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Buttonwood

Sovereign-bond issuers shrug off downgrades

Bond-market vigilantes have lost their menace

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llandowner

Outright fear will guaranty that only ear-splitting silence will prevail. Who would rock a life-boat fully laden with refugees from reality ?

Kremilek2

"bond investors might wake from their slumber and take their revenge."
.
The question is if these bond investors don't want to exchange their bonds later on for e.g. state roads and thus make everything (now public) private. Assuming that many bond holders are smarter than a public it wouldn't be so suprising.

guest-ajomaeii

GE0RGI CHINK0V
II DRAGHI GAMBLES WITH EUROPE , YELLEN WILL PROFIT FROM SPECULATING VS EUROPE SOON

1 I M P O R T A N T

AS DRAGHI IS AFRAID OF CAPITAL BEHIND HIM , AND WANT PART OF YOUR DEPOSITS , REQUIRE WITH UNIONS DEPOSIT RATIONING FROM INDIVIDUAL COMMERCIAL BANKS AND ECB AS WELL
DRAGHI QE WITH OVER CONSUMPTION AND OVER INVESTMENTS START TO PRODUCE A LOT OF BAD LOANS THAT IS FATAL. DRAGHI IS ALSO AGGRESSIVE AS WITH NATO , ENDANGERS PEACE SOVEREIGNTY AND HIS OWN EU BANKS.
EU BANKS IN DEEP SOLVENCY AND LIQUIDITY CRISIS.

