Monday, August 15, 2011

Foreign Debt Holdings Decline In Slow-Motion Run On Dollar

Foreign investors' willingness to continue playing the role of fix provider to Uncle Sam's debt addiction is now being tested.  The Capitol Hill debt theatrics and ongoing postponement of real responsibility are giving foreign bond buyers reason to reduce their Treasury bond purchases

My fellow Americans, our time on the mountaintop is ending.  The coming run on the dollar can't be abridged by another round of quantitative easing.  It will require lifestyle curtailments and lowered expectations from every citizen who is not among the top 2% of the income ladder.  Get ready.