Liquidity Crunch 2025: Refinancing Crisis Incoming?

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  • Опубліковано 24 лис 2024

КОМЕНТАРІ • 151

  • @maggielake-talkingmarkets
    @maggielake-talkingmarkets  15 днів тому +70

    Connect with me on Substack: maggielake.substack.com
    00:00 - Introduction: Global Debt and Inflation Risks
    00:01:20 - The Impact of Massive Government Debt
    00:03:40 - Liquidity’s Role in Financial Markets
    00:06:14 - Inflation and Debt Maturity Concerns
    00:10:10 - Federal Reserve’s Policy Dilemma
    00:15:00 - The Potential Recession vs. Debt Management Debate
    00:18:10 - Bond Market Volatility and Risks
    00:25:30 - China’s Role in the Global Dollar Demand
    00:32:40 - Japan’s Debt Challenges and Yen Weakness
    00:37:50 - Real Assets as Inflation Hedges
    00:45:20 - Closing Thoughts: The Importance of Inflation Control

  • @skillz4life360
    @skillz4life360 13 днів тому +6

    Howell is top 5 of global macro imo. Great video

    • @marcelogenin3016
      @marcelogenin3016 2 дні тому

      And another 4 are?

    • @skillz4life360
      @skillz4life360 2 дні тому

      @marcelogenin3016 I would say Ray Dalio, Raoul Pal, Stanley Drukenmiller, and I would even put Darius Dale up there even though he's still pretty young for OG status

  • @warrenburn7058
    @warrenburn7058 14 днів тому +7

    Outstanding guest. Thank you Maggie. Michael has been very accurate with his outlook.

  • @edwardkierklo9757
    @edwardkierklo9757 14 днів тому +6

    I have found your interviews to be among the best. I am familiar thus far with all the great guests and looking forward to new ones I might not be familiar with.

  • @largocaballero4914
    @largocaballero4914 14 днів тому +2

    Epic Michael Howell - you did well get more than most from him. Thank you.

  • @Readymikeone
    @Readymikeone 3 дні тому

    Awesome brain flex going on there. It’s not really possible to design a solid macro based investment strategy unless one puts in the time in to truly understand and embrace what Michael is explaining. He’s one of the few that
    can properly explain the e=mc2 of global markets, and how that plays into allocations across the big asset classes. Thanks Maggie 🏆

  • @bit5tr3am
    @bit5tr3am 14 днів тому +5

    Thanks for having Michael on, he’s terrific

  • @mkriskt
    @mkriskt 12 днів тому +1

    Thanks Maggie and Michael - wonderful discussion, lots of insights. God bless!

  • @Exliptic
    @Exliptic 12 днів тому +2

    Maggie you are the best interviewer!

  • @grooves.x
    @grooves.x 15 днів тому +15

    Waiting for Michael Howell!!!

  • @B_18200
    @B_18200 3 дні тому

    Michael is awesome! Thank you!

  • @thehungergames8918
    @thehungergames8918 14 днів тому +4

    Gold and silver are not a bad idea to hold.

  • @dnsinogeorgos
    @dnsinogeorgos 15 днів тому +9

    Maggie you did it again, can't wait for what's coming up next. Amazing insights as always 🔥

  • @simplyleo644
    @simplyleo644 9 днів тому

    Very insightful of the bond markets. Great work Maggie & Michael.

  • @brianhanly7280
    @brianhanly7280 14 днів тому

    Great interview, always love to hear Michael Howell's perspectives

  • @Stev616L-d2d
    @Stev616L-d2d 14 днів тому

    Great stuff guys…… the real stuff !

  • @ryanotis7289
    @ryanotis7289 7 днів тому

    This conversation is sandpapering me to death

  • @AnthonyGiallourakis
    @AnthonyGiallourakis 15 днів тому +6

    Brilliant interview. Highly recommended.💫💫💫

    • @maggielake-talkingmarkets
      @maggielake-talkingmarkets  15 днів тому +1

      Thank you, Michael was awesome!

    • @AnthonyGiallourakis
      @AnthonyGiallourakis 14 днів тому

      @@maggielake-talkingmarkets Yes. Few people understand both the reality of the current financial markets and are willing to talk so clearly and frankly about it. I have sent links to this video to several managers and advisors, strongly suggesting they take Michael's opinion into consideration.

