Thanks to ffnow for bringing this great cartoon video to attention. I'm putting it here as a easier reference for myself as I feel it's a good simple way to explain the situation at the moment in the US and how it came to that. You can read more great posts at his blog, A Journey Towards Financial Freedom. He has a really nice uncluttered site with lots of good nuggets. Thanks again ffnow.
On another related news, this short review in the Business Times Weekend caught my attention as well. Do read it, it'll take less than 30 seconds to make you wonder about the truth about the video. In an even briefer briefing, the important point to note is that spending isn't slowing and the deficit is heading to a mind-blowing US$1.5 trillion! Just had to bold it for emphasis heh.
Cheers,
~K
US federal deficit heading for record US$1.5t
Far from slowing, the US government's deficit spending will surge to a record US$1.5 trillion this year, the Congressional Budget Office estimated, blaming the slow economic recovery and last month's tax-cut law. What is more daunting for President Barack Obama is that it estimates a nation-wide unemployment rate of 8.2% on Election Day in 2012.
The Real Truth About Fiat Money and the Banking System
US federal deficit heading for record US$1.5t
Far from slowing, the US government's deficit spending will surge to a record US$1.5 trillion this year, the Congressional Budget Office estimated, blaming the slow economic recovery and last month's tax-cut law. What is more daunting for President Barack Obama is that it estimates a nation-wide unemployment rate of 8.2% on Election Day in 2012.
The Real Truth About Fiat Money and the Banking System
Hi,
ReplyDeleteJust chanced upon this post! Thanks for your thoughts! Cheers!
Hi ffnow,
ReplyDeleteNo worries. I've you to thank for the video anyway. =)
Cheers,
~K
Have you watched Zeitgeist: Moving Forward?
ReplyDeletewww.zeitgeistmovingforward.com
Hi EZ,
ReplyDeleteThanks for reading.
Nope I haven't watched that movie yet. I haven't even heard of it. Thanks a lot for bringing it to light. I'll watch it real soon.
Have you watched the other two Zeitgeist movies I linked up? You can check em out here:
http://therichkidwannabe.blogspot.com/2011/01/ever-wondered-how-money-supply-grows-in.html
Cheers & thanks for reading. =)