Wednesday, August 26, 2009

America is bankrupt

It is the news all over the place. America deficits will keep growing for the foreseeable future and in about ten years time, it will balloon to about $9 trillion, which at this rate they will never have the strength to solve but to debase their currency.

Perversely, the bond markets today basically ignore the news. Everyone is more preoccupied with the immediate now.

There are so many things for the markets to worry about later that it just might choose to ignore it. The Market might be failing because we are failing. Would this be the way that we come apart? I hope not, but it no longer need any stretch of the imagination to think so.

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