Hey, you forgot about Jeff Winnig at Global Crossing, Bernie Ebbers at WorldCom, Martha Stewart, Dick Grasso, Dennis Kozlowski, Arthur Andersen, Adelphia, Xerox ( they overstated revenues to the tune of a mere $3 billion ) and a few others . . .
One point I forgot to make b4, is that rates can go lower from their present levels. Heck, rates can go to ZERO, believe it or not! 10 Yr in Japan is at 1.35 and here its 4.35. one last point, with everyone and their brother thinking/forecasting higher rates, isn't their a chance thier wrong? Just a thought
I wish we were as moral as China or Russia. Here we just pump up a POS stock. Over there they'll blow up your factory or poison the children's breakfast cereal that's sold by a competitor.
You can tell just by the way bond's snap back that they get oversold very quickly. There's a wall of investors waiting to snap up securities at 5 1/8 to 5 1/4 yields.
I don't really get into bashing the US for deficit spending, weakening dollar etc. etc. After all, it was deficit spending on the the world's most powerful military force that all but eliminated Communism from the planet. That accomplishment, in itself, is priceless, IMO. The fiscal and monetary challenges facing the US and the world today are trivial, compared to the alternative of answering to a Communist government or superpower. How easily we forget what all that $$ bought for the world in the first place. "General Secretary Gorbachev, if you seek peace, if you seek prosperity for the Soviet Union and Eastern Europe, if you seek liberalization: Come here to this gate! Mr. Gorbachev, open this gate! Mr. Gorbachev, tear down this wall!" Ronald Reagan http://www.reaganfoundation.org/reagan/speeches/wall.asp
I came across this article on the Dollar in The Globalist (not sure what to make of the mag). It suggests that policy might be related to what sort of Republican is in power. http://www.theglobalist.com/DBWeb/Community.aspx?FeatureId=110 Geo.
impressive. for your next trick, why don't you list some of the millions of people that do it right? Perhaps because it would take the rest of your life...
Good point. That is something to consider. If everyone is expecting rates to go up - if it's so obvoius -- that is when it usually isn't.