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US rates can climb to 9%: China’s former central bank adviser Yu Yongding provides first warning to Geithner that China plans to abandon US Treasury
US rates can climb to 9%: China’s former central bank adviser Yu Yongding provides first warning to Geithner that China plans to abandon US Treasury
Sam Adelton
The bond market has started collapsing and will eventually take the stock market with it. The ten-year notes collapsed today and rates went 0.25%. The ten-year notes are at 3.73% and can be as high as 9% very soon.
The bear market rallies are ferocious. This is no exception. The borrowed money is again creating the bubble. This time it’s the Government that borrowed. The next wave down it will be the Government that will go down first and take the rest of the economy with it.
China’s former central bank adviser Yu Yongding provides first warning to Geithner that China plans to abandon US Treasury. That is the first fundamental sign that the US Treasury market can be in deep trouble.
The higher rates will create the real depression. The inflation will not moderate as manifested by the gold and oil prices.
It is interesting that as Citi Group and GM is scrapped as bankrupt companies, the Dow Jones Industrial Average rises close to 3%. Bear rallies do not follow fundamental. It is just a bear killer.
BIZ/FINANCE ARTICLES
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