Your Thursday Afternoon Dose of Doom & Gloom
You might want to go ahead and just plan on drinking yourself to sleep tonight after you read what Paul Farrell reports from InvestmentNews:
InvestmentNews wants to make damn sure its readers, the 90,000 professional financial advisers who rely on the timeliness and accuracy of every INews forecast, understand: “What will your clients’ portfolios look like when the bond bomb goes off?” Get it? Not “if” but “when” that happens.
Yes, they do expect the bond bomb to explode and are publishing “a special report on the impending crisis in the bond market.”
Yes, you heard them. “Tick, Tick ... Boom!” Wake up, it’s an “impending crisis,” and it lies dead ahead. And to punctuate the message, InvestmentNews added a photo of an alarm clock with huge bells, wired to rolled-up bonds looking like a stack of dynamite sticks. “Tick, Tick ... Boom!”
InvestmentNews is not staffed by a bunch of alarmists. Quite the opposite — it’s conservative, trustworthy and methodical.
Paul Krugman might still assure us that everything is OK. President Obama and Speaker Boehner are in perfect agreement that we face no immediate crisis. But keep in mind that nothing is ever immediate -- until right before it happens.
So what happens when the bond market crashes? Don't ask. But I'll tell you this much: It's never pretty when you have to start borrowing money to pay the interest on the money you already borrowed.
Article printed from VodkaPundit: http://pjmedia.com/vodkapundit
URL to article: http://pjmedia.com/vodkapundit/2013/3/21/your-thursday-afternoon-dose-of-doom-gloom-2