Is Cheney Betting On Economic Collapse?

The Veep's Curious Investment Portfolio

By MIKE WHITNEY

Wouldn't you like to know where Dick Cheney puts his money? Then you'd know whether his "deficits don't matter" claim is just baloney or not.

Well, as it turns out, Kiplinger Magazine ran an article based on Cheney's financial disclosure statement and, sure enough, found out that the VP is lying to the American people for the umpteenth time. Deficits do matter and Cheney has invested his money accordingly.

The article is called "Cheney's betting on bad news" and provides an account of where Cheney has socked away more than $25 million. While the figures may be estimates, the investments are not. According to Tom Blackburn of the Palm Beach Post, Cheney has invested heavily in "a fund that specializes in short-term municipal bonds, a tax-exempt money market fund and an inflation protected securities fund. The first two hold up if interest rates rise with inflation. The third is protected against inflation."

http://www.counterpunch.org/whitney07052006.html

:hi: :toast: :) :bounce: :hug:

:hi: :hug: :-)

That article was spot on!

you said it DJ13, the article is spot on! :hi:

He needs to invest for even more $. Sad.

"And, one thing we can say with metaphysical certainty is that the miserly Cheney would never plunk his money into an investment that wasn't a sure thing. If Cheney is counting on the dollar tanking and interest rates going up, then, by Gawd, that's what'll happen."

Those with money/investments might want to give this some thought.

if what he's invested in is


I presume you understand what those three vehicles are so I'm curious if you agree with the title of the piece quoted in the article by Whitney. (The Kiplinger article)

I am by no means a fan of Cheney, but those investments don't really sound as if he is betting on collapse. They sound conservative, but by no means speculative.

This was batted around DU at least 2 years ago when these revelations of his holdings came out.

but most of us here know and have open eyes to the eight years of the Bush administration's policies of corruption.

In 2004 a statement about Cheney from Paul O'Neill interview on 60 minutes:

The former treasury secretary accuses Vice President Dick Cheney of not being an honest broker, but, with a handful of others, part of "a praetorian guard that encircled the president" to block out contrary views. "This is the way Dick likes it," says O’Neill.

Bush Sought ‘Way’ To Invade Iraq? one of many examples how they do business.

http://www.cbsnews.com/stories/2004/01/09/60minutes/main592330.shtml

The Middle Class is disappearing and that is economic collapse.

Which you thoroughly dodged.

My eyes are open just fine, thanks. I just prefer to look at strange claims with skepticism, instead of swallowing them whole merely because they sound good.

You posted a thread with a curious title, taken straight from an article written 2 years ago by a fellow with dubious economic credentials, that has as its headline a statement that is incongruous with the content of the article.

"Is Cheney Betting On Economic Collapse?"

Well, based on the report that he holds a Short Term Municipal Bond Fund (a fairly common type of Mutual Fund, easily purchased by anyone from numerous fund families and a very conservative investment by almost any standards) A Tax Exempt Money Market Fund, (ditto) an inflation protected securities fund (ditto again) and, according to the article, "Cheney has dumped another (estimated) $10 to $25 million in a European bond fund which tells us that he is counting on a steadily weakening dollar." Again, a European Bond Fund is hardly exotic, there are scores of them available, offered by almost every major Mutual Fund family and is hardly something that could be considered as a bet that the economy will collapse. He might have done ok with the European Bond fund but at best he is getting a 5 or 6% yield.

So obviously the answer to my question; "can you explain how he is betting on economic collapse based on those investments?" is "NO".

You could have just said no.

I get it that Cheney is a douchebag of the highest order, but the article you cite is hyperbole and a bit of a stretch. Cheney didn't make any genius investment call based on insider info. It's about as insightful as guessing Northrop and General Dynamics stock would trade higher after 9/11.

I always post Mike Whitney's article that I feel is good and tells it like it is.
I had no idea there was a article with the same title as the article Mike wrote.



I remember you didn't like Jim Kunstler articles either.