Category Archive: 5) Global Macro

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A Sour End To The 2010’s Doesn’t Have To Spoil The Entire 2020’s

2020-01-01

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2020-01-01

China GDP, 2011-2019
It has been perhaps the most astonishing divergence in the first two decades of 21st century history. In late 2017, Western economic officials (mostly central bankers) were taking their victory laps. They took great pains to tell the world it was due to their profound wisdom, deep courage, and, most of all, determined patience, that they had been able to see their policies through to the light of day (no thanks to voters around the world).

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The People Are Waking Up, The Elite Are No Longer In Control:Charles Hugh Smith

2020-01-01

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Prepare Today And Save $70 On A 2-Week Emergency Food Kit My Patriot Supply http://preparewithx22.com Today’s Guest: Charles Hugh Smith Website: Of Two Minds http://oftwominds.com Most of artwork that are included with these videos have been created by X22 Report and they are used as a representation of the subject matter. The representative artwork included …

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The Hour Is Getting Late

2019-12-31

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2019-12-31

Total Assets, 2015-2019
After 11 years of "the Fed is the market" expansion, the Fed has now reduced its bloated balance sheet by 6.7%. This is normal, right? So here we are in Year 11 of the longest economic expansion/ stock market bubble in recent history, and by any measure, the hour is getting late, to quote Mr. Dylan: So let us not talk falsely nowthe hour is getting lateBob Dylan, "All Along the Watchtower"

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EM Preview for the Week Ahead

2019-12-29

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2019-12-29

EM FX was broadly firmer last week, taking advantage of the dollar’s soft tone as well as another wave of risk-on sentiment.  Bullishness on the global economy is quite strong, whilst we are perhaps a bit more skeptical given ongoing weakness in the UK, Japan, and the eurozone.  Dollar bearishness may also be overdone given our more constructive outlook on the US economy, but technical damage has been done that must now be repaired.

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Is Social Media the New Tobacco?

2019-12-28

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2019-12-28

Smartphone Addiction Tightens Its Global Grip
If we set out to design a highly addictive platform that optimized the most toxic, destructive aspects of human nature, we'd eventually come up with social media.

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What will be the biggest stories of 2020? | The Economist

2019-12-27

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The battle for the White House, a possible global recession, Beethoven the eco-warrior, nurses taking centre stage and a controversial Olympic Games. These are The Economist’s predictions for the top stories of 2020. Find out more here: https://econ.st/2MxvZ9U Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy For more from Economist Films visit: http://films.economist.com/ …

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Olympics 2020: are the rules for trans athletes fair? | The Economist

2019-12-26

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In 2020 transgender athletes may take part in the Olympic Games for the first time. But allowing transgender women to compete in women’s sport is provoking a heated debate about inclusion and fairness. Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full …

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Welcome to the Era of Intensifying Chaos and New Weapons of Conflict

2019-12-25

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2019-12-25

Geopolitics has moved from a slow-moving, relatively predictable chess match to rapidly evolving 3-D chess in which the rules keep changing in unpredictable ways. A declining standard of living in the developed world, declining growth for the developed world and geopolitical jockeying for control of resources make for a highly combustible mix awaiting a spark: welcome to the era of intensifying chaos and the rapid advance of new weapons of conflict...

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All-Stars #85 Jeff Snider: U.S. Dollar Year End Review & 2020 Outlook

2019-12-23

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Please visit our website www.macrovoices.com to register your free account to gain access to supporting materials.

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EM Preview for the Week Ahead

2019-12-23

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2019-12-23

EM FX was mostly firmer last week.  ZAR, PEN, and CLP outperformed while TRY, HUF, and CNY underperformed.  MSCI EM traded at new highs for the cycle but ran out of steam near the 1110 area, while MSCI EM FX lagged a bit and has yet to surpass its July high.  Overall, the backdrop for EM remains constructive but investors must be prepared to differentiate amongst credits in 2020.

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Our Fragmentation Accelerates

2019-12-22

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2019-12-22

As our fragmentation accelerates, shared economic interests are ignored in favor of divisive warring camps that share no common interests. That our society and economy are fragmenting is self-evident. This fragmentation is accelerating rapidly, as middle ground vanishes and competing camps harden their positions to solidify the loyalty of the "tribe." 

