I've Heard That Song Before

That was the title of a fine big band era song that fits so much of what we hear ... if we have a memory. Bunkerman has a memory.

In the department of "Be careful what you wish for, you might get it", I see some hedge funds were liquidated Friday in the municipal bond and mortgage-backed sectors, helping create more "credit" panic and pushing stocks down. Hence my pain Friday was a bit "self-wished-upon" [a coined word]. I'll bear that kind of pain so this cesspool of hedge funds can be drained.

In the department of "Don't open your mouth and show people you're stupid", Obama's wife said that there was nothing she could be proud of in America until her hubby ran for President. D'uh ? Then she has bashed excessive executive pay, but I see she makes $300K for being VP of "Community Affairs" for Chicago Medical Center. D'uh ? I wonder what a nurse makes ... someone who actually helps and cares for people ? Or a high school teacher ?

And in the fearmonger department now blathering about "stagflation", I read that the year-over-year core PCE deflator was ... 2.2%. Zounds !

In the "buy low, sell high ... or sell high, buy low department", the obvious trade is sell gold and silver and TIPs and Treasuries and buy stocks, municipal bonds, and corporate bonds. I see the pumpsters are saying the opposite: sell loans, buy crops from this week's Barron's.

Gotta give Mrs. B more money ... see, a good husband gives his wife money to invest ;-) .... to buy big companies like KO and BA that have huge overseas earnings components and buy investment grade municipal bonds over 5%. And gotta sell more gold & silver to capture this price spike.