    • @AnthonyGiallourakis
      @AnthonyGiallourakis 12 днів тому

      @@maggielake-talkingmarkets Something to think about. What if Israel proceeds with a strike on Iranian oil production now? Biden supports with the US military to gain new administration favor. US gets higher oil prices (more tax revenue). Russia gets the same (deal to end the Ukraine war on acceptable terms). Musk sells electric cars..... China loses and has to buy more US and Russian oil at much inflated prices (profits). Israel ends the means by which the Iranians can support the multi-front proxy assaults. Inflation picks up (but it's on the Biden watch). This cannot happen once the new administration is in, because it will tag them with the negative associated with +$120 oil.

  • @330trillion
    @330trillion 9 днів тому

    We are glad Maggie and Michael are coming to their senses. We will own it all and you will be happy.
    Join the trillionaire revolution.

  • @jmcmob608
    @jmcmob608 12 днів тому

    Thank you very much...

  • @davidkteacher6933
    @davidkteacher6933 15 днів тому +7

    Great guest

  • @angelawinstone7236
    @angelawinstone7236 14 днів тому +2

    Maggie, so pleased I found you, after you left Real Vision! You are a brilliant interviewer. You keep the pace well, and always steer the questions in such a thoughtful and intelligent way. Thank you for having Michael Howell on. He’s the liquidity Grand Pooba! Please have him on once a quarter, to keep on top of this critical element affecting markets.

  • @ronaldphoong
    @ronaldphoong 14 днів тому +2

    The more the country borrows, inflation continues to grow. It's common sense. 😅

  • @lak1294
    @lak1294 15 днів тому +15

    Michael is making great points, especially: lower interest rates don't necessarily equal increasing liquidity and, if higher growth (as Trump promises) reignites inflation, the higher prices individuals and companies have to pay reduces cash available for investment and the stock market.

    • @golanheights9000
      @golanheights9000 15 днів тому +1

      Plenty of deflationary growth to be had.

    • @omrit2
      @omrit2 15 днів тому

      He's wrong. Liquidity will continue to rise with expanding fiscal demands and money debasement.

    • @bobbykanae
      @bobbykanae 15 днів тому +1

      At least with lower interest rates people will have access to cheaper capital again, the economy sucks hard because during the low interest rate environment the gov was competing against businesses and citizens with an unfair advantage of endless money printing. The collective goal is to increase productivity and efficiency or we’ll be back to square one (or worse)

    • @lennybriscoe6133
      @lennybriscoe6133 13 днів тому

      ​@@golanheights9000Only in an Austrian wet dream that never happens.

    • @lennybriscoe6133
      @lennybriscoe6133 11 днів тому

      ​@@golanheights9000Wrong. That fantasy lives only in the feeble juvenile mind of Austrian economists.

  • @thomasthornton5125
    @thomasthornton5125 15 днів тому +1

    good conversation.

  • @riffsoffov9291
    @riffsoffov9291 14 днів тому

    From S&P Global's Q3 earnings call:-
    Now, turning to Ratings, where we saw revenue growth accelerate to 36%, materially exceeding our internal expectations. Transaction revenue grew by 83% in the third quarter, driven by strong activity, particularly in investment-grade and high-yield bonds during what has historically been a seasonally quiet summer period.
    I'm fairly sure that when I listened, the transaction revenue was linked to the volume of debt being issued, but I can't find that in a transcript. Anyway, I'm wondering if the 83% growth could signal an early start to liquidity getting stretched relative to the debt that needs refinancing. I'm very wary of drawing anything like a firm conclusion, due to my lack of expertise, but maybe someone can tell me if it's a big deal or a nothingburger, or knows someone who can.
    Thanks for the video Maggie, great guest!

  • @brian00182
    @brian00182 15 днів тому

    Thank you, great conversation!

  • @detectiveofmoneypolitics
    @detectiveofmoneypolitics 15 днів тому +1

    Detective of Money Politics is following this very informative content cheers from VK3GFS and 73s from Frank from Melbourne Australia 😊

  • @barilibill4749
    @barilibill4749 14 днів тому +1

    Maggie, could you have Brent Johnson on your show? He’s on all the financial shows, but I would like you (best financial interviewer) because you always know how to bring out different questions than he

    • @omrit2
      @omrit2 14 днів тому

      He's a broken record, and mostly wrong in past 2 years.

