Quote of the Day

What the Greeks discovered you are fine until you are not fine with the bond market and if you have a non-credible fiscal strategy of borrowing a $1 trillion a year for the rest of time, never ever again running a balanced budget, at some point the markets are going to get spooked, and I think that point is nearer than Paul Krugman believes.
--Niall Ferguson at http://www.zerohedge.com/article/niall-ferguson-if-obama-administration-listens-paul-krugman-it-would-lead-imminent-debt-cris