Bonds are still high despite his bs "big bang" call. Real estate keeps rising, etc, etc....
I never understood the fear that there would be a "big bang" in bonds. Seems to me that the writing is on the wall and that the bond markets will slowly shrivel over the coming years as central banks buy up and effectively cancel the debt denominated in their local currencies. Very bullish for cryptocurrency and the nominal value of almost everything over the long run..
Global Debt Hits A New Record High Of $217 Trillion; 327% Of GDP
http://www.zerohedge.com/news/2017-06-29/global-debt-hits-new-record-high-217-trillion-327-
Japan Is Writing Off Nearly Half Its National Debt... We Could, Too.
http://m.truthdig.com/report/item/japan_write_off_nearly_half_national_debt_inflation_20170628
Quote from: Ellen Brown
Japan seems to have found one. While the US government is busy driving up its sovereign debt and the interest owed on it, Japan has been canceling its debt at the rate of $720 billion (¥80tn) per year. How? By selling the debt to its own central bank, which returns the interest to the government. While most central banks have ended their quantitative easing programs and are planning to sell their federal securities, the Bank of Japan continues to aggressively buy its governments debt. An interest-free debt owed to oneself that is rolled over from year to year is effectively void a debt jubilee. As noted by fund manager Eric Lonergan in a February 2017 article:
The Bank of Japan is in the process of owning most of the outstanding government debt of Japan (it currently owns around 40%). BoJ holdings are part of the consolidated government balance sheet. So its holdings are in fact the accounting equivalent of a debt cancellation. If I buy back my own mortgage, I dont have a mortgage.
If the Federal Reserve followed the same policy and bought 40% of the US national debt, the Fed would be holding $8 trillion in federal securities, three times its current holdings from its quantitative easing programs.
...
That is not to say that all is idyllic in Japan. Forty percent of Japanese workers lack secure full-time employment, adequate pensions and health insurance.
The Bank of Japan is in the process of owning most of the outstanding government debt of Japan (it currently owns around 40%). BoJ holdings are part of the consolidated government balance sheet. So its holdings are in fact the accounting equivalent of a debt cancellation. If I buy back my own mortgage, I dont have a mortgage.
If the Federal Reserve followed the same policy and bought 40% of the US national debt, the Fed would be holding $8 trillion in federal securities, three times its current holdings from its quantitative easing programs.
...
That is not to say that all is idyllic in Japan. Forty percent of Japanese workers lack secure full-time employment, adequate pensions and health insurance.