Podcasts about Deflation

I'm excited to share something I've negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER' or filling out the form on the page I've linked below.All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don't miss out!The macro situation is worse this summer compared to last summer, so where's Japan's carry trade? If the July 2024 jobs report provoked a violent financial backlash, you'd think the July 2025 version would have, too. The fact it didn't points to several key developments, important warnings from JPY and JGBs. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUThis video was sponsored by Glint. Graphic representations of value are for illustrative purposes only. The Glint Debit card is issued by Sutton Bank, Member FDIC. The sale, purchase and storage of precious metals are offered by Glint, and not Sutton Bank. Your investment in precious metals through Glint is:-Not insured by the FDIC.-Not a deposit or other obligation of, or guaranteed by, Sutton Bank.-Subject to investment risks, including the possible risk of loss of the principal amount invested.All investments involve risk, including possible loss of principal. The value of precious metals is affected by many economic factors, including but not limited to the current market price, demand, perceived scarcity, and quality of the precious metal.  Precious metals can increase or decrease in value. Past performance is not a guarantee of future results. As such, investing in precious metals may not be suitable for everyone.Glint Pay Inc. is a U.S. based authorized Card Program Manager, not a bank. Banking services are provided by our partner Sutton Bank, Member FDIC. Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.

I'm excited to share something I've negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER' or filling out the form on the page I've linked below.All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don't miss out!Both McDonald's and Wendy's reported this past week that more Americans are skipping breakfast, not for some health fad but increasingly harsh economic circumstances. That view was further corroborated by the Fed which showed credit card usage fell again for the second straight time, a critical cyclical signal confirming the swing in the consumer economy. So, another Fed official tilts toward rate cuts. Eurodollar University's Money & Macro AnalysisBloomberg Fast-Food Breakfast Sales Fade as Diners Eat at Home, Skip Mealshttps://www.bloomberg.com/news/articles/2025-08-08/fast-food-breakfast-sales-fade-as-diners-eat-at-home-skip-mealsReuters Fed's Musalem: There are risks now to both the inflation and jobs goalshttps://www.reuters.com/business/feds-musalem-there-are-risks-now-both-inflation-jobs-goals-2025-08-08/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUThis video was sponsored by Glint. Graphic representations of value are for illustrative purposes only. The Glint Debit card is issued by Sutton Bank, Member FDIC. The sale, purchase and storage of precious metals are offered by Glint, and not Sutton Bank. Your investment in precious metals through Glint is:-Not insured by the FDIC.-Not a deposit or other obligation of, or guaranteed by, Sutton Bank.-Subject to investment risks, including the possible risk of loss of the principal amount invested.All investments involve risk, including possible loss of principal. The value of precious metals is affected by many economic factors, including but not limited to the current market price, demand, perceived scarcity, and quality of the precious metal.  Precious metals can increase or decrease in value. Past performance is not a guarantee of future results. As such, investing in precious metals may not be suitable for everyone.Glint Pay Inc. is a U.S. based authorized Card Program Manager, not a bank. Banking services are provided by our partner Sutton Bank, Member FDIC. Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.

With Monetary Metals, you don't just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownershipYou can learn more here  http://www.monetary-metals.com/Snider/The July jobs report has sparked an overdue reexamination of a bunch of "truths" everyone has simply take for granted: inflation is the biggest risk, bonds are being rejected because of debt, etc. Goldman Sachs finally decided to check that actual yield curve and was utterly shocked to find zero interest rates all over it. Eurodollar University's conversation w/Steve Van MetreBloomberg Goldman Sachs Says US Yield-Curve Shape Looks Like Zero-Rate Erahttps://www.bloomberg.com/news/articles/2025-08-06/goldman-sachs-says-us-yield-curve-shape-looks-like-zero-rate-erahttps://www.eurodollar.universityTwitter/X: https://x.com/JeffSnider_EDU

