Opinion

Headlines, Mulch, and Evangelical Misery

  Toilet paper aisles may be sparse, but one thing we’re not lacking is opinions on the pandemic.  Everyone’s got their take and a pet conspiracy theory to go with it. Here’s mine: From a human standpoint, the United States has done a great job mobilizing (or immobilizing in this case) the populace into an emergency response stance.  300 million people united in confirming their pact with the rest of society and backing that bond with (in)action is a feat.  Economically, this thing is a mess.  The Fed’s solution has been to fire the bazookas and let God sort’em out.  That’s not my preferred option, but considering the government is what shuttered the economy (and now we KNOW they can do that – more frightening, the government KNOWS it can do that now, too), the government needs to provide some support.  What’s the future look like health-wise and for the…

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Fun with TINA

I’ve heard today’s investing environment described as TINA.  There Is No Alternative.  I don’t necessarily agree that this is the case, but the argument goes something like this: US Treasurys yield around 1.50% The rest of the world is yielding zero (or less!) US stocks yield 2% and the US economy is strong Equities outside of the US have sucked for a decade and their central banks have weak hands Through this incredibly limited view (that no one should use to invest actual dollars), there is no alternative to owning US equities, especially if you are investing for income.  This did get me thinking, though… Ten Years Ago Just for fun, let’s take a look at the 10-year Treasury and the S&P 500 as though they are the only two investment choices.  Ten years ago, the 10-year yielded 3.85% and the S&P yield was about 2%.  So $100,000 invested in…