After having seen this cartoon, don’t you agree that no other president has given more to his country? We should ask him if he would like to lead Europe in that direction. Maybe let him replace Trichet?

Illustration by Kevin Kallaugher

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Buffett

“In effect, our country has been behaving like an extraordinarily rich family that possesses an immense farm. In order to consume 4 percent more than we produce — that’s the trade deficit — we have, day by day, been both selling pieces of the farm and increasing the mortgage on what we still own.”

He goes on to explain why the US can spend like crazy…

“…we can behave today as we wish because our past financial behavior was so exemplary…”

…and warns that it will be over - sometimes.

“…our national credit card allows us to charge truly breathtaking amounts. But that card’s credit line is not limitless.”

AND he actually proposes a solution!

“We would achieve this balance by issuing what I will call Import Certificates (ICs) to all U.S. exporters in an amount equal to the dollar value of their exports. Each exporter would, in turn, sell the ICs to parties — either exporters abroad or importers here — wanting to get goods into the U.S. To import $1 million of goods, for example, an importer would need ICs that were the byproduct of $1 million of exports. The inevitable result: trade balance. ”

Buffe, we love ya! Now, let’s hope there will soon be a US president that has the balls to actually do something!

Full article

Source: marcialis.eu

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The record is 154 posts in 1 hour. Let’s see if we can break that record! So visit Bacc08.com now!

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for all the people who have strong maths in school and need to do “Polynomdivision”, here is a link you should really check out!

http://www.arndt-bruenner.de/mathe/scripts/polynomdivision.htm

Great script!

Have fun getting 10s !

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