Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Metcalf who wrote (84587)	9/5/2008 5:53:27 AM
From: westpacific	5 Recommendations Read Replies (2) of 116555

FNM/FRE - IT HAS TO BE BAILED OUT... What do you folks not understand. CHINA Owns at least 340B of FNM/FRE bonds, what would you say if America owned 340B of China bonds and we defaulted on them. China bought them because they are GSE;s, backed up by the 'good faith' of the US Government. Bill Gross is correct, we default, SPX goes to 300 and INDU goes sub 3000. I kid you not. And ask, how do we fix this problem, note the Current Account Balance chart, US is a banana republic. The only way to fix it is to slash and burn so many government programs and stop spending insane amounts of money on military! Not to mention we can never fund all the promises we have made for healthcare, nor retirement! news.goldseek.com W

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