Monday, October 13, 2008

some people say credit bubbles are the cause of our problems


coming up from the florida sun...



on the daily reckoning they have this to say:

" You will recall, dear reader, that an old Louie lost his head after the debt of France's monarch topped 80% of France's GDP. Seymour Durst put up a 'debt clock' in New York to keep track of the U.S. debt. When he put it up, the U.S. national debt was only $2.7 trillion. That was in 1989. Not even 20 years later and the debt has topped $10 trillion - forcing the owners of the debt scoreboard to add another digit. U.S. gross domestic output is about $13 trillion - and falling. This puts the national debt at 77% of GDP…and rising fast."


"The Fed Fed Releases Flood of Dollars, Market Rates Fall"
at Bloomberg

"The Federal Reserve led an unprecedented push by central banks to flood the financial system with as many dollars as banks want, backing up government efforts to revive confidence and helping to reduce money-market rates."


recommended reading: by adam fergusson

these four or five random things are posted without further comment...


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