Skip to main content

US debt held by the Fed: Just another chart

... or maybe another way to understand whether a big financial crisis is about to explode

globinfo freexchange

Just before the 2007-08 big financial crisis hit its more critical stage, Sep. 2008, and the proposal of the 700 billion bailout to the banks (http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308), from the fourth quarter of 2007 to the second quarter of 2008, the US debt held by the Federal Reserve banks, dropped dramatically, from 740.6 billion to 478.8 billion, or, by more than 35%. (chart I)

In terms of GDP for the same period, the US debt held by the Federal Reserve banks, dropped from 5.04% of GDP to 3.23% of GDP. (chart II)

But the big picture comes if we dig back to the available data. From the corresponding charts (III and IV) since 1970 until today, it is clear that we cannot see such an abrupt drop of the debt held by the Federal Reserve.

See also:

Comments

Popular posts from this blog

August 12, 2020: The day capitalism officially died and replaced by something even worse

globinfo freexchange   It was the 12th of August, 2020. Nine o'clock in the morning, in London, the news came out that the national income of Britain (GDP) had fallen by more than 20% . That had never happened before in the history of capitalism - British GDP falling by 21% or so in one year. It was not anticipated. The markets were expecting a fall of 8,9,10%. No one was expecting a 21% fall. Fifteen or sixteen minutes later, the London stock exchange went up by 3% . There can be no explanation of that along the lines of capitalism.     This is how the Greek economist, Yanis Varoufakis, described essentially the official death of capitalism and its replacement by something even worse. The thing he calls "technofeudalism". While Varoufakis in various discussions struggles to explain why capitalism is already dead, it's rather funny that people still willing to debate on something that's already dead (capitalism) against something that's far from being practi

US Gov discussed killing Assange & possibly Ellsberg

Katie Halper  Daniel Ellsberg and Julian Assange have a lot in common and Daniel Ellsberg is the first one to point this out. Daniel goes over how they both exposed state secrets, how the government attempted to use the Espionage Act against them, spied on them and while we know for certain that the CIA discussed killing Assange, the US Government may have discussed killing Ellsberg when they said they'd "incapacitate," him.

Edward Snowden, Glenn Greenwald & Chris Hedges on NSA leaks, Assange & protecting a Free Internet

Democracy Now!   NSA whistleblower Edward Snowden and Pulitzer Prize-winning journalists Glenn Greenwald and Chris Hedges discuss mass surveillance, government secrecy, Internet freedom and U.S. attempts to extradite and prosecute Wikileaks founder Julian Assange. They spoke together on a panel moderated by Amy Goodman at the virtual War on Terror film festival after a screening of "Citizenfour" — the Oscar-winning documentary about Snowden by Laura Poitras.  

Evidence that the US imperialists were pre-planning to arm and train the neo-nazis in Ukraine

globinfo freexchange   There is plenty of evidence that the Western imperialists and their European allies supported neo-nazi groups in Ukraine during the 2014 "Maidan revolution", which led to the ousting of elected President Viktor Yanukovych, and the overthrow of the Ukrainian government.   Protests originally erupted in November 2013 after President Yanukovych refused to sign a political association and free trade agreement with the European Union at a meeting of the Eastern Partnership in Vilnius, Lithuania, choosing closer ties with Russia instead.  The support of Ukrainian neo-nazis by the US imperialists continued further during the Obama term. For example, as the World Socialist Web Site reported on early 2016:   The 2016 Consolidated Appropriations Act, signed into law by US President Barack Obama late last year, did not include a previously expected ban against the funding of the Azov Regiment, a military organization that originated as a volunteer militia

US & UK Destroying Assange & Press Freedom

The Jimmy Dore Show    

'Ετοιμο το πράσινο δεκανίκι του καθεστώτος - γιατί οι ολιγάρχες επέλεξαν τελικά τον Ανδρουλάκη

