@Michael Burry @Kakashii @Signal Stack Research LLC @HelenWheels @Scott Aaron Rogers @Rooster Crows @Abby Hanlon why all roads lead to Indiana? The proud owner of an empty $200M F1 HQ, subsidized by the state.
"The customer at the end of all this is an annuity holder, a retiree somewhere near the Indiana suburbs where Group 1001 keeps its offices, who bought a Delaware Life contract because the brochure said it was safe."
I guess maybe I am crazy and missing the point possibly (at least based on some of the comments so far?) but maybe you can clarify....
My read on this story is .... "holy h-e-double hockey sticks" - this is crazy...the annuity holders think they have something of value in their accounts and all they really have is the over-priced promises of a baseball team?
So as long as the team keeps performing (aka - the economy keeps funding its debt cycles) they have nothing to worry about....but if some sense of reality comes back into the economy (when a large enough % of the have-nots opt-out (and/or straight up riot)) and we head back into an economy of the 70's-80's era inflation/stagflation.... then all these people are going to watch their life-savings flushed down the proverbial toilet???
Which isn't really too far-fetched of an idea?
It just amazes me that people are so delusional as to think this isn't going to happen at some point... especially when you provide such in depth and well researched information as to how "cooked" the books really are.
I guess I have to start up my own appraisal company - to value my own house at 1 billion dollars and then have my bank provide me a loan against it - and go buy a yacht (or 5) and just keep my appraisal company one step ahead of the regulators??? Though in this case it sounds like the regulators are "in on it" or at least they understand that if they pull the rug now....they are all flushed?
I mean this is literally the idea of "too big to fail" and yet....I don't think it can literally keep going forever? Can it?
The story turns on a question that sounds almost administrative: who should be considered related to whom. Yet once that answer changes, the entire picture changes with it. The economics did not move. The understanding of the economics did.
@Michael Burry @Kakashii @Signal Stack Research LLC @HelenWheels @Scott Aaron Rogers @Rooster Crows @Abby Hanlon why all roads lead to Indiana? The proud owner of an empty $200M F1 HQ, subsidized by the state.
Well that’s crazy
https://substack.com/@tompigott/note/c-221517763?utm_source=notes-share-action&r=2hnppj
That’s some wild shit
Great post bro! Just followed!
Nice forensic work.
"The customer at the end of all this is an annuity holder, a retiree somewhere near the Indiana suburbs where Group 1001 keeps its offices, who bought a Delaware Life contract because the brochure said it was safe."
https://substack.com/@michaeljburry/note/c-243578877?r=2hnppj&utm_medium=ios&utm_source=notes-share-action
I guess maybe I am crazy and missing the point possibly (at least based on some of the comments so far?) but maybe you can clarify....
My read on this story is .... "holy h-e-double hockey sticks" - this is crazy...the annuity holders think they have something of value in their accounts and all they really have is the over-priced promises of a baseball team?
So as long as the team keeps performing (aka - the economy keeps funding its debt cycles) they have nothing to worry about....but if some sense of reality comes back into the economy (when a large enough % of the have-nots opt-out (and/or straight up riot)) and we head back into an economy of the 70's-80's era inflation/stagflation.... then all these people are going to watch their life-savings flushed down the proverbial toilet???
Which isn't really too far-fetched of an idea?
It just amazes me that people are so delusional as to think this isn't going to happen at some point... especially when you provide such in depth and well researched information as to how "cooked" the books really are.
I guess I have to start up my own appraisal company - to value my own house at 1 billion dollars and then have my bank provide me a loan against it - and go buy a yacht (or 5) and just keep my appraisal company one step ahead of the regulators??? Though in this case it sounds like the regulators are "in on it" or at least they understand that if they pull the rug now....they are all flushed?
I mean this is literally the idea of "too big to fail" and yet....I don't think it can literally keep going forever? Can it?
Hi Nick -
Any thoughts on Accenture? I know this isnt the right thread, but just wanted your thoughts.
Thanks!
Chats better. Not much of a view tho
The story turns on a question that sounds almost administrative: who should be considered related to whom. Yet once that answer changes, the entire picture changes with it. The economics did not move. The understanding of the economics did.