Ten Things For 2010
May 15th, 2010Via: Market Ticket:
Yes, I expected the game to end in 2009. I did not believe that our government could sell a net $1.5 trillion of new issuance (debt) for more than a year or so, nor could they roll over some $600 billion every month to keep the Ponzi going for long. They got away with it for two years, one more than I thought they would, but now cracks are appearing in this facade globally, not just here in the US.
The “powers that be” have done a fine job of trying to give the appearance of solvency. But you can’t create solvency where it doesn’t exist, and appearances don’t last forever. We are now in the phase of this mess where recognition of the Ponziconomy of the 2000s is showing up not in bank stocks (bad) but in nations (ruinous.)
Research Credit: dagobaz
