Treasuries and Protecting the Future
Burton G. Malkiel's assessment that 10-year Treasuries are a sure loser is an understatement at best ( op-ed, March 23). Not only will the inflation-adjusted return likely be negative, but Treasury investors are also enabling continued irresponsible government spending that will eventually reduce future growth and lower investment returns while inflating tax rates out of necessity rather than choice. Now, there's an intelligent investment strategy.</br></br>Maybe we need a grass-roots movement from the investment community that tells the government we will no longer buy this "junk" until you resolve the debt and deficit debacle. More importantly, the real question is: What does the prudent investor do now to protect himself from his own government?</br></br>Scott Campbell</br></br>Rhinelander, Wis.</br></br>Mr. Malkiel doesn't address the level of debt in the economy or the likely permanent changes in consumer behavior as it relates to debt, yet cites emerging markets as having "better fiscal balances."