Macro Voices Podcasts

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Erik Townsend and Patrick Ceresna welcome Lakshman Achuthan to MacroVoices. Erik and Lakshman discuss:

• Will there be disinflation before secular inflation?
• Global Manufacturing PMI & Industrial Growth cycles
• Post GFC – when does national debt becomes problematic?
• Commodities – what to expect cyclically
• Outlook on precious metals
• Does the downturn in economic cycle call for recession?

 Download the podcast transcript: [Click Here]

 

We strongly recommend that you download the chartbook that accompanies this episode, as Erik and Lakshman will refer to it throughout the interview. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

SPECIAL POST GAME GUEST- Grant Williams

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Erik Townsend and Patrick Ceresna welcome Brent Johnson to MacroVoices. Erik and Brent discuss:

• Resiliency of the US dollar
• The Dollar Milkshake Theory
• Inflation vs Deflation
• Portfolio allocation
• Gold, Bitcoin and digital assets

• Agricultural commodities vs industrial commodities

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chartbook that accompanies this episode, as Erik and Brent will refer to it throughout the interview. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Bill Blain to MacroVoices. Erik and Bill discuss:

• Is Inflation here to stay?
• Threat of stagflation 
• How probable is runaway inflation?
• Chinese capitalism vs Western capitalism
• Outlook on US/China relations

• Gold vs Crypto
• How to hedge in real asset market
• MMT and wealth inequality
• Perspectives on ESG

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Darius Dale to MacroVoices. Erik and Darius discuss:

• Inflation vs. Deflation
• Trend in growth
• Measuring trend change and trend reversal
• Impending “second wave” of secular inflation
• How to invest in secular inflation narrative

• Long-term outlook on monetary policy
• Cyclical forces in the economy

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chartbook that accompanies this episode, as Erik and Darius will refer to it throughout the interview. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Aaran Param to MacroVoices. Erik and Aaran discuss:

• Inflation – secular or transitory?
• Where to invest in equity market
• What’s next for the dollar
• How to play EM vs DM
• Perspectives on China

• Bond market outlook
• Commodity super cycle
• Oil, gold & precious metals

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Viktor Shvets to MacroVoices. Erik and Viktor discuss:

• Inflation vs. disinflation
• “Everything will go to zero”
• Cause of changes in economic behavior and social attitude
• Generation cycles and fourth turning
• Capital markets and Fed policy – where are they headed?

• Is the only possible direction for interest rates to go up?

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Eric Peters to MacroVoices. Erik and Eric discuss:

• Views on current inflation narrative
• How to hedge in a transitory inflation environment
• Consequences and implications of secular inflation
• How long it will take for inflation to go from “good” to “bad”
• Will digital currency eventually replace fiat currency?

• Will Bitcoin benefit from CBDC?

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Daniel Lacalle to MacroVoices. Erik and Daniel discuss:

• Views on inflation

• Recovery – how differences in sentiment will impact demand
• Logic behind central banks policy trend toward tapering
• Where will continued money printing lead us?
• Perspectives on ESG aware investing trend
• Energy market outlook

• Digital currency – where are we headed?

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Philip Verleger to MacroVoices. Erik and Philip discuss:

• IEA’s forecast on shutting down the oil industry
• What will happen to price action at the wind-down of the industry
• Perspectives on inflation
• What would happen if this inflation is not transitory?
• Carbon sequestration and carbon credits
• Metals and petroleum – why is China selling metals?
• ESG and nuclear energy
• Outlook on oil

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Steve Keen to MacroVoices. Erik and Steve discuss:

• Relationship between inflation and bond rates
• Perspectives on recent action of US 10yr Treasury yield
• MMT – how will this concept be adopted?
• Will MMT create even more private debt and is there a way to avoid it?
• Debunking ESG for investors 
• Rebuttal to William Nordhaus 
• Steve’s new book - The New Economics: A Manifesto 

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Marin Katusa to MacroVoices. Erik and Marin discuss:

• Options that exist for accredited investors in precious metals market

• Private placement in precious metals and how it works
• Pros and cons of Capital Introduction industry 
• Disadvantages of using a broker
• What Katusa Research newsletter offers
• Access to private placement and financing vs. public market

