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What is U.S. Debt? – P1: Intro to Debt | Watch Part II – “Comparing Debt to GDP” :

Today the US Debt topped 15 Trillion dollars. What is debt exactly? How does it destroy families and countries? Epipheo is beginning a series on the topic of debt to help everyone understand where we are at as a country. That’s right … perhaps we are the real Super Committee. Comment on what part of the debt problem you would like to see more videos about.

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  1. 😀 pack your bags , we’re going to Canada 😀 all the non- steroid polluted
    milk u can drink

  2. Ok, lets say there is a fixed ammount of valued resourses on earth, then
    there would be a fixed value on money right? So where does the money paying
    for the interest come from?

  3. @epipheo check out v=Dc3sKwwAaCU on youtube, as a student of economics I
    was able to watch this and apply it to what was being taught in class. It
    explains the history of fractional banking (which is the basis for all
    central banking). Basically, all money is debt because it is borrowed from
    a central bank, any note payable assumes a certain amount of interest but
    in order to pay off the original note more notes must be printed. A US
    dollar is a federal reserve note. Also look up note.

  4. wow i wish i saw this video when i took economics last semester =( i didnt
    know how to define G.D.P

  5. Sadly, it didn’t. Just proves how uneducated our world is, more interested
    in Black Ops II and sports than our impending doom by debt.

  6. In my opinion, debt doesn’t exist, it’s an excuse for people to pay more to
    the 1% by the 1%. Debt is created when we borrow money (nowadays borrowing
    billions from all around the world) and we have to find a way to somehow
    pay back all that money for all the products, services, etc. that other
    countries had supplied us. Like the video, it’s simply a loan (a huge loan)
    that accumulates until the U.S.’s budget can’t pay off. What do we do to
    try to pay it off, well we simply “borrow” more money!

  7. It doesn’t go without saying that the government owing debt issued in its
    own currency (which it is the monopoly producer of as in the US) is in the
    same situation as a household with a finite amount of money. It is
    impossible for us to go bankrupt unwillingly- by refusing to offer more
    bonds, or just pay for things by crediting people’s accounts. The debt
    ceiling is a kind of arbitrary/fictitious constraint put on ourselves for
    moral reasons. There is largely a moral, not institutional relationship
    between the amount taxed and amount spent for government- and as long as
    they are meeting inflation targets there is no negative functional (as
    opposed to moral) reason why it couldn’t continue paying for its programs
    by simply crediting accounts. Currently the fed is TRYING to cause
    inflation quite unsuccessfully. Aside from the fed stimulus, they have
    pumped trillions of dollars into the economy by buying bad assets for
    arbitrarily high prices- and still inflation is so slow they are worried
    about it collapsing into deflation. If the government is trying to keep
    price stability, growth, and high employment- if they are meeting these
    requirements but aren’t using taxes=spending is it accurate to say that is
    bad? At least it doesn’t seem it is the same as a household borrowing

  8. Remember, don’t let this guy fool you. The land of the free owes most of
    that money to itself, and china only needs about 2 trillion.
    Then the year after that,the US of A can just pay back everything else. No
    one would see the home of the brave as an indebted country, but a worldwide

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