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Thursday, June 18, 2009

3 Wood: GOD Help Us!

A record amount of treasuries will be sold next week.

Treasury to Auction $104 Billion In Debt Next Week, a Record

"The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world's largest economy.

The sales will exceed the previous record of $101 billion set in auctions that took place in the last week of April and consist of two-year, five-year and seven-year securities. That record was matched by another $101 billion week in May.

Though next week's total was broadly in line with expectations, worries about supply have weighed on the U.S. government bond market, which will see a mammoth $2 trillion worth of new debt issued this year."
For the rest of our lives, and those of our children, the Treasury Department and Federal Reserve will have to orient everything they do around having to finance this massive debt. It will dictate what we do with interest rates, and how much we have left over for other things like defense and education. We have sentenced our children and grandchildren to a life of paying for this debt with high taxes and a slow economy. We are going on a spending binge the likes of which the world has never seen before nor will likely ever see again.

This is truly generational theft going on here, and it's not done. Early estimates are the national health care planned by the Messiah will add $1.8 trillion to the pile of debt over the next 10 years.

God help us.
~ 3 Wood

There is only one Lawgiver and Judge,
the one who is able to save and destroy.
But you—who are you to judge your neighbor?
Now listen, you who say,
"Today or tomorrow
we will go to this or that city,
spend a year there,
carry on business and make money."
Why, you do not even know what will happen tomorrow.
What is your life?
You are a mist that appears for a little while
and then vanishes.
~ James 4:12-14

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