Markets/Economics/Politics | RIP Paul Volcker 🕊 Personal Views. Not Investment Advice.
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May 10, 2023 • 4 tweets • 2 min read
Stan Druckenmiller at Sohn 2023:
“I’m sitting here staring in the face of the biggest and probably the broadest asset bubble, forget that I’ve ever seen, but that I’ve ever studied.”
Stan Druckenmiller at Sohn 2023:
“We are absolutely going to cut entitlements in this country. It is a lie and it’s a fantasy to say we don’t have to cut entitlements. We either cut them now or we’re going to cut them later on. But if we cut them later, it will be much worse.”… twitter.com/i/web/status/1…
May 9, 2023 • 5 tweets • 2 min read
“All this focus on the debt ceiling instead of the future fiscal issue is like sitting on the beach at Santa Monica worrying about whether a 30-foot wave will damage the pier when you know there’s a 200-foot tsunami 10 miles out.”
-Stanley Druckenmiller
We need to cut spending.
“It is a lie and a fantasy to say we don’t have to cut entitlements. The problem is we are either going to cut them now or we’re going to cut them later. And later will be a lot worse.”
Druck is spitting right now.😤
Oct 7, 2022 • 8 tweets • 2 min read
My blunt view on Russia/Ukraine:
I personally don’t think this is worth risking outright war with Russia or the use of nuclear weapons.
9 months ago, the majority of Americans had no idea what Ukraine was. They couldn’t point to it on a map. (Majority likely still can’t)
1/
We just had 2 decades of “Why are we in the middle east?!” and “End the endless wars!”
Now… we couldn’t even go ONE YEAR after finally leaving Afghanistan before jumping into another war we don’t belong in.
Has the public been completely brainwashed? Always hungry for war?
2/
Oct 4, 2022 • 4 tweets • 2 min read
I don’t understand it. I really don’t.
Where is the outrage? We should be demanding budget cuts or removing leaders from office. Instead, people calling for the Fed to pivot and go back to more QE. More ZIRP. Are we trying to make the US a zombie company? nytimes.com/2022/10/04/bus…
Rates can’t be 0% forever.
Debt can’t climb forever.
If rates at a normal level (barely 3%) kills a company, that company SHOULDN’T be alive. It’s a QE zombie.
If stocks fall 35%, that is where stocks are SUPPOSED to be.
0% and QE isn’t normal.
We’re not supposed to be there.
Jan 19, 2022 • 9 tweets • 2 min read
🧵Quick thread on what I think is going to happen and how the Fed has created the worst policy disaster of our lifetime:
Strong headline I know.
Set the stage…
The economy seems to be rolling over. Politicians and media heads can say that the economy is super strong, but the data doesn’t. CPI is at 7% and we all know real inflation is closer to 15%. Yet, we currently have rates at ZERO (0%) and are still running QE. 1/
