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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Proud Deplorable who wrote (26171)12/19/2004 10:07:48 AM
From: nextrade!Read Replies (1) of 306849
 
The Economist of the century ?

theeconomist.com

from your post;

financialsense.com

Our federal financial obligation is so big that it is hard to fathom. From the beginning of our nation in the late 18th century until the mid 1970’s, roughly 200 years, our accumulated National Debt was less than one trillion dollars. This takes into account the Revolutionary War, the Civil War, two World Wars, the Great Depression, the Korean War and Vietnam. Today our federal debt is now over $7.5 trillion, over half of which has been borrowed in the last dozen years.

While it took 200 years of American history to reach one trillion dollars in National Debt, it took only six years to build our debt from five trillion to six trillion dollars. Incredibly, in less than two years the National Debt soared another trillion dollars, reaching seven trillion in January 2004. Do you detect a frightening trend here? But no worries! Congress just raised the debt ceiling to $8.2 trillion, so we can keep on borrowing. At the current rate, each day adds $2.5 billion more, or 2 ½ new paper skyscrapers to the thousands already inhabiting our National Debt skyline.

2 1/2 billion clownbucks per day !
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