President Barack Obama Message Board

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Politics : President Barack Obama

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To: tejek who wrote (104309)	11/17/2011 7:09:12 AM
From: RetiredNow	Read Replies (2) of 149317

The Free Market will have its way regardless of the kick the can down the road games that anyone plays. It's pretty simple really. You've worked hard all your life. Would you invest in European bonds right now? I wouldn't for a very simple reason. The Europeans are fiscally inept. That's why spreads are increasing. And deservedly so. I don't even own any Treasuries, because the US gov't is also fiscally inept. The only thing holding the prices of our bonds high is the truly massive purchases of Treasuries by the Fed. That will lead indirectly to massive inflation. This is the catch 22 of the games all of you have been playing. The end game cannot be avoided. None of us really need to push for fiscal discipline anymore. The free market is now doing it for us. And as I've said a million times before, when you decide NOT to keep your own house in order, when market forces do it for you, it is a hell of a lot more painful. Welcome to the bed you made. Now you have to lie in it until the end.

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