Dick Cheney does the math

Or at least his financial advisers can.

Kiplinger's, via MSN Money, are reporting that Dick Cheney is betting that the economy is going to tank. When you take a look at the numbers: the deficit, the state of the dollar, the price of energy, stagnant wages, and the way that the economy is only being propped up by consumer spending, it's hard to be optimistic about the economy. And apparently, despite what he says, Cheney's not betting his own money on the success of his and George's economic policies.

He's put at least 10 million in a municipal bonds fund that will only do really well if interest rates keep rising; at least another mil in a money market fund that also depends on rising interest rates; and at least 2 million in "inflation protected" securities. Inflation protected securities are basically bonds and bond-like securities that pay a low interest rate, but that are structured to ensure that the principal grows with inflation. They're really only a good investment if you believe that inflation is on the rise and the dollar is going to sink.

Overall, our vice president has somewhere between 13 and 40 million dollars invested in things whose performance is based on interest rates and inflation rising, and the dollar tanking.

According to the same public disclosure documents from which this information was originally taken, his net worth is somewhere between 30 and 100 million. What that means is that it looks like the majority of his fluid money is solidly bet against the success of the policies of the government he is a part of.

Not pretty. But what did you really expect from a corrupt, power-hungry asshole who considers the government to be a great big racket for rewarding his buddies?

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Posted on: July 7, 2006 10:28 AM, by Mark C. Chu-Carrol

http://scienceblogs.com/goodmath/2006/07/who_would_have_guessed_dick_ch.php#trackback
(original information from msn.com - link below)

Source article here: http://articles.moneycentral.msn.com/Investing/Extra/CheneysBettingonBadNews.aspx