Sunday, 29 August 2010

Basic accounting for......from Rico

Here is some basic accounting for Congress, the Financial Media, and all Obamunistas.

ALE

Assets (cash reserves) minus Liabilities (foreign debt) equals Equity (net worth), or A-L=E for short, simple, and easy to remember.

Now let's use ALE to compare China and the US.

China has cash reserves of $5 trillion, foreign debt of $374 billion, leaving a positive net worth of $4.6 trillion.

The US has cash reserves of $490 billion, foreign debts of $2.1 trillion, leaving a negative net worth of <$1.6 trillion>

I do not think the 40# brains that put us into this hole are smart enough to get us out of it.

Time for a different kind of "ale" I think...hmmmmm, Bass or Guinness?

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