People are always making these types of requests and these requests make no sense at all. These guests have better things to do than return every 30 days. Also, they won't have anything new to say in 30 days. Also, these guests need to feel interested and motivated to be on Jack's show; they won't feel interested or motivated if they are routinely appearing every 30 days finding ways to pretend that they have something new to say in order to satisfy the insecure demands of people who are fooling themselves into thinking that a routine 30 day appearance of their favorite guest is going to result in making money. Jack, please do not try to have Michael Howell back as a monthly regular. Simply invite him back when it seems to make sense to do so. Thanks.
"Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions.
@Bill I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-adviser whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I netted a whooping $280K during this dip, that made it clear there's more to the market that we average joe's don't know..
@Tyler Jackson Yes i agree and right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from my mentor, "CASEY ALLEN GRAY" she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@tatianastarcic True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
@@maiadazz Having a counselor is essential for portfolio diversification. My advisor is Melissa Scott Glazner who is easily searchable and has extensive knowledge of the financial markets.
Michael Howell's book the Capital Wars is the best book I have ever read about liquidity. This time he demonstrated that his model of liquidity was powerful enough to capture the inflection point.
The maket trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investrs is at its lowest point. I read an article of people that grossed profts up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
The stock market rally is still in force, but the major indexes, sectors and especially leading stocks are prone to reversals. I recommend you seek the guidance a broker or financial advisor.
I agree, having a brokerage advisor for inveesting is genius! Not long ago amidst the pandemic crash in March 2020, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@selenajack2036 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you
This is really eye-opening stuff: government virtue-signalling at its best. Fresh new thinking here. Michael is brilliant and very humble. A delight to listen to.
Wonderful to see Blockworks Macro present a changing view as markets evolve and not stick to only one side of the story as seen on other youtube channels that tend to go perma. Great work, wonderful video, keep it up.
Jeff Snider and Michael Howell together for an interview would be a banger. Would love to hear a constructive debate between these two brilliant minds.
So liquidity just bubbles up and oozes through the floor boards. It's magic. We must have more liquiidity else asset prices might reflect their intrinsic value and the whole game wouild collapse.
That’s the thing. If we are entering another growth cycle before inflation is truly subdued the whole world will end up like Japan.. I think he has valid arguments and solid data but I’m not sold on the soft landing yet. There’s plenty of offsetting data showing we are still in big trouble.
The reason we need to raise rates is because there is already excess liquidity that is fueling the inflation. If "fresh liquidity" is coming to support a bull market, it will have to come from foreign central banks selling US treasuries by the hundreds of billions every month. That will force the Fed to raise interest rates, not reduce it, or pause raising it.
This is brilliant analysis, agree with other comments this is one of the best interviews and presentations on macro going round. Well done all round, thanks so much.
Michael Howell, Russell Napier and Richard Werner are the lenses of macro understanding that know how to focus on the bigger picture. Mike Green and Eric Basmajian also has great clarity in how to analyse the big picture. Both Mike Green and Howell have also looked at the speculation of dollar weaponisation last year.
If what he says is true the foreseeable future is going to suck for everybody. It’ll be a whipsaw global economy. Liquidity and inflation chasing each other around the globe. What’s the end game for a system like that?
It’s great to see Michael back, especially in view that he considers the Italian (MacroAlf) rude. Perhaps you can organise a debate , the Fed Guy can mediate. Love your work Jack
Really informative and this confirmed a lot of my own outlines going forward as well. Pretty typical of the market to do the exact opposite thing to what everyone is pricing for and positioning for, lol. I think if we see a breakout on the S&P and RUT and such soon, then the sheer number of shorts and vol plays that get caught holding the bag could well fuel a good melt-up.
