Economic pressures

[Danny B]

Trump is 'the end' of central banking as we know it: Fund manager


"Bonds around the world had their steepest two-week loss in at least 26 years"
Global Bonds Post Biggest Two-Week Loss in Quarter Century - Bloomberg
Amazing, when did Bloomberg figure that out?
Here's a chart of interest rates for the last 200 years. They have dropped like a stone. http://fm.cnbc.com/applications/cnbc...REST_RATES.png
AMAZING, You create the most gigantic bubble of faux money the world has ever seen AND,,,, you can't seem to collect any interest on the money.
200 years of US interest rates in one chart

[Danny B]

Deflationary trap yet, growing debt,,,, FEDcoin,,, helicopter blockchain

"UK Financial Services Authority chief Lord Turner is advocating a policy of debt monetization, with central banks financing major fiscal deficits. " Control "P" in hyperdrive.Perfect, my culo,,, they don't have ANY answers.
Lord Adair Turner on central banks, interest rates and printing money - Business Insider

"Two weeks ago we warned of the "unintended consequences" of Dodd-Frank which are likely to crush bond market liquidity. On the day of Brexit we got a glimpse of what can happen when the world's most liquid bond market suddenly isn't and as one veteran bond trader exclaimed today, US Treasury market liquidity is "worse than Brexit."
Following the worst two-week loss for bonds... ever..."
US Bond Market Liquidity Collapses: "It's Worse Than Brexit" | Zero HedgeCredit Bubble Bulletin: Weekly Commentary: As Exciting as the 1930s

"The debt, she noted, is already beginning to snowball. In the first two weeks of October alone it grew by $170 billion; between January and September, $1.4 trillion was added to the debt. "

Read more: https://sputniknews.com/us/201611101...gift-to-trump/
The debt is expected to surpass $20 trillion in less than eight weeks, and probably before Trump even steps into the Oval Office.
US Congress made a deal with the White House to extend the debt limit to $20.1 trillion until President Obama leaves office. "
"In his eight years in office, President Obama nearly doubled the national debt, from $10.63 trillion in 2009 to the above-mentioned $19.8 trillion today."

Jim Willie wrote a lot about America restructuring it's debt. This is just now coming into view in the mainstream. The PTB of America will fight hard to maintain out imports. How can we pay for them?

https://sputniknews.com/business/201611181047599745-us-debt-restructuring-prospects-analysis/

"President Obama's team and the liberal echo chamber lied about Obamacare from the start and covered up the financial time bomb that would soon detonate in Americans' laps."
"The only thing that has caught the left by surprise is that ObamaCare has burst into flames so much faster than even severe critics -- such as myself -- ever thought possible. "
"The ObamaCare insurance companies now want billions of dollars in a taxpayer bailout because the exchange's costs are in a death spiral."
"The average deductible for a family with a Silver plan now exceeds $6,400. "

http://www.investors.com/politics/columnists/stephen-moore-obamacare-implosion-exposes-web-of-lies-and-deceit/

https://www.caseyresearch.com/cm/project-fedcoin

http://www.zerohedge.com/news/2016-11-17/obama-pace-increase-debt-stunning-24-trillion-year

The lefties don't seem to make any distinction between productive debt and non-productive debt. They just expect the CB to print up whatever they want. The various CBs have printed up a couple hundred trillion$. They
really don't have any prospect of getting paid off. NOBODY has the money. The credit cycle has turned. Will the Central banks baulk at the idea of keeping the party going? Trump will need to CB to finance his programs. There is little chance that the CB will be able to convert it's treasury holdings into cash.


He waddles like a lame duck.
https://drive.google.com/file/d/0Bxw...iew?pref=2&pli
We don't need no stinking ethics.
What an original idea?

Not real yet!

[Danny B]

More butter,,,, fewer guns

Some years ago, the Pentagon and the alphabet spook agencies contacted Jim Rickards to kick off a "war games" exercise on the American economy. The conclusion was simple and straightforward. The crash was unavoidable. Jim said that the Central Banks would go bust AND, only the IMF had the horsepower to recapitalize the private banks and Central banks. They would do it with NEW IMF paper called the Special Drawing Rights.
A lot of nations are ditching the dollar right now. Why would they latch on to another fiat creation from the IMF?

