Economy: 'What's really going on...'


	Economy: 'What's really going on...'

kmcolo

5-29-2007 7:15 AM

625 views

tags:

economy, markets, stocks

kmcolo says:

"it's reckless"

1 Comment |

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5-29-2007 8:56 AM

Socratoad

The expression "economic suicide" readily springs to mind.

Damn sad, and disturbing.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/6cbeed64-2852-4913-807e-1332a80922c1/C3F85B42-2DDB-4BA6-957F-F269F2FC085A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.hussmanfunds.com/wmc/wmc070529.htm" href="http://www.hussmanfunds.com/wmc/wmc070529.htm" style="font-size: 11px;">www.hussmanfunds.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.hussmanfunds.com/wmc/wmc070529.htm"><P class="largeText">What's really going on is not the creation of “global liquidity” – central banks worldwide are generally tightening. What investors have misconstrued as “global liquidity” is nothing but a combination of a) risk blindness among investors, and b) the U.S. going deep into debt to finance current consumption (both private and government spending), while China and other developing nations run huge surpluses to sell us that consumption. They then take the proceeds and buy a) Treasury securities, and b) our means of production. Piece by piece, we are selling off productive assets and claims to our future income, in return for present spending. That's not liquidity – it's reckless, voluntary subjugation of our future prosperity. Indeed, China recently agreed to buy a chunk of Blackstone Group, and its government is establishing additional means to invest its surpluses by purchasing U.S. assets.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C3F85B42-2DDB-4BA6-957F-F269F2FC085A/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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