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Re: Why the housing and mortgage crisis is far from over 

By: capt_nemo in POPE 5 | Recommend this post (2)
Tue, 08 Jan 19 7:45 AM | 54 view(s)
Boardmark this board | Pope 5 		Msg. 19466 of 62138
(This msg. is a reply to 19464 by Decomposed)
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WELL the writers of my article better get their numbers straight LOL. Thanks DE!!!!!!!!!!!!!!!!!!!!!




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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The above is a reply to the following message:
Re: Why the housing and mortgage crisis is far from over
By: Decomposed in POPE 5
Tue, 08 Jan 19 7:43 AM 		Msg. 19464 of 62138

Nemo:

Re: "...recent Treasury estimates putting the national debt at $22 trillion."But that isn't how much we owe. It's a lie.

Generally Accepted Accounting Principles (GAAP) require every publicly traded corporation to include the present value of future obligations in its reported DEBT. The United States exempts itself from this requirement.

If the government reported its debt the same way these corporations do, the debt would be between $125 trillion and $200 trillion.

Then there's all the other debt: State, Municipal, Corporate, Personal....

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