macroeconomics

  • All-Stars #51 Luke Gromen: USD faces day of reckoning when it becomes clear Fed will have to monetize gov’t deficits

    All-Star Luke Gromen explains why the Fed will soon be forced to monetize U.S. government deficits, and why that has to spell serious trouble for the USD. Link: http://bit.ly/2kgI1tx

  • All-Stars #52 Brent Johnson: Dollar breakout set to continue higher

    All-Star Brent Johnson says the U.S. Dollar breakout is set to continue higher. Brent still expects a pullback in gold, but sees it moving higher long-term. Link: http://bit.ly/2jZsUV0

  • All-Stars #53 Juliette Declercq: What to expect from the ECB on Thursday

    All-Star Juliette Declercq weighs in on what to expect from the ECB this Thursday, as well as her own prescriptions for monetary policy. Link: http://bit.ly/2kAtLfb

  • All-Stars #54 Prof. Steve Keen: China’s move to lower RRR and what it means

    All-Star Prof. Steve Keen is back for an update on China’s move over this past weekend to lower their required reserve ratio (RRR) and what it means. Link: http://bit.ly/2lMpBRu

  • All-Stars #55 Danielle DiMartino-Booth: Jay Powell’s exuberance over U.S. economy is unfounded!

    All-Star Danielle DiMartino-Booth says Jay Powell’s Zurich speech doesn’t jibe with economic reality. Also Carney’s Jackson Hole pitch and more. Link: http://bit.ly/2lLXNgb

  • All-Stars #57 Louis-Vincent Gave: Last week’s dislocation between value and growth

    All-Star Louis-Vincent Gave explains last Monday’s dramatic dislocation between value and growth stocks and why it was important. Also gold, Hong Kong update and more. Link: http://bit.ly/2mdWGGd

  • All-Stars #59 Julian Brigden: Can the Fed still save us from recession?

    MI2 Partners founder Julian Brigden is back with an update on recession outlook, fixed income, and the geopolitical events of last weekend. Link: http://bit.ly/2kntsUS

  • An Interview with Legendary Investor Jim Rogers

    Erik Townsend welcomes legendary investor Jim Rogers as MacroVoices’ first feature interview. Erik and Jim discuss China, falling currencies around the world, the coming market turmoil and its tactical bullish implications for the U.S. dollar, even in the face of longer-term bearish forces that will also affect the dollar, U.S. monetary policy and the failure of Quantitative Easing, weakness in the banking sector despite massive injections of liquidity, the 35-year bond bull market and its eventual end, current trouble in high-yield credit (junk bonds), whether the recent breakout in gold prices is sustainable or a parabolic surge that could lead to a blow-off top, U.S. debt levels, implications of the upcoming U.S. Presidential election on markets, sovereign debt crises, de-dollarization, and much more.

  • Anatomy of the U.S. Dollar End Game Part 1 of 5

    MacroVoices and Erik Townsend welcome Jeffrey Snider, Mark Yusko and Luke Gromen to the show. In Part 1 of the 5 Part Series, Jeffrey Snider presents perspectives on where we are today. Looks at how Russia and Brazil dealt with US dollar funding through derivatives and FX repo auctions. They further discuss China’s management of the U.S. dollar and the evolving Chinese response.

  • Anatomy of the U.S. Dollar End Game Part 2 of 5

    MacroVoices and Erik Townsend welcome Jeffrey Snider, Mark Yusko and Luke Gromen to the show. In Part 2 of the 5 Part Series, Jeffrey Snider explains the post 2007 U.S. Dollar shortage and how the dollar scarcity play out? They move on to discuss the problems facing China at the moment and perspective on the China gold buying. They ask if American politicians even know there is a problem?

  • Anatomy of the U.S. Dollar End Game Part 3 of 5

    MacroVoices and Erik Townsend welcome Jeffrey Snider, Mark Yusko and Luke Gromen to the show. In Part 3 of the 5 Part Series, Mark Yusko and Luke Gromen discuss the cyclical patterns and technicals for the U.S. Dollar and ask if there is room for another rally. They discuss the gold and the oil for Yuan plan. They look at demographics, deflation, lower rates and the new multi-polar FX world.

