J&J a Safer Bet than USA?
Interesting points from Kevin Williamson:
- The yields on J&J, Proctor and Gamble, and Berkshire Hathaway bonds are less than the yield on US sovereign debt
- Moody’s and S&P have considered downgrading US bonds from AAA to AA
- The cost to insure CA bonds against default is the same as the cost to insure Iraqi bonds against default
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