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Just How Long is the Road that the Can is Being Kicked Down?

Probably one of the more shop worn phrases to come out of the efforts to mitigate the effects of the global credit crisis has been "kicking the can down the road", implying that rather than directly address the issue of overdebtedness (both on a national level, as well as the private level), governments the world over have resorted to applying various band-aid solutions. (A close second in the shop worn phrase competition might well be "extend and pretend", although that seems to be more often reserved for banks holding loans of questionable quality, which are rolled-over, so that they needn't be tossed into the "non-performing" bucket).

Which lead me to start to wonder, just how long the road might be?

According to an article in MarketWatch, the road just might have gotten a bit longer. Or, at least, attempts are being made to lengthen it. At a recent meeting of primary dealers and the Fed, various options for new debt instruments were discussed, including:

"40-year, 50-year and 100-year bonds. Also mentioned were a pure inflation security, money-market floaters and GDP-linked bonds."

It would seem that the reemergence of the 20 yr. bond is not all that far off.


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.