Loading ...I stopped at 6 minutes when he said….
“The Swiss created a 50 year bond paying negative rates. This means the Swiss see nothing positive for the economy for the next 50 years”
I totally disagree with that. The financial system was globalized. Like taking 4 engines off a 747, and converting it to a 1 big engine. In the summer 2008, it was realized, the one big engine idea is not safe or practical.
The entire globalization thing is very gradually reversing itself naturally back to separate independent self relying countries. Note North Korea, Cuba in the 50s, South Vietnam dropping out, Iran dropping out, and recently USA with Trump, and the UK dropping out.
So, the 747 is gradually going back to 4 engines which is better, not negative. I think it the theory of positive negativism. I’ll go back now and listen a little more, to see if he’s in the groove.
The future is always a surprise for most people. And people who are first, always look wrong at first.