MUST READ: PONZI FINANCE
14 October 2009 by Cullen Roche
2 Comments
Excellent piece here from Hoisington Management on the current economic outlook and monetary backdrop:
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Comments
These guys are in line with what Steve Keen, Stiglitz, Marc Faber Nassim Taleb, and many others are saying. Even Richard Russell says it, when he states that nothing can stop a primary trend. This is like the BS of Global Warming, it takes time but eventually the truth comes out.
Japan’s interest rates remain low because they are financed from within Japan. America is at the mercy of foreigners. If the dollar declines further, interest rates will need to rise until American’s like me see US debt as a good value proposition.