On the right track with shipping

They blew up a gigantic worldwide debt bubble using artificially low interest rates and other manipulations. There’s now so much debt – much of it unproductive – there’s no way to service it.

Wednesday, April 12, 2023

Chiswick, West London

T-bills are yielding 5% again… but only the 3-month ones. 

I’ve never seen the yield curve as inverted as it is now. It tells us short term interest rates…