8.19.2011

It's not a how-to manual

Obama buys a copy of Aldous Huxley's Brave New World.

I suppose he already has Orwell's 1984 and Vonnegut's Harrison Bergeron.

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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...