White House: Budget deficit to top $1.8 trillion
•about four times the record set just last year
•the government borrowing almost 50 cents for every dollar it spends this year
•The country is becoming insolvent.
a)The government is borrowing money we have no means of paying back,
b)Destroying the dollar by creating money out of thin air
c)Raising taxes when business is plummeting and
d)Spending more money than ever when tax revenues are dropping
•Something has to give. If you think a central bank can recklessly print currency thats backed by nothing without consequence, please research the Weimar Republic or Zimbabwe.
http://finance.yahoo.com/news/White-House-Budget-deficit-to-apf-15199183.html?.v=8
Fed cut banks’ deficits after negotiations
•The Federal Reserve reduced the size of capital deficits facing several banks before releasing the results of “stress tests” on the financial institutions, according to a story in the Wall Street Journal
•U.S. regulators told top banks on Thursday to raise $74.6 billion to build a capital cushion officials hope will restore faith in financial firms
http://www.reuters.com/article/businessNews/idUSTRE5481F520090509?feedType=RSS&feedName=businessNews&rpc=23&sp=true
GM Says Its More Probable It Will File Bankruptcy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVI_k9kuPf0w&refer=home
Charging rent to homeless
http://amfix.blogs.cnn.com/2009/05/11/charging-rent-to-homeless/
Duration : 0:5:45
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