Bankruptcy 2015 - Part II http://blog.noslaves.com/bankruptcy-2015-part-ii/ Cyberactivism on Trade, Economics and Labor Arbitrage Thu, 09 Feb 2012 10:58:32 +0000 http://wordpress.org/?v=2.2.3 Bankruptcy 2015 - Part II http://blog.noslaves.com/bankruptcy-2015-part-ii/#comment-2427 Tired and Broke Fri, 24 Oct 2008 18:50:56 +0000 http://blog.noslaves.com/bankruptcy-2015-part-ii/#comment-2427 I'm sure you all are watching the S&P 500 drop instead of reading this book again today. But yes we are all screwed. I hope we are better off in 2015 than we were in 1995, but I doubt it - neither McBush nor Sentor Gov't has the balls to cut spending... too bad the richest country ever during the wealthiest period of history ever could not save a little bit for a rainy day. Instead we are all screwed... there will be no more money ever. I’m sure you all are watching the S&P 500 drop instead of reading this book again today. But yes we are all screwed. I hope we are better off in 2015 than we were in 1995, but I doubt it - neither McBush nor Sentor Gov’t has the balls to cut spending… too bad the richest country ever during the wealthiest period of history ever could not save a little bit for a rainy day. Instead we are all screwed… there will be no more money ever.

]]> Bankruptcy 2015 - Part II http://blog.noslaves.com/bankruptcy-2015-part-ii/#comment-1854 Susan Tue, 22 Jul 2008 01:43:28 +0000 http://blog.noslaves.com/bankruptcy-2015-part-ii/#comment-1854 I am glad to see somebody talking about this important book on the Internet. However, I don't understand why Clinton is given glowing marks for his budgets (not just here, but all over the Internet). The true budget was in a deficit all the way through the 90's, no exceptions. Clinton rode on the back of a fantastic financial boom which brought more tax receipts pouring into the coffers of the government which certainly helped create a deficit from getting worse. However the government has been employing Enron-style off the books accounting for a long time, and the Clinton years were no exception. Some items just "don't count" even though they've been operating in the red for who knows how long. Martin Weiss of Safe Money Report has written about this budget deception for well over a decade. Using Federal Flow of Funds reports he has come up with more accurate deficit figures. I don't have the exact figures Weiss used to calculate the deception but they run very roughly as follows (in billions of dollars - I'm reading from a graphic): Approximations "official" actual deficit deficit 1995 -180 -360 1996 -100 -390 1997 -20 -220 1998 +60 -420 1999 +120 -560 2000 +220 -100 2001 +290 -470 In 2000 Clinton had the greatest opportunity to close the gap, missing by $100 billion. I am glad to see somebody talking about this important book on the Internet.

However, I don’t understand why Clinton is given glowing marks for his budgets (not just here, but all over the Internet).

The true budget was in a deficit all the way through the 90’s, no exceptions. Clinton rode on the back of a fantastic financial boom which brought more tax receipts pouring into the coffers of the government which certainly helped create a deficit from getting worse. However the government has been employing Enron-style off the books accounting for a long time, and the Clinton years were no exception. Some items just “don’t count” even though they’ve been operating in the red for who knows how long.

Martin Weiss of Safe Money Report has written about this budget deception for well over a decade. Using Federal Flow of Funds reports he has come up with more accurate deficit figures.

I don’t have the exact figures Weiss used to calculate the deception but they run very roughly as follows (in billions of dollars - I’m reading from a graphic):

Approximations
“official” actual
deficit deficit
1995 -180 -360
1996 -100 -390
1997 -20 -220
1998 +60 -420
1999 +120 -560
2000 +220 -100
2001 +290 -470

In 2000 Clinton had the greatest opportunity to close the gap, missing by $100 billion.

]]> Bankruptcy 2015 - Part II http://blog.noslaves.com/bankruptcy-2015-part-ii/#comment-768 Real Republican Tue, 04 Dec 2007 19:22:20 +0000 http://blog.noslaves.com/bankruptcy-2015-part-ii/#comment-768 Now the dollar is falling, I predict foreign countries will throw up tariffs against the US, to protect themselves. In other words; we bend over and grab our knees with the strong dollar, and expect foreign countries to act so benevolent with a weak dollar. Now the dollar is falling, I predict foreign countries will throw up tariffs against the US, to protect themselves. In other words; we bend over and grab our knees with the strong dollar, and expect foreign countries to act so benevolent with a weak dollar.

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