Nov 12
Not so lucky now…
Nobody wants to buy Ireland’s debt. Same for Greece until they jacked the interest they paid up to 11%. To avoid us having a crisis in debt interest the Fed is just printing money and debasing our currency by 15%. But it will catch up with us too.
This is what happens when you let OTHER people spend YOUR money. It always happens. Always will, always has. Whatever government forms in Ireland after the collapse would be well served to have a Constitutional requirement that severely limits access to other people’s money.
November 12th, 2010 at 10:53 am
Junk debt has been a great investment lately, high returns and low default rate.
If “debasing our currency” is so bad, why are so many countries complaining about our doing it? I doubt that they are concerned with our welfare. From your business sales standpoint, cheaper dollars is good. And it is a rather complex situation with currency value and economic strength. You may remember in 1985 that the dollar was so strong that we made an international deal to lower it. For my adult lifetime, worriers have moaned about the debasing of the dollar while they collected their prosperity. It’s just not a big deal.
November 12th, 2010 at 10:56 am
They worry we will take them down with us. A valid concern.
I may sell more software to Europe, but I also sell less software during global financial crisis.
You are so in the tank for Obama that you can’t even see how bad things are. Perhaps if we tied Federal pensions to the economy, you might be more concerned.