I'm excited to share something I've negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER' or filling out the form on the page I've linked below.All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don't miss out!This had never happened before, an unprecedented vote for the Bank of England's Monetary Policy Committee. Despite it, the Pringles can remains undeterred since this is what rate cutting cycles are. The destination remains the same and another drop in employment in the UK as well as France further proves it. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUThis video was sponsored by Glint. Graphic representations of value are for illustrative purposes only. The Glint Debit card is issued by Sutton Bank, Member FDIC. The sale, purchase and storage of precious metals are offered by Glint, and not Sutton Bank. Your investment in precious metals through Glint is:-Not insured by the FDIC.-Not a deposit or other obligation of, or guaranteed by, Sutton Bank.-Subject to investment risks, including the possible risk of loss of the principal amount invested.All investments involve risk, including possible loss of principal. The value of precious metals is affected by many economic factors, including but not limited to the current market price, demand, perceived scarcity, and quality of the precious metal.  Precious metals can increase or decrease in value. Past performance is not a guarantee of future results. As such, investing in precious metals may not be suitable for everyone.Glint Pay Inc. is a U.S. based authorized Card Program Manager, not a bank. Banking services are provided by our partner Sutton Bank, Member FDIC. Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3239: JL Collins unpacks the dangerous dance between deflation and economic depression, exploring why falling prices, often seen as beneficial, can spiral into devastating financial collapse. With clarity and insight, he reveals how deflation affects debt, spending, and investing, offering a sober reminder of its historical consequences and why understanding it is critical for financial resilience. Read along with the original article(s) here: https://jlcollinsnh.com/2012/12/11/stocks-part-xiv-deflation-the-ugly-escort-of-depressions-2/ Quotes to ponder: "Deflation makes debt more expensive. In a deflationary environment, the dollars you use to pay back your debts are worth more than the dollars you borrowed." "When people expect prices to fall, they tend to put off buying. Why buy now when it will be cheaper later?" "Deflation leads to economic depression because it puts the brakes on spending, investing, borrowing, and lending." Episode references: When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany: https://www.amazon.com/When-Money-Dies-Nightmare-Hyper-Inflation/dp/1586489941 The Great Depression: A Diary: https://www.amazon.com/Great-Depression-Diary-Benjamin-Roth/dp/1586489011 This Time Is Different: Eight Centuries of Financial Folly: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640 Learn more about your ad choices. Visit megaphone.fm/adchoices