Micheal Howell‘s analysis of liquidity conditions addresses the most fundamental monetary element determining the (global) economy. But IMO he seriously underestimates the actual and structural problems of the Chinese economy, which easily can counter any efforts of the PBoC and economic planners in China to effectively stimulate the economy, and without effectively stimulating the economy increasing liquidity leads to nothing. Or - to put it differently: an imminent debt crisis always will cancel any liquidity cycle
Japan is probably the poster child for the rest of us. A stagnant economy indefinitely. I also don’t understand how he brushes off inflation so easily. I like hearing an opposition view though
@@ThetaBurnVictim very much agreed. Up from a certain debt level and - even worse - an accompanying far too much extended Central Bank Balance sheet liquidity cycles will increasingly become less consequential
@@dankurth4232 hence the flight to gold as fiat gets trashed. As Michael says government fixed income is getting trashed as fiat gets diluted into piss
To be successful in markets, traders should understand the crossover between asset classes & liquidity flow. Ava Rowena focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.
Why would term premia be negative due to demand for collateral (for the 10Y Treasury). The 2Y Treasury is also good collateral… Also, is the Fed Fund Rate Expectation (or average over 10 years) really 5%, surely it’s less…
So interesting how guys like Jeff Snider completely and methodically debunk the Chinese credit impulse with a raft of detailed statistical data. Actually nets out to a lower overall number than last year
Aside from PBoC actions, i do wonder if recent upturn in the GLI also reflected a positive valuation effect arising from converting a nation's money supply using a weaker USD? If so, that reduces the influence of policy actions of global CBs on the GLI.
I never understood why people differentiate between money printing from commercial bank and liquidity provided by the fed ? Both kind of money are inflationary in their own rights.
I have a problem with the notion of Bitcoin as a barometer. The evidence says Bitcoin was manipulated up through wash trading and other chicanery. The second he says it does what gold used to do but better I've already mentally checked out.
Kind of bold to say that the US banking system is rock solid when no one has any idea what's going on in shadow banking and these same banks are among the biggest players in the shadow banking market. So no one knows the size of their shadow books, the amount of leverage they're employing, or the quality of the debt they own. What could go wrong?
I think he’s basically saying England scared the shit out of all the central bankers and now “China and Japan go Brrrrrr” and the rest of the world is slowly (behind the scenes) following.
I don’t get all the praise he’s getting in the comments. His attempt to explain how the Fed is injecting liquidity despite QT is unsatisfying and mostly hand waving. Kinda wish Joseph Wang was here to push him a bit on some of his claims.
In order to make profits from trading you need loads of experience and a well defined strategy, which most traders don't have. If you trade without the proper preparation, you're most likely to lose your money. Identify the buy/sell ratios and identify the market leaders and most importantly. Diversify! this will help you spread risk.
@@albertbruce2169 please who is the expert guiding you? i have lost so much as a beginner🥺 investing into stock without a proper guidiance of an expert.
My Financial Advisor is "Judith Leka Riley " I found him on a CNBC interview where he was featured and reached out to his afterwards. he has since provide entry and exit points on the securities I focus on. You can look him up online if you care supervision. I basically follow his market moves and haven’t regretted doing so.
@@lomagoorgina5606 Thanks, I just searched him up on google and I'm super impressed with his qualifications. Have contacted him through his webpage to hear what he has to say about my situation.
He glossed over inflation pretty quickly but if what he says is true stagflation seems the likely outcome. We should all look to japan so see how the next decade is going to go.
Look at Russell Napiers NZZ articles from just over a year ago. Inflation will run hotter than long term rates and stocks yield slightly more in infrastructure sectors... Eg semis and the CHIPS act. High debt to GDP means one has to print out of this because rates can't go up. As Michael implies this is because debt has to be refinanced, and this rates can't go up like they did in the 70s
What is liquidity going to do when you have to borrow it at 5 % rates and higher ???? If all these liquidity was put to use bond yields wouldn’t be rising would they a? Am i missing something ?
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "FLORENCE YAGODA ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in Gold, silver and digital currencies(BTC, ETH..).
9/11 is a pebble in a pond compared to Ukraine. Emerging markets are gonna grow when the people are gonna starve? Marginal productivity of debt is still falling. World trade is falling. So where is all this liquidity gonna get it's income?
