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Think the word you are looking for was "heavy bathers" because that is what it's going to take to get the filth out of the market and system in general...
You had me at "US government bonds are not a bubble".
If banks will be buying more treasuries and foreign govs will be buying more to keep their
currencies in line and the Fed keeps rolling over the present balance sheet to buy, that should
allow the Fed to delay QE3 for a while.
Uber tactical asset allocation strategy 2011? Allow me to simplify:
Which, to make it simple, translates into more stimulus, monetary or otherwise. We'll also get more bailouts (even sovereign). And rates will be held one muon short of zero.
But the vicious side effects will also be amplified. All of which says that only gold will maintain it's value against an increasingly worthless buck and anything denominated in bucks. Look for a 20 oz bottle of soda to approach $5.
this report lacks optimism.
we are freaking doomed!
i try to tell people: you know all this fuking debt? yeah. well, it is growing so fast, if it ever stops we will run out of money to finance the debt! and even if it doesn't stop, we'll run out of money to finance the debt.
people think that is extreme...
this guy nails it! inspector cleusix: the pink panther of fixed income!
Transitory fixed income.
the world is starving for yield... so much so, that it will eat the equivalent of plastic rice (synthetic junk bonds) to get it..
Granularity really is an excellent word. Also, great post, thanks!
I don't need "guidance" for q-3. Ducks like granular FEED!
Jim Grant to add to the mix, very worth watching!
You should always post James Grant twice! He is fantastic!
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