Unsustainable Wealth
US Household Sector Net Worth has risen by a mind-boggling $30 trillion since the first quarter of 2009. At $85 trillion, it is now 55% higher than at the depth
Credit Growth Slows, Vulnerabilities Increase…
In the 21st Century, when there is no longer any difference between money and credit, Credit Growth drives Economic Growth. In the new Macro Watch video, we look at who
Did You Know The Government Owns 60% Of All U…
It’s true. The US mortgage market has effectively been nationalized. Here’s how it happened: The Government-Sponsored Enterprises, primarily Fannie Mae and Freddie Mac, issued $7 trillion worth of debt and
A Good Overview Of The Global Economic Crisis…
Please find here a link to a YouTube video showing a recent conversation I had with my friend Gordon T. Long of Macro Analytics. It provides a very good overview
The Banks: How The Six Largest US Financial …
This week Macro Watch takes a close look at the six largest US Financial Holding Companies: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley. In
Yellen’s Dilemma: Global Growth or US Growt…
The Fed faces a difficult choice. It must decide between boosting global economic growth or boosting US economic growth. If the Fed increases US interest rates, the Dollar will strengthen
Liquidity Gauge Warning: After mid-year, Loo…
Liquidity determines which way asset prices move. When there is excess liquidity, the price of stocks, bonds and property tends to rise. When liquidity is negative, the price of those
Watch Free Video: QE Is Debt Cancellation
Yesterday, I send a blog with a link to a new CNBC interview and a second link to a free video explaining the details of how central banks have effectively
New CNBC Interview: QE Is Debt Cancellation
This morning I was interviewed on CNBC Asia in Hong Kong. We discussed how central banks around the world are effectively cancelling trillions of dollars worth of government debt. Here’s
Has The Next Recession Begun?
Recent economic data has been startlingly bad. The Atlanta Fed’s GDPNow model suggests US GDP will grow by only 0.1% during the first quarter. The financial markets are positioned for