I'm excited to share something I've negotiated for you guys: you can now get a Glint Card for FREE (normally $10) just by registering with my code ‘SNIDER' or filling out the form on the page I've linked below.All the details and more about Glint are at https://partner.glintpay.com/eurodollar/. Don't miss out!Everything continues to point directly toward much lower rates, including what is setting up to be a repeat of last summer. As Steve and I said a few days ago in the wake of the unambiguously bad jobs report, watch the market and the Fed speakers this week. It's been only two days and they're doing just what we thought they would, putting the FOMC back on the road swaps paved for a fifty in September. Eurodollar University's Money & Macro AnalysisReuters Exclusive: Fed's Daly says time is nearing for rate cuts, may need more than twohttps://www.reuters.com/business/feds-daly-says-time-is-nearing-rate-cuts-may-need-more-than-two-2025-08-04/Dow Jones Kashkari leans toward rate cut as concerns about an economic slowdown grow at the Fedhttps://www.morningstar.com/news/marketwatch/20250806162/kashkari-leans-toward-rate-cut-as-concerns-about-an-economic-slowdown-grow-at-the-fedBloomberg Fed's Kashkari Says Rate Cut May Be Appropriate in Near Termhttps://www.bloomberg.com/news/articles/2025-08-06/fed-s-kashkari-says-rate-cut-may-be-appropriate-in-near-termBloomberg Bets on Fed Rate Cuts Are Sweeping Through US Bond Markethttps://www.bloomberg.com/news/articles/2025-08-05/bets-on-fed-rate-cuts-are-sweeping-through-the-us-bond-marketBloomberg Trump Says He Will Decide on Fed Governor Before End of the Weekhttps://www.bloomberg.com/news/articles/2025-08-05/trump-says-he-will-decide-on-fed-governor-before-end-of-the-weekhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUThis video was sponsored by Glint. Graphic representations of value are for illustrative purposes only. The Glint Debit card is issued by Sutton Bank, Member FDIC. The sale, purchase and storage of precious metals are offered by Glint, and not Sutton Bank. Your investment in precious metals through Glint is:-Not insured by the FDIC.-Not a deposit or other obligation of, or guaranteed by, Sutton Bank.-Subject to investment risks, including the possible risk of loss of the principal amount invested.All investments involve risk, including possible loss of principal. The value of precious metals is affected by many economic factors, including but not limited to the current market price, demand, perceived scarcity, and quality of the precious metal.  Precious metals can increase or decrease in value. Past performance is not a guarantee of future results. As such, investing in precious metals may not be suitable for everyone.Glint Pay Inc. is a U.S. based authorized Card Program Manager, not a bank. Banking services are provided by our partner Sutton Bank, Member FDIC. Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3239: JL Collins unpacks the dangerous dance between deflation and economic depression, exploring why falling prices, often seen as beneficial, can spiral into devastating financial collapse. With clarity and insight, he reveals how deflation affects debt, spending, and investing, offering a sober reminder of its historical consequences and why understanding it is critical for financial resilience. Read along with the original article(s) here: https://jlcollinsnh.com/2012/12/11/stocks-part-xiv-deflation-the-ugly-escort-of-depressions-2/ Quotes to ponder: "Deflation makes debt more expensive. In a deflationary environment, the dollars you use to pay back your debts are worth more than the dollars you borrowed." "When people expect prices to fall, they tend to put off buying. Why buy now when it will be cheaper later?" "Deflation leads to economic depression because it puts the brakes on spending, investing, borrowing, and lending." Episode references: When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany: https://www.amazon.com/When-Money-Dies-Nightmare-Hyper-Inflation/dp/1586489941 The Great Depression: A Diary: https://www.amazon.com/Great-Depression-Diary-Benjamin-Roth/dp/1586489011 This Time Is Different: Eight Centuries of Financial Folly: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640 Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3239: JL Collins unpacks the dangerous dance between deflation and economic depression, exploring why falling prices, often seen as beneficial, can spiral into devastating financial collapse. With clarity and insight, he reveals how deflation affects debt, spending, and investing, offering a sober reminder of its historical consequences and why understanding it is critical for financial resilience. Read along with the original article(s) here: https://jlcollinsnh.com/2012/12/11/stocks-part-xiv-deflation-the-ugly-escort-of-depressions-2/ Quotes to ponder: "Deflation makes debt more expensive. In a deflationary environment, the dollars you use to pay back your debts are worth more than the dollars you borrowed." "When people expect prices to fall, they tend to put off buying. Why buy now when it will be cheaper later?" "Deflation leads to economic depression because it puts the brakes on spending, investing, borrowing, and lending." Episode references: When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany: https://www.amazon.com/When-Money-Dies-Nightmare-Hyper-Inflation/dp/1586489941 The Great Depression: A Diary: https://www.amazon.com/Great-Depression-Diary-Benjamin-Roth/dp/1586489011 This Time Is Different: Eight Centuries of Financial Folly: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640 Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Reserve reported a record increase in student loan delinquencies to go with high rates of souring household loans in credit cards and auto lending. The distress is another confirmation of macro deterioration starting with jobs and incomes. And that's just what the latest major economic release on US services showed today -- another alarming drop for employment. Eurodollar University's Money & Macro Analysis*****EDU's One Big Weekly Thinghttps://eurodollaruniversity.substack.com/*****https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Huge moves at the front part of the interest rate curve. Bills did something we haven't seen since April. Meanwhile, forward rates reacted to Friday's payroll numbers with crisis-level hedging and then held those prices today. Why? Simple: payrolls were the last of it. Eurodollar University's Money & Macro Analysis*****With Monetary Metals, you don't just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownershipYou can learn more here  http://www.monetary-metals.com/Snider/*****Bloomberg Job Market Healthy Despite ‘Disappointing' Report, Fed's Hammack Sayshttps://www.bloomberg.com/news/articles/2025-08-01/fed-s-hammack-says-job-market-healthy-despite-disappointing-datahttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Daniel talks about how the Chinese policymakers are adding supply side reforms, and combining with existing demand stimulus, in order to boost PPI and inflation.Speaker:  - Daniel Lam, Head of Equity Strategy, Standard Chartered Bank For more of our latest market insights, visit Market views on-the-go or subscribe to Standard Chartered Wealth Insights on YouTube.

