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Born at the Crest of the Empire

Thursday, November 08, 2007

$9 Trillion

The national debt has hit $9 trillion for the first time.

When President Bush took office, the debt was $5.6 trillion.

2 Comments:

  • The dollar is at an all-time low (the Canadian dollar costs $1.10...$1.47 for a euro...$2.07 for a pound...)

    The Fed has injected more money into the financial system this week than they did after 9/11.

    Financials are taking write down after write down over the subprime mess.

    Oil is set to hit $100 any day now.

    Gold is near $850 an ounce.

    Wheat, soybeans and other commodities are at or near all-time highs.

    The Fed says only core inflation matters, so ignore inflated commodity and equity prices.

    We're fucked.

    It's like the 70's all over again.

    By Blogger Reality-Based Educator, at 6:15 PM  

  • Yeah, and then you've got the Fed chief, who has been out of place sunny on all this, coming out today, making headlines, predicted a recession.

    It does not look good. Economy will be a big issue next year.

    By Blogger mikevotes, at 6:20 PM  

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