Shuttersparks

Welcome to my musings on whatever topic catches my eye, plus stories, recipes, handyman tips, welding, photography, and what have you. Oh, and analog/digital hardware design, and software. Please comment on the blog post so everyone who visits can see your comments.

Day: January 8, 2009

Cheney says no one saw financial crisis coming??

Really? I guess Mr. Cheney has not been reading my blog and thousands of others. How come we all knew and they didn’t? Stupidity? I doubt it. Cheney is a very smart guy. Intentional? What other explanation is there?

(Yahoo news story and interview no longer available.)

Cheney said that “nobody anywhere was smart enough to figure it out.” Is that so? I guess I should consider that compliment but I don’t. Anyone with a knowledge of history and economics could see it coming more than 10 years ago. You can’t borrow and borrow (in other words, print fiat money) without limit without it coming back and biting you. The same is true for countries as it is for individuals.

China Losing Taste for U.S. Debt

I like being right but sometimes I wish I wasn’t. Last March I wrote a couple of posts about what I foresaw for the U.S. economy. Now another piece of the puzzle that I discussed is coming to pass:

China Losing Its Taste for U.S. Debt
http://www.nytimes.com/2009/01/08/business/worldbusiness/08yuan.html?th&emc=th

Here’s the post I wrote back in March 2008

Slow Motion Train Wreck
http://shuttersparks.blogspot.com/2008/03/slow-motion-train-wreck.html

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