Turns out investors are sick of watching their (maybe) hard earned wealth disappear before their eyes everyday, so they're making the safest bet of all and buying up US government debt. Our bowling buddy and his co-author, who is just some dude we don't know, write that this is "the market equivalent of shoveling cash under the mattress," which means that putting your money anywhere else is like shoveling cash into a roaring furnace. While such irresponsible opulence was once considered "good sport," now even the maddeningly wealthy would prefer to play it safe.
Prospects are so grim, in fact, that
...for a brief moment, investors were willing to take a small loss for holding another ultra-safe security, the already-issued three-month Treasury bill.
Times are tuff when a guaranteed loss counts as a good bet and your mattress is literally a better place for your money than in the market. If you are too stupid to do what is right and stuff your money in your sleepin' box, but you're thinking, "all this talk about mattresses gives me an idea," the the video below is for you.
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