"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Why the Bond Market Could Repeat History
Submitted by Michael Kleen on Fri, 2011-05-13 01:00
in
According to conventional wisdom, a sluggish economy tends to reduce demand for credit, which, therefore, tends to keep interest rates low… all else being equal. Robust economic conditions, on the other hand, tend to increase demand for credit, which tends to push interest rates higher…all else being equal... But “all else” is almost never equal, especially not in the America of 2011.
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