Die Schweiz fährt einen Sonderkurs: stabile Wirtschaft, Deflation, 0 % Leitzins. Katarina Ivankovic und Dr. Peter Hettenbach analysieren, welche Effekte das auf den Immobilienmarkt in der Grenzregion hat – und warum der Traum vom günstigen Schweizer Kredit für viele unrealistisch bleibt. Hosted on Acast. See acast.com/privacy for more information.

With Monetary Metals, you don't just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownershipYou can learn more here  http://www.monetary-metals.com/Snider/After a crazy week with everything else going on, copper's historic plunge almost flew under everyone's radar. But now with copper prices getting beyond tariff distortions, settling back in to the fundamentals revealed a shocking development - one that absolutely fits with everything else for the week, especially the payroll disaster. Eurodollar University's weekly conversation w/Steve Van Metrehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

*****To sign up and get started with GlintPay, go to glintpay.com and make sure to use the code SNIDER.*****The dollar is surging again. And while it's primary the euro taking the other side, just as importantly, if not more importantly, currencies like the rupee are tanking worse. INR hit another record low and that along with the euro's sharp reverse is a canary singing in the eurodollar coalmine...perhaps gasping. Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, joins Julia La Roche in-studio on Fed day to analyze the historic FOMC meeting featuring the first double dissent since 1993, arguing it could have been a triple dissent based on softened statement language. She criticizes Powell's dismissive handling of the dissenters and Trump's public attacks on the Fed chair, warning of an "Armageddon scenario" if Trump continues his pressure campaign. DiMartino Booth presents data showing the US entered recession in Q2 2024, with job losses, rising underemployment, and deflation in key sectors like hotels and airlines. She argues Powell could secure his legacy by admitting he's wrong about the job market being "solid" when data shows jobs are increasingly hard to get.Sponsors:  Monetary Metals: https://monetary-metals.com/julia⁠ Kalshi: ⁠https://kalshi.com/julia  Links:    Danielle's Twitter/X: https://twitter.com/dimartinobooth  Substack: https://dimartinobooth.substack.com/ YouTube: https://www.youtube.com/@UCYPBim2ARV9Yrqci0ljokFA  Fed Up: https://www.amazon.com/Fed-Up-Insiders-Federal-Reserve/dp/07352116550:00 Welcome and introduction - FOMC day reaction1:05 Historic double dissent - first since 19933:04 History of Fed dissents - why they disappeared after 19966:48 Powell's dismissive handling of dissenters8:26 Why dissents should be healthy for Fed decision-making9:23 Trump's embarrassing public beratement of Powell10:52 The Armageddon scenario - what happens if Trump pushes too hard13:13 Will Powell stay? Hell would freeze over before he leaves15:00 Powell's path to securing his Fed legacy16:40 Jobs hard to get rises to highest of cycle - 18.9%17:26 US economy entered recession in Q2 202419:13 Deflation signals - hotel revenues and airline travel down20:25 Core PCE market-based pricing is negative 0.3%21:23 Gig economy collapse - Uber drivers earning 60% less22:41 Biggest risk - Fed's tone deafness to job market reality

