Concern grows over a fiscal crisis for U.S. »
Posted by: berkeley 1 month, 1 week ago"People seem to think the government has money," said former U.S. Comptroller General David Walker. "The government doesn't have any money." A rare consensus has developed across the political spectrum that the government's own fiscal affairs are precarious, with an astonishing $53 trillion in long-term liabilities.
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hyperbola1 month, 1 week ago
The corruption of the banking / finance cricles in the US is now coming home to roost.
Eulogy For The "Ownership Society"
Money â;; The Fed's emergency rescue plan for financial markets is a hopelessly flawed, scattershot approach that doesn't address the real problem: an unregulated, unsustainable finance system that emerged in full-force after 2000 and spawned a corrupt shadow banking system that creates trillions of dollars of credit without sufficient capital reserves.
http://money.propeller.com/story/2008/07/18/eul...
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berkeley
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