Tuesday, October 21, 2008

Monday, October 20, 2008

POLITICSHYPE: Uncle Sam Speaks

What would Uncle Sam be saying right about now?


You heard it first at The Daily Hype.

Redistribution and non-commercial use of of this image is allowed, but it must remain unaltered. Click on it for a much larger version. For any other use, please leave a comment and we'll get back to you.

This message was brought to you by the generosity of the following organizations:
Platinum Sponsors - AIG, Merrill Lynch, Lehman Brothers, Bear Stearns, Washington Mutual, Wachovia, IndyMac, Countrywide Financial, Fannie Mae, Freddie Mac, and Enron
Gold Sponsors - Long-Term Capital Management, Amaranth Advisors, Jérôme Kerviel (Société Générale), Nick Leeson (Barings), the Savings & Loan scandal, and the CMO desk at Salomon Brothers circa 1979
Silver Sponsors - The United States Congress and Alan Greenspan


Goldman Sachs (New York, NY and Washington DC)
c/o The Federal Reserve (Washington DC)

Event Coordinator:
Milton Friedman (a.k.a. MC Free Market)

Thursday, October 9, 2008


If you're American - man, woman, child, or some variation thereof - you're in hock. In addition to the credit cards, student loans, car payment, mortgage, home equity loan, and so on, your share of the national debt of the United States government is approximately $187,000 at the time of this writing.

If you take a minute to look at this clock, the debt is increasing by approximately $100,000 per second (at the time of this writing).

There was a story in the news recently about the national debt clock in New York City running out of room to display the ever-increasing total. As NPR put it:
The National Debt Clock has run out of numbers. The giant sign in New York City changes constantly as the federal debt increases. It was put up years ago by a real estate developer horrified that the debt was approaching $3 trillion. Some years ago, the clock stopped when the U.S. started running a surplus. But now it's running again, and when the debt struck $10 trillion recently, the owners had to improvise an extra number one.
This is apparently getting some attention (rightfully so!), because a web version of the debt clock is showing more 503 errors, which usually indicate capacity problems. If that page refuses to load the first time, try it again - it usually comes up. It has several interesting links with more information, as well as a news feed of related stories. One of the better ones describes some of the consequences and how nobody noticed when we passed the $10 trillion mark.

However, according to the folks at Truth in 2008, who "aim to bring the truth back into the national debate — and to stop our politicians from sweeping this issue under the rug," the problem is actually much worse. Things like Medicare and Social Security represent billions of dollars in unfunded obligations that will have to be paid for. On top of that, there's interest to be paid on this debt. If you've ever watched mafia movies, you know about the vig. If you haven't, then take a close look at your most recent credit card bill!

We pass no judgment on the veracity of the claims made by Truth in 2008, but they seem reasonable, and these folks make a good argument. Logically, this might - just might - have something to do with the way the stock market's been performing recently!

Monday, October 6, 2008

Out of the mouths of babes....

Saturday, October 4, 2008

KARMAHYPE: OJ is very, very guilty

One thing I have learned during my short time on earth is that "what goes around, comes around". It may not be on our timetable but eventually, it will catch up to you, and bite you in the butt.


And as a bonus, here's a demonstration of karma catching up to OJ: