Posted May 27, 2016
I recently had a great, wide-ranging conversation with Cris Sheridan of Financial Sense Newshour. We began with the economic crisis in China and moved on
Posted May 15, 2016
Chinese Investment increased 50-fold between 1990 and 2014. Investment (i.e. Gross Fixed Capital Formation or GFCF) in China grew from US$92 billion in 1990 to
Posted May 6, 2016
I highly recommend you listen to this free MacroVoices podcast. It explains the real origins of our global economic crisis. It also describes how the
Posted May 2, 2016
China’s economy resembles a spinning top that is running out of momentum. It is wobbling and gyrating erratically. A stock market crash, diminishing returns on
Posted April 25, 2016
This interview was conducted by Andrew Mazzone, President of the Henry George School of Social Science. Click on the link below to watch the video.
Posted April 18, 2016
Seven years of weak credit growth in the US have brought the world to the brink of a deflationary global recession. As a result, political
Posted April 8, 2016
The Central Banks have become the most powerful players in the global economy in recent years. Consequently, since its launch in 2013, Macro Watch has
Posted April 1, 2016
Do you want to understand what the European Central Bank is doing and why it is doing it? I have just uploaded two Macro Watch
Posted March 18, 2016
On March 10th, the European Central Bank (ECB) announced that it will expand its Quantitative Easing program by one-third, increasing it from €60 billion per
Posted March 11, 2016
Yesterday, the European Central Bank expanded its QE program by one-third and cut bank deposit rates deeper into negative territory. How did the markets react?
Posted February 26, 2016
Until recently, negative interest rates were considered inconceivable. Now, however, $7 trillion worth of bonds are trading at negative yields. That means the owners of
Posted February 13, 2016
Last week Citi made headlines by publishing a report claiming the global economy is trapped in a “Death Spiral”. The timing of the report was
Posted February 3, 2016
Liquidity in the United States turned negative in the fourth quarter of 2015. I believe this played an important role in the severe stock market
Posted January 24, 2016
In the new Macro Watch video uploaded today, I describe how my 30-year career in the investment industry has shaped my views on what drives
Posted January 3, 2016
Between 1952 and 2008, every time US credit growth (adjusted for inflation) fell below 2%, the United States went into recession. During that period, the
Posted December 19, 2015
On December 16th, the Fed hiked interest rates for the first time in nearly 10 years. The world did not come to an end, but
Posted December 6, 2015
In 2008 the American Financial System failed. In this video, uploaded today, we take a look back at the systemic meltdown of the US financial
Posted November 20, 2015
Asia is being hit hard by the slump in world trade that has resulted from the sharp economic slowdown in China. In the latest Macro
Posted November 7, 2015
An Interview published in Hankook Ilbo I have just returned from speaking at The Third China Forum in Seoul, an event hosted by the Korean
Posted October 30, 2015
The new Macro Watch video, uploaded today, addresses the following questions about China: Is China selling US government bonds? If so, what are the consequences?