...the angriest guy in economics

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    From the guru

    "The budget and trade deficits being accrued by the policies of the current regime were consuming 78.4% of the entire planet's net savings rate, a figure that has now grown to 81.3%, in order to finance U.S. debt." Gaaahhh!! Now, not only are we consuming 81% of the world's saving, but the Government Accounting Office (GAO) notes that, if we continue on this path of spending and acting like irresponsible dimwits, that "by the second quarter of 2009, the U.S. would no longer be able to service its debt" because "the economies of the rest of the planet could not generate sufficient capital in the form of savings for the U.S. to borrow in order to finance its debt." We will have to borrow more than the entire rest of the world saves, every freaking year! And this 2009 he is talking about is only five short years away!
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