EXAMPLE DRAGHI AND USA CREATED POLITICAL INSTABILITY IN TURKEY LATELY. THAT REDUCES THE SOVEREIGN CREDIT RATING BY FITCH TO SPECULATIVE. MOST COMPANIES ALSO WILL BE SPECULATIVE BY THE RULE THAT CANNOT BE HIGHER THEN COUNTRY USUALLY. SO EVERY QE BROUGHT LOANS FOR SOME 40 BN IN POLAND ,TURKEY , OTHERS. SEE THEIR EXTERNAL DEBT TO KNOW HOW MUCH DEFAULT RISK IS ADDED . FOR CORPORATE IS SOME 6 % PER YEAR . SO THAT MUCH DEVALUATED BONDS FOR EU BANKS IF THEY HOLD IT. TENS OF BILLIONS EUR.
GREECE CLOSED TWO MAJOR NEWS PAPERS FOR DEFAULT. THINK FOR THEIR BANKS DEFAULT ,THOUGH EU STRIVES FOR BLUFFING EVERYTHING IS OK WITH LOANS. SO REJION FROM GREECE AND TURKEY TO ITALY IS IN CRISIS AND EU BANKS CANNOT STAND THE DEEPENING SOLVENCY AND LIQUIDITY CRSIS.
IF DISCOUNTED PROPERLY , IN THIS SCENARIO , THE USA MARKET SHOULD DECLINE , NOT CREATE IRRATIONAL EXUBERANCE. EU SOON WILL HAVE RATIONING AND THE CAPITAL MOVEMENT CONNECTIONS WITH USA ARE STRONG.
REQUIRE RATIONING IN EU , THE PRICE OF GAMBLING FOR USA BUBBLE IS SOME 1.8 TRILLION PER MONTH NOW. SO FAR YOU MAY HAVE LOST 1- 2 ADDITIONAL TRILLIONS TO SOME TRILLION EXPECTED LOSS FOR EU BANKS INITIALLY.
DRAGHI GIVES YOUR DEPOSITS TO YELLEN. SHE PROVIDES SUPPORT FOR EUR AS YOU BUY DOLLARS , EU CURRENCY RESERVES SHOULD BE DEPLETED. IF THERE IS NO BUBBLE IN USA , AND THERE WILL NOT BE AS PEOPLE DO NOT BUY SHARE WHEN AFRAID FOR DEPOSITS IN EU , AND SEARCHING CIVIL WAR IN GOOGLE . SO YELLEN WILL SHORT EU AND HIT THE EU ECONOMY WITHOUT DEPOSITS , NEXT 12 DAYS.
2.8 TRILLION MAY HAVE LEFT EU BANKS TO USA BY MONDAY OUT OF SOME 3.5 LIQUIDITY – CHECK DATA
SIX WEEKS DEPOSITS OUTFLOW TO USA FROM EU BY 40 BN PER DAY IN 2016 IS 1.5 TRILLIONS
22 DAY TO MONDAY IN JANUARY 2017 BY 60 BN , INCLUDING AS DRAGHI SIGNALED HE IMPRISONS FOR MENTAL ILLNESS THE PERSON WHO COMMENTED DEPOSIT LEAVING EU BANK , IS 1.3 BN
EVIDENCE
- EUR DECLINE , CURENCY RESERVES DEPLETED FOR THESE WEEKS
- SEE H0W 0NE  1TAL1NA BANK DEP0S1TS DECL1NED EARLY S0ME 15 BN 0UT 0F 90 
- SEE H0W TARGET 2 0VERDRAFT F0R PR0V1D1NG URGENTLY L1QU1D1TY 1NCREASES T0 S0ME 1 TR1LL10N MA1NLY FR0M GERMANY T0 1TALY , SPA1N , GREECE , P0RTUGAL 
DRAGH1 AND YELLEN W1LL N0T ARREST ME 1N VE1N, DRAGH1 W1LL TRY S0M 0THER 1LLEGAL PR1NT1NG EXCEPT TARGET 2 AND GET R1D 0F ALL 0PP0NENTS  H1S 1DEA 1S T0 GAMBLE 1N USA W1TH Y0UR M0NEY F0R SHARE  BUBBLE . THAT L00KS T0 BE 1MP0SS1BLE AS S0VERE1GN AND C0RP0RATE B0NDS STARTED T0 SUNK FR0M VERY L0W LEVEL W1TH H1GH SPEED. THAT PUTS USA 0UT 0F BALANCE. 
CHECK THE L1QU1D ASSETS 0F EU BANKS , 1 TH1NK THEY ARE S0ME 3.5 TR1LL10N BUT VER1FY AS 1 MAY N0T REMEMBER C0RRECTLY.  THEN SOME 0.7 TRILLIONS ARE IN EU BANKS FROM MONDAY 23 – THAT IS FOR 12 DAYS IF BANKS SHARE.
YELLENA DOES NOT NEED SUCH LIQUIDITY AND THEIR COMMERCIAL BANKS , AS IN QE AGENTS KEEP UP TO A TRILLION IN JARS AND SAFES. BASICALLY THEY ARE THE CENTRAL BANK WITH THESE MONEY RESERVES.
DRAGHI MUST BE CONTROLLED BY BIG USA INSTITUTIONS TO TAKE COMPLETE RECKLESS RISK WITH EU CITIZENS , SEE HOW JUNCKER ADD 150 BN FROM LUXEMBOURG TO TARGET 2 LOANS TO ITALY , SPAIN , GREECE , PORTUGAL FOR HIS PERSONAL SURVIVAL . TARGET 2 IS 1 TRILLION ILLEGAL MONEY PRINTING WITH SOME 750 BN FROM GERMANY – ALL THEIR EXPORT WEALTH AT HIGH RISK. RICH RISK TO HAVE MONEY FOR SURVIVING 10 OR 15 YEAR CRISIS WE ARE IN AND CHEAT AL DATA TO KEEP YOU CALM FEW MORE WEEKS , BUT NOT POSSIBLE.
START TO INVESTIGATE AND WRITE AS ME TO DEFEND YOUR ECONOMIES , NOW W W W

