A Billion Stolen Cars! 201026
October 26, 2020
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 10/26/20
The U.S. Government has stolen a billion cars from the future Americans!
Over the last 51 years the U.S. Government has fraudulently borrowed $155.2 Trillion from the future Americans and Planet Earth has been using some of that fraudulently borrowed money to increase the car population on Planet Earth by more than a billion cars!
The following table from Wikipedia estimates that we had 246,378 vehicles worldwide in 1970 and now the current estimate (it varies widely) is between 1.34 billion and 1.42 billion. By any reasonable estimate, we have added more than a billion vehicles over the last half century!
I contend that the U.S. Government fiscal and accounting fraud, that I call USAPonzi, is largely responsible for this dramatic increase in cars worldwide since 1970! The U.S. Government launched this Ponzi scheme fiscal policy with the Unified Budget for FY1969 and has been deferring public liabilities to the future Americans since then for now a total of $155.2 Trillion!
Over the last 51 years, we have been buying, using, and retiring cars so the current total of 1.4 billion cars is an estimate of the currently operating cars. We have built and bought many more than a billion cars over the last half century!
Again, I contend that many, maybe even most, of these cars have been built and bought with the counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans! $155.2 Trillion is a lot of money!
The U.S. Government is in the process of fraudulently borrowing an infinite amount of money from the future Americans so Planet Earth can build an infinite number of cars that will burn up Planet Earth! We are burning up Planet Earth by building an infinite number of environment-polluting physical objects, many of them are cars, with the counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans!
Cars just happen to one of the most visible and somewhat measurable examples of how USAPonzi is causing Global Warming that is in the process of destroying Planet Earth!
We are filling up Planet Earth with cars that are being built with fraudulently borrowed money!
We are currently building cars at the nominal rate of 3 cars/second and the U.S. Government is fraudulently borrowing money from the future Americans at the nominal rate of $222,000/second!
And the rate at which the U.S. Government is fraudulently borrowing money from the future Americans is increasing exponentially!
We are in a deadly race against time that will be decided by whether or not the U.S. Government acknowledges that it is using fraudulent accounting before we burn up Planet Earth!
The following chart from live-counter.com on October 24, 2020 estimates that we currently have 1.338 billion cars worldwide, that we have built 79.7 million cars so far this year, and that we built 888 cars while I had this website open! The increase live of 290 cars is the estimated net increase because several cars got retired while I had this website active!
The following chart from Statista shows their estimate of cars produced over the last 20 years and a current rate of nominally 95 million cars per year which is nominally the same as live-counter.com if you extrapolate the live-counter.com estimate to the end of the year from the current estimate of 79.7 million. October 24, 2020 was day number 296 therefore the live-counter.com estimate for the full year 2020 would be 98 million cars ((79.7m/296)*365 = 98.3m)!
This is where I get my estimated production rate of 3 cars/second!
(95,000,000 cars/(365 days*24 hours*60 mins*60 secs) = 3.01 cars/second.
The U.S. Government has an estimated GAAP Deficit in FY2021 of $7.01 Trillion so the current borrowing rate from the future Americans is estimated to be about $222,000/second!
($7,010,000,000,000/(365 days*24 hours*60 mins*60 secs) = $222,286/second.
Of course not all of that $222,000/second is spent on cars but if you assume that a new car has a worldwide average cost of the $40,000, the average in the United States, this passes the reasonableness test that deficit spending by the U.S. Government is providing a significant portion of the money to build 3 cars per second worldwide! The cost of new cars would use about 54% of the money that the U.S. Government is borrowing from the future Americans!
(3*$40,000/$222,000 = 0.54 = 54%)
I further contend that the cost of cars in other parts of the world is less than the U.S. cost of $40,000 so this 54% number is in all likelihood a high estimate.
The U.S. Government is running a $155.2 Trillion Ponzi scheme, I call it USAPonzi, by not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting)!
Proper GAAP Accounting shows that the U.S. Government is committing a fiscal and accounting fraud that has deferred $155.2 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans! The U.S. Government has fraudulently borrowed $155.2 Trillion from the future Americans and given it to the current Americans, primarily to the U.S. upper class! I call this fraudulently borrowed money, imaginary-counterfeit money since the future Americans do not have $155.2 Trillion!
When Americans spend their imaginary-counterfeit money, essentially everybody in the developed world will eventually get some of this imaginary-counterfeit money so people all over the planet are buying cars (and all kinds of other stuff) with this imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!
$155.2 Trillion of imaginary-counterfeit money can buy a lot of cars! If we spent all of that fraudulently borrowed money on new cars at an average price of $40,000, we could buy 3,880,000,000 cars!
($155,200,000,000,000/$40,000/car = 3,880,000,000 new cars)
The corrupt U.S. Government is printing a lot of imaginary-counterfeit money so we can buy a lot of cars!
The U.S. Government began this fiscal and accounting fraud/Ponzi scheme in FY1969 so Planet Earth has been building and buying cars with this imaginary-counterfeit money (monopoly money) for 51 years (See USAPonzi-The Great American Fraud)!
When USAPonzi implodes, we will quickly stop building the cars that are burning up Planet Earth! I just hope that Planet Earth is not too badly scarred by the time this happens.
The corrupt U.S. Government fiscal and accounting fraud that I call USAPonzi is causing multiple global crises for Planet Earth!
My Quintet of Global Crises commentary explains how this accounting fraud has caused three global crises (Social Injustice, Global Warming, and The Coronavirus Pandemic) and will cause at least two more global crises (The Hunger Pandemic and The Greatest Depression)!
|US National Debt
|Cash Deficit in FY2021
|*GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org October 26, 2020
This accounting fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government!
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
John W. White