Sunday, March 21, 2010

Have you heard the good news?

Speaking of our debts....

Obama Paying More Than Buffett as Bonds Show U.S. Losing AAA

That's slightly unfair. Obama looks to be the biggest single abuser of debt in the history of the world, but he's had many accomplices - about 200,000,000 of them.

Not that we're about to stop this madness. The elites have no idea what to do other than keep pumping out debt. Not that it will do any good. (Warning, I haven't checked the source data on this one, but it looks correct.)

In other words, the government has become our pusherman. They don't know anything but debt. What the fuck are they gonna do but hustle? Meanwhile

I.M.F. Warns Wealthy Nations about Debt

CR points out that Lipsky of the IMF also expressed the need for the rebalancing of global trade, although he was too much of a wimp to call out the Chinese when he had their ear. That leads to

Report: China Losing Support of American Business Community

The possibility of a trade war seems more real every day, although still somewhat remote at this point. The Chinese are saying we have the most to lose. They might be right, but they'd be fools to bank on it. We're fools to bank otherwise. Just because a trade war would most likely be foolish doesn't mean it won't happen. We're a nation of Buellers.

That low sound you hear from the horizon? It might be the sound of distant thunder. But it's probably the just the Piper playing a low note. And he's a lot closer than you think.