guest-ajomaeii

2 I M P O R T A N T
GE0RGI CHINK0V
JUNCKER AND MERKEL ABUSE TO EUROPE AND THEIR COUNTRIES

1 JUNCKER AND MERKEL HAVE SUBSTANTIAL CREDITS TO ITALIAN , SPAIN , GREECE PORTUGAL BANKS TO COVER LIQUIDITY CRISIS . THE LOSSES WILL BE HUGE FOR THEM WITH EXPECTED DEFAULT.
YELLEN IS PROVIDING USD PROBABLY TO EU AND UK AS THEIR CURRENCY RESERVES SHOULD BE DEPLETED. SHE WILL LOSE MONEY IF DEPOSIT OUT FLOW DOES NOT STOP. SHE TRIES TO PROP THE SOME 25 TRILLION SHARES RICK HOLD IN USA. THERE IS COLLISION WITH DRAGHI AND JUNCKER TO LET DEPOSITS GO IN USA , THEIR FRIENDS ALSO DRAW FULL DEPOSITS AS WITH LOSSES YOU WILL RECEIVE SOME 20 , 30 % LESS DEPOSITS IF THERE IS NO BAIL IN. ANY ADDITIONAL 20 DAYS LOST FOR RATIONING MAY COST YOU SOME 10 % FURTHER REDUCTION OF DEPOSITS. IF DRAGHI AND JUNCKER ARE SEND TO PRISON AND TRUST IN EU BANKING SYSTEM REGAINED , YOU WILL REDUCE THE LOSS OF YOUR DEPOSITS , WHEN SOME PART OF TRANSFERED DEPOSITS COME BACK. THE SAME LOOKS TO BE TRUE FOR UK. FOR THIS REASON NOE DRAGHI JUNCKER AND YELLEN TRY TO IMPRISON ME FOR MENTALY ILL. THEY SHOULD KNOW THAT WITH YOUR SUPPORT I AM STRONG. MANDELA . USA ENVISAGES THE INEVITABLE DEPOSIT RATIONING IN EU THESE DAYS , SO THE SOME 60 BN IN FLOW TO US STOCK EXCHANGE WILL END . THAT SEND SENTIMENT OFF CNN FEAR TO NEUTRAL. WHO DRAWS DEPOSITS , SEARCHES IN GOOGLE CIVIL WAR AND BUYS SHARES FOR BUBBLE ? THE CAPITAL CONNECTION EU , USA IS STRONG.

TARGET 2 ABUSE AT RECORD HIGH
SEE HOW BUNDESBANK GIVES CREDITS FOR 754 BILLIONS AT DECEMBER 2016 AND LUXEMBOURG SOME 150 BN TO ITALIAN AND SPAIN BANKS , GREECE. THERE IS DISPROPORTIONATE BANK RUN IN EU. CAN JUNCKER AND MERKET AFFORD THE LOSS AS THE BANKS OF ITALY AND SPAIN CANNOT PAY BACK THIS DEBT AFTER DEPOSITS ARE SEND ABROAD MAINLY USA. REFINANCING OF THESE MONEY IS SOME 60 OR 120 % OF THEIR VOLUME IF THERE ARE ONE OR TWO LION JUMPS IN CREDIT RATINGS. MAY BE HALF OG THESE MONEY ARE EXPECTED BACK. HOW JUNCKER RISKS LUXENBOURG CITIZENS FOR COVERING HIS MISTAKES IN THE EUROPEAN COMMISSION ? THESES ARE NOT HIS MONEY , WHO IS CONTROLLING HIM AS THE MONEY WERE USED BY USA BANKS FOR ONE MORE ATTEMPT FOR BUBBLE WITH BUYBACK FROM EU DEPOSITS FOR SOME 1 , 2 TRILLIONS TRANSFERED BY AFRAID EU CITIZENS THESE WEEKS. CAN EU BANKS AFORD SOME 60 BN DEPOSITS OUT PER DAY ? THEY HAVE SOME 3.5 TRILLION LIQUID ASSETS IN NOVEMBER AS HALF OF THEM MAY BE OUT IN SEAFES AND MAINLY ABROAD FROM NOVEMBER TO NOW. THE EU BANKING SYSTEM IS DAYS AWAY OF ADDING STRONG LIQUIDITY CRISIS TO SOLVENCY. EU DEPOSIT RATIONING IS INEVITABLE SO THE USA MARKET WILL DECLINE IF EUROPE WANTS TO RETAIN SOME EXPENSIVE FOR REFINANCING DEPOSITS.

STOCK MARKET PROPPING OVER

WITHOUT CORPORATE BONDS , THERE IS NO FINANCING FOR BUYBACK AND SHARES STARTED TO DECLINE. FED PLAYS WITH CURRENCY RESERVES AS EXCHANGE RATE COMPENSATE SHARE LATELY , INFLOW OF EU DEPOSITS AND BUYBACK FUNDS , AS WELL AS OPEN MARKET OPERATIONS TO PROP RECENT STOCK BUBBLE. BUYBACK STOPS AGAIN , OPEN MARKET OPERATIONS WILL DECLINE . CNN SENTIMENT FROM EXCEED GREED IS CLOSE TO NEUTRAL . SO FLOW ANALYSIS SAYS DECLINE .

