There is a price for cheap ‘Friends’. That cost is starting to play out in many different ways in 2010 and beyond.
Nothing is free. Someone pays.
Jon Markman posted an interesting message on Stocktwits tonight ( I will continue to cut and paste…forever):
Incredible how cheap money is in the world, ex-Greece. US junk bond yields are 8% & Russia just sold $5.5B in dollar bonds for 5.08% $$
It is amazing how MUCH someone will pay for junk on Ebay and how LITTLE an investor wants for JUNK in the bond market.
I will stick to cheap wine for the remainder of 2010 and see how this plays out…