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Of course it's bullsh1t... Whether you consider that the major central banks like the Fed target equity mkt valuations and/or their changes is a separate discussion.

This is interesting, in light of the discussion: https://www.nytimes.com/2017/05/22/us/trucking-jobs.html Correct me if I am wrong, but there was a time in the past when truckers in the US could be classified as "middle class"...

Apparently, she didn't actually say that...

Suit yourself...

I can see that... If you say so...

Yes, but is this causation or correlation? A higher %age of the population speaks English in Cyprus than in Germany and yet... I am not quite convinced, although I think integration into the world economy is a factor.

Hmmmm, is that right? Is there data for this somewhere? It would be an interesting phenomenon, if true. My personal experience had been that it's often as hard or even harder to find an English speaker in Germany or France than in Italy. You can find the details of the OECD methodology if...

It's very hard for me to quantify "attitudes and lifestyles", so I don't really know how to respond to such an assertion. All I'd say is that, at least according to the OECD here, the poverty rate in the US is higher than in any European country.

So the EU28 (soon to be EU27) debt/GDP fell to 83.3% in 2016 (Eurostat data as of 3Q 2016). Compare this to arnd 106% for US and arnd 150% for Japan. In fact, the only countries in Europe whose debt/GDP ratio is higher than that of the US are Greece, Italy, Portugal and Cyprus. Moreover...

Western Europe is borderline bankrupt? I presume you're getting your information from those "special" websites?

It's reasonably clear that this is a hedge... You can argue about how viable it is as a hedge, but only Fitty knows this. If it is indeed the Ruffer guy who has been around and has $20bn AUM, it's hard to imagine that they're doing something really stupid. Point is that nobody knows and...

His alleged position is shown on the graph in the OP's article...

If only it were that easy to make money, we'd all be doing it... Look, as of the end of Jan, Fitty apparently spent at least $33 bucks of premium (see here). All those options have obviously expired worthless already. His cumulative PNL can't be up $27 bucks, given the move in VIX and the...

I don't get this... How can this possibly be a "huge payday? Firstly, it's a hedge for an equity portfolio, so the PNL will depend on how much was lost there. Secondly, hasn't the guy spent $90mm in total premium on these options? Does making 27 bucks on the day make the 90 disappear...

I dabble...

Well, look on the bright side... There's a lot more middle class in China now.

No, strictly speaking the term for this is "middle income"... You can read abt all these interesting things here: http://www.pewsocialtrends.org/2008/04/09/inside-the-middle-class-bad-times-hit-the-good-life/ http://www.pewsocialtrends.org/2012/08/22/the-lost-decade-of-the-middle-class/...

Defining "middle class" is indeed quite tricky... If I am not mistaken, it's traditionally based on self-identification.

Nothing to see here, move right along... Straight from the man himself: https://www.bloomberg.com/news/articles/2017-05-14/home-capital-s-unique-troubles-are-contained-boc-s-poloz-says :)

Fabozzi is unlikely to help... You need a book about macro, rather than bonds.