The US has doubled its national debt in one weekend

published by balabing

1 month 2 weeks ago • 2200 views

tags: Fannie, Freddy, Big Crash, National Debt

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Jim Rogers is not happy the Fed is bailing out Fannie and Freddy.

Comments

I dont know his backstory - but i like his style. That was a lot of smackdown.

written by dmac | 1 month 2 weeks ago | CH

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*promote

written by balabing

| 1 month 2 weeks ago | CH

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Post cannot be self promoted by original submitter balabing because balabing does not have enough Power Points. (You can always purchase more Power Points.)

written by siftbot

| 1 month 2 weeks ago | CH

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Nice try, balabing..

Good sift though. Smackdown is indeed right, dmac.

written by gwiz665

| 1 month 2 weeks ago | CH

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I think Fannie Mae and Freddie Mac need to get a room and make some more money babies.

written by blankfist

| 1 month 2 weeks ago | CH

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Solution:
When they come to take your home, don't let them.
Fuck a bank, it's only as strong as the power you give it...The cops who have to serve papers, are losing their homes as well.....

written by choggie

| 1 month 2 weeks ago | CH

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>> ^choggie:
Solution:
When they come to take your home, don't let them.
Fuck a bank, it's only as strong as the power you give it...The cops who have to serve papers, are losing their homes as well.....

And make them show you the promissory note.

written by littledragon_79

| 1 month 2 weeks ago | CH

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And why isn't this on the front yet?

written by bcglorf

| 1 month 2 weeks ago | CH

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Free capitalist market.. indeed. Of course it isn't. If a business fails.. it should fail.

written by honkeytonk73

| 1 month 2 weeks ago | CH

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Definition of IDIOCY: Bush blithely commenting about people needing to learn how to balance their checkbooks... and this.

written by blahpook

| 1 month 2 weeks ago | CH

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Big whoop, I went down to Vegas and doubled my national debt in 15 minutes...

written by Payback

| 1 month 2 weeks ago | CH

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Authoritative smackdown. I've seen a few videos of this guy now. I'm liking him more and more.

written by bigbikeman

| 1 month 2 weeks ago | CH

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Holy shit... the U.S. government doubled America's debt from 5 trillion to 10 trillion to bail out 2 private banks, and this isn't all over the news? No one knows about it, no one is outraged, and no one's going to do anything about it? Incredible. And I hate to say it, but what else is new? That seems to be the way things work in the U.S. these days.

written by Xax | 1 month 2 weeks ago | CH

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Nothing new here... Rich people bailing out rich people by using money from someone else (you).

written by Farhad2000

| 1 month 2 weeks ago | CH

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The last time banks were not bailed out it let to the 1929 crash and the Great Depresssion which let to WWII. Dont get me wrong, I am all for letting banks rot in hell, but our economy as currently setup is based on this make-believe system where if one card falls, the entire house will come down.

Any ideas on better economic systems?

written by rbar

| 1 month 2 weeks ago | CH

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How about communism? But still let people keep their guns.

written by Lolthien | 1 month 2 weeks ago | CH

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I was thinking more along the lines of Marxism (we share all but there is no central command), Internetism (market economy but translucent and no central command, no guidance) or a pure dictatorship (with me as dictator).

I think the last one is the only realistic option.

written by rbar

| 1 month 2 weeks ago | CH

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Uh... the US national debt was/is already $9.5 trillion. As much as I agree with his point, his continual repeating of "doubling the debt by $5 trillion" does not make me trust his math.

written by direpickle | 1 month 2 weeks ago | CH

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*news
*politics

I like what Britain did with it's troubled banks -- it nationalized them, fired the management (no bonuses, no million-dollar salaries, no stock options, just shown the door), hired in responsible adults to run the thing, and then sold the company back to the shareholders.

If the company is too big to fail, go ahead and save the company, as long as you make sure the losers who screwed up the business lose their livelihood, rather than have taxpayers guarantee their salaries and bonuses, while the bank lays off workers at the bottom.

This is a bipartisan disease, though I imagine if Clinton tried this, they'd have impeached him...again.

written by NetRunner

| 1 month 2 weeks ago | CH

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Adding video to channels (News, Politics) - requested by NetRunner.

written by siftbot

| 1 month 2 weeks ago | CH

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there's is a lot of ad hominem in here.

written by NordlichReiter

| 1 month 2 weeks ago | CH

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I like your point Netrunner. People are so busy arguing should we bail them out or shouldnt we and the affects when really we should be looking at "how" we go about. Through punishment or consequences you can reinforce others to get their act together and if done properly fat cats wouldnt have anywhere to hide and wouldnt be coddled as much as they already are. Who knows maybe we can make some money off of it, who am i kiddin, im going to go get drunk

written by Jordass

| 1 month 1 week ago | CH

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Where exactly is he getting the 5 trillion number from?

written by SaNdMaN

| 1 month 1 week ago | CH

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>> ^SaNdMaN:
Where exactly is he getting the 5 trillion number from?

Together, the two companies own or guarantee $5 trillion worth of mortgages.

written by direpickle | 1 month 1 week ago | CH

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