Washington has got to stop this madness.
But none the people in Washington or none the people on Wall Street or none the people in businesses want to fix the problem because it is appearing to make them rich and powerful and at an exponentially expanding rate.
But it will be a catastrophe of epic proportions when USAPonzi implodes.
U.S. Total Assets Bubble explains why the counterfeit money created by this GAAP Obligation is causing the private assets of Households, Corporations, and Small Businesses to appear to be worth 7-8 times what proper taxing according to GAAP Accounting would dictate. The U.S. citizens and businesses have been enjoying a massive tax holiday for the last 46 years and it has made them appear to be much richer than they really are. As of November 1, 2014
www.usdebtclock.org puts the value of our Total National Assets ( the assets of Households, Corporations, and Small Businesses) at $112.8 Trillion but $98.7 Trillion of that is the counterfeit money created by USAPonzi so "Real" private net worth is $14.1 Trillion which means that the "Real" net worth of all U.S. Households, Corporations, and Small Businesses is only about 12.5 cents on the perceived dollar (($112.8T-$98.7T)/112.8T=0.125).
Credit Suisse has published its 2014 Global Wealth Report that indicates that 49% of the Ultra High Net Worth (over $50 Million) individuals live in the United States. I contend that USAPonzi is responsible for this dramatic skewing of the Ultra High Net Worth toward U.S. citizens by undertaxing U.S. citizens and businesses by $98.7 Trillion over the last 46 years.
The following table shows the number of Ultra High Net Worth (over $50 Million) residents by country according to this Credit Suisse report.
United States 62,800
United Kingdom 4,700
South Korea 1,900
While it is clear to me that the number of Ultra High Net Worth individuals in the United States is highly influenced by USAPonzi ($98.7 Trillion of counterfeit money can make a lot of people appear to be very rich), I contend that USAPonzi is also a significant contributor to the total number of worldwide Ultra High Net Worth individuals since USAPonzi has created massive purchasing power for U.S. citizens and businesses which enhances global economic activity and wealth creation in other countries since we can spend our counterfeit dollars any place in the world, at least for now.
The U.S. Government's current corrupt and fraudulent fiscal policy has been causing U.S. citizens' and businesses' private assets to increase dramatically while the U.S. public liabilities have been increasing at nominally the same rate. This makes it look like the economy is doing quite well, makes it look like businesses are quite successful, profitable, and valuable, and makes it look like a lot of people are getting very rich. The U.S. Government is intentionally transferring counterfeit money from future taxpayers to current U.S. citizens and businesses.
But this is all an illusion that is created by USAPonzi.
The U.S. Government is virtually stuffing counterfeit money into the pockets of U.S. citizens and businesses at the rate of $6.94 Trillion in FY2015 for a total of $98.7 Trillion since FY1969.
USAPonzi Long Term Projection shows that if we continue with current fiscal policy (USAPonzi), by the year 2150 the U.S. Government will have created $98.6 Quadrillion (a Quadrillion is 1,000 Trillion) of counterfeit money and debt as a percent of GDP will be 13,108%. By then the U.S. should have a much higher percentage of the world's Ultra High Net Worth individuals.
USAPonzi Long Term Projection also shows that if we continue with current fiscal policy (USAPonzi)our GAAP Deficit will exceed GDP by FY2052!
Next Page: Income Inequality-A Byproduct of USAPonzi