How devaluation starts:
April 18 will be the 25th anniversary of the current Swiss constitution’s adoption. With that ratification, the #franc became fully fiat.
Yesterday, 58.2% of Swiss voted to add a 13th monthly federal pension payment, while a second initiative to raise the retirement age and begin tying it to life expectancy failed, garnering only 25.3% of votes.
Unless the #Swiss either raise taxes or cut other spending, the supply of franc will have to rise. Budgets must always balance: if not in nominal terms, then in real terms.
steve / Steve Carr, CFA
npub10m…9alta
2024-03-04 07:49:09
Author Public Key
npub10mvl2g6tu76q6k4hsmam6hrsvhu99guk4c0q9tlzu5789stvz7usy9altaPublished at
2024-03-04 07:49:09Event JSON
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"content": "How devaluation starts:\n\nApril 18 will be the 25th anniversary of the current Swiss constitution’s adoption. With that ratification, the #franc became fully fiat.\n\nYesterday, 58.2% of Swiss voted to add a 13th monthly federal pension payment, while a second initiative to raise the retirement age and begin tying it to life expectancy failed, garnering only 25.3% of votes.\n\nUnless the #Swiss either raise taxes or cut other spending, the supply of franc will have to rise. Budgets must always balance: if not in nominal terms, then in real terms.",
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