"Sooner or later a crash is coming. And it may be terrific."
Roger Babson, September 15, 1929
In stages. A break, a bull trap, a bust.
02 September 2008
Central Bank Purchases Of US Treasuries and Agencies Debt
Foreign Central Bank purchases of US Treasuries and Agency Debt (Ginnie, Freddie, and Fannie) through the NY Fed Custodial Accounts in 2008. (Thanks to Brad Setser for the graph).
Let us pray for those whose hearts are hardened against His grace and loving kindness by greed, fear, and pride, and the seductive illusion and crushing isolation of evil.
We pray that we all may experience the three great gifts of our Lord's suffering and triumph: repentance, forgiveness, and thankfulness. And in so doing, may we obtain abundant life, and with it the peace that surpasses all understanding.
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