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Economy for 2013: San Diego worse than state, nation?

Actually, the Fed can keep buying paper forever. After all, they are the biggest customer at the treasury auctions right now,....what's a little more fiat money? This article was 6 months ago and it's getting much worse.http://www.moneynews.com/Headline/fed-debt-…, now it's up to around 80% with QE3+ and that extra 65 silent billion a month tweaking the short end of the curve(to add liquidity of course). But then again, what the Fed really wants you to do is to buy the 10 year note with overnight money. No sane person would buy the 10 year note at these levels, so the Fed is offering a kicker, an inducement so to speak. You can get your brokerage firm to loan you all the overnight money you want for 39bps(the broker or bank is paying 19 bps today). The 10 year is yielding 171 bps right now, so one can buy the 10 year, and either hedge it in the futures market or get a repo agreement with a bank, either of which will cost around 60-80bps, depending.An idiot should be able to make around 25 bps from this carry trade. Or, if the 10 year keeps going up, you can sell the damn thing and worry about capital gains in April. The Fed is artificially rigging the interest rate market, and that's why they are allowing this carry trade(which incidentally is responsible for a large portion of the profits of the banking system right now). One caveat about carry trades, although they usually work for years, when they stop, they crush you like a bug..
— December 27, 2012 11:14 a.m.

Mary Hoffman takes on CPUC

Greed is good.
— September 28, 2012 12:06 p.m.

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