  • Anatomy of the U.S. Dollar End Game Part 4 of 5

    MacroVoices and Erik Townsend welcome Jeffrey Snider, Mark Yusko and Luke Gromen to the show. In Part 4 of the 5 Part Series, Mark Yusko and Luke Gromen debate the gold/oil ratio and gold as a reserve asset. They further discuss international attempts to bypass the U.S. Dollar and the U.S. Dollar shortage caused by the oil price. The finally debate the U.S. losing its status as a hegemonic power and the logistics in replacing the U.S. System.

  • Anatomy of the U.S. Dollar End Game Part 5 of 5

    MacroVoices and Erik Townsend welcome Jeffrey Snider, Mark Yusko and Luke Gromen to the show. In Part 5 of the 5 Part Series, the panel discuss the possible sign posts for the big change and the potential triggers for a lower U.S. dollar. They ask if structural changes be implemented to change the course of the dollar and ask which investment assets will work the best?

  • Art Berman: Comparative Inventory draws spell higher oil prices

    Erik Townsend welcomes back Art Berman to MacroVoices. Erik and Art discuss the comparative inventories on oil and the oil prices responsiveness to the changes in inventories. The further discuss the realization that price recovery takes time and that many refinery intakes have not yet recovered. They further discuss backwardation on WTI, considerations on OPEC-NOPEC production cuts and the global market balance on oil.

  • Art Berman: Crude Oil Special Double Header

    Erik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss the current oil markets, comparative inventories and OPECs influence on the price. They further put into context on OPEC production cuts and how much new oil is coming from higher prices. They look at the economics on the shale oil fields, perspectives on US oil exports and the general underinvestment in new exploration and development.

  • Art Berman: Crude Oil Special Part 1

    Erik Townsend welcomes back Art Berman to MacroVoices. Erik and Art put perspective on OPEC, the 9-month extension on production cuts and OPEC’s goal to keep a floor under oil prices. They look at the positioning of oil traders since February and the reasons for lower oil prices.

  • Art Berman: Labor Day Weekend Oil Special

    Erik Townsend and Aaron Chan welcome Art Berman to MacroVoices. Erik and Art discuss looking beyond absolute inventory numbers and gleaning insights from comparative inventories, continued time-spread compression reflecting producer hedging or lack of concern for a storage crisis, feedback loop of insanity in inventory builds and production, and much more.

  • Art Berman: Oil Fundamentals Deep Dive Redux

    Arthur Berman largeErik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss:

    • Their calls made on Episode 3 of MacroVoices in February
    • Which fundamental factors have changed since then
    • The damage done to the supply of capital available to shale drillers in spite of oil rising to $50
    • Current US production levels and where they may be headed from here
    • Prices moving up in the face of dangerously high inventory levels at Cushing, OK
    • Using Comparitive Inventories to predict price movements
    • The 'funny' accounting practiced by shale drilling companies and many analysts
    • EIA price forecasts and whether or not they are accurate
    • Geopolitically driven supply disruptions and whether or not they will last
    • Middle Eastern oil production increases and alongside a shifting political picture
    • The possibility of a future where the world can't afford petroleum, and much more...

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  • Art Berman: Oil Fundamentals Deep Dive Redux

    Erik interviews petroleum geologist Art Berman in his second appearance on MacroVoices as they revisit some of their fundamental analysis from Episode 3 back in February

  • Art Berman: OPEC Production Cut, Crude Oil Outlook

    Erik Townsend and Aaron Chan welcome Art Berman to MacroVoices. Erik and Art discuss OPEC's latest production cut agreement and what it means, false conception of cutting production to bring balance to an already-balanced market, how excess oil in storage will suppress prices for some time to come, weak demand growth similar to late-2014 won't support higher prices, OPEC not being as desperate as portrayed by the media, and much more.

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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