Philochat

💬New Philochat

JUST ONE MORE DEFICIT!

The fortunes of the American Empire and the broader-collective West have changed dramatically in just a few years.

It was hard to worry about debt loads at those prices – but now the 10-year is once again met with the 5% level, as it did 3 years ago where it found resistance and bond prices rebounded.

Nth time Lucky

But this time I think it's going to break it and move higher.

Trump, Bessent and the Administration has proven to be weak and perform waaaay below expectations.

I don't want to hear about your "What about Biden" and this and that. I don't care about your politics and your biases. Shit is about to get real and if you are soft, this community isn't for you. Biden isn't POTUS right now, Donald is.

THANK YOU FOR YOUR ATTENTION TO THIS MATTER!

Subsequent administrations have accumulated an US sovereign debt load of some $40 trillion – and the greatest economy in the world isn't enough to make it sustainable.

Budget deficits are still at AARRGHHHHHHHH!!!* and they aren't going to be reigned in any time soon.

*Quoting Tommy Tiernan here: Stand up.

NOT Business as Usual

I confidently believe we covered the Trump thematic better than any publication out there. When markets were going nuts about this and that, and how it would recover the economy – we took a pragmatic approach, analysing all their pre-electoral commitments one by one.

All Trump-related posts have been organised in this post:

We even posted two pieces exclusively on Bessent:

Make sure to read them when you have some time.

Bessent's DETOX!

In Bessent's Detox I wrote on the Treasury Secretary's plan to "detox" the American economy. LOL!

“The market and the economy have become hooked, become addicted, to excessive government spending and there’s going to be a detox period.”
—Scott Bessent

Chatting shit you were, Scottie boy. Trump and Bessent went into power and basically did the exact opposite of what they said they would do.

And this is where we are today – a $40 trillion debt load, uncontrolled budget deficits, a cornered Fed etc.

Bessent's RELAPSE!

As a follow-up to Bessent's Detox, we are publishing Bessent's Relapse to discuss the implications of these fiscal and monetary policies.

And the importance of real assets, cash, gold and precious metals and more. Many are turning bullish on bonds, simply because of Bessent's weak antics to buy back government bonds and because of the 5% level.

But as Soros used to say, historical price levels are broken by historical events.