Monetary Shoplifting!
A dilation of money.
“I can assure you that there is a tsunami of terrible, terrible businesses and assets that need to be rationalized, and the total addressable market - if you think of it this way - is bigger than it's ever been, and growing.”
Fed Decision Tomorrow. No Change(?)
Number go up.
Five years of inflation in Buenos Aires via Chris Arnade
That's about a 96% annual empanada inflation rate.
"So we have the lowest interest rates in four-thousand and twenty years, and the ONLY observation of substantial volumes of negative nominal yields in 4,020 years, and we are maximum bullish on bonds, collectively. Now that, gentlemen, is a paradox."
Jim Grant on the Sherman Show podcast, November 2020
"The iShares 20+ Year Treasury Bond ETF (TLT), which sports a hefty $44 billion in assets under management, has absorbed a 49% downdraft since August 2020, remaining only 6.5% above its post-crisis lows."
- Grant’s
TLT
OK, sports fans. Today we have a number of observations from Jim Grant, plus Milton Berg, Frédéric Bastiat, Lyn Alden, Wilhelm Röpke, Chris Whalen etc. Also, Apple and Microsoft seen safer than Treasuries, hotel trends, the usual CRE, small business pain, short-term rentals, Egypt, Sedona, Florida, Dallas, Otis Redding, black holes, inflation(!), and other stuff.
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