National Debt Doubled over the Weekend...

[da3dalus]

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The clip is about 8 minutes long but worth every ounce of your time.

just think that is absolutely astounding when you think about it...

Its taken us 240 years to get our debt to the current levels and we doubled that in TWO DAYS.

Our government is bankrupt people... this is prolifically bad.

More importantly... this clip illustrates 110% what is wrong with CNBC and the media in general when it comes to reporting on the economy. Mr. Rogers is speaking 210% the truth, and the CNBC folk just keep on the B.S. of "short sellers are the problem", we need to bail out and it will save us... etc...

Wake up and smell the truth folks. I love this clip... hes making them look like the idiots they are.

 

[sahtt]

Sometimes I wish I knew less about things like this.

Here is another one for you my friend. So the ignorant bumbling american tax payer just purchased all or much of these two organizations [besides bear stearns which 'we' also own a big chunk of because we gaurantee their debt to a huge extent].

When the firms' stock prices eventually recover and probably double and double again, who will get the capital gains on their investment. The shareholders-who took the risk fair and sqare and LOST-will reap the benefits of our capital assurance. The tax payers on the other hand, just pay MORE taxes to cover the debt used to provide this 'service' unwillingly.

It's pathetic. The part about the government's decision to fund the firms isn't as surprising to me but the magnitude of the ordeal is. The ironic thing to me is how the individual american is entrenched with debt as is the national government [and many local/muni's/states] and along similar patterns.

 

[jond]

Thanks for sharing.
It's a tough situation. I'm not sure what the answer is.

 

[Ski_Banker]

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The clip is about 8 minutes long but worth every ounce of your time.

just think that is absolutely astounding when you think about it...

Its taken us 240 years to get our debt to the current levels and we doubled that in TWO DAYS.

Our government is bankrupt people... this is prolifically bad.

More importantly... this clip illustrates 110% what is wrong with CNBC and the media in general when it comes to reporting on the economy. Mr. Rogers is speaking 210% the truth, and the CNBC folk just keep on the B.S. of "short sellers are the problem", we need to bail out and it will save us... etc...

Wake up and smell the truth folks. I love this clip... hes making them look like the idiots they are.

Careful there buddy. Honesty like this makes people uncomfortable.

All you can do is work hard, be nice to others, and stay dirt poor. That's how you'll get ahead in the coming years.

 

[sahtt]

SKF is just about 50% off its all time highs, I already reloaded so let the bodies hit the floor.

 

[SWIFTVISION]

Thank god I own machine guns.

 

[Ski_Banker]

LOL
I'm not class 3, but I do have a scar on my left hand from accidentally grabbing the red hot barrel of a BAR. It was worth it. :biggrin::biggrin: