Feb 1, 2013 at 4:05 PM
Chris Whalen & Barry Ritholtz: 'The Derivatives Timebomb'
Great discussion. Global derivatives are 5 times global GDP.
Here's a fun fact: According to the Office of the Comptroller of the Currency’s fourth quarter report for 2011, approximately 95% of the $230 trillion in total U.S. derivative exposure was held by just four financial institutions: JP Morgan Chase, Bank of America, Citibank, and Goldman Sachs.
U.S. Govt Borrows $6 Billion Per Day, $4 Million Per Minute
This year the national debt will fly through $17 trillion, get a peek at $18 trillion, make a 2015 date with $20 trillion, while Paul Krugman leads Keynesian dance class aboard the U.S.S. Bankruptcy.
The National Debt: A Short History Of Presidential Lies
Presidents love to lie about cutting spending.
New video produced by the non-partisan Bankrupting America on Washington’s history of inaction on cutting spending
Talk Is Cheap, Overspending Is Not
In 1986 our debt was $2.1 trillion and Washington was making promises to rein in our excessive spending. Twenty-seven years later Washington is still making promises, but the only differences we see are a $16.5 trillion debt and better picture quality on C-SPAN.