Posted on 12/30/2022 8:15:07 AM PST by Kaiser8408a
Wipeout!
More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red.
With a drop of more than 20% in 2022, the MSCI All-Country World Index is on track for its worst performance since the 2008 crisis, as jumbo interest rate hikes by the Federal Reserve more than doubled 10-year Treasury yields — the rate underpinning global capital costs.
And in the US, we have the S&P 500 index being pulverized by Fed rate hikes to in their attempt to slow inflation.
And in the US, mortgage-backed securities and Treasury securities are also getting pulverized by inflation and Fed rate tightening.
We are now left with the leftovers like high inflation.
Speaking of leftovers, …
(Excerpt) Read more at confoundedinterest.net ...
The rate hikes are a direct result of Bidenflation, caused by his strangling of energy production and blockading transportation.
Even with the Covid stupidity we were not anywhere near this kind of crap.
Rates had to come up eventually but not like what the Fed was forced into after the Presidency was stolen.
Isn’t an outlier like being unique?
Wonderful and special...
My 401k is heartbreaking. Not much for old age except SS. Too old to go back to work. They’ll be pushing the Euthanasia thing here in a few years (just like Canada). I’ll end up in a Soylent Green factory.
Assuming that collective reporting by the governments of the world is even remotely accurate, the financial net worth of the world was $250 Trillion, global net wealth was $380 Trillion and the Gross World Product was $80 Trillion in 2021.
So, in a single year, 27.5% of Gross World Product, 8.8% of the financial net worth of the world, and 5.8% of the world’s total wealth got annihilated.
Looks like a global depression to me.
If Trump presided over this once in a lifetime disaster, he would be in jail, or worse.
That’s like my favorite Bar...But it got “Popular”
It is so crowded, nobody goes there any more.
:)
Looks like those “ crazy” goldbugs aren’t that crazy.Paper is just that, paper. Wait till the digital currency becomes reality, electrons on a screen.
Unfortunately, most here weren’t around in the 70’s to witness those distressed times. Inflationary times demand “ things”, held in the hand, not paper or electrons or “ promises to pay”, which can become worthless overnight.
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