I am battling a bad Cold today, one of the reasons I did not blog yesterday. It is also coming up to Election Day, and Readers should be concentrating upon political factors. I also have wondered how much the Economic Crisis has been manufactured, simply to find a Means to pay off political supporters, before the exit of the current Administration. This Post by Mark Thoma functionally outlines the concerns of Economists at the current time. It becomes a real exercise to estimate if the World will pick up the amount of Treasuries which will be generated.
A real Problem which few seem to analyze consists of the absorption of the Credit viability of the U.S. Government. Only Americans consider that Treasuries possess the highest Credit rating in the World. Treasuries which are not bought must be considered equivalent to Printing Money. We now at a position where Treasuries has lost their Shine in the realm of World finance. I would not advise the Fed to any form of Precipitate action, but Interest rates should be going up, not down. Fiscal responsibility will become a Watchword about the time any new President takes Office. I would not enjoy being in the White House, as this Individual is brought up to speed as to limitations he will experience.
There was one Pundit some years ago, who stated the next Election was already determined, by the time the last Election Results were tabulated. The guarantees offered by current Candidates to Win having already determined the anger levels of the Electorate next time. Such an assessment expresses an inevitability to events I can’t really agree with, but it certainly places responsibility where it belongs. The Pundit, by the way, was Will Rogers; American Politics have been a disgrace for a long time. The inevitability of Context certainly has some place in the determination of Events, though it may be more dependent upon the criminality of current administrations. lgl
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