Debt Rattle April 15 2016
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Gottscho-Schleisner Plaza buildings from Central Park, NY 1933 • A Year After European Stocks Hit Record, Crash Angst Hits Traders (BBG) • The One Cha
[See the full post at: Debt Rattle April 15 2016]“In a developed economy, Ponzi lending of such an enormous scale would lead to widespread bankruptcies, unemployment and massive losses for investors and lenders.”
Mixed feelings on this quote. You mean like the Ponzi lending in the United States? And how that would lead to bankruptcies, unemployment, and losses here? And yet, we have Ponzi lending, and it HAS led to those outcomes. Which are bad for China, apparently, but okay for us. They’ll crash but we won’t crash, because we’ve already crashed into a crash we won’t admit has crashed.
And Britain exists to be a money-center for the ultra-rich and their companies, which is to say, they are in the very business of off-shoring secret accounts, corporations, and mostly dirty money. City-of-London now IS the GDP of Britain, thanks to complete demolishing of industry; if it dies, England dies a cold, hard death. So finding dirty money there is like going to an ice cream stand and being surprised they have gelato. They are shocked, shocked there is gambling going on in this casino. Please. What they really don’t want is bad press and competition.
Not to worry. Gramma Yellen has decided to throw moar free money at Main Street now. We saw what $85 billion a month did for Wall Street. Imagine what, oh, say, $150 billion a month dumped on the general consumer will do?
By November this thing is likely to be roaring. B-52’s can carry a bunch more c-notes than li’l ol’ choppers. Gramma has received her marching orders.
Now, as for “Price Discovery” in order to discover a price one first needs something of value to mark it to. Not sure what that will be, but it certainly won’t be green zero term Federal Reserve note debt instruments. These themselves will need to be repriced in comparison to something of real value. That will be when the rubber hits the road.
Short term, dream on about disinflation. But in the interest of long term financial health, I plan on the inevitable eventual rejection of state issued promises to pay,,,in what??? I have no idea.
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