Wednesday, September 17, 2008
"... return OF capital, not ON capital"
I noted yesterday that foreigners were rushing to stuff cash into the US Treasury pillow. Brad Setser chimes in, explaining that although there's no yield (see his graph below), at least the capital is safe. We hope.
3 comments:
Unfortunately, because of a plague of spam comments, you need to be a "registered user", otherwise your observations will be buried in a torrent of multilingual nonsense. Please do comment!
Say what you please, so long as it's phrased politely and is not libellous or legally proscribed. Fact, reason and wit are keenly welcomed.
Yes, nice distinction.
ReplyDeletereturn TO capital, perhaps, if a large Yorkshire business and a large Scottish business are to be run from London.
ReplyDeleteJame: not mine, wish it was. DM: rather witty, that.
ReplyDelete