I woke up this morning at 9:00 am, I opened up the curtains and let the sun flood in while relaxing in bed watching YouTube videos and writing my blog. I decided not to go for a walk today but instead I’ve been doing some free weights randomly throughout the morning along with some squats, stretching and focusing on flexibility and mobility. It is something that I want to maintain as I get older – being able to get older while maintaining a quality of life by being able to have the mobility to engage in physical activity.
There is an interesting video by David Frum in regards to the situation in the United States bond market (the 10 year bond yield in New Zealand is lower than in the United States):
It is interesting the point he raised regarding what JP Morgan said regarding lending money and his replying being the first thing he considers is the character of the person doing the borrowing. The whole system is built on a system of character – are you someone who can be trusted, are you good to your word, do you have a track record of borrowing and paying it back. When you sign agreements then rip them up, you threaten to annex Greenland and Canada, threaten to invade Mexico to deal with drug cartels caused by the United States demand for drugs is causing? it should be no surprise that the market is stepping back and saying “this clown car needs to pay a premium if it wishes to keep borrowing”. That doesn’t even touch on the “if you raise interest rates I’ll capsize the economy” threat that Donald Trump gave to Kevin Warsh:
Again, as a lender would you trust a country run by a president who is threatening to capsize the economy because he doesn’t have a basic understanding of economics? part of me wishes that Kevin Warsh had announced a 50 basis point rate increase rather than 25 basis point increase and when Donald Trump complained that Kevin Warsh turned around and said, “if you don’t like that then tough, we’ll pile another 50 basis points increase…the more you whinge, whine and complain the higher the interest rates will go..the ball is in your court Donald Trump”. I know it is petty but part of me wants the whole AI bubble to pop along with the whole sharemarket bubble – everything is going up in price and we can thank the coke snorting ketamine microdosing Patagonia jacket wearing wankers from Silicon Valley and Wall Street for this mess we’re in (who also bank rolled Donald Trump getting into office). Yes, I needed to get that off my chest because for last 10 years we’ve been living in a hell where things have gotten worse for everyone except the top 1%.
Matisyahu's Blog 