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Dictatorship USA – Run By A Plundering and Murderous Ruling Class — 2019 (228)
As The Economy Teeters On The Brink Of Recession, US Debt Levels Are Absolutely Exploding
TheEconomicCollapseBlog, March 6, 2019
We now have official confirmation that the U.S. economy has dramatically slowed down.
According to the Atlanta Fed’s GDPNow model, the economy is growing “at a 0.3 percent annualized rate in the first quarter”…
For years, the goal has been to get U.S. growth above the key 3 percent threshold, but what this forecast is telling us is that economic growth is currently at one-tenthof that level.
That is just barely above recession territory. We are teetering on the brink of a recession.
We also just got some really bad news about construction spending. Construction spending fell 0.6% in December from November, based on a seasonally adjusted annual rate, released today by the Commerce Department. Compared to December a year earlier, total construction spending inched up only 0.8% (not seasonally adjusted), the lowest growth rate since Oct 2011, coming out of the great recession.
Meanwhile, debt levels in the U.S. just continue to explode.
Americans now have 480 million credit cards. That is about 100 million more than during the last recession. There are about 1.5 credit cards for every man, woman and child in the entire country.
The total amount of credit card debt in the United States has now reached a whopping $870,000,000,000. That number has never been higher in the history of our nation.
And when you total up all forms of individual debt, U.S. consumers are now 13.5 trillion dollars in the hole.
Corporate debt levels are exploding as well. U.S. nonfinancial corporate debt consists mostly of bonds and loans. This category of debt, as a percentage of gross domestic product, is now higher than in the prior peak reached at the end of 2008.
The lowest level of investment-grade debt, BBB bonds, has grown from $800 million to $2.7 trillion by year-end 2018. High-yield debt has grown from $700 million to $1.1 trillion over the same period.
Overall, corporate debt has more than doubled since the last financial crisis, and that is just one of the reasons why our financial system is far more vulnerable today than it was just before the last financial crisis.
The federal budget deficit is exploding as well. According to a report from the Treasury Department released Tuesday, the budget deficit — that is the difference between what the federal government takes in and what it spends — hit $310 billion in the first four months of fiscal year 2019.
The deficit increased by 77% compared to the same period the prior year. A 77 percent increase in one year!!
We are on pace to add way over a trillion dollars to the national debt this year. For the first four months of this fiscal year, interest payments on the U.S. national debt hit $192 billion, $17 billion, or 10% more than in the same four-month period last year. Annualizing the $192BN interest expense means that the interest on U.S. public debt is on track to reach a record $575 billion this fiscal year, more than the entire budget deficit in 2014 ($483 BN) or 2015 ($439 BN), and equates to 2.7% of estimated GDP, the highest percentage since 2011.
Our national debt is an threat to the continued existence of our nation. We are drowning in far more debt than just prior to the financial crisis of 2008.
The stage is set for the most terrifying economic horror show in American history, and the clock is ticking with each passing day.
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Перед нами - коварный и опасный мошенник, расист, лжец и фашист Дональд Трамп, порочный Конгресс, нацистские ФБР - ЦРУ, кровавые милитаристы США и НАТО >>> а также и лживые, вредоносные американские СМ»И».
Нынешние киевские власти — фашистские агенты американского империализма... Именно то, чего хотят Трамр/ США и в Венесуэле!
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Правительство США жестоко нарушало мои права человека при проведении кампании террора, которая заставила меня покинуть свою родину и получить политическое убежище в СССР. См. книгу «Безмолвный террор — История политических гонений на семью в США» - "Silent Terror: One family's history of political persecution in the United States» -
http://arnoldlockshin.wordpress.com
Правительство США еще нарушает мои права, в течении 15 лет отказывается от выплаты причитающейся мне пенсии по старости. Властители США воруют пенсию!!
ФСБ - Федеральная служба «безопасности» России - вслед за позорным, предавшим страну предшественником КГБ, мерзко выполняет приказы секретного, кровавого хозяина (boss) - американского ЦРУ (CIA). Среди таких «задач» - мне запретить выступать в СМИ и не пропускать отправленных мне комментариев. А это далеко не всё...
Арнольд Локшин,
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