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Bringing the US budget in terms we can all understand:
If we divide everything by 100 million, the numbers begin to make more sense.
We have a family that is spending $38,200 per year. The family’s income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.
$380/yr for premium cable? That sounds cheap. Not take-out-another-credit-card cheap, but cheap for anyone not experiencing a $16,500 annual shortfall.
It's an analogy of sorts. The $380 per year is representative of the cuts to the budget that have been proposed.
Ahhh, I'm an idiot. Thanks.
major story that completely off everyone's radar screens? Uranium stocks down 50-80% since japan crisis! Major buy?? I would think so! Good commentary on it! http://www.youtube.com/watch?v=f-EkkhJi9VY
Find the discrepancy of these two headlines:
Contradictions do not exist. Whenever you think you are facing a contradiction, check your premises. You will find that one of them is wrong. -Ayn Rand
My guess is they are both false. No more rate hikes, and Chinese banks will need much more money than $131 Billion.
i always like this post. helps organize reading material for the day.
The last time Obama went to war with Wall Street, the biggest of the taxpayers, the market sold off hard: http://www.hedgefundlive.com/blog/thursday-market-expectations-jamie-dimon-gave-us-a-hint-today
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