hundred billion a month. GDP is currently 14.1 trillion and falling.

    The $3 trillion gap may take 2 or 3 years tops to reach.
  2. Geometric series is a bitch.
  3. There are only three angles to this what ever the amount of debt. We get rampant inflation to make this debt look cheap, we fail to find a buyer for the increasing amount of debt and go bankrupt or we get lucky and stay afloat like GM with some one buying into our plight.

    With Bush’s and Obama’s reckless spending we will be very lucky to stay afloat. If bankruptcy looms our fiat currency will become worthless and we will have to barter or pay in gold. If we do manage our way through this it will probably be with a free falling dollar.