The True Size of Government Debt? It's truly scary--
Niall Ferguson: If the young knew what was good for them they'd join the Tea Party - Telegraph: "Professor Ferguson argues the true size of government debt in Western democracies is many times larger than "deeply misleading" figures issued in the form of bonds because they do not record unfunded liabilities of social security and health care schemes.
"The last corporation to publish financial statements this misleading was Enron," he wrote."
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Over at the SubStack in the Last Week...
11 hours ago