The Utterly Unbelievable Scale of U.S. Debt Right Now
– Last week, the United States national debt ticked above US$22 trillion for the first time, an amount equivalent to $67,000 per U.S. citizen
– The U.S. federal government owes more money than any other institution in the history of human civilization and it’s just getting worse
– Below, a few factoids about just how eye-wateringly, bone-chillingly large the U.S. debt has become
– The U.S. debt is now higher than the combined market value of the Fortune 500 and just with the money it spends on interest, the U.S. could run Canada or Mexico
– Debt from one Trump term could pay for another WWII and all the gold ever mined would only pay off the debt accumulated under Obama
– All the gold in the world mined since the dawn of time adds to about 190,040 tonnes or 6.7 billion ounces. At the current per-ounce price of about $1,300, the world’s goal hoard worth over $8.5 trillion would be not enough to pay off the U.S. debt accumulated between 2009 and 2016
by Tristan Hopper in National Post
Gold bars worth a small fortune that would only cover a few hours’ worth of U.S. debt accumulation
U.S. debt is now higher than the combined market value of the Fortune 500
The Fortune 500 list includes all the recognizable titans of American business from Apple to Amazon to Exxon-Mobil to the list’s ranking 500th spot, the uniform and laundry company Cintas. Taken together, they basically constitute every major consumer, media, industrial and entertainment product in the United States. If you are the average westerner, the Fortune 500 is responsible for most of your wardrobe, your diet, your home and your leisure pursuits.
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