Thursday, May 6, 2010

I'm Psychic

Back in March of 2009 I said:

U.S. Govt Crowding Out International Borrowing

A while back I brought up the idea that the U.S. government was borrowing so much money that some other governments might begin to have trouble borrowing for their own purposes. The world has a finite amount of cheap capital, and with the amount of money that our government and several others are...borrowing to prop up financial firms and wager on Keynesian stimulus that the supply of those funds might dry up.
Now, the credit spreads for numerous European countries are widening.  The world is running out of money.

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