I've been mentioning with increasing frequency that TLT – the ETF for U.S. bonds – is a good short. It's my second-largest short position, and as of this writing it's down nearly 1% on the day. I think Ben's cute little scheme of propping up all his Wall Street buddies with trillions of dollars of POMO/QE2 is going to eventually badly damage the United States, and I think the value of U.S. debt instruments is going to circle down the toilet. I believe betting against T-bonds is a good play.
