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Collapse In Global M1 Signals A Worldwide Recession Has Arrived

Collapse In Global M1 Signals A Worldwide Recession Has Arrived By now everyone has seen some iteration of this chart showing that the annual change in central bank liquidity is now negative. Another way to visualize just the Fed’s balance sheet contraction is courtesy of this chart from Morgan Stanley which shows specifically which assets […]

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Chinese Shadow Bank Lending Unexpectedly Crashes, Sending Total Credit Creation To Two-Year Low

Chinese Shadow Bank Lending Unexpectedly Crashes, Sending Total Credit Creation To Two-Year Low According to most flow-tracking economists (and not their clueless, conventionally-trained peers) when one strips away  the noise, there are just two things that matter for the global economy and asset prices: central bank liquidity injections, and Chinese credit creation. This is shown […]

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“This Is Most Worrying”: In One Year, Central Bank Liquidity Will Collapse From $2 Trillion To Zero

“This Is Most Worrying”: In One Year, Central Bank Liquidity Will Collapse From $2 Trillion To Zero  Is it complacency, or simply trader paralysis? A question we first asked three months ago is getting a second wind this morning, when in a report by Deutsche Bank’s Alan Ruskin, the macro strategist points out that “the […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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