Forbes: Don't Get Caught Holding Dollars When The U.S. Default Arrives

[OmahaBlueDog]

Greece’s debt-to-GDP ratio is 143%. America’s is officially 97%. But the $14.3 trillion national debt, stacked up against a $14.7 trillion economy, doesn’t tell the whole story. Look at these numbers:

• $14.3 trillion: “official” national debt

• $5 trillion: Amount Uncle Sam is on the hook for Fannie Mae and Freddie Mac

• $62 trillion: Total liabilities and unfunded obligations for Social Security and Medicare

That doesn’t count the black box of bailouts.

Read more at: http://news.yahoo.com/dont-caught-holding-dollars-u-default-arrives-191153227.html

[izquierdista]

1. I have to unrec this

Forbes is the source of almost as much made up bullshit as FOX.

[OmahaBlueDog]

11. I am completely unconcerened with the rec/unrec nonsense

Everyone should judge for themselves based on their level of interest.

[ixion]

2. Nor does it count toxic derivatives

of which there are many trillions waiting in the wings.

[Emelina]

8. What psychopath came up with this way to make money?

http://www.youtube.com/watch?v=_MZCHjGkTPg&feature=related

I doubt most people understand derivatives, but they will hear a lot more about them in the future -- oh, unless they actually listen to ABC, CBS, NBC, CNN and Fox.

[cottonseed]

3. That means buy dollars.

[Ruby the Liberal]

5. Yep. When Forbes is signaling something to the proles, do the opposite

Only means the big boys have already made their move and need us to counter to cover their bets.

[MiniMe]

4. Any time they call SS & Medicare "unfunded liabilities and obligations"

I know it is a right wing talking point. The only reason the money for that isn't in the bank right now is because congress has been borrowing from it. Makes you appreciate Al Gore's lockbox

[calimary]

6. True that. WHY is this even being considered as an option? WHY is it on the table

when canceling even just ONE military campaign is untouchable? What part of "promote the general welfare" is incomprehensible and somehow wrong?

[PSPS]

10. That's right. This is a Forbes "pump 'n dump" piece.

The entire piece is chock full of right wing talking points.

[enlightenment]

7. Well, I'm in good shape then -

I don't make enough dollars to hold onto any of them these days.

[gateley]

9. Have to rec so others can see the comments which may be

helpful to some.

They were to me! Just wish I had some dollars to worry about!

[chalky]

12. That's exactly why I hit the rec button.

The comments are worthy of recommendation.