Category Archive: 5) Global Macro

Jeff Snider: Inflation Vs Deflation.

As the reflation trades cools down and the economic data begins to roll over, Jeff Snider, head of global research at Alhambra Investments, anticipates an ugly, near-term outcome for growth.

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The Fed’s Moral Hazard Monster Is About to Lay Waste to “Wealth”

If the Fed set out to destroy the financial system, they're very close to finishing the job. If you set out to destroy markets and the financial system, your most important weapon is moral hazard, the disconnection of risk and consequence. You disconnect risk from consequence by rewarding those making the riskiest bets and bailing out gamblers whose bets went bad.

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Is it time to go back to the office? | The Economist

Has the working-from-home revolution been good for productivity? Or is it time for office workers to go back to the office? 00:00 - How have our panellists’ working lives changed? 01:54 - Do employees and employers have different opinions? 03:40 - The impact of race on remote working 04:14 - Do you need to be in the office to be productive? 05:05 - Should teams choose their days in the office? 05:48 - The presenteeism bonus Like our video...

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Top 1% Gains More Wealth Than the Combined GDPs of Japan, Germany, UK, France, India and Italy, Bottom 50%–You Get Nothing

Given that political power in America is a pay-to-play auction in which the highest bidder wins, how this incomprehensibly lopsided ownership of wealth plays out is an open question.

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Why QE Is NOT Money Printing | Jeff Snider & Emil Kalinowski

In this episode of On The Margin Mike is joined by Jeff Snider of Alhambra Investments & Emil Kalinowski, Mining & Metals Researcher. Jeff & Emil are hosts of Eurodollar University, a podcast dedicated to analyzing the 2007 malfunction of the monetary system - and how its continuing disorder - affects finance, politics and society.

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How economic policy can help the world recover | The Economist

Economic recovery from covid-19 is deeply uneven around the world. Our experts answer your questions about the problems facing the world economy and the actions governments could take. 00:00 - The problems with the global economy 00:34 - Will there be hyperinflation? 02:26 - What’s behind labour shortages? 04:12 - Disrupted supply and demand 05:20 - Economic policies to tackle climate change 06:00 - Uneven global recovery from the pandemic 07:05 -...

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Is jeff Snider Wrong about Inflation?



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Paging Isaac Newton: Time to Buy the Top of This Bubble

Despite Newton's tremendous intelligence and experience, he fell victim to the bubble along with the vast herd of credulous greedy punters. One of the most famous examples of smart people being sucked into a bubble and losing a packet as a result is Isaac Newton's forays in and out of the 1720 South Seas Bubble that is estimated to have sucked in between 80% and 90% of the entire pool of investors in England.

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Look Out Below: Why a Rug-Pull Flash Crash Makes Perfect Sense

It makes perfect financial sense to crash the market and no sense to reward the retail options marks by pushing it higher. An extraordinary opportunity to scoop up mega-millions in profits has arisen, and grabbing all this free money makes perfect financial sense. Now the question is: will those who have the means to grab the dough have the guts to do so?

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The Contrarian Trade of the Decade: The Dollar Refuses to Die

Which is more valuable: Wall Street's debt/asset bubbles or the global empire? You can't have both, so choose wisely. The consensus makes sense: the U.S. dollar is doomed because the Federal Reserve and the Treasury will conjure trillions of new dollars out of thin air to prop up the status quo entitlements, monopolies, cartels and debt/asset bubbles, and since little of this issuance actually increases productivity, all it will accomplish is the...

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How to cool a warming world | The Economist

The warmer it gets, the more people use air conditioning—but the more people use air conditioning, the warmer it gets. Is there any way out of this trap? 00:00: What’s the cooling conundrum? 01:05: The pros and cons of AC 03:28: How to reinvent air conditioning 05:02: Can buildings be redesigned to keep cool? 07:30: Scalable, affordable cooling solutions 10:24: Policy interventions for cooling Like our video content? Take our survey to tell us...

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Russia: how Putin is silencing his opponents | The Economist

In Russia, repression is on the rise as Vladimir Putin seeks to crush any form of dissent. From eliminating the opposition—including his main rival, Alexei Navalny—to controlling the courts and purging Russia of free speech, Putin is deploying a wider range of tactics than ever to tighten his grip on power. 00:00 - What is happening in Russia? 01:00 - Why is Putin afraid of Alexei Navanly? 02:33 - The role Russia’s economy plays in Putin’s power...

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Eight Reasons Scarcities Will Increase Rather Than Evaporate

Who knew it would be so easy? All we have to do is collect urine and we'll be flying our electric air taxi tomorrow! While the private-jet crowd is busy selling a future of 1 billion electric vehicles, 1 billion windmills, 1 billion solar arrays, hundreds of thousands of electric aircraft, thousands of new nuclear power plants and trillions more in "wealth" accumulating in their bloated ledgers, reality is intruding on their technocratic...

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One Solution to Soaring Food Prices: Start Your 2022 Garden Now

There is a great deal of joy and satisfaction in gardening; benefits include saving money, eating healthier, sharing the bounty with others and reducing the derealization / derangement of modern life.

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Whistleblowers Torpedo Facebook and Pfizer: Who’s Next?

If America's total dependence on corporate profits and stock market/housing bubbles is just fine because the bubbles just keep inflating, there's nothing left but rot.

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Reading Jeff Snider: Nobody’s Looking, Economic Activity Revised Down [Ep. 147, Macropiece Theater]

The September 2021 reading for America's new orders of durable goods shows stagnation / stalling. It is likely much worse but we won't know it for several years, not until the benchmark revisions are performed. We've seen this before, in 2018.

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The Wile E. Powell Inflation: Are We Really Just Going To Ignore The Cliff?

Last year did not end on a sound note. The initial rebound after 2020’s recession was supposed to be a straight line, lifting upward for the other side of the infamous “V” shape. Such hopes had been dashed, though, and as the disappointing year wound toward its own end yet another big problem loomed.

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Brian Cox: Why Succession struck a chord | The Economist

Brian Cox of HBO’s “Succession” reveals what it’s like to play the tyrannical media mogul and patriarch Logan Roy, and why the show struck such a chord in Trump's America. 00:00 - The success of “Succession” 00:50 - Brian Cox’s career and playing Logan Roy 01:33 - How he finds humanity in Logan Roy 03:42 - Real-life comparisons to the Roys 04:36 - “Succession” in Trump’s America 05:44 - The politics of “Succession” 07:09 - Social mobility and...

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What Does Taper Look Like From The Inside? Not At All What You’d Think

Why always round numbers? Monetary policy targets in the post-Volcker era are changed on even terms. Alan Greenspan had his quarter-point fed funds moves. Ben Bernanke faced with crisis would auction $25 billion via TAF. QE’s are done in even numbers, either total purchases or their monthly pace.

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Revenge of the Real World

The status quo response would be amusing if the consequences weren't so dire. Rather than stare at empty shelves, you have two options for distraction: you can don a virtual-reality headset and cavort with dolphins in the metaverse, or you can trade various forms of phantom wealth that always go up (happy happy!) because the Fed.

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