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livetaeat
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@dampedspring What drives assets up is inequality. As the rich get richer the demand for real assets grows as the supply remains mostly the same. Prices go up
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What drives all asset up?
Not rising growth expectations which drive bonds down and probably gold a bit too.
Not falling inflation expectations which drives gold down and is mixed on equities
What drives all assets up is a combination of all these things happening at once, easing and accommodative monetary policy expectations, fiscal deficit increases, falling volatility expectations, rapid private sector money creation, investor confidence in leveraging up, cheap valuations, low supply of risk assets, falling savings rates.
I would argue that every one of these things HAS been happening and
1. monetary policy can't be more dovish than priced
2. Only the Supreme Court can let the train keep going
3. Volatility is unsustainably low
4. Private sector money creation has risen but is crowded out by public sector financing needs
5. Investors are leveraged long
6. Valuations of bonds stocks and gold are high
7. Unless Bessent cuts coupon issuance risk assets are plentiful
8. Falling savings rates have fallen
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They realized they can't afford to waste Brandon Aubrey's prime
NFL on ESPN@ESPNNFL
Breaking: Cowboys are signing free-agent DE Jadeveon Clowney, owner Jerry Jones announced.
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