@@georgerobertson608 haha. Tell me more about the new magic 'private-sector-Fed' that will be created and other magical fantasies that I should just 'believe'. lol
@@georgerobertson608 only the US matters... trust me bro. It only makes up 4% of the world's population but the markets where the other 96% live do not matter.
🤔I think George was saying the FED is more of a cheerleader. I always think back to 2020 when they said they would purchase junk bonds, the markets front ran the FED and actually saved themselves. At the end of the day, the FED made a small purchase to save face but the heavy lifting was done by the markets as always
Certainly. Exchange-Traded Funds (ETFs) are popular for long-term investments due to their diversified nature. ETFs offer exposure to a wide range of assets, such as stocks, bonds, or commodities, which can help reduce risk. Some top choices for long-term investing include broad market index ETFs, sector-specific ETFs, and bond ETFs, as they provide potential for growth and income over an extended period while minimizing the risk associated with individual stocks.
Numerous compelling stocks span various industries for you to consider tracking. While it's not necessary to act on every prediction, enlisting the guidance of a financial advisor is advisable. They can assist you in determining optimal entry and exit points for purchasing and selling shares or ETFs, ensuring well-timed decisions aligned with your investment goals.
Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Deborah up and send her a message. You've truly motivated me. Thank you.
Investor skepticism surrounds the Fed's plan to maintain interest rates until inflation stabilizes. Personally, I'm unsure about investing $150k in my stock portfolio. I seek advice on the optimal strategy for navigating this market.
The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
@@stoneyj1a1if George seems to know what he says you should enlighten us and explain. Other than that George is pure American hubris and flat out denial of the American reality: it's a 3rd word country by plenty of standards, especially standard of living of the average people or like 90% of population.
George- most typical example of American “pseudo-intelligence “ - (I know nothing but can talk a lot) I have ever experienced. 🤕 I am infinitely dumber for having wasted my time listening to any word salad he spewed 😢 Strange how anything George can’t understand - “ doesn’t exist” ! 😮
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families in United States, she's a licensed broker and a FINRA AGENT in United states
TBH, George made a lot of sense in the second half of the interview (and even Mike agrees with him on a lot of points) - to see he didn't make sense is nonsense. Go back and watch.
At 11 minutes in I had no idea what George was talking about. Glad I checked the comments and saved myself 90 minutes. I have seen recent Howell interviews and know his thoughts, so not missing anything skipping the rest
I gotta say, I’m more with Howell on this one. I really enjoyed this format as a fan of Howell and his work because it allowed for a bit of discovery into his process and assumptions. Thank you Jack and Blockworks!
George is that kid in class who forgot to read the book but has to give a book report in front of the class. "Yes, 'A Tale of Two Cities' was about, ummm, two cities. Yes. And ummm... they were really great cities. Awesome cities. Yea."
Given the current economic difficulties that the country is experiencing, how can we enhance our earnings during this period of adjustment? I cannot let my $680k savings vanish after putting in so much effort to accumulate them.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@@stoneyj1a1again, enlighten us and explain George's logic.... forget it, I'll do it for you: George's logic is pure smugness, and yeah, hubris is always logical as it is superficial and supports simplistic arguments. Whenever reality doesn't agree hubris simply denies it.
In the second part of the show, George, Michael, and Jack are saying the long end is discounted as part of Fed policy measures, which Michael is calling liquidity, while George has disagreed that this is a form of easing. Really good interview. The commenters saying that George doesn't make sense are not following his terminology. These are ex Solomon Bros. guys here people.
I would like to see Howell paired with someone up to his caliber of speaking. George may have good arguments, I don’t know enough about economics to say, but it was difficult to follow his chain of logic and his exasperated tone at times wasn’t helping.
Listening to George's smug speech was both painful and a waste of time. He simply got the stock market right out of good luck, the same good luck plenty of people have had to win lottery prices through time. Ultimately, there's always a big price lottery winner all the time. These lottery winners probably think of themselves as very smart, at least George is.
Great interview! One point I wish they had discussed is the role of t-bills as collateral in offshore and shadow banking. More privately held t-bills means more collateral which leads to more lending. That's a plausible mechanism for why both the level and share of t-bills matter.
Excellent debate from both sides of the argument. Very glad that block works hosts such extremely informative debates from such capable articulators of both sides of the argument, including the excellent host moderation and insightful questions. Please keep up the great work of such interviews!
This was fascinating. It shows how complex these topics can be, and how people can derive such vastly different views and opinions. Great pod...I really enjoyed listening to this debate! Also...how awesome would these two guys be in a debate with Janet Yellen and Jerome - let's make that happen! lol..
FOMC = monetary v Congress = Fiscal policy. FOMC QT Rates. Congress Infrastructure and Chips act and COVID relief. The debt will cause stock market to go up = 1 trillion every 100 days.
I can hardly believe someone as smart as Jack Farley give G.R. a voice on his great pod. And didn't interrupt George absurd babble. Jack, please bring in someone credible to debate someone excellent like Michael Howell. G.R. is a clown. Michael Howell was A+ as usual. No comparison.
