[TigerLikesRooster]

This is the same Greenspan who in 1977 wrote a prophetic PhD dissertation (which was removed from his university at his request in 1987, when he became Fed chairman) on how financial bubbles develop in real estate and then burst.

This is simply outrageous.

Not only was Greenspan aware of it, but so were US top financial circles. In other periods of history, this could lead to accusations of “treason”, but today our sense of personal and collective responsibility is more faded and faint than before. Alternatively, perhaps, there is a level of ultimate responsibility that is darker and runs deeper that the guilt of any one individual.[7]

I could not agree more.

[TigerLikesRooster]

P!

[CharacterCounts]

If china does not think it is wise to invest in US treasury obligations, why should Americans?

No right thinking, middle class American, should have any of their investments financing this debacle called the Obama administration.

[RC one]

I wonder if we’ll look back and wish we had bought more military or less.

[bert]

Being aware and bring able to control progressive nation wrecking congressmen is an all together different kettle of worms

What it all boils down to is an increasing price of gold. It must rise because there is not enough to accommodate all the money sloshing around at current rates

One wonders why the article onitted USA silver reserves in the listing of assets?

[InterceptPoint]

A couple of points that I think are important:

The author identifies the $2 trillion that needs to be rolled over this year as a big problem. I personally don't think it is nearly as big a problem and the requirement to fund the $1.6 trillion for this years deficit. I'm assuming that the money to fund the rollover will simply come from the current bond holders. This may not be entirely true but I bet it will cover the majority of problem.

Not so with $1.6 trillion. The fact that the Chinese are not currently buying U.S. debt will a a huge problem. There just isn't enough capital floating around the system now to cover this for even one year. At least IMHO. So where will it come from? I see no alternative to the Fed using it's all powerful "credit" to buy the debt. And we all know where that will lead us. Prepare now for your inflationary future Obama-style. It could make Jimah Catah's Innnflaaation look like peanuts.

[dr_who]

You would think that the Fed would raise interest rates first before the crap really hits the fan. Might kill any form of recovery, but hey, Democrat pet projects come first.

[Wolfie]

Heck, we just might have to call off the Empire. Silver lining.

[brianr10]

Well, you can forget about your free health care, then.