General Eisenhower warned us against letting the military-industrial complex get too much power. The War dept was renamed the Defence dept. The military-industrial complex became the banking-military-industrial complex. The new and improved war dept proceeded to protect us from an invasion from North Korea and later, Viet-Nam.
The B.M.I. complex said that they would create lots of jobs defending America. Following the "broken window" school of economics, the produced lots of stuff to be destroyed.
All of this fit in well with the Wolfowitz doctrine that America should and would control the world. The old saying goes, "you can have guns or butter but, not both". Using our "reserve currency" credit card, we were able to have both. About 40 countries have pulled out of the U.S. dollar straitjacket.

I'm sure that this was foreseen by the spook group that Jim Rickards was heading. The B.M.I. complex still intended to have guns even if we couldn't have butter. They built camps for club FEMA to keep trouble makers out of the way. 6 military bases have been converted to hold criminals. The police state was instituted using the patriot act to justify it all in the name of antiterrorism.

The collapse is/was unavoidable. Killary was going to whip up a limited war with Russia to justify crippling austerity for us while the B.M.I complex got lots of war contracts. The second outcome of a war with Russia would be to poison trade between Russia and Western Europe. It seemed a perfect plan and Pox Americana was getting everything whipped up to a frenzy on the border of Russia. There were 300,000 troops on the border of NATO because the Russians were acting provocatively.

The war couldn't be kicked off until she had her a$$ firmly seated in the Oval Office. Promptly, we would get crashing austerity to keep the war alive. We would have all guns and no butter. Russia only has a GDP about the size of Italy. NATO could probably drag out the war until it bankrupted Russia. Syria would fall shortly there after. All that oil recently found in the Golan Heights of Syria would then all be stolen by their neighbor.

The obvious thing for Trump to do is to close the foreign bases, cut the Pentagon back to just continental limits and renounce world domination. This would free up a LOT of money that the B.M.I. complex was counting on.

JFK was a pretty straight shooter and had NO idea of how deadly his enemies were. At this point in time, Trump has even more enemies that JFK had. BUT, he is a lot more aware than JFK was.

" China has signed bilateral currency-swap agreements with 28 countries, while 14 global financial centres are now functioning as offshore clearing centres for the yuan. "
These currency swaps shove both the dollar AND the banks aside. The dollar will crash and we will get a replacement (Jim Willie) I doubt that the SDR will fly. We may get a digital currency based on the blockchain. Dunno. We may get helicopter money. We may even get a universal basic income.

If we renounce war, our debt holders may cut us some slack. I'd rather have butter than guns any day.

Saudi has made it clear what they think about peace with Russia; Donald Trump striking a Syria deal with Russia would be ?most disastrous step possible?, Saudi Arabian prince warns | The Independent
The feces-for-brains Wahhabis want to annihilate Iran and Russia is blocking them. Stupid Saudis;
"MOSCOW - Russia and Iran are in talks over an arms deal worth around $10 billion "
"Iran and China signed a deal to enhance cooperation between the two nations.
The military agreement between Tehran and Beijing entails increased bilateral training coordination and closer alignment on what the Iranian regime sees as regional security issues."

[Danny B]

Financing Trump's infrastructure plan

Well, Trump has declared war on the deep State. It remains to be seen how the deep State will fire back.
Crosspost: Fear And Loathing Inside The Deep State | Zero Hedge
Something tells me that it ain't going to be pretty.
One of the centerpieces of Trumps plans is a big investment in infrastructure. This is a general outline of the plan: What Will Trump Do About The Fed, The Debt Ceiling, And Trade: His Key Economic Advisor Explains | Zero Hedge

Ellen Brown has some thoughts on how he can do that.
Trump?s $1 Trillion Infrastructure Plan: Lincoln Had a Bolder Solution - Truthdig
She also has ideas on how it should be paid for: Prop. 51 Versus a State-Owned Bank: How California Can Save $10 Billion on a $9 Billion Loan | The Huffington Post

No kidding! Who would have figured that; when you steal people's interest income, they are going to need more principle to survive?
They better get used to it. Populism is here to stay.

[Danny B]

https://www.theburningplatform.com/2016/11/20/grey-champion-assumes-command-part-two/

The America-centric rating agencies were frequently used to cause foreign monetary panics,,, that caused investors to flee to the safety of the U.S. dollar. Russia and China: Watch Out Moody’s, Here We Come! | New Eastern Outlookhttps://www.armstrongeconomics.com/w...our-destroyer/
The debt is rising faster than exponentially just as Trump is taking the helm. Don't expect him to work any miracles with the deep state opposing him.

