06 January, 2009

And Furthermore

In case anyone was wondering why I will never ever stop laughing myself to death over the idea that Cons are better for the economy than Dems, here's a hint:

Republican Policies Spread Results Worldwide

Remember when they explained to us we needed to have the Republicans in charge "because they're good with money"? Remember how excited the Villagers were about having a Harvard MBA president? Ah, good times!

The deep river of private money that helped knit together the global economy has abruptly dried up, new government figures show.

As the global financial crisis grew more severe this summer, foreigners sold almost $90 billion of U.S. securities — the greatest quarterly fire sale by overseas investors since the government began keeping track in 1960. U.S. investors also are retrenching; they unloaded about $85 billion worth of foreign holdings in the quarter, says the Commerce Department's Bureau of Economic Analysis.

"We've had a global panic. Everyone is pulling their money home," says economist Adam Posen of the Peterson Institute in Washington, D.C...

What's left of it, anyway.

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