4.15.2010

Thank you sir, may I have another

Some people report a feeling of patriotic duty associated with filing their taxes. I discovered anew today, as in years past, that I am not one of those people.

Cheers to you, Uncle Sam. Cheers to you, Goldman Sachs. Spend it well.

QE has permanently ruined bonds for investors

You used to earn an interest rate roughly inline with nominal GDP growth, even slightly better. Since the Fed started manipulating interest...