Anti Oligarch's Blog – August 2009 Archive (3)

As Budget Deficit Grows, So Do Doubts on Dollar

Please remember, when they're talking about 10% - 12% deficit on Gross Domestic Product, they don't tell us that the biggest part of GDP is consumer spending, which can vanish overnight, making the deficit something like 80 - 90% on GDP.

That's why we've been hearing about Weimar republic, there's one very important difference, I'm sorry to say, that this time the concentration camps are set up on our side of the pond.

--AO




LONDON -- The U.S. economy may be showing… Continue

Added by Anti Oligarch on August 26, 2009 at 7:32pm — No Comments

America: Days Away From Economic Chaos?

America is just a few days away from a possible day of reckoning. I again call attention to this day, August 25, when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks.

A plethora of bank failures has depleted the FDIC reserve fund from $52.8 billion in 2008 to $13 billion in the 1st Quarter of 2009. (See chart below)



Image



Alison Vekshin, writing for Bloomberg, indicates.

"The failure… Continue

Added by Anti Oligarch on August 24, 2009 at 1:00pm — 2 Comments

A parable of sorts

Dolly the cloned Sheep



The year is 1823. Nathaniel Burrell, sheep farmer, has stumbled upon a method for duplicating sheep. To cut a long story short, after years of essentially random cross-breeding he now can produce new sheep on demand at no cost. A quick twist of the tail of one of his miraculous cross-bred sheep and you’ve got a brand new one, just the like the old… Continue

Added by Anti Oligarch on August 23, 2009 at 10:14am — 1 Comment

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