Economist’s “News and Views”
Stocks Dropped 89% - Will It Happen Again? | Alasdair Macleod
Liberty and Finance: 8-9-2024
Financial analyst Alasdair Macleod draws parallels between current market conditions and those of 1929, just before the Great Depression.
He observes that the disparity between bond yields and equity valuations today mirrors the imbalances seen before the 1929 crash.
This disconnect could lead to a severe market correction, similar to the initial panic that triggered the Great Depression.
Macleod warns that while central banks attempt to stabilize the situation, the underlying economic issues could result in a prolonged and significant downturn.
BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says
Geopolitical analyst: 8-9-1014
The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial system. This system could mitigate dependency on Western institutions, especially amid sanctions and Russia’s SWIFT disconnection.
Fed Broke Another Central Bank, Global Sovereign Debt Crisis & Financial Turmoil Coming – Ed Dowd
Kitco News: 8-10-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Edward Dowd, Founding Partner of Phinance Technologies, who warns that the Federal Reserve finally broke something as interest rates remained at 23-year highs for over a year.
Dowd explains that during this rate-hike cycle, what ended up breaking was another central bank – the Bank of Japan.
He outlines the consequences of this and says the clock has started counting down towards a global debt crisis. Dowd shares his macro outlook while also weighing in on geopolitical tensions and potentially identifying the next ‘Black Swan’ event.
He also gives his outlook on banking, projecting more stress and consolidation in the sector. Dowd warns of a scenario that could open the door to a central bank digital currency (CBDC).
He also speaks about U.S. elections, the U.S. dollar, Bitcoin and gold.
00:00 Coming Up
01:49 Introduction: The Fed Finally Broke Something
04:01 Fed's Actions and Economic Indicators
06:09 Global Debt Crisis and Japan
09:24 Yen Carry Trade 14:60 Geopolitical Tensions and Economic Implications
23:59 Banking Sector Outlook and CBDC Concerns
29:48 CBDCs 36:55 Macro Outlook
44:14 The Future of the Dollar and De-dollarization