Replies (15)

Z2theach's avatar
Z2theach 1 year ago
They don’t care at this point. $20 eggs? $10 gas? Anything to keep the charade going.
will be interesting to watch.. funny, just another form of yield repression, so bond holders continue to lose anyway… but they have their blankie to snuggle for now.
If Japan starts it will only be the first of many.. that's the real fear. US debt is no longer the Pristine risk off asset it used to be, and almost everyone understood it and is act accordingly..
Bailing out countries that look like they might sell US bonds? I see nothing that could go wrong there. Surely other countries holding bonds will not notice and keep pretending their bonds are worth something. View quoted note →
The yen carry trade , underwritten by the superhuman work ethic and productivity of the Japanese salaryman, has kept the west afloat for about 4 decades. That perpetual motion machines wheels are now falling off. The west's economies will sink without a trace.