Egypt is vulnerable to food prices. The country subsides petrol and also ingredients needed for bread. Russian actions effect the world unfortunately, ideally the black sea would be secured by an international task force to ensure Ukraine can export still. 1 million trucks would be required to replace normal shipping.
Big Short (2015) still relevant now so worth watching just to recognise better the next deleveraging event. The
Economist printed a whole article on the macro effect of these bonds failing, the timing was March 2008 in that film the Bear Stearns failure (JPM took them) and in UK it was at this time Halifax had a flash crash and it was labelled as a trick or fraud, shorting should be illegal etc. Halifax was basically gone, it wasnt wrong and despite reading the article I didnt realise how easily banks fall. Most dont consider bonds just equity values. It wont repeat now still its relevant to watch that film, classed as a comedy but based on real people and events.
Lehmans had an offer just like Bear Stearns to be taken over, from Bank of Korea in the summer and they refused. It was all really dull, imo its relevant to now that people know what is happening, its jenga
Markets rose after Bear crashed