July 10, 2015
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%
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July 2, 2015
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
June 9, 2015
Did You Know The Government Owns 60% Of All US Home Mortgages?
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
May 30, 2015
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
May 27, 2015
The Banks: How The Six Largest US Financial Holding Companies Make Money
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
May 8, 2015
Yellen’s Dilemma: Global Growth or US Growth
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
April 25, 2015
Liquidity Gauge Warning: After mid-year, Look Out!
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
April 16, 2015
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
April 15, 2015
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
April 7, 2015
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
April 6, 2015
Don’t Miss This One! The Chris Martenson Interview
This is one of the very best interviews I have ever participated in. Chris Martenson did a brilliant job, asking all the right questions. This
March 20, 2015
Negative Interest Rates: The Next Phase of the Global Economic Crisis
More than $2 trillion worth of bonds are now trading at negative interest rates. That means the owners of that wealth are reconciled to making
March 8, 2015
I Strongly Recommend You Listen To This Interview
The Financial Sense Newshour Interview Cris Sheridan was my host on The Financial Sense Newshour last week. We had a real go at solving the
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
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
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