Macro Voices

Erik Townsend welcomes Tian Yang to MacroVoices. Erik and Tian discuss the US growth and credit cycles and the global liquidity conditions deteriorating sharply. They further discuss China, global equities and fixed income. They further explore the current conditions in Europe, Japan and Australia

Erik Townsend welcomes Alex Gurevich to MacroVoices. Erik and Alex discuss Mario Draghi and ECB, his short Swiss Franc positioning and the US Dollar outlook. They further discuss trump reflation, equity markets and his views on secular interest rates and inflation. Further discussed China, Japan and the outlook on the Canadian economy.

Erik Townsend welcomes Jesse Felder to MacroVoices. Erik and Jesse discuss the technicals on the markets, DeMark indicators and the potential turning points in the exhausted trends. They further discuss the VIX short positioning and debate if we are in a secular turn in share buybacks?

Erik Townsend welcomes back Keith McCullough to MacroVoices. Erik and Keith discuss his outlook on the US Dollar, his views on the reflation trade rolling over and his bullish outlook on the US markets and the Nasdaq. They further discuss bond yields, the Euro and his outlook on the emerging markets.

Erik Townsend welcomes back Axel Merk to MacroVoices. Erik and Axel discuss Europe, ECB policy, UK elections and the future of the European union. They further debate the Trump reflation trade, the U.S. dollar and fiscal/monetary policy. Looking around the globe, the look at the Chinese Yuan devaluation, Japan and the outlook on gold.

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. This is Part 2 of a 2 Part episode.

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.

Erik Townsend welcomes back Jeffrey Snider to MacroVoices. Erik and Jeffrey look at Eurodollars and the Eurodollar shortage. They discuss the real drivers of the US Dollar bull market and the flaws in the reflation trade narrative. The discuss the connection between Eurodollars and gold and the impact of QE on Eurodollar system.

Erik Townsend welcomes Professor Russell Napier to MacroVoices. Erik and Russell discuss if the U.S. Dollar bull market over, where we are in the secular treasury bond bull market and the coming pension crisis. They further discuss inflation expectations, the outlook for precious metals and the European exit contagion risk.

Erik Townsend welcomes Dr. Lacy Hunt to MacroVoices. Erik and Lacy discuss the important question as to if the secular lows are in for U.S. interest rates. The further discuss the work of Minsky and Kindelberger and ask the important question as if the world is turning Japanese? The further explore the impact of demographics, negative interest rates and the Fed hiking into deteriorating economy.

Erik Townsend welcomes Steve Keen back to MacroVoices. Erik and Steve discuss the French election, the next move in the Euro and U.S. Dollar. The further discuss the bond bull market and considerations in private debt levels. They further discuss global geopolitics, China and ask if we could avoid another financial crisis.

Erik Townsend welcomes Martin Armstrong to MacroVoices. Erik and Martin discuss his views on the U.S. Dollar and the future of the European Union. Martin discusses his bullish case for U.S. stocks and considerations for international money flows. They discuss future interest rate trends, government debt, the geopolitics of North Korea and Syria and considerations on China and the debt crisis.

Erik Townsend welcomes Danielle DiMartino Booth to MacroVoices. Erik and Danielle discuss a look at the Fed from the inside. They further discuss the shadow banking system, reflect on the global financial crisis and the culture at the regional reserve banks.

Erik Townsend welcomes Lance Roberts to MacroVoices. Erik and Lance discuss the liquidity driven markets and the Fed balance sheet driving asset prices. They further discuss the margin debt vs. the net credit balance and as a % of real GDP. The further discuss the total system leverage, the economic deficit and peaks in real profit margins.

Erik Townsend welcomes Juliette Declercq to MacroVoices. Erik and Juliette discuss the US Dollar, 10-year UST and the FOMC. They reflect on Juliette’s perspectives on the red string of fate ties U.S. to China, future FOMC policy and the current business cycle. They further discuss where is the ISM heading next, the impact on Trump’s tax and infrastructure spending and the potential surprises for the upcoming French election.