  • @thecarpenter645
    @thecarpenter645 14 днів тому

    One thing that we all have in common with liquidity is what goes with liquidity and flows in the opposite direction to liquidity, it’s good collateral and that’s what’s going to affect the availability of liquidity a lot. Just my observation only.

  • @MarkhallPete
    @MarkhallPete 8 днів тому

    Those cayman islands UST marginal buyers are non other then USDT stable coin funds. Brilliant idea whoever came up with it.

  • @fvensson6200
    @fvensson6200 12 днів тому +1

    What about inflating the debt away like Gromen suggests is the only way out? Isn’t that more likely than the government decreasing defense and social security? And how does that not equal increased liquidity?

    • @lennybriscoe6133
      @lennybriscoe6133 11 днів тому

      Bingo. Trump, the self-named king of debt, wants 0% rates and high tariffs and low taxes all of which are inflationary. Mass deportations will spike the wage spiral and ..... oh what could go wrong with the bond market I wonder.

  • @277trillion
    @277trillion 9 днів тому

    Debt levels kept rising. Only the most valuable companyjurisdiction on the planet can save it.

  • @Venkatmohan2000
    @Venkatmohan2000 14 днів тому

    Debt is Exactly equal to Liquidity. Period. One person’s asset is the counter party’s liability.

  • @ryanotis7289
    @ryanotis7289 7 днів тому

    So you say they’re kicking the can down the road?! Interesting, pls go on

  • @thetruthrenegade
    @thetruthrenegade 13 днів тому +1

    Aha Moment thanks to Michael, Like Bud Fox said in Wallstreet, Everyone is doing it. EVERYONE IS PLAYING THE DEBT REFINANCE GAME....Your Parents, Your friends on their houses, Small Business owner, Mega Cap Businesses, Gov's Etc.

  • @artfuldiggs2206
    @artfuldiggs2206 15 днів тому +2

    Good guest, good questions. Thank you. The next few months and years could be very interesting. I plan to stay tuned to your show.

  • @RWROW
    @RWROW 15 днів тому +1

    Maggie, hi and thanks. I think you are in David Lin's class in terms of perceptive questions. Just read Lacy Hunt's latest economic analysis from Hoisington's site and his take seems counter to Mr. Howell's. He expects deflation. Yet both have credible supporting arguments. Am I right in seeing them as contrary views, and why are they so different? Be good to hear one react to the other, or a conversation between these two.

  • @sumitomoO0O
    @sumitomoO0O 13 днів тому +1

    when bond yields run higher, Trump will not increase taxes, he will force FED to do yield curve control and he will say inflation is a good thing because it shows the economy is vibrant

  • @thomasthornton5125
    @thomasthornton5125 15 днів тому +10

    Debt junkies will fix the problem of too much debt with... more debt

    • @asclepiushermestrismegistu7489
      @asclepiushermestrismegistu7489 14 днів тому +1

      Afterall the same people who created the mess has the solutions. Moving along nothing will be fixed.

    • @bpb5541
      @bpb5541 14 днів тому

      i think that is true until we get a bond market revolt... Like I don't know, the FED cutting rates and yields going up not down. We might just get our faces ripped right off. 😂

  • @GoldTau-o6f
    @GoldTau-o6f 11 днів тому +1

    This mf knows what he’s talking about.

  • @Richard-y5u
    @Richard-y5u 15 днів тому +7

    Will all end in tears just like his first term, I doubt Musk and Trump will even be talking by the time he takes office. Liquidity may well be coming to an end sooner than Michael thinks.

  • @jaym9846
    @jaym9846 6 днів тому

    What ticker measured bond volatility?

    • @Dastram12
      @Dastram12 4 дні тому

      @jaym9846 MOVE index

  • @smsfelipe
    @smsfelipe 13 днів тому

    Still don't get how higher demand for treasuries due to refinancing wall is negative for liquidity. They will simply issue as much as needed.

  • @danfarrand9072
    @danfarrand9072 14 днів тому

    Lets also remember that higher interest rates means higher income to creditors.

  • @Venkatmohan2000
    @Venkatmohan2000 14 днів тому +1

    Deflation is the major bogey I see next year. Not inflation.

  • @omrit2
    @omrit2 15 днів тому +1

    Howell is wrong about the debt wall and refinancing puting pressure on liquidity. The Fed will expand it's balance sheet to support ever rising fiscal spending. Global liquidity will continue to be on the rise.

