World and U.S. Debt Load, California Debt North Korea

My concern level has elevated after looking at some debt statistics here and worldwide. Notice the U.S. stock market keeps looking for more good news daily. This reflects no long-term up trend, given this view. Here are some numbers that we all need to be aware of:

* The U.S. government has $11.2T in debt which is 79% of GDP at $14.1T. Money is being printed to pay the interest on it. California doesn't have that option.

* California has sold close to $14B in bonds this year to cover the debt (this is only the for the first half), compared to around $8B for all of 2008. This state's credit rating is the same as Russia's.

* The emerging markets are paying less for insurance against debt default than we are overall. For example, Turkey paid less for this coverage than New York City for two weeks.

* The U.S. Federal government alone has a debt load close to the sum of 95% of the world's population. That is excluding the $47T in total public and private debt.

I think we are riding a debt wave of such magnitude that it is invisible to this country and the world at this time. It is beyond human comprehension. Yet we are all here to enjoy the ride depending on our attitude when we realize by looking at the rest of the world that we are over our collective heads. The statistics given here are an indicator of how far along we are moving.

Also, North Korea has indicated that it wants better relations with U.S., this coming on the heels of Bill Clinton's visit. I suggest that the way he used words was effective and either he should continue what has been started or someone needs to be coached by him. He knows the importance of psychology.