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2010-04-28 Economy

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Posted by Anonymoose 2010-04-28 06:56|| || Front Page|| [2 views ] Top

#1 and the UST will have a $260 billion in cash burn in April.

Makes the Greek debt problem look like a tiny pimple on a 15 year old's pizza face. But I guess pointing that out makes me racist or ageist or sexist.

Posted by ed 2010-04-28 09:47|| 2010-04-28 09:47|| Front Page Top

#2 The way things are going right now, the USG is planning inflation spurts based on monthly debt monetization. What this means is that with no one buying US bonds, each month they print money to pay the previous month's debts, which converts directly to inflation.

Keep an eye peeled at retail stores. They will probably boost prices before each new monthly printing. This will be a cue as to how painful the "continuing resolution" federal budget is working out.

As things are right now, it would not be unlikely to have 25-50% annual inflation by years' end.

Posted by Anonymoose 2010-04-28 10:07|| 2010-04-28 10:07|| Front Page Top

#3 25-50% annual inflation by year's end?

If true, Jimmy Carter ain't lookin so bad. Well maybe that's an overstatement.

Posted by JohnQC 2010-04-28 15:57|| 2010-04-28 15:57|| Front Page Top

#4 I don't know about you but the following gives me a bad case of heartburn:

Public debt $12.28 trillion (January 2010)[8] 84% of GDP
Revenues $2.106 trillion (2009)[9]
Expenses $3.515 trillion (2009)[9]

Posted by JohnQC 2010-04-28 16:22|| 2010-04-28 16:22|| Front Page Top

#5 JohnQC: It's a lot worse than that. In addition to actual expenditures, those birds in D.C. have been making insane promises, commitments, for the future, in the tens of trillions of dollars. And supposedly, these are "mandatory" spending that cannot be reduced.

They haven't just killed the golden goose. That thing is roadkill after a few weeks on the Interstate. Just a few dirty and decrepit feathers left.

Posted by Anonymoose 2010-04-28 19:36|| 2010-04-28 19:36|| Front Page Top

#6 Economic depression or hyper-inflation, take your pick. Although the world will probably get both.

It's like watching a runaway train and being reassured that the train has brakes and will start to brake soon, while all the time the train gets faster and faster and is on the verge of derailing at any moment.

Posted by phil_b 2010-04-28 21:34|| 2010-04-28 21:34|| Front Page Top

23:52 ed
23:48 ed
23:47 phil_b
23:43 ed
23:40 ed
23:36 OldSpook
23:35 Atomic Conspiracy
23:33 JosephMendiola
23:31 logi_cal
23:15 DMFD
23:14 phil_b
23:10 trailing wife
22:59 phil_b
22:58 JosephMendiola
22:47 logi_cal
22:39 gorb
22:36 gorb
22:33 gorb
22:30 gorb
22:26 gorb
22:18 JohnQC
22:13 JohnQC
22:11 James
22:06 JohnQC