Oddbean new post about | logout
▲ ▼
sourcenode | 5 months ago (raw) | root | parent | reply | flag +3 
 I reached the same conclusion. There's no telling when it will happen, but we have already crossed the event horizon.

Meanwhile the fed has not managed to reach the 2% CPI goal and can't tighten any further. They already triggered a bank collapse the same size (financially speaking) as 2008 and plugged the hole.

They may have to reduce rates to keep the government solvent. (Inerest on the debt alone is nearing 1T annual)

If that happens the bond market and the dollar will be dangerously weak.

Glad I'm commenting on this from the life raft. #bitcoin
▲ ▼
BitcoinStu | 5 months ago (raw) | root | parent | reply | flag +1 
 stablecoins buying treasuries will help keep bonds strong.  Soon they will be the largest buyer and soon after that the largest holder.

US economic collapse not happening yet.
▲ ▼
sourcenode | 5 months ago (raw) | root | parent | reply | flag +1 
 I've been noticing the same thing. Probably also incredibly bullish for bitcoin and stabilizing for the dollar.

It's unbelievable to watch cryptocurrencies prop up the US economy, but if it makes for a more peaceful transition I am all for it.
▲ ▼
The Fertile Cresent | 5 months ago (raw) | root | parent | reply | flag +1 
 Stable coins are not for holding either? Don’t get caught holding or working for dollars or dollar backed assets