  • @klmn2000
    @klmn2000 14 днів тому +4

    A masterclass in talking a lot without saying anything at all.

  • @masonsteed7835
    @masonsteed7835 13 днів тому

    Not a peep on balance sheet policy from the Fed was tragic

  • @waltertodd4479
    @waltertodd4479 15 днів тому +2

    Trumps hand isnt tied by the finance / bonds markets. He intends to reduce regulatory burdens. Growth will come by freeing or unrestricting markets to do what they do best.

    • @bpb5541
      @bpb5541 14 днів тому

      You are dilusional. Sorry Bro: Trump has said he'll bring down mortgage rates - even though 15- and 30-year mortgage rates are fixed, and tied to Treasury yields and the economy. Trump's victory even spurred a rise in the U.S. 10-year Treasury yield, sending mortgage rates higher. And the only thing that solves the debt crisis is more debt. Problem is inflation is really high and stock market valuations are 4 times as high then when he was last in. NO next we go down... how we get there I am not sure. It could be a hyperinfatioanry depression, an out right deflationary depression, or staglfationary deprssion the likes we have never seen. But we get one of those pick. Growth is not coming... we inflate so bad people can't afford anything. Who is going to be buying all this stuff at all time highs... with the purchasing power of the dollar going down... and now with Trump back on office even fast? I think folks think the next 15 years looks like the last 15 years and I think they are very wrong. Next I think we pay for the "sins of the father (both sides)". We just need to watch that 10 year yield it tells all. And it doesn't listen to Trump or Powell or Harris or any of those clowns !!!

  • @JohnInvest17
    @JohnInvest17 14 днів тому

    Michael Howell, the legend, the guru of Global Liquidity!

  • @togoni
    @togoni 15 днів тому +2

    👏👏

  • @danfarrand9072
    @danfarrand9072 14 днів тому +1

    Who cares what the interest bill is as long as Treasury can sell debt. That is the way government will always think. Why talk about raising taxes when people dont want to hear it and it's easy to sell more debt. As long as there are debt buyers, then debt is the answer.

  • @peterbedford2610
    @peterbedford2610 15 днів тому +2

    The gov now requires high liquidity and inflation to keep running.
    Howell has been on point for years now

  • @CJGification
    @CJGification 11 днів тому

    Mike is the fucking GOAT

  • @240trillion
    @240trillion 9 днів тому

    It started out all innocent, but became serious. Debt levels. Only one companyjurisdiction on the planet can save it.

  • @simrans3675
    @simrans3675 9 днів тому

    Woah - You moved from RV :-)?

  • @bluesky2145
    @bluesky2145 14 днів тому +3

    I don't think you'll find Trump raising taxes because he wants to pander to the rich and also he doesn't care if half the government gets laid off. I don't think you're quite understanding how this nut job works

  • @Louis-fn2nq
    @Louis-fn2nq 13 днів тому

    I would like a debate between Howell and Raoul Pal because it seems you guys have completely opposing views

  • @AnonymousanonymousA
    @AnonymousanonymousA 12 днів тому

    heard healthcare was the highest cost to GDP In the USA in 2020

  • @far1762
    @far1762 14 днів тому

    Vedem, cine, are, dreptate, myine, seara, totuy, gata, tympu, nu, sta, în, lok⌛, ce, zycy?

  • @MissMyRyan
    @MissMyRyan 15 днів тому

    $BTC currently, ATH: $80,500 USD

    • @bpb5541
      @bpb5541 14 днів тому

      Just me.. I think BTC goes below 15k before it goes to a million. Just know you might be in for a bit of ride. That sell off is not a sell event... it is a massive back the truck up long event.

  • @adamm2716
    @adamm2716 14 днів тому

    i don't mind powell staying i rather have the fed and the exc at odds, it's part of what made trumps first term work much better than when the fed aligns with the exc and you get what we got last 3 years

  • @barilibill4749
    @barilibill4749 14 днів тому

    Sorry, sent send accidentally; you have a way of getting different answers by your questions

  • @vincentmurphy9252
    @vincentmurphy9252 15 днів тому

    We need a depression not recession but your right 100% we need a hard recession like end of 70s type

  • @wyattgormley3129
    @wyattgormley3129 14 днів тому

    Not sure it’s hedge funds buying treasuries out of the Cayman and Luxembourg, fairly sure it’s banks…

  • @georgelien
    @georgelien 14 днів тому

    I cannot agree with him more 😂 This is why I have been trading 30Y bonds and TLT ETF, of which, giving me 8% and 15% returns since 2023

  • @gussoldtimeradioshows4902
    @gussoldtimeradioshows4902 14 днів тому +2

    WRONG...Liquity faucet is being turned on in a couple months. Low rates, low taxes, low inflation

    • @lennybriscoe6133
      @lennybriscoe6133 11 днів тому

      Impossible to have low rates, high tariffs, high debt, and low inflation without a productivity miracle. Get real. Trump is insane.

