Not to people with 3% mortgages.

Marks says raise taxes even though fraud and wasteful spending is out of control. He then says growing GDP is the solution. GDP is growing because of tax cuts. Why not advocate reductions in fraud and wasteful spending. Marks sounds like a timid leftist clown.

Very high relative to DEBT LEVELS.

Interest payment as percentage of budget or GDP is the key measure. Interest is not close to highest level. But debt has become astronomical

Don’t tell Andrew

Howard you are wrong. Here's Grok answer: A 5% yield on the 10-year U.S. Treasury is roughly in the middle of the last 50 years (1976–2026)—neither especially high nor especially low. eco3min.fr Key historical context Long-term average (daily data since 1962): about 5.8%. The last 50 years include the very high-rate 1970s–1980s, so the 50-year average is similar or a bit higher.eco3min.fr Peak: 15.84% in September 1981. Trough: 0.52% in August 2020. Percentile: Recent readin

Rates on what, Howard? Debt? How do global debt levels look relative to the last 50 years?

We had zero rates for a decade - so that convo doesn't really register w people

Did Howard show some doubt as to the safety of investing in Treasuries? I think he did!

They are high rates compared to zero!

Please replace the Sorkin Child with Sully. Please. I'm begging you. That kid is more annoying that a rock in your shoe. Sully for the desk. Thank you.

Yep

“the strength of the economy tend to deliver higher rates” We’ve been told repeatedly that the US economy is on the brink of collapse.

Ok. It’s a spread based world. We need real wage inflation and real investment returns to make these rates normal which isn’t happening. Yes tech stocks have ripped but I mean the overall earnings yield on equities and credit is not compensating yet.

True

Zero was the aberration, agreed. But as Sorkin alluded to, fifteen years of it built the balance sheets. So normal rates against abnormal debt isn't stability, it's a slow collision.

Prudent man. A parabolic rise in GDP could address debt if it plays out.

@grok Higher debt is higher SPY

Jews love usury

Fact!

I think Andrew has a point

andrew is hyper based these days

Howard Marks be like “time will tell”

Rolling out Howard Marks is always a sign