Perspective........
NVIDIA over 3 Trillion USD AFTER it's Deepseek hit, down 300 Billion. The world's biggest 50 miners ....1.28 Trillion in aggregate, down 480 billion since their last high, 2nd q 2022.
https://www.mining.com/graph-mining-vs-ai-vs-deepseek/
The trade war has kicked off.
Interesting image depicting a different way to see government debt as a % of global debt, and in terms of size of debt compared to many other economies.
Of note:
NZ lower than Norway, which has a massive oil sourced future fund
Australia looks to be in a better position than many, three times larger than Norway but with almost 6 times population. Some debt is good debt perhaps?
Turkey small given its leaders take on how to manage inflation and interest rates
Growth of both US and China debt sounds incredible - we often talk of US but China is in there competing there also
Data today shows GDP negative on a per capita basis for the 7th quarter in a row. The longest contraction since the 70s
In October, business insolvencies hit a record level.
67% of households are experiencing housing stress. And real wages back at 2012 levels.
..and yet, market at record highs, unemployment low and retail sales improving.
My best explanation is a bifurcation of the economy. Those with assets and modest debt have been sheltered from inflation, while those without are going backwards. In a big way. (Assets being strengthened from all the additional liquidity we pumped into the system).
You also have massive government spending (eg NDIS) and insanely strong immigration that help mask things at the aggregate level.
How do others square this circle?