US Debt Crisis: What NOT to Do When Your Country is Broke
By Bill Bonner
11/01/10 Baltimore, Maryland – Another month gone by. Another month closer to bankruptcy.
Not you, dear reader.
We’re talking about the US government.
But hold that thoughtÉ
Let’s turn to the markets. Hmmm … Not much action. The Dow rose a piddly 4 points on Friday. Gold went up $15. Not much to talk about thereÉ
Investors are waiting to see what happens next week. They’re sitting on the edge of their chairs. Will Ben Bernanke play it cool? Or will he want to do something really big, bold, and bumbling?
We’re not as curious as most investors. We doubt that he will want to go too far in either direction. Most likely, he’ll do what investors expect … announcing more quantitative easing – money printing, in other words – but being a little cagey about how much, and when.
So, let’s turn back to the biggest bankruptcy of all time.