Global Liquidity Is Tightening: Expect Troubl…
Global Liquidity is tightening. The new Macro Watch video demonstrates this by examining the balance sheets of the Federal Reserve, The European Central Bank, The People’s Bank Of China, The
Liquidity’s Tightening. Watch Out!
One of the main themes of Macro Watch is that Liquidity Determines The Direction Of Asset Prices. This week Macro Watch shows that Liquidity is contracting again and explains why Tightening
Higher For Longer Interest Rates May Rattle M…
This week Macro Watch examines the most recent trends in Credit Growth. It focuses on two important developments revealed in The Financial Accounts Of The United States for the first
The Indispensable Dollar Standard Will Not Be…
We frequently hear that the US Dollar will soon lose its status as the world’s leading international reserve currency and that The Dollar Standard will soon come to an end.
Lending Slowdown Suggests Rate Hike Pause
Fed Chairman Powell has said that the recent turmoil in the banking sector is likely to cause bank lending to slow; and that slower bank lending, should it occur, would
Download My Speech To Members Of Congress
On February 27th, I delivered a speech titled “How to Finance the Next American Century” before 15 members of the House Ways and Means Committee in Washington. As in my book, The Money
BBC World Business Report Interview on the De…
Tonight, I discussed the US Debt Ceiling Crisis on the BBC’s World Business Report. I suggested that the Republicans in Congress are pursuing the wrong policy and the wrong approach
Debt Ceiling Austerity: A Recipe for Stagnati…
Republicans in Congress are once again insisting on a return to Austerity in exchange for lifting the country’s debt ceiling. Austerity can only lead to economic stagnation and national shame
The Uncertain Outlook For Asset Prices
Home prices in the US are falling and it is very probable that they will continue to fall. The future direction of stock prices, however, is much more difficult to
Unchartered Territory
Last year, Total Credit in the United States expanded by $5.1 trillion to $93.5 trillion. Total Credit first exceeded $1 trillion in 1964. Next year it will top $100 trillion. This explosion of