Veteran macro investor Luke Gromen warns holders of US Treasuries that their investments will likely turn out to be unprofitable.
In a new interview with Nicole Shanahan, Robert F. Kennedy Jr.’s vice presidential running mate, Gromen says the United States’ lack of domestic manufacturing capacity is becoming a threat to national security.
“We might have 10 times the GDP Russia has, but Russia produces oil and stuff, and some big chunk of our GDP is flipping monkey JPEGs back and forth at ever higher prices and flipping houses back and forth, which is fine in peacetime, but in wartime they’re useless. And so the Russians are outproducing us with one-tenth our GDP.”
Gromen also argues that the real value of the US debt is “the biggest short.” He explains that while US Treasury investors will able to get their money back, he believes the purchasing power of the dollar will eventually plummet.
“You’re going…
