UPDATE 5-Ecuador defaults, says to fight “monster” creditors
This may be our future, and maybe for our children and grandchildren….really. My problem is, although we see weekly and monthly estimates of the costs of these bailouts, and we are reassured that folks like AIG will pay the taxpayer back someday…when congress turns down more bailout money and the executive branch goes ahead with an end run and finds a way to grant it…HOW MUCH ARE WE AS TAXPAYERS GOING TO BE RESPONSIBLE FOR?
This is a rhetorical question…but the government appears to be saying whatever we think we need to spend.
I posted this old ex-senator yesterday (and lawyer and actor)…but his final bit of wit is exactly what bothers me….
I feel like the guy in Tiffanys when the price tags are turned over…”If you have to ask how much, you can’t afford it.”…..
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
December 13th, 2008 at 4:47 pm
The last panel says it all “Stay Tuned for the Thrilling Conclusion”
Well, someone else beat us to it…
http://www.reuters.com/article/etfNews/idUSN1254958620081212
UPDATE 5-Ecuador defaults, says to fight “monster” creditors
This may be our future, and maybe for our children and grandchildren….really. My problem is, although we see weekly and monthly estimates of the costs of these bailouts, and we are reassured that folks like AIG will pay the taxpayer back someday…when congress turns down more bailout money and the executive branch goes ahead with an end run and finds a way to grant it…HOW MUCH ARE WE AS TAXPAYERS GOING TO BE RESPONSIBLE FOR?
This is a rhetorical question…but the government appears to be saying whatever we think we need to spend.
I posted this old ex-senator yesterday (and lawyer and actor)…but his final bit of wit is exactly what bothers me….
I feel like the guy in Tiffanys when the price tags are turned over…”If you have to ask how much, you can’t afford it.”…..
http://blip.tv/file/1528079
Fred Thompson on the Economy
December 13th, 2008 at 5:24 pm
The hand is the cure, and the hand dictates an equal an opposite amount of pain. The hand is just.