So you're saying the Economist magazine picked the wrong guy? .
On Sun, Mar 13, 2011 at 11:21 PM, Gruss Gott <[email protected]> wrote: > Wow! Brother!! Obviously I couldn't agree with you more. Just one slight > point: > > Guess who buys 70% of our bonds right now? YOU! (or your kids). > > What the Federal Reserve does is say, "hey lookee that! I've got $1T". In > other words, they just make it up. Type some keys and blamo! $1 trillion > in their account ("quantitative easing" QE). Then the Fed uses their new > dough to go out and buy stuff. In this case US bonds. > > This is why PIMCO's Bill Gross just sold his entire holding of US bonds; he > knows that in June when QE2 ends the government will have to raise yields of > new bonds to get someone to buy that 70% we need to keep our economy from > collapsing. > > Of course, few will buy, so we'll see a QE3. More monster debt for your > kids. And that will drop existing bond prices which is why Bill sold. > > What's it all mean? Stagflation. Rising interest rates, rising prices, > stuck economy. Just like the 70s! > > And we have zero choice. Hopefully we the depression we were supposed to > have and held off with all the debt won't trigger a ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:335068 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
