Chapter 893 – Powell’s Funeral
Discussion.
Logic is not important.
“I’ll try imitating Michael Burry’s voice.”
“Imitation of vocal chords?”
“Sell.”
“Phew!”
It attracts attention.
Create supporters.
The flow of conversation.
‘It’s the ability to lead in this direction.’
What is right and what is wrong.
It may have significance in the scientific community.
Not in economics.
No one can tell who is wrong and who is right.
“The point is to shout out the single word Sell with a serious face and without any further explanation. Isn’t this pretty similar?”
The stock market decides.
In other words, it would be a waste to argue here.
Impact.
All you have to do is focus on public opinion.
Pointing out trivial things.
“I’m not here to play with words. Since when was this a variety show?”
“Wouldn’t it be better to have fun?”
“This is a serious topic!”
As the person in charge, I don’t like it.
Michael Burry screams.
‘That’s because I’m riding a tightrope.’
Cyan Asset Management.
This is a hedge fund where he is the fund manager.
I heard about the reputation of The Big Short.
This was the reason why many investors entrusted their money.
“There is no free lunch. Don’t try to cover up the stock market saying with puns.”
Returns are sluggish.
This has become especially true in recent years.
Sell!
Short Chung couldn’t break his habit.
Whenever I get a chance, I try to watch the downside of the stock market.
“A friend can buy it for you.”
“Playing with words again…”
“Now Powell is buying me food, saying he’s my brother. It’s not Dutch Pay.”
” Haha!””
I was left out of the crazy bull market that started in 2018.
Conversely, I even suffered a loss.
‘Going short on Tesla’s ten-bagger.’
The Big Short is also to some extent.
It is natural that customers’ disappointment is increasing.
It was also withdrawn from the fund.
Compared to the past, we are operating on a shabby scale.
“Because I couldn’t eat even when I had to, I sold even during the coronavirus pandemic. That’s why I shorted Tesla. You can’t say that there’s no free lunch when someone else offers to buy you a meal.”
That’s probably why I’m here now.
You must appeal your value.
The impact of the Big Short.
It is obvious that the goal is to explode once again.
“Let me clear this up. Representative Lee Chan-wook, are you saying that you will spread liquidity like Powell did in the days of zero interest rates?”
“To put it bluntly, that’s right.”
“The current interest rate is 4.75%…”
It is a good time to be accepted.
As the host said, it is not serious.
‘I didn’t expect interest rates to rise like this.’
I couldn’t even imagine it a year or two ago.
It was so ridiculously high.
The economy is in recession.
Banks also fail.
When you hear the screeching red signal.
“Interest rates are not that important. What’s important is that the Federal Reserve is spreading money. Once again, there will be a major bull market like the Corona era.”
I am shaking with anxiety.
You think something is going to happen.
It encourages it.
The short bug is the leader.
Michael Sucker gets serious again.
“Is that how you interpret BTFP?”
“Why is that?”
“Even if that statement is true, there are many logical holes!”
My hands and feet are shaking because I want to hit a short.
You could say he is a short addict.
‘If I had been born in Japan, I would have played pachinko.’
Born in the United States, he became a successful investor.
This is why the starting point is important.
That’s why I know something.
American history.
The government’s reckless spending.
“Imagine in the ’80s, when every dollar of GDP grew you needed 40 cents of new debt. Now you need over 3 dollars of new debt. Helicopter cash spraying doesn’t make the economy grow.”
It has been repeated.
There is no way an incompetent government can only have one senile old man.
‘Well, that’s the truth.’
80’s.
It is often compared to the present.
Inflation weighed heavily on the economy.
Loosing money only makes the side effects worse.
In the end, Paul Volker takes the mound like Shanks.
“I came to end this war. I was truly an inflation fighter.”
“Oh…, Volker was really great.”
“But Powell feels like Satoru Gojo.”
“Yes?”
I expect that he will deliver the final blow.
Just raise your expectations so high.
「Win.」− Gojo Satoru haha
It has become a heat hunt.
I have no intention of insulting the deceased, but it is true that it is funny.
‘Same thing.’
It’s a story that could happen.
It looks strong, but in reality it is nothing special.
“You’ve been joking around since a while ago. You’re avoiding the point! Don’t you know that many people trust and invest in you?”
“You trust me and invest in me?”
“Yes!”
“Win.”
“Phew.”
Even if I slow down the economy like Volker did, I will control inflation.
That’s not possible.
‘Something like this.’
Seeing is worth hearing.
No matter how I say it, it is meaningless.
It is not a story that can be explained.
Just paste the image.
Michael Burry.
