>>9539454 (lb)
on econ/macro we are 100% screwed
the O/n repo operations of the FED have been a disaster since the o/n rate blew out to like 5% in September 2019
the ECB/BOJ have completely destroyed their bond markets
ECB has been buying junk paper and implemented negative rates over there since 2013, their economy has only weakened
FED is now buying junk corporate paper here, specifically HYG an ETF
The SPVs set up by treasury are nice in theory, but would be better if we weren't already $26T in debt, thats why bond yields can't rise
The cost of servicing our debt hasnt changed since 2008, but our debt has gone up 2-3x.
Thats the only way congress has gotten away with all this spending since 2008, ever lower interest rates, lower carrying cost.
This of course destroys savings for retiree's, etc, also has utterly destroyed pensions.
Actuaries using 2005 risk free rate of 4% are getting killed in a world where 10yr is under 1% has lead to most pensions underfunded.
The only thing that saves us is the USD however china, as you can see has bought off every significant world governing body, they want to replace us as dominate world power, if we are not careful they will
Praying with you fren