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I guess Wall Street just doesn’t understand that our economy is no longer an industrial one, but rather a financialized economy. And why should they? They are a part, in fact the largest part, therefore unable to see the forest because of the trees. What does this mean to us as investors? It means we probably have some time to get our house in order. A reasonable guess would be maybe a couple of years. However, when the light comes on it will undoubtedly be too late.
The following excerpt from Realtalk (ZeroHedge) says it well. Please pay attention. Low interest rates and high debt are a killer. All through the 1970s, 1980s, and 1990s we fought inflation. Now it’s gone and we have gotten more than we bargained for—namely deflation, and it will be with us for years.
Nomura: "BOOM, Roasted: The Fed's "Clown Car" Experiment Is Now Complete"
By Tyler Durden
Now time for some #REALTALK from the philosopher / pseudo-economist deep inside of me:
At the same time, we are again seeing the ECB re-engage in another TLTRO scheme (and already previously failed, save for creation of a credit mkt bubble). Look at the EGB curve. Look at the JGB curve. And outside of this nascent tactical “steepening” in UST 5s30s,
Powell yesterday: “’’ (to keep prices up).
But I’ve got news for you, Chair Powell. .
Near-term may be too bullish!
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