(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

[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.