I knew it was high. Listening to a news report about Fannie May and its cohart. They said fannie may was 5 trillion in debt or losses this was 1/2 the USA's national debt.

Is that right we are 10 trillion in debt when in 2000 we had a surplus?

This is just the mortgages they back. Only a very small fraction of it would default. It is private debt unless the Govt has to take them over which is NOT in the plans...

from a report earlier this year...

"The health of Fannie Mae and Freddie Mac is seen as synonymous with the U.S. housing market since they own or guarantee more than $5 trillion in mortgages."

Thanks...When i saw them talking about this they said tha 5 trillion was 1/2 the national debt.. Is thia true we are 10 trillion in debt that has come about in the last 7 years

Ahhhhhhh, the return of voodoo economics/Reaganomics ahhhhhhh

Reagan in one of his State of the Unioun speeches. Said he was worried because we were 2 trillion in debt.

That if we did not get rid of this our grandchildren would be paying for our spending.

He liken some bill i thought it was a 100 dollar bill but i am not sure. That stacked on top each other to see how much this would be would reach to the moon.

We did get out of that debt in the 90's and now we are 10 trillion in debt...That is a huge trampling of the work of the 90's to this day.

Look in the hedges, you will find the money there.

Yep!!!

Fanny mae and Fanny Mac are both are in danger of failing!

It's OK though!
Its all in your head!
Gramm says its mental, and McConfused says it's Psychological!

Wall Street's angst over the ongoing fallout from the credit crisis made for a turbulent end to a volatile week Friday _ stocks tumbled, soared and then turned south again as investors tried to assess the dangers faced by the country's biggest mortgage financiers, Fannie Mae and Freddie Mac.

The Dow Jones industrial average, which traded down more than 250 points in the session, briefly moved into positive territory Friday before ending down more than 128 points. The blue chips also traded below 11,000 for the first time in two years. And all the major indexes ended with another losing week.

A new high for oil prices above $147 a barrel also weighed on stocks.

The fate of the government-chartered companies was a focus of trading Friday as it had been earlier in the week. Shares of Fannie Mae and Freddie Mac fell sharply over several sessions on concerns about their stability. Wall Street is worried that a collapse of the two financiers would cause further shock to the financial system, and trigger more losses to banks and brokerages with significant holdings of mortgage-backed securities.

The well-being of Fannie Mae and Freddie Mac is crucial because they hold or guarantee about $5 trillion worth of mortgages, or about half the outstanding mortgages in the United States. Their troubles are just the latest depressing turn in a year-old credit crisis that shows no sign of ending, disappointing some stock traders who thought just months ago that the worst was perhaps over.

Stocks fluctuated late in the session amid varying reports that the Federal Reserve could aid Freddie Mac and Fannie Mae.

http://www.huffingtonpost.com/2008/07/11/paulson-no-bailout-for-fa_n_112136.html

That's a good report.
In another, Senator Dodd says they are thinking of giving the two private companies direct access to borrow funds from the Fed Reserve!

The US debt is 9 507 260 695 531 (that's 9,5 tillion) at the start of my writing these words.

http://www.brillig.com/debt_clock/

There is no greater threat to the US nation than the astronomical speed with which this debt is building. And who's addressing it!?!??! Certainly not the elected officials, whom keep inventing all kinds of ludicrous diversion propaganda.

What's more is the portion of that foreign debt that is held and controlled by foreign OIL PRODUCING contries, and leading the pack those 'bankers' of US foreign debt bonds, ... ?!?!?
... you've guessed it CHINA!!!

There will be no need for a war with China for that country to take economic control of the US. Forget it! Beside the fact that it would be a despearate loosing battle, China would simply have to STOP BUYING US debt bonds, and allow the interest rates that the US must pay to attract buyers, to rise to new highs (already at an historic high as we speak).

This asphyxiating debt is the product of the obsessive 8 years hunt for oil, while having everyone believe that it is a war against 'evil'.

There is a very serious threat (death blow) to US relative economic and social independence from the rest of the world.

But look no further than HOME. The threat is the US itself!!!

Contrary to the current administration's smokescreeen experts whom have worked real hard at having some believe that the threat is of an 'external evil' kind, a solid proportion of people are waking up to the only scoreboaqrd that matters when it comes to economic indepence:

'WHO CALLS IN THE MORTGAGE IN CASE OF DEFAULT?!?!?'

In the current situation that the US finds itself in, the leading mortgage holder is CHINA.

You had better be nice with evething Chinese from this point on, for WE HAVE MET THE ENNEMY, and it not China, not Russia, not Iran, not the Talibans, ... IT IS US!!!



'... remember what the debt was at the beginning of this post, 13 minutes ago?!?!?

9 507 260 695 531

WELL 13 MINUTES LATER IT STANDS AT

9 507 312 098 191

IN THE TIME IT TOOK ME TO WRITE THIS, IT JUMPED TO

9 507 314 301 735

Check it out for yourself.
Visit http:www.brillig.comdebt_clock/ and press the 'refresh' button. It makes for a powerful reality check.


Sorry, we are now at 9 507 318 408 309 and going up in smoke at lightning speeds.

Man I love you!

Actually, the US has had a national debt since the thirties. World War 2 jacked it up considerably. During the '90's, we had a small budget surplus yearly, but, insignificant compared to the size of the debt. The majority of the amount is in social security trust funds, which, by law, must be invested in gov't issued bonds, which the politicians promptly spend on other stuff. If you think it is bad now, wait and see the growth in it when health care is nationalized and mandated, as some of the liberals want to do now. Mass is doing it, and the first years costs were more than double the estimates. Independent analysis indicates that in 10 years, health care will eat up the entire Mass budget.

Man I love you!






As long as we are both clear that it is this fraternal, universal, and 100% PLATONIC kind of love we're talking about,

... I LOVE YOU TOO FANTA!!!

Man I love you!






As long as we are both clear that it is this fraternal, universal, and 100% PLATONIC kind of love we're talking about,

... I LOVE YOU TOO FANTA!!!

I'm afraid 'willy_cents', that your comment is suspiciously guilty of gross generalisation.

While the notion of National Debt agaisnt GNP isn't a new phenomenon in general, the proportion of debt against GNP on the one hand, and the proportion of debt bonds (50%) held by foreign holders lead by China on the other hand, are the seriously disturbing specifics that seem to escape your general 'skim over-analysis'!

Partisanship has little, or no place in this screaming numbers based discussion.
If there is one place where all should agree, this is the one: 'huge threat to US hard earned economic independence'!!!