Tuesday, 7 February 2012

Slow learners?...............from Rico

Slow learners, or just stupid?

American consumers charged $2.5 trillion on their credit cards in 2011, apparently having either 'forgotten' the lessons of 2008 or 'believing' the the 'recovery' drivel being spewed by the MSM and the current crop of politicos...despite employment having very obviously NOT recovered at all.

Banks aren't any better than the consumer. The US banking system is leveraged 13:1, the Japanese system 23:1, the French system 26:1, and the German system 32:1. Remember Lehman? It was leverage that finished them off in 2008.

The US Government? They're the worst of the lot. During the current regime, $150 million was stolen from American children and grandchildren
every single hour in fiscal 2011.

If a small 'burp' in the debt bubble in 2008 caused such havoc, look at debt levels NOW and try to guess what will happen the next time the debt bubble instead of merely 'burping' in an attempt to keep from going blind closes one eye and 'farts?'



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