Friday, July 07, 2006

Joe's right!

Yesterday, I pointed you to Joe Roberts. I noticed on his site this statement.
Neo-Cons like the $8+Trillion debt because they buy U.S. Bonds and collect interest. Neo-Con family values send children of working Americans to a war that boosts their defense contractor stock holdings. Neo-Cons ignore the Constitution and the law and encourage illegals to do the same. Neo-Con CEOs swill salaries of $100 Million plus, while cutting worker pay, benefits & retirement.
It turns out there's confirmation of part of that statement. Cheney's money people think administration policies will make the dollar sink and inflation rise:
The Cheneys held another $1 million to $5 million in Vanguard Tax-Exempt Money Market fund (VMSXX, news, msgs), which is practically risk-free and could benefit from continued increases in short-term interest rates. And the couple had between $2 million and $10 million in Vanguard Inflation-Protected Securities fund (VIPSX, news, msgs). The principal and interest payments of inflation-protected bonds rise along with consumer prices, making them good inflation hedges...The Cheneys also had between $10 million and $25 million in American Century International Bond (BEGBX, news, msgs). The fund buys mainly high-quality foreign bonds (predominantly in Europe) and rarely hedges against possible increases in the value of the dollar. Indeed, its prospectus limits dollar exposure to 25% of assets and the fund currently has only 6% of assets in dollars, according to an American Century spokesman.
We need more Joes and fewer Dicks.



Post a Comment

<< Home