Nic
@puckrin
Founder @coinbureau | Ex @GoldmanSachs | Mensa | Posts not financial advice |
加入 May 2012
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The man who taught Scott Bessent markets just torched his bond-buyback programme.
His mentor's verdict:
- Druckenmiller ran markets for 5 decades
- Calls this "price management", not liquidity
- $4B buybacks vs a $30T market = a subsidy to procrastination
- Suppressed yields let Washington dodge entitlement reform
His warning:
Every bps saved now costs multiples in delay.
Fix the deficit, or the bond market does it for you.
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