Good going guys--just 22 ticks away from a negative real interest rate on the 30 year TIP (last time checked)--a magnificent monument to Uncle Ben's prudent management of our lives. We are surely blessed :).
Don't tell me TIP doesn't have a maturity that long for its holdings. It is just a cherry on the bountiful hocus pocus sundae that Bennie has provided us. In the spirit of Charles Ponzi I salute him and the governments around the world who have created such a monstrosity without fear. The outflow from equity funds exceeds anything we have seen in this century and the inflow into bond funds is the same. As Irving Fisher once said 'interest rates act as a link between income value and capital value." Since interest rates are zero or lower, I wonder what that could mean?