Yes, I well know what he said

Was in the middle of it at the time.

You could get me started on a long conversation about what bond investors actually do and don't want from fiscal policy. There's a lot of confusion about this (from your posts before I think you know this more than most). Lenders don't want stupidity - but that cuts both ways, including not wanting mindless growth-suppressing austerity, as well as not wanting profligacy.

I *think* (although I don't know for sure) that Burnham was really talking about the former - and if you talk to bond investors, a lot of them would agree him, if so.

Posted By: Tricky Hawes, May 14, 20:53:17