Monday, December 21, 2009

Lightning Round - 122109

Time is short:
  • Anytime something scandalous is happening, remember the most important "lesson of Watergate": Follow the money.
  • So they were trying to take on that AGW thang at Copenhagen, right? Sure they were.
  • And remember: when we follow the money, it's important to remember where the money is coming from. And since we're talking about money, here's the money quote:

"The United States cannot force foreign governments to increase their holdings of Treasuries," Zhu said, according to an audio recording of his remarks. "Double the holdings? It is definitely impossible."

"The US current account deficit is falling as residents' savings increase, so its trade turnover is falling, which means the US is supplying fewer dollars to the rest of the world," he added. "The world does not have so much money to buy more US Treasuries."

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