Have you seen the latest GM commercial? It’s a minute of liberal emotionalism, underscored with heart-tugging music, and is based on zero economic reality. Give it a view before moving on to my analysis of the GM IPO.
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If your home caught fire while you were asleep would you really care who yelled to wake you up and save your family’s life? Would his/her race, age or religion matter? Of course not.
Well America, our financial house is on fire and the only person out there screaming to wake us up is Glenn Beck. To my liberal friends and to my moderate friends that have heard negative things about Glenn Beck: I don’t care what you think of him, you need to listen to the message he is delivering. Ignore that it’s Glenn. Ignore the fact that it’s Fox News. Ignore the pink shirt. Listen to the message.
The first video is actually the fourth segment from this particular show (aired on Nov 17), but I think it is a good starting point for those of you that have never watched Beck, or for those that perhaps watched his early shows on HNN. All I ask is that you watch the first clip below. If it piques your curiosity or captures your attention, please watch the remaining clips. They include compelling data that should shock you into reality about America’s financial sitation.
Hopefully the video above opened your eyes. Now for some details:
Can anyone tell me where Glenn or his guests are wrong? Can you then explain why nobody else is yelling fire?
BEIJING, June 1 (Reuters) – U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency. A major goal of Geithner’s maiden visit to China as Treasury chief is to allay concerns that Washington’s bulging budget deficit and ultra-loose monetary policy will fan inflation, undermining both the dollar and U.S. bonds.
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China’s total U.S. dollar-denominated investments could be twice as high. “Chinese assets are very safe,” Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.
We are oh so screwed with these IDIOTS in charge. I swear I hear circus music in the background. Maybe this is all a dream. Maybe I did ten too many Irish Car Bombs last night and this is all a painfully realistic nightmare and I will wake up tomorrow soaked in my own urine. This can’t really be happening to America, can it?
