Friday, November 7, 2008

Cheer down

Guy named Jim Rogers, who messes about with big-time money, observes:
America is bankrupt. American government bonds are extremely overvalued. “The world’s last bubble.” America is in debt for over 13.000 billion (13 trillion) dollar and adds a 1.000 billion dollar debt each year. …

Read the whole post here
and pity Obama, who has to contend with this tangle. There won't be a lot of money lying around for jobs programs or comprehensive health-care reform or much else. Apparently there will be massive welfare coming up for the auto business, which has obdurately ignored the reality of oil while they pursued big bucks making oversized and impractical SUVs. Don't get too excited about the drop in gasoline prices; guaranteed, it won't last long. For our part, it's a lovely evening, we ate pasta with tuna and tomatoes and followed that with stinking cheese and ripe pear, so life continues at some pleasurable level no matter what.

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