Scary-scary


No, no, no … I’m not hopping on the gloom bandwagon.

Historically, U.S. Treasury bills are considered to be one of the world’s safest investments. But growing insecurity about the long term health of the U.S. economy and recent weakness in the dollar benefits gold, which is often used as an alternative asset hedge to a depreciating dollar.

What if investors are moving away from the dollar for good? Foreigners own a little more than half of publicly-held U.S. government securities, according to the Treasury Department. So if these foreigners – both central banks and private investors – decided to give their Treasury portfolio a heave-ho, it could leave to a devaluation of the greenback and rising interest rates, and the cost of borrowing for consumers and businesses could rise. That would be bad for economic growth.

Rather it’s when you read something that is sort of thoughtful-scary, it’s worth noting. You know, like, if this ever actually came true, this is the day I first heard about it, or something stupid like that.

Anyway, never mind.

Capitalism and the moron


Over at Planet Money, an NPR listener from Massachusetts explains why it took his boss twelve years to finally give over and buy a microwave oven for the office:

He’s always resisted because he doesn’t like the smell of warmed food in the office. [O]thers who’ve been at this architecture firm six years and longer have been eating cold soup and leftovers or eating out more than they’d care to for some time now. He’s laid off 40% of the office in the last year (5 people), finally resorted to bringing his own lunch, and realized it would be nice to be able to heat it up.

Something about supply, demand, and capitalism goes here, but you know … that’s such pathetic story I don’t even want to bother writing a joke about it. So just think of it this way: Everything you need to know about what’s wrong with capitalism in America is contained in that paragraph.