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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (234473)	12/27/2009 5:34:38 PM
From: Skeeter Bug	Respond to of 306849

CR, thanks for the response... >>In his 2001 testimony, Mr Greenspan talked of surpluses for the foreseeable future: federalreserve.gov Greenspan offered projections of "an on-budget surplus of almost $500 billion ... in fiscal year 2010". The National Debt would soon be retired and the Boomer's retirements secure. Greenspan offered a projection of "an implicit on-budget surplus under baseline assumptions well past 2030 despite the budgetary pressures from the aging of the baby-boom generation, especially on the major health programs." How did that work out? ROFLOL.<< interesting article. since our debt is our money supply, greenspan knew it was impossible to pay off our debts without a total collapse in the system (not enough money to pay off prior debts with interest leading to ongoing, systemic defaults feeding off one another). so, he basically LIED to keep the con game going a little longer. doesn't this scare you at all... market-ticker.denninger.net since debt is money supply, money supply is shrinking in an environment where there is already not enough money to pay off previous debts with interest. i look at that chart and see the financial WMD the real terrorists planted in america. i hope i'm making too much of it...