What about the forces that are sucking out liquidity? For starts there are many of us who have been pulling most of our investments out of the stock, long-term bonds, and other securities/investments markets and into short-term sovereign debt instruments due to the central bank short-term funds rates being so much more attractive now? The 1 year US Treasuries now yielding 4.93% its negatively impacting the Sharpe Ratios of ALL investment models. for the last 8 months of 2020 every single day the 1 year US Treasuries were yielding under 0.20%. As the US government continues to accelerate its rate of deficits growth and organizations/families everywhere face interest rate resets as their current debt issues mature and need to be rolled over we'll see this sucking out of liquidity pick up even more.
It's difficult for me to grasp an idea that you could have biggest equity bubble ever, Fed hikes iterest rates at the fastest pace to almost 5% and nothing happens 🤔. Instead we got bear market that lasted 8-9 months, which couldn't even erase Covid parabolic rally and except tech stocks things are almost back to ATH in just 4 months 🤔 That would be devastating to the bears, but it ain't over till it's over, as the saying goes
So, the markets have resumed the collapse after a brief bear market rally, and I am short the market. Should I stop making money on my short position and join the loser longs?
1:43 - "Liquidity cylce tends to have a frequency of around about six to seven years"- so what? This is the "normal" business cycle. Is Michale Howell stating that just a new business cycle has begun?
Michael is a brilliant guy. Please invite him monthly 🤩
YES
PLEASE DO.
People are always making these types of requests and these requests make no sense at all. These guests have better things to do than return every 30 days. Also, they won't have anything new to say in 30 days. Also, these guests need to feel interested and motivated to be on Jack's show; they won't feel interested or motivated if they are routinely appearing every 30 days finding ways to pretend that they have something new to say in order to satisfy the insecure demands of people who are fooling themselves into thinking that a routine 30 day appearance of their favorite guest is going to result in making money.
Jack, please do not try to have Michael Howell back as a monthly regular. Simply invite him back when it seems to make sense to do so. Thanks.
Quarterly or twice a year. These views aren't fast changing enough for monthly.
"Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions.
@Bill I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-adviser whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I netted a whooping $280K during this dip, that made it clear there's more to the market that we average joe's don't know..
@Tyler Jackson Yes i agree and right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from my mentor, "CASEY ALLEN GRAY" she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.
Outstanding. Michael is very generous to provide these institutional insights for free. Excellent teacher.
It really was a superb episode Darius!
Felt like a lecture. Really informative.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
yes, transportation, e-commerce among other sectors are expected to experience growth, but who knows, the market has been a basket of surprises.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@tatianastarcic True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
@@maiadazz Having a counselor is essential for portfolio diversification. My advisor is Melissa Scott Glazner who is easily searchable and has extensive knowledge of the financial markets.
Grant Williams and Michael Howell are some of the best guests you can have. Experience, expertise, intelligence and sound analysis.
Michael gets bitcoin though. Grant took a victory lap on bitcoin when FTX showed the scam-nature of crypto. 🤦♂️
Michael Howell's book the Capital Wars is the best book I have ever read about liquidity. This time he demonstrated that his model of liquidity was powerful enough to capture the inflection point.
The maket trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investrs is at its lowest point. I read an article of people that grossed profts up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
The stock market rally is still in force, but the major indexes, sectors and especially leading stocks are prone to reversals. I recommend you seek the guidance a broker or financial advisor.
I agree, having a brokerage advisor for inveesting is genius! Not long ago amidst the pandemic crash in March 2020, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@selenajack2036 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you
@@evitasmith6218 Personally I work with Eleanor Annette Eckhaus a registered Investment advisor. Quite renowned, search her name to get in touch.
This is really eye-opening stuff: government virtue-signalling at its best. Fresh new thinking here. Michael is brilliant and very humble. A delight to listen to.
This episode was nothing short of superb. Golden nugget of information after golden nugget. Cheers!
Frist time listened to Michael Howell - amazing insights. Bring this guy back on!
Simply the best macro interview I've heard on forward guidance and perhaps ever. Thank you very much.
It really was superb. One of the best I've heard too.
BY FAAAAR YOUR BEST GUEST. BY FAR. VERY FAR. THANK YOU.
The fresh cut looking good Jack!
This is the best video on global liquidity and its impact on financial markets. A must-watch for all investors.
Wonderful to see Blockworks Macro present a changing view as markets evolve and not stick to only one side of the story as seen on other youtube channels that tend to go perma. Great work, wonderful video, keep it up.
Quite an excellent conversation. This is so central to everything going on in the global economy & and the financial markets.
Jeff Snider and Michael Howell together for an interview would be a banger. Would love to hear a constructive debate between these two brilliant minds.
So liquidity just bubbles up and oozes through the floor boards. It's magic. We must have more liquiidity else asset prices might reflect their intrinsic value and the whole game wouild collapse.
That’s the thing. If we are entering another growth cycle before inflation is truly subdued the whole world will end up like Japan.. I think he has valid arguments and solid data but I’m not sold on the soft landing yet. There’s plenty of offsetting data showing we are still in big trouble.
The reason we need to raise rates is because there is already excess liquidity that is fueling the inflation. If "fresh liquidity" is coming to support a bull market, it will have to come from foreign central banks selling US treasuries by the hundreds of billions every month. That will force the Fed to raise interest rates, not reduce it, or pause raising it.
Great coo on getting Michael Howell on, Jack. He is excellent value as always.
This is brilliant analysis, agree with other comments this is one of the best interviews and presentations on macro going round. Well done all round, thanks so much.
It's very interesting to compare the views of Michael Howell and Jeff Snider on liquidity and central banking.
Exactly, Jeff is actually arguing against that alleged liquidity flood from china. Two convincing vioces.
What do they disagree on?
@@tonyb313 yield curve inversion. Jeff is seemingly reading it as likely to indicate a bad outcome and recession, and is expecting a hard landing.
When grey haired man tells you to buy crypto, you buy crypto. Incredibly interesting interview and amazing guest. Thank you so much Jack!
What a fantastic explanation of liquidity. Is that chart-deck available somewhere? I'd love to study it a bit closer.
Brilliant episode, Michael is the GOAT!
So the Fed is increasing liquidity in the face of "sticky" inflation?
PBOC and BoJ are the ones printing, but I'm sure swap lines are hard at play
Absolutely amazing session !!!
Michael Howell, Russell Napier and Richard Werner are the lenses of macro understanding that know how to focus on the bigger picture. Mike Green and Eric Basmajian also has great clarity in how to analyse the big picture. Both Mike Green and Howell have also looked at the speculation of dollar weaponisation last year.
Awesome information, as always! Really enjoy your podcasts!!
Great perspective, different from mainstream.
Thanks Jack. Great listen. 👌
I could listen to michael all day fantastic.
If what he says is true the foreseeable future is going to suck for everybody. It’ll be a whipsaw global economy. Liquidity and inflation chasing
each other around the globe.
What’s the end game for a
system like that?
Thanks guys
Thanks for this master class.
Economic investigator Frank G Melbourne Australia 🇦🇺 still watching this very informative content cheers Frank
At the beginning of every financial crisis we always get idiots like this telling people to buy at the peak.😒😒
Excellent interview, one of most informative podcasts ever. On my second listen now!
Best guest by far.. can’t get enough
It’s great to see Michael back, especially in view that he considers the Italian (MacroAlf) rude. Perhaps you can organise a debate , the Fed Guy can mediate. Love your work Jack
Thank you for sharing these helpful tips!
Love the haircut! In all seriousness, great episode
Really informative and this confirmed a lot of my own outlines going forward as well. Pretty typical of the market to do the exact opposite thing to what everyone is pricing for and positioning for, lol. I think if we see a breakout on the S&P and RUT and such soon, then the sheer number of shorts and vol plays that get caught holding the bag could well fuel a good melt-up.
