Minority Whip Cantor Bets Against U.S. Bonds

[...] This post was mentioned on Twitter by daveweigel, Annie Lowrey, Scott Peterson, R Subramanian, Jacob Silverman and others. Jacob Silverman said: RT @AnnieLowrey: Eric Cantor invests in a fund that bets against U.S. bonds. It is down 31 percent this year. #win http://bit.ly/dgKvP7 [...]

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[...] whip puts mouth where teabags [...]

[...] If Cantor truly cares about “America’s prosperity,” one would have to wonder why he is literally betting against its financial future. The Washington Independent’s Annie Lowrey adds that “Cantor is not a very canny investor. The fund is down 31 percent this year.” [...]

[...] Lowrey observes that Eric Cantor doesn’t seem to be a very canny investor, having bought shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, since [...]

[...] Lowrey observes that Eric Cantor doesn’t seem to be a very canny investor, having bought shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, since [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « T&#1211&#1077 Washington Independent [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « T&#1211&#1077 Washington Independent [...]

That's not really fair. It wasn't a “bet against U.S. Bonds;” it was a bet that interest rates would go up.

betting interest rates will go up is an incredibly foolish thing to do when you are clearly in a deflationary spiral.

You will notice Pimco is loading up on treasuries, after first dumping them on inflation concerns.

[...] Minority Whip Cantor Bets Against U.S. Bonds « T&#1211&#1077 Washington Independent [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] If Cantor truly cares about “America’s prosperity,” one would have to wonder why he is literally betting against its financial future. The Washington Independent’s Annie Lowrey adds that “Cantor is not a very canny investor. The fund is down 31 percent this year.” [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds “A great catch from The Wall Street Journal: [Rep. Eric Cantor (R-Va.)], the Republican whip in the House of Representatives, bought up to $15,000 in shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, according to his 2009 financial disclosure statement. The exchange-traded fund takes a short position in long-dated government bonds. In effect, it is a bet against U.S. government bonds — and perhaps on inflation in the future. “ [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] Independent’s Annie Lowrey adds that “Cantor is not a very canny investor. The fund is down 31 percent this year.” This entry was posted in le station. Bookmark the permalink. Follow any comments here [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington Independent [...]

If this deflationary spiral was clear to world economists, central bankers, and government policy makers (particularly in the US and Europe), there would be no risk of said deflationary spiral. One of the upsides of a deflationary crisis is that it makes printing money (whether as currency or in electronic form) a good idea from a central banking point of view, in addition to the fact that the government gets a bunch of free money! The easiest way for the U.S. and Europe to help their budget deficits would be to print some money and pay some bills with it, and then borrow some more for another round of stimulus.
The tragic aspect of this situation is that inflation might increase to the Fed target of 2%, or even a little more. This makes some central bankers extremely nervous.

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington … [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « T&#1211&#1077 Washington Independent [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington Independent [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington Independent [...]

Chicago Railways Company To Harris Trust And Savings Bank, Trustee: Mortgage Deed Of Trust Securing First Mortgage Twenty Year Gold Bonds (1908)…

I found your entry interesting thus I’ve added a Trackback to it on my weblog :)…

[...] despite those budget deficits. If you bet on inflation and rising rates — which, by the way, Eric Cantor, the Republican House whip, did — you lost a lot of [...]

[...] [...]

[...] low despite those budget deficits. If you bet on inflation and rising rates — which, by the way, Eric Cantor, the Republican House whip, did — you lost a lot of [...]

Shouldn't it be prima facie illegal for anyone who has influence over US fiscal policy – like, say, the House minority whip – to take a position in the US bond market? Or, if we want to move from the conflict-of-interest approach to the aligning-incentives approach, it should be prima facie/i> illegal for such a person to be short the US bond market??

what an idiot. we really have to make sure the Republicans do not get back in charge of anything this November. they are a disaster.

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[...] low despite those budget deficits. If you bet on inflation and rising rates — which, by the way, Eric Cantor, the Republican House whip, did — you lost a lot of [...]

[...] Minority Whip Cantor Bets Against U.S. Bonds « The Washington Independent [...]

[...] near zero for the rest of the year, and possibly beyond. Cantor bought the shares in December. According to the Washington Independent’s Annie Lowrey, “the fund is down 31 percent this [...]

[...] near zero for the rest of the year, and possibly beyond. Cantor bought the shares in December. According to the Washington Independent’s Annie Lowrey, “the fund is down 31 percent this [...]

This jew sob should be deported to zionist israel.

How’s that working out for them, Daveyjones.  Go to their website and find out.  Cantor is not betting against anything, he’s simply been advised to diversify his holdings like any prudent money manager would tell him to do.  If our debt defaults, he stands to lose far more in the rest of his portfolio than the relatively small amount he might gain from his paltry (relatively speaking) position in the ProShares Ultrashort Fund.

This is quite possibly the most ridiculous criticism of a politician I have ever read before, and I have read some whoppers.  No one repeating this non-story as something significant has done even a cursory amount of homework and has no understanding whatsoever about interest rates and bond funds, or even the concept of diversification.

The criminal hidden in the government is now revealed!

Little late to this conversation, but what once gave companies support via investing has turned to a Casino for the “haves”.  It’s nothing more than speculation with companies losing out unless they join the speculation branch in legalized fashion.

The media totally missed this.

1794693 beers on the wall. sck was here