The elephant in the room is going to pop.
Wednesday, November 26th, 2008United States sovereign debt, a.k.a. treasury obligations, likely is the last great bubble. ‘Tis a monster to be sure. Would you want to buy the debt of an insolvent country? Apparently, world central bankers and sovereign wealth fundies think slower than people with common sense. But they will gradually conclude that continuing to support us through purchasing or holding our debt is a fool’s game.
Welcome to the United States of Bananaland. Have you ever smelled the pachyderm hall? Get used to it.

