[wayne.ct]

You're Fired

Not really. I don't have any employees and nobody to fire. But it seems Trump will soon have about 5 million employees that he can bully around. I don't know how many he can actually fire, but he has other ways to tilt the scales. He can call for resignations or sic the DOJ dogs on anyone with something to hide. He is already making waves in the swamp, so to speak. He already has 48 percent of the population prejudiced against him. What does he have to lose? (Plus, he has the Secret Service to protect him.) He has asked that question of others. I think the blame game is going to go into hyper drive.

Now here is what I am wondering. Inflation has been described as too much money chasing too few goods. Deflation is basically the reverse. I.e. too much inventory and too few buyers. My eyes tell me the stores are full of merchandise, i.e. deflation. The money supply, i.e. FED action, is ballooning meaning inflation. It looks like a train wreck, but what is the TRUTH? It seems like there are two parallel universes. The "haves" live in one and the "have nots" live in the other. Is that a valid assessment? Can "one percent" of the population control the 99 percent? They may try it but they have always failed in the past.

Is it not a looming crisis in confidence? What are the signs that confidence in the fiat system is failing? I have some ideas about that and I think it is happening. My guess is deflation will predominate until almost everyone has positioned themselves into one of the two polar opposite camps.

In camp one are honest people that trade out of fiat into durable assets as much as possible. In the other camp are less honest people that borrow as much they possibly can with the intent of somehow declaring bankruptcy or simply not paying their bills if it means eating or starving. Corporations also fit in two parallel camps, the details being expressed in other language. For example, a corporation's balance sheet can be loaded with paper assets and liabilities that may be largely imaginary and unenforceable. If management is at all less than honest they will naturally take what they can and protect themselves personally and let the corporation fail, etc., etc.

So I wonder, how many honest individuals and honest corporate managers are out there right now? I have to default to a 20/80 engineer's rule of thumb. I'd say at least 80 percent are dishonest. The hidden undercurrent of pervasive fraud will be exposed when the next big market disruption occurs and disrupts supply chains. It seems that way and I am wondering if I am right.

I don't think Trump is above pulling a few shenanigans of his own. It seems he has some amount of dishonesty in his past. The little guy on the street will just have to wait and see what happens. I put myself in that wait and see category while I move away from fiat.

[Danny B]

Moral decay

" History fails to record a single precedent in which nations subject to moral decay have not passed into political and economic decline. There has been either a spiritual awakening to overcome the moral lapse, or a progressive deterioration leading to ultimate national disaster."
Douglas MacArthur
A big part of what lead up to our moral decay is the corporate structure. It is well known that; if you remove accountability, you can expect crime. Not only is the corporation immune from prosecution in most cases, it is effectively immortal. Immortal and immoral. It prostituted every politician it came in contact with.

[Danny B]

Ah yes, geometric progression.OUCH

"Clearly, Trump is determined to succeed but running an insolvent economy in a virtually bankrupt world will be a lot harder than building a property empire. But he has made it clear that he is hell-bent on expanding the US economy at all costs. The problem is that he will probably spend more money than anyone can imagine. But sadly, he will be pushing on a string since borrowing and printing money can never repair an economy which is fatally broken."
Looking at the example of Japan, we see that you can not grow an economy that has a falling population. It is a downward spiral of falling wages,,,, smaller families,,, shrinking economies.

http://www.24hgold.com/english/news-gold-silver-trump-will-grow-us-debt-exponentially.aspx?article=9643015250H11690&redirect=false&contributor=Egon+von+Greyerz&mk=1

https://mishtalk.com/2016/11/21/end-of-euro-in-italy-renzi-faces-three-opposition-parties-all-rabidly-anti-euro/

The technocrats forced a union on Europe that had NEVER worked previously. As it crashed, the TTP was their solution. They have CONTINUOUSLY demonstrated a lack of understanding of what makes an economy work.

Man moved from an agrarian economy to an industrial economy. He is in the process for moving into an automated economy where the worker has to compete with machines and far fewer workers are needed. GOV tried to hire up all the slack labor but, this has run it's course and is no longer viable.
Automation is growing by leaps and bounds. If man can't come to some sort of accommodation, he must either die or revert to the agrarian economy.

