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[gotmilk]

substitute "debtor economies" for "emerging market economies."

The current fiscal and monetary plans of the Obama administration arrogantly assume we can print unlimited amounts of dollars and borrow unlimited amounts of money to solve this economic crisis; meanwhile, the history of the world would suggest that you can't. "On the other hand, one would be wise not to push too far the conceit that we are smarter than our predecessors". I continue to watch the charts of long term U.S. Government Bonds and the $ Index. If these simultaneously start failing the next leg of the financial crisis has begun. The biggest ponzi scheme of all the $U.S. and U.S. Treasury Market will have begun to unravel. "A probable explanation for the more severe contractions in emerging market economies is that they are prone to abrupt reversals in the availability of foreign credit." Given what happened to Great Britain this week, I think it is fair to substitute the phrase "debtor economies" for "emerging market economies."