Today, there is over $17T invested in bonds that guarantee a loss, if held to maturity. Think of the madness: You invest $101 today and in 2030 you will receive back $100. While the rate of inflation has been around 1.5% and GDP growth has been 2%-2.5% in the passing decade, owning bonds hasn’t been a bad choice or a lousy decision.
On Monday, Trump and Mnuchin met with FED Chairman Powell at the White House. They discussed many topics, but from the looks of it, nothing major came out of it.
The Trump administration is doing anything it possibly can to feed the goose, and it looks like it keeps on eating the positive progress news regarding the Phase 1 deal with China.
You can sense the desperation with the old guard. I’m telling you that there are winds of change everywhere I look. For the past few days I’ve been visiting Kiev, Ukraine, and young people are DISGUSTED with politics, with corruption, with the lies and distortions of the previous era.
I bet the haters didn’t see this coming!