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265
Peter P
2008 Mar 6, 2:08am
Peter P
2008 Mar 6, 2:08am
Kim Jong-il is another that owns more than Buffet.
The Queen is even richer. She owns UK and all the inflated homes. :)
God save the Queen.
266
Jimbo
2008 Mar 9, 5:02pm
Are there any fantastic, unique Californian food that can blow visitors away without being too damaging on the wallet? Anything below $100 pp would be good.
Okay this is kind of late, but you really should take them to Chez Panisse in Berkeley. Quite a drive from South Bay, but well worth it and uniquely Californian.
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The biggest default in history has already happened: the US has devalued its promises of repayment to everyone who bought US Treasuries or US bonds of any kind, by devaluing the dollar 50% in just a few years.
What does this mean for the US? Higher interest rates. I don't understand why any person or any government would trust the dollar after this. The logical course of action would be to demand much higher interest rates to compensate for the risk of holding what is rapidly turning out to be only so much green toilet paper.
The thing I don't get is the huge gap between the interest rate the Fed sets for interbank lending (which seems to limit what Americans can get on their CD's and savings) and the very high rates we now see for municipal bond lending (sometimes as high as 20%). Something just doesn't make sense.