The financial tsunami is already on its way. That is why the central banks have intervened on a massive scale to support the dollar, so that the tsunami will hit the economy a little later.
Asking a totally broke government to buy assets is a interesting idea. And who will ultimately pay for any government spending? The taxpayers – like always – will have to pay for it, up to the point where they too will ‘fail’, but there will be no bailout for them – like always.
Sept. 4 (Bloomberg) — The U.S. government needs to start buying assets to stem a bourgeoning “financial tsunami,” according to Bill Gross, manager of the world’s biggest bond fund.