Eurodollar University

"The pen is mightier than the sword." "The great unwashed." "Pursuit of the almighty dollar." These are prhases we have all heard and they come from a single source: 19th century English writer and politician Edward George Earle Lytton Bulwer-Lytton.  Bulwer-Lytton was a successful novelist, poet and playwright.  His political accomplishments included nine years in Parliament, serving as the Briti...

Should speculative ventures be included in calculations of inflation? What about productive investment? Housing? All transactions? Or just consumer prices? ----------WHERE---------- Vurbl: https://bit.ly/3rq4dPn Apple: https://apple.co/3czMcWN Deezer: https://bit.ly/3ndoVPE iHeart: https://ihr.fm/31jq7cI TuneIn: http://tun.in/pjT2Z Castro: https://bit.ly/30DMYza Google: https://bit.ly/3e2Z48M Spot...

The theme of Making Sense Episode 52 is how an environment reacts to an anomaly. Resilient systems keep these aberrations constrained. But fragile ones can retroactively redefine what had earlier been labeled as an "irregularity", "oddity" or "operational error" to something altogether more unsettling: "cause", "spark", "trigger". In part one, Jeff Snider continues his multi-week review of histori...

Michael Pettis of Carnegie Endowment for International Peace. Read by Emil Kalinowski . Art by David Parkins . Intro/outro is " The Village Idiot " by Justnormal at Epidemic Sound . ----------WHAT---------- How Trump’s Tariffs Really Affected the U.S. Job Market: https://bit.ly/2P7qHWJ ----------WHERE---------- Pettis' Writings: https://carnegieendowment.org/experts/444 Pettis' Twitter: https://tw...

Part 01: (01:30 to 38:27) What are monetary technocrats / financiers doing to save the world economy? We review: yield curve control in Australia (and Japan!), American regulators tip-toeing away from a once-favored LIBOR alternative, and the ecstatic economic expectations of German financiers. Part 02: (38:27 to 1:05:19) A Financial Times column warns of a US Treasury Bill air-pocket in March. Le...

After decades of market liberalism and fiscal fundamentalism, policymakers are returning to Keynes.  Jeff Snider reacts to two recent articles: "Bond yields are not good predictors of inflation" (Peterson Institute for International Economics) and "Why economists kept getting the policies wrong" (Financial Times). ----------WHERE---------- Vurbl: https://bit.ly/3rq4dPn Apple: https://apple.co/3czM...

Financial historian Daniel Oliver's essay on the systemic consequence of the 1907 short squeeze on United Copper Company and lessons for today.  A reading, by Emil Kalinowski. ----------WHO---------- Daniel Oliver of Myrmikan Capital, LLC. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alienated" by ELFL at Epidemic Sound. ----------WHAT---------- The Final Pop: https://bit.ly/37sf...

Having studied monetary policy for several years it was only natural that your podcaster spent considerable time contemplating the essential elements of fiction. Some experts say there are five components to it; others put the tally at six, even eight! But at the core it has always been the three elements: plot, setting and character.  Plot was perfected, in the Western tradition at least, in the...

Jeff Snider reacts LIVE! to an article from The Economist . The magazine offers three arguments why the US economy might overheat in 2021: evidence that the downturn is temporary; generous fiscal stimulus; and the Federal Reserve’s monetary-policy strategy. ----------WHERE---------- Vurbl: https://bit.ly/3rq4dPn Apple: https://apple.co/3czMcWN Deezer: https://bit.ly/3ndoVPE iHeart: https://ihr.fm/...

Sophocles won 24 of the 30 literary competitions he entered, placing second in the rest. Of his 120-plus plays, only seven survive. Eratosthenes, calculated the Earth's circumference with breathtaking accuracy. As Chief Librarian of the Library of Alexandria he oversaw the collation of hundreds of thousands of works. But not even his own "On the Measure of the Earth" survived the Library's progres...

As many listeners have long suspected, your podcast host did, as a child, run away and join the circus.  Not dissimilar from a traditional childhood, it was your classic Gypsy camp.  If children misbehaved, we would be "lock[ed]... into stocks, or throw[n]... into a cage and hoist[ed]... into the flytower... dangling precariously over the stage." Our ringmaster, Giuseppe Grimaldi "was horribly mor...

A recent Hidden Forces podcast with Demetri Kofinas featured professor Kevin Vallier and his new book "Trust in a Polarized Age". Vallier notes that Americans are less trusting than at any point since at least the 1960s. The timing is no surprise to any that read William Strauss and Neil Howe's The Fourth Turning. The "American High" - a period of confidence during which the society felt it could...