[Allcanadian]

@DannyB

Man moved from an agrarian economy to an industrial economy. He is in the process for moving into an automated economy where the worker has to compete with machines and far fewer workers are needed. GOV tried to hire up all the slack labor but, this has run it's course and is no longer viable.
Automation is growing by leaps and bounds. If man can't come to some sort of accommodation, he must either die or revert to the agrarian economy.

Looking at the example of Japan, we see that you can not grow an economy that has a falling population. It is a downward spiral of falling wages,,,, smaller families,,, shrinking economies.

If as you say automation is growing by leaps and bounds then why would Japan's falling population be a problem?. It would seem to me a majority of people will have no real purpose in our future because there former purpose will become automated.

Consider that self-driving vehicles will replace almost everyone who drives a vehicle including automated farms, advanced MRI/ultrasound, Artificial Intelligence and robotics will replace pill pushing doctors and AI will also replace accountants, purchasers and pretty much all paper pushers. The obvious fact one cannot get around is that up to 50% of the people in the future will have no job and they will have no real purpose to exist other that to simply exist and consume more resources.

I believe this is why most growth based economies must collapse because people who's only purpose is to help other people to consume more resources is a losing proposition. If they are not part of any solution then obviously they are the problem and we cannot continue to consume more and more just for the sake of consumption... that is absurd.

What we will see very soon is a correction as whole economies implode upon themselves because they are unsustainable. It also explains these right wing populist movements by people who have been left behind. People who cling to the past when they had some purpose or relevance which is no longer the case. Sorry progress waits for no man and there is no going back.

AC

[wayne.ct]

Nobody is listening

Therefore, whatever I may say is rather meaningless. Communication has to have a receiver otherwise no communication has taken place. I agree with you, Danny and AC. You both have good points.

Trump is marching to his own drummer and won't hear me.

I'm just venting.

The only solution that I see is basically impossible because of human nature and the various people and parties involved would never do it because of their nature and instinct for self preservation. If they tried it they would be assassinated or marginalized, probably assassinated.

Trump should gradually but systematically reduce the payroll of the government to the point where it is less than the tax revenue. This may be impossible because interest payments to the banks would explode. Therefore there would need to be a second element. The actual interest payments to the banks would need to be frozen to a fixed number of dollars. The problem then is to know exactly what those numbers look like from moment to moment. Without additional borrowing and continuous borrowing it appears that taxes will not cover both payroll and interest payments. If the government has not reached that point already, it will reach that point at some point in the future as interest rates paid BY THE GOVERNMENT begin to rise. Therefore, to preserve government power at even a minuscule level, the government must take control over the banks. It must basically kill the banks and the FED. I think this is what got JFK killed.

It seems to me this resembles your basic bankruptcy scenario. The government declares bankruptcy and spurns the banks, essentially refusing to play according to what the bankers want. The government is saying we are bankrupt and instead of letting YOUR lawyers tell US what WE need to pay and who WE need to pay it to, WE will tell YOU who, what, where, when and how. The problem with this is who will be making these decisions and what will the banks do when they realize they have been snookered?

What they will do is basically what they are doing to Trump, etc. right now. Therefore there is not much to lose from Trump's perspective. With big government and big banks out of the big picture, the honest people that are out there can rebuild the economy.

We'll get a smaller government and less powerful banks one way or another. How much pain do honest people have to go through between now and then?

The battle seems to be between two sides both of which are corrupt and corrupted. I.e. government and the banks. Up until now, they have been working together and the people have been the victims. Has this changed?

I'm still willing to wait and hope but in the meantime I'm moving away from fiat as much as makes sense to me.

