What kind of situation do you have to be in to qualify for SNAP (food stamps)?
The household must have $5,000 or less in countable liquid assets combined with excess vehicle value. This includes cash, checking and savings accounts, stocks, and bonds. It does not include non-liquid assets such as land, minerals, and livestock. Prepaid burial insurance or funeral plans with a cash value exceeding $7,500 must be counted as a liquid asset.
Oh, SNAP, indeed. I guess the suggestion by one wag that people are taking their food-budget savings and plowing them into tech flyers like AAPL sadly falls into the "there is no Santa" file.
In the Great Depression (soon to be called the Second Greatest Depression), we didn't have SNAP, we had soup lines. It's so much easier to sweep our trouble under the rug when we can keep it off the street, no?
In other developments, Portugal is going to the PRIVATE MARKET to float bonds, because it really can't practically do it in public any more. Rumor is China will step up to buy these fine investment-grade vehicles. Well, when you have Ron Paul categorically promenading the Emperor's Clothes - THE USA IS BROKE AND CAN'T PAY IT'S BILLS - I guess risk diversification to Portugal isn't so crazy.
Just another day in Wonderland.
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