{"id":43976,"date":"2019-02-22T19:47:29","date_gmt":"2019-02-23T00:47:29","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43976"},"modified":"2019-02-22T19:47:32","modified_gmt":"2019-02-23T00:47:32","slug":"the-utterly-unbelievable-scale-of-u-s-debt-right-now","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43976","title":{"rendered":"The Utterly Unbelievable Scale of U.S. Debt Right Now"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/news.goldcore.com\/us\/gold-blog\/the-utterly-unbelievable-scale-of-u-s-debt-right-now\/\">The Utterly Unbelievable Scale of U.S. Debt Right Now\u00a0<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2013 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<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2013 The U.S. federal government owes more money than any other institution in the history of human civilization a<\/strong><strong>nd it\u2019s just getting worse<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2013 Below, a few factoids about just how eye-wateringly, bone-chillingly large the U.S. debt has become<br><\/strong><strong><br>\u2013 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<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2013 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<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2013 All the gold in the world mined since the dawn of time adds to about 190,040 tonnes&nbsp;or 6.7 billion ounces. At the current per-ounce price of about $1,300, the world\u2019s goal hoard worth over $8.5 trillion would be not enough to pay off the U.S. debt accumulated between 2009 and 2016<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/nationalpost.com\/news\/the-utterly-unbelievable-scale-of-u-s-debt-right-now\" target=\"_blank\" rel=\"noreferrer noopener\">by Tristan Hopper in National Post<\/a><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/news.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2019\/02\/gold-plates.jpg?x64374\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em><br><\/em><\/strong><strong><em>Gold bars worth a small fortune that would only cover a few hours\u2019 worth of U.S. debt accumulation<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>U.S. debt is now higher than the combined market value of the Fortune 500<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Fortune 500 list includes all the recognizable titans of American business from Apple to Amazon to Exxon-Mobil to the list\u2019s 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Utterly Unbelievable Scale of U.S. Debt Right Now\u00a0 \u2013 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 \u2013 The U.S. federal government owes more money than any other institution in the history of human civilization and it\u2019s just getting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,374,14382,827],"class_list":["post-43976","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-gold","tag-gold-core","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43976"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43976\/revisions"}],"predecessor-version":[{"id":43977,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43976\/revisions\/43977"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}