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OKdon
Senior Contributor

Understanding net worth

 Tthe author of the commentary from the link posted by Bruce indicated that the US has anet worth of Minus 18.5 trillion. Any financial statement I have made includes both assets and liabilities. I suspect that real estate alone far exceeds the debt level. Plus military assets and don't forget all those congressmen that we have bought and paid for. Surely they are worth something to someone else.

18 Replies
hardnox
Advisor

Re: Understanding net worth

If sombody would loan me $20T I'd gladly buy the printing press for that.

 

I'd pay it off in a day and everything else would be gravy.

gurly3801539
Advisor

Re: Understanding net worth

Don, I understand the point I think you are trying to make and am not argueing.  Government doesn't have to do business the way people who operate at our size do.  When I list assets to cover a loan I have to be willing to give them up if I cannot make my payments. Do we really want our land and military on the auction block?  I know this is over simplified, but if the buyers of our debt keep their "good faith" in us we are okay.  If they stop believing we have problems.

BA Deere
Honored Advisor

Re: Understanding net worth

Other than owning trinkets such as the Washington Monument phalix symbol and the statue of that woman in New York Bay that begs the world to send us the dregs of society, the US government doesn`t have a whole lot of saleable assets.

 

But they do have the abilty to put a gun to our heads and demand a portion what we work for and what we`ve accumulated.  Also they own some printing presses which I doubt can keep up anymore, now they add zeros and comas to balance sheets from a computer keyboard.

 

That has worked, but the rest of the world seems to be catching on to the gig, if you`ve been on the financial markets latey.  Perhaps the fire can be put out or maybe this is the big Shemitah one, time`ll tell.

OKdon
Senior Contributor

Re: Understanding net worth

There you go. Where we make the mistake is calling printed money debt. We just print the money and it exists.To heck with letting the Fed in on the action. There isn't a darn thing mr taxpayer can do about inflation. You either pay taxes or the piper of inflation. End all that financial gobbley gook. Print the money and pay the bills and end all that debt BS.

 

Since our society or half of it thinks a great society can reneg on its debts to creditors and obligations to it citizens, then just devalue the dollar so those tax avoiders cannot avoid the inflation tax. Or a transaction tax. Every transaction produces tax revenue whether their is profit made or not. You don't buy or sell anything without pay the gov't tax. You don't want to pay tax. Don't do any business.

r3020
Senior Advisor

Re: Understanding net worth


@OKdon wrote:

 Tthe author of the commentary from the link posted by Bruce indicated that the US has anet worth of Minus 18.5 trillion. Any financial statement I have made includes both assets and liabilities. I suspect that real estate alone far exceeds the debt level. Plus military assets and don't forget all those congressmen that we have bought and paid for. Surely they are worth something to someone else.


So instead of a debt payment we could give China the Sequoia national forest.

OKdon
Senior Contributor

Re: Understanding net worth

Why would you do that? You liquidate asset of your choosing and pay the debt like any normal businessman would do. 

Red Steele
Veteran Advisor

Re: Understanding net worth

if you are in favor of stealing money through inflation, you should be in favor of giving half of your land to the government. Would be about the same thing. Why do you hate people that save money so much?

HortonGordelson
Senior Contributor

Re: Understanding net worth

Debtors don't always get to choose which assets to liquidate.....you should have learned that in the 80's.

r3020
Senior Advisor

Re: Understanding net worth


@OKdon wrote:

Why would you do that? You liquidate asset of your choosing and pay the debt like any normal businessman would do. 


That's called privatization.