John Bayard Taylor Campbell geht ein Licht auf

Der republikanische Kongreßabgeordnete für Kalifornien John Bayard Taylor Campbell III (also 3.0) kann mit Fug und Recht als "Finanzexperte" bezeichnet werden. Lt. Wikipedia und seiner eigenen Kongreß-Homepage ist bzw. war er bspw. ein "Certified Public Accountant, Kleinunternehmer, Steuerberater, Automanager und vieles mehr:

"...As a member of the House Committee on Financial Services, he has taken an active part in addressing the country's top economic issues, including mortgage lending, corporate governance, banking reform, and insurance regulation. Through the recent economic crisis, he was influential in the responses to the crisis that averted a collapse in our markets and economy. Currently, he serves on the Capital Markets and International Monetary Policy subcommittees"....
...
"....Often called upon to offer his economic expertise, John appears regularly on CNBC, Fox News, Fox Business and Bloomberg TV. His editorial submissions are also featured frequently in print media such as Investor’s Business Daily, Washington Times, London Daily Telegraph, and the Orange County Register..."

Quelle: http://campbell.house.gov/index.php?option=com_content&view=article&id=1036&Itemid=37

Heute bloggt der gute John Campbell zum Thema "Treasury Bonds" und berichtet, daß er letzte Woche etwas gelernt habe:

"I learned something last week. I learned that fully 40% of the over $9 trillion in Treasury debt currently outstanding to the public has a maturity of 3 years or less. Put another way, it means that we are rapidly approaching $4 trillion in U.S. debt that matures by 2014 or sooner. As I write this, the yield (interest rate paid) on a 2-year Treasury note is 0.645% or about 2/3 of one percent. The yield, at the same time, on a 10 year Treasury note is 3.4%, and on a 30 year is 4.55%. In bond parlance, this is called a "steep yield curve" where interest rates get much higher as you go farther out in time."

Nicht, daß ich die Zahlen hätte exakt aus dem Ärmel schütteln können, aber das Grundproblem in seinen ungeheuren Ausmaßen ist mir durchaus bekannt und ich wundere mich sehr, daß ein fachlich auch noch spezialisiertes US-Kongreßmitglied offenbar erst letzte Woche die Zusammenhänge realisiert hat.
Aber die Erleuchtung des dritten John Bayard Taylor Campbell, seines Zeichens Repräsentant des 48sten Distrikts von Kalifornien geht noch viel weiter:

"What does this all mean? I understand that the Fed and the Treasury are trying to keep interest rates low and improve the economy and the deficit. But, when coupled with the huge deficits, these moves look a bit like a Ponzi scheme that will soon unravel...
...In the period between 2005-2007, we were sowing the seeds of the 2008 financial crisis through too much leverage in the private sector. But, very few people could see it coming. Today, we are sowing the seeds of another crisis with too much leverage in the public sector. This time, though, it's easy to see it coming."

Welcome to Reality, Mr. JBT Campbell.

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