Thursday, August 21, 2008


Nothing particularly exciting going on these days in the world of economics. The market is going sideways, with not much to kickstart it. Here's an article on the release of an interesting film, I.O.U.S.A.

Some excerpts:

Peterson said the meager U.S. rate of savings today means that roughly 70 percent of the nation's debts are being bought by foreign investors, and that could create geopolitical and economic problems for the country.

[70%?! Seventy percent of our debt is owned by other countries? &^!$#!]

The U.S. government owed roughly $53 trillion more than it had at the end of the 2007 fiscal year

[53 trillion?! &^!$# &^!$#!]

Sometimes I dream we live in a perfect world, and the new President's Cabinet will include Pete Peterson, David Walker, and Richard Fisher. [crossing fingers]

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