Vince Lanci returns to the show to try and make sense of the changes happening in the bond and repo markets as we start 2024. There’s a lot of really technical stuff going on and Vince and I try to do our best to bring it down to the “layman plus” level.
Show Notes
Vince: VBL’s GoldFix (w/ coupon code)
Podcast Episode #161 – Vince Lanci and Tuning the Piano of Financial Bias
Luongo: 10 Dreaded GOAT Predictions for 2024 Part I and Part II
Previous Shows
Podcast Episode #165 — Mark Wauck and the Meanings in Historical Context
Podcast Episode #164 – James Delingpole and the Method of Revelation
Podcast Episode #163 — Alex Krainer and Shifting the Pile of Collateral East
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J Wang (https://www.youtube.com/watch?v=_gYY3FZO_5k&t=5s), if I remember correctly, suggested that deficit spending is the equivalent of QE because the liquidity flows into the general economy one way or another. See Wang @8:13 (Record deficits) and @ 27:16 (QT) and @ 36:09 (The Rev Repo). Therefore, it’s deficit spending that is preventing a recession as currently defined. In essence, this means the problem of the increased debt is not being addressed. The Fed is addressing what it believes “ample reserves” are to the banking sector it supervises.
Yes, but Wang also said that the higher cost of borrowing will force a change in policy in DC at some point. The clear path Biden and Yellen have chosen is to spend to avoid recession to win the election and simultaneously put the US behind the fiscal 8-ball. If they lose the next guy has to do the hard thing and if they win they can continue destroying the country.
“Always take care of a crying baby”. Tom killing it as per usual. That comment made me love you more than I already do.
Agree! You will always walk away with “something” after listening to Tom for an hour. I began to think the same of Gonzalo Lira as well, the few times that I heard him. He had some brilliant observations and witticisms at times. An “old school” Dartmouth grad, back when it was a credible institution. I am very sorry to see him go. Great minds think alike.
What happened to Gonzalo was a warning on so many levels. No one deserves what happened to him but it’s also a sign of the times we live in. He made choices that took him to where he wound up. I’m in no way passing judgment on the man. He was kind to me when I was on his show and he seemed a genuine person. Godspeed to him and to his family.
The other thing that I think is profoundly deep on “so many levels” and is a “sign of the times we live in” is the Harvard plagiarism scandal. The President of Harvard !!! Think about it. Back when you and I went to university that would have been inconceivable. But those were the days where a correction, never mind a retraction, in Nature or Science would have ended one’s academic career. I would like to hear David Collum’s take on it the next time he is on. Deep sadness here regarding Gonzalo also. :(
Agreed. Here’s the gig.. Commies have no shame. Once you understand that they are purely goal-oriented and possessed with a cult-like fervor, you’ll better understand why they simply don’t care if they get caught… getting caught is just proof you are their oppressor.