Wednesday, February 11, 2009

Federal Reserve of Dallas: Economic Storm on the Way

More good news: the President and CEO of the Federal Reserve of Dallas in a speech last May puts the following into perspective:
  • Every 15 months, the USA owes another trillion dollars against Gov expenses.
  • Money Supply has increased 70% since October.
  • Every American owes: $586K for FED debt.
  • "Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon" (Fisher).
It will get worse before it gets worse.

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