[rovenstinez]

Is a trillion dollars, a million, million dollars?

[HowlinglyMind-BendingAbsurdity]

"In the current economic-policy debate, the ideas of John Maynard Keynes are resurgent. Here are some of the results: Federal deficit spending soon will reach, and far exceed, previous peacetime peaks. Current projections indicate the budget deficit may surpass $1.1 trillion (that’s trillion with a “T,” one thousand billion) in fiscal 2009. Deepened by emerging stimulus expenses, the deficit may top $1.4 trillion, or about 10 percent of gross domestic product. "

"But...but, he studied at Harvard..."

[Alberta's Child]

Interesting article, and many interesting points.

I absolutely disagree with this one, though . . .

At that point, concerned about inflation and heedless of the huge concurrent appreciation in home prices — many financed through adjustable-rate mortgages — the Fed raised the funds rate to 5.25 percent between 2004 and June 2006. This will be remembered as one of the most destructive policies the Federal Reserve Board ever pursued.

A Federal funds rate of 5.25% should have been perfectly reasonable at the time -- especially when you consider that it had been raised to that level over a period of two years from a historic low point.

There is a lot more to the story of the U.S. economy than meets the eye. I have my own theories, but the fact that the economy began to unravel with the first signs of collapse in the summer of 2007 is no coincidence.

[Nathan Zachary]

1.4 trillion is just this years deficit spending, which gets added to the National debt.

Now, Our National debt is about 20 TRILLION dollars. (conservative) If 1.4 is 10% of GNP, 20 Trillion close to 150% of GNP!!!

How the heck do we repay that? We can't even pay the interest on that!

Buy a wheel barrow while a few dollars still buys one, you are going to need it.

Paint "My wallet" on the side. Collect all the copper pennies you can. They will be worth something at least.

[Nathan Zachary]

US quarters are 91% copper as well.

[ottersnot]

According to Jonah Goldberg in Liberal Facism, Keynes was a reprehensible dude.

He was the chairman of the British Eugenics Society in the forties, right about the time Adolf was gaining notoriety for his Eugenics beliefs.

Doesn’t matter a lick to liberals.