Thursday, March 18, 2010

What a Friend We Had in Reagan?

Today is Thursday, 18 March 2010.

I’ve been waiting for The New York Times or The Wall Street Journal to write about the massive amounts of high-risk corporate debt coming due from 2012 to 2014.

“The result is a potential financial doomsday, or what bond analysts call a maturity wall. From $21 billion due this year, junk bonds are set to mature at a rate of $155 billion in 2012, $212 billion in 2013 and $338 billion in 2014.”

(Article at:

The additional problem in this situation is, of course, the projected supplementary borrowing, for years to come, by the Federal government, necessitated by the irresponsible tax cuts for the rich, misdirected and massive wasteful spending, and incompetent economic policies of the Reagan and Two Shrubs regimes, and the Republican Party. That borrowing could crowd out much corporate borrowing, or, at best, force corporations to pay higher interest rates. Small businesses could fare even worse.

So much for the myth that the Republican Party is the friend of business.


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