Wednesday, January 07, 2009

American Financial Sub Prime Dead Beats Cost More than the War on Terror

I said it before, I said it in my book, and by God, I'll say it again;

The sub prime degenerate scumbuckets of America caused more damage and have cost more than the terrorist attacks and subsequent war on terror;

Sorry to bring this horrible truth to light.


Anonymous said...

So, if (according to the 2008 Merill Lynch/Capgemini World Wealth Report) the millionaires in the world (10.1 million millionaires), control 40.7 trillion dollars, and the current account balance of the top 5 countries is a trillion dollars, at what point does the US public debt run out of available capital for investment?

If our current debt is ~10 Trillion, are we nearing a point where there is no money left out there to be invested and we have to finally pay the piper?

Of course, none of this accounts for the billions controlled by businesses, but at what point will the US will lose it's AAA debt rating because its prospects for securing more capital to finance its debt will dry up?

Bike Bubba said...

I love how there was a budget "surplus" in 2000 and 2001 while the national debt increased. No funny accounting there, nosirree.

Anonymous said...

I'm also seeing red because some morons forgot to adjust the data for GDP growth...


It has nothing to do with funny accounting here, just plain simple math ;-)

Bike Bubba said...

GDP growth does not change the fact that when you run a surplus, debt should go DOWN, not UP. The trick here is that the actual deficits are about $200 billion higher than stated, and are paid out of the current Social Security surplus.

Surplus using fraudulent accounting; the actual unfunded mandates are adding up at about a trillion bucks a year. Yikes.