Saturday, January 14, 2017

We don't do infrastructure because we don't stutff pensions

Infrastructure Delusions

So investors betting on a big infrastructure push are almost surely deluding themselves. We may see some conspicuous privatizations, especially if they come with naming opportunities: maybe putting in new light fixtures will let him rename Hoover Dam as Trump Dam? But little or no real investment is coming.

Bernanke starts this discussion about infrastructure spending,he misses the part where he spent three years trying to keep California pensions from bankrupting. Bernanke and the MIT Basket Weaver crowd operate under the hidden agenda program.  They tell us little browns one thing, but secretly plan another.

This was all about pension stuffing,the idea being for Senators to drive rates way up, then the pensions can shift from equities to bonds.  Unfortunately, the entire world beat the pensions to the punch, and pensions are now third in line.

This is like the umpteenth time the Kanosian plot has been foiled.

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