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http://www.kitco.com/ind/willie/jul222010.html
Does this article have any merit?
Willie makes three points.
1. for two years treasury issuance has exceeded federal deficit spending by a non trivial amount.
2. The UK has bought 170B of treasuries over the last 5 months, seems improbable.
3. The "Household" sector has bought 500B of treasuries over the last year. once again seems unlikely.
Is this just a counting error on Willie's part?
Does this article have any merit?
Willie makes three points.
1. for two years treasury issuance has exceeded federal deficit spending by a non trivial amount.
2. The UK has bought 170B of treasuries over the last 5 months, seems improbable.
3. The "Household" sector has bought 500B of treasuries over the last year. once again seems unlikely.
Is this just a counting error on Willie's part?