Tagged: PBOC

You gets what you pays for

Reuters’ story that SAFE told its banks they should be as obstructive as possible in meeting customer demands for foreign currency, but should absolute not divulge the reason why, certainly succeeded in causing a stir in markets.    Continue reading

MMM Approach

At root, MMM is based on the belief that the Credit Cycle is the Business Cycle; that fluctuations in money and credit are what give rise to instabilities in economies. It is our lot to live in a period where the checks and balances on such turbulence are much less robust than ever before; one where the deliberate violation of such restraint as does remain has become the very goal of active policy. To try to understand the interplay between money, asset markets, and the real world is the crux of what we do.

There is not much here that is a dull repetition of the mainstream economics practised so widely today. It may be a strange confession for the author of a publication called ‘Money, Macro & Markets’, but we like to start thinking about things from the individual perspective before working upwards to the collective – from micro to macro as it were. No spurious pseudo-science, just the rigorous application of logic tempered in the forge of experience.

For more detail, please download the Intro:-

16-04-28 MMM Approach

MMM Archive

Regular readers will know that the articles published here are but a small subset of the detailed work I undertake to analyse economic and political developments and their effects on markets. In order to give some idea of the scope of this, presented below is an archive of past issues of the Austrian School-informed, in-depth monthly publication, ‘Money, Macro & Markets’ in addition to which I compile twice monthly updates as the ‘Midweek Macro Musings’ which are also made available on a complimentary basis to subscribers to the former letter.

September 2016 – US equity (over)valuation: Eurozone policy overkill: Japan’s dire fiscal status

16-09-29 MMM Sept Issue

July 2016 – Liquidity traps: Post-Brexit UK: Chinese credit

16-07-20 MMM July Issue

June 2016 – US Labour Market: Productivity Unpuzzled

16-06-20 MMM June Issue

May 2016 – IMF Ship of Fools: China the Next Sucker

16-05-12 MMM May-Issue

April 2016 – UK deficit – Fred Karney’s Circus: China’s Drain: US – All in Order

16-04-11 MMM Apr Issue

March 2016 – ECB Overkill: The Farm Patch goes Oil Patch: Beijing Fingers in the Dam: Drilling Down

16-03-10 MMM Mar Issue

February 2016 – China Hopium Wars: USA Top-end Teetering: Saudi’s Empty Quarters: Is Cheap Oil Good?

16-02-10 MMM Feb Issue

January 2016 – China promises reform (again): The Fed finally does it: Carney sees no signal: ECB running out of debtors

16-01-12 MMM Jan Issue

November 2015 – Hocus Pocus: UK Sells the Family Silver to Europe: USA ABCT: China JIitters

15-11-11 MMM Nov Issue

October 2015 – Against Stupidity: Tail-chasing at the Fed: Lipstick on the Chinese Pig: Stocks (& Bonds) for the Long Run

15-10-12 MMM Oct Issue

September 2015 – Mississippi Bubble Chinese-style: Reserves & Repos Cheatsheet: Shuddup, already!

15-09-01 MMM Sep Issue

August 2015 – China’s Fake Boom: FRB Wash, Spin, Repeat: UK World per capita Deficit Champs: Euro Money Explosion: Real Commodities still not cheap

15-07-30 MMM Aug Issue

July 2015 – China & the Water(ed) Margin: Spending the Swiss Hoards: Behind the Fed Curve: CPI Mania goes Global: US Equity Valuations

15-07-30 MMM July Issue

June 2015 – China Running to Stand Still: USA Fewer Grasshoppers per Ant: UK New Regime, Old problems: Europe’s Rational(ized) Bubble

15-07-30 MMM June Issue

For subscription details, please refer to the HindeSight Letters page.

Money, Macro & Markets – The Archive

Regular readers will know that the articles published here are but a small subset of the detailed work I undertake to analyse economic and political developments and their effects on markets. In order to give some idea of the scope of this, presented below is an archive of past issues of the Austrian School-informed, in-depth monthly publication, ‘Money, Macro & Markets’ in addition to which I compile twice monthly updates as the ‘Midweek Macro Musings’ which are also made available on a complimentary basis to subscribers to the former letter.

Continue reading