patrick.net

The_Deplorable says

This is very likely false. This may even have been put out by Dems since it is easily researched and makes Warren look like the victim of libel.

HeadSet says

The_Deplorable says

This is very likely false. This may even have been put out by Dems since it is easily researched and makes Warren look like the victim of libel.

His handle should be changed to The_Gullible.

From the Congressional Budget Office on 10 February 2025:

"The federal budget deficit totaled $838 billion in the first four months of fiscal year 2025, CBO estimates. That amount is $306 billion more than the deficit recorded during the same period last fiscal year"

So what went down as this can't be due to increase in federal debt payments for a $306 billion increase in spending over 4 months (1 October 2024 to 1 February 2025) compared to the same period in last fiscal year ?

How much did Biden accelerate spending after the election and this relates to the statement about "throwing gold bars off the Titanic" as far as getting as much money to the Stacey Abrams non profits before Trump's inauguration ?

I hope more of this type of prudent leadership happens in Trump's admin: https://www.epa.gov/newsreleases/administrator-zeldin-announces-billions-dollars-worth-gold-bars-have-been-located

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Interesting info on asset-backed debt (I.e., US Treasuries, mortgages, car loans, credit card debt, etc)

https://www.sifma.org/resources/research/statistics/fixed-income-chart/

The above link shows around $4.6 trillion in 2024 of financed or issued US Treasuries.

I wonder if at least $2.7 trillion of that is refinanced debt such as the US Treasury refinancing short term debt to longer duration debt like 30 year Treasuries.

The below recent Wall St Journal article reminisces about the movie The Big Short in regards to mortgage backed securities

https://www.wsj.com/finance/investing/abs-crashed-the-economy-in-2008-now-theyre-back-and-bigger-than-ever-973d5d24

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Re above: How about Israel?

clambo says

Re above: How about Israel?

We didn't get $37T in debt from Israel. Not if we borrowed the few billion every year at 25% interest over decades.

AmericanKulak says

We didn't get $37T in debt from Israel. Not if we borrowed the few billion every year at 25% interest over decades.

Let's see by 4 July 2026 that the debt to GDP ratio is less than 107%, which was the ratio in 2019 and below 100% by January 2029.

https://tradingeconomics.com/united-states/government-debt-to-gdp

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https://www.mypanhandle.com/news/national-news/us-could-default-on-debt-as-soon-as-july-analysis

(The Hill) – The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action.

The prominent think tank forecasted on Monday that the so-called “X-Date” would likely arrive between mid-July and early October.

“Fiscal responsibility is not just about avoiding financial calamity time and time again—it’s about ensuring economic stability and paying our bills on time,” Margaret Spellings, president and CEO of the think tank, said in a statement.

The most US Treasuries that China has owned were around $1.3 trillion in 2011.

It has slowly reduced its holdings since 2011 and currently owns around $750 billion.

So every American owes the Chinese around $2,000.

AD says

The most US Treasuries that China has owned were around $1.3 trillion in 2011.

It has slowly reduced its holdings since 2011 and currently owns around $750 billion.

China has continued to increase its holdings of Treasuries. It has kept them under the auspices of its SOEs. It holds them at a variety of institutions. China has deliberately clouded this issue.

Patrick says

So every American owes the Chinese around $2,000.

Nope. The US government isn't 'every American'.

But we pay way more than 2k from hollowing out our manufacturing base.

MolotovCocktail says

Patrick says

So every American owes the Chinese around $2,000.

Nope. The US government isn't 'every American'.

But we pay way more than 2k from hollowing out our manufacturing base.

Officially about $780 billion in US Treasuries is owned by China. About $8 trillion of $36 trillion is foreign owned.

I doubt the Chicoms own more than $800 billion in US Treasuries.

But the fact you brought up Chicom state owned industries or enterprises, reminds us how unfair trade is with China and why we have a $300 billion trade deficit with them.

I love reading stories about Steve Jobs mentioning that Apple products are built by Chicom workers who live in dormitories at the manufacturing plant. Might as well call it a barracks and not dormitory and make them wear Peoples Liberation Army uniforms.

