Locator: 48482INV.
For the past week, a most common phrase on CNBC has been "the carry trade."
This is"the carry trade," link here:
- borrowing money in a non-US currency,
- in a country whose central bank is lending money at zero interest, or even at negative, rates,
- to buy US dollars,
- with which to buy US equities.
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My Favorite Chart
I've not heard anyone talk about this, but pray tell, from where is all the money coming when MMFs and the US equity market are both at all-time highs.
From where is all that money coming?
That's a rhetorical question.
The answer: the great / generational wealth transfer. Link here.
The baby boomers, 1946 - 1964.
Those baby boomers who live to be 75 years old -- they reached/reach that age ... the earliest ones, 2021 -- the last one 2039. In other words, this great / generational wealth transfer has literally just begun.
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A Musical Interlude
Headphones, and play it loud.
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