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Learning in Freedom

Welcome to Learning in Freedom, a blog all about the learning adventures (and mishaps) of the Allen family. My four children are unschooled, following their interests and passions every day and living the lives of their choosing. The purpose of this blog is to share our every day lives (and my not-so-humble opinons) with anyone interested in stopping by. We hope this will give a glimpse of how natural learning unfolds from day to day......

Monday, December 08, 2008

Synopsis

The following is a quote from a rather lengthy email I received this morning about the economic situation and the trend of depressions in the past. It was written by someone named Dick Eastman of Yakima Washington. I am lifting this one quote as the perfect synopsis of what has happened and what I think about this "bailout".

"Nothing is more absurd than what we are doing now, which is borrowing from the international bankers to bail out the international bankers after the international bankers take ownership of all of our foreclosed houses and all of our assets sold to them in our economic distress which has been engineered by them in the first place."

1 Comments:

Blogger Jon Gold said...

We are not borrowing from the bankers, we are borrowing from China and anyone else that will buy our treasury bonds. China and Japan now hold (~equally) 40% of our outstanding debt of nearly 3 trillion dollars. The rest of the numbers are here: http://www.treas.gov/tic/mfh.txt

Expect that number to rise exponentially before this recession is over in ~24-36 months.

1:38 AM  

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