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08/11/2021 - The Roundtable Insight – Russell Napier and Yra Harris on Financial Repression and the Age of Debt

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08/09/2021 - Alejandro Tagliavini – Wall Street camino de nuevos máximos?

” Cuenta Ezequiel Burgo que la inversión extranjera directa en Argentina registra los niveles más bajos desde la crisis de 2001. Según el BCRA, hasta junio de 2021 ingresaron US$ 748 M al país durante los últimos doce meses en concepto de ‘inversión directa de no residentes’. Una cifra francamente irrisoria y que, obviamente, se debe a casos muy puntuales y de mantenimiento de emprendimientos ya existentes mostrando que en el fondo hay desinversión en Argentina.”

Link Here to the Article

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08/09/2021 - Yra Harris: Bye Bye, Jerome Powell

“The noose tightens for a strong DOLLAR will create havoc on so many of the world’s most vulnerable economies. When does not fault of their own splash across the OCEANS? Those espousing an end to the global reflation trade due to FED policy pivoting be very cautious. All those in favor of a strong dollar raise your hands, otherwise keep the MUSIC PLAYING AND THE WALL STREET CROWD KEEP DANCING. Hey Joe, you may wish to change partners.”

Link Here to the Blog Post

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08/06/2021 - Dr. Albert Friedberg on Inflation and Impacts to the Economy, Equities and Commodities

45 min Podcast – Link Here

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08/04/2021 - FRA The Roundtable Insight – Upcoming TV Radio Miami Podcast (in Spanish)

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08/04/2021 - FRA The Roundtable Insight Podcast Live on TV Radio Miami (in Spanish)

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.


08/03/2021 - Yra Harris: The Fed As G-30 Proxy?

“The problem remains that the FED bent to the consultations of this illustrious non-elected group with potential for great financial impact. It further confirmed my hypothesis that the FED cannot lead the move to end QE but must be a laggard or suffer the consequences of an overly strong DOLLAR.”

Link Here to the Blog Post

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.


07/27/2021 - Dr. Albert Friedberg on Inflation

“If inflation keeps accelerating beyond their 2.5% per annum expectation, which in our view is guaranteed, increases of 1/4% in Fed funds will be implemented on a quarterly basis. Then monthly. There is a long way to go, and a long time necessary, to reach a funds rate of just 2.5%, the last peak (2019). And, dear reader, that won’t cut it when inflation is running 500 to 800 basis points higher. It’s useless for us to speculate any further. It will be a long time, measured in years, before the Fed regains control of prices. During this long period of time, inflation will rage and consumer purchasing power will shrink as wages struggle to keep up with prices. Economic activity will be severely affected by this loss of purchasing power, and slowdowns and recessions will follow. Corporate margins will shrink. Price controls, always useless and counterproductive, will almost certainly reappear on the scene. The evils of social inequality will be compounded, and social unrest will follow… There are very few places to which we will be able to escape and find safety in the coming financial and economic disaster. But recognizing the problem is the first step and we believe that we have recognized it.

Link Here to the Quarterly Report

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07/27/2021 - Alejandro Tagliavini – ¿El que apuesta al blue pierde?

”  Como venimos anticipando, por ejemplo, en la nota “La economía argentina en situación muy complicada”, la inflación global está tomando un vuelo muy importante (y, por cierto, hay un gran negocio dentro de esto, ya que implica billones de dólares emitidos y regalados a los amigos del poder, que explica buena parte de la “pandemia”).”

Link Here to the Article

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07/26/2021 - Yra Harris: Trade Complications (The Power of the Nation-State)

IF THE FED IS THE FIRST MOVER OF THE MAJOR TO RAISE RATES AND CUT QE THEN THE DOLLAR WILL RISE BECAUSE OF THE MASSIVE AMOUNT OF GLOBAL DOLLAR-DENOMINATED DEBT. A rise in the DOLLAR would lead to declining profits for U.S. multinational corporations, as well as emerging markets having to raise capital thus initiating a global liquidation of various assets. This would naturally mean a correction in equity markets. I guess we’ll see this week as we get another FOMC meeting and Powell press conference.”

Link Here to the Article

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07/23/2021 - Yra Harris: What A Week (Or Was It a Month)

This is it. They can’t raise rates too soon because there’s too much debt, which has been supported by massive asset purchases instituted by all the world’s major central banks.”

Link Here to the Blog Post

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07/22/2021 - The Roundtable Insight – Judd Hirschberg analyzes the Financial Markets

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07/20/2021 - Russell Napier – We are entering a Time of Financial Repression

“The foundations for where we are today were laid in 1998. The book explains where our current predicament came from and how the financial repression we now live with is a fusion of the two forms of capitalism, social capitalism and financial capitalism, that did battle in Asia in 1997 and 1998.”

Link Here to the Article

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07/20/2021 - Yra Harris: Are You Ready When Delta Is?

“While traders are certainly cautious there is NO PANIC. The primary difference from 16 months ago is of course the FED having moved to the ZERO BOUND so yields are just too low at this juncture to attract those in search of a haven at any price. The critical question remains: IF THE ONSET OF THE DELTA VARIANT INCREASES GEOMETRICALLY, WHAT WILL BE THE RESPONSE OF THE MONETARY AND FISCAL AUTHORITIES? WHAT TOOLS REMAIN IN THE BOX? THESE ARE THE CRITICAL ISSUES CONFRONTING ALL INVESTORS WITH U.S. RATES AT ZERO.”

Link Here to the Blog Post

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07/14/2021 - The Roundtable Insight – Peter Boockvar and Yra Harris on the Financial Markets

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07/13/2021 - Alejandro Tagliavini – Grains and food, the inflation paradox

” ironically, as bulk food prices fall, many experts, such as Michael Snyder, recommend hoarding food from supermarkets: “For decades, Americans have not had to worry about food prices… Our supermarkets have always been full, and prices would always be roughly the same. Unfortunately, things are changing…”.”

Link Here to the Article

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07/06/2021 - The Roundtable Insight – Gerard Minack and Yra Harris on the Global Economy and Financial Markets

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07/06/2021 - Yra Harris: A Question to Ponder

“Do China and Russia have state authorities investing in the markets?

If the answer is yes then global investors have many issues to consider. The use of massive amounts of leverage (perfectly legal) utilized by Sovereign Wealth Funds and national pension funds have the power to distort prices as much as the involvement by the FEDECB and BOJ to cause major distortions in the credit markets ..  THE FED MAY NOT BE THE ONLY GAME IN TOWN.”

 

Link Here to the Blog Post

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07/02/2021 - Inflation Alert: Bank of Canada fully monetizing Canada’s deficit spending?

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06/28/2021 - Alejandro Tagliavini – The Argentinian Economy in an Exceedingly Difficult Situation

Link Here to the English Version

“El repunte de la inflación a nivel global sin dudas afectará a la Argentina, aunque mucho más graves son sus problemas internos. Sucede que, los astronómicos programas fiscales proporcionados por las economías más potentes están inflando los precios globales de manera importante. La suba del IPC (consecuencia de la inflación) en EE.UU. durante mayo alcanzó el 5% interanual, mucho para un país desarrollado y, sin dudas, esto recién comienza. Aunque, por otro lado, la ralentización en el crecimiento económico provocará cierta baja en los precios (el IPC) a pesar del aumento de la inflación (devaluación intrínseca de la moneda por exceso de emisión).”

Link Here to the Spanish Version

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.