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Monthly Archives: July 2011

Top 10 Facts About America’s Financial Condition

Recently we had a post on Poverty in America and how many people at or below the poverty line had XBoxes, air conditioning and other luxuries no generation b4 them had.

Here are some stats that will make you think twice about what it means to be struggling financially.

For the record our poor citizens are still wealthy compare to that of the really poor in say third world countries, but when have we really been concerned with that comparison ?

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Is Gold the Answer to Our Problems ?

It has been suggested many a time that we need to go back to a gold standard. Of course this would create more confidence in our currency, but some are saying it would force us to balance our budget.

An odd offshoot to this story is that Lehman Bros. was speaking and proposing this idea b4 the debacle. It seems this may have had some influence, at least in my mind, on not bailing out Lehman.

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China and Iran Leave the Table With an Oil Barter

China was barred by the U.S. from giving U.S. dollars for oil to Iran. This is a way around this. The bigger implications behind this story are that we may be seeing the beginning of oil being sold for something other than dollars. The more this progresses the more the dollar becomes vulnerable to not being used in the purchase of oil.

That may mean more dollars in circulation than needed; not good for a fiat currency in a world where only dollars are used to purchase oil.

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FLASH: NO DEAL

Rep Boehner will tell house members there is no framework or a deal at 4:30pm press conference.

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