Market crash: are we there yet ? - Page 293

TropicCat · #**2921** (**permalink**) 11-21-2008

Japan economists call for ‘Obama bonds’
By Kosuke Takahashi

TOKYO -"Japanese economists, increasingly concerned that the United States might seek to pay its enormous and growing debt obligations in a weakened US dollar, are looking to the possibility of US Treasuries being issued in yen. "

____________________________

A very polite way of telegraphing there won't be any Japanese bidders at upcoming Treasury auctions. So, the question remains, who is going to step up and buy $1.6 Trillion of US Treasury bonds next year?

Any ideas on how we are going to finance this years Bush deficit if our number one bond buyer just told us to screw off?

I sure wouldn't like to be Sec of State next year and have to make this phone call.

"Sorry Taiwan, but we had no choice and had to sell your future to the Communist Chinese. You do understand, don't you?

No... we didn't actually get paid for selling you out. We..umm...well, we got to sell some bonds to the Chinese which we still have to honor and pay them interest.

You think it was a bad deal? Well, it's not US policy to make a profit on trade, you already knew that. We just applied our same trade policy to formulate our new betrayal policy.

Don't worry about it, you'll love being reunited after all these years.

Good Luck and let us know how it all worked out. Oh, on second thought, ...don't call us... we'll call you.

Oh... one more thing. About those new F-16's you ordered..."

___________________

OK, so this is sorry attempt at humor.

It's just that we all may be nearer than you think of sailing off into the sunset. If Treasury really can't sell US Treasury bonds, the bond market will implode. When the bond implosion comes, that will finish off what’s left of the real economy and Great Depression II will officially commence.

What a wonderful world...

sailhog · #**2922** (**permalink**) 11-21-2008

Rush "I'm a Frustrated Homosexual" Limbaugh is calling it the "Obama Recession" already. Is it possible to be more stupid and arrogant?

sailingdog · #**2923** (**permalink**) 11-21-2008

And I thought Sway was whacked... You do realize that W would have to bend the Constitution more than he already has to get a third term...

Quote:

Originally Posted by Cruisingdad

Personally I think all these problems are Obamas fault - from teh economy to the autos. If he had not of run and screwed thigs up, Good Ole George Bush could have had a third term and really set things straight!!!

- CD

sailhog · #**2924** (**permalink**) 11-21-2008

SD, I think CD was being facetious.

tdw · #**2925** (**permalink**) 11-21-2008

Quote:

Originally Posted by sailhog

Rush "I'm a Frustrated Homosexual" Limbaugh is calling it the "Obama Recession" already. Is it possible to be more stupid and arrogant?

Not sure Hoggett but I bet there will a few attempts over the next few months.

Tropo....as one not averse to poor attempts at humour I feel your pain.

Man, if US Treasury Bonds do tank then whoa mama we are in deep deep doodoo. Somewhere..maybe in this thread...I don't remember...there was a discussion about the USD no longer remaining the world's currency of record.

One wonders that if this did happen..what would replace it ? Being of a European cultural background I immediatley thought the Euro but maybe not.

TropicCat · #**2926** (**permalink**) 11-21-2008

Quote:

Originally Posted by sailhog

Rush "I'm a Frustrated Homosexual" Limbaugh is calling it the "Obama Recession" already. Is it possible to be more stupid and arrogant?

Do you really think Rush Whatshisname is stupid? He's Arrogant for sure but I think he's dumb like a fox.

Now, stupid would be a good word to describe his listening audience. Ignorant would be another good word. Then again, who else would spend hours a day listening to a pompous, has been, drug addict?

Good ole Rush depends on these people to make a living and they seldom disappoint him.

I still think people should have to pass a civics test to vote or run for office. Don't you think calling it 'The Palin Act' has a nice ring to it?

wind_magic · #**2927** (**permalink**) 11-21-2008

Quote:

Originally Posted by TropicCat

Japan economists call for ‘Obama bonds’
By Kosuke Takahashi

TOKYO -"Japanese economists, increasingly concerned that the United States might seek to pay its enormous and growing debt obligations in a weakened US dollar, are looking to the possibility of US Treasuries being issued in yen. "

If I were them I'd be worried too.

wind_magic · #**2928** (**permalink**) 11-21-2008

Quote:

Originally Posted by sailhog

So is Citi going go zero?

If zero is the name of a town or city in Saudi Arabia, then yes, maybe.

sailhog · #**2929** (**permalink**) 11-21-2008

The dollar has been on a tear lately... I'm assuming you guys don't think this is going to continue.

As far as Citi goes, why does it continue to fall off a cliff AFTER Sheik Mahamaomwomdmdksj kehjoakd bought one hundred million billion trillion iblillion jazillion dollars in stock? I believe he made the giant stock purchase two days ago. Citi's down some 35% since then.

sailingdog · #**2930** (**permalink**) 11-21-2008

When you're dealing with a mind as bright as CD's** is, you can't ever be sure...

Quote:

Originally Posted by sailhog

SD, I think CD was being facetious.

** equivalent of a 10 watt bulb with a broken filament.