The debt-ceiling debate produced an enormous amount of disinformation and outright lies – much of it spewed by 0bama, through his numerous ‘news-conferences’ and ‘addresses to the nation’, that served to spook the little investors. My favored was, that if the ceiling is not raised, the interest rates would rise, all the while the yield on US treasuries’ was plummeting. The Wall-street does not like the deal because while it does little to reduce the size of the Government and spending thereof, it may hurt healthcare and defense industries. But the panic selling was started in Europe and Asia, and exacerbated in the US – in direct reaction to the Europeans’ acknowledging that the Greek Contagion is happening – Italy, with about 10x larger economy than Greece has been and continues to tether on the brick – threatening the solvency of all European large banks. I am not sure how, but the American uberintellectuals will sooner than later come up with a way of blaming Bush for the European financial crises.
The debt-ceiling debate produced an enormous amount of disinformation and outright lies – much of it spewed by 0bama, through his numerous ‘news-conferences’ and ‘addresses to the nation’, that served to spook the little investors. My favored was, that if the ceiling is not raised, the interest rates would rise, all the while the yield on US treasuries’ was plummeting. The Wall-street does not like the deal because while it does little to reduce the size of the Government and spending thereof, it may hurt healthcare and defense industries. But the panic selling was started in Europe and Asia, and exacerbated in the US – in direct reaction to the Europeans’ acknowledging that the Greek Contagion is happening – Italy, with about 10x larger economy than Greece has been and continues to tether on the brick – threatening the solvency of all European large banks. I am not sure how, but the American uberintellectuals will sooner than later come up with a way of blaming Bush for the European financial crises.