Chapter
The Capital Markets and the Government
41:44 - 46:35 (04:51)
The capital markets and what the government thinks are happening have become completely decoupled as interest on national debt could become 30% of the government budget when interest rates go back to the historical norm.
Clips
The volatility in February was caused by the realization that all the money being put into the market would drive prices higher, and that interest rates, when they revert to the norm, will cause interest expenses on debt to rise to 30% of the government budget.
41:44 - 43:50 (02:05)
Summary
The volatility in February was caused by the realization that all the money being put into the market would drive prices higher, and that interest rates, when they revert to the norm, will cause interest expenses on debt to rise to 30% of the government budget.
ChapterThe Capital Markets and the Government
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PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Janet Yellen caused controversy when she suggested inflation could be a possibility, while Uber CEO Dara Korshashawi claimed that New York Uber drivers were earning an average of $38 per hour.
43:50 - 46:35 (02:45)
Summary
Janet Yellen caused controversy when she suggested inflation could be a possibility, while Uber CEO Dara Korshashawi claimed that New York Uber drivers were earning an average of $38 per hour. Meanwhile, the speaker hinted that capital markets will take control if political actors don't act satisfactorily.