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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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John B Lounsbury CFP
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Global Economic Intersection
  • Government GAAP 5 comments
    Oct 18, 2009 4:17 PM
    Here is an interesting graphic from a post by Bill Bonner at The Daily Reckoning (here). There is not much new news here for many Seeking Alpha readers, but the graphic is still excellent.
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Comments (5)
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  • Andrew Butter
    , contributor
    Comments (1654) | Send Message
     
    Presumably the scale is $ Trillion?
    19 Oct 2009, 07:30 AM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6879) | Send Message
     
    If the U.S. government were measured by GAAP, it would be broke.
    19 Oct 2009, 08:31 AM Reply Like
  • John Lounsbury
    , contributor
    Comments (4048) | Send Message
     
    Author’s reply » Yes.

     

    On Oct 19 07:30 AM Andrew Butter wrote:

     

    > Presumably the scale is $ Trillion?
    19 Oct 2009, 08:47 AM Reply Like
  • John Lounsbury
    , contributor
    Comments (4048) | Send Message
     
    Author’s reply » Very appropriate since they are backing the banks in the same condition.

     

    On Oct 19 08:31 AM Graham and Dodd Investor wrote:

     

    > If the U.S. government were measured by GAAP, it would be broke.
    19 Oct 2009, 08:48 AM Reply Like
  • Clive Corcoran
    , contributor
    Comments (1206) | Send Message
     
    Graham and Dodd

     

    The US government may be broken but it can't go broke - it can always borrow more money from future generations - they're not around (yet) to complain and instigate bankruptcy proceedings.
    19 Oct 2009, 08:51 AM Reply Like
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