The "What is Money?" Show cover image

The Ultimate Macro Framework with Raoul Pal (WiM078)

The "What is Money?" Show

00:00

Bonds Are Not Rational, They're Rational

Debasement was blowing bubbles into equities, as we saw on the run up to two thousand one. Then we saw it in real estate in two thousand eight. It looks like they're just directing this into government bonds. Aren't we blowing bubble into strato? I don't believe so. Because demographics defined c p i and jud p growth. Bonds are basically g d p plas inflation, long term inflation. So once you've got this, we need to figure out what we can do.

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