Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

[JohnyMac]

Where does it end? When does the ponzi scheme come crumbling down?

Zero Hedge reports:
Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day...

And then there is....From CNS News:

The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the government.

During those eight weeks, Treasury took in $341,591,000,000 in revenues. That was a record for the period between Oct. 1 and Nov. 25. But that record $341,591,000,000 in revenues was not enough to finance ongoing government spending let alone pay off old debt that matured.

[gadget99]

Oh my.........

Darn good question.

Considering that the global economy is built upon the petrodollar and fake money. I believe that we are in a bit of an "Alice In Wonderland" situation.

It could carry on trading fake wealth, or we could crash when everyone calls in there chips asking for real assets for the debt.

To be honest I believe that having owned REAL property and REAL assets is the way to go at the moment. I will tell you that a 55 gal drum of rice is going to be worth more than it's weight of gold at some point. Remembering that a vacuum sealed barrel of rice will out last you and yours in storage, you get my drift here.