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Debt is slavery

https://finance.yahoo.com/news/us-loses-last-top-credit-221054398.html

US Loses Last Top Credit Rating With Downgrade From Moody’s

AD says

https://finance.yahoo.com/news/us-loses-last-top-credit-221054398.html

US Loses Last Top Credit Rating With Downgrade From Moody’s

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This author wrote in 2013 about debt : https://www.oftwominds.com/blogmay13/genX5-13.html

He just wrote this insightful article which validates his 2013 article, and he's say there needs to be a means test for social security among other spending reforms:

https://www.zerohedge.com/personal-finance/boomers-lets-face-it-math-doesnt-work

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AD says

"there needs to be a means test for social security among other spending reforms:
https://www.zerohedge.com/personal-finance/boomers-lets-face-it-math-doesnt-work "

No because Social Security has been running a surplus for years! Years!
Social Security is our hard earned money for retirement - every single penny!
And if we remove the fraud from Social Security then that will make Social
Security more secure.
Social Security is rock solid.

The government has a lot of debt but it has a lot of assets too:

•640 million acres of land (28% of America)
•$500B in gold reserves
•$1.8T in military equipment and bases
•300,000+ federal buildings (including national labs, NASA facilities, post offices)
•48,000 miles of interstate highways
•Massive mineral and energy resources (oil, gas, minerals, water rights)
•650M barrels in the Strategic Petroleum Reserve
•$1.6T in student loan debt owed to the government
•Air rights and wireless spectrum licenses
•Fannie Mae and Freddie Mac stakes (~$150B net worth combined)
•Power generation assets like the Tennessee Valley Authority (TVA)
•Ports, waterway infrastructure, and major federal transportation assets
•National parks and forests (economic and environmental value)

They would be hard to sell and liquidate, but they could definitely be leased, monetized, or privatized in part. Total estimated value: $25–50+ trillion.

https://x.com/HayekAndKeynes/status/1926451705845055530

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https://dailyhodl.com/2025/05/24/fed-quietly-buys-43600000000-in-us-treasuries-in-alleged-stealth-qe-operation-after-china-abruptly-dumps-billions-in-bonds/

China now holds $765.4 billion in US Treasuries and is in third place behind the UK and Japan, which hold $779 billion and $1.13 trillion, respectively.

Interesting that the Chicoms maximum holdings was around $1.3 trillion around 2014.

I look forward to the Wolfman at Wolf Street website to give an update on the Federal Reserve's balance sheet.

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AD says

Interesting that the Chicoms maximum holdings was around $1.3 trillion around 2014

The Chinese hold some additional hundreds of Billions through their SOEs. They try to keep their total holdings quiet, but yep in the UK and Carribean Islands as well as HK.

Misc says

AD says

Interesting that the Chicoms maximum holdings was around $1.3 trillion around 2014

The Chinese hold some additional hundreds of Billions through their SOEs. They try to keep their total holdings quiet, but yep in the UK and Carribean Islands as well as HK.

Who knows as far as Chicom State Owned Industries (SOEs) other than the Chicoms themselves, but the amount of US Treasuries held by China has steadily decreased since 2014.

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America runs on fraud.

The_Deplorable says

America runs on fraud.

Running up debts is a choice. If you are just starting out, get a cheap used car and a roommate. Nobody needs a $30,000 wedding. If you do go to college, try CC for the first two years and transfer. If you do the 4-year college route with a loan, major in something that allows you to pay back the debt.

HeadSet says

"Running up debts is a choice."

No it is not!
This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

The_Deplorable says

HeadSet says
"Running up debts is a choice."

No it is not!
This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

It is a choice. Headset is right. CC for 2 years and see if you pass your courses that are the basic requirements you're forced to do anyway. Still costs, but it's substantially less for professors/teachers that are just as competent as 4 year university professors that likely only have the job because they graduated from there.

Females should go in for nursing if they're 17-18 in 2025. Males should do business and/or other STEM courses. Don't take English or any of that other bull shit. You speak English and if you graduated high school you should have an above average grasp of it.

At the end of the day it's ultimately networking. Who you know. Sure there are skilled trades and professions, but if you know the right person they'll train you. I think that's a problem with a lot of STEM guys specifically. They're socially awkward and don't meet decision makers. So they get stuck in a shitty career.

The_Deplorable says

America runs on fraud.

300k home? Any neighborhood not overran by diversity rape gangs is at least 600k in any city.

This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

WookieMan says

"It is a choice..."

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

The_Deplorable says

This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

WookieMan says

"It is a choice..."

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

Colleges are rarely $100K. Going to a $100K per year college IS a choice.

