{"id":420,"date":"2011-08-24T15:41:39","date_gmt":"2011-08-24T19:41:39","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=420"},"modified":"2011-08-24T15:41:39","modified_gmt":"2011-08-24T19:41:39","slug":"what-we-need-and-what-we-actually-get-may-be-vastly-different","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/24\/what-we-need-and-what-we-actually-get-may-be-vastly-different\/","title":{"rendered":"What we need and what we actually get may be vastly different"},"content":{"rendered":"<p>This is in response to a question raised by Thomas Franklin:<\/p>\n<blockquote><p><span style=\"color:#008080;\">Hi Colin,<\/span><\/p>\n<p><span style=\"color:#008080;\">&#8230;.. My question is not just about the bond market although it is part of it but a reflection of the bigger picture globally with what is unfolding. With many governments facing rising debt levels and the Feds policy of financial stimulus, surely this is just delaying the inevitable of \u201cGlobal Financial Meltdown\u201d The USA and the dollar is a sinking ship, with the Fed losing the battle of bailing the ship out. So what do you think will replace the system we currently have?<\/span><\/p><\/blockquote>\n<p>Hi Thomas,<br \/>\nWhat we need and what we actually get may be vastly different.<br \/>\nFirstly, what we need:<\/p>\n<ul>\n<li>A consensus Swiss-style democracy instead of the <em>winner-takes-all system<\/em> we have at present, where incumbent politicians run up fiscal debt in order to boost their chances of re-election.<\/li>\n<li>Restrict the Fed to a single mandate, to protect the currency, rather than targeting inflation to help the politicians.<\/li>\n<li>Restrict capital flows between countries, like China\/Japan&#8217;s purchase of &gt;$2 trillion of US Treasurys, used to manipulate exchange rates and create a massive advantage for their export industries.<\/li>\n<li>Austerity to cut unnecessary spending and public works programs to improve national infrastructure and create employment &#8212; but the programs must deliver real returns on investment so they can later be sold off to repay debt.<\/li>\n<li>Europe needs a eurobond system, with central borrowing and restrictions on individual member deficits.<\/li>\n<\/ul>\n<p>What we will probably get is:<\/p>\n<ul>\n<li>More of the same: government controlled by special interests and dominated by fear of the next election.<\/li>\n<li>The Fed going nuclear and buying more Treasurys &#8212; creating inflation to bail out the banks and save Treasury from default.<\/li>\n<li>Inflation as a soft form of default to give bondholders (read China\/Japan) a <em>haircut<\/em> and deter them from buying more Treasurys.<\/li>\n<li>More profligate spending and ill-chosen, <em>bridge-to-nowhere<\/em> infrastructure projects.<\/li>\n<li>A breakup of the Euro?<\/li>\n<\/ul>\n<p>Hope that doesn&#8217;t sound to optimistic \ud83d\ude42<\/p>\n<p>Regards, Colin<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is in response to a question raised by Thomas Franklin: Hi Colin, &#8230;.. My question is not just about the bond market although it is part of it but a reflection of the bigger picture globally with what is unfolding. With many governments facing rising debt levels and the Feds policy of financial stimulus, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/24\/what-we-need-and-what-we-actually-get-may-be-vastly-different\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;What we need and what we actually get may be vastly different&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29],"tags":[289,996,1298,1317,1352,1409,1828,1838,2815,3483],"class_list":["post-420","post","type-post","status-publish","format-standard","hentry","category-the-big-picture","tag-austerity","tag-democracy","tag-eurobond","tag-exchange-rates","tag-fed","tag-fiscal-debt","tag-inflation","tag-infrastructure","tag-public-works","tag-treasurys"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What we need and what we actually get may be vastly different - 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=\"What we need and what we actually get may be vastly different - the patient investor\" \/>\n<meta property=\"og:description\" content=\"This is in response to a question raised by Thomas Franklin: Hi Colin, &#8230;.. 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Population growth and food resources The number one dynamic over the last century has been the exponential rise in global population. It took\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":[]},{"id":2618,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/14\/private-sector-debt-growth-warns-of-anemic-recovery\/","url_meta":{"origin":420,"position":1},"title":"Private sector debt growth warns of anemic recovery","author":"ColinTwiggs","date":"December 14, 2011","format":false,"excerpt":"The cause of current anemic GDP growth is evident from the recently-released Z1 Flow of Funds report. GDP recovery from 2008\/2009 is accompanied by only a modest rise in Domestic (Non-Financial) Debt -- which is now constraining further growth. Domestic (Non-Financial) Debt is made up of Government Debt and Private\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34540,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/06\/20\/pe-ratios-and-timing-the-fed\/","url_meta":{"origin":420,"position":2},"title":"PE Ratios and timing the Fed","author":"Colin Twiggs","date":"June 20, 2022","format":false,"excerpt":"Some interesting points raised by Neil in response to our recent graph on trailing PE for the S&P 500: Looking at S&P500 Trailing PE, it seems that the Fed flinches every time the 16 mark is reached. So, although I agree that there will be a period of lower PE's,\u2026","rel":"","context":"In &quot;US &amp; Canada&quot;","block_context":{"text":"US &amp; Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"Reversion to the Mean","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-17-r2m-filled.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-17-r2m-filled.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-06-17-r2m-filled.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":19882,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/03\/07\/global-financial-markets-are-sinking\/","url_meta":{"origin":420,"position":3},"title":"Global financial markets are sinking","author":"Colin Twiggs","date":"March 7, 2020","format":false,"excerpt":"The current crisis is not caused by the coronavirus. 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Wall Street no doubt lobbied hard for debt expansion, because of the boost to interest margins, with little thought as to their own vulnerability. There can be no justification\u2026","rel":"","context":"In &quot;Debt Levels&quot;","block_context":{"text":"Debt Levels","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/debt-levels\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/420","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=420"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/420\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}