  • @Fiscus128
    @Fiscus128 7 днів тому

    Save yourself some time and jump to the obvious conclusion: inevitable monetary inflation is coming, so hedge against that by investing in real assets, gold, (potentially) bitcoin....... let me guess, the speakers have already invested in it.

  • @adamm2716
    @adamm2716 14 днів тому

    did he really just say trump's not interested in fixing the fascial problems? there is going to be a new committee dedicated to just that. has he even been paying attention?

    • @lennybriscoe6133
      @lennybriscoe6133 11 днів тому

      Trump is a debt junkie. He will wreck the budget because you can't cut enough spending to offset SS/Medicare/defense spending while raising inflationary taxes like tariffs and dumping interest rates to 0. There won't be any tax revenue either. His budget is garbage and lies.

  • @ZoomedOut2020
    @ZoomedOut2020 15 днів тому

    Wonderful insights and perspectives….
    I’ve spent the past week asking the tea leaves whether Trump is the next Hoover- or is he perhaps the next FDR..??
    I’m going with the Hoover template….The Great Fixer gets handed the steaming bag of 💩 poo…👀👀

  • @RWROW
    @RWROW 15 днів тому +4

    Trump has a history of defaultingon his debt. Will he do it with government debt?

    • @asudbury817
      @asudbury817 14 днів тому +1

      Great point 👏

    • @bpb5541
      @bpb5541 14 днів тому +2

      Or he just doens't pay it... but I hear you. I think we are at greater risk now of a US default than in any other time in history. He goes and screws around too much not only is Japan and China gonne even stop buying less US Debt (now net sellers), the EU is going to join in ... and if that happens that leaves one option.. and that option is for the FED to come in and be the buyer of last resort... so monitiaztion of the debt which make inflation surge and people around the world to want our debt even less. And this is exactly what I think happens.

    • @peterbedford2610
      @peterbedford2610 13 днів тому +1

      Defaults on most of his promises, actually

    • @lennybriscoe6133
      @lennybriscoe6133 11 днів тому

      He will default as he always does, but he'll default in real terms.

  • @raw-bot9251
    @raw-bot9251 13 днів тому

    Maggie and Raoul Pal ahve branched off building their own channels. It's some strategy that's got to do with revenue generation I'm sure!

    • @CoolHandL-u3h
      @CoolHandL-u3h 10 днів тому

      Afaik Maggie isn't at Real Vision anymore

  • @barrettl2473
    @barrettl2473 14 днів тому

    It’s so funny to hear people say bitcoin just tracks with risk on assets or even that it is correlated to liquidity..
    There are very few risk assets with anywhere near its performance in the last whatever timeframe… and has global liquidity gone up %8700000 or whatever in 15 years? 😂😂

    • @barrettl2473
      @barrettl2473 14 днів тому

      You guys are minimizing an asset that you don’t understand and I would suggest not talking about finance going forward until you do. The world has changed.

  • @to2455
    @to2455 13 днів тому

    Massive Debt Issuance.. Unparalleled Financial Engineering .. Globally Aging Populations.. Short Term Inflation.. Looong Term Deflation…!!

  • @Mantaray911
    @Mantaray911 15 днів тому +1

    08:45 shoutout to Brent J and his $ Milkshake Theory.

  • @adamm2716
    @adamm2716 14 днів тому

    most of the economist i've watch interviews for are worried about deflation from trump policies and he's worried about inflation, interesting

  • @SoleilRoiLe
    @SoleilRoiLe 14 днів тому +1

    No more subsidies. Do not treat "interest paid" as a tax deductible "expense". And don't tax interest income. Yes, this should apply to individuals and businesses. Mortgage interest paid by individuals and businesses should not be subsidized as an "tax deduction". Share buybacks should be from retained earnings. Tax laws should be simple. And enforced.

