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DOW plunges as 2d debt storm hits
Once again we're vindicated by saying we told you so. This is what Jon Boy and I said would happen with the bailout as debt continues to grow. OBY has accrued $2T debt in just 421 days of office. It took W 4 yrs to hit that with all that spending in Iraq. Now it is about to bite him in the ass big time.
The Greek disaster is causing kaos all over Europe and the EUs bank gave them a bailout. Germans are pissed because most of the money came from them and France is threatening to drop the euro as it continues to fall.
On top of that, OBY wants to give Greece $1T to add more debt for us and US taxpayers are as pissed as the Germans and
keep in mind that the EU is trying to destroy us as the Euro passed the dollar during W's last year and now they
want us to bail out the Euro and OBY wants to do it.
http://voices.washingtonpost.com/rig..._legislat.html
The Bank of England says the US is almost as bad as Greece and if nothing is done to stop this debt rising here, there will be an even bigger disaster than the 08 Crash.
http://blogs.telegraph.co.uk/finance...nk-of-england/
Meanwhile the DOW is exactly where it was 10 years ago.
http://www.google.com/finance?chdnp=...JX:.DJI&ntsp=0
I asked my broker who is an OBY fan why can't he max out his credit cards knowing it will destroy him but it's OK for his
country to do so. He said because they have a bigger GNP than me. I said uh hum and was about to fire him when he
finally agreed that the debt would hurt the country but it would take 7 or 8 years. Looks like it's gonna to be more like
7 or 8 weeks according to this.
We told you so and even Warrn Buffett said the PPT (govt) won't be able to stop the next disaster when the
bailout money hits the street. We're already seeing inflation and an increase in interest rates. I'm paying $2 more
for batteries, $5 more for my OUtback steak special and $1 pr gal more for gas not to mention groceries
in the last 421 days, when as Pissy Reid would say - you know who rode into town.
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Some investors and analysts are increasingly concerned that governments may be no more capable of repaying their debts than the banks and insurance companies they saved. And, they warn, if a major country comes close to default, it could trigger a financial meltdown that would eclipse the panic that followed the bankruptcy of Lehman Brothers in 2008.
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Oh, and BTW, Hal Lindsey wrote 35 years ago that the debt would destroy the US and make it a non-power in the end days.
Get his book - LATE GREAT PLANET EARTH.
http://www.marketwatch.com/story/the...ons-2010-05-14Last edited by AirFlacco; 05-15-2010 at 01:17 AM.
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Re: DOW plunges as 2d debt storm hits
Greece is just the appetizer.
This guy says the same thing as England. It won't take us long to
follow Greece w/o spending cuts and OBY wants to spend even
more.
Getting scary folks. Get out your 3Ds.
http://hotair.com/archives/2010/05/1...the-appetizer/
Gethner just said the US has "big stake" in helping Europe but thinks they can managed
themselves without fallout for US.
http://www.breitbart.tv/geithner-see...llout-for-u-s/
STOP POINTING THE FINGERS. PRESIDENT OBAMA. LOLLast edited by AirFlacco; 05-15-2010 at 04:58 PM.
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