Thursday, April 14, 2011

Easy to borrow, hard to repay

Debt projectiles

Debt projectiles © fintag

News comments:
I am fixated by the Obama debt reduction rhetoric.

Looking at the simple facts, America has lots of old and obese people. It has a large number who are very poor and some world leading companies that provide jobs for millions but which are moving to Asia and Europe to avoid tax and red tape. The President has imposed huge future liabilities on its people in the form of healthcare and is seeking another 4 years in office so he can retire and have a good life with his family.

But look at the chart. Another chart and another actual and forecast debt reduction. It makes you want to cry. Is this achievable? Well the only way it can be achieved is if most of the American population (old and uneconomic of course) is wiped out by Japanese radiation.

Does anyone have the ability to talk to Richard Nixon to see if he has any ideas?

Today's shorts:
Bankers to follow the route of the super injunction (telegraph)

3D porn debut (reuters)

Today's longs:
Obama is Nixon and Carter (OregonLive)

BP. Something fishy (bbc)

US Banks to switch debits into credits overnight to vanquish debt.