A FEW TRILLION DEFICIT? NO! $700 TRILLION ELEPHANT IN PLAY IN OUR ROOM

SANTA MONICA, Calif. (MarketWatch) -- There's a $700 trillion elephant in the room and it's time we found out how much it really weighs on the economy. Derivative contracts total about three-quarters of a quadrillion dollars in "notional" amounts, according to the Bank for International Settlements. These contracts are tallied in notional values because no one really can say how much they are worth. But valuing them correctly is exactly what we should be doing because these comprise the viral disease that has infected the financial markets and the economies of the world. Try as we might to salvage the residential real estate market, it's at best worth $23 trillion in the U.S. We're struggling to save the stock market, but that's valued at less than $15 trillion. And we hope to keep the entire U.S. economy from collapsing, yet gross domestic product stands at $14.2 trillion. Compare any of these to the derivatives market and you can easily see that we are just closing the windows as a tsunami crashes to shore. The total value of all the stock markets in the world amounts to less than $50 trillion, according to the World Federation of Exchanges. To be sure, the derivatives market is international. But much of the trouble we're in began with contracts "derived" from the values associated with U.S. residential real estate market. These contracts were engineered based on the various assumptions tied to those values. Few know what derivatives are worth. I spoke with one derivatives trader who manages billions of dollars and she said she couldn't even value her portfolio because "no one knows anymore who is on the other side of the trade." (Excerpt) Read more at marketwatch.com ... In his deliberate effort to sink America's economy, Oba-Khomeini has left his Secretary Geithener working on the Economy WITHOUT ANY SENIOR STAFF!!! No deputies nor any assistance from the normal top Department 50 positions the Administration is REFUSING to fill.

NOT ON PURPOSE? Are you kidding? Meanwhile at the Obama House.... Obama White House: Extravagance, Secrecy and Enemies Lists Canada Free Press ^ Saturday, March 7, 2009 Sher Zieve While Obama does nothing practical to stop the economic bleeding of the American system and its people, he has now established Wednesdays as his weekly revelry day—replete with cocktail parties, well known entertainers to amuse both Mr. and Mrs. Obama and their guests and dinners consisting of the best in imported fare—including multi-course dinners and $100/lb steaks. These are what are left of our tax dollars at work.

With their actions, the Obamas seems to be parroting the words of the oft—if questionably—quoted Marie Antoinette who purportedly said satirically of the French starving masses: “If they have no bread to eat, let them eat cake!” (Historically updated to .... "let them eat grits". Evidence that Obama and his comrades created the current financial crisis—which quickly expanded to include the world—in order to grab almost unlimited and absolute power to force tyranny onto US citizens seems to now be a fait accompli. The people in the United States of America have been and are continuing to be summarily and purposefully ruined by a group of elected officials who report to Fearless Leader Barack Hussein Obama. In the meantime, this same Obama is lavishly wining and dining himself, his family and friends at least once a week.

Obama drags CEOs of failing companies over hot coals in front of endless investigating committees (committees comprised of those who actually created the economic disaster) while Joe Biden and his Union boss cronies enjoy $400+/night hotel rooms, sumptuous meals and other accouterments at Florida’s Fountainbleau Hotel and Resort. With regards to the almost instantaneous robbery of the US’ wealth under the ongoing guise of “stimulus packages,” Obama under cover of darkness hastily pushed them through—with no time for most legislators to even read them—and the new administration was able to quickly place the USA into an increasingly impoverished condition. (Excerpt) Read more at

canadafreepress.com ... Inherited Financial Crisis?......... Wall Street Drops 20% in six weeks . Nor since President Wilson in the early 1900s has there been such a drop at the start of a presidnecy. Not even Jimmuh the idiot Carter. Note: Employment Situation...(MORE JOBS LOST Since Hussein's Election than in previous 11 months) Opinion: Obama on the side of ORGANIZED CRIME Published by Lee S. Gliddon, Jr. The OCCIDENTAL OBAMA As the Obama meandering trail of life becomes the interstate highway of courtroom trials for our beloved leader, Birdie Obama, it perhaps is time to weave the fabric of Barack’s Muslim, Kenyan, Indonesian, Hawaiian serape to explain just what he is hiding by hiring his platoon of lawyers. What is taking place is indeed conspiracy as in the sense a violation of the RICO Act. This involves the state of Hawaii and Occidental College, if not Columbia of New York and Harvard. OBA-KHOMEINI IN TROUBLE. His popularity has plummeted to 56%, not that high or special compared to other presidents in their first 100 days. Even some of his Democrat Senators are aghast and abandoning him and voting against his budget, forcing Nancy Pelosi in her refusal to compromise her House version to say she will go back to last year's budget to keep the government running. No 8% spending increase and NO nearly 9,000 pork bills in that. Well done America.