On 2011-03-10, at 7:40 AM, Doug Henwood wrote:
>
> On Mar 10, 2011, at 7:31 AM, brad wrote:
>
>> And isn't QE2 winding down...
>
> It sure is. But then there are those big deficits. And who's going to buy all those bonds?
Not Pimco for sure, at least not until yields rise and prices drop so they can turn a profit. You'd think US rating agencies would downgrade US sovereign debt as routinely as they do for other countries on the basis of that move, but then Moody's, Fitch, and S & P are accountable to the SEC and Congress rather than to the Greek, Irish, and other foreign governments, no? :)