164.2 Beijing's Sixth Plenum Confirms World Economy Stinks ———Ep 164.2 Summary———Beijing reconfirmed what was made clear in 2017, during the 19th National Party Congress: the economic boom was over and it is time to prepare for it. If anyone in the West would care to listen, the Central Committee is referring not only to China but the entire global economy. ———Ep [...]
It’s always a balance of probabilities tug-of-war. Markets (not stocks) are continuously trying to discern risk since everything is really converted to some kind of risk-adjusted basis. And if the perceived weight of those tilts downward thinking forward, then it may not matter much or at all what’s going on right now.What’s going on right now is, according to everyone, [...]
164.1 TIC-ked Off About Not Enough Money to Recover Global Economy———Ep 164.1 Summary———America's September 2021 Treasury International Capital data corroborates dis/deflationary indications observed across various sources, the vast majority of which imply there's not enough money, and/or it's inadequately distributed, for the global economy to achieve permanent recovery. ———Ep 164.1 Topics——— 00:00 TIC: Consistent, Coherent, Corroborated, Inflation Never Had A [...]
160.0 Interviewing Russell Napier: What the Asian Financial Crisis Wrought———Ep 160.0 Summary———Author, reformed lawyer, economic historian and your man from Belfast, Russell Napier, explains why the 1995-98 Asian Financial Crisis set the stage for the Age of Debt (1999-2020) and the coming Era of Financial Repression (2021-??).———RUSSELL NAPIER BIOGRAPHY———Russell is chairman of the Mid Wynd International Investment Trust a closed [...]
When Japan’s Ministry of Trade, Economy, and Industry (METI) reported earlier in November that Japanese Industrial Production (IP) had plunged again during the month of September 2021, it was so easy to just dismiss the decline as a product of delta COVID. According to these figures, industrial output fell an unsightly 5.4%...from August 2021, meaning month-over-month not year-over-year. Altogether, IP [...]
Where is the “tantrum?” If there is one, to this point it has been historically minor changes limited to the shorter end of the yield curve between the 2-year and 5-year USTs. This section of it is more influenced by what the market believes Jay Powell’s Fed will do especially now that it likely will be Jay Powell’s Fed for [...]
I do long for the day when no one cares even a tiny bit about something like this. Sadly, that day remains our very distant future because nothing has changed. This, rather than anything useful, is what everyone means when they use the word “stability” to describe these situations.For months, there had been rumors Jay Powell would be one-and-done like [...]
157.3 Will the Next Fed Chair be a Theoretical Grammarist?———Ep 157.3 Summary———The last time the Federal Reserve tapered its QE program the central bank spent HOURS and HOURS and HOURS and HOURS on determining which adjective to us. Adverbs. Dangling participles, onomatopoeia, clauses, subject and object. What was NOT discussed? Money. Credit. Collateral. ———Sponsor——— Macropiece Theater with Emil Kalinowski (a/k/a [...]
At first, it was taken as a sign of relief, of strength and the return of good fortune. So many massive ships each overloaded with containers stacked skyward above their beams were headed to the West Coast, the ports there couldn’t handle the traffic. The boats, and the massive cargoes they carried, themselves packed into a sort of wondrously fascinating [...]
157.2 The US Treasury Bond Market "Landmine" is Primed———Ep 157.2 Summary———The "landmine" has been part of each of the four global/regional dollar squeezes of the past 14 years (2007-09, 2011-12, 2014-16, 2018-20). The "landmine" is when US Treasury Bond yields decline precipitously and signal that economic potential has been seriously maimed. Where are we in 2021? ———Sponsor——— Macropiece Theater with [...]
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