The fact that I am the one in opposition.
“Isn’t winning a bit similar to selling? Mr. Burri, you also have a bit of a Gojo Satoru feel to it.”
All you have to do is stimulate the nerves moderately.
The lid opens and lets the streets run wild.
It’s working well.
Although I am desperately trying to spread the truth by myself.
“Even if we give in 100 feet and say that BTFP is really a liquidity easing policy… It is different from the stock market rising. Rather, it will only stimulate inflation.”
“Does this mean that interest rates can rise further than they are now?”
“That’s right!”
That’s what it wants.
It only leaves a deeper impression.
Short bugs are imprinted as large intestines.
I also have confidence in myself.
It is a severe short-term addiction that is comparable to marijuana.
“CEO Lee Chan-wook’s position is that interest rates are not that important.”
“Of course.”
“Mr. Burry, you are saying that high interest rates will weigh heavily on the economy?”
“Common sense says so.”
Sitting alone on a cushion while others are suffering.
Monopolize the spotlight.
It is likely to cause symptoms of poisoning.
But what always repeats itself historically.
‘Short Chung gets his dreams, and Long Chung makes money.’
One thing was not calculated.
Human desire.
Bottomless malice.
“I think the CEO needs to give a more specific explanation…”
“It is wrong to use the 80s as an example.”
“What do you mean?”
“There was a Federal Reserve Chairman back then, but now the Federal Reserve Chairman is dead.”
“…”
They do anything for their own safety.
He doesn’t hesitate to tell lies.
They are scared.
In order to avoid being recorded as a failure, inflation was tolerated.
“Temporary inflation… Was the biggest buzzword of 2021. Was 2022 about sticky inflation? 2023 will be the death of Powell.”
Coward.
It was fully exposed due to BTFP.
It is no exaggeration to say that we have seen the bottom of Powell.
Paca Cola is fact bombing Paca Cola!
She is retracting her remarks.
“You mean it will stimulate inflation? Interest rates will rise further, and the economy will falter further!”
“Then I can just spray more, right?”
“What kind of nonsense is that…”
“Brother Powell took a shot, right? If Yellen does this too, Gao will be hurt. Next time, Yellen will take another shot.”
It makes no sense.
That can’t be possible.
Doing such things is called ‘politics’.
Even that must be taken into account.
Because the economy is like a living creature.
‘After all, humans are fun.’
A battle between reason and greed unfolds.
* * *
It attracts the attention of the market.
—————————–±
『NASDAQ Composite Index』
12,207.89 ▲496.82 (+4.24%)
[Graph of 10% plunge and then rebound. Jpg]
±——————————————–
Stock market.
The situation is mixed.
There cannot be any repercussions from SVB’s bankruptcy.
The situation was resolved thanks to the quick response of the government and the Federal Reserve.
Although it rebounded to some extent.
“Lee Chan-wook is super long?”
“I made a very strong statement on the air.”
“Hmm…”
Anxiety cannot completely disappear.
The spark still remains.
‘What Michael Burry said was never a lie.’
Wall Street.
We are trying to understand the situation.
There remain concerns of serial bankruptcies.
And it was not a coincidence.
Suspicious banks and companies are being confirmed.
“Signature Bank went bankrupt. Regional banks and Credit Suisse… It’s hard to say they’ve overcome the crisis.”
It would not be surprising at all if it led to a financial crisis.
Buying risky assets is an adventure.
Michael Burry’s decision is much more rational.
It is being revealed as a real reality.
Korean Newspaper− “This time it’s Credit Suisse… “Financial statement defects”
Fact News− “First Republic plunges 50%, crisis in U.S. Regional banks continues (supplementary report)”
Credit Suisse.
Even one of Europe’s largest investment banks collapsed.
American regional banks similar to SVB are also not normal.
It’s just a matter of time.
‘No matter how much Lee Chan-wook.’
Michael Burry was right this time.
Criticism of the Federal Reserve’s new policy.
〈It is only a temporary liquidity supply to reduce the risk of bank failure.〉
Powell is dismissing it.
BTFP.
They only lend money based on long-term bond collateral.
It forces banks to build up loan loss reserves.
It prevents bankruptcies from occurring.
“It is true that it is reducing market anxiety, but Super Long…”
“There are many leaps and bounds.”
Banks also have limited capacity.
Just coping with the current crisis is difficult.
The general rise of the stock market.
The view that this was not a situation that would happen was certainly valid.
‘You are lending money at the face value of long-term bonds?’
‘If only I make a good investment with this money.’
‘Just pay it back.’
In humans, greed only brings about different judgments.
