Sunday, June 8, 2014

Skyrocketing Chinese Late Payments & A Global Meltdown

I agree with Pento's logic on sovereign bond yields at or near record lows due to the bond markets forecasting anemic economic growth.  But I disagree with his mainstream idea that the later stages of Clinton's presidency yielding budget surpluses.  Yes, the economy was growing, but the US government still ran deficits--and surpluses were only possible due to accounting and the pilfering of social security.  In other words, if the US were truly running surpluses during the 1998-2001 years, the national debt would not have increased during those years.  Yet, it did.

I will provide details on Clinton's alleged budget surpluses in the next blog.

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