Episode-427- The Economic Shell Game Continues — 5 Comments

  1. I want one of those shats as soon as they come in.. 🙂

    It drives me nuts to hear Obama talk about fiscal responsibility.. and be certain that the more they talk about how to dig out of this hole, the more vigilant I become with my preparations. Is it lack of faith that our government will make a U-Turn and correct course? You bet it is.

    Thanks for the show..

  2. Jack,

    Killer show! Everyone in this country should listen to this show! You are better than Glen Beck or Rush by a wide margin.

  3. So, would it be analogous to describe what GM did to somebody deep in CC debt consolidating high-interest debt to a newer, lower-interest debt obligation (on the taxpayer dime, of course)? Also, I remember seeing an article somewhere about the FTC considering taking action due to the deceptive nature of the ad – any other details about that?

    Good show.

  4. On interest rate swaps – they are much like mortgages as they are financial contracts for pricing risk (interest rate risk in particular).

    Anyone that was involved in one should have understood the implications of that contract before it was entered in to and has no right to complain after the fact because the prevailing rates did not act in accordance to what they thought might happen.

    The SEIU asking for changes in the law to allow states and municipalities to renege on that contract is the equivalent of someone who can afford mortgage payments deciding to default on their mortgage for the sole reason that the value of that secured property went down.