Buy more ammo.
She is correct, but the timing of the fun times in muni bonds, who knows. Invest in Detroit bonds!/s
“...coming out with a new book in December...”
I believe the dear lady will be “a day late and a dollar short”. The excrement is going to hit the fan WAY before next December, and I’m not buying anybody’s damned books!!!
10 High Profile resignations at banks across the world in the past 2 weeks
February 19, 2012
http://business.time.com/2012/02/15/world-bank-president-zoellick-resigns/
http://www.proformative.com/news/1470243/cfo-anz-bank-resigns-amid-turmoil
http://www.livemint.com/2012/02/06160111/Dhanlaxmi-Bank-CEO-Amitabh-Cha.html
If you’re a producer and not a taker, you’re automatically a ‘have’. Somehow, the productive citizens have become the enemy.
BHO proposes to change the tax status of income derived from munis, meaning he is taking the exampt out of these tax exempt instruments. Of course, anyone can understand how it will cause the price of the bonds to drop to make up for the change in after-tax yield.
I just finished writing a pretty interesting book on “Biflationary Depression”. It all ties together qith what Meredit and multiple other gloomsday writers are saying. We are bankrupt on multiple levels, the only hope of the banking and political class is that the Fed will paper it all over. Trouble is, you really don’t know whether that will lead to inflation in any given sector, or deflation as velocity seizes up. I’m calling it for both, Biflation. Gold up, falling residential and assets, oil up,loan velocity down. Rinse and repeat.
A fun time will be had by all.
https://www.createspace.com/3683488
The banks and construction companies attempted to get a $40 million bond dumped on residential property owners on Pocatello and Chubbuck Idaho. The funds were for renovation of a sports facility at ISU. The citizens revolted. We could see the current troubles on the horizon. Bad news for muni bonds. We put it on the ballot and voted it down with 72% NO!
