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Article Artículo

Government

Bond Dealer's Cold Feet Get Deficit Hawks Excited

The deficit hawks are acting like they just got a shot of steroids. William Gross, the head of Pimco, sold off the government bond holdings of their largest investment fund. The deficit hawks are claiming this as evidence that the sky is now falling and that we have to take steps now to Social Security, Medicare and other important programs.

Before we throw current and future retirees overboard, we may first want to ask a few questions about Mr. Gross's qualifications as an oracle. As a first point, if he was really all-knowing, he would have sold off his bonds in early October when the interest rate on 10-year Treasury bonds was 2.41 percent. If he waited until January and the interest rate had risen to 3.39, then he cost his investors a lot of money. He could have sold these bonds at a much higher price when the interest rate was lower.

Dean Baker / March 16, 2011

Article Artículo

The Forgotten Story of Cholera and the Upcoming Rainy Season
Although a new study today from The Lancet has brought the cholera epidemic back to the attention of the media, the story had faded from the headlines, replaced by elections, returns of former presidents (and dictators) and reconstruction projects. Many c

CEPR / March 16, 2011

Article Artículo

Is MINUSTAH’s Time Almost Up?
From the website of a State Representative for the (ruling) Workers’ Party in Brazil, a flier promotes a rally for “the withdrawal of troops from Haiti”. The March 28 event will feature speakers from, among others, State Representatives for the Workers’ P

CEPR / March 15, 2011