  • @400trillion
    @400trillion 9 днів тому

    We are way passed rookie debt levels.
    We will own it all and you will be happy. All elites gift your assets to the overlord as you preach to the masses. Live as you teach. Give all to your king cash. A nice hard working life awaits you in the fields, tilling the soil, repenting your monetary sins.

  • @PonziZombieKiller
    @PonziZombieKiller 14 днів тому

    Black ☠️ Monday

  • @asclepiushermestrismegistu7489
    @asclepiushermestrismegistu7489 14 днів тому

    Are americans willing to let go of the snap, ebt etc benefits? Will you give up your car? Let's start there?

    • @bpb5541
      @bpb5541 14 днів тому

      Well i think inflation comes roaring back while growth slows (regardless of what folks think is going to happen) so stagflation like the world has never seen. They are not just going to give up their car... but they are going to give up their jobs, and their houses too. I worry for folks.

  • @russelasutilla8500
    @russelasutilla8500 14 днів тому

    🙋🏞️🌻❤️

  • @illfunk1967
    @illfunk1967 12 днів тому

    350 trillion debt! 😳 that’s a result of money creation right and increase in money supply is inflation.. let me know if my understanding is wrong. Not as clever as this guy 😂

  • @AloysiusSchicklgruber
    @AloysiusSchicklgruber 11 днів тому

    As the fetid fragrance of old rotting debt permeates global capital markets on the hIll the president elect prevaricates and obfuscates preaching to bring home manufacturing while investing heavily in reserve currency status. The absurdity of Triffin's paradox sharply appears...

  • @davebrewer7170
    @davebrewer7170 15 днів тому

    Idiot comments Trump won’t raise taxes Duh Invalidates all comments

    • @bpb5541
      @bpb5541 14 днів тому

      Agree but he does do this again: But he was deadly serious about cutting taxes, and his signature legislative achievement, the Tax Cuts and Jobs Act of 2017, gave corporations a 40 percent discount on their taxes. It also delivered one of the single largest tax cuts for the wealthy in U.S. history, with the richest 0.1 percent of Americans getting a tax cut that was 277 times larger than that of middle-class households. While the bill didn't live up to its promises of higher pay for workers and increased economic growth, it did line the pockets of shareholders and CEOs, and added $1.9 trillion to the deficit. Are you rich? Just curious?

    • @davebrewer7170
      @davebrewer7170 14 днів тому

      @ his tax cuts benefited working class, whose salaries expanded during Trump 4 years. Portion of total pie going to lowest quartile of workers went DOWN during Obama terms and during Biden term. Stop going with slogans and focus on facts. Biden policies INCREASED the wealth gap. I suspect we are fully aligned that a large and increasing wealth gap is bad for society and bad for America. We are aligned on that goal ? Trump policies resulted in progress towards narrowing the wealth gap and Biden policies increased wealth gap. Those are facts

    • @peterbedford2610
      @peterbedford2610 13 днів тому

      No, he said it was highly unlikely

  • @seymorefact4333
    @seymorefact4333 14 днів тому

    ✅✅NEED TRUMP NEGATIVE INTEREST RATES from his prior term! and ZERO ZERO TAXES ON INCOME, CAPITAL GAINS, SOCIAL SECURITY, TIPS, etc! this will jump start the ECONOMY with more hiring and buying! ✅✅

    • @lennybriscoe6133
      @lennybriscoe6133 11 днів тому

      LOL. That's a recipie for high inflation and wildly big deficits.

  • @hankhenry5902
    @hankhenry5902 15 днів тому +1

    Trump is moving the bureaucracy out of DC out to the various states around the country. Right there 10 to 15 % of bureaucrats will quit or retire. Government spending will drop and the private sector, manufacturing will sore. Howell is far too negative!

    • @peterbedford2610
      @peterbedford2610 14 днів тому +1

      Yes. And Santa ivlause is real😂

    • @bpb5541
      @bpb5541 14 днів тому

      There is no way in hell this happens. It sounds good though. What would make the US Govt do some austerity would be that 10 year yield continuing to climb... that just might rip everyone's face off. Of course folks would look at it like a "financial accident, or crisis". It is not either .. it is coming because everyone has a needle in their arm... the drug... free money. It is going to kill us all. 😂

  • @Svoboba
    @Svoboba 7 днів тому

    Short Bonds!!!