Thursday, July 21, 2011

Someone I know had posted this.  A visualization of US Debt

Interesting visual but I always wonder why people make such a big deal out of "debt" -that website also gives numbers for all the "developed" countries in the world, all run at debt. That's how governments work in capitalism. The debt gives the value of the currency in circulation. If there were no debt, there would be no currency circulating. The US has the largest debt, because we are the world's currency.   Who will call in this debt? Do banks have the power of the military to get the government to hand it over? To countries around the world intend to call in this debt against us?  NO.  They may devalue us, or say our goods aren't worth as much, or stop trading with us all together... but it would hurt them as much as it did us. Take our trillions out of circulation and the markets of the world all fall apart.   Debt is a symbol just like money is a symbol. The reality is we either have the goods (backed by our military) or we don't.

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