Uncle Sam might let the margin loan borrowers go down. Ditto for the repo agreement people. The derivatives are the financial elephant in the room that no corporate party Presidential candidates or Congressional candidates want to talk about. Yet. Not all of the $315 trillion in derivatives in the US will go belly up. Most expire within 10 years, although some derivatives are for longer. In a close to worst case scenario, $135 trillion in derivatives will go bad between late 2015 and 2020. Wall street can't pay $135 trillion for bad derivatives. So, how is the US government going to pay for $135 trillion in derivatives gone bad in a collapsing economy?
Deagle Inc., a military/intel supplier, circulated a worst case scenario of US GDP falling from $17.4 trillion to $0.8 trillion and "depopulation" events declining the US population from 319,000,000 to 80,000,000. Which would mean a drop in average GDP to about $200 per person per month in the USA (what the minimum wage is in some inland Chinese provinces).
The total that the government in the US has to pay is $32.77 trillion plus $7.252 trillion for pensions plus $7.21 trillion for government healthcare (all 3 figures as of Summer 2015) equals $47.232 trillion plus routine Federal government operating costs of $2.6 trillion a year (excluding Medicare & Medicaid).
Autumn 2015 bottom line: $49.832 trillion owing by the government in the USA.
Add $135 trillion in bad wall street derivatives by 2020 plus another $2 trillion borrowed by the government in the USA from 2016 to 2019 for routine government spending. Add an additional $5.19 trillion in unfunded pension liabilities that the government in the USA will have to pay by 2020.
2020 bottom line: $192.02 trillion owing by the government in the USA. Costs spiral up during a debt collapse.
How is the government in the US going to pay the $192.02 trillion it will owe? The total Federal budget is about $3.5 trillion a year. The total US GDP was declared to be $16.98 trillion in 2014.
There are more government accounting tricks you should know about. The government changed how GDP is calculated. The US Federal government decided as of 2013, to count Research & Development (R & D) twice each year when adding up the GDP number. Since GDP has been calculated, scientist salaries get added in with everyone else's salaries and R & D equipment spending gets added in with all other equipment spending. Now each component of R & D gets added into the GDP number then the total R & D spending number gets added to the GDP number too. The US Federal government added $0.5 trillion in R & D costs (like scientist salaries, R & D equipment) then they added $0.5 trillion in total R & D costs when calculating total 2014 US GDP. Clever huh? Counting R & D spending only once, the US GDP was $16.48 trillion in 2014.
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