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March 31, 2009
An Ominous sign
Topics: Political News and commentariesBloomberg via Mark Hemingway:
The U.S. government and the Federal Reserve have spent, lent or guaranteed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.So what happens should China decide to stop investing in U.S. treasuries? The economic fallout could be widespread, and perhaps even catastrophic.
Meanwhile, the Obama administration is spending money like there's no tomorrow - and if they're not stopped that just could be the case for America's economic future.
Posted by Richard at March 31, 2009 1:30 PM
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