Newly Added to the Pile
Worth Reading, Mostly Economics (March 16, 2010)

Michael Kinsley Cries "Fire! Fire!!" in Noah's Flood


My Inflation Nightmare.

If Kinsley seriously believes that inflation is on the way, he and his wife could take their entire household portfolio and go short 20-year Treasury bonds @4.43% and long 20-year TIPS @2.11%. Each year over the next 20 that inflation is above 2.32% they make money.

I'm not one who pledges to always believe that markets have gotten it right. But I do believe that someone who doesn't think that market prices are aggregating information needs to tell a story about why markets have gotten it wrong before they set pen to paper.

That is all.