Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.
This is what always happens before falling through the floor.
US GDP data was solidly - recessionary. There's no soft landing here; on the contrary it is following the established pattern. The economy isn't rebounding, it is highly unstable in the same way as what happened just prior to previous recessions. Looking into the report's details confirms the interpretation.
Time has run out and there's no escaping what's next.
Government officials and politicians, even stock market "analysts", these are the last people you want to depend on for useful macro analysis. What is dependable has been unmistakable if you haven't been distracted. The damage has already been done, and it's just a matter of time. Even Jay Powell's former self says so.
Will gridlock in Washington spill over?
The Treasury's extraordinary measures to avoid breaching the debt ceiling includes winding down its TGA balance with the Fed. The unintended consequence is to raise the level of bank reserves at the same time the Fed is attempting to reduce them (QT). Will this end up restarting "inflation?" Unpacking TGA, QT, and QE with actual evidence, including the Fed's.
No longer a question of "if" or even "when", instead "how long" and "how bad."
We have big and growing economy problem on our hands, one that is confirmed more every passing day by ominous, persistently negative developments. Yet, when you examine a specific class of data, you see none of this. That's because we have an information problem as much as a macro one.
They always get it wrong. This time is no different and here's the proof.
What if the world's most powerful institution is actually nearly powerless? If that was true, it wouldn't sound any different from what came out of the mouth of its most famous leader. The truth has been blocked out even though the proof has been right there out in the open this entire time.
If it is, what does that even mean?
Again the petroyuan. There isn't a day goes by when someone isn't shouting about the dollar's imminent demise and most often they say it has to do with China and oil. The world's current reserve currency system may be reaching the end of its useful life, but I assure you it has absolutely nothing to do with either of those. In fact, the only reason the thing has stuck around is because of what a real reserve currency is and what is has to do.
As usual, Jeff has an incredible grasp of the macroeconomic trends and is able to masterfully explain them to us.
I am updating my earlier review to again compliment Jeff on a series of exceptional podcasts in recent episodes 372-374. I signed up as a EuroDollar member this week and found so much more detailed material. Jeff has a great instructional ability (JAN 2023).
Glad I found your channel!
I started down the macroeconomic course of study earlier this year and a few months ago I learned of your channel/podcast. I never knew of the euro-dollar, it’s yield curve, etc previously. Now I look forward to hearing your discussions on the podcast and on YouTube. Great information, content and presentation!!!
Huge echo chamber nonsense
I have to preface this review by saying I’m a bit of libertarian myself. Not the extreme kind this host seems to be. There is more ranting than basic grasp.
He argues that fed is not a central bank because a) it is not creating money and doesn’t know how to do it and b) not the lender of last resort with ‘ good collateral’ as it’s supposed to be. Just a bunch of smoke and mirrors (aka the dogmatic libertarian)
Let’s take (b): lender of last resort first with good collateral. News : QE is ‘lending’ money by taking AAA rated bonds. Yes, technically it’s purchasing bonds (giving money) rather than lending. Anything more than distinction without a difference ?
None of this has any relevance to the subject of the episode that ‘fed cannot save us’ ( from inflation). Well, very tenuous relevance, at best.