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Post by blueneck on Jan 23, 2007 13:54:00 GMT -6
articles.moneycentral.msn.com/Commentary/Experts/Jubak/Jim_Jubak.aspx?msn=1Jubak's Journal State of the nation? Broke When President Bush gives his State of the Union address tonight, don't expect accurate numbers on the budget. What you can count on is that the deficit is disastrous and the debt is piling up.
If you or I managed our money the way that U.S. government manages our money, we'd be headed for bankruptcy.
Imagine if someone you knew:
Took on a mountain of debt -- to buy a house, say -- at a floating interest rate and never bothered to ask if the future payments would be affordable. That's exactly what the U.S. government does. Used his annual bonus to make the down payment on a Porsche Cayenne and never worried that his current spending had created a huge future obligation for years of high payouts. That's exactly what the U.S. government does. Ran up big credit card debt because the money he was saving for his kids' college education easily balanced out that debt. That's exactly what the U.S. government does. Just kept on spending not only every bit of the monthly paycheck but every dollar that credit card companies and banks would lend, despite knowing that he would have to pay for college and retirement one day. That's exactly what the U.S. government does. Continue this article
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Post by unlawflcombatnt on Jan 23, 2007 16:36:12 GMT -6
No, we certainly should not expect any honesty.
I spent a couple of hours combing through the Leading Indicators report today. (I'll post on it later.) Suffice to say they've downwardly revised a lot of previous totals. The most insidious downward revision, however, was for the month of June. As of Sunday, 1/21/07, the published number for June was +0.2. As of today, it had been downwardly revised to -0.2. Combine this with a -0.2 revision for October, and a -0.1 revision for November, and you've got a -0.6 total downward revision for the last 7 months.
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