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May 15, 2015
The Obamas Are Still Rich, But Hold a Big Mortgage
The president’s largest investment in 2014 was between $1 million and $5 million in U.S. treasury notes. He also holds investments in U.S. treasury bills and has consumer accounts at Vanguard, Northern Trust, and JPMorgan Chase & Co., among others.
It would seem that once you've been fully briefed on the many problems our country faces, it becomes harder to buy in on the rosy economic future theory.
You know, it's the theory that says stocks should rise 10% or more each year. Always have, always will.
It's also the theory that says when interest rates are this low, the vast majority of one's nest egg must be kept in high risk assets. There is simply no other alternative.
One wonders how much more bearish this permabear would be if he was fully briefed by those in power. Perhaps ignorance is bliss. In any event, my personal investments seem very presidential, so I've got that going for me, which is nice, lol. Sigh.
Q1 GDP Tracking: Movin' on Up
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From BofA:
Since our update last week, *1Q GDP tracking is up two-tenths to 2.1% q/q
saar*. [Apr 19th estimate]
emphasis added
From Goldman:
We left ou...
8 hours ago
4 comments:
How about Biden? I assume he has the same access to information.
Biden claims he has no investments, but his wife does...
"I don't own a single stock or bond ... I have no savings accounts. But I got a great pension, and I got a good salary," he said."
If you have rely on stock market returns to eventually retire, well, good luck.
As for the pension, Joe, don't fret over the "willy-nilly"
“Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation. Of course, the U.S. government is not going to print money and distribute it willy-nilly……..”
- Ben S. Bernanke, Federal Reserve Board Governor, New York Economic Club November 21, 2002.
All,
I wasn't just Biden my time today (yesterday). Actually left the house to see the Avengers movie. Will wonders never cease? ;)
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