Mark Moss explains the reverse crash: asset prices rising faster than wages, eroding what you can actually buy. He points to a 30-year Treasury threshold from Bassett that signals when the Fed will intervene, and compares today's environment to post-1945 financial repression, when most assets couldn't outpace inflation.
And it's a reverse crash because instead of asset prices going— coming down, home prices coming down, food prices, gasoline prices, travel prices coming down, while that looks good on paper, the problem is that your wages don't keep up. Not because things came down, because they went up faster than I could afford them. That's the reverse market crash. And that's what happens during these periods of financial repression like we saw after 1945. And what Bassett just said is the signal to the market. We're reentering that again right now. Right now, but he sent the signal to the market. The signal was sent. The threshold has been defined. Drew the line in the sand. He said, "Oh, if 30-year goes over that, we're stepping in hot and heavy." And what the markets love, traders love, is to know where that line is. And now it's been set. The debasement trade continues. It confirms it. I showed you which assets are going up and which assets are not going up, and most assets are not going to keep up in this environment.
