{"id":6416,"date":"2011-07-01T14:11:43","date_gmt":"2011-07-01T19:11:43","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=6416"},"modified":"2011-07-01T14:25:29","modified_gmt":"2011-07-01T19:25:29","slug":"cantor-could-rake-in-windfall-if-debt-ceiling-isn%e2%80%99t-raised","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2011\/07\/01\/cantor-could-rake-in-windfall-if-debt-ceiling-isn%e2%80%99t-raised\/","title":{"rendered":"Cantor Could Rake In Windfall If Debt Ceiling Isn\u2019t Raised"},"content":{"rendered":"

The article Cantor could rake in windfall if debt ceiling isn\u2019t raised<\/strong><\/a> explains:<\/p>\n

House Majority Leader Eric Cantor’s (R-VA) latest financial disclosure statement indicates that he owns up to $15,000 of ProShares Trust Ultrashort 20+ Year Treasury EFT, a fund that will likely skyrocket as U.S. debt becomes less desirable.<\/p><\/blockquote>\n

This is almost a perfect example of Greenberg\u2019s Law of Counterproductive Behavior<\/strong><\/a>.<\/p>\n

For any of you who could not understand how any patriotic Senator could stall raising the debt ceiling and possibly crashing the U.S. economy, maybe you just did not understand that Senator’s motives.\u00a0 Greenberg’s law tells you why you are barking up the wrong tree.\u00a0 It just doesn’t tell you which tree to bark up against instead.\u00a0 Even so, from understanding the law, you could make a pretty good guess as to where to look.<\/p>\n

According to\u00a0 fund’s\u00a0 summary description<\/strong><\/a> posted on Yahoo!:<\/p>\n

The investment seeks daily investment results, before fees and expenses and interest income earned on cash and financial instruments, which correspond to twice (200%) the inverse (opposite) of the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index.<\/p><\/blockquote>\n

I presume that means if the index falls by half, Cantor could double his money.\u00a0 If the U.S. defaults, I don’t know if a 50% fall of the index\u00a0 is as bad as it could get.<\/p>\n

This brings on another application of Greenberg’s law.\u00a0 Why would Cantor sell out his country and risk going to jail for a measly $15,000 profit.\u00a0 Counter intuitive behavior?\u00a0 Maybe we don’t understand the full amount he stands to gain.<\/p>\n","protected":false},"excerpt":{"rendered":"

The article Cantor could rake in windfall if debt ceiling isn\u2019t raised explains: House Majority Leader Eric Cantor’s (R-VA) latest financial disclosure statement indicates that he owns up to $15,000 of ProShares Trust Ultrashort 20+ Year Treasury EFT, a fund that will likely skyrocket as U.S. debt becomes less desirable. This is almost a perfect […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[],"class_list":{"0":"post-6416","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-greenbergs-law-of-counterproductive-behavior","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/6416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=6416"}],"version-history":[{"count":7,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/6416\/revisions"}],"predecessor-version":[{"id":6418,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/6416\/revisions\/6418"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=6416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=6416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=6416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}