Two Economic Stories that Should Scare the Heck Out of You

I was sitting here trying to find a way to wrap up the week and then, like a bolt of lightning, an idea hit me.  Gold expert Jim Sinclair sent me this story:“Federal Budget Deficit Hits $1 Trillion For 1st 9 Months Of FY’10.” The story said, “The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009.” So where did the “shortfall” come from?  Try the more that 8 million who lost their jobs.  The story went on to say, “. . . individual income and payroll tax receipts were down 4% over the nine-month period, suggesting that wages and salaries have not improved to the extent that corporate profits have.”Corporate profits have “improved” because they laid-off all those workers!!  (Click here for the entire Dow Jones Newswires story)