As bond vigilantes are also about moral hazard and clear evidence that without punishment mentality, there is low probability of structural change. There is Upside of Irrationality and Revenge! Squeeze the top quintile for the benefit of ZIRPed bond investors?Friday, June 04, 2010
US Aggregate Annual Household Expenditures By Quintiles Of Income Before Taxes In 2008
Pretty nice chart by CLSA Asia-Pacific Markets, highest quintile spends 4 TIMES more than lowest quintile. Click on chart to enlarge.
As bond vigilantes are also about moral hazard and clear evidence that without punishment mentality, there is low probability of structural change. There is Upside of Irrationality and Revenge! Squeeze the top quintile for the benefit of ZIRPed bond investors?
As bond vigilantes are also about moral hazard and clear evidence that without punishment mentality, there is low probability of structural change. There is Upside of Irrationality and Revenge! Squeeze the top quintile for the benefit of ZIRPed bond investors?
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