Humpty Dumpty is sitting on the wall.....
I was operating under the assumption that the Fed snake would eat the Treasury tail to keep rates low.
Now, I’m not so sure. It’s a hairy tightrope to walk between inflation and absorbing All That Debt and the Fed seems not quite anxious to walk it with abandon, like Bambi and Timmy want them to.
It is equivocal that a bond market dislocation could bring 0bama down. If it does, then the rest of us will be living in a financial near-collapse and a recession/depression far worse than what’s currently going on. Be careful what you wish for, in this case.
Write this down and say I said it:
This debt is going to have to be monetized. If that don’t happen, my name isn’t parsifal.
parsy, who come to think of it that isn’t my real name.