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A Global ‘Losing The Long-End’ Moment?
Is the developed world staring down a fiscal crisis and a potential implosion of sundry hard/reserve
“Mo Money Mo Problems”
You are right again, damn it but Mel Gibson is an a##hole. You never use the word PONZI to describe today and you don’t mention Hyman Minsky (he did die) but he and I teamed up (off the record) for the concept of a 4 human generation cycle. Try them out – they all have been blow-outs – 1720, 1789,1865, 1940, 2025. Well, not yet. Stalingrad and Guadalcanal (1982) were the Mad Max events of the last Taylor-Minsky cycle. H. – you are making us think about the next. Thank you. The kids need us to stop it.
WHOOPS – one typo 1942 not 1982 – I am trying!
Indeed you are!
Let’s say (fantasy) powers decide to act to stop the madness … sure seems any solution would require cooperation & collaboration globally- yikes! These powers can’t even seem to rationally dialogue
So my fantasy is just that …can I have a can too?
Meanwhile, Swiss long rates declining.
How long does the Swiss army hold up if a major power decides, “Hmmm, There’s a lot of gold and stuff there, I think we’ll just take it” and nobody comes to help?
That same point applies to the Nordic countries and the Persian Gulf states and Singapore. So there really is no ohoice beside the EU (if there was such a place) or the U.S.
Switzerland holds investment for every country in the world. I think they don’t need their own military to protect them. Every other military has a vested interest in their independent banking remaining intact. That and the Alps remain a pretty impossible obstacle to overcome.
The Swiss are far from defenseless.
I dunno, I think we may need to live through Blade Runner before we get to Mad Max, though Silicon Valley types seem more intent on The Terminator instead.
Yeah, but Harnett also says “nothing more contrarian in ’25 than being long the long-end…we say return of bond vigilantes to = >5% GT30 yields cyclical buy opportunity.”
The Swiss will be fine. They all serve in their army (the men do, voluntary for the women) and are provided a fire arm upon discharge. Further, the safes have Dinky-Di in addition to the bullion.
I suppose that is a reason to try to get over the Alps or through the tunnels (that will be mined if it comes to it). I just don’t think it will be a successful venture.
Re Minksy: https://www.frbsf.org/wp-content/uploads/04161.pdf
What does the “laugh threshold” equate to in the MMT descriptive framework?
Well, that’s a good question. It’s really the question.
PayPal mafia and the Christian Nationalists are working fast to pull the plug and have us all on crypto. Funny lines of code will be worthless by the time we get to driving around in Ford Falcon Interceptors with our ACDs!