Caused by wars, socialism, viruses...
Look. I realize you all hate me for playing devils advocate. But Paul. There’s inflation. And hyperinflation. And a recession fixes that. I’m not happy about it. I’m a human being with emotions. However. We are 1998 30 year yield gilts. —- now let’s look at the forward. P/E FTSE.
. I love you guys. All of you. But I won’t put my money to work in you today.
Jackson hole. Powell was clear. PAIN IS AHEAF. have you felt pain yet? I would argue most of us have not.
He said. He’s going to let the market decide the long Bond yields.
He also didn’t deny a December 12.5 bps hike.
He said. DATA DEPENDENT. with long and variable lags.
I love Paul. —- but your London Elite car insurance is just bad subjective qualitative data.
Most Londoners don’t have car insurance. Because. A car is a 20% wealthy income luxury. And even the 20% have no parking.