A 0.01% Money Market Yield

July 3, 2009
I just checked the yield on my money market fund. How does 0.01% sound to you? Sounds to me like the mid term GPA average for the Delta House gang back at Dean Wormer’s fictional Faber College. You’re getting less than 0.5% from 3 and 6 month treasuries and bank CDs. And you know that it is my forecast that the U.S. dollar is going to crater versus the Swiss franc and the Canadian dollar. Moreover, the yield on the Dow is less than 3.5% isn’t it? Savers are in a darn tough spot. And conditions will worsen due to ongoing mismanagement at the White House, Treasury and Fed. And now the misguided Obama Administration wants you to join a massive government funded and controlled health care charade. As you probably know, I am a Cato benefactor. Here is a recent health care summary from Cato.

“Health Care Reform– The public uprising against the Clinton administration’s efforts to nationalize health care in America didn’t mean that there isn’t massive room for improvement in our health care system. Recently, the Supreme Court of Canada overturned the government monopoly on health care delivery because of the long delays in getting care, resulting in thousands of deaths, that are common to single-payer systems around the world. We support a true market system for health care that would de-emphasize third party payments (including insurance and government) and restore the direct doctor-patient relationship. We published the first study calling for health savings accounts with high deductible insurance. Michael Tanner and Michael Cannon, two of our experts in the field, have led the fight against mandated insurance schemes nationally and at the state level. They also call for ending restrictions on where one can buy insurance so that a citizen of New York, where absurd coverage mandates dramatically drive up the cost of insurance in, say, Arizona or New Hampshire.” (Cato On Health Care Reform)

I am not a socialist and I doubt you are. It’s truly amazing to me how fast our country has unraveled under George Bush and now the Obama fronted radical progressive movement. The clock is ticking.