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Reaping Where We’ve Sown

29 May 2009

It’s unfortunate that Bloomberg uses the connotation-heavy term “vigilantes” to describe bond investors.  But markets have a way of going over the politicians’ heads to convey information about investment risk and their perceptions thereof.  This article suggests very strongly that the free-spending ways inaugurated by Bush 43 (of which we have been very critical in this space), exacerbated by wartime spending on the military, and then taken on afterburner to nosebleed heights by the Axis of Profligacy (Obama, Geithner, Pelosi, Reid), are coming home to roost in the international marketplace.  

No surprise there.

qb

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