The Debt Ceiling Explained
Treasury Secretary Geithner's letter to Congress on the debt ceiling warns that if Washington doesn't raise the government's borrowing limit, the economy will face catastrophe.
The U.S. government without a rising debt ceiling is like an average American without a credit card. If you can't borrow money, you can only spend what you earn. As Bruce Bartlett explained to me, "Let's say the Treasury makes $100 of cash today but it has to pay $1000 of bills. You have to create a line." If we pay off investors, we can't pay off contractors. If we pay Social Security checks, we can't pay federal employees. Michael Linden predicts the immediate cessation of 40 percent of federal government activities, including Social Security and military operations.
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The Canadian professor has an extensive collection posted on his site.
- Peterson's Great Books list features classics by Orwell, Jung, Huxley, and Dostoevsky.
- Categories include literature, neuroscience, religion, and systems analysis.
- Having recently left Patreon for "freedom of speech" reasons, Peterson is taking direct donations through Paypal (and Bitcoin).
Best case: Redrawing borders leads to peace, prosperity and EU membership. But there's also a worst case.
Despite incredible economic growth, it is not necessarily an investor's paradise.
- China's stock market is just 27 years old. It's economy has grown 30x over that time.
- Imagine if you had invested early and gotten in on the ground floor.
- Actually, you would have lost money. Here's how that's possible.
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