January 16, 2010
Forget Japan, look at America
Seen in passing at at blog in England, talking about imminent melt-down of Japan:
We all know that Japan has been racking up debt for Two Lost Decades, yet the sky has refused to fall. Borrowing costs have slithered down to 1.36pc on 10-year JGBs and under 1pc on shorter debt, though they are not as low as they were .. nota bene. This seeming defiance of gravity has emboldened the Krugmanites and Keynesian prime-pumpers to call for a repeat in the US, UK, and Europe. There lies a great danger.
LOL, right? But look at what Democrats have done to American debt since taking over the purse strings in 2006. Forget the gray bars, they are over here. Red ones are here.
Posted by: Pete Zaitcev at
08:33 AM
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