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But we saved everything 🙂.
Luke Gromen, industry influencer, comments on the current state of dollar dominance, suggesting it means China is acquiring the U.S. defense industrial base at low valuations. He also notes that U.S. Boomers and banks are investing in negative real yielding U.S. Treasuries, which finance deficits but result in real capital losses.
Gromen's perspective highlights concerns about the broader implications of global capital flows and the sustainability of current financial strategies involving U.S. government debt.
Gromen previously described how the Southeast Asia crisis led to a prolonged recession in the U.S. industrial sector despite early reassurances. He has also argued that gold may need to rise 2-3x to return to prior levels seen in past bloc eras. These comments add context to his concerns about the current direction of U.S. financial policy.