Thats Really Wild

Ryan covers the Casey Anthony murder trial. Ryan noted that Moody’s downgraded Portgual’s credit rating to junk status. Ryan and Louis discuss Italy’s credit rating. Louis notes that Italy is too large of country to bail out and that many western countries have similar debt issues and keep kicking the can down the road by issuing more debt. Louis notes that the road eventually will be a dead end. Louis notes that the debt issues faced by countries can not be solved by issuing more debt. Ryan predicts that the US debt ceiling will be raised. Louis agrees and notes that the issue is that the debt ceiling gets raised routinely and immediate spending cuts are not taken seriously. Louis speculates that the Fed could secretly funnel money to third parties to purchase US debt and comments that since the Fed is not audited it is difficult to keep tabs on their activities;Ryan and Louis note that interest rates are kept artificially low and that all the sovereigns have debt issues; Ryan note that by keeping interest rates low bubbles are created. Louis notes that today’s low interest rates are designed to reflate the housing bubble but notes that as our currency is debased, even if interest rates rise and home prices drops the losses could be offset by paying back in the debased currency;Louis notes that owning a home, commodities, gold and silver may be safe havens in light of economic uncertainty;Louis and Ryan discuss the difference between buying homes as investments vs …
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