Holy head-turn! Frumpy/smart free-market newsletter The Economist posted a blog with the following headline yesterday: “America, savvy investor” (what, too reserved for title case over there?) Here’s the real nut:
On top of the return to near normalcy in credit markets, we have the fact that the American government is earning some nice returns on its investments.
What does that mean? Well, the govmint has about $11 billion in paper profits right now on its Citigroup
bailout investment. Pretty, pretty good. (Man, if I was the govmint I’d pull out now and buy, like, some jetskis and shit and just live large. But I am not.)