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Fannie and Freddie Debt Among Government's Liabilities

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So much is now explicitly backed by the federal government.

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In the spirit of Todd Harrison. Some questions:

  • How does a broken political system find the right solutions to the toughest choices this nation has faced in as long as I've been alive?

  • Did the Fed's emergency discount rate cut seem like anything more than a fancy way of jawboning?

  • If fractional reserve banking requires constant growth, what happens when credit continues to contract indefinitely?

  • Is it not true that imitation is a form of flattery?

  • If the Chinese knocked down, and rebuilt, the Bridge of Strength -- a bridge that was one of the few structures to survive an earthquake -- why are so many investors so confident that Chinese stimulus was anything more than an unemployment claim? Except that you had to physically labor, instead of merely file, for it!

  • Considering the last question, though unproductive for a nation, it's a pretty good way of weeding out those who need and those who abuse welfare, isn't it?

  • Is it me, or has there been a legendary, great band formed in the last 15 years?

  • If markets are bigger than us, and are always trying to fool us, then who is the fool?

  • Is it morally wrong to intentionally walk away from an affordable mortgage because your home equity is well below the home's value? Technically, you're giving the bank back its collateral. But I don't know. Does intention factor into the entire notion of lending?

  • Why would I feel bad for a bank that had loose underwriting standards and waived the obvious necessity to have homeowners have an initial equity stake in an asset?

  • Chicken, Fish, Steak, Lamb, Beans, is there anything else?

  • Why does Obama hate natural gas?

  • How long is too long? I can answer this one…I'll end here.
There's the average day of John Cassimatis. I try to add things up and for a while I was getting the empty set -- you remember Junior High math? And now I'm getting problem, problem, problem. When will the piper strike? I guess when the world runs out of money. We'll start small with Greece and Dubai, and we'll see how things go. This is the bull case for gold. And it's not changing anytime soon.
Position in gold.
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