Blaming the resurgence of the virus pandemic, she said economic growth in 2021 is “slowing.” She also said that “there was a problem that was postponed but could not be avoided” – the ability of households to pay off their mortgages and pay off any other debts. During the virus pandemic, financial institutions around the world agreed to give businesses and households grace periods so they don’t have to pay back their debts. Reinhart then asks the trillion dollar question: What happens when these grace periods come to an end?
To summarize, Reinhart suggests that the world will face a financial crisis if the pandemic continues to disrupt the global economy. This was similar to the message in which SoftBank CEO Masa Son warned a couple of months ago of an impending “catastrophe” that could bring global markets down. More recently, a recent research note by GMO co-founder Jeremy Grantham suggested that “this bubble will burst in due course, no matter how hard the Fed tries to prop it up, with a consequent devastating impact on the economy and portfolios, for most investors today it could be the most important event in your investment life. ” And given the sharp rise in 10-year nominal yields in recent days, the bubble is likely to burst much faster than we think.
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This is why Bitcoin “rejected” the $ 42,000 mark
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