If Interest Rates Rise, Wealth Will Fall
Posted January 3, 2015
There is a broad consensus among financial market participants that interest rates will rise in 2015. If they do, the stock market and the economy
Posted January 3, 2015
There is a broad consensus among financial market participants that interest rates will rise in 2015. If they do, the stock market and the economy
Posted December 27, 2014
Over the past 250 years, the growth of Capital has completely transformed the world. The next time you fly, look out the window. Most of
Posted December 6, 2014
It’s impossible to understand Capitalism without understanding Capital. In the new Macro Watch video, uploaded today, we look at Capital and the Capital Structure of
Posted November 24, 2014
In the latest Macro Watch video (uploaded today) we look at Japan and the very serious challenges it faces. These include a demographic crisis, a
Posted November 10, 2014
The accumulation of Foreign Exchange Reserves has a profound impact on global asset prices – just as Quantitative Easing does. That makes Foreign Exchange Reserves
Posted October 28, 2014
The latest Macro Watch video (uploaded today) analyzes the strategies and compares the balance sheets of the world’s five largest central banks: The People’s Bank
Posted October 12, 2014
The Fed is about to end its third round of Quantitative Easing, but the Bank of Japan is printing Yen faster than ever before and
Posted October 2, 2014
Prepare for a stock market sell-off. A new Macro Watch video has been uploaded. In it, I discuss the outlook for stocks, bonds/interest rates, property,
Posted September 26, 2014
In November 2002, Fed Governor Ben Bernanke introduced the concept of Quantitative Easing to the world. In a speech entitled “Deflation: Making Sure It Doesn’t
Posted August 6, 2014
A new Macro Watch video has been uploaded and is now ready to watch. In this video, we look at the Household Sector’s Balance Sheet
Posted July 27, 2014
Capitalism died during the two World Wars. In this speech, I discuss the transformation of our economic system from Capitalism to Creditism during the Twentieth
Posted July 21, 2014
The third video for Macro Watch Third Quarter 2014 has been uploaded and is now ready to watch. In this video, we dissect the Fed’s
Posted July 7, 2014
The Fed has pulled a new rabbit out of its hat: Reverse Repos. By using reverse repos, the Fed has found a way to deal
Posted July 2, 2014
I’ve begun to roll out Macro Watch: Third Quarter 2014. The first video, Credit: How Much Does It Take?, has been uploaded and is ready
Posted April 25, 2014
For anyone who is interested in understanding my views on the global economic crisis, this is the video I would recommend watching, if I could
Posted April 12, 2014
To watch a 6-minute overview of Macro Watch: Second Quarter 2014, click on the link at the bottom of this blog. But first, an announcement:
Posted March 29, 2014
Macro Watch: Second Quarter 2014 has been uploaded and is now ready to watch. This quarter, there are seven videos, beginning with one warning investors
Posted March 21, 2014
Central bank forward guidance and communication are all fine and good, but it is liquidity that moves the markets. When liquidity is plentiful asset prices
Posted March 3, 2014
This morning I spoke with Martin Soong on CNBC Asia Squawk Box. We discussed the fundamental weakness of the US economy, the approaching shift in
Posted January 24, 2014
I was in Mumbai to speak at the CFA Institute’s India Investment Conference last week. While there, I was interviewed by CNBC India. I explained