Adios 401k

The Market Ticker smells smoke coming out of the treasury market:

Now this is a guaranteed rape job. In a short conversation this noontime that CNBC apparently has omitted from their archives (Why’s that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market. Where would they get this?

From your 401k and IRA accounts!

I find it very difficult to believe that the fiscal and monetary authorities would be that stupid. On the other hand, perhaps they’re just that desperate. California is on the verge of melting down again, house prices are looking ready to start collapsing soon, and the only reason that U3 unemployment isn’t worse is because the size of the labor force continues to shrink despite continued immigration.

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