Commodities

46.3 On the Economic Road to NothingGoodVilleRecent, low consumer price inflation readings combined with falling US Treasury Bill yields are cautionary sign posts that say this reflationary path may not be the road to recovery but a deflationary cul-de-sac. [Emil’s Summary] Having studied monetary policy for several years it was only natural that your podcaster spent considerable time contemplating the essential [...]

46.2 Nevada Solution to Covid Economy: CEO as RulerNevada's tourism economy has been wrecked by the Corona. Governor Sisolak, to encourage investment, is proposing to offer corporations to set up their own local government structures. [Emil’s Summary] Having studied monetary policy for several years it was only natural that your podcaster spent considerable time contemplating the essential elements of fiction. Some [...]

46.1 Interbank Netting: The Pressure to Get to ZeroPrivate banks fund global economic activity. But how do they move money among themselves? We consider the November 20, 1985 software glitch that shocked the interbank market. Then, a brief history of Fedwire, Telex, SWIFT and CHIPS. Finally, September 2019's repo market freeze. [Emil's Summary] Having studied monetary policy for several years [...]

45.1 Why Are US Treasury Bills in Such High Demand?There is a mainstream explanation for why US Treasury Bill rates are falling. There is also a Eurodollar / Shadow Money / Collateral System explanation. Jeff Snider reviews the two perspectives and looks ahead to where trouble may lay. ———WHO——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiArt: https://davidparkins.com/ Jeff Snider, Head of Global Investment Research for Alhambra Investments [...]

44.2 China Announces 'No Sharp Turns' for Bad EconomyChina's economy reported positive numbers, yet they are anything but positive. Despite being the only large economy to grow in 2020, and in spite of analysts forecasting further acceleration in 2021, the "No Sharp Turns" policy implies concern of internal fragility. [Emil’s Summary] Ad Astra is Latin for “to the stars”, which is [...]

44.1 Linking the Long and Great Depressions to TodaySocial upheaval, mass unemployment and economic desperation - this isn't the first time. We look at how the modern unemployment rate came about during the crises of The Long Depression. Also, real GDP-per-capita growth comparisons between The Long and Great Depressions to today. [Emil’s Summary] Ad Astra is Latin for "to the stars", [...]

43.2 Asset Bubbles & Money Financed Fiscal ExpansionHow does one define an asset bubble? Might there be fundamental, non-speculative reasons why prices are persistently high? Also, why did money-financed fiscal expansion fail in Japan? What does that experience tell us about the present? [Emil’s Summary] As many listeners have long suspected, your podcast host did, as a child, run away and [...]