{"id":18817,"date":"2019-09-03T23:30:47","date_gmt":"2019-09-03T23:30:47","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=18817"},"modified":"2019-09-03T23:30:47","modified_gmt":"2019-09-03T23:30:47","slug":"a-sobering-assessment-of-the-global-economy","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/03\/a-sobering-assessment-of-the-global-economy\/","title":{"rendered":"A sobering assessment of the global economy"},"content":{"rendered":"<p>Donald Amstad from Aberdeen Standard Investments: &#8220;the developed world is verging on catastrophe&#8230;. we are facing an unprecedented bust in risk-free (bond) markets.&#8221;<\/p>\n<p><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"525\" height=\"296\" src=\"https:\/\/www.youtube.com\/embed\/3WclYu5l4G0?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-US&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/p>\n<p><em>Hat tip to Marcus Padley<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Amstad from Aberdeen Standard Investments: &#8220;the developed world is verging on catastrophe&#8230;. we are facing an unprecedented bust in risk-free (bond) markets.&#8221; Hat tip to Marcus Padley<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,45,46,3761,56,29],"tags":[4100,4101],"class_list":["post-18817","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-debt-levels","category-deficit-spending-employment","category-gdp-and-activity","category-quantitative-investing","category-the-big-picture","tag-bond-market-bubble","tag-negative-yielding-debt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A sobering assessment of the global economy - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A sobering assessment of the global economy - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Donald Amstad from Aberdeen Standard Investments: &#8220;the developed world is verging on catastrophe&#8230;. we are facing an unprecedented bust in risk-free (bond) markets.&#8221; 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Not only does this indicate a recovery in consumer confidence, but it will fuel additional expenditure and stimulate income growth. The ratio of household debt to personal disposable income\u2026","rel":"","context":"In &quot;Market Insights&quot;","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"US Household Credit Growth","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/hhcredit-growth.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/hhcredit-growth.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/hhcredit-growth.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1821,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/07\/italy-nears-tipping-point-as-bond-yields-spike-wsj-com\/","url_meta":{"origin":18817,"position":2},"title":"Italy Nears Tipping Point as Bond Yields Spike &#8211; WSJ.com","author":"ColinTwiggs","date":"November 7, 2011","format":false,"excerpt":"Less than two weeks after European leaders unveiled an agreement that was designed to bolster confidence in the region, the yield on Italy's 10-year debt drew close to the 7% mark, a line in the sand of both practical and psychological importance to the market. Psychologically, 7% has become a\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4726,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/29\/debt-crisis-germany-caves-in-over-bond-buying-bank-aid-after-italy-and-spain-threaten-to-block-everything-telegraph\/","url_meta":{"origin":18817,"position":3},"title":"Debt crisis: Germany caves in over bond buying, bank aid after Italy and Spain threaten to block &#039;everything&#039; &#8211; Telegraph","author":"Colin Twiggs","date":"June 29, 2012","format":false,"excerpt":"Bruno Waterfield: On Thursday night, Italy and Spain plunged an EU summit into disarray by threatening to block \u201ceverything\u201d unless Germany and other eurozone countries backed their demands for help......Under the deal, Spanish banks will be recapitalised directly by allowing a \u20ac100 billion EU bailout to [be] transferred off Spain\u2019s\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63208,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/27\/japans-debt-trap\/","url_meta":{"origin":18817,"position":4},"title":"Japan&#8217;s debt trap","author":"Colin Twiggs","date":"November 27, 2025","format":false,"excerpt":"Key Points The yield on 30-year Japanese government bonds is rising steeply. Suppressing the yield would risk a Yen devaluation spiral and rising inflation. Allowing yields to rise would protect the Yen but threaten a funding crisis. Japanese government debt was 237 percent of GDP at the end of 2024,\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Japanese Public Debt-to-GDP","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-25-jp-debt-gdp.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-25-jp-debt-gdp.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-25-jp-debt-gdp.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":5319,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/22\/germany-backs-draghi-bond-plan-against-bundesbank-telegraph\/","url_meta":{"origin":18817,"position":5},"title":"Germany backs Draghi bond plan against Bundesbank &#8211; Telegraph","author":"Colin Twiggs","date":"August 22, 2012","format":false,"excerpt":"By Ambrose Evans-Pritchard, 9:39PM BST 20 Aug 2012 \u201cA currency can only be stable if its future existence is not in doubt,\u201d said J\u00f6rg Asmussen, the powerful German member of the ECB\u2019s executive board. He signalled full backing for the bond rescue plan of ECB chief Mario Draghi, brushing aside\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=18817"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18817\/revisions"}],"predecessor-version":[{"id":18818,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18817\/revisions\/18818"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=18817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=18817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=18817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}