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Boeckh On The Return Of The Bond Vigilantes

Tyler Durden's picture





 

From the Boekch Investment Letter - Return of the Bond Vigilantes, The Great Dilemma: a must read for all those who think CDS is to blame for every problem in the world (h/t Leo Kolivakis) 

 


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Tue, 03/09/2010 - 10:42 | Link to Comment Whizbang
Whizbang's picture

So wait, is a "bond vigilante" the same thing as a "greedy speculator" it seems like they are the same, yet one is connotated positively and the other negatively. I'll have to think about this...

Tue, 03/09/2010 - 10:51 | Link to Comment doublethink
doublethink's picture

 

Quote of the Day

 

“Europe and America must say ‘enough is enough’ to those speculators who only place value on immediate returns, with utter disregard for the consequences on the larger economic system,” Papandreou said yesterday in a speech in Washington.

 

Utter disregard for the consequences? Like fudging your books?

 

Tue, 03/09/2010 - 11:29 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

This is a prime example of Newspeak, of financial extortion and terrorism. In essence, it's playing towards the collective survival instincts of artificial entities by essentially saying "While others may have screwed up, we're all in the same sinking boat. Like it or not, we either bail out the water together or die together."

This speech was not directed towards the individual but rather towards our artificial creations, aka "governments" and "corporations".

http://en.wikipedia.org/wiki/Newspeak

Tue, 03/09/2010 - 11:45 | Link to Comment doublethink
doublethink's picture

 

"The result has been a massive transfer of wealth, with its centerpiece the greatest theft from the public purse in history. This campaign has been far too consistent and calculated to brand it with the traditional label, “spin”. This manipulation of public perception can only be called propaganda. Only when we, the public, are able to call the underlying realities by their proper names—extortion, capture, looting, propaganda—can we begin to root them out." Yves Smith, ECONned

 

http://jessescrossroadscafe.blogspot.com


Tue, 03/09/2010 - 17:00 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"Only when we, the public, are able to call the underlying realities by their proper names—extortion, capture, looting, propaganda—can we begin to root them out." Yves Smith, ECONned"

We are quite capable to call the underlying realities by their proper names. But to do would mean that we must acknowledge what's really going on. Can't have that because knowledge implies responsibility. If I don't know what's going on, who's responsible, how to fix it, I can't do anything about it.

Victim hood is often a voluntary condition that enables us to avoid responsibility. Worse, if we were to actually do something about the situation and (God forbid) be successful, we might just be called upon to do it again and again. Can't have that now, can we?

"Don't get involved honey, let someone else do it. Hang back, someone else will eventually take charge. Why isn't someone doing something about this travesty?"

Why do we have the leaders we have today? Because only the liars, thieves and cheats are willing to step up. We only have us to blame folks.

Tue, 03/09/2010 - 10:55 | Link to Comment GlassHammer
GlassHammer's picture

"The Return Of The Bond Vigilantes"

 

Starring:

Kurt Russell

Val Kilmer

Sam Elliot

Bill Paxton

Tue, 03/09/2010 - 11:14 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Written by Turbo Tax Timmy

Directed by Baby Ben

Produced by Hank "Big Balls" Paulson

Tue, 03/09/2010 - 11:46 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Post A:

Return?  They have been here all along.  That's them over there, happy as hell, sucking on The Beard's liquidity water cannon. 

Post B:

Return?  They have been here all along.  That's them over there getting hosed down by The Beard and his liquidity water cannon.  Welcome to the riot.

Which post is correct A or B?

Tue, 03/09/2010 - 15:02 | Link to Comment House Atreides
House Atreides's picture

Tombstone.

How very apt.

Tue, 03/09/2010 - 11:18 | Link to Comment Oso
Oso's picture

doesnt matter.  BUY THE DIPS.  spreads can only tighten forever.  EQUITIES CAN ONLY GO UP!!!  Gotta dance while the music plays.  THERE IS NO CONSEQUENCE TO OUR ACTIONS!!!!!

Tue, 03/09/2010 - 11:40 | Link to Comment Oso
Oso's picture

see?  gotta buy the dips.

 

Also, bond vigilantes died a long time ago.  nothing left but incompetent idiots trying desperately to hang on to their jobs.

Tue, 03/09/2010 - 11:18 | Link to Comment Anonymous
Tue, 03/09/2010 - 11:21 | Link to Comment Anonymous
Tue, 03/09/2010 - 13:25 | Link to Comment merehuman
merehuman's picture

junked you by sublime accident. Monday was not a sell your country day.No auctions were on shedule.

 

Tue, 03/09/2010 - 13:40 | Link to Comment Anonymous
Tue, 03/09/2010 - 14:18 | Link to Comment fuu
fuu's picture

13 week was $26B and 26 week was $28B.

Tue, 03/09/2010 - 11:32 | Link to Comment doublethink
doublethink's picture

 

Hungry?

 

It's all about one question after all now, isn’t it? Who is the weakest link on the globe today that's worth going after? Like a pride of lionesses watching a herd of wildebeest, gazing through the long tall grass, patiently - but increasingly hungry- looking for the proper prey. The least risk and energy, for the most meat. As you know, for me, Greece never fit that description to begin with. Neither does Portugal, too small. Spain and Italy have strengths that will keep them standing for a while longer. Moreover, Europe has indicated it will protect its weakest for now, and nobody in their right mind places bets against Germany, France or Holland. At least for now. I'd look outside of continental Europe for minimum the next half year. I’d look at Indonesia, or Argentina, or California, or Anglia. But I’d be hungry.

 

http://theautomaticearth.blogspot.com

 

Tue, 03/09/2010 - 12:03 | Link to Comment Crummy
Crummy's picture

I just accidentally the whole bond market, is this bad?

Tue, 03/09/2010 - 14:33 | Link to Comment virgilcaine
virgilcaine's picture

3.65% is hardly  a vigilante rates.

 

Tue, 03/09/2010 - 14:53 | Link to Comment Fidel Sarcastro
Fidel Sarcastro's picture

Bond vigilantes are NOT back.  Why should they be?  Berwanker has guaranteed all debt.  There will NEVER be a problem with gvt debt he says...and the so-called vigilantes believe him, thus they are not back.

Thu, 04/15/2010 - 10:21 | Link to Comment mark456
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