Friday, December 31, 2010

Ring Out 2010

I'll make this fast so you can all go enjoy yourselves tonight.

The U.S. stock market had a good year in 2010 but that doesn't nearly make up for the fact that stocks' performance over the past decade has been the worst since the (previous) Great Depression.  I am fortunate that my net worth is much higher now than it was in 2000. 

Bonds had a terrific year thanks to all of the artificial demand from quantitative easing.  That effect is starting to backfire.  Yields on the 10-year Treasury are heading back to where they were at the beginning of the year.  The bloom will come off this rose thanks to out-of-control central bankers

Real estate . . . don't even get me started.  Read my blog posts for the last week or so to see the downward trend restarting. 

Now you can go have your fun.  Drink responsibly.  Have a designated driver, call a taxi, or take mass transit.  Try not to throw up on your clothing or your date.