
The Fed Doesn’t Care About Midterms

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There was a time when the most conservative, boring, made-for-old-people investment was Treasury Bonds. Thanks to the pathetic needs of equity bulls, and their childish desire to be given gains every single month, the government has gone helplessly into debt for the sake of the Adam Neumanns and David Portnoys of the world. Thus, the performance of bonds resembles that of a biotech startup.



The irony, of course, being that the loss in asset values this year roughly equals the entire debt of the United States. So it didn’t get us one hell of a lot, except to ruin a once-great Republic.
