Debt

[Fransisco]

Check [URL="http://demonocracy.info/infographics/usa/world_debt/world_debt.html"]this[/URL] out.

[liberty]

I continue to be amazed at how investors worldwide flock to the U.S. dollar every time some financial basket case like Greece pukes, which is exactly what is happening this very day. U.S. dollars are being cranked out by Ben the Bernank at a rate that is starting to look like a repeat of the Weimar Republic fiasco, and yet investors can't get enough of them. I just don't get it.

There's going to be a day of reckoning for all this fiscal stupidity. What we're seeing in Europe is only the tip of the iceberg.

[liberty]

While Canada's overall debt may be manageable, that may not be the case for many homeowners who are increasingly involved in frenzied bidding wars to purchase a home thanks to absurdly low interest rates. Keep in mind that homes are not investments, but simply consumer goods. The distinction is critical.

http://www.economist.com/node/21546057

The article opines that when this bubble pops we will likely have a "soft landing" but isn't that what everyone said about the American housing market pre-2008?

A friend of mine recently refinanced his cottage at 2.5% for five years. At the time, he was asked if he would like to throw in a vehicle purchase with his mortgage. He declined, because he was aware that this was common practice in the U.S. pre-2008. If this is becoming common practice in Canada, what are we in for?

[tubs]

and alberta is well on its way with Allison the Red

[GreenValley]

Thumb up. Good find. Do US Federal
Reserve has backup money like gold in
Fort Knox or in NY? We want to know
wheather gold in Fort Knox is there or
not. If it is not there. Then US better
find new fiat money system and who will
be.

wow that alot of debt and good picture
showing.

[tmyrfield]

there isn't enough gold in the whole world to cover off US debt and unfunded liabilities.http://usdebtclock.org/
5.8 billion oz. at 1700 per equals 9.86 trillion.

[cottonpicken]

The number is 12,000 something ish per ounce to
balance the usdx debt.

[tmyrfield]

from zero hedge

Finally, we need to consider the over the counter derivatives market. Currently 82% of the $248 trillion in derivatives sitting on US commercial bank balance sheets are based on interest rates. If even 2% of these contracts are “at risk” and one quarter of those “at risk” contracts blow up, you’ve wiped out all equity at the five largest US banks.