The Fed did the right thing yesterday...
BECAUSE DEBTOR NATIONS HAVE TO SUPPORT THEIR CURRENCY.
The notion that "the world" will support the US PORK SPENDING IN THE SOUTH is just a little wishful thinking...
And it's amazing how quickly the RED STATE REPUBLICANS have FLIP-FLOPPED INTO BEING BIG SPENDERS...all at the expense of BLUE STATE TAXPAYERS!
A flip-flop worthy of John C Calhoun or Henry Clay to be sure!
But with the so called Bubba Conservatives now BIG SPENDERS...WHAT CHOICE DID GREENSPAN HAVE?
THE AMAZING THING IS THAT THE BOND MARKET HAS HELD UP HAS WELL AS IT HAS!
GREENSPAN NOW FINDS HIMSELF IN THE WORSE OF ALL POSSIBLE WORLDS...A WEAKENED CURRENCY DUE TO MASSIVE SPENDING AND DEBT...AND CONSUMER THAT IS MAXED UP...AND A BOND MARKET THAT IS POISED TO CRASH WITHOUT NOTICE.
HE HAD TO RAISE RATES JUST TO BRING SOME HOPE OF STABILITY INTO THE SYSTEM IN WASHINGTON THAT IS FRANKLY SPIRALING OUT OF CONTROL...ALL THANKS TO DUBYA AND THE SOTHERN BUBBA REPUBLICANS WITH A LITTLE HELP FROM THE INTERNATIONAL CAPITAL "LOOTERS" ON WALL STREET...
