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It's Probably Nothing

By Kate on August 22, 2012 10:55 AM | 9 Comments

Buffett Cancels Municipal-Debt Bet Five Years Early - Berkshire's move comes as investors are flooding into municipal debt, keeping bond prices high and yields low.

h/t John G

9 Comments

Syd B. | August 22, 2012 11:04 AM | Reply

Never thought I'd see the day.

Fred | August 22, 2012 11:06 AM | Reply

The only questions now are how big the boom will be that forms the economic crater and which state will go first and cause that boom.

Illinois or California?

Fiscal Armageddon . . . coming to a State near you.

Mike in White Rock | August 22, 2012 11:21 AM | Reply

I'm betting it's Californica that goes first!!

Dennis | August 22, 2012 11:35 AM | Reply

"Investors are flooding into municipal debt...." This statement confirms my suspicions that the next big financial bubble will be government debt. Why so many investors are doing this is beyond me, but when this bubble implodes it is going to make the housing crisis look like a walk in the park. The federal government will be in the unique and impossible position of having to bail itself out. How? By monetizing its debt and unleashing a tidal wave of inflation.

John Chittick | August 22, 2012 11:49 AM | Reply

Unionized municipal workers paid multiples over private sector workers and all with gold-plated pensions, ridiculously low interest financing of boondoggles, corrupt governance, all paid for from a collapsed real estate bubble and declining value of the tax base - what could possibly go wrong?

TJ | August 22, 2012 11:59 AM | Reply

Same thing could happen in Canada. Working for government and crown corporations has become a way to earn more than working in the private sector. How ridiculous is that.

james | August 22, 2012 1:29 PM | Reply

It'd be hilarious if he starts buying gold. (research his position on gold)

WFLBG | August 22, 2012 3:05 PM | Reply

James @ 1:29

Yes. Buffett knocks gold every chance he gets.

That said, Berkshire-Hathaway did hold 129.7 million ounces of silver from 1997 to 2006.

OMMAG | August 22, 2012 8:40 PM | Reply

Manipulation ... if brokerage house or investment bank made announcements like Buffet does .... they would be slammed by the FTC faster than you can say ... Federal Prosecutor .... Buffet does this and everyone goes .... ooooooooooh!

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OMMAG: Manipulation ... if brokerage house or investment bank made announcements read more
WFLBG: James @ 1:29 Yes. Buffett knocks gold every chance he read more
james: It'd be hilarious if he starts buying gold. (research his read more
TJ: Same thing could happen in Canada. Working for government and read more
John Chittick: Unionized municipal workers paid multiples over private sector workers and read more
Dennis: "Investors are flooding into municipal debt...." This statement confirms my read more
Mike in White Rock: I'm betting it's Californica that goes first!! read more
Fred: The only questions now are how big the boom will read more
Syd B.: Never thought I'd see the day. read more

It's Probably Nothing

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9 Comments