Wednesday, March 12, 2008

Depression #2

If the videos below didn't get you depressed this should. This is real.

http://www.bloomberg.com/apps/news?pid=20601009&sid=ajyFntRb3PgY&refer=bond

The risk of losses on U.S. Treasury notes exceeded German bunds for the first time ever amid investor concern the subprime mortgage crisis is sapping government reserves, credit-default swaps prices show.

and

``Support for troubled financial institutions in the U.S. will be perceived as a weakening of U.S. sovereign credit.''

I really don't know what to say. Just like every super power before us, Medes, Romans, Napoleon, British, eventually are time will pass. Nothing is new under the sun. I think we have some time left though.

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