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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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From: UncleBigs12/3/2005 2:42:03 PM
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If Greenspan was serious about the budget deficit, he would stop monetizing treasuries and let interest rates move up to the market.

Politicians won't do something until there is a crisis. Higher interest rates can be blamed on the budget deficit.

As long as the Fed is there monetizing the drunken spending, there is no willpower to do anything about it.

Meanwhile, gold soars, inflation soars and the government continues cooking up the cpi numbers.

So far, so good. The only thing that can derail this arrangement is the collapse of housing and consumer spending.

However, when that happens, Bernanke will be on the scene to combat deflation.

This all can go on for a very long time.
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