(no subject)

[ebonlock]

Yikes:

As feared, foreign bond holders have begun to exercise a collective vote of no confidence in the devaluation policies of the US government. The Federal Reserve faces a potential veto of its rescue measures.

Asian, Mid East and European investors stood aside at last week’s auction of 10-year US Treasury notes. “It was a disaster,” said Ray Attrill from 4castweb. “We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed.”

The share of foreign buyers (”indirect bidders”) plummeted to 5.8pc, from an average 25pc over the last eight weeks. On the Richter Scale of unfolding dramas, this matches the death of Bear Stearns.

To which Bush responds with his usual, "Nothing to see here, move along." I feel so much better already.

Comments

[phillipalden.livejournal.com]

Bush and his people live in a different world - a crazy, fucked-up world, where they think that what they say will become the facts on the ground, like some imagined magic ability.

What's sad are the large numbers of Americans who still believe these people. Their manufacturing jobs disappear around them by the thousands, their children are dying in Iraq and Afghanistan or returning with terrible physical and mental scars, the price of gas keeps rising, the housing market implodes right in front of them - yet they still think the asshats running this country (on both sides of the aisle) know what they're doing.

I keep wondering how much it will take for these Americans to wake up and smell the coffee, yet as more things pile up they remain asleep. It truly astounds me.

[ebonlock.livejournal.com]

I'm just waiting for Bush to say, "We couldn't have foreseen this." Yeah I mean tax cuts for the rich and retarded lending practices in an out of control housing market...who could possibly have believed that such policies would blow up in our collective faces...

[kirylyn.livejournal.com]

or maybe they were hoping to keep playing the shell game until they were safely out of office, thus totally blaming the other guys.

pity they kept switching around the shells so fast, they wore out sooner than they planned, and they got caught holding the bag.

[ebonlock.livejournal.com]

Of course they've already started the new talking point, the economy is going to hell because the Dems are about to take over. Yes, they're really trying to make this one fly.

[ebongreen.livejournal.com]

I wonder a little more each day how the US economy differs from a pyramid scheme.

[ellid.livejournal.com]

Holy crap. Glad I went to Europe two months ago before the dollar really went down the shitter....

What a mess!

[ebonlock.livejournal.com]

Take me with you?

[ellid.livejournal.com]

I'll do my best to bring you in my suitcase the next time I manage to get over there...

*longs for Florence*

[ebonlock.livejournal.com]

You were in Florence? Man I was there in '92 and I'm still pining for it. Best. City. EVAR. I was only there for 24 hours but I fell completely in love.

[(Anonymous)]

I was there for a week in January, and yes, I fell in love. It is the most beautiful, magical city I've ever seen in my life. I swear could I almost see Lorenzo de Medici in the back roads and alleys....