Monday, February 02, 2009

"Serenity now, insanity later"
Stimulus now, $14,000 bill later.

3 comments:

Anonymous said...

Eric, do you ever read Peter Schiff (Crash-Proof)? Perhaps this is unwise, but I've basically moved all my retirement investments from U.S. to foreign markets based on his analysis.

Do you have any opinion of his work?

It's a little spooky how 'right' he has been about the advent of our economic crisis.

Anonymous said...

What makes anyone think foreign markets are safe these days? China's growth has tanked, European banks are about two euros ahead of ours, and Iceland is essentially in receivership.

Anonymous said...

I'll certainly concede there are some nations in as bad, or worse condition than ours: Argentina, Iceland, etc. But I think the fundamentals indicate their recoveries will be much more quick than ours.

The bottom line for me is that economic powers like China, Japan, Saudi & Great Britain own trillions of our debt. They're savers & investors, and we're debtors. And since 2003, we've seen a dramatic slow-down in foreign governments' willingness to invest in more T-bills and securities. When they see our government debating the vitues of floating yet another trillion dollars on the market, I've got to wonder, how do they think all this will end?