CNBC: USA is bankrupt

[power]

Quote from TradinMadMan:

where are u guys getting the $65 trillion from?

The $65 Trillion report appeared on a website but could not find the link.

 

[4444CJones4444]

Quote from daveb351:

This was spooky:

Friday 7am I'm driving to the vet. on a major street in Phoenix(Indian Sch. Rd)...only 2 to 3 cars at each light. Same trip 6 months ago, same time, took 3 to 4 light changes to get through the intersections.

IMHO unemployment is way larger than they're admitting.

I noticed extremely light rush hour traffic on the San Tan part of the 202 yesterday (Friday). I assume it's a combination of less workers, more workers going home early on a Friday and low consumer traffic. It's normally packed on that stretch of the 202.

 

[power]

Quote from 4444CJones4444:

I noticed extremely light rush hour traffic on the San Tan part of the 202 yesterday (Friday). I assume it's a combination of less workers, more workers going home early on a Friday and low consumer traffic. It's normally packed on that stretch of the 202.

World weather is getting colder and icy which means the whole world is bankrupt.

World bankrupcy is good for Global temperatures. Global financial crisis has solved the problem of "global warming".

 

[fframe38]

Quote from ByLoSellHi:

Traffic on the formerly most congested roads is much, much lighter here, too.

I was just discussing this with a bunch of people this week.

It's not just anecdotal, and it's a massive change, and I hear the same thing from a relative in Miami and a friend in Vegas.

I am not sure I would believe it just yet. A lot of places were on Spring Break recently including last week and the traffic patterns are altered significantly as more people to go on trips, work from home, etc more than in a normal week.

On the other hand, I recently went to one of the biggest malls in Dallas about 2 weeks ago during the week at around dinnertime and it was like a ghost town - even the Food Court was basically empty.

 

[Sniemiec]

Quote from power:

The $65 Trillion report appeared on a website but could not find the link.

http://www.opinionfest.com/category/david-m-walker/

 

[Rabbitone]

Quote from ByLoSellHi:

You should watch I.O.U.S.A.

Or listen to the warnings David M. Walker, former Comptroller General of the United States, has given everyone repeatedly. The real national debt of the U.S. is 56 trillion dollars.

Many here come down on me because I am realistic, when they claim I'm pessimistic.

The Federal Reserve can't prop up an economy that has shed and is shedding the kinds and numbers of jobs we are in this nation. I don't care how much they 'expand their balance sheet.'

What are they going to do? Have half the population work for the Federal Government? Or state and local units of government?


How will commerce be sustained and real wealth be created?

We are on the exact same page. These are questions I have asked for years.

 

[vrtrop22]

Let me beat someone to the punch. The global recession is purely Obama's fault.

 

[RussellDaytrade]

Quote from vrtrop22:

Let me beat someone to the punch. The global recession is purely Obama's fault.

You are likely being facetious in that quote, but that is like blaming the fire department dispatched out to control and extinquish a blaze for starting it in the first place.

Nice try.

 

[elwalvador]

Quote from daveb351:

This was spooky:

Friday 7am I'm driving to the vet. on a major street in Phoenix(Indian Sch. Rd)...only 2 to 3 cars at each light. Same trip 6 months ago, same time, took 3 to 4 light changes to get through the intersections.

IMHO unemployment is way larger than they're admitting.

Last semester I used to drive through the city to get to school because the highways were all jammed up in the morning rush hour. Now, I take the highway because the volume of traffic in what should be morning rush hour is equivalent to the traffic of a Sunday afternoon. Plus my local mall just got a bailout from Gov. Rendell and the other mall close by is a literal ghost town, 4 or 5 stores have gone out of business.

 

[NanoTick]

Quote from elwalvador:

Last semester I used to drive through the city to get to school because the highways were all jammed up in the morning rush hour. Now, I take the highway because the volume of traffic in what should be morning rush hour is equivalent to the traffic of a Sunday afternoon. Plus my local mall just got a bailout from Gov. Rendell and the other mall close by is a literal ghost town, 4 or 5 stores have gone out of business.

This guy in the video is an idiot. He apparently does not know the difference between assets and revenue. Debt vs. GDP determines bankrutcy? what a moron!