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Us debt is going to end the world

Before we get into this week’s note, just a quick shout out to Tom Mitchell over at the NGMI Newsletter.

Love the name.

Love the content more.

If you need to get to grips with the latest narratives, crypto buzz and gems kicking about, make sure to subscribe to the NGMI Newsletter…

Tom has been a journo at Cointelegraph for a long while now and is one of the best in the biz at spotting crypto opportunities (way better than me, anyway!).

Bit of a weird headline is kicking around right now…

From Bloomberg, nonetheless.

Wow.

I am shocked that this has been found to be the case.

I mean, there has literally never been a time ever when the US debt was not sustainable, right? (sarcasm)

If you do a Google search for ‘national debt too high’ and exclude any articles from after the pandemic hit, you can see that people have been worried about the national deb for literal decades…

This is not me suggesting there’s no worries here — it’s just me saying that perhaps we need to think of things a little differently.

For instance, would it have been a good idea not to have increased the debt over the pandemic and just let people fend for themselves?

Or why has there been little consideration given to who owns the debt (the Fed has increased ownership MASSIVELY, so context of post pandemic debt creation vs pre-pandemic is very different).

But also no consideration given to the fact that perhaps looking at what the debt tends to get sucked into is important (hint: property, more specifically land values).

The lesson: try not to take these headlines at face value.

Economists are some of the most wrong people on the planet.

ICYMI

Oil hits 5 month highs after our article on how to take advantage of the commodity move was clearly read by everyone in the industry (sarcasm, again).

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What you need to know this week

The UK simply hates investing in itself.

Is there any wonder we have such poor productivity when we just don’t really fancy upgrading anything?

Less money into property investing, more into our businesses I say!

And this is proved by the below Tweet from Simon French.

It’s very simple. We love putting money into a highly unproductive ‘asset class’ here.

In the US, they clearly prefer to invest in businesses 🤷‍♂️

The most important chart of the week

Doc Marten seems like they are going to go private.

We at Fink ABHOR Doc Martens.

Ugliest shoes ever, and the shares’ performance since IPO reflects this.

"Maintaining Dr. Martens as an independent publicly traded company is likely no longer in the best interests of shareholders," Mario Cibelli, Marathon Partners' managing member, wrote to the company's board last month.

Good.

Hopefully a ban on the shoes occurs soon after.