Turning the Queen Mary

I stand by everything I've written over the last 2 years. In fact, the reason I don't have more recent posts is because the situation hasn't changed. Titanic. Iceberg. Full speed ahead.

The whole world -- not just U.S. Americans -- has decided the best way to solve intractable debt and glutted supply is by promoting demand among over-saturated consumers via massive new borrowing and investment in infrastructure that fosters more supply.

Even Germany now seems to recognize it is over-leveraged. Still waiting for that apology, Klaus.

http://philbony.blogspot.com/2008/10/pullin-on-sweater.html

http://philbony.blogspot.com/2009/02/he-hate-me.html

http://philbony.blogspot.com/2009/03/pretty-vacant.html

http://philbony.blogspot.com/2009/06/and-now-for-something-completely.html

http://philbony.blogspot.com/2009/10/ambrosian-economics.html

Bonus coverage on Terrorism (prophesy at it's best, people) and the Environment (jury's still out, but I stand firm).

Fine

Oh, so NOW you come out to play.

Still with a T

$44,000 per citizen. That's what you owe.

Figures on government spending & debt below (last six digits are eliminated). The
government's fiscal year runs Oct. 1 through Sept. 30.

Total public debt subject to limit Aug. 19      13,310,379
Statutory debt limit         14,294,000

Total public debt outstanding Aug. 19       13,363,228
Operating balance Aug. 19    230,177

Net interest fiscal year 2010 thru July   185,248
Net interest same period 2009    167,706

Deficit fiscal year 2010 thru July        1,169,071
Deficit same period 2009         1,266,963

Receipts fiscal year 2010 thru July        1,752,541
Receipts same period 2009         1,739,949

Outlays fiscal year 2010 thru July        2,921,612
Outlays same period 2009         3,006,912

Gold assets in August      11,041

That's Life

For those about to die, we salute you.

Misery and Gin

Memories and drinks don't mix too well

And jukebox records don't play those wedding bells

Looking at the world through the bottom of a glass

All I see is a man who's fadin' fast

- Merle

No Way Out - The Sequel

So here's the answer to my post below.

http://blogs.telegraph.co.uk/finance/ianmcowie/100006707/how-safe-is-the-cash-in-your-wallet/

So what do you know? There are ways of tracking which country issued a Euro note.

And what else do you know? Currency speculators like George Soros are already shunning Euros issued by Malta, Portugal, Italy, Spain, Greece and Ireland in favor of those from Germany & Belgium.

I guess some Euros are created more equal than others.