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Pastimes : The Philosophical Porch

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To: Crimson Ghost who wrote (5643)	5/3/2010 4:22:21 AM
From: westpacific	Read Replies (2) of 26251

All these bailouts to failures; it will not end good nor pretty! Simply too easy; the Global Credit Collapse will only be made ten times worse... Red an article from top hedge fund manager; US is really 850 Percent in Debt to GDP; far; far worse then is being spoken; true? ...Rob Arnott who has won 5 Graham & Dodd Awards shocked King World News listeners by quantifying all unfunded liabilities and total US debt at 850% of GDP. Rob then went on to say that the US is in worse shape than Japan... ...He did a quick calculation of US debt by adding up State, Federal, SS and MediCare unfunded obligations, individual and corporate debt. I believe he also included pensions that were in deficit and he came to a grand total of 850% of GDP... firstthings.com W

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