Bubbles are driven by leverage. The Fed has been letting the air out of this one since July, 2021. Very, very quietly but very, very, VERY effectively, by using the daily market operations desk, and the ReverseRepo trade. Sneaky, but really effective at removing leverage from ALL markets.
https://www.wallstreetmojo.com/reverse-repurchase-agreement/
Ain't that the coincidence!
Gabriel Pogrund
@Gabriel_Pogrund
EXCLUSIVE: Liz Truss's chief of staff has been interviewed by FBI agents about an alleged criminal plot to bribe a politician and influence a US election
Mark Fullbrook quizzed this year after detectives made secret request via Metropolitan Police and NCA
No 10 chief of staff in FBI inquiry over ‘election bribe’ in Puerto Rico
https://www.thetimes.co.uk/article/no-10-chief-of-staff-in-fbi-inquiry-over-election-bribe-in-puerto-rico-rrlrtzkjk
FBI probe centres on Venezeulan-born, Mayfair-based Tory donor.
He allegedly gave $300k to re-election of Trump-supporting governor of Puerto Rico, US territory, on one condition: sack head of its financial regulator, which was investigating suspicious activity at his bank
https://twitter.com/Gabriel_Pogrund/status/1571183835609534466
Today's word is "Vitiate".
And these idjits wonder why their 6 page thick paper subscriptions collapsed under iBama…
Chicago Sun-Times
@Suntimes
From @CSTopinion:
Four distinct attacks have been launched against Gov. J.B. Pritzker and Democratic legislators in the past couple of weeks, writes Rich Miller.
https://twitter.com/Suntimes/status/1571250394101161988
Was Bourdain brought in cater that "event"?
Hugh Hendry Eclectica @hendry_hugh
7h
Ok we got something for y’all for the weekend - a reflective dive into why, just perhaps, the mighty kingdom of China may have lost its growth mojo
Hendry Goes to China: the Great GDP Swindle
youtube.com
Murphys Lawyer
@Porter_Faulio
Replying to @hendry_hugh
Thoroughly enjoyed this Hugh.
Whatever you think, it is worse. I recommend this article on how China's debt is partitioned across its govt tiers.
The Balance Sheet Constraints on China’s Economic Stimulus
seafarerfunds.com
https://twitter.com/Porter_Faulio/status/1571258288444153857
But light bends, so there's that.
And check your side mirror again on that size thingie, some things may be larger than they appear. Distance matters, moar.
MuhJoo's Shill Team Six is workin' it O-time.