USA NOT LIKELY TO TAKE DOUBLE RISK TO LEND TO EU BANKS A TRILLION PER MONTH MONEY IN EUR TO STOP BANK RUN IN EUR , THAT MAY HALF FOR SUCH A RISK AND RISK WITH USA BUBBLE WITH ANOTHER TRILLION FOR 20 – 30 PERCENT . THAT WILL DELETE THE REST OF USA BANKING SYSTEM AS FROM PETROLEUM THERE IS SOME 250 BN LOSS FROM FRANKING UNPROFITABLY THAT IS SUBSIDIZED , THE BONDS AND SHARE 0.6 TRILLION LOSS HOLD IS TO BE WRITTEN OFF, OVER INVESTMENT AND OVERCONSUMPTION BY US QE BAD LOANS WILL FOLLOW NEXT TO PETROLEUM PRICE WAR.
PRISONER DILEMMA WITH WALL AMONG THEM OF BAD REAL DATA. NO COOPERATIVE AS BOTH UNIONS ARE IN BAD STATE . THEN USA SHORTS EU. SUPPORT OF EUR BY USD AS BUYING FOR CURRENCY RESERVE IS UNLIKELY TO BE SUCCESSFUL AND VERY RISKY AS ECB DOES NOT AVAIL WITH MUCH EXCESS RESERVES DUE TO NEGATIVE RATES . TARGET 2 RESERVES ARE ALSO DEPLETED
IF LAST MONTH OF BANK RUN IS INCLUDED. BOTH UNIONS FINANCIAL INDICATORS DECLINE FAST PROPPED BY MONEY INFLOWS AND NO TRUST BY AGENTS.
FED EXTENDS OPEN MARKET OPERATIONS TO 468 BN DESPERATE AT END YEAR - NORMAL LEVEL IS SOME 60 BN . BUYBACK STOOPED LAST WEEK AS CORPORATE BONDS YIELDS STATED TO JUMP. ANY WAY TRUMP RALLY WAS NOT PROFITABLE AS SHARES ADDED LESS THEN TRILLION , CORPORATE BONDS DECREASED BY TRILLION , AND SOVEREIGN BONDS BY 0.6 TRILLION. DOLLAR CHANGE MOSTLY VS EUR AND POUND. THEN THERE WAS CORRECTION IN OPPOSITE DIRECTION FROM MID DECEMBER BY 0.4 TRILLIONS FOR STOCKS AND BONDS AS FED INCREASE OPEN MARKET OPERATIONS TO PREVENT DECLINE TO EXTREMELY HIGH LEVELS THEY WILL NOT HOLD. STOCK BUBBLE IN USA TURN OUT NOT SUCCESSFUL AGAIN ,
BLUFF FOR GROWTH , ALL DATA , COMPANIES ALSO WILL POSSBLY SHOW STRONG SURPRIZING RESULTS . SEE OTHER STANDARD THAT CONSIDERS ONE OFF COSTS THAT ARE SIMILAR FOR SOME PERIODS. IT IS NOT IM POSSIBLE FED FROM IR RATE INCREASE TO JUMP TO PRINTING MONEY TO SUPPORT BUBBLE SOON.

guest-ajomaeii

G E O R G 1 C H 1 N K 0 V
ON EU , USA GROWTH AND INFLATION BLUFF
A DISTINCTED DATA SCIENTIST AS ME WORTHS 100 K YEARLY, A STUPID ECONOMIST WORTH 20 K YEARLY , THEN THE ECONOMIST TAKES GAMBLE OF 1 TRILLION LOSS OR A TRILLION PROFIT , THE DATA SCIENTIST DO NOT. FED AND ECB RISK AND CHEAT GDP OR INFLATION DATA
SEE ECONOMIC GROWTH PER CAPITA FROM FRED TABLES SEASONALY ADJUSTED . VS PREVIOUS QUARTER IT WILL SHOW SOME ONE % YEARLY GROWTH. 2 % YEARLY ARE NEVER ENOUGH BUBBLE FROM SOME 50 YEARS
DRAGHI JUNCKER EXPLAIN EVERY EU AND USA CITIZEN WHY A PERSON REVEALING THEY INTEND TO STEAL EU DEPOSITS , EU FUNDS AND YELLEN TO CREATE IRRATIONAL EXUBERANCE FOR SELLING TO PUBLIC AND ABROAD OVER EVALUATED SHARES OUT OF SOME 25 TRILLIONS IS IMPRISONED IN RIDICULOUS MANNER WITHOUT PRESENTING ME ALL DOCUMENTS AND CLOSING THE COURT AGAINST THE LAW. AS THE COURT IS CORRUPTED I SURROUND IT BY MOVING IN ANOTHER TOWN IN B G

