Jager
Recycles dryer sheets
- Joined
- Jul 28, 2012
- Messages
- 103
I'm not terribly concerned about hedonics as a policy tool. I think it is oftentimes misused, but in the grand scheme of things is a relatively minor factor.
I do think governmental economic policies around the world will end in tears. We often on this board emphasize, at a personal level, the need to LBYM. Yet we observe virtually every 'modern' society on earth living vastly beyond its means. That can work in the short run. In the long run the math becomes inexorable. We are, I believe, in the early stages of that state change.
Deflationary forces are enormous and growing.
Central bank balance sheets are a disaster, pretty much everywhere.
Monetary velocity has all but disappeared.
Price discovery has been perverted because of ZIRP policies everywhere. Asset valuations are seen through a false prism.
Currency crises await. Japan will probably be first up of the major economies. There will be others. The dollar is what I call "the prettiest whore." It will be seen, early on, as the world's safe haven. The bull run in bonds is not yet over. Yet, the dollar, too, will endure its own crisis down the road.
The strong dollar is having enormous implications on the carry trade. Emerging markets are in peril.
Deflation will continue to crush commodities.
Equity markets are set up to fall. Probably precipitously. When they do, millions of investors who have bought into the conventional theories of finance will be heavily impacted. Retirements, near and dear to all of us on this board, will be interrupted for many; indefinitely delayed for others.
Very few people will be unaffected by what is coming. It will be an inflection point in history.
Hedonics, indeed!
I do think governmental economic policies around the world will end in tears. We often on this board emphasize, at a personal level, the need to LBYM. Yet we observe virtually every 'modern' society on earth living vastly beyond its means. That can work in the short run. In the long run the math becomes inexorable. We are, I believe, in the early stages of that state change.
Deflationary forces are enormous and growing.
Central bank balance sheets are a disaster, pretty much everywhere.
Monetary velocity has all but disappeared.
Price discovery has been perverted because of ZIRP policies everywhere. Asset valuations are seen through a false prism.
Currency crises await. Japan will probably be first up of the major economies. There will be others. The dollar is what I call "the prettiest whore." It will be seen, early on, as the world's safe haven. The bull run in bonds is not yet over. Yet, the dollar, too, will endure its own crisis down the road.
The strong dollar is having enormous implications on the carry trade. Emerging markets are in peril.
Deflation will continue to crush commodities.
Equity markets are set up to fall. Probably precipitously. When they do, millions of investors who have bought into the conventional theories of finance will be heavily impacted. Retirements, near and dear to all of us on this board, will be interrupted for many; indefinitely delayed for others.
Very few people will be unaffected by what is coming. It will be an inflection point in history.
Hedonics, indeed!
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Maybe we need to start a new poll on which way we would all choose to spend our catastrophic final days.
