Speaking of the future and life’s lessons, there is an ongoing process of discovery taking place amongst the world’s central bankers which they hope will rejuvenate their respective economies without creating the inflationary horror of the 1970s.
"We have gone in and taken the assets away from the competent people, given them to the incompetent people and said to the incompetent people, now you compete with the competent people with their money. It’s absurd.”
After a strong round of profit-taking selling , the oil complex is starting the New Year in negative territory once again. Heading into 2014, the oil complex will continue to focus on the ongoing geopolitical issues.
Treasury 10-year note yields touched a more than one-week low amid speculation Federal Reserve Chairman Ben S. Bernanke will seek to damp investor expectations of a reduction in stimulus when he speaks to Congress tomorrow.
On April 19, three weeks before he called the end of the 30-year bull market in bonds, Bill Gross said he was buying inflation-linked Treasuries, a bet that money printing by the world’s central banks would push up consumer prices.