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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (98270)	10/3/2008 4:10:58 PM
From: GST	11 Recommendations Read Replies (3) \| Respond to of 110194

There is certitude GONE -- there is certitude that we are writing checks that we CANNOT cash. -- We did it individually and we used Wall Street to clear our bad checks -- and then Wall Street cashed these checks in Beijing, in Tokyo, in Dubai, in London, etc -- and the checks bounced. So what do we do? We whip out our Washington check book and start writing trillions of dollars of new bad checks. We owe trillions, we are adding trillions to what we owe and we have tens of trillions in unfunded obligations to Americans. And what do we have to service this debt? We have a gaping hole in our current account deficit and a zero savings rate in a country that refuses to finance current government operations from tax revenue in an economy that is going off a cliff. There is certitude GONE -- and to pretend otherwise would be arrogant and foolish.