Keynesian Time Bomb – Daniel Lacalle – @dlacalle_IA
Global Trade Contraction – Pater Tenebrarum – @Acting_Man
Emerging Markets – Robin Brooks – @RobinBrooksIIF
Turkey – Holger Zschaepitz – @Schuldensuehner
Debt Exposure to Turkey – Daniel Lacalle – @dlacalle_IA
Turkey Turmoil – Lance Roberts – @LanceRoberts
Bitcoin’s Big Problem –Audio– Scott Lanman – @scottlanman
Monetary Aggregates Charles Gave – Jesse Felder – @jessefelder
Quarterly Earnings – John P. Hussman – @hussmanjp
Accounting Gimmicks – Sven Henrich – @NorthmanTrader
https://twitter.com/NorthmanTrader/status/1028355487614599168
Mike “Mish” Shedlock
“We’re all in this together” has never been more true.
For twenty-plus years I’ve felt like everyone is engaged in a vast Jenga tournament, where politicians, central bankers, corporate executives and general people have each stacked their respective towers higher and higher, goaded on by the rising towers that surround them.
Every time since 1995 that someone’s tower fell I thought it would tip into everyone else’s, producing the biggest game of Falling Dominoes ever. But it was not to be, and the game of stacking blocks higher simply resumed as if nothing had happened and all people took for granted that no matter how high the towers were stacked, nothing systemic, cataclysmic or life-altering could occur…after all, “WE” were so smart (ah, who, exactly, is this “WE” to which I refer?) that no matter how high the debts rose, no matter how broad the promises of future cash flows grew, ALL WAS WELL, keep stacking on top of your tower.
I sincerely maintain that the unimaginable growth of debt (and all the economic activity on which it depends), the export of industry, the rise of one asset-stripping scheme after another, the enthusiasm for open-borders immigrant invasions and shuffling together of people whose cultures are immiscible…all of it rested on a once-in-centuries bull market in social (collective) trust that grew to the point of being a mutual suicide pact.
Years ago Prechter coined the term, “All the Same Market.” I submit that all of our existence is crowded onto One Side of the Trade.
I just loved these charts. The chart of global monetary base show the huge bubble blown during the US housing bubble. Central banks have tried to reduce the rate of money supply, but then have to turn the printing presses back on. It seems the market drive the central banks, not the other way around.
Interesting that the tweet’s estimate of around $60k dollars per Japanese person for J Gov bonds is the same as US Gov debt per American person.
But..but..the BIS says that JGB’s and UST’s are “risk-free” assets.
lol…
There will be bag holders.
Lots of bag holders.