{"id":62759,"date":"2022-05-28T17:13:17","date_gmt":"2022-05-28T22:13:17","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62759"},"modified":"2022-05-28T17:13:17","modified_gmt":"2022-05-28T22:13:17","slug":"end-of-the-40-year-bull-in-debt-and-a-global-depression-threat","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62759","title":{"rendered":"End of the 40-Year Bull in Debt and a \u201cGlobal Depression\u201d Threat"},"content":{"rendered":"<header class=\"m-detail-header mm-detail-header--content-position-above mm-detail-header--in-content-well\">\n<div class=\"m-detail-header--container\">\n<div class=\"m-detail-header--content\">\n<h3 class=\"m-detail-header--title\"><a href=\"https:\/\/mishtalk.com\/economics\/end-of-the-40-year-bull-in-debt-and-a-global-depression-threat\">End of the 40-Year Bull in Debt and a \u201cGlobal Depression\u201d Threat<\/a><\/h3>\n<div class=\"m-detail-header--dek\">Francis Hunt interviews Danielle DiMartino Booth in a must watch video, her most economically comprehensive yet.<\/div>\n<\/div>\n<\/div>\n<\/header>\n<section class=\"m-social mm-social--below-header\"><\/section>\n<div class=\"m-detail--body\">\n<div class=\"m-detail--body-item m-detail--body-item-inline\">\n<figure class=\"l-inline tml-image m-detail--tml-image--inline\"><a><picture class=\"is-loaded\"><source srcset=\"https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_380\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.webp 380w, https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_620\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.webp 620w, https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_700\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.webp 700w, https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_958\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.webp 958w\" type=\"image\/webp\" sizes=\"(min-width: 1240px) 700px, (min-width: 675px) 620px, calc(100vw - 40px)\" \/><source srcset=\"https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_380\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.png 380w, https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_620\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.png 620w, https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_700\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.png 700w, https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_958\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.png 958w\" sizes=\"(min-width: 1240px) 700px, (min-width: 675px) 620px, calc(100vw - 40px)\" \/><img loading=\"lazy\" decoding=\"async\" class=\"m-detail--tml-image m-image\" src=\"https:\/\/mishtalk.com\/.image\/t_share\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.png\" srcset=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"End of a 40-Year Bond Bull Market\" width=\"958\" height=\"627\" data-src=\"https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_700\/MTg5NzcxMzAxNjU5ODc5MTAw\/end-of-a-40-year-bond-bull-market.png\" \/><\/picture><\/a><\/figure>\n<\/div>\n<p><strong>Discussion Topics<\/strong><\/p>\n<p>Please do yourself a favor and watch the video link below. Here are just some of topics discussed.<\/p>\n<ul>\n<li>Possible end of the 40-year bull in debt, if so a \u201cglobal depression\u201d threat<\/li>\n<li>Emerging Market Blowups<\/li>\n<li>The Yen<\/li>\n<li>Equity Markey Complacence \u2013 Bond Market Reacting to Reality of Higher Interest Rates, Equity Markets Say Prove Hikes Are Coming<\/li>\n<li>Game of Chicken<\/li>\n<li>Average age of Senators \u2013 No one will stand up to the Fed except Pat Toomey<\/li>\n<li>Jay Powell knows the damage he did by saving BBB-rated bonds<\/li>\n<li>Yield Curve Inversions \u2013 How Much Time Is There?<\/li>\n<li>Watch currencies especially in countries importing energy<\/li>\n<li>Inventories<\/li>\n<li>De-globalization<\/li>\n<li>Not going to get fiscal stimulus in this mid-term election year.<\/li>\n<li>Housing wealth effect in reverse<\/li>\n<li>Violent unwind of the carry trade (Yen and Euro)<\/li>\n<li>Pension Plan Irony, Pension Plan Risk, Pension Plan Ponzi Schemes<\/li>\n<li>Fed Pushes Legal Limits<\/li>\n<li>Monetary policy favors the 1%<\/li>\n<li>Extends and Pretend on Commercial Real Estate Loans, Midsize Banks Hold this Debt<\/li>\n<li>Investment ideas: Look for Safe Municipals (not Illinois), Gold, Cash<\/li>\n<li>Avoid value traps like discretionary spending and healthcare, wary of energy because of huge valuation runups<\/li>\n<\/ul>\n<p><strong>Two Teaser Quotes<\/strong><\/p>\n<p>In response to a question about the end of the 40-year bull market in bonds, Booth replied:<\/p>\n<p>&#8220;<em>I don&#8217;t do hyperbole at all, but if this really is the end, and we really are going to see real rates rise appreciably, then you are talking about a global depression.<\/em>&#8221;<\/p>\n<p>Later in the interview, Booth commented &#8220;<em>If you want a front row seat with popcorn, follow the EM [emerging market] space<\/em>.&#8221;<\/p>\n<p><strong>YouTube Interview\u00a0<\/strong><\/p>\n<div class=\"m-detail--body-item m-detail--body-item-inline\">\n<figure class=\"m-video mm-video--landscape l-inline\"><iframe loading=\"lazy\" id=\"JwS824WRflI\" class=\"m-video--frame\" src=\"https:\/\/www.youtube-nocookie.com\/embed\/JwS824WRflI\" width=\"598\" height=\"336\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/figure>\n<\/div>\n<p>Thanks to Danielle DiMartino Booth and Francis Hunt for an amazingly informative video interview.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>End of the 40-Year Bull in Debt and a \u201cGlobal Depression\u201d Threat Francis Hunt interviews Danielle DiMartino Booth in a must watch video, her most economically comprehensive yet. Discussion Topics Please do yourself a favor and watch the video link below. Here are just some of topics discussed. Possible end of the 40-year bull in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[13492,32923,14648,13390],"class_list":["post-62759","post","type-post","status-publish","format-standard","hentry","category-economics","tag-danielle-dimartino-booth","tag-francis-hunt","tag-michael-shedlock","tag-mishtalk"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62759"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62759\/revisions"}],"predecessor-version":[{"id":62760,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62759\/revisions\/62760"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}