Sunday, 15 January 2012

BBB is the New Black

Any country flaunting themselves in last year's AAAs and even AAs is not looking good.  Lit up like the Ponte Vecchio (as the Florentines say of the over-dressed and over be-jewelled) these countries are most unattractive for long term investment.  You wouldn't, for instance, marry one, would you?

Printing money and buying your own bonds is not hard, but future generations won't like to be descended from such flash profligates.

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