Tuesday, March 1, 2011

Richard Russell - Dead Nation Walking

The cover of the magazine reads, "Would You Invest In a Company that lost $2 trillion last year, and has a net worth of a negative $44 trillion?"

And what is this company? Why, it's USA Inc. The article is written by the well-known stock analyst, Mary Meeker. She writes about the US's finances as though the US was a corporation.

Mary writes, "Imagine no Army, Navy, Air Force, Marine Corp or Coast Guard, no federal courts or prisons, no national park service, no food and drug administration, no embassies, no salaries for Congress. That's what it would take to finance the budget by 2025 and still pay interest on America's debts, without either raising revenues or reducing entitlement growth. That's certainly not a recognizable America."
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