With Monetary Metals, you don't just hold gold, you earn a real yield on it, paid monthly in physical gold, without ever giving up ownershipYou can learn more here  http://www.monetary-metals.com/Snider/******Eurodollar University's One Big Thing Weeklyhttps://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******Housing prices slid even farther in May, echoing previous data which has shown material weakness all across US real estate markets. The source of this downturn in housing isn't interest rates whatsoever. The rest of the days data showed instead where this is really coming from, starting with some truly grim results where it counts the most: hiring. Eurodollar University's Money & Macro AnalysisBloomberg US Housing Market Posts Worst Spring Selling Season in 13 Yearshttps://www.bloomberg.com/news/articles/2025-07-28/us-real-estate-market-high-prices-mortgage-rates-hamper-spring-home-sellingBloomberg US Job Openings Fall to 7.44 Million After Back-to-Back Jumpshttps://www.bloomberg.com/news/articles/2025-07-29/us-job-openings-fall-to-7-44-million-after-back-to-back-jumpsBloomberg Even Top Earners Are Falling Behind on Credit Card and Car Paymentshttps://www.bloomberg.com/news/articles/2025-07-29/credit-cards-car-loans-see-defaults-from-high-earners-in-hit-to-economyConference Board Consumer Confidence July 2025https://www.conference-board.org/topics/consumer-confidence/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Zimele Mbanjwa from FNB Wealth & Investments breaks down Kumba Iron Ore's results and the latest from Boxer. Luno's Christo de Wit unpacks their upcoming tokenised offshore stock listings. Satrix's Nico Katzke weighs in: Is autonomous investing the future – or just hype?

The supply glut was never canceled. Almost everyone and every part of the oil market remains convinced it is happening, the potential weighing on prices and movements even if occasionally geopolitics gains control over short run periods. Important macro updates from Ireland to India further prove why the glut isn't being led by global supply. And if it wasn't enough sharp declines in US usage help clear it up even more. Eurodollar University's Money & Macro Analysis******Eurodollar University's One Big Thing Weeklyhttps://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******Total Energies Q2 Reporthttps://totalenergies.com/system/files/documents/totalenergies_2Q25-results-press-release_2025_en.pdfBloomberg Oil Caught Between a $70 Summer and Growing Surplus Fearshttps://www.bloomberg.com/news/articles/2025-07-27/oil-prices-caught-between-a-70-summer-and-growing-surplus-fearsBloomberg Ireland's Economy Just Shrank for the First Time Since 2023https://www.bloomberg.com/news/articles/2025-07-28/ireland-s-economy-just-shrank-for-the-first-time-since-2023Bloomberg India Warns of Trade Risks Amid Trump Tariffs, Global Slowdownhttps://www.bloomberg.com/news/articles/2025-07-28/india-warns-of-trade-risks-amid-trump-tariffs-global-slowdownReuters China's industrial profits fall further in Junehttps://www.reuters.com/world/china/chinas-industrial-profits-fall-further-june-2025-07-27/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The JGB curve isn't behaving the way it "should", nor is that behavior universal to the entire curve. Not only that, similar patterns are playing out in US$ forward markets like term SOFR futures. Each of these curves are pricing therefore predicting the same general set of future outcomes, and, wildly enough, enormous difficulties in figuring out how and when to get there because of the same reason. Eurodollar University's conversation w/Steve Van Metre********If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/********https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Assuming the economy continues its downturn as all the major markets are pricing, what would that look like and what should we be looking for? That leads into the question of how deflationary money becomes a deflationary or depression economy in the first place. That means we need to examine economic mechanisms. Eurodollar University's Make It Make Sense******Eurodollar University's One Big Thing Weeklyhttps://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

