A little odd, I suppose, to crank out one of these posts on this holiday morning, but I awoke last night in the middle of the night (it may have been cat-related; they are nocturnal hunters, you know, even if the prey comes in a can) and something occurred to me that may be worth passing on (and "passing on" can be taken in either the transmittive or dismissive sense).
November 26, 2009
November 24, 2009
"There is another side of this Japan story that makes the idiocy of the deficit scare stories even more apparent. According to the deficit fear mongers, the dollar has been falling in recent months because investors are becoming increasingly worried about the U.S. government's ability to pay off its debt. But one of the currencies that the dollar has fallen against is the yen. Are investors who are worried about the U.S. government's ability to pay off its debt selling dollars to buy the bonds of the Japanese government, which has an even higher debt burden?"