Monday, December 3, 2007

Boring Numbers

There has never, ever been anything too big to fail. This is a pretty good article except that it buys the cash accounting figure that would land any CFO in jail. The real debt is $70 trillion (accrual accounting). Ron Paul would ease the pain by putting us back on the gold standard, but he’s unelectable. My vote is for Obama, who will accelerate the inevitable.

Even if you've escaped the recent housing and credit crunches and are coping with rising fuel prices, you may still be headed for economic misery, along with the rest of the country. That's because the government is fast straining resources needed to meet interest payments on the national debt, which stands at a mind-numbing $9.13 trillion.

No comments: