Business Insider has a nice piece out that "names names" on who went on the record with their interest rate bottom predictions prior to a pretty significant Treasury rally. Interestingly there is not one MMTer among these folks ;) .
Maybe now they would like to do a piece on who DID get it right on interest rates????
The monetary Brady Bunch.
ReplyDeleteHow in the hell did they leave out Peter Schiff??
ReplyDelete!!WTF!!
ReplyDeletewhere's "my" name..? "i've" been calling for soaring interest rates since 2002.
businessinsider sucks. thanks mike.
http://www.youtube.com/watch?v=lTzxt9BZd2g
SR,
ReplyDeleteRogers has been recommending selling Treasuries since the mid 90's when I first came across him in the media....
Rsp
"Maybe now they would like to do a piece on who DID get it right on interest rates????" ...
ReplyDeleteehh ... suspect that these clowns will still be sought for advice.
Past performance / future returns indeed.
Quite sad.
I was reading a terrific set of excerpts of the book "Gravity's Engines" (Caleb Scharf) the other day, highlighting the beauty and power of nature ...
unfortunately the next thing I clapped eyes on was "Blink! US Debt just grew by $11 trillion" by Kotlikoff, containing such gems as:
... the government would sooner renege on Chinese holding U.S. Treasuries than on Americans collecting Social.
.... Governments, like households, can’t indefinitely spend
beyond their means. They have to satisfy what economists call
their “intertemporal budget constraint.”
... The answer for the U.S. isn’t pretty. Closing the gap
using taxes requires an immediate and permanent 64 percent
increase in all federal taxes. Alternatively, the U.S. needs to
cut, immediately and permanently, all federal purchases and
transfer payments, including Social Security and Medicare
benefits, by 40 percent.
I was left pondering ... "what's the freaking point?"
apj