[Danny B]

Why Free Trade Doesn't Work for the Workers

News from the less-realistic side of the finance industry;
There is a huge dollar shortage and it will get worse. Only the FED can create dollars and there just aren't enough.

https://www.bloomberg.com/news/articles/2016-11-21/why-the-federal-reserve-must-become-the-world-s-dealer-of-last-resort

Moving on; The stronger the dollar gets, the harder it is for off-shore dollar-debt holders to service loans. The higher the returns on Treasury notes, the more money moves into the dollar. Interest rates are already moving up. Any raise from the FED would attract tons of money from the ZIRP bond markets. This would make the dollar even stronger.
Why Rising Interest Rates Could Be “Potentially Lethal” | Casey Research

[Danny B]

Maintaining ZIRP to keep the State functioning



In a ZIRP world, the State can do unlimited borrowing even though there is little prospect of payback. GOV printed up bazillions of currency notes and passed them out to investors. The investors, in turn, return them to State coffers. This allows for an enormous debt bubble that is quiescent until interest rates go up. The State is the beneficiary of ZIRP while it kills all interest income in the private sector.
The State-sponsored ZIRP bubble has solidified for years. The currency inflation has bled over to the lower loop and caused price inflation. Investors must put their money to work to keep it's purchasing power from diminishing. The ZIRP bubble has caused them to go to the high-interest (junk) bond market in a search for yield.
Helicopter Money Has Arrived... And Nobody Noticed: Here's Why | Zero Hedge

[Danny B]

Busted European banks,, busted CITI and J.P. Morgan

"What is very negative is that in every country in Europe, the largest owner of that country's sovereign bonds are that country's banks,"
The next big short’? Eisman warns that Europe and its banks ‘are still screwed’
OK, so the bonds that the bank hold are only worth about 20% of face value. Italy being the worst.
Looking forward, the European banks are looking to grab the money from a whole new class of investors. Banks await European Commission plan on capital buffers, loss provisions
After the shares and bonds of the bank are wiped out, this new class would get hosed. That would leave the depositors as the last one to get milked. It sounds like the "fix" is already in.

On this side of the pond, CITI and J.P. Morgan are reported to be in worse shape than Deutsche bank. Forget Deutsche Bank, These 2 American Banks Are Now "The Most Systemically Dangerous In The World" | Zero Hedge
"Six dozen dead banking executives is only one of the many signs that show the financial system is rotten, riddled with fraud, and set to implode."
It seems that the bank, Monte dei Paschi di Siena was doing dirty dealings and had to appeal to Deutsche bank to save them.
What These “Mysterious Deaths” Tell Us About Our Global Banking System | Casey Research

[Danny B]

Collapses and time-bombs looking for a pin

Rumor-control told us that there would be a huge collapse on September 30, 2017. Like the December 31, 2012 apocalypse, it was a no-show. The next apocalypse is scheduled for January 1, 2018.
"And in 2009, I got called in for a closed-door meeting at the Pentagon... to create and oversee their first ever "financial war game" simulation... to expose security weaknesses in U.S. banks.
The good news is that my team and I "won" that game.
The bad news is, we were playing as the Chinese team."
"For the rest of the world, the IMF has the last clean balance sheet.
And the way they see it, it's the IMF -- not the United States -- that should hold the strings to the world's purse. With centralized money, a centralized market, even a centralized government."

"The BRICS now run 22.4% of the world GDP. They now get just 14.9% of the vote in world financial decisions. They only need .1% more to get veto power.
Chances are they'll get more, as much as 16% or 17%."
Rickards is still banging the drum for the SDR. We'll see.
U.S. Dollar Goes Live

"If BofA is correct, it would mean that a day which sees a -4% SPX drop and +1% bond rally (good diversification) would generate no selling pressure, "underscoring the critical role played by bond-equity correlation in governing the severity of risk parity unwinds."
However, a troubling scenario is one where even a relatively benign 2% selloff of the S&P coupled with just a 1% selloff of the 10Y could result in up to 50% deleveraging, which in turn would accelerate further liquidations by other comparable funds, and lead to a self-fulfilling crash across asset classes."
"Which incidentally sounds like precisely the scenario that could happen when the Fed tries to raise rates, and is also why asset classes continue to move without fear of any rate hike, as they now realize - very well - just how trapped the Fed truly is."
Risky Parity Panic Strikes As Correlations Crash To Record Low | Zero Hedge
The article doesn't mention that the FED is also trapped by the derivatives. The FED could very well raise rates as a house-warming present for Trump.

Trump will have other problems. He plans to do $ trillions of infrastructure spending. BUT, it is expected that the bond market will block him; https://dailyreckoning.com/warning-b...gilantes-back/
The stock market may very well love his inflationary plans but, the bond market does not. Zero Hedge reports that the ECB and BOJ may very well be the ones that finance his rebuilding.

