Sep

8

Woody Allen said that "hope is that thing with feathers". I read it in his memorable book Without Feathers. Why I am writing this instead of working? Because Argentina emitted a new series of seven year bonds and the demand was three times the supply. Figuratively, people pushed and trampled over each other to give their money to Argentina and get one BONAR. Only four or five years ago Argentina was broke and paid out its bonds at 20 or 30% of face value. Savers were harmed. People have no memory?


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