It's 1957 and someone writes "We're breaking up the vicious tyranny of economic power. We will set men free of the rule of the dollar. We will release our spiritual aims from dependence on the owners of material means. We will liberate our culture from...
...the stranglehold of the profit chasers. We will build a society dedicated to higher ideals and we will replace the aristocracy of money by..."
It's left deliberately blank !! but to me it reads like the typical BTC tweet,
"we the people, we're going to replace the aristocracy of money by bitcoin... "
except back in '57 it wasn't meant as a badge of honour. More the blasphemy of the moochers and the leachers??
I'm just saying, I'm not expressing a prejudice but rather sharing observations from the wee small hours of the night...bet you can guess the source material in a nanosecond...
I might do one last thread. The tyranny, our tyranny, is the shadow cast by the mercantilist nations - they, and their ardour for the $$$, is what's killing the integrity of our beautiful model. Leave surpluses unchecked and profits and risk-less assets will soar to infinity
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Hey @GeorgeGammon loved our show at the beloved Rebel Basecamp the other week. Check this quote out. Its from a popular book release in 1957 but it resonates so much with today. I thought it might tickle you...it's the pronouncement of a fictional government doctor
"The only power any government has is the power to crack down on criminals. Well, when there aren’t enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws.
But just pass the kind of laws that can neither be observed nor enforced nor objectively interpreted—and you create a nation of lawbreakers—and then you cash in on guilt. Now that’s the system..."
@ziadaboujamra asks if I would buy Turkish equities? And with the dastardly Turk authorities now seeking to terrorise fin tweets it's just too much not to comment. Equities are a v functional way of capturing the huge income transfer from WE the people to THEM the corporates.
But buy now? Be cognisant of the flight path. Buying German Weimar stocks was also a v effective profit centre in the early stages of the great inflation. Likewise Turk equitis have worked. But as I suggested in my paper "Dawn of. Chaos" Hyper Infl is a rare & devastating scourge
Turkey is susceptible to a more sustained inflation epidemic simply because its fin assets are such a small % of gdp. The fin system was already broken. Locals didn't trust the monetary power as witnessed by v small deposits/gdp and guvies/gdp. In lira, we the people trust not...
I'll tell you what's happening, it's time for another session of Macro Confessions and I welcome back the boundless wit and curiosity of @writes_sweeney
I'm still buzzing from yesterday's podcast episode with Angus Fletcher, professor of mushrooms...hope you have time to check out our Hedge Fund Masterclass -Creativity
It's on all the podcast platforms.
Post your feedback here...or on my instagram page for hughhendryofficial
I'm indebted to Angus for expanding my library of nonsense terms; I feared it was running empty from overuse...but now I'm ready to cast off again into a world of new adventures. I'm a narrative warrior. Yes, my PLAN A's are often wrong...
This week we have a Shared Confession on YouTube and the podcast platforms.Former macro hedge fund manager, Hugh Hendry (me...), is joined by Dr. Angus Fletcher (Phd, Yale), a neuroscientist and professor of Shakespeare and all round really smart and entertaining dude
Angus rocks ! His latest book, Creative Thinking, was written especially for US special operatives engaging with live risk. We discuss the carry over principals for all wannabe hedge fund investors. This is hedge fund bootcamp for narrative warriors.
Hmm...where was I ? Such a busy night. I did a fun video with the one-and-only @GeorgeGammon and now this...
Yeah, so it's not the 55 m empty housing units nor the end of China's mega trends, NO, it's the 93 million properties currently under construction !!! Now I don't care how Confucius super smart you are, that's a whopping problem. That's inter galactic. That's friggin bonkers
China's "real" housing demand is reckoned to be 7 m units p.a. Put another way, China is presently constructing 20x the no. of homes that will be necessary for 2030...How do you like them cliches..?