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Date Posted: 18:46:11 1/31/23 Tue
Author: Jasper
Subject: Denninger still around and still posting bits of wisdom.

.
We have habituated ourselves to the "inflation free" nature of deficit spending over the last two decades but it was always a Chimera. Bernanke in fact commented on it a few times and said he didn't understand the why -- but he knew it would end and that The Fed's capacity to keep emitting credit in concert with Congress without immediate blowback in inflation was going to end too, and if we ran up the national credit card in front of that the consequences were going to be nasty.

Well, the nasty is here -- like it or not.

Beware the expectation that asset prices are going to hold up, and particularly beware if you have or are involved in a business that only survives with negative real rates (cough-Tesla-cough-cough-cough!)

Those days are gone and positive real rates will -- and must -- return.


https://market-ticker.org/akcs-www?post=247999

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