Wednesday, September 17, 2008
'Kick in the Fannie'
I want you to read this. In my rummaging around the internet I found this article, Asia is About to Give the U.S. a Kick in the Fannie by William Pesek. You of course know why your children (US readers) are bailing out Fannie don't you? As I think I wrote in a screed recently it is because we would not dare piss off our #1 macro vendor financier, China. Your kids and my kids will bail out Fannie, Freddie, AIG, etc. so that the remnants of the global financial Ponzi scheme can stay stitched together. The article is from August, but I was pleased to see a mainstream writer hitting the nail on the head.