$35,000,000,000,000 US Debt Is Now ‘The Biggest Short’ According to Macro Guru Luke Gromen – Here’s Why
Veteran macro investor Luke Gromen warns holders of US Treasuries that their investments will likely turn out to be unprofitable.
In a new interview with Nicole Shanahan, Robert F. Kennedy Jr.’s vice presidential running mate, Gromen says the United States’ lack of domestic manufacturing capacity is becoming a threat to national security.
“We might have 10 times the GDP Russia has, but Russia produces oil and stuff, and some big chunk of our GDP is flipping monkey JPEGs back and forth at ever higher prices and flipping houses back and forth, which is fine in peacetime, but in wartime they’re useless. And so the Russians are outproducing us with one-tenth our GDP.”
Gromen also argues that the real value of the US debt is “the biggest short.” He explains that while US Treasury investors will able to get their money back, he believes the purchasing power of the dollar will eventually plummet.
“You’re going to get every dime back in Treasury bonds you own, but it’s going to go from buying you a diamond necklace to a cubic zirconia necklace to crackerjacks on a string that you used to make for your mom at Christmas time when you were in first grade.
That’s what Treasury bonds are going to do and that’s just how these things work out. The boomers are going to pay for their healthcare one way or another.”
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The post $35,000,000,000,000 US Debt Is Now ‘The Biggest Short’ According to Macro Guru Luke Gromen – Here’s Why appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
