Changes

"Over the past decade, we have added more than 10 trillion dollars<ref>http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm</ref> to the [[national debt]].  But most Americans have shown very little concern as the balance on our national [[credit card]] has soared from 6 trillion dollars to nearly 17 trillion dollars.  Meanwhile, [[Wall Street]] has been transformed into the biggest casino on the planet, and much of the new money that the [[Federal Reserve]] has been [[Quantitative easing|recklessly printing]] up has gone into [[stock market|stocks]].  But the [[Dow Jones industrial average|Dow]] does not keep setting new records because the underlying economic fundamentals are good.  Rather, the reckless euphoria that we are seeing in the financial markets right now reminds me very much of [[Stock market crash of 1929|1929]].  Margin debt is absolutely soaring, and every time that happens a crash rapidly follows.<ref>http://www.businessinsider.com/chart-margin-debt-bearish-signal-2013-5</ref>  But this time when a [[economic crash]] happens it could very well be unlike anything that we have ever seen [[Great Depression|before]].  The top 25 U.S. [[banks]] have more than 212 trillion dollars of exposure to [[Derivatives bubble|derivatives]] combined, and when that house of cards comes crashing down there is no way that anyone will be able to prop it back up.  After all, U.S. [[GDP]] for an entire year is only a bit more than 15 trillion dollars."<ref>http://oathkeepers.org/oath/2013/05/22/america%E2%80%99s-bubble-economy-is-going-to-become-an-economic-black-hole</ref>

"Over the past decade, we have added more than 10 trillion dollars<ref>http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm</ref> to the [[national debt]].  But most Americans have shown very little concern as the balance on our national [[credit card]] has soared from 6 trillion dollars to nearly 17 trillion dollars.  Meanwhile, [[Wall Street]] has been transformed into the biggest casino on the planet, and much of the new money that the [[Federal Reserve]] has been [[Quantitative easing|recklessly printing]] up has gone into [[stock market|stocks]].  But the [[Dow Jones industrial average|Dow]] does not keep setting new records because the underlying economic fundamentals are good.  Rather, the reckless euphoria that we are seeing in the financial markets right now reminds me very much of [[Stock market crash of 1929|1929]].  Margin debt is absolutely soaring, and every time that happens a crash rapidly follows.<ref>http://www.businessinsider.com/chart-margin-debt-bearish-signal-2013-5</ref>  But this time when a [[economic crash]] happens it could very well be unlike anything that we have ever seen [[Great Depression|before]].  The top 25 U.S. [[banks]] have more than 212 trillion dollars of exposure to [[Derivatives bubble|derivatives]] combined, and when that house of cards comes crashing down there is no way that anyone will be able to prop it back up.  After all, U.S. [[GDP]] for an entire year is only a bit more than 15 trillion dollars."<ref>http://oathkeepers.org/oath/2013/05/22/america%E2%80%99s-bubble-economy-is-going-to-become-an-economic-black-hole</ref>

==See also==

==See also==