Even if you're bearish on the global economy, or expect hard deflation, the pay-off in betting large on US government bonds seems particularly unattractive at this point.
The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own.
Monday, October 10, 2011
Just how stretched is the 10y?
Even if you're bearish on the global economy, or expect hard deflation, the pay-off in betting large on US government bonds seems particularly unattractive at this point.
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Lunch is for wimps

It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.
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