The Bond Market Has Spoken. Should Investors Listen? | Joseph Wang & Harley Bassman
Forward Guidance
00:00
The Negative Real Rate
We have too much debt. We are a levered financial economy for good or for ill. And the way you get rid of debt is you either have massive growth like after World War Two, which is not going to happen. Therefore, inflation is a slow motion default. Is 8% good? No. But at least we take them off the boil so wages can catch up. Joseph: I think it would be a way to basically devalue the debt to the benefits of civilians.
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