Saturday, January 01, 2011

"To the bulls and bears, we can now add the ostriches - those who bury their heads in the sand of declining debt service ratios while refusing to face up to intractable levels of total U.S. government debt. If these ostriches were to actually look at the numbers, they would realize that it is their investments which are made of sand... These ostriches won't poke their heads up to see the writing on the wall: low rates and quantitative easing cannot coexist for long. As rates continue to rise, the reality of U.S. insolvency will be revealed."
- Michael Pento, Europac
his response to Paul Krugman & Brian Wesbury:
http://www.europac.net/commentaries/rising_rates_reveal_debt_reality

No comments: