Macro Voices

Weekly market commentary by Hedge Fund Manager Erik Townsend and interviews with the brightest minds in the world of finance and macroeconomics. Made possible by funding from Fourth Turning Capital Management, LLC
Title Date Author

All-Stars #48 Dr. Pippa Malmgren: It’s not really 1929. Don’t panic.

All-Star Dr. Pippa Malmgren is back. She disagrees with the many market observers who believe we’re on the edge of the cliff, and offers bullish arguments for markets & the economy.

2019-08-21 MacroVoices

All-Stars #47 Luke Gromen: It’s not Stocks or Bonds but the USD that is the “odd man out”

All-Star Luke Gromen is back for another fantastic All-Stars Interview. Why it’s the USD (not stocks or bonds) that is mispriced, and why it sets up an equity bear trap. Great interview!

2019-08-19 MacroVoices

All-Stars #46 Prof. Steve Keen: Yield curve inversion, recession & private debt

All-Star Prof. Steve Keen is back for another great interview. Steve still doesn’t expect a MAJOR U.S. recession, but concedes the yield curve inversion is a signal to be taken seriously. More perspective on policy failure.

2019-08-16 MacroVoices

MacroVoices #180 Daniel Lacalle: The bond market gets it. Global Stocks get it. The S&P 500 has been slow to get the memo.

Erik Townsend and Patrick Ceresna welcome Daniel Lacalle to MacroVoices. Erik and Daniel discuss the risks of competitive devaluation, how the global demand for the dollar is driving the monetary policy & the outlook on gold and its new correlation to the dollar.

2019-08-15 MacroVoices

Energy Week #15: Trade wars, demand outlook, and Saudi Aramco IPO. Panel Alhajji/McMonigle/Chigrl

Energy Week #15 featuring Anas Alhajji, Tracy Shuchart and Joe McMonigle, covers Trade Wars, OPEC, Saudi policy, Gloomy demand forecasts & more.

2019-08-14 MacroVoices

All-Stars #45 Louis-Vincent Gave: Hong Kong, Gold, Bond Yieds, & Stocks

Hong Kong resident Louis-Vincent Gave weighs in on the unrest there and what it means for markets, then we cover gold, bond yields, and stocks. Great interview!

2019-08-13 MacroVoices

All-Stars #44 Jeffrey Snider: The real story on the Chinese Yuan devaluation

All Star Jeff Snider describes a far more intricate and complex explanation for the Yuan breaking 7 to the USD and explains what it means.

2019-08-12 MacroVoices

All-Stars #43 Luke Gromen: Central Banks Ditch Gold-Buying Agreement (But keep buying gold)

All-Star Luke Gromen weighs in on why central banks dumped the Central Bank Gold Agreement but keep buying gold hand-over-fist. Great interview!

2019-08-09 MacroVoices

MacroVoices #179 Ronald-Peter Stöferle: Gold/Precious Metals Special

Erik Townsend and Patrick Ceresna welcome Ronald-Peter Stöferle to MacroVoices. Erik and Ronald discuss why gold is an important asset to own, gold as equity hedge, global de-dollarization and sovereign gold holdings and much more.

2019-08-08 MacroVoices

Energy Week #14: Mayhem in the Market: China Trade Wars, Forward Curve Fireworks & More!

Energy Week dives into the Trade Wars and other factors driving the energy price collapse, forward curve fireworks, and much more! Panelists Art Berman, Chris Cook and Patricia Hemsworth

2019-08-08 MacroVoices

All-Stars #42 Brent Johnson: Still bullish the USD

All-Star Brent Johnson remains convinced the USD is headed higher, despite market fireworks of the last few days. Extensive discussion of gold and stocks as well.

2019-08-06 MacroVoices

All-Stars #41 Juliette Declercq: Powell should be fired!

All-Star Juliette Declercq says Jay Powell blew it last week, and should be fired for it! She says the Fed had the chance to contain the USD ascent but blew it. Great interview!

2019-08-05 MacroVoices

Hot Topic #2 Dr. Hal & Dr. Pippa Malmgren: Father/Daughter Presidential Advisor Team

This special interview with Dr. Harald Malmgren and Dr. Pippa Malmgren was a real treat to record! The father/daughter team disagrees on many present economic issues, and we get a glimpse into growing up Malmgren.

2019-08-04 MacroVoices

All-Stars #40 Prof. Steve Keen: Why Steve does NOT see a U.S. recession on the horizon

Despite being perceived as an economic perma-bear, Prof. Steve Keen says he’s NOT anticipating a U.S. recession any time soon. We also cover his outlook for the rest of the world.

2019-08-02 MacroVoices

MacroVoices #178 Mark Cudmore: Bearish global growth and equity markets, expecting an imminent decline in stock prices

Erik Townsend and Patrick Ceresna welcome Mark Cudmore to MacroVoices. Erik and Mark discuss the global growth and economy outlook, US and China trade negotiations, US equity market and its effects on emerging markets. Special postgame guest: Danielle DiMartino Booth

2019-08-01 MacroVoices

Energy Week #13: EIA Draw—where did the oil go? Panelists Berman/Alhajji/Shuchart

Energy Week starring Art Berman, Anas Alhajji and Tracy Shuchart covers the big EIA draw (where did that oil go?), E&P equity price trend & much more.

2019-07-31 MacroVoices

All-Stars #39 Jeffrey Snider: A deeper dive into Fed Funds and IOER

All-Star Jeff Snider responds in detail to feedback we received from his July 15 All-Stars interview. We explore why IOER is SUPPOSED to be a “double floor” below EFF, and why it’s really not.

2019-07-30 MacroVoices

All-Stars #38 Danielle DiMartino-Booth: FOMC Preview

All-Star Danielle DiMartino Booth gives a briefing on what to expect from Wednesday’s FOMC Press Release, 25 or 50 bps? How will the ECB React? And much more!

2019-07-29 MacroVoices

All-Stars #37 Dr. Pippa Malmgren: Iran, Trump News Network, and Facebook’s $5bn fine

All-Star Dr. Pippa Malmgren weighs in on Iran geopolitical risks, updates her thesis on President Trump having ambitions for a news network after the white house, and comments on Facebook’s $5bn fine.

2019-07-26 MacroVoices

MacroVoices #177 Peter Warburton: Inflation or Stagflation? And how will it occur?

Erik Townsend and Patrick Ceresna welcome Dr. Peter Warburton to MacroVoices. Erik and Dr. Warburton discuss the factors that affect long term outlook for inflation, the history of inflation targeting and inflation controls and Dr. Warburton’s “Blowing Up the Box”

2019-07-25 MacroVoices

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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