Friday, August 27, 2004
Even the capitalists know it's bad...
This is the Quote of the Day on CBS MarketWatch:
"What we're seeing is probably the greatest transfer of assets in history — out of the U.S. and to our foreign creditors. Over time this is going to mean a lowered standard of living for my kids and your kids, and if it happens quickly it will also mean a lowered standard of living for you and me." — Dow Theory LettersThis transfer, by the way, is not unrelated to Bush's tax cut and his war on Iraq.