Buy Gold

What happens if you send a trillion dollars or so chasing after reasonably-priced assets?

OOPS:

The analysis of this paper suggests that recent credit market prices are actually highly consistent with fundamentals. A structural framework confirms that bonds and credit derivatives should have experienced a significant repricing in 2008 as the economic outlook darkened and volatility increased. The analysis also confirms that severe mispricing existed in the structured credit tranches prior to the crisis and that a large part of the dramatic rise in spreads has been the elimination of this mispricing.

Big Tent Anglicanism

Hey, That's No Way to Say Goodbye

Caturday Morning

Been There. Done That.

Really?

We're Tempted

We're VERY tempted. And it's NOT a joke.

The President We Deserve

Mark Steyn: "So let me see if I understand American protocol in the age of Obama: The First Lady hugs Queen Elizabeth as if she's some granny at a seniors' center photo-op, but the President of this republic prostrates himself before King Abdullah as if he's a subject of the Saudi pseudo-Crown."

Don't Worry, Be Happy

Inevitable

A Facebook Haggadah.