globinfo freexchange   Σε προηγούμενο άρθρο , εκτιμήσαμε ότι ο βαθμός δυσκολίας για τους ντόπιους ολιγάρχες - προκειμένου να κατασκευάσουν μια απόλυτα ελεγχόμενη κυβέρνηση συνεργασίας ΝΔ-ΚΙΝΑΛ - ανεβαίνει όσο μικραίνει η πιθανότητα νίκης του Λοβέρδου που είναι η πιο πιστή μαριονέτα, ή του Παπανδρέου, που είναι η αμέσως επόμενη τους επιλογή, αφού είναι εξαιρετικά διαχειρίσιμος. Αλλά το ΚΙΝΑΛ γενικά είναι του χεριού τους.   Απ'ότι φαίνεται και τα δυο αυτά χαρτιά κάηκαν γρήγορα, αφού ο μεν Λοβέρδος δεν μπόρεσε να κρύψει τη δίψα του για σφιχτό εναγκαλισμό με την χειρότερη δεξιά που κυβέρνησε στη μεταπολίτευση. Τον δε Παπανδρέου δεν κατάφεραν να τον ξεπλύνουν τα μιντιακά πλυντήρια των ολιγαρχών, καθώς απ'ότι φάνηκε, κυρίως στα σόσιαλ μίντια, ο κόσμος δεν ξέχασε ποιος έφερε τον εφιάλτη της συμμορίας του ΔΝΤ στη χώρα.  Οι ολιγάρχες έπρεπε να κάνουν μια ολική επανεκκίνηση στο πράσινο δεκανίκι τους, ώστε το ξέπλυμα να είναι όσο το δυνατόν πιο αποτελεσματικό. Έπρεπε να βρουν τον κατάλλη

Confirmed: Unpopular US President Kamala Harris is the most faithful puppet of the corporate oligarchy

globinfo freexchange     A recent article published on Bloomberg exposes impressively two things:    First, that the Democrats have no intention to even slightly move from their pro-corporate positions and towards the interests of the US working class; on the contrary.   Second, the elites essentially replaced Joe Biden with Kamala Harris.    The article was re-published by various websites and the surprises already start from the title: Harris quietly taps Wall Street, tech CEOs for advice on policy . Not that it is something we didn't expect, but why a top establishment outlet admits that Harris "quietly" runs to the banking-corporate oligarchy for "instructions"?  Perhaps more surprisingly, the answer can be found within the article itself:   The corporate world has provided a familiar source of help. As California's attorney general, Harris gained a reputation for frequently partnering with technology companies — rather than prosecuting them — as

It's getting worse: Mitsotakis regime targets top investigative journalists in Greece

globinfo freexchange   In November of the previous year we watched Mitsotakis regime in Greece taking steps to suppress further press freedom in the country, through some proposed amendments to Article 191 of the Criminal Code. The International Press Institute then concluded that " Rather than improving the existing Article 191 of the Criminal Code, which is already problematic, the government of Prime Minister Kyriakos Mitsotakis would take a major step backwards if this law were eventually passed and send a worrying signal about the administration’s commitment to media freedom. " It seems that the regime is using now these changes (introduced on the pretext of "dangerous" misinformation related to COVID-19 pandemic and other issues) to go after top investigative journalists, who, were investigating big corruption scandals. Recently, investigative journalist Gianna Papadakou, was targeted for exposing officials believed to have received bribes from the Swiss pha

Day 1000: Julian Assange still in prison and under slow-motion execution by the Anglo-American imperialist criminals

failed evolution   World's number one political prisoner, Julian Assange, still in high security prison for exposing horrendous war crimes carried out by the US imperialists and their allies.   The ruthless Western imperialist regime wants to punish the No1 real journalist in the world and make him an example for any Whistleblower or real journalist who will attempt to expose its big crimes in the future.   That Assange, who is in precarious physical and psychological health and who suffered a stroke during court video proceedings, has been condemned to death should not come as a surprise. The ten years he has been detained, seven in the Ecuadorian Embassy in London and nearly three in the high security Belmarsh prison, were accompanied with a lack of sunlight and exercise and unrelenting threats, pressure, anxiety and stress.    His steady physical and psychological deterioration has led to hallucinations and depression. He takes antidepressant medication and the antipsych

[Petition] Tony Blair to have his "Knight Companion of the Most Noble Order of the Garter" rescinded

Tony Blair is to be knighted with the highest possible ranking in the new year honours list, Buckingham Palace has said. Sir Tony, who held the keys to No 10 between 1997 and 2007, will be appointed a Knight Companion of the Most Noble Order of the Garter, the oldest and most senior British Order of Chivalry. Tony Blair caused irreparable damage to both the constitution of the United Kingdom and to the very fabric of the nation's society. He was personally responsible for causing the death of countless innocent, civilian lives and servicement in various conflicts. For this alone he should be held accountable for war crimes.  Tony Blair is the least deserving person of any public honour, particularly anything awarded by Her Majesty the Queen. We petition the Prime Minister to petition Her Majesty to have this honour removed.   Sign here: https://www.change.org/p/the-prime-minister-tony-blair-to-have-his-knight-companion-of-the-most-noble-order-of-the-garter-rescinded