Mr. Robertson saying RRP isn't a facility even though it is explicitly referred to as such by pretty much everyone = huh? And that liquidity doesn't exist?? C'mon. Ability to roll debt in a massively over levered world is critical to keeping the system afloat. Overall, I'd say Dr. Howell came out the winner of this debate. He's not saying anything new, but his reasoning is clear, actionable, and backed up with plenty of data. It's rare you can say that a 'macro guy' made you money but that is the case with Dr. Howell.
You always need an intellectual argument, George destroys it. It is more American vs non American thing to come up with models and explanations, maybe. You can't unsee what George said(King is powerful, nacked and does what it says). Thanks Jack.
Congress owned by banks. Fed owned by banks. Banks own lend to corporates. Rev repo slush fund for banks sho lose money lending to hedge funds. No hard....liquidity is all.
As someone who watched every one of Jeff Snider’s Eurodollar University YT videos for over a year, George is making identical arguments. This is a fascinating debate.
Ray Dalio of the largest macro hedgefund rarely discusses such arcane notions as liquidity. ...but were to believe its a useful notion because these two guys made a prediction, were lucky enough to be right, and used the word to support their thinking... mmmmhhhmm
Poor work on behalf of blockworks bringing on this guy with Michael Howell unsubscribed , better pair to debate the outlook would be to bring on Michael Howell with David Rosenberg
Japan didn't prove qe doesn't matter. Japan had fiscal deficits but nowhere near the size the u.s. is doing, especially once considering the natural need for higher deficits once the country is built out and population near peak (much lower construction of homes and buildings). The u.s. is completely different and the fed's excessive qe is allowing congress to spend at such a high rate that inflation is bad. Japan never even got close to that. The only reason their debt to gdp is higher is because they hit peak construction investment way before we did and government had to spend more to keep the bubble from collapsing. In contrast, the u.s. is pumping in twice what they need to, causing the bubble to get so big it's almost unfathomable to me that Congress and the fed are allowing this insanity to destroy our once great country. It's making me so ill I can't even keep watching the video to think about it any more. Plus I don't care about stocks and crypto. Teeasuries is all you need to invest in and sleep well at night, with 5% in gold as insurance.
Disgusted by George Robertson as guest. He had little respect for a debate and resorted to posturing rather than use facts. Also it's hard to debate a pseudo-intellectual with facts, blinded by their own hubris. Michael Howell wasted his time with a person who doesn't believe in data.
One of the best shows on the internet and I believe both are arguing the point that our money system is broken. Bitcoin will be the currency and the network of the people's money. In time!!😎👍
It’s hard to be nice sometimes, particularly listening into this character. Someone forgot to tell him the difference between the feds and the treasury. Poor Michael, how did he get paired up with this character?
If I have to 'believe', I prefer Michael as he has something to explain coherently. On the other hand, George only tries to link things that come to his mind as some type of pseudo theory.
Michael has mountains of data to support as well as charts he made decades ago that still correlate, not retro-fitted like george suggests. George presented no hard evidence to me, just thoughts on what "must" be so
Great patience with George. Now lets not waste time with that kind of nonsensical talking out of both sides of mouth again. Where and how can we fade him?
Mrkts went up and down before liquidity but now that central banks stepped in they take away dwnsde risk Seems like it matters now but its still debt to be paid later
Michael is absolutely wrong and has no clue why stock values go up or down. It has nothing to do with liquidity. When somebody buys a stock he has to pay the money to the seller. So, how come this simple relationship has anything to do with liquidity? Seller money goes higher and buyers money goes lower all the time. Why is today 04/19 the stocks crashed? Did something in liquidity change? Only a little. Investors realizing stocks are overvalued is the real explanation!. He has to stop this nonsense and fool so many innocent investors.
What is liquidity? According to George, there is no such thing. Liquidity is an attribute of sources of capital and flows in the financial system. Bickering over a figure of speech is ridiculous and a waste of time. Words are tools for communicating. The question is why do we say liquidity. Start there, then you might have a chance in hell of actually making sense in George's case, whose view and bias is U.S. centric. That alone is old world thinking about the bond market, which puts him in a position of having to deny the effect of monetary inflation at the extreme.
The core of the issues with george’s argument is the fact that he views the US financial system as a completely closed system. “ there is no funding of the US Government.” Wow
Jack you are the GOAT. Love Michael Howell. Really was interested to hear George because I like out of the box perspectives, but it's hard to understand what he is trying to say. Sometimes I think there might be something there, and other times he seems to just get flustered people are not agreeing. Would love to see someone like Dr. Lacy Hunt instead discuss with Michael Howell. If I could see a dream discussion it would be Dr. Lacy Hunt and Joseph Wang. I really hope something like that happens.
I was just thinking about the guy who was so ... on Blockworks Macro with Jack yesterday wondering who he was and what interview was that again!!! How is that possible!!! And here he is today and hence I got my answer. The world works in mysterious ways. Would love for them to have follow up discussion where they bring rigour, data and charts to the discussion for further conversation and clarity to the viewers!!! Would be highly entertaining and provocative for learning purposes!
