Fiscal responsibility at it’s finest:
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
To quote the philosopher H.M. Murdock to his colleage B.A. Barakus- “She’s goin’ down boy!”
In Europe, a crisis teeters toward cataclysm – The Globe and Mail.
And now the Germans are talking of using military force to “collect tax” from Greece? Oh yes, this is going to go so well!
Market crash ‘could hit within weeks’, warn bankers – Telegraph.
Unfortunately, I agree with him. We’re in for a wild ride this fall.
The Ascent of Money – Niall Ferguson (episode1) – YouTube.
Great series about how money came to represent civilization, and may also bring about it’s downfall…