The Cantankerous One has some Money Questions

The U.S. Congressional Budget Office estimates the wars in Iraq and Afghanistan could cost $2.4 trillion over the next decade. Now hold on ... didn't realize that the U.S. was planning to fight these two small countries for another 10 years!!!! How long was WW2 anyway?

When President Bush took office January 2001 the U.S. national debt was $5.7 trillion. When he leaves office in January 2009 the debt is estimated to top $10 Trillion Dollars. Double the debt in 8 years ... good job!

The U.S. dollar is down about 35% in value since the end of 2001 against a basket of major currencies. I guess its time to dump the green-back, hurry-up the North American union with Canada and Mexico and start printing the new "Amero" currency!

According to the U.S. Treasury, foreign governments and investors now hold some $2.23 Trillion - or about 44% of all publicly held U.S. debt. That's up 9.5% from a year earlier .... folks, isn't anybody getting just a little worried that foreign governments are increasingly owning your butts?

The U.S. is borrowing Hundreds-of-Billions of dollars from China (the same guys you're outsourcing your jobs to and receiving in return lead-encrusted products) and OPEC (your friendly oil producing countries - some of which harbor terrorists - the ones that you're fighting the war on terror with). Same question ..... isn't anybody worried that countries that hold your debt will control your future? Or are we still focused on whether the Patriots will go undefeated this season?

The Democratic lead Congress just raised the government's debt ceiling from $8.7 trillion to $9.8 trillion so the government can borrow more money to keep it operating and to pay additional debt obligations. It is the 5th debt-ceiling increase since Bush became President ... oh my! I guess it's like MasterCard raising your credit card limit 5 times in 7 years.

And finally, 189 major mortgage companies have bit the dust. Third quarter house prices are off 4.9% year-over-year. The structured credit products market has collapsed. The Fed has been increasing money and credit for the past 4 years at over 10% annually. They are flooding the market with aggregates. Wall Street, banks and hedge funds are dangerously extended and have serious balance sheet problems. Falling interest rates and the injection of massive amounts of money and credit is steering the economy towards deep recession, depression and the very real possibility of the collapse of the entire financial system, which in turn will cause a global crisis. When that happens .... can anybody say ..... One World Government .... its a possibility .... I urge you to think about it!