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Everything Comes Down To Which Way The Dollar Is Leaning

2019-12-21

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2019-12-21

Rising Dollar Squeeze
Is the global economy on the mend as everyone at least here in America is now assuming? For anyone else to attempt to answer that question, they might first have to figure out what went wrong in the first place. Most have simply assumed, and continue to assume, it has been fallout from the “trade wars.”

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MACRO ANALYTICS – 12 19 19 – The New Weapons of Conflict w/ Charles Hugh Smith

2019-12-20

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NOTE: THIS IS NOT AN INTERVIEW BUT RATHER AN ONGOING MONTHLY EXCHANGE BETWEEN CHARLES AND GORDON WHICH IS MADE AVAILABLE TO THE PUBLIC AS A PUBLIC SERVICE. VIDEO NOTIFICATION SIGN-UP: http://bit.ly/2y63PvX-Sign-Up VIDEO ABSTRACT: http://charleshughsmith.blogspot.com/2019/12/welcome-to-era-of-intensifying-chaos.html NEWSLETTER: 04-01-20 https://conta.cc/2X0WFWx Thank you to all Macro Analytics/Gordon T Long YouTube followers. I will continue to add...

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Skyrocketing Costs Will Pop All the Bubbles

2019-12-20

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2019-12-20

Wages aren't keeping up
The reckoning is coming, and everyone who counted on "eternal growth of borrowing" to stave off the reckoning is in for a big surprise. We've used a simple trick to keep the status quo from imploding for the past 11 years: borrow whatever it takes to keep paying the skyrocketing costs for housing, healthcare, college, childcare, government, permanent wars and so on.

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OK Boomer, OK Fed

2019-12-20

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2019-12-20

Student Loans Owned and Securitized, Outstanding 2008-2018
Eventually the younger generations will connect all the economic injustices implicit in 'OK Boomer' with the Fed. Much of the cluelessness and economic inequality behind the OK Boomer meme is the result of Federal Reserve policies that have favored those who already own the assets (Boomers) that the Fed has relentlessly pumped higher, to the extreme disadvantage of younger generations who were not given the opportunity to buy assets cheap and ride...

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Latest European Sentiment Echoes Draghi’s Last Take On Global Economic Risks

2019-12-19

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2019-12-19

Germany Economy, 2016-2019
While sentiment has been at best mixed about the direction of the US economy the past few months, the European economy cannot even manage that much. Its most vocal proponent couldn’t come up with much good to say about it – while he was on his way out the door. At his final press conference as ECB President on October 24, Mario Draghi had to acknowledge (sort of) how he is leaving quite the mess for Christine Lagarde.

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Hard Brexit Redux?

2019-12-19

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2019-12-19

The risks of a hard Brexit are perhaps higher than markets appreciated. Here, we set forth some possible scenarios as to what may unfold after the January 31 deadline. Uncertainty is likely to be protracted and markets hate uncertainty. As such, we see UK assets continuing to underperform.

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How kidnapping became a big business | The Economist

2019-12-18

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Kidnapping has created a growing insurance industry, which regulates ransom demands and saves lives. But it’s a complicated business model in which poorer victims are losing out. Read more here: https://econ.st/2S97rrl Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: …

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China Data: Something New, or Just The Latest Scheduled Acceleration?

2019-12-18

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2019-12-18

China Retail Sales, 2010-2019
The Chinese government was serious about imposing pollution controls on its vast stock of automobiles. The largest market in the world for cars and trucks, the net result of China’s “miracle” years of eurodollar-financed modernization, for the Chinese people living in its huge cities the non-economic costs are, unlike the air, immediately clear each and every day.

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A Repo Deluge…of Necessary Data

2019-12-18

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2019-12-18

US Depository Institutions, 2008-2019
Just in time for more discussions about repo, the Federal Reserve delivers. Not in terms of the repo market, mind you, despite what you hear bandied about in the financial media the Fed doesn’t actually go there. Its repo operations are more RINO’s – repo in name only. No, what the US central bank actually contributes is more helpful data.

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