Posted by Larry Doyle on October 16th, 2013 9:55 AM |
Regardless of where you fall along the political spectrum, you can rest assured we will all pay ever increasing costs for the dysfunction on display in Washington.
Some may discount that reality and think the political power plays properly executed trump the costs incurred. I can assure you they do not.
Who holds the ultimate trump card in the current rendition of Washington’s political game of chicken? The bond market. And who especially within the bond market? Foreign holders of dollar-denominated assets. And who is the biggest holder? The People’s Republic of China. Let’s navigate eastward and get some insights on what folks there think about our dysfunctional government: (more…)