He Managed $70 Billion. Now He's Warning Everyone Disaster Is Here
Matt Cole argues that the US debt crisis is structurally unfixable due to political incentives, leading to inevitable dollar debasement and a weaker dollar policy.summaryThe US government intentionally seeks a weaker dollar to aid manufacturing, viewing dollar supremacy as a cost to American workers.takeawayBonds are considered toxic assets because while default risk is near zero, the inflation/debasement risk means the real value of returned principal will be significantly lower.takeaway