EP , EC , ECB , FED COMPLETELY RISK THEIR REPUTATION BY HIDING THEY KNOW GEORGI CHINKOV AND IMPRISONING HIM FOR ACCUSING HIM MENTALLY ILL WHO INTENDS TO KILL HIMSELF RIDICULOUSLY TO FIT THE LAW , MANIPULATING USA EU ECONOMIC DATA FOR KEEPING BUBBLE TO SELL YOU OVER ESTIMATED SHARES AND HEALTH DATA OF HIS PARENTS. THE 2012 LETTER TO EC , EP ANSWERED BY EC THAT THERE ARE ONLY MORAL CONSEQUENCES FOR HIM. SO ASK FOR THE LETTERS JUNCKER , DRAGHI , YELLEN , SCHULZ AND WHY THEY HIDE THEM FOR 4 – 5 YEARS TO NOW. HOW THEY REJECT TO KNOW GEORGI CHINKOV AS THIS LETTER WITH THE NEW BUBBLE PROPPED AGAIN BY SHARES BUYBACK MOVED MARKETS SOME 30 TIMES BY SOME 2 PERCENT OR MORE , THE BIGGEST TURNAROUNDS IN EU , USA THIRD BIGGEST DECLINE. ALL MARKETS KNOW HIM. ASK JUNCKER , DRAGHI , YELLEN , SCHULZ IF THEY ARE READY TO RESIGN TO SOLVE THE PROBLEM WITH CREATING BUBBLES ON PURPOSE TO STEAL YOUR MONEY FOR THE CRISIS IN EU , USA FOR OVER 10 YEAR WE ARE IN . EU , USA TURNED INTO LEMONS AS HIGH RESULTS SIGNAL TO YOU BAD FUNDAMENTALS . DOES EU INTEND TO STEAL EU FUNDS , AND EU DEPOSITS. CAN ECB AFFORD MORE DEPOSITS LEAVING EU AS REFINANCING IS EXPENSIVE AND BANKS ARE WITH COMPLETELY NEGATIVE EXPECTATION OF PROFITS FOR NEXT 10 YEARS. WHY THEY BUY SHARE FROM EU AND TO SOME DEGREE USA CITIZENS TO KEEP BUBBLE IN EU AND USA ? WHAT TO DO WITH EUR AND POUND CURRENCY CRISIS THAT MAKES COMPANIES SEE THEIR DEBT IN USD SOME 30 , 40 % HIGHER AND FOLLOWING BANKRUPTCIES OFTEN IN FRONT OF USA BANKS. THAT CURRENCY CRISIS MAKES CITIZENS SEARCH CIVIL WAR IN GOOGLE , ALSO INCIDENTS ARE CORRELATED TO HIGH SEARCHES.

THIS IS A LETTER FROM GEORGI CHINKOV TO EUROPEAN COMMISSION AND EUROPEAN PARLIAMENT REQUIRING EXPLANATION WHY THE EC AND EP ABUSE CONVERGING TECHNOLOGIES FOR CONTROLLING CENTRAL BANKS GOVERNMENTS IN CENTRAL AND EASTERN EUROPE , BANKS , TELECOMS. NOT OCCASIONALLY THESE COMPANIES AND CENTRAL BANKS , GOVERNMENTS FOLLOW EC EXPANSION. NOW TELECOMS ARE IN FRONT OF BANKRUPTCY , MANY BANKS ARE SPECULATIVE. THIS LEADS TO BANK RUN IN EU AS EU BANKS CANNOT AFFORD CEE LOSSES OF THEIR BANKS.

