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Duration: 10:24 minutes Upload Time: 2008-01-19 03:15:03 User: johnnyLiberty1776 :::: Favorites :::: Top Videos of Day |
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Description: Joe closes out this week in front of a three-day weekend (MLK Day is Monday, Jan 21st) as our government is planning some sort of stimulus package to boost the economy which may be in the form of a check to taxpayers of anywhere from $300. - $600. - it's all part of the 'plan' to lift us out of the 'recession' that we're not really in. Turns out that the annual review of the 'books' by the GAO, once again for the 11th year in a row, cannot report an opinion as to the credibility of the bookkeeping involving and therefore cannot verify $895. bil (57%) of US reported assets, and can't find some $740 bil (25%) in expenditures which were either disclaimed or not audited at all. And so, continues the fiction. Wall Street is not on safe ground., In addition to the 100 bil in write-downs by brokerage houses, with more to come, the two largest bond insurers have some $2.4 trillion in guarantees they cannot pay, and that $2.4 trillion is not included in the write-downs. It doesn't take a genius to figure out the US financial outlook could be quite grim for some time to come. We will be CLOSED for MLK Day on MONDAY, Jan 21st. Back on Tuesday, with a brand new show and open for business. |
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