[Blogger]

More interesting news in light of this: http://www.liveleak.com/view?i=46d_1205873088 from March/April. Click on the "more" at the Liveleak article.

Would have (and did) dismiss this as tinfoil fantasy several months ago. Now, it gives one pause.

[IbJensen]

Not to worry. We have a Democrat Congress and a bozo to head up the charge against America.

[raybbr]

I can’t wait for the super-capitalism brigade to show up and tell us how we got those Chinese fooled into taking on our debt.

[Churchillspirit]

Does anybody have any money???

[WackySam]

It’s even worse than this report states. When unfunded entitlements are included, the real debt is over 56 Trillion (187,000 per person), which is more than the total net worth of all US Citizens.

The real debt has increased by almost 20 Trillion since Bush entered office. 5 Trillion to the reported national debt through deficit spending, and 11 Trillion by the Medicare Part D program that he signed into law. The other 5 Trillion came through the growth of the remaining entitlement programs for which there is no funding.

Before the latest economic crisis this debt was increasing by 2-3 Trillion per year. Who knows how fast it will grow now.

[AmericanGirlRising]

Interested in your take on:

http://www.youtube.com/watch?v=wZWJ-qxel3A&feature=related
Jim Rogers selling his dollars. He’s buying gold and Asian currencies and funds.

http://www.youtube.com/watch?v=gapZx0bJiRU&feature=related
Peter Schiff (Ron Paul’s economic guy) is dumping dollars too.

See this FR thread about your posted video: http://www.freerepublic.com/focus/f-news/2130877/posts?q=1&;page=1

[BP2]

Both economies are teetering. If China were to pull their assets from American banks, it could cause a sudden collapse, like a run on the bank.

I bet if the threat was there, the US would seize Chinese assets similar to how the UK did to Iceland back in October (if the US hasn't issued the threat already):

U.K. Uses Anti-Terror Laws to Put Iceland's Assets on Ice

The word “terrorism” is a politically charged term, to put it mildly.  Declaring a “War on Terrorism” means, of course, deciding who is a “terrorist.”  And, according to the British government, the latest terrorist in its sights is Iceland. 

Yes, Iceland....

[quesney]

I notice the source has an italian domain name (it). Italy’s in even worse shape. Both its population and GDP are shrinking, it finances and its politics are a mess — totally unsustainable.

[Askwhy5times]

As hard is it is to believe, the US may have to default on it's debt. Public debt has grown by more than 100% with all the bailouts. We currently have a debt level 3 times what the European Union allows it's members. We are financially in far worse debt as a percent of GDP than Italy. Unfortunately, our Social Security Trust Fund is financed almost entirely by special bonds. Our government loaned themselves the money in the Trust Fund and spent it like drunken sailors at a strip club. We are left holding what may be worthless pieces of paper to guarantee our Social Security checks. The United States of America is approaching bankruptcy

[The Duke]

I will gladly pay you Wednesday...

For a Hamburger Today!

When I was a kid Wimpy wasn't considered to be the paragon of virtue that he apparently is today.

[DaGman]

This thing is far from over. We can only hope that the “bailout” works. Personally, I think the bailout was nothing more than a few fingers in the crumbling dike. The powers that be know a helluva lot more about this crisis than they’re letting on. I don’t think they really want us to know just how bad it really is.