Micheal Howell‘s analysis of liquidity conditions addresses the most fundamental monetary element determining the (global) economy. But IMO he seriously underestimates the actual and structural problems of the Chinese economy, which easily can counter any efforts of the PBoC and economic planners in China to effectively stimulate the economy, and without effectively stimulating the economy increasing liquidity leads to nothing. Or - to put it differently: an imminent debt crisis always will cancel any liquidity cycle
Japan is probably the poster child for the rest of us. A stagnant economy indefinitely. I also don’t understand how he brushes off inflation so easily. I like hearing an opposition view though
@@ThetaBurnVictim very much agreed. Up from a certain debt level and - even worse - an accompanying far too much extended Central Bank Balance sheet liquidity cycles will increasingly become less consequential
@@dankurth4232 hence the flight to gold as fiat gets trashed. As Michael says government fixed income is getting trashed as fiat gets diluted into piss
@@jayearl3591 Agreed! But after you have purchased it, it will become tricky to keep your Gold
All the bulls appreciate this episode. Although they don't understand the current markets.
To be successful in markets, traders should understand the crossover between asset classes & liquidity flow. Ava Rowena focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.
Mrs Ava Rowena changed my life because of her high profits I got from investing with her.
I'm new at this, please how can i reach your broker?
You invest with Mrs Ava Rowena? Wow that woman has been a blessing to me and my family.
I was skeptical at first until I decided to try. It's huge returns is awesome! I can't say much.
< *You can communicate with her on telegam with the user name below* >
One question. What can we do with that flood of liquidity (banking accounting tokens)in real economy and asset markets?
Mind-blowing views. Great questions Jack-- you really hung in there with real time thinking.
One of your best guests, please invite him more often
Astonishingly great!
Best guest i've seen so far
When is this recorded?
Why would term premia be negative due to demand for collateral (for the 10Y Treasury). The 2Y Treasury is also good collateral…
Also, is the Fed Fund Rate Expectation (or average over 10 years) really 5%, surely it’s less…
Amazing interview! Thanks
So interesting how guys like Jeff Snider completely and methodically debunk the Chinese credit impulse with a raft of detailed statistical data. Actually nets out to a lower overall number than last year
This was excellent! Thank you Jack.
Aside from PBoC actions, i do wonder if recent upturn in the GLI also reflected a positive valuation effect arising from converting a nation's money supply using a weaker USD? If so, that reduces the influence of policy actions of global CBs on the GLI.
I never understood why people differentiate between money printing from commercial bank and liquidity provided by the fed ?
Both kind of money are inflationary in their own rights.
Excelllent, for the next one pls interview Ian Harnett for an equally well articulated and direct opposite pov :-)
I have a problem with the notion of Bitcoin as a barometer. The evidence says Bitcoin was manipulated up through wash trading and other chicanery. The second he says it does what gold used to do but better I've already mentally checked out.
Jack, you look 10x cooler and more badass with that haircut and goatee. Rocking it.
Excellent analysis.
Gracias
Definitely one of the top 5 people listen to.
high value content! Thank you! Why is Michaels book so expensive? :(
Kind of bold to say that the US banking system is rock solid when no one has any idea what's going on in shadow banking and these same banks are among the biggest players in the shadow banking market. So no one knows the size of their shadow books, the amount of leverage they're employing, or the quality of the debt they own. What could go wrong?
So higher for longer on rates trnslates to a new bull market?
I think he’s basically saying England scared the shit out of all the central bankers and now “China and Japan go Brrrrrr” and the rest of the world is slowly (behind the scenes) following.
Yep, as long as companies can refinance. If rates are getting cut it's because the system has broken due to a liquidity crisis
just a privilege to listen in
What a brilliant and calm guy
Great interview
I don’t get all the praise he’s getting in the comments. His attempt to explain how the Fed is injecting liquidity despite QT is unsatisfying and mostly hand waving. Kinda wish Joseph Wang was here to push him a bit on some of his claims.
How is central bank liquidity affecting the markets and asset price??????
In order to make profits from trading you need loads of experience and a well defined strategy, which most traders don't have. If you trade without the proper preparation, you're most likely to lose your money. Identify the buy/sell ratios and identify the market leaders and most importantly. Diversify! this will help you spread risk.
@@albertbruce2169 please who is the expert guiding you? i have lost so much as a beginner🥺 investing into stock without a proper guidiance of an expert.
