2008-08-23 — nakedcapitalism.com
"Weirdly, despite the appearances of a credit crunch, the flow of fund stats as of end of March showed that US debt outstanding was still increasing, and on a near vertical trajectory. The continued indulgence of our friendly foreign funding sources is a big factor (Brad Setser has called it the quiet bailout, and it comes so far to about $1000 per capita. Yikes). So the real squeeze has yet to begin. "
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