Wednesday, March 02, 2011
Random Economic Thoughts
Our national debt continues to skyrocket. If you are feeling at all suicidal, don't click on the link. I will not be responsible for your death.
Banks are using bailout money to buy T-bills.
The commercial real estate market is near collapse.
The fake phony fraud Deceptecons voted yesterday to make cuts of a few billion dollars, then they had the balls to publicly pat themselves on the back about it. All but a handful of Republicans voted for this fraud. If the spending is not cut by about $750,000,000,000 in the next few weeks, we will have to raise the debt limit yet again.
In an unrelated story, gold closed at an all-time record high of over $1430 an ounce; silver closed at almost $35 an ounce.
I remember well overhearing some friends discussing gold and silver. My friends were amused by their parents' gold and silver buying, which at the time was at $800 and $10 an ounce, respectively. As is often said, who is laughing now?