My Financial Advisor is "Judith Leka Riley " I found him on a CNBC interview where he was featured and reached out to his afterwards. he has since provide entry and exit points on the securities I focus on. You can look him up online if you care supervision. I basically follow his market moves and haven’t
regretted doing so.
@@lomagoorgina5606 Thanks, I just searched him up on google and I'm super impressed with his qualifications. Have contacted him
through his webpage to hear what he
has to say about my situation.
Thanks for sharing, i just look JUDITH LEKA RILEY up on internet and i would say she really does have
an impressive background on
investing
Awesome interview.
What does this mean for inflation?
He glossed over inflation pretty quickly but if what he says is true stagflation seems the likely outcome. We should all look to japan so see how the next decade is going to go.
Look at Russell Napiers NZZ articles from just over a year ago. Inflation will run hotter than long term rates and stocks yield slightly more in infrastructure sectors... Eg semis and the CHIPS act. High debt to GDP means one has to print out of this because rates can't go up. As Michael implies this is because debt has to be refinanced, and this rates can't go up like they did in the 70s
What is liquidity going to do when you have to borrow it at 5 % rates and higher ???? If all these liquidity was put to use bond yields wouldn’t be rising would they a? Am i missing something ?
Good one thanks
Liquidity Cycles every with a frequency of 6-7 years. Why? waves hands... *magic*
The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "FLORENCE YAGODA ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
That's right, getting in touch with a consultant during the pandemic was how I was able to scale through the crazy stock downtrend.
That's massive. Can you please connect me with your personal broker, I would love to work with her
Like I said earlier , her name is FLORENCE YAGODA and you can reach her via her website.
Just run a search on her name, and you would see all you need.
Thanks for the info . Found her website and it really impressive
Haircut suits you Jack.
This guy is great.
Dang, what happen to unemployment go up, economy go down then stocks go down.
didnt hear how long the Rebound-Calm-Speculation-Turbulence cycle takes. I guess it all depends.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in Gold, silver and digital currencies(BTC, ETH..).
Michael doesn’t miss
Good interview 👍
Where was Michael in October, November, December, or January?
Thank you so much!
Be wary of anyone who says they are 100% sure about something 2 years out.
9/11 is a pebble in a pond compared to Ukraine. Emerging markets are gonna grow when the people are gonna starve? Marginal productivity of debt is still falling. World trade is falling. So where is all this liquidity gonna get it's income?
What about the forces that are sucking out liquidity? For starts there are many of us who have been pulling most of our investments out of the stock, long-term bonds, and other securities/investments markets and into short-term sovereign debt instruments due to the central bank short-term funds rates being so much more attractive now? The 1 year US Treasuries now yielding 4.93% its negatively impacting the Sharpe Ratios of ALL investment models. for the last 8 months of 2020 every single day the 1 year US Treasuries were yielding under 0.20%. As the US government continues to accelerate its rate of deficits growth and organizations/families everywhere face interest rate resets as their current debt issues mature and need to be rolled over we'll see this sucking out of liquidity pick up even more.
It's difficult for me to grasp an idea that you could have biggest equity bubble ever, Fed hikes iterest rates at the fastest pace to almost 5% and nothing happens 🤔. Instead we got bear market that lasted 8-9 months, which couldn't even erase Covid parabolic rally and except tech stocks things are almost back to ATH in just 4 months 🤔
That would be devastating to the bears, but it ain't over till it's over, as the saying goes
Amazing answers to wtf is going on right now
21:30 crypto a measure of excess liquidity?
Superb thank you
So, the markets have resumed the collapse after a brief bear market rally, and I am short the market. Should I stop making money on my short position and join the loser longs?
Liquidity/values going to payment system infrastructure **not** speculation. ["DLT"!]
Nice cut jack
This poses questions such as: is China going to start buying Europe's sovereign debt...?
Emerging markets must surely see positive growth from China and declining dollar.
1:43 - "Liquidity cylce tends to have a frequency of around about six to seven years"- so what? This is the "normal" business cycle. Is Michale Howell stating that just a new business cycle has begun?