Mary Toft had delivered a litter of rabbits - that was the news that reached the court of King George I in 1726. Obstetrician John Howard arrived at Toft's bedside in September where he was presented with several animal parts, ostensibly from the supernatural womb. In October, she delivered nine dead baby rabbits, prompting Howard to write a letter to England's greatest doctors and scientists, as...

In the middle of the 17th century, Athanasius Kircher -- "one of Europe’s most successful scholars" -- published "Egyptian Oedipus", a magisterial three-volume folio on Egyptology that "presented Latin translations of hieroglyphic inscriptions". The three-tome folio of ornate illustrations and diagrams was the product of "more than two decades of toil"; it sourced Arabic, Aramaic, Coptic, Ethiopia...

Your podcaster has long been impressed by cinema that presents what is outside the human sensory process; art that conceives and presents what we literally cannot perceive. In 2001: A Space Odyssey, Stanley Kubrik shows us what transcendence is, by sending Keir Dullea through an astral rainbowfall. Christopher Nolan's Interstellar presents Matthew McConaughey in a tesseract, the three-dimensional...

Christine Lagarde, Janet Yellen and Stephanie Kelton are among the world's best known political-economists. Lagarde, was France's Minister of Finance, Managing Director of the International Monetary Fund, and is President of the European Central Bank - all firsts for a lady. Yellen, was America's Chair of the Federal Reserve and is presumptive nominee for US Secretary of the Treasury - each a firs...

“The Case of the Missing Money” is not an Arthur Conan Doyle short-story but instead a 1976 essay by well-known economist Stephen Goldfeld who noticed that there wasn’t enough money to justify the high level of economic activity at that time. Goldfeld explained that money was traditionally a simple function of, “real gross national product, [and] the interest rates on savings and time deposits at...

Part 01: What can the late-19th century Long Depression (1873-96) tell us about the early-21st century Silent Depression (2008-2?)?  We turn to Henry George, the author of the most popular economics book of all time to learn what he got right, got wrong and how it applies to the present. Part 02: An estimated 742,000 Americans submitted initial claims for unemployment insurance in the week ending...

PART 01: US Treasury yields have risen on positive news, especially following the CoVo Vax news from Pfizer. Does it mean reflation has begun? Does it mean the 40-year bond bull market is dead? What do other economic accounts say? PART 02: America's unemployment rate plummeted from 14.7% to 6.9% in six short months! But it's the same 2010-15 mirage. Even the Federal Reserve doesn't believe it - th...

 A social contract is the agreement between government, business, wealthy and ordinary households in how to apportion the costs and benefits of society.  The recently concluded (?) American election comes to mind, as a potential first step towards a new (green?) deal.  In this, the 34th episode of Making Sense, Jeff Snider identifies another, less obvious freshly fashioned contract: China and its...

Broadcasting from the kingdom of NYE, I'm Art Bell and this is Coast to Coast AM from the great beyond.  Tonight we'll talk to General Johnson Jameson from his bunker complex beneath the Saskatchewan crust, as to whether Y2K can still happen.  Then... 'Do you want to believe?!'  The government doesn't want you to. Chris Carter, creator of the X-Files, will tell us exactly which episodes the govern...

The bread of this podcast hotdog features Jeff Snider putting into context how far behind the times monetary authorities are, and that all may not be as it seems with the appreciating Chinese currency.  But the middle, the wiener if you will, is about the unit root. But please! Before you throw your device across the room in disgust rather than listen to yet another podcast about monomial equation...

American economist and New York Times columnist, Paul Krugman entered the economics profession to follow in the footsteps of Hari Seldon, a psychohistorian living on Trantor, approximately 10,000 years into the future.  Seldon, psychohistory and Trantor are all from Isaac Assimov's Foundation series published between 1951 to '53.  Seldon used, "the mathematics of human behaviour to save civilisati...

As your podcaster put the finishing touches on Episode 30 word came down from up-on-high: 'We need to do errata!' Yes!  Finally!  This podcaster's long-time goal would be a reality: to make economics erotic again.  To tell the world that economists can stimulate.  To inform that offshore bankers do it in the shadows.  To broadcast that technical analysis has the best curves with those plunging cha...

Advanced-economy money centers make the world go round.  In the early 1800s London and Paris funded globalization cycles.  Berlin and Vienna joined the exclusive club as the century waned; New York at the start of the next.  Today, East Asia's cities are members, including Singapore and Hong Kong.  But the 800-pound sumo wrestler of the Pacific basin is, and has been, Tokyo.  Some speculate it was...