So in these Pathetic States of America, with another can-kicking in progress, it seems apparent to me that this nation has much in common with an addicted, drug-addled crack-head leaning against the side of a derelict building in the sketchier part of town:
- We don’t make enough money to pay for our expenses, so we always have to be borrowing;
- We can’t ditch our addictions (reality television, celebrity worship, greasy foods) which continuously dumb us down and hold us back;
- And, most clearly today, we always need just a little more time. C’mon, man! I know I said I’d pay ya, but I need a little more time! Just a little more!
Blech. It’s embarrassing, but we’ve all become so accustomed to it, it doesn’t register anymore.
I will say this, however – my biggest short (which took me a while, because it’s tough to borrow) is MUB, the municipal bond ETF. Between rising interest rates and crumbling tax bases, I’m a believer.