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As much as I bellyache about the government, one of the few pieces of it that I’ve defended my whole lift has been the postal service. I think it’s pretty much the last bargain in town. Here’s a photo of our own beloved depression-era post office here in Palo Alto:
Well, it’s Thursday, which means the latest Fed Spread data is out. At the top is BTFP, which is scumbag Janet Yellen’s free handout of billions to her banking friends, the only friend she’s got. It has never been higher, and even though by her own vile, repulsive mouth she bleated that it would expire in March, I assure you the old biddy is going to extend it, because there’s no way in hell her friends are going to be able to pay back the literally hundreds of billions of dollars she has handed out to them. If the public wasn’t so stupid, they would have her in prison (or worse), but they are, so she isn’t. And so it goes.
I can hardly type right now, so I honestly can’t comment on these – – but they are Fed Spread charts with the latest data.
Plunging interest rates (and Yellen’s little scheme from mid-March) have been the gasoline powering this rally. It is therefore important to watch for any kind of inflection point. The TBT (ultra-short fund based on bonds) is getting close to a crucial price gap, which in my estimation could be such a pivot point.
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