Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

The Scariest Financial Site On The Web

Having made the rash move of taking my e-trade account to 75% cash on Friday, I decided to relax and open up my brain and think about what is really going on with the US economy. For some reason, I had a flashback to my youth, when my parents took me to Times Square. I remember my father pointing out the massive signage that counted the US national debt, and recall way back then how stunned I was at how fast the debt was climbing; it was in the billions, then. 

Now it's in the trillions, and climing at more than $1,000,000 every five seconds. 

Yesterday, as I was trying to wrap my brain around the "Things-Are-Getting-Better" versus "No-They-Are-Not" debate, I thought of that "clock," and for kicks decided to Bing "US National Debt Real Time." 

I was led to the following website: usdebtclock.org

This website keeps track of all the varities and kinds of both the debt and assets of the USA. It is an understatement to how I became stunned once again, to the point where I became debt-numb.

Here's a summary of what I found:

-US National Debt is $11.65 trillion, or $38,091/person

-US Spending is 2.427 trillion, or $8,072/person

The largest budget expenditures:

-Defense/War spending is $407,37 billion

-Social Security is $400.8 billion

-Medicare/Medicaid is $388.34 billion 

-The interest payments on the debt are $294.77 billion
 
The clock also has the number of "officially" unemployed at 14,611,726, and an "actual" unemployed count at 18,591,843. The clock states that we are nearing in on $60,000,000,000 traded to the Middle East for importing oil. 

If the above numbers do not scare you into a martini-gulping stagger, then what follows will. According to this "clock" the US Government bailouts are currently $11.882 trillion. The loss of national household wealth is $12.11 trillion, and climbing $100,000 every two seconds. The "Cramer-sheeple" who claim housing has bottomed are obviously misleading you. 

But the last number, the one that shook me to the core, the number that I find excruciating and frightening and maddening and outraged, is the Estimated Currency and Credit Derivatives: $644.520 trillion! And going up by $100,000 per second.

Further, the clock shows that the US unfunded liabilities are at $58.9 trillion. That figures to be just short of $192,000/person of unfunded debt. This includes the unfunded Medicare/Medicaid liability of $39.36 trillion, the Social Security liability of $10.7 trillion, and the Prescription Drug liability of $8.56 trillion.

Maybe my Friday decision to take profits and go to a large percentage cash position was a wrong one. I've never played the short ETF's; they go against my positive and bullish way of thinking. But soon, maybe even as soon as Monday, for the first time, I will begin to establish those positions.  

Nowadays, you don't have to go to Times Square to see that clock. You can see for yourself these terrifying numbers at usdebtclock.org