Go find a chart of lending in China. While you’re at it, go find a chart of U.S. treasury consumption by our commercial banks.
Did you know that Japan’s debt is 200% of GDP? Did you know that 90% of it is funded internally? Think about this for a second, for we are about to go down the road of Japan, via our retarded monetary policy. If you are a bank, why would you ever lend money to Joey Bag O’Creditcards, when you can buy Treasuries, virtually risk free, and grab a big fat spread?
Well, that’s exactly what is transpiring today, as evidenced by the data.
All of you fuckers are worried about financing the deficit. I’ve been telling you all along: the American deficit will be funded by the American people.
Get in the vortex.
As an aside, Germany is starting to sound like they’ve had enough of being the EU’s piggybank. Coupled with Obama’s plead for Germany to spend more, this years g20 meeting should be interesting.
Scotty Bleier has been telling you for months now: we are Japan. Indeud we are. What part of vortex don’t you get?
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