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Posted by cavelamb on January 31, 2010, 9:22 pm
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F. George McDuffee wrote:
> On Sun, 31 Jan 2010 15:45:59 -0800, "CalifBill"
>
>> On Jan 31, 1:39 pm, F. George McDuffee <gmcduf...@mcduffee-
>> associates.us> wrote:
>>> http://online.wsj.com/article/SB1000142405274870338900457503327353467 ...
>>> <snip>
>>> Trading in the credit-default swap market this week shows that
>>> investors now view a default by the U.S. Treasury as more likely
>>> than a default by the Coca-Cola Company. Until very recently,
>>> this scenario seemed about as likely as Coke winning a taste
>>> infringement suit against Coke Zero. Now the United States has
>>> taken its place next to Italy and Spain in a special club that no
>>> major country wants to join -- countries whose debt is considered
>>> less safe than that of Blue Chip businesses.
>>> <snip>
>>>
>>> Unka George (George McDuffee)
>>> ..............................
>>> The past is a foreign country;
>>> they do things differently there.
>>> L. P. Hartley (1895-1972), British author.
>>> The Go-Between, Prologue (1953).
>> Interesting.
>>
>> So what should the United States do?
>>
>> TMT
>>
>> quit over spending.
>>
> ============
> Recall the advice from the cold war.
>
> When you see the bright flash of light from a detonating nuclear
> weapon take the following emergency steps:
> (1) Face away from the blast.
> (2) Bend over and put your head firmly between your legs.
> (3) Kiss your ass goodbye.
>
> Remember that while there is enough time for Congress to
> investigate the College Football Championship System, the
> following critical items has not been acted on:
>
> I. Still no "super Glass-Steagall enacted preventing speculation
> with government insured deposits and preventing "self-dealing."
> Pension funds still exposed to looting.
>
> II. CFTC Modernization act of 2000 still not repealed.
>
> III. Still no "small enough to fail" size cap imposed on
> financial institutions, that have continued to grow over the last
> year.
>
>
Please pardon me for sounding like a broken record, George.
But there never will be.
The people buying off our politicians simply don't want
any such restrictions...
> Unka George (George McDuffee)
> ..............................
> The past is a foreign country;
> they do things differently there.
> L. P. Hartley (1895-1972), British author.
> The Go-Between, Prologue (1953).
--
Richard Lamb
http://www.home.earthlink.net/~cavelamb/
"The clock of life is wound but once, and no man has the power
to tell just when the hands will stop, at late or early hour...
Now is the only time you own. Live, love, toil with a will.
Place no faith in time. For the clock may soon be still."
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> <snip>
> Trading in the credit-default swap market this week shows that
> investors now view a default by the U.S. Treasury as more likely
> than a default by the Coca-Cola Company. Until very recently,
> this scenario seemed about as likely as Coke winning a taste
> infringement suit against Coke Zero. Now the United States has
> taken its place next to Italy and Spain in a special club that no
> major country wants to join -- countries whose debt is considered
> less safe than that of Blue Chip businesses.
> <snip>
>
> Unka George (George McDuffee)
> ..............................
> The past is a foreign country;
> they do things differently there.
> L. P. Hartley (1895-1972), British author.
> The Go-Between, Prologue (1953).