Nov 14, 2011

Quote for the day

"If the world succeeds in coming out through the other side of this crisis, you should expect to see even more countries joining the perpetual surplus brigades leading to even more demand for safe dollar denominated financial assets. That, in turn, means either big U.S. budget deficits or else some bold new innovations in financial engineering to meet the demand." --Matthew Yglesias, in yet another reminder of the fact that for every creditor there is a debtor.

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