Friday, September 12, 2008

Friday Meditation for 12 September 2008

Think about this quote, then pay attention to what McCain/Palin and Obama/Biden are spending all their time debating as the important issues of the day:

"...[The deprivatization of Fannie Mae and Freddie Mac] is the biggest bailout ever. If 10% of the $5 trillion of guarantees must be made good by the government, the payments would be $500 billion. That is the size of the annual U.S. defense budget. The outstanding debt of the U.S. held by the public is the size of the guaranteed mortgages. It is huge..." - Doug Casey, Guest Commentary at Prudent Bear

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