A week or two ago, I got into a rather unpleasant back and forth with my father. This happens for two reasons. The number one reason this happens is because he is still my dad and as such, he thinks he is always right. The second reason we got in a nasty back and forth is that in fact, I know I am right. I no longer yield when the facts are on my side. Which brings me to the most effective and operative quote I have ever employed while mired in debate club.
You are entitled to your opinion, however, you are not entitled to your own set of facts.
I spend 4 or 5 hours a day on line. I read mostly. I clip and I write. It is hard work. I have nearly 100 websites I read every day. Most are on my blog roll. I do this to teach myself and make informed decisions. I also find the world fascinating. The world is on the precipice of the greatest economic disaster of all time. This was brought about by rampant greed. The symptoms are leverage, re-insurance, counter party risk, derivatives, swaps and all kinds of nasty financial instruments that I do and do not understand. Do you know what a credit default swap is? If you don't, how can you argue the merits or financial risk that they represent? You can't. http://en.wikipedia.org/wiki/Credit_default_swap These instruments are complex for a reason. A very purposeful reason. They are designed to exploit the people who do not fully understand them. Situation ally, they can be quite lucrative...
The United States and Canada are fully exposed to the Eurozone in a far greater capacity than most people understand. Of course our bankers understate this. Just as Bank of America claims they are cash flush while selling every asset in sight and begging Warren Buffett for money. Shit is getting really interesting, really fast. But what do I know? Listen to this guy instead, courtesy of Plan B Economics. Only 90 seconds of your life.