Monday, April 20, 2009
Another "must read" from James Hamilton.
This is the follow up to last week's insightful piece on the Federal Reserve. Note with interest the following: 1. It would take a doubling of your taxes for one year to repay 1 trillion dollars of deficit spending and 2. Only five corporations currently can issue AAA-rated debt. They are Automatic Data Processing, Berkshire Hathaway, Exxon Mobil, Microsoft and TIAA-CREF, the lowest number since inception in 1909. Read it for yourself and leave smarter than you came.