Wednesday, May 25, 2005

America as Mr. Creosote

Bill Bonner comments on the problems with US debt and fiat currency, and how we are just expanding the bubble bigger:

"When one foreign loan [i.e., to the United States] comes due...other foreigners practically line up to refinance it; it is as if they were bringing pastries to an extremely fat man...just to gawk and wonder when he might explode."

So the financial situation of the United States is being compared to Mr. Creosote (WARNING: this link is to the text of [and some pictures from] a Monty Python skit which may offend people - there's a song that celebrates the male anatomy, and several scenes of projectile vomiting). Very interesting.

That is all.

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