Written by Pacific Investment Management Company (PIMCO), the world’s largest manager of bonds, hasjust released research analysis titled: “Saying No to Keynes and Fiscal Folly”. The report is a dramatic departure for PIMCO; who had fully embraced the Keynesian “pump priming” economics of stimulus spending, bailouts, and corporate interventions. But with the American public now opposed to [...]
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Is America on the Verge of Another Credit Crisis?
Late yesterday afternoon the highly respected credit rating firm, Moody’s Investor Services, officially warned that if there is no imminent progress in Congress on the debt ceiling fight, the United States of America’s Aaa credit rating would be cut. Understanding that such a draconian event as a U.S. credit downgrade would infuriate voters, it should not [...]
READ MORE »JAPANESE EARTHQUAKE IS TRAGIC; DEBT TSUNAMI COMING IS WORSE
The earthquake and tsunami that struck Japan on Friday has caused tragic devastation to lives and property, but Japan may soon be over-whelmed by a debt crisis tsunami of epic proportions. With crony deficit spending by the Japanese government having destroyed its economy over the last two decades; Japan now has a real national crisis [...]
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