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Originally Posted by Butterfly  Quote: |
Originally Posted by bkkandrew It means exactly what my point was, so there was no need to highlight it. THERE IS TOO MUCH DEBT TO FUND. | that's exactly what I am saying, you completely missed the meaning of that section as you are demonstrating again above. The point was technical, as temporary imbalance in supply and demand for government securities. It doesn't mean at all there is too much debt to fund. These kinds of technical imbalance can happen many times, even there is no "crisis" in the background. You have no clue. As usual. |
Reading is not really your strong point, is it? You even quoted it in your post 1066:
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Originally Posted by Butterfly Quote: |
Originally Posted by bkkandrew “There was certainly a supply/demand imbalance because of the large amount of issuance in the last quarter of 2008 and the large amount due in the coming months. Before the financial crisis, German bond auctions just did not fail.” | you forgot to highlight that part, the likely scenario. Of course, you probably don't understand what that means. |
As you are keen on having things highlighted for you now, I will oblige:
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| and the large amount due in the coming months |
So, not just the 'past quarter' as you pasted into your last post, but the coming months - and if you look at various Governments' own projections for 2009 and beyond it is for the forseeable future. The UK, for instance, projects more than doubling of National debt during the course of the next 5-years. It is unprecidented, unfundable and madness to even try.