Great American Enterprise Is B ankrupt!
MUZK IS RIGHT, IT’S ALL BORROWED MONEY ... THE TREASURY STEPS IN ONCE AGAIN! Perpetuating Incompitent leadership.
Each stopped by Joe Manchin, D. WV, the swing vote in a gridlocked 50/50 Senate ... so in the meantime VP Harris being the swing vote in the Senate passed 34 bills to President Biden to sign into law without a source to pay for them. The US Treasury steps up once again ... and again ... and again.
With an annual $1.2 trade deficit losing cash flow, from shut down of the energy production, creating a back log of $17 trillion in unpaid interest on treasuries, with an inverted yield curve for 30-year redemptions paying 1.4% on discounted Bonds, and 1-year redemptions and day trading of Bills 4.2% respectively. As China aligned with OPEC. North Korea and Russia, asking the World Trade and Import/Export Banks, to de-dollarize trade, replacing the dollar fiat currency, as reference currency, with the Yuan.
Operationally, due to America’s Federal, State and Local insolvency and likely bankruptcy shown on the Durst debt clock www.usclock.org. Also, the international debt clock showing America GDP as $27 million (a negative of135% equals current debt), China’s GDP as $17 trillion, and $42 trillion adding the USSR, OPEC and alliances of Africa, India, South and Central America versus $103 trillion worldwide GDP. Eastern Hemisphere $50 trillion and WesternHemisphere $53 trillion, shifting $1 trillion every day to the East, due to the imbalance of Trade. The Mid-East and South America with Venezuela and Guyana having more in fossil fuel reserves than the Middle East. In waiting to me merged into China’s energy cartel.
For analytical purpose, with a contrived USA, Inc. balance sheet showing Federal current debt $37 trillion (fifteen zeros) ($8 trillion held by foreign exporters) added to $63 trillion State and local current debt equals $101 trillion, current liabilities payable in the next accounting cycle. $150 trillion in long-term obligations for Federal, State and Local governing bodies in many cases having their accruedpensions exceed their GDP. With $171 trillion in total assets. Denoted on the debt clock as hidden wealth backing our USA currency.
That is in fact the collateral backing the $251 trillion debt and accumulated deficits. With a negative net worth of $60 trillion. Currently, China, Russia, OPEC have liens on outstanding US Treasuries that can be used to execute an insolvency filing under USA’S Chapter 15 of the UN International monetary fund to act as the bankruptcy court that relies on the sovereign country’s debtor nation’s bankruptcy filing and adjudication rules.
A gargantuan $251 trillion total debt, including social security, Medicare, Medicaid, 13 entitlements and growing. Accrued interest estimates of $17 trillion accrued interest on $37trillion US Treasuries, with accrued government pension obligations of $17 trillion for 24 million government workers, growing at the rate of one million new hires.
Unfortunately, with GAAP set of books at every level (required by law passed by Congress in 1974 as included inthe Republican “Contract with America” where Arthur Andersen & Co. did a study that showed that the 1973 Federal deficit for that year was understated by 100% $956 billion not $428 billion), to support a government contract with Arthur Andersen & Co. the largest CPA firm in the world (that I worked for until 1968, then starting my own CPA firm later in the 1980’s) to convert government entities to GAAP accrual accounting.
Dumbing the human capital down with BBB and MAGA. . THE SOLUTION IS BUSINESS S USING AMERICAN GAAP ACCOUNTABILITY ... EFFECTIVELY MANAGEMENT OF OUR PROFITABLE 50 REPUBLICS ...
THE CABINET HEADS MUST MANAGE FOR A BOTTOMLINE WITH CASH FLOW ACCUMILATING SET ASIDES FOR FUTURE OBLIGATIONS WRITTIN INTO LAW BY THE TWO PARTY SYSTEM ... OR ELSE A THIRD PARTY WILL ARISE TO SOLVE DEFICENT LIQUIDITY TO REDUCE DEBT SERVICES COSTS.
