Don Coxe On Everything From The Markets Rolling Over, To Persistent Food Inflation, To The Coming US Sovereign Debt Crunch

We believe it highly probable that the US's fiscal problems will not be seriously addressed for at least two years, and that Obama will be resoundingly re-elected in a campaign demonizing Republican budget proposals. All polls show that most Americans believe the deficits can be eliminated without any cuts in Social Security or Medicare.

We would expect that, in a year or less, long Treasurys will trade at higher yields than many high-grade corporate credits.