| Talkback | |
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Title: | Sell into this madness | |||
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| Name: | Clickfool | | |||
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| City: | Sussex | State: | England | | |
| Nothing has happened to change the appalling economic fundamentals. Uncle Sam has simply set up a Toxic Bank to buy unsellable worthless financial instruments bought by idiotic, overpaid bankers (spelling mistake) who don`t know their arses from their elbows. Uncle Sam is going to pay for this junk by - you guessed it - issuing vast new tranches of US Treasury Bills, $800,000 million of them. US national debt is going to soar. All those foreign governments that hold US funny money are going to be delighted at the prospect of US inflation and an even dodgier looking dollar. We will witness a steady inching towards the exit by them, and an increasing reluctance to hold dollars in any form. This wouldn`t matter quite so much but for the fact that the USA is still running up a colossal external deficit and it desperately NEEDS foreigners to take their funny money. The credit worthiness of the USA itself is at risk, and a catastrophic run on the dollar could take place at any time. |
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