This isn’t Monday-morning quarterbacking. For one thing, it’s not football season yet. For another, the game wasn’t played on Sunday afternoon. It’s been going on for weeks, with twists and turns more reminiscent of comic opera than football. Even so, today’s media game has been all about deciding who got the better deal. Many of the partisans think they came up short, and are looking | Read More »
Currency markets are open in the Far East as I write this, and the dollar is a little weaker. No interest rates or commodity prices yet, but I’ll update you if anything exciting materializes. I must say that I found it weird to hear John Boehner and others talking about making a deal before the trading week starts. (And if you’re a long-time RedState reader, | Read More »
Ok, let’s look at both the politics and the economics of this issue. The underlying politics is as follows: the American people are sick and tired of deficit spending. The pundits are completely wrong when they downplay this issue, because deficits are FAR worse now than they ever have been in peacetime (10+% of GDP). And they got far worse at almost the exact moment | Read More »
Just when you thought US Treasury debt couldn’t get more overpriced, it gets… more overpriced. The 10-year yield fell all the way to 2.95% yesterday. It held that level for part of this morning, and now is just under 3%. At least some of this has to be due to the supply disruption caused by the US hitting its debt ceiling. (Existing debt can be | Read More »
![[RS]](/t/img/logo-footer.jpg){kind=logo}