Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

So we still have the same amount of debt.

But this I just want to show you some data here.

So what you do is you have, let's say, the 6 million.

Even if it were able to offload these loans, it still does not have enough money to satisfy all of the demand deposits or all of the liabilities.

This is the retiree health care benefits.

So we could say, well, a new figure comes out ... let's see African debt.

So it buys, it buys debt.

But unlike mortgages, a lot of corporate debt, they just pay the interest.

You're still solvent.

They serviced the loans.

Gobble, gobble, gobble, gobble, gobble.

Before Quantity Money

After Quantity Money

How much do you owe him? Whoa.

What kind of money?

How much was the lease?

What do you figure?

We would create incentives for securitization.

Payable to the City of San Francisco.

And so when the Federal Reserve or any Central Bank prints money, and it buys debt, it goes out into debt markets and it buys it, it usually buys the safest kind of debt, but that affects all of the debt markets, it goes out and buys in the debt market, they're essentially shifting the supply curve of money to the right, they shift the supply curve to the right.

Helps bring it down.

You have 189,000 as the value of this equity.

Now let's say it gets even worse.

I will try to do proportional to the size so that right over there, that is the accounts payable the five thousand dollars. they both have that on the liability size now where they really diverge so this is the same amount 5 thousand dollars it should be about 1 4 of the size its not exactly how I've drawn it but where they really diverge is that Jason

They're giving it to me for safekeeping.

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What is your strategy in your household?

Well everyone knows that it's not going to be exactly 10 .

So that's bankruptcy.

You go get bankruptcy protection.

This guy, he does have interest.

It allows let's say this group of borrowers let's say this pool of borrowers right here actually didn't

What are the domain and range for that function?

How much is the question.

Could be. How much?

What's the estimate?

It can do it through debt or equity.

I have 4 billion in residential CDOs, collateralized debt obligations.

This difference between this AAA corporate debt and the treasury, that is the yield spread.

So, each of these is an investor.

Have a surplus? Take two tax cuts, roll back some regulations and call us in the morning.

It's exciting, but we went over our finances and...

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