axelrod608

Wall Street Breakfast: Must-Know News

Thanks, Jim Hawthorne for the url.

Y'know, there's an old saying, "fool me once, shame on you, fool me twice, shame on me" that must not be known in China. Are the Chinese still buying Treasuries ? Yes. Still putting money in US companies ? Yes.

This international finger pointing is as constructive and productive as the partisan fingerpointing in DC.

FINANCIAL RECKONING DAY and a host of similar books have been in print well over five years. Anyone who couldn't see this mess coming is either illiterate, ignorant or naively optimistic.

The US government fiscal policy is the greatest con game ever played. And the "regulators" let American financial giants play along. The end result has always been certain, though the date and time are not. Things that are inevitable, eventually happen.

No person, company or nation has ever spent its way to wealth and prosperity. Water's wet, rocks are hard and the sun rises in the east. This cannot end well. Yet it looks like the Chinese are in the game, playing their part now as in the past.

There's only one finger I point with about this whole federal financial mess.