Some one has to start it, Americas default.

little something a friend sent me that I thought you all might just enjoy


• U.S. Tax revenue: $2,170,000,000,000
• Fed budget: $3,820,000,000,000
• New debt: $ 1,650,000,000,000
• National debt: $14,271,000,000,000
• Recent budget cut: $ 38,500,000,000

Let's remove 8 zeros and pretend it's a household budget:

• Annual family income: $21,700
• Money the family spent: $38,200
• New debt on the credit card: $16,500
• Outstanding balance on the credit card: $142,710
• Total budget cuts: $385.

now I'm going to add in the average estimated unfunded entitlements at roughly 100 trillion, the numbers become


• Outstanding balance on the credit card: $1,142,710
• Total budget cuts: $385.

means that we've done next to nothing to actually reduce the debt

 

OK, Boston, its time to stop saying things I agree with. Get back to climate garbage so I will know I haven't drunk the kool-aid.

 

you been slurping down kool-aid for a while brother. Your just developing a resistance to it lately. Means your finally coming to your senses ;-)

 

US taxpayer has kept Europe afloat since WW2. THey never paid their fair share of the Cold War, and we taxpayers through the Marshall Plan lifted them from the ashes. Some there even hate us for the effort.

 

But you have, all of it, and lots that isn't even made yet

 

Yummy!

 

Those were the EU banks that had gambled on either the US housing mortgages and or Derivatives based on them

 

thats true and the UK got more than the rest and have nothing to show for it

 

For those into BIG numbers and scaring themselves stupid - - carefully read these links provided by Bix Weir
http://themancommon.blogspot.com/2011/08/bank-of-americas-backdoor-bailout.html - - on Bank of America's slow implosion and it has to do with the VERY Shaky Derivative Complex. in the vicinity of US$52,504,829,000,000 - - http://www.occ.treas.gov/topics/cap...derivatives/derivatives-quarterly-report.html - - According to Bix www.RoadtoRoota.com "That means they were on one side or the other of a "side bet" totaling over $52 Trillion. Win or lose that's A LOT of money to play with for a bank with total assets of only $1.4T and a market cap of $62B. I would say that Bank of America would fall into that "catch all" category of so many banks these days..."Too big to fail...but too big to save!" "

 

After this last US bank fiasco (self inflicted..again)the industry is saying its becoming very close to the airline industry in that in its history it has never created any wealth.
Transferred plenty (stolen in some minds) from ours to their pockets

 

http://www.goldmoney.com/video/davies-turk-interview.html Very good interview and two very knowledgeable people...

 

POP!

http://news.yahoo.com/gold-drops-4-percent-one-week-low-near-183440212.html

"Gold futures fell more than $100 on Wednesday, one of the steepest falls ever, as strong U.S. economic data and expectations of more Federal Reserve stimulus accelerated profit taking from the safe-haven record high of a day ago.
Selling spiraled out of control as money managers competed to liquidate positions in COMEX futures, which experienced their biggest single-day dollar loss since 1980. Volume looked like a record.
The price of gold bullion is now more than $150 below Tuesday's all time high of $1,911.46 an ounce, downed by intense speculation about whether the Fed will announce new plans to ease monetary policy at a meeting late this week."

 

Not so, Gold and others have a LOOOOOOOOOOOoooooooong way to go up.... That was to wipe out the "paper holders" and clear some of the huge positions in naked shorts on COMEX... (sucker bait)... more volatility to come on the way up...
http://www.gata.org/node/10337 - - - "Gene Arensberg: Gold blow-off chart is a parlor trick"
http://www.gata.org/node/10336 - - - "Take two Embries and call the doctor in the morning"
http://www.gata.org/node/10338 - - - "We beat the Fed and you can put the framed proof on your wall"
say no more

 

Yes yes... "buy and hold"...

Gold already had the worst drop since the 1980's today. Wouldn't you be saying the world was going to end if the DJIA had the same percentage drop?

That was a 7.8% drop in gold just since yesterday.

The definition of a "crash" in the stock market is a double digit percentage loss. Gold is very close to that today.

Don't go down with the ship is all I'm saying.

 

Use caution Mas- the gold rally was started by safe haven folks and ended by/as a pure speculation play.

All of your research will not tell the whole story.

-Gold is just one more thing which changes in value over time-