... is a good read. It acknowledges the great credit Ponzi, that our economy is entirely dependent on issuing new debt to pay interest on old debt. It's something that everyone who understands macroeconomics knows, but it's rarely spoken in polite company.
Read it here. And in case PIMCO takes it down after Gross's jumping ship just before being made to walk the plank, here's the Google cache.
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
Body Count goes to Vegas! Ernest Scherer III was a Vegas loser who fancied himself a professional poker player. Doesn't that photo t...
I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.