Discussing the function and malfunction of the global monetary order and its consequences on finance, economics, politics and society.
What FRONTLINE got SO wrong about the Fed
FRONTLINE, the US news magazine, is critiquing the Fed for showering banks and business with easy money, which reached neither the real economy nor the vast majority of Americans. Yes to the latter, no to the former.
Glowing Orange: Repo Market Collateral Rumble
Early-morning action in the repo market shows a musical chairs-like collateral scramble.
Interview: What is that Thing's Value Today?
How do we properly measure worth of commodities, wealth and projects from yesteryear?
Light at the End of the Tunnel
The US RRP and Chinese RRR are belching "choo, choo, choo!"
Economy burned and drowned? Check! Now how about that renewal? When is reflation going to get serious?
Reading Jeff Snider on the Fed's Not-Hot Dot-Plot
An underlying liquidity reading (RRP) glows orange. A warning.
A Must if You’re Interested in Economics
Well produced, likable hosts and packed with information. This podcast is smarter than me, and a good portion goes over my head, but I think that’s why I enjoy it. I learn something new from every podcast and am slowly making my way through the back log. Please continue to provide informative and entertaining podcasts.
Jeff Snyder (continued)
The convoluted logic on the podcast grows more insane with each episode. The last episode with Williamson takes the cake. Playing games with relative value when some used car is increasing in price. No, it’s not because the car has more value to the beholder you imbeciles. It make me wonder what kind of junk Alhambra investments is pushing. This is why Snyder avoids talking about asset inflation like the plague. We’re just going to be switching from asset price inflation to cost inflation with a big bust in between.
Snyder is fixated on the velocity of money. Yet any graph shows this is a lagging indicator of inflation not a leading one. Find another indicator. How do you get any coherent signals at all from the bond market when the Fed is buying the remainder? Same for the Japanese treasuries which have had overt yield curve control since 2016. If a car dealer knew that all of his cars would be sold as a fleet sale at the end of month if all regular buyers disappeared, how much would the price change? Snyder needs to understand that the 90s are over and bond signals tell us nothing. What defines this financial era is a stunning near lack of signals altogether given the monetary experimentation at hand.
Finally, someone who cares about the truth!
Amazing. Truly amazing. The bigger picture comes into focus. Sometimes the topics go way over my head. Is there a primer course somewhere?? Truly edifying and enlightening.
And witty. Emil (sp?) and his random sense of humor is astonishingly entertaining.