Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Friday, July 27, 2012

Useful Stuff


I added some more useful links in the left hand panel of Volewica; two links to Wikipedia articles on debt.

Did you know that the US's public debt is over 100% of GDP?  Why aren't US bond yields where Spanish bond yields are?

Because the US has its own currency and a Central Bank which can print it.

All the ECB has to do to stop the Euro and the European crises is print money.  All it needs to do is say that it will buy Spanish government bonds to whatever extent necessary to keep yields from rising above, say. 6%.  Bam!  End of crisis.

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