Give Good a Chance

Monday, December 14, 2009 \PM\.\Mon\.

My further, expanded thoughts on the discussions we have been having on usury and debt forgiveness.

Give Good a Chance

Comments are welcome, here or there.

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$668,621

Friday, June 5, 2009 \AM\.\Fri\.

Household Debt

Hattip to Daniel Indiviglio at the Atlantic.  USA Today is reporting that the share of the Federal debt for each American household is $546, 668 with private average debt of 121, 953.  Of course these numbers do not include the average household share of liabilities incurred by states and local levels of government.  Does anyone believe that we will ever climb out of this debt abyss except through the terrible remedies of hyper-inflation or debt repudiation?  As I have often stated on this blog the debt that we are amassing is fiscal lunacy and our economy will soon smash into a brick wall of government debt.


Debt Supernova Gets Worse

Thursday, May 28, 2009 \AM\.\Thu\.

Debt Supernova

I list below posts I have written on this blog about the US debt situation.  As pessimistic as I have been, apparently the debt situation for the nation is appreciably worse than even I thought.  Hattip to Ed Morrissey at Hot Air.  Tax revenues to the IRS are down 44% from where they were last year.  Previous debt projections, as Ed Morrissey points out, were based on the assumption that the loss to GDP this year would be -1.2%.  With GDP contracting at -6% during the first quarter on an annual basis, the economy will have to show a lot of growth for the remainder of the year for the target of a -1.2% GDP contraction to be reached.  I very much doubt if the GDP contraction will be much better than -2.5% and could easily be far worse.

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