Noteworthy:
"Do we all get that? The biggest holder of foreign debt, $2,000,000,000,000 worth according to this story, is going to try to slip away from the dollar while no one’s looking.
What Turbo Tax Timmy is doing is printing dollars to buy up Treasuries. Meaning, he’s printing money, which has no intrinsic value other than what you can get someone to trade you for it … that is, it’s basically a piece of paper, to buy up an asset which at least gives the appearance of having value since at least in theory the Fed will redeem it for dollars."And yet the fools (especially those local ones) who say the financial meltdown is not a crisis of confidence will remain clueless.
I guarantee that they will be no more ready to protect themselves than they have been throughout this mess they helped in creating.
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Bubba, I'm investing in dried beans. I figure I can live off beans if I have to. I can plant them along my fenceline and harvest enough for an entire year. :) selahV
ReplyDeleteIt would appear that those on Wall Street are not to convinced that all is going well. Insider trading hit a full swing today.
ReplyDeleteThe folks in Europe, Germany and France for instance who didn't have billions or trillions to throw at a "preceived crisis" have turned the corner and are out of the woods.
Had the US done what these folks in Europe and what was done in 1920 the "recession" would have been over. Of course the Dems would not have had the excuse to waste a billion dollars on paying off the idiots who voted for the "idiot in chief" had that been done.