Marc Faber: Invest Overseas, The Fed Party Is Over
What's in a number anyway? Faber says the FED balance sheet is over $3 trillion. However, the US government owes about $14 trillion, thusly, putting the total US government balance sheet at $14 trillion number. Does it include the FED's balance sheet? Actually, I don't know right now.
But, I can report what the legendary fixed income guru - Bill Gross; PIMCO, estimates. He puts total US government debt at a figure of over $100 trillion. His number also includes all future payments and contingencies on a present value basis. Put another way, this is the value of all known oil reserves that are set to exhaust in about 40 years.
Dr Peter G Kinesa
February 20, 2013
What do you mean we're broke?
What's in a number anyway? Faber says the FED balance sheet is over $3 trillion. However, the US government owes about $14 trillion, thusly, putting the total US government balance sheet at $14 trillion number. Does it include the FED's balance sheet? Actually, I don't know right now.
But, I can report what the legendary fixed income guru - Bill Gross; PIMCO, estimates. He puts total US government debt at a figure of over $100 trillion. His number also includes all future payments and contingencies on a present value basis. Put another way, this is the value of all known oil reserves that are set to exhaust in about 40 years.
Ever wonder if this debt can ever be repaid ? Do not spend a lot of time thinking about it.
Dr Peter G Kinesa
February 20, 2013
What do you mean we're broke? 