macroeconomics

  • Steve Keen: Making sense of the prevailing schools of economic thought

    PROFESSOR STEVE KEEN headshotErik Townsend welcomes Steve Keen to MacroVoices. Erik and Professor Keen discuss:

    • A comparison of the prevailing schools of economic thought
    • The role of credit in the economy
    • The importance of existing inventory when considering supply and demand calculations
    • What's wrong with neoclassical economics and how central bank policy needs to adapt
    • How Professor Keen was able to foresee the 2008 financial crisis
    • The mistake of mainstream economics in ignoring the importance of private sector debt
    • Low credit growth leading to a stangant economy
    • "Zombie Economies" and which countries are most likely to suffer another crisis
    • How to know if you're living in a Zombie Economy
    • The need to reduce private debt, and the ways to incentivize such a reduction
    • Plus Samir Madani joins us to discuss #OOTT and much more

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  • Steve Keen: Making sense of the prevailing schools of economic thought

    Erik and Steve talk about the thought processes driving current economic policy, and how we could best deal with never before seen levels of debt around the world.

  • Steve Keen: On All Things Macro

    Erik Townsend welcomes Steve Keen back to MacroVoices. Erik and Steve discuss the French election, the next move in the Euro and U.S. Dollar. The further discuss the bond bull market and considerations in private debt levels. They further discuss global geopolitics, China and ask if we could avoid another financial crisis.

  • The Coming Bottom in Oil Prices Part I: Deep into Fundamentals with Art Berman

    Arthur Berman largeErik Townsend welcomes geologist and energy industry consultant Art Berman to MacroVoices. Erik and Art discuss:

    • The crude oil backstory and the current oversupply
    • The likelihood of a future production cut from OPEC
    • Middle Eastern politics and how they will affect future oil prices
    • EIA/IEA and other government agency statistics - Are they reliable?
    • Oil storage considerations and the importance of Cushing, OK - How close are we to capacity?
    • The Baker Hughes Rig Count - Does it matter?
    • Iran and their ongoing production increases
    • The US shale patch operators and their associated junk bonds - What is the chance of widespread default?
    • Production decline rates for US shale producers
    • Libya’s potential to affect this market - ISIS standing in the way?
    • Identifying a bottom in the oil market and a whole lot more…

    pdf Click here for supplementary material from Art Berman (1.64 MB)

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  • The Coming Bottom in Oil Prices Part I: Deep into Fundamentals with Art Berman

    The crude oil backstory and the current oversupply, the likelihood of a coming production cut from OPEC, Middle Eastern politics and how they will affect future oil prices, EIA/IEA and other government agency statistics - Are they reliable? Oil storage considerations and the importance of Cushing, OK - How close are we to capacity? The Baker Hughes Rig Count - Does it matter? Iran and their ongoing production increase, the desperation of US shale patch operators and their associated junk bonds - What is the chance of default? Decline rates for US shale producers Libya’s potential to affect this market - Is ISIS standing in the way? Identifying a bottom in the oil market and a whole lot more…

  • The Coming Bottom in Oil Prices Part II: Trading Strategies with Erik Townsend

    Nathan Egger interviews Erik Townsend about trading strategies for the coming bottom in oil prices.

  • The New Bull Market in Gold Part I: Macroeconomic backdrop with Jim Rickards

    Rickards Ani Standing cropped ColorErik Townsend welcomes Jim Rickards to MacroVoices. Erik and Jim discuss:

    • Gold as a currency, rather than an investment, because "earning yield requires taking risk"

    • The USD rally and the Fed’s influence on its ability to continue

    • The difference between a central bank’s ability to cure inflation, vs. curing deflation

    • The possibilities of confiscation, taxation, and NIRP and their effects on the relative attractiveness of Gold

    • The Fed first tightening into weakness, and now turning more dovish after a market correction in early 2016

    • The reasons why governments can’t tolerate inflation

    • Gold as a potential hedge against deflation, as well as inflation

    • How QE actually functions, and why we’ve seen so little effect on the real economy

    • What the next form of stimulus may look like, and how it may affect the outlook on Gold

    • The necessity for structural solutions, not monetary solutions, to structural problems

    • What an increase in institutional holdings of Gold would mean for price, and plenty more...

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  • The New Bull Market in Gold Part I: Macroeconomic backdrop with Jim Rickards

    Erik interviews Jim Rickards, and they discuss the importance of Gold when central banks around the world are perma-easing.

  • The New Bull Market in Gold Part II: Natural resource investing with Rick Rule plus an oil update with Art Berman

    Rick Rule eErik Townsend welcomes Rick Rule to MacroVoices. Erik and Rick discuss:

    • Rick’s general thesis on precious metals and how they differ from other natural resources

    • The relative predictability of commodities due to their cyclicality

    • The spectacular returns available to investors who can be brave when others are fearful

    • The value of contrarian information when markets are out of favor

    • The value of private placement and P.I.P.E. investments

    • Rick’s personal investment strategies at the current time

    • The dangers and importance of identifying conflicts of interest in investing

    • The resources available to investors to help them protect themselves against frauds

    • Erik and Art Berman bring us up to speed on the US crude oil inventory situation, and what fundamental factors may have changed moving the market still higher

    • Art warns that this rally may have been about the market pricing in looming supply risks, and more...

    • Register for free at the top of this page to have Art's powerpoint presentation sent to you by email

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  • The New Bull Market in Gold Part II: Natural resource investing with Rick Rule plus an oil update with Art Berman

    Erik and Rick Rule talk precious metals and other natural resource investments, private placements and private equity risks and rewards, and Art Berman joins us for an update on the crude fundamentals.

  • Tian Yang: It’s not time to be short the stock market. Yet.

    Erik Townsend welcomes Tian Yang to MacroVoices. Erik and Tian discuss the US growth and credit cycles and the global liquidity conditions deteriorating sharply. They further discuss China, global equities and fixed income. They further explore the current conditions in Europe, Japan and Australia

  • Willem Middelkoop: The Big Reset, China's Role in SDR, Gold, Alternatives to Democracy, and More

    Erik Townsend and Aaron Chan welcome Willem Middelkoop to MacroVoices. Erik and Willem discuss Willem's recent book The Big Reset and the coming monetary reset, China's strategic objectives and pushing for the use of SDRs as the global reserve currency, outlook for the coming secular commodity reflation cycle, Willem's call to buy precious metals and miners in January 2016, and much more.

  • Year-end Special: Best Market Calls of 2018

    Join Erik Townsend and Patrick Ceresna as they spend an episode reviewing the best market calls of 2018. They discuss which guests nailed the Bitcoin top, the VIX crash, the Chinese economic turn, emerging markets top, S and P 500 top, the turn in corporate bonds, FAANG, and the peak in bond yields.

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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