March 3, 2015
How The Fed Intends To Hike Interest Rates
The consensus view is that the Federal Reserve will begin increasing interest rates later this year. I believe the consensus view is wrong. The Fed
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February 17, 2015
QE Is Debt Cancellation
When a central bank prints money and buys a government bond, it is the same thing as cancelling that bond (so long as the central
February 4, 2015
Why ECB QE Will Drive European Stock Markets Higher
The European Central Bank has announced a massive Quantitative Easing program that is very likely to push European stock prices significantly higher. The new Macro
January 17, 2015
Recession Alert: Weak Credit Growth Points To US Recession Ahead
The key to understanding the economy and the financial markets in the 21st Century is this: Credit growth drives economic growth. From 1952 to 2008,
January 3, 2015
If Interest Rates Rise, Wealth Will Fall
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
December 27, 2014
How Capital Grows
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
December 6, 2014
CAPITAL: A Crash Course
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
November 24, 2014
Japan’s Crisis & The BOJ’s Solution
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
November 22, 2014
The McAlvany Interview: QE 4? “They’ll have to.”
The McAlvany Weekly Commentary is simply one of the very best sources of information and analysis on monetary, economic and geo-political news available to the
November 10, 2014
FX Reserve Accumulation Is Quantitative Easing
The accumulation of Foreign Exchange Reserves has a profound impact on global asset prices – just as Quantitative Easing does. That makes Foreign Exchange Reserves
October 28, 2014
Analyzing The Five Largest Central Banks
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
October 17, 2014
Bullard’s Call To Extend QE Halts Market Panic
Yesterday morning, St Louis Fed President James Bullard stopped the stock market crash in its tracks. In a live interview on Bloomberg Television, he said:
October 12, 2014
Slowing Global Liquidity Points To Deflation Ahead
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
October 2, 2014
The Prospects For Asset Prices
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,
September 26, 2014
Why The Fed Will Launch Another Round Of Quantitative Easing
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
September 9, 2014
How Strong Is The US Economic Recovery?
A new Macro Watch video has been uploaded and is now ready to watch. Judging from most press reports, it would be easy to form
August 6, 2014
The Household Sector Balance Sheet Is Pointing To Trouble
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
July 27, 2014
WATCH RICHARD DUNCAN’S SPEECH: How Capitalism Died & Where That Leaves Us
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
July 21, 2014
Dissecting The Fed’s Balance Sheet
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
July 7, 2014
The Fed’s New Magic Trick
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
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