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Old 08-21-2018, 02:55 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,325
Turmoil and haircuts

Armstrong warned that U.S. sovereign debt will collapse LAST. Somebody did not get the memo.
"Noting the “massive increase” in short positions against 10-year and 30-year Treasury markets, he warned in a Twitter posting that Treasury bond shorts are the "highest in history, by far,"

8/20 David Stockman: ‘Unhinged White House’ to cause stock market crash – CNBC
Sadly, Stockman is ignoring foreign capital inflows.
8/20 Nomura: Equity funds in “multi-month performance disaster” – Zero Hedge
I never said that equities were perfect. It’s just that bonds look so much worse.
8/20 China ‘colonising’ smaller countries by lending them money they can never repay – Sun
8/20 Turkey crisis rattles Asian nations with rising Belt and Road debts – Nikkei
Whatever works.
8/20 Global turmoil shows the US is still the safest place for your money – CNBC
As long as people continue to believe that legitimate investors are buying U.S. treasury bonds.
8/19 Venezuela in chaos after Maduro announces 95% devaluation – ZH
8/20 Ecuador tightens entry rules for Venezuelan migrants – BBC

So sad.
8/20 JP Morgan cuts Tesla price target to 195 in scathing report – Zero Hedge That is going to leave a mark.

Armstrong on haircuts.
"We are also witnessing this at the municipal level in Germany where about 50% of municipal governments are effectively bankrupt"
"So when we look at the indebtedness of even Emerging Markets, keep in mind that the loser will be the lender – not the borrower"
So, all the millions of people and entities who loaned money to GOV will find their investments near worthless. THEY will stop spending money.

Merkel continues down the road to destruction.

Last edited by Danny B; 08-22-2018 at 03:03 AM. Reason: mistook
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