Jun 30, 2012

Unfathomable Means True But Not Understandable

Common Sense Commentary:

What, besides the starry sky, infinite space, time and God Himself is unfathonable to the human brain?  The U.S. Federal debt!!!  Totally incomprehensable!!!

A thousand thousand is one million.  A thousand million is one billion.  A thousand billion is one trillion.  A thousand trillion is one quadrillion.  Our total national debt is somewhere between $500 trillion and a quadrillian.  Now stay with me.  That figure includes Federal, public, private and bank debt and derivitives.

If God had commissioned Adam, 6000 years ago, to count to ONE trillion, and if he were still alive and counting, 24 hours per day, he would be about one fifth of the way to ONE trillion with 24 thousand more years to count.  And that is only ONE trillion. Our country is in a $600 trillion hole of fiscal irresponsibility.

Our U.S. government debt, of actual borrowed money, is now about $15 trillion.  That
number, alone, is totally unimaginable to the human brain.  But, our U.S. government's contractual promises and commitments of Social Security, Medicare, Medicaid, government retirement programs, and so fourth, multiply that $15 trillion by a factor of ten.   So, now the U.S. Federal government debt becomes $150 trillion... and rising. That does not count the debt of our U.S. cities, states, businesses and private citizens, which together, would double the $150 trillion to $300 trillion.  Now add to that an incomprehensible debt of an equal amount in derivitives, held by just 5 of our biggest banks, J.P. Morgan Chase, Bank Of America, Citigroup, Morgan Stanley and Goldman Sachs.  That $300 trillion, estimated by the U.S. Office of the Comptroller of the Currency (OCC) is as of now. That figure is 45% of the entire world's total derivitives as estimated by the Bank of International Settlements.  (Google derivitives).  Other, more credible, institutions estimate it at nearer  $1.2 quadrillion = $1,200 trillions.

That is so much money that $1 million compared to $1.2 quadrillion, is like unto a flea
orbiting the sun for a place to land.  The zeros lined up behind $1,200 trillion would reach from here to the moon and back many times.  Before you curse those 5 big banks for losing your life's savings way out on their fantacy, dream world of professional stupidity, ask yourself, "Where were our Federal Regulators, politicians and news media when all this was going on?"  Holding the door open for them while bowing to their masters... and they still are.

If you retired folks wonder why our U.S. Federal Reserve Bank keeps the interest rate,
you earn on your retirement savings, down to 1 to 3 %, it is because our government can't even pay that interest rate on their insurmountable debt, much less the principle. If they raised your 2% to 4%, their own interest rate owed, would double also. They already have to print (digitally) many billions of new dollars just to pay the interest on their own debt.   So, you see, it is a catch 22, an unsolvible, insurmountable hole we are all in and we voted ourselves into it by electing Liberal Socialists to govern us.

Relief ??  God is neither impressed, worried nor affected by all this.  Praise Him for the "Blessed Hope" of the return of Christ and resurrection from these very deep graves. RB

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