And now for something completely different.
Ever since Jansen went dark, I have missed hearing a voice in the blogosphere with actual bond market expertise. Sure, the financial system has calmed itself. But I do not expect that to last.
On the other hand, my real job is consuming an ever larger portion of my time. (Have you read those stories about tech companies laying off workers, but then giving raises to the those remaining and working them ragged? Yeah, well.) I am beginning to realize that I cannot keep this blog as active as I would like.
Not by myself, anyway. So I have recruited a co-blogger as an experiment. Maybe it will not work out. Or maybe it is just the beginning, and self-evident will soon be like Zero Hedge. (No.)
Anyway, the point is that you will need to start reading the by-line if you care who the author is. My co-blogger’s first post will be coming “soon”.
I hope your co-blogger sees what is self-evident as clearly as you do. I keep sending people here, and then you stop writing! Keep up the good work. The world needs more clarity.
Sure, the financial system has calmed itself. But I do not expect that to last.
Why do you not expect it to last? The backstops put in place seem pretty solid and will prevent things from sliding out of control. As long as they are within control, the news will not be very exciting. There will probably be a whole bunch of orderly small-medium bank closures by FDIC and the passing of some bills that transfer more of tax payer money to the wealthy, but other than that things should be fairly calm.