gmallast Wrote:
Feb 25, 2013 2:25 PM
Frankly, the people who are buying Treasuries are d**n fools in the face of the government's present fiscal irresponsibility and the Fed's out of control money expansion. They will crash. I lost my old copy of Wealth of Nations so I cannot find where I marked it, but Adam Smith warned something to the effect, "Whenever government having contracted a debt, it is scarce known in history for it to be honourably and in full." I avoid government debt like the plague.