Such an incredibly cold night, with the smell of forest fires & the time of year, reminds the lion kingdom of camping in Yosemite at 8000 ft. It's like the air from Yosemite got blown west. Despite hot days, the nights got incredibly cold & the peak of our camping years involved a whole week in July, every year, with plenty of marital arguing. There's no memory of how many years we did the full 8000ft week. The trips got shorter & the last one in the early 90's ended after just 1 day.
What lions think is happening is index funds are earning interest on large treasury positions. They're putting the interest into stonks to manetain a constant allocation. It's not millennials pouring money in the stonk market expecting lower interest rates. High interest rates are pushing up stonks like the 90's. Millennials are taking money out of the stonk market to buy houses & pay their mortgages. Important reminder that lions would only barely get by & be fairly unhappy if they retired now, drained their savings to buy a house, & couldn't afford a lot of things they hoped to have. Lions don't expect to have the coordination required to play it, when the time comes. Maybe they could just play chords. Would definitely have to learn how to tune it & regulate it. If lions didn't have to buy a house, things would be better. 40 years ago, bonds were called fixed income because the standard method was to use interest as a sou...
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