That term is being used a lot these days.

https://www.ft.com/content/0c7dc522-a768-11e6-8898-79a99e2a4de6

Access Denied
Financial Markets 'Sitting On A Time Bomb' - Forbes
German Financial Time Bomb Book - by Jeffrey Weston
Don't forget the WMD of derivatives; https://socioecohistory.files.wordpr...ocks_bonds.png

https://dailyreckoning.com/financial-time-bombs-hiding-in-plain-sight/

https://dailyreckoning.com/financial-time-bombs-hiding-in-plain-sight/

Other States have various "time bombs" of their own. ""R3 (Raghuram Rajan) planted a time bomb in our financial system in 2013. It is timed for December 2016. The redeemable $24 billion in f.e. (foreign exchange) to be paid out by banks," http://www.dnaindia.com/money/report...-swamy-2221872

The whole of Italy is a time bomb. We can't forget the demographic crash that is characterized as a time bomb, http://www.telegraph.co.uk/finance/e...l-economy.html

[Danny B]

https://wealth.goldmoney.com/research/goldmoney-insights/the-economic-consequences-of-mr-modi?gmrefcode=gata

A renegade economist has a plan for reducing global debt | Business Insider

Finance, as a percentage of the economy just kept growing and growing. It produces nothing but takes more and more of economic output. Labor's share of wealth just kept falling. The sole purpose of Finance is to facilitate production and consumption. Finance used regulatory capture to go from slave to master. The upper loop of the economy is crushing the lower loop. The upper loop has belatedly discovered that it is too burdensome for the lower loop to survive. Steve Keen, et al have proposed that the lower loop be infused with lots of cash to pay down their debt and get back to consuming.

The upper loop doesn't want to see the lower loop pay them off painlessly. They see the additional "money" as diluting the value of the money that they hold. This is short-sighted thinking but, this is what they will follow until it is far too late.
The problem comes in that; the State infused money into the upper loop hoping that it would trickle down to the lower loop. With outsourcing and the crash in wages, this didn't happen. Our spending power didn't rise. As our purchasing power crashed, production-consumption crashed. The crash and default of production translates directly to a crash in finance for production.


Non performing loans (NPL) are piling up everywhere.
Student loans, energy loans, CRE loans, auto loans, shipping loans.
The banks were given free money but, they don't want US to receive free money. The plan is to just buy up all the distress physical assets for pennies. We will NEVER re-visit our former high wages. We will NEVER revert to a high birth rate, nor growth.

https://ourworldindata.org/wp-content/uploads/2014/02/Child-Survival-vs-Fertility.png

https://ourworldindata.org/wp-content/uploads/2014/02/ourworldindata_world-population-by-level-of-fertility.png

Our entire system is dependent on growth. The upper loop is creating enormous amounts of currency units to create a FAUX growth in GDP,,, the purported yardstick of growth and wealth. Our U.S. debt is growing by $ ~6.4 billion a day. This is the yardstick that measures how much "money" it takes to make the GDP appear to grow.
After Aug 15, 1971, the State never had to worry about tightening it's belt. ALL limitations were are off. This was also true to a certain extent for the banks. Back before the housing crash, the banks were FINED if they didn't make enough liar-loans. After the crash, they were given TARP and lots of excess-reserves to make sure that they ALL survived. This bought some time for the preppers to get their feces together.

All this cash went into the upper loop and did NOT stop the defaults in the lower loop. Steve Keen's money would help out a lot and probably do a reset but, it wouldn't counteract human nature. People would still spend more than they earn. It also wouldn't turn around the falling birth rate. It would NOT send us away from Wal Mart. China would still have a lock on production.
There will likely be nothing done to severely shrink the upper loop. There will likely be nothing done to shrink the enormous overload of bureaucrats. 51% of Americans receive a check from GOV. That isn't likely to shrink substantially by choice.

The upper loop is going to shrink eventually but, not by choice. The default rate in debt instruments is rising. GOV pumped in tons of money BUT, had no control as to where the money went. Too much of it went into (bad) investments. They were bad investments because nobody recognised that the lower loop had crashed. The banks had papered-over our shrinking wages with MORE credit until the default rate went sky-high. They have passed the losses up the chain to GOV/CBs
But, we are GOV, we are the CB. The buck stops with us.
Edit Here is what you owe; Infographic: How Much Government Debt Rests Upon Your Shoulders?