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41 sats \ 0 replies \ @Car 13 Aug 2023
Love the archive link👏👏 more of this
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20 sats \ 5 replies \ @siggy47 13 Aug 2023
Wow! I mentioned this in my SN post but I never thought I'd see this brought up in the Financial Times.
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20 sats \ 4 replies \ @TomK 13 Aug 2023
And You can follow them losing control over their yield curves. German 10Y e.g. has been clearly pegged to 2.5 and cut through it on friday. Same happened to all the others in the Eurozone. Chrissie can try defending the yield spreads to the ust but will be loosing the currency war then. She can't safe both - and Japan could be the killer if they let rates rise some more
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0 sats \ 3 replies \ @siggy47 13 Aug 2023
Do you have a prediction as to how this plays out, and a ballpark time frame? I know everyone is guessing at this point, but I like your perspective.
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62 sats \ 2 replies \ @TomK 13 Aug 2023
My timing on markets really is the worst You can imagine. But if I wouldn't need to put a time frame on it I am watching Europe as the potential first (and big) domino to send signals of real trouble. Their structural problems (the dysfuncional banking and currency union) and their gigantic miscalculation of sanctioning their ''energy and commodity dealer'' no. 1 makes them, at least in my opinion, a classical candidate to enter the downward spiral first. Maybe it's good advice to put europ. banking stocks on the watchlist, as indicators of economic seismic chocks besides the bond market. But after the covid intervention I have problems timing these processes. But: the debate on CBDC here in Europe is heating up in recent days. Maybe there is more pressure on the pot...
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0 sats \ 1 reply \ @siggy47 13 Aug 2023
The Italian banks are usually on the brink, right? And what about Deutsche Bank? Also, UBS after being force fed CS?
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0 sats \ 0 replies \ @TomK 13 Aug 2023
The swiss banks obviously got the Fed on their side. They immidately received usd swap lines when they were needed. Italian banking is the crisis in persona - therefore I have an eye on Deutsche, some state funds and the french institutes. Question is: how deep will the impact on german fiscal deficits be when recession bites in the books?
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10 sats \ 1 reply \ @orthzar 13 Aug 2023
I have been worried about this in particular for the last few years. The upcoming global depression is going to collide with other serious issues (e.g. China will soon have a population older than Japan). The result is people all over the planet will become far poorer than they are now.
So, I have been operating under the assumption that I will never get to retire -- that I will have to work 'til I die. The only way I could possibly have the option of retiring is if Bitcoin reaches global adoption during the upcoming global depression -- which is not guaranteed.
Also, there is a good chance that the entitled Boomer generation will be forced out of retirement as their investments and social security become worthless. They will cry, "I worked hard all my life, so I deserve a retirement," with no awareness that their ancestors worked harder than them and few got to retire.
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0 sats \ 0 replies \ @nullama 14 Aug 2023
Retirement is a tricky thing, and it gets trickier every year.
The ever increasing waves of people getting into retirement age put a lot of economic pressure.
This is of course slightly different in different countries, but the basic principle is the same. There is probably not going to be enough money to support the retirement of the current working generation.
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0 sats \ 0 replies \ @teodor 14 Aug 2023
Most financial times FT writers are out of date and they hate bitcoin... Bonds aren't an option since long time ago! However, Bitcoin bonds are still an option, as Salvador opens the door to Bitcoin Bonds: https://www.investopedia.com/el-salvador-bitcoin-bond-7094463 However, I won't but any el Salvador bitcoin bonds either... 🤔 🙈 😂
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