>>>hopefully my TBT will pay off<<<
Should be already. The Greece fire should drive TBT down - flight to safety, first into dollars, and then Treasuries. But we see TBT up today. There are increasing rumors that Heli Ben will bail out Greece with a back door arrangement with the IMF. That should kill the dollar.
Could it be that common sense is finally taking hold? The Treasury auctions yesterday showed some serious cracks - not too many foreigners showing up, and Prime Dealers ending up with bundles. Also large fractions taken at the high bid (interest rate bid). See ZeroHedge for tracking Treasury auctions. Probably the most important thing to watch right now. Gold only about half as meaningful. All of that should send rates and TBT up.
Oh. Also the Fitch downgrade of Portugal might have started sovereign debt tumbling. After all, as far as banana republics go, the US isn't that much ahead of Portugal. Sorry. That may be an unjustified offense to the Portuguese.
I think that we all start to lose it as we age and perhaps get into conspiracy theories. It just may be that the one world movement is succeeding in bringing the US down to the level of all the other nations. You know - global equality in every aspect of our lives. We are destroying our economy through debt, entitlements, cars for clunkers, Government Motors, wars, carbon taxes, health care, and now perhaps a bailout of Greece. The US always prided itself on trying to lift other countries up - Peace Corps, etc. Since we couldn't achieve equality that way, it is probably time to get there by destroying the US. From each according to his abilities, to each according to his needs.
Query for the board: When California ultimately gets its bailout,will it come from Washington, IMF, or Berlin?
New Jersey governor Christe got tough with the unions, pensions, etc. |
