Treasury Bonds

They’re not a bubble — they’re just “frothy:”

How much foam is there on top of this fiscal frappe? Treasury bond yields are down about 40 percent in the past six months, as Gross also notes — a frothy market indeed. But I do not think Gross is showing much guts in his proposed wager: True, the U.S. government probably is not going to default on its debt in the near future. (Probably.) And, sure, he’s right that the values of the bonds will fluctuate but “won’t double, and they won’t go to zero.” But here’s the thing: They don’t have to. The government doesn’t have to default, and the value of the bonds doesn’t have to double or go to zero to cause all sorts of havoc in U.S. finances. Interest rates are very, very low — but even as low as they are, we’re still piling on debt so quickly that any serious uptick in the government’s cost of borrowing — and no, it does not have to double — could send us into a Greek-style fiscal crisis, especially if it should coincide with, say, the second and even more painful decline in a double-dip recession. Or a financial shock caused by an international crisis in, oh, Iran. Those are the kinds of risks that the Leviathan-on-a-leash guys never really account for: “Oh, everything will be fine, so long as everything is fine.”


The Glenn Beck Rally

Instapundit has a roundup of links, including a good sampling from ReasonTV. I have to say that, not being religious (in either worshipping God or the State) it’s not my cup of tea, and I wouldn’t have gone out of my way to attend, but neither can I imagine that I would have felt in any way uncomfortable there.

I agree that it was Tocquevillian. Much as my fellow non-religionists want to get upset about it, the fact is that this is a fundamentally (though not fundamentalist) Christian nation in its history and culture, and when the political class pushes too hard against those core values — the golden rule, thrift, virtue, self reliance — there’s going to be a revolt. That’s, finally, what we’re seeing this year. I’m sort of glad that McCain didn’t win, because he wouldn’t have turned up the heat under the pot anywhere nearly as quickly. With Obama, Pelosi and Reid, the frog finally noticed that things were getting a little too warm.

[Update a few minutes later]

Commenter “John” has it right:

That is most of America. Most of America is not attractive or cool. Most of America is white and older. Most of America is patriotic and religious. Unless and until Libertarians figure out a way to talk to these people, they will always be a fringe movement.


[Monday morning update]

I can see November from the Washington monument.

And it’s not a pretty sight, if you’re a Democrat and/or statist.

Stand Up For Your Rights

I just don’t get all this hate on uncovered boobage and Alan Simpson. If rights to seeing and saying tits aren’t constitutionally protected, what are? The very word is enshrined and embedded right there in the middle of “consTITution.”

In fact, I think that this invention, while not the worst one in the world, is right up there, and clearly unconstitutional (audio may not be safe for work).

[Via Burge on Facebook]


I hardly ever have canned soup — I find it pretty easy to make from scratch, if I have the time. But I just tried some Progresso chicken with rotelli. I enhanced it with leftover chicken breast, and added water, but I still found it too salty, and the carrots and the noodles too mushy. I suppose that overcooking is inevitable with canning, but if this is the best (and they certainly price it that way), what are the rest like?

Biting Commentary about Infinity…and Beyond!