Wednesday, May 24, 2023

Purple Tulips

 




10 comments:

  1. Again this morning it is warm enough in the house that turning on the heater isn't reasonable (although a bathrobe is), and we have yet to use the air conditioner. The ten-day forecast is for lows in the 50's F and highs in the 80's; pretty nice. We are making very good progress with the weeds in the yard, filling almost two big wheeled trash cans each week (have to save some room for household trash). The neighbors on the east side are having the fence replaced; we will help out some with the cost, but less than half--it could have been to a large extent repaired rather than replaced.
    ---Alan

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    1. Temps were in the 60s when I went out this afternoon for my annual retinal exam (no problems). The wind was the only reason I needed a jacket at all.

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  2. Debt-Ceiling Fight Sends Investors Hunting
    May 24, 2023 at 8:50 am EDT By Taegan Goddard

    “Traders worried about a potential U.S. default are swapping their go-to safe haven for the bonds of America’s top-rated companies,” the Wall Street Journal reports.

    “This trading has produced a rare twist in debt markets: corporate bonds that are trading at a yield discount to Treasurys, which are generally viewed as the world’s safest investment.”

    ---Alan (who figures Biden will win this game of chicken)

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    1. P.S.: I also have far less respect for the Wall Street Journal since it was bought by Murdoch.
      ---Alan

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    2. Something really interesting is that Wil's part-time home business has been going gangbusters the last couple weeks. Mind you, he writes software that tests PC boards, and various companies hire him when they need boards tested. So when he has a lot of work to do it means that manufacturing is booming. Sort of seems opposite to what we'd expect with the uncertainty of the debt ceiling and economic well being.

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  3. BBC: The greatest children's books of the 21st Century [Click] This is very interesting; the kids might save us yet.
    —Alan

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  4. Paul Krugman has suggested, in addition to or in place of consols, "premium bonds:" the Treasury reissues expiring bonds with a later maturity date and higher interest rate. The higher interest rates result in higher prices, and since the national debt is based only upon the face value of the bonds, it is not increased. It seems that the GOP radicals couldn't do anything about either one. I am not aware that premium bonds have been used before, whereas consols have. And the Administration doesn't have to tip its hand while there is still a possibility of negotiations bearing fruit.
    ---Alan

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    1. Interesting! I'd love to see a creative solution.

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