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Say the Feds succeed at thwarting a potentially deadly terrorist plot. I doubt a defense of “no one has been harmed, and no one claims to have been harmed” would even be attempted.
Perhaps the Fed Chair denouncing forward guidance will be remembered for giving thinly veiled forward guidance at his first major speech as Chair. Perhaps.
Major private equity/credit firm obfuscated its affiliated transactions and leaned heavily on suspicious ratings issued by a single rating agency. That agency rated 3200 deals in a year with a staff of 25 analysts. Deal documents are hundreds of pages.
The U.S. National debt officially surpassed $40 Trillion yesterday.
Today the Treasury department announced a doubling of periodic purchases of long term U.S. Treasury bonds.
It is said noone “rings a bell” at risk market tops, but there are declarations of “new asset classes involving ‘financial innovation’ abetted by questionable ratings” to watch out for.
NVDA $500B fund (not to be confused with funding) consortium plan will not likely age well. Assets of unknown life as collateral for long term debt? Why not do a 30 year ABS deal backed by warehouses of bananas? It’s OK, they’ll be newly engineered bananas of unknown life.
Reported total returns since April 4, 2012 (Inception date of TCPC):
Cumulative Annualized
TCPC. 4.01%. 0.28%
Bloomberg Agg Index. 31.39%. 1.92%
High Yield Index. 121.16%. 5.69%
90-day T-Bills. 26.96%. 1.68%
Lennon’s Revolution
You say you’ll change the Constitution
Well you know
We’d all love to change your head
You tell me it’s the institution
Well you know
You better free your mind instead
Cause if you go carrying pictures of Chairman Mao
You ain’t gonna make it with anyone anyhow
The 5th amendment is about not compelling self-incriminating testimony. Invoking the 5th in response to “what color is your tie” has nothing to do with self-incrimination. It is simply arrogant contempt.
The most troubling thing about the Fauci diaries is his almost cheerleading the rising death count because the rising death count correlated to his growing media celebrity, as he reported in detail.