The Macro Forces Driving Bitcoin | Plan B & Jurrien Timmer
Inflection Point
00:00
What Are the Unintended Consequences of This?
The financialization of the global economy makes interest rates a kind of the master o haultimately decidese decisive patus. The stock market is well, of course, via the wealth effect. And it's interesting, we were talking about a count of the mis pricing of bonds before a there is a direct channel from there toa equity valuation. A year ago, when the ten year yield was clearly repressed by c e, the market was six point too high in terms of its p e. That is being actually reset very rapidly now. So i think that that actually makes me more optimistic than a lot of the the reset that needs to happen in the stock market.
Play episode from 29:51
Transcript
