Strategy, business, finance, economics, entrepreneurship. They are my favourite things after #Bitcoin
Australia
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US regional banking crisis triggers violent equities sell off, bonds wiped out, bank runs seeing dozens of banks on brink of collapse, green back under threat by Bitcoin as safe haven, too big to fail again, UST demand destroyed
Probable news headlines coming soon
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Max McFarlane retweeted
David Friedberg: It's not rich vs poor, it's makers vs takers.
@friedberg:
“ The great lie is that there are two sides to society, that is the rich and the poor.
And the great truth is that there are two sides that are the makers and the takers.
The lie is that the rich are unfairly rich and the poor are unfairly poor, and therefore, the poor must take from the rich.
But the truth is that it's the takers that tell you that lie, that the real truth is that artists, plumbers, electricians, woodworkers, computer scientists, people that build, people that make from all walks of life, all income levels, all wealth brackets, are the makers.
And the takers are what Sacks calls this intelligentsia, the analysts, the espousers, the armchair mechanics, the critics, the commentators, the politicians. They are the takers.
They are the people that watch the rest of society make stuff, build stuff, specifically doing things that create value for other people in society. That's what a maker is.”
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Max McFarlane retweeted
These changes can turn Australia into a world-class economy afr.com/markets/equity-marke…
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Max McFarlane retweeted
Ship Of Shame: Australia Saved By Trump's Emergency Fuel Shipments zerohedge.com/geopolitical/s…
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Max McFarlane retweeted
IMF Warns Australia Set For One Of Highest Inflation Rates In Developed World zerohedge.com/economics/imf-…
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He is a simple man
🇦🇺 Australia’s PM Anthony Albanese had to leave a mosque visit in Sydney early after things turned hostile.
People inside started shouting at him, swearing, and confronting him directly.
In the end, he was escorted out through a rear exit.
x.com/TheBritishIntel/status…
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Australia is failing 2 of these, most likely a third in the future
To elaborate, it’s critical to 1) educate your children well so that that can be productive and civil 2) have a society in which people can be productive and civil with each other, ideally with good legals and capital market systems, and 3) stay out of wars, domestic and international. Successful countries are the ones that do these things well and get the fundamentals right, such as earning more than they spend and having more assets than liabilities.
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Kevin Warsh was a great choice
We who have been engaged with policy makers and markets for a long time know him and respect him for his capabilities and his judgement. He is knowledgeable and a reasonable man who understands the risks of having a Fed policy that is too easy as well as too tight and how to judge what's too easy and what's too tight. Presumably, he also knows how to deal with the president and the Treasury well.
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Max McFarlane retweeted
Global asset landscape - 2025 update!
In 2023, there was $900T of global wealth. Today, that number has grown to $1000T.
THREAD on the key insights of this analysis...
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Max McFarlane retweeted
If you follow the news, it’s probably clear to you that the current monetary order, domestic political order, and international geopolitical order are all on the brink of breaking down. We are headed for great conflicts and disruptive changes.
That’s because the world order is now changing in a way that I described in my book and video Principles for Dealing with the Changing World Order.
Put simply, there is a pattern of cause-effect relationships that drive the rise and decline of empires. Changes like these occur in a Big Cycle that we can understand by examining how they have occurred across countries throughout history. And you don’t have to take my word for it — the underlying metrics are measurable and show us how a typical cycle transpires.
I hope you’ll read the book — or watch the full animated video at the link in the comments — and learn about it so that you understand what we’re dealing with, and what you can do to navigate the interesting times ahead.
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Max McFarlane retweeted
My view is that buying and holding real estate is not an effective investment strategy in our current economic environment, for a few reasons.
1) Real estate is more interest rate sensitive than it is inflation sensitive, so given our current circumstances it is likely to go down in real terms
2) It is a fixed asset that is easy to tax, which limits its impacts on your ability to diversify
3) Real estate is nailed down, so investing in it makes it more difficult to move money from one place to another
That’s my view, in a nutshell. I’m curious to hear if you agree.
#GovernmentDebt #debt #principles
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Australian housing market. Rental yields do not cover the debt service.
If incomes fail to grow as quickly as debt and debt service, the ratio of debts to incomes will mechanically grow, which will require increased borrowing to service debt as well as to spend. The cycle goes from low to high to unsustainably high debt and debt service relative to incomes.
For a picture of where we are headed and what we should do, you can order my new book, How Countries Go Broke: The Big Cycle, here: amzn.to/4kkZJV4
#howcountriesgobroke #principles
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Max McFarlane retweeted
Being useful at scale is the hardest thing in the world
ELON: IT’S INCREDIBLY DIFFICULT TO BE USEFUL TO A LOT OF PEOPLE
“Try to be as useful as possible.
It may sound trite, but it's so hard to be useful, especially to be useful to a lot of people, where you say the area under the curve of total utility is how useful have you been to your fellow human beings times how many people?
It's almost like the physics definition of true work.
It's incredibly difficult to do that.
And I think if you aspire to do true work, your probability of success is much higher.
Don't aspire to glory, aspire to work.”
Source: Elon Musk at Y Combinator, June 2025
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Max McFarlane retweeted
Bitcoin has been recognized as a reserve asset by the U.S. housing system — a defining moment for institutional BTC adoption and collateral recognition.
After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.
SO ORDERED
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Max McFarlane retweeted
The #1 thing you should look for in an investor is conviction.
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Max McFarlane retweeted
Elon Musk Leaves Job Of Making Government More Efficient For Much Easier Job Of Sending Humans To Mars buff.ly/faLsGrt
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Max McFarlane retweeted
Australia's Unrealized Gains Tax Will Be A Lesson In Economic Suicide zerohedge.com/markets/austra…
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Bitcoin
In 1971, the US ran out of money and defaulted on its debts. Now, they didn’t say it that way. But by moving away from the gold standard, money as we understood it ended.
I expected the stock market to plunge, but it went on to rise nearly 25%. That surprised me. But when I looked into it, I discovered the exact same thing happened in 1933 and it had the exact same effect.
Here’s why.
#principles #raydalio #history #economics
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