SLP432 James Lavish The Great Debt Spiral
Stephan Livera Podcast
00:00
BTFD
Pension funds are effectively getting wrecked on leverage and then you need someone to step in and bail them out. It's quite an unfortunate scenario where in some ways it's people wanted a certain level of stability, right? They just bet on this idea that they could just get this kind of 7, 8% return in real terms - not even thinking about inflation here. So yeah, it is kind of crazy.
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