On Fri, Jun 4, 2010 at 1:43 PM, Jim Devine <[email protected]> wrote: > We should remember that the U.S. is still the most powerful country in > the world along several dimensions. This means that the rentiers are > likely to keep their faith in the Treasury long after they've given up > on California and Greece. (T-bills are still the safest of havens.)
In the simplest of terms, where else are they (i.e. the rentiers) going to go? A few months back, it was conceivable that the Euro could emerge as an alternative safe-haven. But that is not the case anymore. -raghu. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
