RE: [RT] Cost of the economic rescue so far, RealTraders Email List Archive

“when does the US government run out of money?”

When the Treasury holds an auction and nobody shows up to buy the bonds. Recently, Russia proposed that a new world currency be developed. Last week our fearless leaders arrogantly declared that any nation not meeting the US lofty standards embodied in cap and trade would be barred from exporting goods to the US. Within 4 hours, China shot back that if the US would not buy its goods, China would not buy its Treasuries. Game over. And then today, China proposed a new world currency that would be administered by the IMF. Clearly, China thinks the US is one great Maddof scheme. And it is. Why should a starving world subsidize a country that pays a lady in California to have 14 babies?

A report on Bloomberg last week questioned whether the developing world countries, which are the ones who have been buying our bonds (namely China) could buy $3T of bonds this next year. The answer was, if they were disposed and motivated to do so, they could only muster $2.3T in total. So, if accurate, it’s a countdown; the US will run out of money this year. I must be missing something because the Fed’s still pumping, the administration is still bailing out, and the market is skyrocketing. Heck, all these people might be missing a $ trillion or two. What’s a trillion between friends? Heck, its’ only a decimal misplaced isn’t it? I’ll get my checkbook.

From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Mark Simms
Sent: Monday, March 23, 2009 10:11 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] Cost of the economic rescue so far

Meaningless.

Meaningful: when does the US government run out of money ?

> -----Original Message-----
> From: realtraders@xxxxxxxxxxxxxxx
> [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Code 2
> Sent: Monday, March 23, 2009 3:44 PM
> To: Realtraders List
> Subject: [RT] Cost of the economic rescue so far
>
> With all the taxpayer money flying out the door, it's been
> hard to keep an economic rescue cost scorecard up-to-date.
> So check out
> http://money.cnn.com/news/specials/storysupplement/bailout_sco
> recard/index.html
>
> You can click on the various titles to get even more detail.
>
> The total spent so far is $2.5 trillion, with another $9.9
> trillion allocated for spending.
>
> --
>
>
>
>
> ------------------------------------
>
> Yahoo! Groups Links
>
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>
>

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