Surge by numbers
Political jawboning aside, what do investors - i.e. people who can make and lose money based on reality - think about Bush’s surge? Not much: “As for the investors, the data shows that the chance the Iraqi government will default on its debt has increased by 40 percent since the surge,” says Portfolio.com’s Odd Numbers blog. “That’s hardly a vote of confidence.”
The basic idea is that the price of Iraq bonds - debt issued by the government - has gone up since the surge, indicating that investors think the bonds are now riskier.
Hard to spin that one.
daniel silliman wrote:
Not really harder to spin that one than it was to spin everything else. Investors clearly are just not comitted to Iraqi freedom, and our president won’t let anyone tell him freedom’s a bad thing.
Posted on 19-Sep-07 at 7:00 am | Permalink