The Great American Debt “Roll”

By Fred A. Kingery Courtesy of Center for Vision & Values Financial markets function to discount the future. Usually, by the time you read about something in the newspaper, financial market pricing has already "discounted" that event weeks, months, or perhaps even years before it hits the front page and becomes evident to everyone else. That’s what it means to “speculate. ” The whole world is beginning to seriously speculate that the Treasury is becoming a deadbeat borrower. Normally, ... Full Story