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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Broken_Clock who wrote (63739)	6/14/2006 11:59:27 PM
From: gregor_us	Read Replies (1) of 110194

Nice. 9th Inning Fisher Joins the Chorus of the Inflation Fighting Charade (Brigade). Oh, and he wants to prevent the debasement of the dollar. That's nice. I'm not sure why the hilarity of it all didn't hit me sooner: a new FED chairman (straight from the executive branch), FED governors, and former FED officials all on TV and radio claiming to fight inflation as the national debt continues to go supernova. Oh, and "they're gona get commodity prices down", and, shadow box with Owner's Equivalent Rent in the CPI. Not one of them mentions the massive government borrowings. Not one. Could the inflation be coming from the issuance of government bonds and attendant weakness in the dollar? Huh. That's a tough one. The Debt Ceiling has been raised from roughly 5.5 trillion to 9 trillion since Bush took office. If that kind of accelleration looks bad, consider that 1.8 trillion of that has come in just the last 20 months. Intense. Great to know the FED is on the case though. They're going to "raise interest rates." This is LBJ's Guns and Butter fiasco all over again. But we can count on FED officials to not mention it. WASHINGTON, Nov. 19, 2004 (CBS/AP) President Bush signed legislation on Friday raising the government's debt limit by $800 billion and clearing the way for Congress to send him an overdue $388 billion spending bill to finance most federal agencies. The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001. Morning Edition, March 16, 2006 Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52/48 vote, increasing the ceiling to $9 trillion. The bill now goes to the president.

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