Making Sense

Making Sense

Discussing the function and malfunction of the global monetary order and its consequences on finance, economics, politics and society.... Show More

Episodes

August 9, 2020 61 min
Perception, and reality.
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How many swings does the Federal Reserve get?
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Hark! Inflation's war cry... At least that is what you'll read in the pages of the financial media. And that is EXACTLY what your central bankers need you to believe.
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July 20, 2020 50 min
Both the US Treasury General Account and Federal Reserve balance sheet are exploding in size. If either was central to money supply the US dollar would fall in value. But they aren't and it isn't.
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July 11, 2020 49 min
Is the post-2008 economic 'boom' proving Marxism? Would communism's big three look at 2020 approvingly? Is communist utopia counter to human nature? Also, yield curve control and more.
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July 4, 2020 38 min
Jeff Snider answers your questions about central banks, inflation, measuring money, private banks... and potpourri? A Jeopardy!-style mailbag show with the 'Cliff Clavin of the Eurodollar'.
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June 27, 2020 46 min
The Communist Manifesto was in response to the 1820-30s. Marxism's worldwide appeal in the 1930s was a consequence of the 1920s. And now, in response to the 2010s, it's ascendant again.
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June 20, 2020 50 min
Econometrics? Sure. But are you familiar with the study of tasseomancy? Never given it any serious thought? Then how can you possibly understand the Chinese economy?
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June 12, 2020 37 min
American books and films published in 1925 will be entering the public domain next year. Included among them will be The Great Gatsby by F. Scott Fitzgerald.
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June 5, 2020 43 min
Millennials may not know this, but many centuries ago mail came by bag not by vibration nor beep.
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May 29, 2020 37 min
The 2020 economic recovery is shaping up to be the worse V since "V", the 1980s American mini-series.
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May 22, 2020 39 min
Then: a man or a woman who is a medium or a wizard was ascribed powers of enchantment and the supernatural. Now: a monetary technocrat is imbued with necromancy, conjuring money out of thin air and levitating stock markets.
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May 15, 2020 32 min
Dr. Milton Friedman, in a December 1997 article, correctly diagnosed what was wrong with the Japanese economy: not enough money. His prescription? Quantitative easing. It was, unfortunately, malpractice. In late April 2020, the Bank of Japan announced its 24th iteration of it. Maaaaaaaaaaaaaaaaaaaaaaaalpractice.
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May 12, 2020 44 min
On September 21, 1897 the The Sun, a newspaper out of New York, printed an editorial in response to a letter from eight-year old Virginia O'Hanlon. "Yes, Virginia, there is a Santa Claus," came the reply. In that tradition, Making Sense presents episode eight, in which we answer your questions.
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May 8, 2020 40 min
The monetary system is missing of money. Expectation of its return is no longer enough; actual recreation of modern money is needed. That job belongs to the private sector, the banks. It was true of the 1930s, and true of present day.
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May 1, 2020 38 min
Hubris. It will get us to the stars but seduce us into believing we belong there. Today, monetary authorities suffer it, believing they can manage the nonlinearity, emergence, spontaneous order, adaptation, and feedback loops of the unravelling.
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April 24, 2020 45 min
Ancient myths, like Crete's Minotaur or the Monkey King, are not taken seriously. But what of modern ones like the Greenspan Put, stock buying Bank of Japan or Treasury selling bond kings? They are, with a Pavlovian-like response by the financial press, celebrated.
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April 17, 2020 34 min
The World Trade Organization's projections, America's labor force participation and the oil futures market are each suggesting that long-term economic damage has already been absorbed. A sharp, smart global recovery looks improbable.
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April 3, 2020 31 min
Jeff Snider (@JeffSnider_AIP), Chief Investment Officer at Alhambra Investments and Prince of Shadows (banking), as well as Emil Kalinowski (@EmilKalinowski) discuss the Federal Reserve latest emergency liquidity programs as well as the International Monetary Fund's 'conservative' estimate of needing $2.5 trillion to cover the 80 requests it has received for emergency funding.
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March 27, 2020 36 min
Jeff Snider (@JeffSnider_AIP) and Emil Kalinowski (@EmilKalinowski) review three topics: repurchase agreement stresses, low interest rates signalling disorder and why LIBOR doesn't think the Fed's new program is the greatest liquidity event since Noah.
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