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  • Debt ceiling? Not gonna happen [Edit or Delete]0 comments
    May 16, 2011 1:04 PM
    The new economy is here to stay and no amount of complaining will make it go away. Rich get richer, surging living expenses, globalization, scant job creation, massive gains in productivity, technology, and dwindling benefits for unemployed. More pain at the pump, college & healthcare costs through the roof, blowout earnings, limitless debt, huge gains in exports.

    The debt ceiling, fianlly? Don't count on it. Trump and George W. Bush's unpopular business policies of more spending, preemtive war, homeleand security, birth cirtificate, bank bailout is here to stay. All this costs money, obviously.

    From barrons:

    The 20 year treasury is ralling:

    the 10 year interest rate still refuses to budge even with record spending:^TNX&t=2y&l=on&z=l&q=l&c=

    This means the deficit is NOT creating treasury inflation, further strenthening the case for more government spending. Living expenses will keep going though the roof, but that does not matter to policy makers though because gas prices are supposedly volatile. The goal of economic policy in America is to make the market go up, keep the rich richer, make the earnings blowout, make the pie higher. So far it's working.

    Bohner supports pro-growth policy of more war, bailout, wiretap, and tax cuts for rich, so the spending will not relent. 

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