Tacky Sun

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I would rant, but Jacob Davis already did.

Posted by Jeremy on October 11, 2007. No Comments.

U.S. National Debt has Fallen!

Congress has increased the ceiling on the national debt to $9.8 trillion. Let me assure you that the U.S. debt is increasing only superficially. Counting the debt in U.S. dollars is like counting the money in your wallet by the number of bills you have, ignoring their denomination. You can’t measure the U.S. debt in U.S. dollars; we need an external measurement. How much has the national debt changed in, say, Canadian dollars?

Month USD Exchange CAN
Sep 2002 6.2 trillion 1.576 9.8 trillion
Sep 2007 9.0 trillion 1.027 9.2 trillion

Over the last five years, the U.S. national debt has fallen by $CAD 600 billion. There are advantages to having the U.S. dollar in a free fall. Those suckers who have loaned us money are actually paying us to use it!

Posted by Jeremy on October 1, 2007. 4 Comments.