SHARED SACRIFICE

The President is urging a debt deal that "shares the sacrifice", but as the 2009 housing crisis was at its height, avg Americans were sold out in favor of the big banks. And when it came time for stimulus, $800B was used and still another 1.4 million jobs were lost.

http://prudentbear.com/index.php/creditbubblebulletinview?art_id=10554  Doug Noland Credit Bubble Report  on the Sovereign Debt Crisis

We are staring the abys right in the face. The Gov't uses funding costs of 2.5% for its projections! The market could force rates higher if it sniffs a default. Current 10 year yields are under 3%.

http://www.bloomberg.com/news/2011-07-11/german-10-year-bond-yields-approach-two-week-low-amid-italy-debt-concerns.html

Italian 10 year rates 13.38%. Portugal 10.71%. Greece 17.02%     Irish 2 year yields soared to 18%


In this country 2 year yields are at 0.37% YES 0.37%. The low on record is 0.34% !! The low at height of crisis in 2009 was? 0.74% !!!!!!!!!  we are 50% below that.....what does that tell you?

Duratek