BRIC countries (Brazil, Russia, India and China) are seeing a massive investor withdrawal from their investment funds. Meanwhile people are still piling into US Treasuries. Not trying to down emerging markets, but it stands as a bold example that when things are going crazy people still hide in the warm embrace of US debt. Because as bad as things may be here, they’re still better than everywhere else. Even Vladimir Putin has come forward and called the United States a “parasite” due to our increasing debt destabilizing the global economy WHILE he buys more of it. That’s like complaining about how fat our society has become while inhaling a dozen Krispy Kreme donuts between breaths.
Mmmmmmm. Krispy Kreme. Especially when they’re hot and fresh.
And in related news, gold settled at an all-time high yesterday as fear seems to be the top factor driving investment decisions in today’s market. So time to take grandma’s jewelry collection down to the neighborhood smelter and cash in! Her memory’s going anyway, so she won’t notice it’s gone.
No comments:
Post a Comment