RWSGFY says

"Colleges are rarely $100K. Going to a $100K per year college IS a choice."

You haven't checked tuition and fees lately, have you?

The_Deplorable says

America runs on fraud.

I agree that some of this cost is "optional".

But most girls have dreamt of their weeding day since their Disney Princess days when there were five.

I don't mind driving an old car, so long as its reliable.

House prices are 2x or more along the coast relative to just a decade ago.

And as for college, CC is an affordable alternative now days. That's one thing Obama got right. Back when I was graduating HS, I had taken most of the courses that the local CC offered at my local HS, and they certainly did not have an engineering program back then. STEM was just coming into vouge.

But today? It's a reasonable pathway to a four year degree without breaking the bank.

The_Deplorable says

This is a fraud imposed by the deep state on the American People. Having to pay
$100,000 a year to attend college is not a choice!

WookieMan says

"It is a choice..."

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

If anyone looking at the details, in either public or private, there are kind of two income thresholds. Pay zero under full ride who qualify for below first threshold.
Pay full sticker price who are above the second, partial pay in between.
Because of the subsidy to the first 2 categories, the third category price goes much higher.
We all hear stories about the first two categories who cheat the system!
In my small world observations, the tuition fees didn’t go much over the years compared to everything else like dorms, books, food, medical, transportation etc.
Not sure about other states, in CA, all illegals have lots of programs under various names get paid not by them and adding it to the third category.

The_Deplorable says

College at $100,000 a year is not a choice. It is a fraud imposed on the American people
by the Globalist Nazis. These losers need to get lost and move to Somalia where they
belong.

Then don't go. Supply and demand. Prices will drop. I'm not pushing college on my boys. Start a business. Plumbing, HVAC, electric, etc. Do the physical work when you're young and then sit behind the desk and hire a good manager. Buy out competitors that don't have what it takes. You can be making $300k+ 4-5 years out of high school with no debt.

I can teach the tax end. Wife can teach sales and marketing. They really wouldn't even need to go to college. We've actually done what we'd be teaching, not like most university or CC professors where they just go to school to teach in something they haven't experienced. As a parent it 100% is a choice. If they show the work ethic I have no issue with them living at the home until they get employment/income. 4 Years max.

GreaterNYCDude says

But most girls have dreamt of their weeding day since their Disney Princess days when there were five.

I don't mind driving an old car, so long as its reliable.

The wedding thing only should apply to women and their family. Doesn't much matter as I forget which thread only 12% are getting married anyway. Ways to make a wedding cheap as well. Destination is the easiest. Food and drinks included at an A/I and the guest pay their way. Likely have mom or dad pay for your room as a gift or whatever. So essentially free. Don't need to go to some dumb ass banquet hall in the burbs or city for a shitty wedding. We have nothing to do with them, but we did ours in a Knights of Columbus school for a $500 fee. Brought kegs and returnable hard booze. Catered food. It was cheap for 200+.

Cars are the dumbest cost. Again, a choice. Have a buddy putting in I think $20k into a 1980's truck. Nothing special. He's doing it so his son can get girls. I've told him, dude those days are done. He's 48 and kind of stupid, but fun to hang with.

Reality is you take out the college, wedding and get a shitty car, a $300k home or higher is not a big deal. Again, these are choices. Your biggest choice is if you want to start a family. Everything else will fall in line after that. I made that choice Freshman year in college. Best choice to have a partner in this game called life. I don't blame others for my faults or things we've done wrong. I'm getting sick of that shit.

The_Deplorable says

RWSGFY says

"Colleges are rarely $100K. Going to a $100K per year college IS a choice."

You haven't checked tuition and fees lately, have you?

I did. Have one kid in college RN and other two soon to follow.

In a right state you can go to a great public school for roughly $10-20K per year and this is with zero scolarships, assistance and such.

I'm surprised you don't know that, supposedly living in the US and all ....

RWSGFY says

In a right state you can go to a great public school for roughly $10-20K per year and this is with zero scolarships, assistance and such.

I'm surprised you don't know that, supposedly living in the US and all ....

Yup. Options out the butt that are still somewhat expensive but don't bleed you dry. You don't need an Ivy league degree. Wife does just fine from a University of Illinois arm or whatever. Probably makes double most Champaign grads make in a year. Half the cost in state at UIC.