Discussion about this post

User's avatar
Sandy's avatar

It's a house of smoking mirrors...its a microcosm of all of the shitshow dynamics we are living thru...

In the developed world since the Great Moderation, macroeconomic policy can be boiled down to one simple rule – prop up asset prices. In the Anglo-Saxon world, the rule is even simpler – prop up house prices. Never forget this...So much misinformation...so many agenda's...So many competing incentives...You can bet when the FURUs come on TV they have already placed there bets to front-run all!

** Companies have announced $173.5 billion worth of planned buybacks so far this year, just over double last year's pace, according to data from EPFR TrimTabs as of Monday. In 2022, buyback announcements reached a record $1.22 trillion, according to EPFR TrimTabs. Shhhhhhh....

Great work...Last Bear! and to be clear...I am not complaining, I have/will place my bet, I just dont believe anyone individual or any other Political-Tribal-Belief BS!

Expand full comment
Philip Feldman's avatar

Fantastic read, as always.

INFLATION: This same time last year, inflation numbers were peaking, meaning the change in price from the same month of the previous year was significant. Even if inflation numbers in terms of % are lower when compared to this peak last year, the impact is not linear, its an increase on top of an increase! I know that reports are simply showing a trend in the correct (lower than last year) direction, but I believe the impact is underestimated. In other words, what are people so happy about, not only have we not stabilized, but we continue to climb!

FED CONCERNS: You claim that the fed cares more about stability than inflation, I am wondering if you considered the extremes or that inflation can also mean instability in society (due to affordability). I am referring to historical events of hyperinflation leading to currency failure. Being the reserve currency definitely helps manage this, but I do believe that this risk is more significant than the one of depression/stability.

I believe that the concept of MMT can only work if we aggressively reverse the borrowing during times of growth. Unfortunately the nature of human greed will make these efforts virtually impossible.

Expand full comment
30 more comments...

No posts