Cheery Holiday Financial Update
While you're not really working and getting ready for the Jesus' Special Day, people who Hate Our Freedoms (TM) around the world are plotting against Washington. And it's working. Expect a Great Depression by Super Bowl Sunday:
* China might be about to dump a trillion or so U.S. dollars, because China owns the United States and doesn't want us anymore.
* The U.S. trade deficit just hit another record high, $225.6 billion, the Commerce Department reported today.
* Iran officially dumped the dollar today, switching assets and oil transactions to Euros. (Iraq did that in 2000, but Washington fixed the problem by invading and switching oil transactions back to dollars.)
* If the government had to follow the same accounting rules as U.S. corporations, the true Federal Deficit would currently be $449.5 billion, not $247.7 billion -- according to the U.S. Treasury.
* The collapse of America's housing market is grinding U.S. economic growth to a halt, but it's cool because there are now people with plenty of money in Asia and Europe, and they'll buy all the crap from China that we can no longer afford.