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Black or White? 24 Aug 2013 | 11:57 pm
The following is a pic of a Malayan Tapir. Note the distinctive black and white markings of this animal. Now consider this picture of Bernanke’s taper. It too has distinctive black and white mar...
New Exciting Travel Destination for Young Americans? 6 Aug 2013 | 09:06 pm
I typed in “Exotic Destinations, Cheap Accommodations” and Yemen comes back as an alternative. To be sure, this is no easy VaCa destination, so old fogies should consider a different holiday destina...
Busted 4 Aug 2013 | 11:41 pm
- The Post Office has to come up with $5.6Bn by September 30 to pay for its share of health and retirement benefits. There’s not a chance in hell that this will happen. The PO has just 4 days of ope...
Trillions of Paper and a $1,000 Wager 14 Jul 2013 | 01:19 pm
Social Security is sitting on a $2.8Tn portfolio of T Bills and Notes. Take a guess on how much of that was ‘turned over’ (redeemed/acquired/matured) in June of 2013? $600 Billion! 22% of the nut we...
Agency Shit Storm 9 Jul 2013 | 08:06 am
I’ve been waiting four years for a lawsuit against the government and its handling of Fannie Mae and Freddie Mac. Perry Capital, a hedge fund who has invested in Agency Pref stock, filed the suit o...
On China: Engineers Build – Economists Devalue 1 Jul 2013 | 09:35 pm
I’m at a loss to explain what happened in the Chinese money system the past few weeks. Yes, the tip of the iceberg was the Wealth Management Products that matured in June. And yes, it’s likely that ...
TIP this 25 Jun 2013 | 04:44 am
The TIPS market has told an interesting story the past month. The implied inflation rate has collapsed. As of this morning, the market is pricing inflation at 1.94%%. A few month ago it was 2.5%. ...
On Bullying Friends 24 Jun 2013 | 04:05 pm
Lost in last week’s Taper Talk and generally bad markets was a development that I think has some legs. The Swiss Parliament basically told the US Department of Justice to fuck off. I’m very surprise...
On the Tapir 21 Jun 2013 | 07:36 am
So I was a party over the weekend. Some of us were on the porch sucking down Mojitos and talking money. Everyone had something to say about the Taper. It’s good. It’s bad, It’s too soon. It’s too la...
What’s a Fannie Worth? 5 Jun 2013 | 09:02 pm
How about Fannie’s stock of late? The low-high for May saw a 660%% swing. There were several days of +200Mn shares crossing hands. The stock fell off a cliff at $5.40 and 36-hours later it was back...
