Monday, May 04, 2009

Who will buy?

Kaus incredulous at Rahmbo's boastful quote on Chrysler. Now we all own this lemon. Why would we personally buy such a car? And will the Obama administration send their bully boys around to make us? 

Meanwhile, even the NY Times is worried that the Obama administration's borrow and spend track is unsustainable:
As the Obama administration racks up an unprecedented spending bill for bank bailouts, Detroit rescues, health care overhauls and stimulus plans, the bond market is starting to push up the cost of trillions of dollars in borrowing for the government.

Last week, the yield on 10-year Treasury notes rose to its highest level since November, briefly touching 3.17 percent, a sign that investors are demanding larger returns on the masses of United States debt being issued to finance an economic recovery. [snip]

Then there is the concern that the interest the government must pay on its debt obligations may become unsustainable or weigh on future generations.
Who will buy? Who can afford it? In Obama We Trust?

P.S. Related--The American Spectator questioning Uncle Barney Frank's vision on systemic regulation--because he did such a great job.

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