A figure

[Richard Ryan]

Think there was a federal debt clock up on 6th Avenue not too far from Times
Square -- not sure if it's still there or not.

Here's a useful on-line counter.

http://users.erols.com/tmoy/debt.html

This, of course, is just the us government debt.  According to the website
of the Federal Reserve Bank of NY (ISIOTWSIMBT*):

"In September 2001, M1 was almost $1.2 trillion, less than half of which
consisted of currency. While as much as two-thirds of U.S. currency in
circulation may be held outside the United States, all currency held by the
public is included in the money supply because it can be spent on goods and
services in the U.S. economy. M2 was $5.4 trillion, and M3 $7.8 trillion.
The Fed's debt measure, which includes the debt of the federal, state, and
local governments, households and nonprofit organizations, and businesses,
was $19.1 trillion."

So it looks like the Fed thinks the aggregate debt number is $19 trillion.

*I saw it on the web so it must be true


-----Original Message-----
From: KXX4493553 at aol.com [mailto:KXX4493553 at aol.com]
Sent: Wednesday, March 12, 2003 6:06 AM
To: himself at richardryan.com
Cc: pynchon-l at waste.org
Subject: Re: A figure


In einer eMail vom 12.03.2003 11:26:46 Westeuropäische Normalzeit schreibt
himself at richardryan.com:



Interesting figure.  Source?

KXX4493553 at aol.com writes:

> 32 000 000 000 000 $
> These are the whole debts of the USA, private and state debts together.
And
> only the USA. Who does them pay back? The Wall Street? Big Pretzel?
Saddam?
>
> Just a question..........
>
> kwp




>From a German leaflet, here called "flyer". It was published in the city
Duisburg. I wrote them where the data come from, when they answer then I can
say you more.

But I think it is a realistic figure. The German debts in relation to the
population are not quite so high, but I think 2/3 of the US debts.

Last spring I was in NYC and is my memory right that there is a huge "debt
clock" at Times Square?
kwp