Now we've got the government trying to sell a quarter of a trillion dollars in debt over the next week . . . !"HOLY !@#!! Treasury Auction Schedule." Karl Denninger, The Market Ticker, 7/23/09.
This is flat-out insane. At this run rate we would be trying to sell twelve trillion dollars over one year's time, an obviously ridiculous and impossible-to-peddle amount of debt at any price.
When does the rest of the world wake up (not to mention the primary dealers) and say "NO!"? Never? Is there a truly insatiable demand for our government's debt, despite the fact that President Obama got up on the national stage last night and promised to spend another trillion dollars we don't have?
A blog about Islamic intolerance and fanaticism; socialism; communism; government stupidity; and lying weasels everywhere, hopefully couched in vibrant and literate English and foreign words that make us look good.
July 23, 2009
Always a buyer for our government debt?
Why do I think watching the Dems "manage" the economy is like tuning into a never-ending episode of "Romper Room"?
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