Tuesday, July 7, 2009
Will california start an avalaunch of USA Bond defaults?
Interesting article on the dowgrading of California's state bonds, this could feed through to other states and ultimatly UK bonds. At some piont the UK and US will run out of people willing to buy bonds and we will have to tax and cut. can governments do this before a crisis or are they incable until the they have run out of all other options. Will the next Tory Government engineer a false crisis like this to allow them to cut public spending and allow the rich to keep thier assets intact?