(snip)"These are just the rollover requirements for the United States and do not include NEW BORROWING of $1.6 TRILLION. So, a total of OVER $3.5 Trillion is required, providing that the deficits are as projected by the CBO (are they ever accurate?). That’s almost $300 Billion a month, or $10 Billion a day (10,000 million a day). Mind numbing numbers! Inconceivable sums. "(snip)
(snip)"now let’s look at NEW issuance to cover 2010 DEFICITS from
This is called INSANITY. Only India, China and the emerging world are growing in REAL terms, the rest of the borrowers are DEADBEAT welfare states with shrinking incomes and economies, when properly adjusted for inflation. How the US and Europe are going to navigate the rest of the year without some MISHAP is inconceivable. That will be the appearance of the “when HOPE to FEAR” moment we are looking for in 2010."(snip)
from with many thanks to Reggie Middleton
~





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