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Ronald McDonald is a Safer Bet Than Uncle Sam
This past week saw a remarkable occurrence. The cost of insuring against a US default via credit derivatives hit record levels. It now costs more to insure against a US default on their debt than it does to insure against a default by McDonald’s. Ronald McDonald is deemed to be more trustworthy than Uncle Sam!
This is understandable in the light of the trillions of dollars in additional debt that Uncle Sam will soon be adding to its balance sheet. Yet the lemmings on Wall Street continue adding to their US dollar positions. Don’t be surprised to see a bailout down…
6Oct2008 | Oxbury Research | Comments Off | ContinuedThe Little Market That Couldn’t
And people who think they’re laying rail.
Sigh. I tried. Really, I did.
But there was just too much idiocracy to allow the publishing of the first two articles I wrote this week. Originally, they were optimistic, forgiving, and light-hearted. Then I turned on the television.
And started laughing. A frustration-driven, maniacal laughter that rivals that of the Joker from Batman. And not Heath Ledger’s Joker, I’m talking the original – Jack Nicholson style.
Why?
Because I love watching fat cats sweating through their $3,000 suits, all but hyperventilating under the bright lights and cameras surrounding them, as even they struggle to believe the…
19Sep2008 | Oxbury Research | Comments Off | Continued
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