(I know it's supposed to be proprietary, but today's action was the most-boring in the last 3,000 years... prior, there was a period of surplus rains & related wheat production and the price of the latter didn't budge for 27 years. That was the last time my proprietary stuff triggered. And if you know your Pharaonic history, then you know what Aakheperre - and lo! the entire ancient world - suffered the next day....)
My proprietary technical stuff just triggered.
It appears that today's market action is the most important capital market activity in 3,000 years.
It will be clear in retrospect.
We need a brutal depression.
Wipe out all the bad loans and bury the bankrupt holders & originators. Forever. Under a fresh mound of salted soil.
Pile high an insolvency pyre: use the politicians & the central bankers as kindling and ignite it with a flamethrower.
Wipe out all the millionaires & billionaires whose vast wealth originated from purchase of financial securities. Let them join the bulging ranks of America's underclass. Let them go hungry. And worry... endlessly... day to day.
And from the wreckage, let us rebuild something of substance that pays tribute to the inheritance we mindlessly pissed away.
This could be a huge hit in Poland.
Older American Jew with a decades-established mastery of American capital markets moves into a Warsaw penthouse to explore the tragic consequences of WWII for his ancestors; lives next door to a traditional Catholic family/patriarch is ex-union leader that made fortune after the fall of the Warsaw Pact, but is impulsively suspicious because he was targeted by the ancien regime; family's two kids - teenager & college student - represent the crossover between cultures. Show is half in Polish half in English, with older American constantly mispronouncing polish phrases to hilarious effect. Antics ensue....
Spinoff eventually sees the older Polish daughter attend Temple University in Phlly to study finance (much to her parents' horror); becomes rabid Eagles fan; learns to hate the Mets... but has to move to NYC in the final episode for a job on Wall Street.
You know what’s wonderfully unfamiliar & welcome about the collapse of Evergrande?
It helps habituate investors/speculators to the notion that yuan-denominated risk isn’t entirely backstopped. And that’s healthy.
Especially in comparison to the loss-limit policies of QE since the GFC, which have short-circuited notions of risk & return among dollar-denominated assets/speculators.
