RE:RE:psychosis
ValuePro wrote: If these people are correct (and don't trust Bloomberg), then POG should continue trending down. I don't see that. But then I don't have advanced degrees in business or economics. Nor do I hold a privileged in a Manhattan-based brokerage.
However, I am a historian of sorts, and I most certainly recall how bond sellers were extremely aggressive from '76-'78 going into the great inflation ending in early 1980. They were saying that investing in anything other than bonds would be a losing endeavor. They were grossly wrong and probably aware that they were lying.
I suspect that the article you put up is just another example of bond sellers try to salvage what they can ahead of an inflationary storm.
VP
Hi VP.
Seems that no one doubts that the world is awash with debt. Also, that we've evolved past the financial brainwashing paradigm that debt can be turned into an asset (or "a bond").with the added secret sauce known as the "promise of payment".
Now, the common thinking has embraced the reality that it all cannot be paid back. In fact, only more debt is the answer to everything. No longer an asset, but an essential runaway process.
One good sovereign debt crisis and the goose is cooked. Or maybe it's Turkey. Who knows.
Oh ... the joyous sounds of drunken high school kids careening over the local Seneca Cliff in their mother's Mercedes. Followed by the thunderclap of twisted metal and busting glass, silence, and then a useless siren heard far away in the distance to close out the scene.
What else can we expect?
Tx