• Marin’s new book: The Rise of America

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Larry McDonald to MacroVoices. Erik and Larry discuss:

Relationship between inflation and treasury yields

• Outlook on US/China relations
• What to expect in equity and bond market
• Drivers of upcoming price increase in oil
• Trading opportunities in energy market
• “Alpha Male Central Banker”
• Breakdown of the dollar and its implications
• Oil demand expectations in the re-opening 

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome David Rosenberg to MacroVoices. Erik and David discuss:

• Are we really facing secular inflation?
• How the recent stimulus impacts the inflation narrative
• FED has it right – this inflation is a “transitory phenomenon”
• How to play against the popular narrative that secular inflation is imminent
• Why this inflation is transitory
• Outlook on treasury yields

Download the podcast transcript: [Click Here]

Free 30-day Trial to Dave's Economic Research 

Charts with Dave 2021 05 06 MacroVoices 

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Harley Bassman to MacroVoices. Erik and Harley discuss:

• What’s needed to hedge against rising interest rates
• “Financial Tsunami” and what that would mean for the markets
• Reasons behind Harley’s new project with Simplify
• The new ETF, PFIX– who is it for?  
• How rising interest rates will cause systemic risks in the market
• How PFIX  can protect portfolio  
• Perspectives on inflation

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chartbook that accompanies this episode, as Erik and Harley will refer to it throughout the interview. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Dylan Grice to MacroVoices. Erik and Dylan discuss:

• Inflation vs. Deflation
• US 10yr Yield outlook
• Reasons why there is potential for a big rally in crude oil
• Perspectives on oil and transitioning into EV
• Portfolio composition to play inflation
• Asymmetric trade opportunities
• ECB and the Fed – where are they headed?
• Risks of central banks intertwining with politics

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout the postgame segment. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Charlie McElligott to MacroVoices. Erik and Charlie discuss:

• Deflation vs. Inflation
• Can US Treasury 10yr Yields  press 2%?
• Sentiment and vol factors and thematic reversal risk
• Nomura Vol control model anticipates potential “buy flows”
• Thematic & Factor risk premia performance trends
• SPX/SPY Consolidated $Gamma/$Delta

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Charlie will refer to it throughout the discussion. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Art Berman to MacroVoices. Erik and Art discuss:

• General outlook on oil
• Factors causing continuous decline in production
• Why should we not expect increases in price?
• OPEC spare capacity vs Brent price
• Reasons to expect demand to return to pre-pandemic levels by end of 2021
• Price outlook for the rest of 2021
• Increase in price vs. rig count
• Impact of electrification on oil

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Art will refer to it throughout the discussion. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Jeff Snider to MacroVoices. Erik and Jeff discuss:

• Why deflation?
• Was it really a historic sell-off in bond market?
• Why the government wants inflation
• US Treasury yield curve vs. Eurodollar yield curve
• Will the Fed stick to the zero lower bound for the foreseeable future?
• Definition of reflation vs. recovery
• Underwhelming current reflationary sell-off
• Inflation expectations in the TIPS market

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Jeff will refer to it throughout the discussion. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Jesse Felder to MacroVoices. Erik and Jesse discuss:

• Inflation outlook and its main drivers
• S&P500 index and margin debt to GDP analysis
• Potential peak in earnings growth ahead
• Corporate profit margins vs. Labor share
• Stocks vs. Interest rates, Interest Rates vs. Financial Instability
• Gold and crypto currency
• How value investing works in overpriced asset conditions

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Jesse will refer to it throughout the discussion. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Erik Townsend and Patrick Ceresna welcome Steven Van Metre to MacroVoices. Erik and Steven discuss:

• Why deflation, why not inflation?
• QE – how it really works
• Why is the current MMT inspired stimulus not inflationary?
• Reasons why there is a need for existing bank reserves for QE
• What will the next stimulus bring?  
• What is a liquidity trap and why we’re headed towards it
• Implications of liquidity trap and how to resolve it
• Outlook on bond yields

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Steven will refer to it throughout the discussion. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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