Gee, what's another $590 billion?
It's dizzying, maybe even impossible, to total up the dollar amount of all the bailouts, guarantees, swaps, etc. that have ensued since the Bear Stearns debacle last March.
But we know how much more has been racked up in the last 24 hours — $620 billion.
That's $500 billion in mortgage guarantees and $30 billion each for the central banks of Singapore, Brazil, and Mexico. (South Korea got its $30 billion yesterday.)
I'm not sure which is the bigger outrage: The accumulating dollar amount of one promise piled onto another, or the fact no one's asking how it gets paid for.
And all the while, the national debt total leaps nearly 9% in just six weeks.
The whole thing makes the documentary I.O.U.S.A. look prophetic.
You say you haven't seen it yet? You've been waiting for the DVD to come out?
Wait no more. Shameless plug time: A release date for the DVD isn't set yet, but as an Agora Financial reader, you can get a copy shipped to you today. Free.
Even better, you get the companion book free — featuring complete transcripts of interviews with Bill Bonner, Ron Paul, Paul Volcker, and others.
The book and the DVD come free with something we call the Emergency "Personal Bailout" Bundle — which includes exclusive details on a way to rescue your retirement, courtesy of our own Chris Mayer.
I've discussed my own reactions to I.O.U.S.A. here, among other places. But you don't really need to read (or reread) that to decide whether this offer is worth your while — because the DVD and the book are free as part of this package we're making available only to Agora Financial readers.
Still, we can't extend this offer forever. It expires on Election Day next Tuesday. And why wait till then? Your free DVD and book can be shipped to you today if you act now.
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