TheFundamentals has learned that the USTreasury intends to borrow over $100 billion this week which is in addition to borrowing $65 billion two weeks ago. We appeal to all lenders with the following message:
If you have any money and you are thinking about loaning it to the US government, on behalf of the taxpaying, common sense based, over extended citizens of the US, please do not buy any more US treasury securities. We appeal to foreign and US banks, to money market funds across the globe and particularly to the governments of China, Japan and Canada. Please do not buy any more US treasury securities. The citizens of the US do not need any more of your money; it is only the politicians, bureaucrats and bloated public sector unionized employees who want your money. The taxpayers cannot afford any more debt. We have no idea how we will ever repay what you have already loaned us. Please do not extend any more credit to the US.
We know you would not provide an alcoholic with booze, would you? You would not provide heroin or crack to a junkie, would you? You would not sneak in high fat treats to Oprah, would you? Surely you would not loan your vehicle to Mel Gibson or Lindsay Lohan. You would not give OxyContin to Rushbo, would you? You would not give your credit card to your n'er do well brother in law, would you?
The taxpaying, over indebted citizens of the US beg you to follow in the footsteps of NReagan and, "Just say no!" No to Barney Frank (gads) and little Timmy Geithner (supreme scaredy-cat) and pudgy Larry Summers (failed academician); no to Ben Bernanke (fiscal promiscuity expert) and Nancy Pelosi (botox queen.) These people cannot help themselves. They cannot pass up an opportunity to spend, spend and spend. They are like gamblers in Las Vegas who are certain that the next bet will be a winner. If they lived on Long Island they would have been drawn to characters like BMadoff. They cannot pass up a sure loser. They can detect ways to waste money that would send common sense folks running home and locking their doors. They appear to be struggling with some crazy syndrome or mental illness that removes any concept of frugality or value. It may be that they were abused as children or bullied in the play lots of their private schools and they are now making up for their desperate insecurities with the substitution of US securities. We don't know. We don't care. Just keep your money. Spend it on your children and grandchildren. If you have to spend it, buy real estate in the US. There are some great deals right now. Please do not buy our bonds.
And, don't take any calls from the White House or its temporary occupant. If the WH or any of the above named want to come visit tell them that you will get back in a week or five months. Don't let them come visit because they will just beg you to buy more US bonds. Please keep your money.