Now it seems to me, dear reader, that there are two ways in which to approach the issue of politicians’ ceaseless lying.
Like your humble blogger, you can simply adopt a sound base position: That everything a politician says is almost certainly a lie-by-omission, half-truth, distortion, obfuscation, misdirection, or indeed, a bald-faced lie:
“I have certain rules I live by. My first rule: I don’t believe anything the government tells me .. NOTHING .. ZERO.”
– George Carlin
Or, you can enjoy learning HOW they are deceiving you, by listening very closely, with a very sceptical ear, to every word they say.
Here’s the late, legendary George Carlin explaining the latter method:
Barnaby Is Right 
George Carlin and Bill Hicks. Two people the world can do with right now.
Right on the money and sooooo funny!
Hey TBI
Can you post the link for the article that the fellow who claimed to know all about derivatives made some comments?
A couple of months ago if I remember correctly.
Here you go JMD … think you mean Bill, in the comments … ?
Cheers, that’s the one. I’m still intrigued by his comment,
“These 700 trillion aren’t assets in the real sense, like a car or house worth 700 trillion, they don’t exist as physical things. The notional is the amount on the contract which interest is calculated on”.
Interest payments from non existent assets!? Something only very learned men could devise for sure.
Good article from Doug Noland today;
http://www.prudentbear.com/index.php/creditbubblebulletinview?art_id=10625
He deals specifically with government debt. A bit ambiguous at the end but understandably so… I guess.
He is brilliant and that is gold.