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Posts Tagged ‘are we broke?’

Mary Meeker Audits USA, Inc. Recommended

Posted by Larry Doyle on August 9th, 2011 9:39 AM |

In the course of a conversation yesterday with one of the wisest men I know, I remarked that the issues our nation faces are not political but rather mathematical.

The debate in Washington that put a choke hold on our nation, our economy, and our markets took partisan bickering to an entirely new level and focused on the politics.

In the true spirit of ‘sense on cents’ let’s focus on the numbers and reduce our issues and our problems into simple math. In the process, I hope we are all more educated as to the depths of our problems so we can then begin to address them.

I thank a dear friend who brought a recent fabulous presentation by Kleiner Perkins’ Mary Meeker to my attention.  (more…)

Laurence Kotlikoff: “The U.S. Is Bankrupt”

Posted by Larry Doyle on August 12th, 2010 1:20 PM |

Nobody likes being told they are broke. While the truth may hurt, when you’re broke, you’re broke. Are we as a nation broke? Laurence Kotlikoff believes we are and expresses as much today in a Bloomberg commentary, U.S. Is Bankrupt and We Don’t Even Know It,

Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

What it can and must do is radically simplify its tax, health-care, retirement and financial systems, each of which is a complete mess. But this is the good news. It means they can each be redesigned to achieve their legitimate purposes at much lower cost and, in the process, revitalize the economy.

Last month, the International Monetary Fund released its annual review of U.S. economic policy. Its summary contained these bland words about U.S. fiscal policy: “Directors welcomed the authorities’ commitment to fiscal stabilization, but noted that a larger than budgeted adjustment would be required to stabilize debt-to-GDP.”

But delve deeper, and you will find that the IMF has effectively pronounced the U.S. bankrupt. (more…)






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