Finally someone has recognized the critical distinction beween a balance sheet and an income statement!
Two critical points. First, about half of the debt is held by the Social Security trust fund which gives a false picture of the real debt owed to real people, banks, and companies. In other words it counts as debt money it owes to itself. Not exactly GAAP.
Second, you vastly underestimate the national balance sheet. Here again one has to eliminate almost all debt (owed internally) as an “intercompany transaction.”
1. Stock Market Value – $16 Trillion
2. Real Estate Value – $45 Trillion
3. Small/Priv Business Value – $10 Trillion
4. Other Priv Assets $5 Trillion
5. Public Land Infrastructure $10 Trillion
6. Other Govt Assets $15 Trillion
Total: $101 Trillion
Would you lose any sleep lending $4 Trillion to a $101 Trillion company? I didnt think so.
