Tag: Debt
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Who’s driving this bus?
Memphis budget back and forth raises questions about long-term plans, vision for the City among other things If you’re not confused you’re not paying attention. To be honest, I’ve been on vacation for a week, and doing everything I can to not pay attention, but the events of yesterday’s Memphis City Council meeting snapped me…
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Our Structural Deficiencies
So I know I’m a day late and a dollar short on the news of the credit downgrade by S&P. Quite honestly, I wanted to see the reaction before I tried to write anything about it. Initial reaction dealt mostly with the $2t error by S&P, something that should make the company blush a bit.…
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Assisted Stupidity
So I guess something was passed yesterday that’s supposed to have brought us back from the brink of the disaster that would have been a credit downgrade. If you don’t think a credit downgrade would have been bad, look at your creditcard statement, down there by the interest rate, and add 10 points to whatever…
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Paying the Bills
I’ve been self-employed for more than half of my life. At age 15, I was one of the only delivery carriers in North Little Rock for the now defunct Arkansas Gazette, that consistently delivered my 450 paper routes on time, and stayed in good standing (not in debt) with the paper. At age 23 I…
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We Do it to Ourselves
Last week, I wrote here about a report in the UK Telegraph. In the report, two Chinese Party members threatened the “nuclear option” with our currency. This move would effectively dump billions of US currency and bonds on the market, devaluing our currency beyond the historically low levels that it currently resides. China may be…
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This is what happens when your credit runs out…
China, the country, not the wrestler, or the porn star, has us by the short hairs. See, they hold some $900b dollars in US debt, and enough hard currency to devalue our money to the level of the peso. That is, if they wanted to. Well, if we don’t stop threatening their way of life…”selling…