The chart to the right is self explainatory. The debt figures are a combination of government budget, households and corporate debt.

NOT INCLUDED in this are the OFF THE BOOKS shortfall of the unfunded future obligations for Social Security and Medicare whose present value is about $44 Trillion (with a `T`)... That $44 Trillion is IN ADDITION to this. Click on the chart for larger view

Email comments to: F.O.M.C. at chowk dot com(no dots between FOMC)

Random Thoughts: The Headquarters of Chowk FOMC have moved yet again. This time further east, to Islamabad, from the UK Moving to the UK enabled us to look at the Big Picture from the other side of the Atlantic. Now, we have even a clearer picture from further afar. Not just Wall Street but also The City, can be seen with telescopic clarity.

Favorite Reading: This month: Running on Empty -- by Peter Peterson
Favorite Writers:

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