US Debt Clock Runs Out of Digits

The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.

The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.

The board was erected to highlight the $2.7 trillion level of debt in 1989.

The clock's owners say two more zeros will be added, allowing the clock to record a quadrillion dollars of debt.

Douglas Durst, son of the late Seymour Durst - the clock's inventor - hopes to replace the Manhattan clock with its lengthier replacement early next year.

For the time being, the Times Square counter's electronic dollar sign has been replaced with the extra digit required.

For its part, the digital dollar symbol has been supplanted by a cheaper version - perhaps a sign of the times for the American economy.

Some economists believe the $700bn bail-out plan for ailing US financial institutions could send the national debt level to $11 trillion.

from the BBC.com

End of an Empire?

While our politicians and government downplay or even deny our financial problems, foreign media states it plain and simple.

Check out this great Howard Zinn video on America the Empire:

Money in the Bank

So my roommate asked me if he should take all of his money out of Washington Mutual when it was bought by JP Morgan Chase last Friday. I hesitantly said up to $100,000 of his money is safe, repeating the goverment's promises that I don't even believe.

I then stopped by my branch of 'formally known as Washington Mutual' at 5:30am on Monday on my way to work and all three of the ATMs told me they were not able to give me money. Good thing I had my 'emergency' $20 bill in my bag or I would have had trouble making it to my job.

These are crazy times and it scares the excrement out of me that I have to trust the Bush Administration to make it right. If Obama wins in a month and a half, he is going to be handed a worse situation than George senior left Bill Clinton. At least we saw Clinton steer that mess back into health, which gives me hope.