Leave a Comment

Good to Know
Vodkapundit — Charlie Martin argues that those “US is bankrupt numbers” are totally wrong : I wrote about the same comparison in PJM early in the year — can’t link it usefully, PJM has hosed something — making the correct comparison of total US assets per person versus total US obligations per person, and it was about $300K assets vs $160K obligations, or over the whole population, about $90 trillion versus $48 trillion. Most of that wealth is real stuff — land, houses, factories, etc — and hasn’t gone away in the last year. The point is, we’re not bankrupt — we’re more like a homeowner with ...

WELL, THAT’S A RELIEF: Charles Martin says the United States isn’t bankrupt….
Instapundit — WELL, THAT’S A RELIEF: Charles Martin says the United States isn’t bankrupt.

WIN - Whip Inflation Now? Nope.
Daily Pundit — US Bankrupt? | Explorations Then, note that a lot of the actual bailout is being done with *new* money, instead of debt, and the comparison gets even more silly. But the monetary model for inflation says that when you’re deflating, money supply is too small — and we’re deflating at about an annualized 18 percent per year, there’s room for new money. People who read me know I’ve been worried about deflation for a long time - in fact, my deflation worries long predate Daily Pundit itself. I’m more concerned about ...