🌍 UK mortgage resets flip the UK economy upside down
Chamath's numbers: 40% of all UK mortgage dollars are interest-only adjustable loans that reset in January to around 4%, so households have to spend three to four times more just to keep their homes. Layered on a Bank of England that is about to hike 140bp while simultaneously declaring itself an unlimited buyer of gilts to backstop the Truss fiscal package - raising rates and acting as a backstop for bad policy at the same time, with no real check and balance - the UK becomes the first place the global debt-service squeeze actually breaks. His timeline framing: the UK thing happens in about six days, the US version plays out over six or nine months the exact same way.
⚖ Why this verdict
fully deterministic — evaluate.py replays this from daily closes; nothing below is editable or hand-set
- Window: 2022-10-01 → 2023-10-01 — first mention + 12-month horizon, then the window locks.
- The call: ▼ SHORT EWU (primary play). EWU rose 21.9% over the window → direction-adjusted R = -21.9% (the call lost money).
- Benchmark: holding SPY over the same window returned +18.4%
→ α = -21.9 − (+18.4) = -40.3%
— what this call made or lost against just owning the index. This is the number the verdict uses.
Stock-selection read: -3.4% — did EWU move the predicted way relative to the market. The two only differ on a SHORT: this call was right about direction relative to the index but still cost money versus holding it.
- Rule fired:
· HIT — R ≥ +10% AND α ≥ +5· PARTIAL — R ≥ +5% OR α ≥ 0▶ MISS — everything else
- Credit: supporters of a MISS earn 0 each, opposers the inverse — this feeds the scoreboard weights. supported: Chamath
Conviction timeline
bands: green ≥ 65 · watch ≥ 45 · ember ≥ 15
Plays vs SPY · % since first mention (2022-10-01)
Plays
| expression | symbol | kind | relevance | rationale |
|---|---|---|---|---|
| ▼ SHORT | EWU | etf | PRIMARY | direct UK equity exposure to the household-payment shock |
| ▼ SHORT | FXB | etf | adjacent | sterling is where the Truss/BOE policy incoherence priced first |
Mention log
Who built this conviction
each voice's total force on the score — supports and opposes from every mention, weighted exactly as the replay applied them · share = % of all mention-driven movement
⏳ decay drained -42.2 over the idea's life — that's time passing, attributed to no one
Score events
| episode | kind | Δ | after | note |
|---|---|---|---|---|
| E98 2022-10-01 | init | +44.7 | 44.7 | E98 born by Chamath (explicit_prediction x3) [w=1.06] |
| E99 2022-10-07 | decay | -1.8 | 42.9 | E99 silent |
| E100 2022-10-14 | decay | -1.7 | 41.2 | E100 silent |
| E101 2022-10-22 | decay | -1.6 | 39.5 | E101 silent |
| E102 2022-10-29 | decay | -1.6 | 37.9 | E102 silent |
| E103 2022-11-05 | decay | -1.5 | 36.4 | E103 silent |
| E105 2022-11-19 | decay | -1.5 | 35.0 | E105 silent |
| E106 2022-12-03 | decay | -1.4 | 33.6 | E106 silent |
| E107 2022-12-10 | decay | -1.3 | 32.2 | E107 silent |
| E108 2022-12-16 | decay | -1.3 | 30.9 | E108 silent |
| E109 2022-12-24 | decay | -1.2 | 29.7 | E109 silent |
| E110 2023-01-06 | decay | -1.2 | 28.5 | E110 silent |
| E111 2023-01-13 | decay | -1.1 | 27.4 | E111 silent |
| E112 2023-01-20 | decay | -1.1 | 26.3 | E112 silent |
| E113 2023-01-27 | decay | -1.1 | 25.2 | E113 silent |
| E114 2023-02-04 | decay | -1.0 | 24.2 | E114 silent |
| E115 2023-02-11 | decay | -1.0 | 23.3 | E115 silent |
| E116 2023-02-17 | decay | -0.9 | 22.3 | E116 silent |
| E118 2023-03-03 | decay | -0.9 | 21.4 | E118 silent |
| E119 2023-03-11 | decay | -0.9 | 20.6 | E119 silent |
| E120 2023-03-17 | decay | -0.8 | 19.7 | E120 silent |
| E121 2023-03-24 | decay | -0.8 | 19.0 | E121 silent |
| E122 2023-03-31 | decay | -0.8 | 18.2 | E122 silent |
| E123 2023-04-07 | decay | -0.7 | 17.5 | E123 silent |
| E124 2023-04-14 | decay | -0.7 | 16.8 | E124 silent |
| E125 2023-04-21 | decay | -0.7 | 16.1 | E125 silent |
| E126 2023-04-28 | decay | -0.6 | 15.5 | E126 silent |
| E128 2023-05-12 | decay | -0.6 | 14.8 | E128 silent |
| E129 2023-05-19 | decay | -0.6 | 14.2 | E129 silent |
| E130 2023-05-26 | decay | -0.6 | 13.7 | E130 silent |
| E131 2023-06-02 | decay | -0.5 | 13.1 | E131 silent |
| E132 2023-06-10 | decay | -0.5 | 12.6 | E132 silent |
| E133 2023-06-16 | decay | -0.5 | 12.1 | E133 silent |
| E134 2023-06-24 | decay | -0.5 | 11.6 | E134 silent |
| E135 2023-07-01 | decay | -0.5 | 11.2 | E135 silent |
| E136 2023-07-09 | reinforce | +17.0 | 28.2 | E136 Chamath support x3 [w=1.06] |
| E137 2023-07-14 | decay | -1.1 | 27.0 | E137 silent |
| E139 2023-07-27 | decay | -1.1 | 26.0 | E139 silent |
| E140 2023-08-04 | decay | -1.0 | 24.9 | E140 silent |
| E141 2023-08-11 | decay | -1.0 | 23.9 | E141 silent |
| E142 2023-08-18 | decay | -1.0 | 23.0 | E142 silent |
| E143 2023-08-25 | decay | -0.9 | 22.0 | E143 silent |
| E144 2023-09-01 | decay | -0.9 | 21.2 | E144 silent |
| E146 2023-09-22 | decay | -0.8 | 20.3 | E146 silent |
| E147 2023-09-29 | decay | -0.8 | 19.5 | E147 silent |