It seems that we are now all in the insurance business. For a mere $85+ billion “loan”, the Federal Reserve–backed by the full faith and credit of the US Treasury–just became a 80% stakeholder in AIG, the nation’s largest insurance company. Hmmmm… Just as I warned, the Mother of All Bailouts (MOAB) has grown again. Methinks this is going to get a lot worse, before it gets better. Who will we bail out next? Chase Manhattan Bank? General Motors? United Airlines? Chuck E. Cheese? Hey, no prob, we’ve got a big checkbook. The sky’s the limit. We’ll just create the money out of thin air, and “owe it to ourselves.” Let’s face it: The nation is already functionally bankrupt. And as the MOAB continues to grow, we can expect that foreigners will one sad day declare our once-proud nation literally bankrupt, and refuse to take our paper. At that point the game will be over. Move over, Comrade Mugabe. There’ll be a new inflationary wizard in town.
The high bid in the SurvivalBlog Benefit Auction is now at $750. The auction for a large mixed lot that includes: A Special Mixed Vegetable Case-Six #10 Dehydrated Food Cans (Retail Price $105.95) This special Mixed Vegetable Case contains six #10 (96-ounce) cans–one can of each of the following: Mixed Vegetable Blend, Green Beans, Sweet Garden Peas, Mixed Peppers, Potato Dices, and Sweet Potatoes and a EZ-Towels 10 Pack Combo (10 bags of 50 towels. Retail value: $99.95). These items were donated by Jan at Healthy Harvest Foods. An assortment of world class loose leaf teas, and a box of Bellagio hot chocolate (25 individual packs), with a combined value of approximately $100. These items were courtesy of Charlie at CMEBrew.com. A NukAlert radiation detector (a $160 value), donated by at KI4U.com. And, a Katadyn VARIO water filter, donated by Ready Made Resources. (An $89 retail value.) The auction ends on Monday October 15, 2008. Please e-mail us your bid.