The global slump of 2008-09 has begun as poison spreads

The Telegraph ^ | 5/13/2008 | Ambrose Evans-Pritchard

[JasonC]

Contracts are bits of paper with scribbles on them. Particularly those where one side is a mere agent for the sovereign voters.

A party that doesn't have any assets can't pay. Otherwise, you and your favorite pol just write a "work" contract promising to pay you $30 trillion a year for life, then he declares bankruptcy, and you own the world.

"Not the way it works".

Move all possible assets out of the way of the union shake-down. Dissolve the municipality, and start over. Just as I said.

[Toddsterpatriot]

The system is designed that way. but don’t worry your portion of the National Debt is still about $200,000 and climbing fast, another symptom of the disease (free credit money)

Another symptom of poor math skills. LOL!

[eyeamok]

Poor math??

National Debt 59 trillion +
just under 300 people million in US.

Show me where my Math is wrong please, or are you a graduate from the public school system.

Eyeamok

[eyeamok]

http://www.freerepublic.com/focus/f-news/1638160/posts

Yes I include UNFUNDED LIABILITIES as Debt, to do otherwise would be dishonest, but hey lets not let facts get in the way of your feelings, I don’t usually engage in a battle of wits with unarmed people, but I will make an exception in your case.

Eyeamok

[Toddsterpatriot]

Poor math??

Yes.

National Debt 59 trillion +

Not even close.

or are you a graduate from the public school system.

I suspect you failed to graduate from the public school that gave you such poor math skills.

[Toddsterpatriot]

Yes I include UNFUNDED LIABILITIES as Debt

You included money that has not been borrowed? Where did you get that definition of debt?

to do otherwise would be dishonest, but hey lets not let facts get in the way of your feelings,

Your feelings aren't the same thing as facts.

I don’t usually engage in a battle of wits with unarmed people

Because you lose to them too. LOL!

[RightWhale]

the Fed's monetary blitz has averted a depression.

This is still the Great Depression and has been since 1929.

[absalom01]

gocha...thanks

[absalom01]

It’s a real problem here, and the one thing this writer got right is that there will probably be more chapter 9 filings by California cities this year.

But it’s not a revenue problem. It’s spending spending spending...this time it’s the public employee unions (by the way, I’m a member of one, so I’m not trying to pick on them), next time it will be paying for services for, ahem, undocumented Americans and their kids.

But the only solution that you can discuss in polite company is raising taxes...

[RSmithOpt]

That's my entire point....Gov. Sleezely here in NC, is raising taxes on tobacco and alcohol to provide teachers a raise in a cooling economy.....just in time for the elections too!!

"Excuse me, but don't non-consumers of alcohol and tobacco also send their kids to public school?"

This is the gov that raids the DOT fund to hand out freebies to all the illegals, not to mention illegally 'borrowing' from the state employees' retirement (pension) fund too.

Easley is a useless POS lib slime...back in 2002, they raise taxes on NC taxpayers during a recession. Go figure.

NC transportation panel recommends bond

Easley promises blank check to fix probation problems

General Assembly returns to Raleigh

At the beginning of his term in 2000, under Sleazely, he slashed mental health funding and other programs to pay for the $800 million / year costs of illegals in our state.

I hope we soon stop this madness in NC.

[ViLaLuz]

French Lick? Yeccchhh.