Stating the obvious NGDP growth like you read about That's what's happening we all know the reasons Massive AI investment Easy monetary conditions Fiscal spending Low private sector leverage at low costs Massive wealth fueling consumption Without regard to pricing Good for assets but really bad for nominal bonds and bad for tips and cash. Awesome for commodities and stocks and okay for gold and crypto/BTC That's what's happening. That's the trend. Policymakers can kill it but aren't trying. Fiscal/Treasury is tweaking the trend and supporting bonds which is turning already bad environment for cash to truly awful for cash and good for inflation. As long as that trend continues Dips are bought in commodities (even oil even if peace) stocks, and gold. Rallies are sold in bonds When does it end? How does it end? Different ways. Hike until it ends Let long end do what it needs to do instead of actively suppressing Ai takes longer to work than expected Private sector financing capacity gets exhausted Prices become extreme and can't breath in the thin air. Inflation forces fiscal austerity and consolidation to assuage the populous. Some or all of this at once Always own beta is always true.
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