This is perfect!  The mess we're in, explained in laymen's terms everyone can understand. Completely brought down to earth. Who can comprehend a trillion, anyhow? I certainly can't. Neither can you :)

PLEASE share this with all your friends, acquaintances, and relatives. It's a 1 minute must-read!

Economists would say running an annual deficit is one way to manage the economy during a recession. And if public spending does not create growth, then more borrowing, taxation and finally money printing and default deals with a nation's debts.  Of course, it becomes a bad credit risk as far as the world is concerned reflected in currency debasement and a nation has to rely on the personal savings and wealth reduction of its people to survive.

However, the new art and science of financial engineering perfected in the West by its institutions seeks advantages when trading globally and tries to get at some of the wealth now being created in Asia and elsewhere. Also, there is the current situation of US/China mutual dependence which is helping to keep the ship afloat for a little longer. In the end, the world has to balance its books and new nations will prosper at the expense of old ones. Beyond the concept of a fair exchange of goods and labour, any financial gain is someone's loss, and the world becomes a giant casino if money takes priority over constructive mutual engagement.  

Huh?

Economists would say running an annual deficit is one way to manage the economy during a recession. And if public spending does not create growth, then more borrowing, taxation and finally money printing and default deals with a nation's debts.  Of course, it becomes a bad credit risk as far as the world is concerned reflected in currency debasement and a nation has to rely on the personal savings and wealth reduction of its people to survive.

Some economists say debt during a recession is a good thing; helps 'stimulate the economy'.

Since that hasn't really worked, we've just continued on borrowing money and creating money out of thin air; helps 'stimulate the economy'.

This isn't looking too good, and getting worse day by day.

However, the new art and science of financial engineering perfected in the West by its institutions seeks advantages when trading globally and tries to get at some of the wealth now being created in Asia and elsewhere. Also, there is the current situation of US/China mutual dependence which is helping to keep the ship afloat for a little longer. In the end, the world has to balance its books and new nations will prosper at the expense of old ones. Beyond the concept of a fair exchange of goods and labour, any financial gain is someone's loss, and the world becomes a giant casino if money takes priority over constructive mutual engagement.  

The real problem is that all this 'helps stimulate the economy', really should mean, 'helps stimulate the wallets of the elite'; banksters, corporations, etc.; not the average joe like you and me.

What's going to happen eventually, is all these countries 'playing' the borrowing game, are eventually doomed. Its like a bad relationship, where no one wants to admit anything is wrong; because the 'now', is better than the 'break up'; yet this mentality makes the future break up even worse.

Other countries will benefit from our downfall. While we're busy breaking up, our friends are going to be out, meeting new people, and not wanting to deal with such an ugly mess we're going through.

If people weren't so greedy, everything might be okay today. But, no, man has come to serve mammon and turned away from God; and this is why we're in the situation we're in. Good luck to us. Pray.

I read from a reliable source that the actual US Government Debt is actually 175 Trillion dollars
 and going up if all the off budgets  items are included such as social security, medicare. pensions
foreign aid, current, and future commitments, etc etc.