Did you know that given the current financial standing of the biggest banks in the U.S., the country is quickly moving towards a possible financial Armageddon? Calculating the total U.S. debt is not that simple. There is a lot more that goes into it apart from the obvious economic indicators.
The U.S. Debt Clock may be able to provide us with a ballpark “figure” for the amount of debt the U.S. is currently under, but the extent of its accuracy is debatable. To find out what construes as the U.S. debt, how it accumulated, who has to repay it, what is the total debt standing of the U.S., how it impacts the banks, and what role derivatives play in its calculation – we will be exploring each of these elements one by one in this book.