THE LETTER B – 12 / 015059 ( SEE IF 5 IS NOT 3 IN THEIR RECORDS AS NOT CLEARLY WRITTEN ) IS DATED 16 . 07 . 2012 , AS JUNCKER , DRAGHI , YELLEN , SCHULZ NOW DECIDE TO PRESS CHARGES TO GEORGI CHINKOV FOR MENTALLY ILL AND IMPRISON HIM FOR BEING DANGEROUS FOR HIMSELF AS THE SUBPOENA SAYS FROM THE SOFIA COURT. ASK AGAIN PUBLICLY WHY JUNCKER , DRAGHI , YELLEN , SCHULZ WANT TO GET RID OF GEORGI CHINKOV, AS THE EUR IS DECLINING SHARPLY TO RECORD LOW LEVEL , THERE IS A BANK RUN IN EU WITH LIQUIDITY FOR DAYS AND CURRENT RESERVES FOR DAYS. SEE T2 AS LIQUIDITY PROVIDING MECHANISM . ASK JUNCKER , DRAGHI , YELLEN , SCHULZ IF THE LAST TIME THEY DO NOT CHEAT ECONOMIC DATA FOR DEPOSITS , CURRENCY RESERVES , WHY EUR DECLINES ESPECIALLY CLOSE TO WEEKENDS , OPENING OF US BANKS AND CLOSING OF EU WORK. ARE THE INVENTED DIAGNOSIS FOR CAN CER OF FATHER , MOTHER REAT AS FATHER WAS REJECTED AFTER HIS OBJECTIONS. HIS MOTHER IS ON CHEMO THERAPY NOW.

IS THIS THE REAL REASON JUNKER WANTS GEORGI CHINKOV TO BE IMPRISONED FEBRUARY 2017 ACCORDING TO SOFIA COURT SUBPOENA SENT TO HIM SAYING THEY SUPPOSE HE WANTS TO COMMIT A SUICIDE AS HIS GRANDFATHER SOME 10 YEARS AGO OR MORE SUPPOSEDLY COMMUTED A SUICIDE. FOR JUNCKER , DRAGHI , YELLEN , SCHULZ INVENTED FACTS ARE NOT SOMETHING UNCOMMON.

USA WILL TRY TO SUPPORT IN EQUILIBRIUM
THE ATTEMPT TO JUMP FROM DECLINE SEEMS EXTREMELY UNSUCCESSFUL.
USA CAPITAL WILL TRY TO SELL YOU THE BUBBLE SHARE AS RICH HOLD NOW SOME 25 TRILLIONS , NEARLY ALL WITH SOME 10 TRILLION BUY BACK. WITH THIS DEBT TO RETURN TO STABLE GROWTH THEY NEED TO REDUCE THEIR DEBT TO SOME 90 % AS FIRST PAPER ESTIMATES , SO THIS IS HALF OF FED HOLD BONDS TO BE BURNED. STILL AS CURRENCY RESERVES THE TRUST IN USD WILL DECLINE WITH HUGE CURRENCY RESERVES HOLD . SO THE SOVEREIGN AND CORPORATE BONDS ARE NEARLY TO UNSUSTAINABLE LEVELS AND FURTHER DEBT WILL MAKE STEEP DECLINE OF BOND PRICE AS CREDIT RATING AGENCIES SHOW IN TABLES.

DonQuix

Public debt is a classic method by the state-bank alliance of using public power to prop up financial asset values artificially. When the system is stable, the elites benefit from issuing the assets. When the bubble is so inflated that market forces finally awake to bust it, the economy at large pays the price in lost savings, jobs, and business, especially because of the distortions that set in during the asset inflation.

What we have today is that the total value of claims to wealth (including government bonds) vastly exceeding the total value of current and future goods and services, at today's prices. Logic dictates that either prices go up, or the debtors default, for those investors not liquidating fast enough.

The mismatch between claims to wealth and real wealth is currently being held stable by various imperial machinations, such as using the instability capital flows to drive central banks outside the US to help support the dollar, and using war and conflict to make sure regimes in vulnerable countries (especially Muslim ones) play by imperial rules.

The imperial system is, thus, ultimately a hierarchical feudal ladder based on theft and deception, where wealth and power flow up, and misery and instability flow down. And where no one will have true happiness.

guest-ajoasnww

You make a few interesting points and for the most part I agree, however I feel that a wait and see stance is appropriate because we are living in a rapidly evolving world at the moment where anything can happen.
The aging population phenomena is definitely an issue in any equation which will I feel affect performance in ways we can only imagine.
Strategic planning is now crucial.