579...it was stated in parliament 2 days ago, the surplus is on track.

And you believe that!

May I suggest you stop listening to Mr Swan and have a good old fashion look around.

The latest prediction from credit agencies was for another deficit of around $20 billion, the same as suggested by your Mr No.

With the thousands that have lost their jobs, along with the thousands in waiting and the thousands sleeping with one eye open, who do you think may have it right.

Those on this thread will find the following url of interest.

http://tinyurl.com/c3m5obo

It discusses the relationship between unemployment and energy consumed
in the economy. As the resources industry winds down less energy will
be used and unemployment will rise.
That seems a simple enough relationship, but it will be interesting to
see if energy use continues to decrease, will unemployment continue to rise.
There does seem to be a direct relationship. If so what does shutting
down power stations say ?

Watch this space.

Ming the Mechanic: The unknown 20 trillion dollar company

There is a busy little private company you probably never have heard about, but which you should. Its name is the Depository Trust & Clearing Corporation. See their website. Looks pretty boring. Some kind of financial service thing, with a positive slogan and out there to make a little business.

You can even get a job there. Now, go and take a look at their annual report. Starts with a nice litte Flash presentation and has a nice message from the CEO. And take a look at the numbers.

It turns out that this company holds *(
23 trillion dollars in assets,*

and had 917 trillion dollars worth of transactions in 2002.

That’s trillions, as in thousands of thousands of millions. 23,000,000,000,000 dollars in assets.

Full story

http://ming.tv/flemming2.php/__show_article/_a000010-000923.htm

Do you see the custody and safekeeping services offered?
Thats right.
What do you think that’s all about?
Safe keeping of original instruments of indebtedness in their original form?
i.e. original stock certificates, original mortgages, original birth registrations, etc.
How else could they claim to hold assets in excess of $34 trillion dollars?
Thats right….now your on to it.
I would never tell you this if I was not in possession of proof.
http://ming.tv/flemming2.php/__show_article/_a000010-000923.htm
http://www.dtcc.com/about/subs/dtc.php

OUG, well it is correct, it is holding paper.
Paper for pulping is worth very little.
The paper represent debt, but the debt of that level is worthless.
It can never be honored, even the pixel money generated will not be
able to honor those debts.
If someone is silly enough to generate enough pixel money to cover them
the inflation will simply cancel them out.

Do you have money in the bank ?