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Thread: The US is BUSTED BANKRUPT

  1. #31
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    Default

    Quote Originally Posted by zengrifter View Post
    According to some it only takes one big financial failure, just like one big nuke power failure.
    One nuclear failure, I assume you mean catastrophic failure, not everyday failure, would rarely result in a worldwide disaster-- even Fukushima did not do that, and will not even if the last unit melts down. It might cause some problems in the Pacific area, but nothing likely for the rest of the world IMO. If the one financial failure is the U.S., I believe it could cause the worldwide system to fail, as we are so interlinked with all the other fiat systems. The nuke failure is not interlinked, so all its damage has to be done by it and it alone. But I get your drift.
    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

  2. #32
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    Post U.S. Fiscal Circumstances Simply Are Not Sustainable

    "The 2012 fiscal condition of the United States suffered its worst annual deterioration in the history of the Republic. Based on generally accepted accounting principles (GAAP-based accounting), the actual federal deficit hit a record $6.6 trillion in the year ended September 30, 2012, a level that was fully 42% of the nation’s annual GDP.


    "The GAAP-based annual deficit differs markedly from the headline cash-based accounting version, which showed a $1.1 trillion cash shortfall in the government’s 2012 day-to-day operations. Using GAAP-based accrual accounting, though, as typically used by private corporations, the government’s day-to-day operations were shown to have suffered a shortfall of $1.3 trillion, with an additional $5.3 trillion shortfall in the year-to-year increase of unfunded liabilities in social programs, such as in Medicare and Social Security. Those unfunded liabilities are reported in terms of net present value (NPV), where future liability dollar estimates have been reduced to reflect the time-value of money. Effectively, the NPV indicates the amount of cash needed in hand today in order to meet those unfunded obligations."

    Read more at: http://www.shadowstats.com/article/n...financial-data

  3. #33
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    Default Why Money is Corrupted

    Last edited by zengrifter; March 15th, 2014 at 04:51 PM.
    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

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