The Fear and Greed of Strangers October 1, 2004 Dear Investor: Some have said that the U.S. economy is a Blanche Dubois economy in that we depend on the “kindness of strangers.” This is a reference to the continued purchase of our Treasury bonds by foreign investors, the results of which are relatively low yields amidst deficit financing. The reality is that such strangers are less inspired by kindness than by fear and greed. The implications...