Friday, May 29, 2009
It doesn't seem that it will take much to push the US over the cliff edge.
Bloomberg: Bond Vigilantes Confront Obama as Housing Falters
For the first time since another Democrat occupied the White House, investors from Beijing to Zurich are challenging a president’s attempts to revive the economy with record deficit spending. Fifteen years after forcing Bill Clinton to abandon his own stimulus plans, the so-called bond vigilantes are punishing Barack Obama for quadrupling the budget shortfall to $1.85 trillion. By driving up yields on U.S. debt, they are also threatening to derail Federal Reserve Chairman Ben S. Bernanke’s efforts to cut borrowing costs for businesses and consumers.
Posted by flintster1994 @ 02:41 PM (745 views) Add Comment
3 Comments
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1. uncle tom said...
The term 'Vigilante' is a singularly unkind word to describe someone you owe money to; to whom you should be grateful for fronting the cash at low interest.
But it is also typical of the broad contempt the Americans have for anyone who lives beyond their borders...
- I wonder how organised these 'vigilantes' are..
2. williammontague said...
Article already taken down from Bloomberg - saying story to follow soon. I wonder what is getting amended?
3. Elpapasito said...
Back up