June housing data is in...and it is looking worse for real estate in the US. The Florida market is leading the way. Everyone is blaming "historically high rates" for the growing bust. Not only is that demonstrably false, the real reason has broad implications for interest rates and a lot more.  Eurodollar University's Money & Macro Analysis******If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/************https://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******NAR Existing-Home Sales Report Shows 2.7% Decrease in Junehttps://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-2-7-decrease-in-juneNewsweek Map Shows Where Florida House Prices Are Dropping Fastesthttps://www.newsweek.com/map-where-florida-house-prices-dropping-fastest-2099013Newsweek Florida Housing Market Doing Something 'Unusual' in Multiple Citieshttps://www.newsweek.com/florida-housing-market-doing-something-unusual-multiple-cities-2094174WUSF 'Nothing's falling off the cliff': A look into Florida's real estate market, slowdown of home saleshttps://www.wusf.org/the-florida-roundup/2025-06-16/a-look-into-florida-real-estate-markethttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The ECB's latest Bank Lending Survey (BLS) adds more evidence to the behavior we've already been chronicling from among Europe's and the world's financial institutions. They are increasingly negative on especially consumers. We know what that means, too: jobs. Eurodollar University's Money & Macro Analysis******https://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******ECB Second Quarter 2025 Bank Lending Survey https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250722~17414c3656.en.htmlWorld Bank Global Economy Set for Weakest Run Since 2008 Outside of Recessionshttps://www.worldbank.org/en/news/press-release/2025/06/10/global-economic-prospects-june-2025-press-releasehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

PREVIEW: PRC ECONOMY Colleague Anne Stevenson-Yang comments that the CCP has distorted trade leading to debt and deflation and worse. [MORE] 1968

There are reports HK bankers are already informally discussing how to structure a "bad bank." Earlier today, other reports said monetary authorities in Hong Kong were circulating the "crisis letter." The situation has taken a turn for the serious, a warning to the rest of the world because what HK is trying desperately to come to grips with is the same major problem as everyone else has, where the bubbles and now busts came from in the first place. Eurodollar University's Money & Macro Analysis******https://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******HKMA's "Crisis Letter"https://www.hkma.gov.hk/media/eng/publication-and-research/reference-materials/banking/fa03.pdfBloomberg Hong Kong Regulators Revive Crisis Playbook to Rescue Landlordshttps://www.bloomberg.com/news/newsletters/2025-07-22/hong-kong-regulators-revive-crisis-playbook-to-rescue-landlordsBloomberg Hong Kong's $25 Billion Pile of Soured Debt Spurs Talks to Form ‘Bad Bank'https://www.bloomberg.com/news/articles/2025-07-16/hong-kong-s-25-billion-debt-woe-sparks-talks-on-bad-bankFitch Lower HIBOR May Not Fully Address Hong Kong Banks' Asset Quality Pressurehttps://www.fitchratings.com/research/banks/lower-hibor-may-not-fully-address-hong-kong-banks-asset-quality-pressure-19-05-2025HIBOR rateshttps://www.hkab.org.hk/en/rates/hiborhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Payback is finally here? The implications of the latest report on trade suggest we're finally moving far enough away from all the recent distortions to gain a better sense of whether this really is the "main event." One of those warns trade volumes might crash from here. Plus, another critical forward-leaning measure just flashed a recession signal. All of which consistent with market positions. Eurodollar University's Money & Macro Analysis******If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/************https://eurodollaruniversity.substack.com/Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale******Bloomberg US Container Volumes Set for Sharp Reversal on Tariff Disruptionhttps://www.bloomberg.com/news/articles/2025-07-21/us-container-volumes-set-for-sharp-reversal-on-tariff-disruptionCNBC Port of Los Angeles sees record container traffic as shippers race to beat Trump's tariff deadlineshttps://www.cnbc.com/2025/07/14/port-of-los-angeles-record-container-traffic-trade-war-shipping-tariffs.htmlCNBC In middle of Trump's trade war, importers hold more cash and move inventory off the bookshttps://www.cnbc.com/2025/07/14/trump-trade-war-tariffs-supply-chain-inventory-cash.htmlCNBC Online shopping sees biggest slowdown in over decade as tariffs disrupt e-commerce: Surveyhttps://www.cnbc.com/2025/07/01/online-retail-sees-biggest-slowdown-in-decade-tariffs-hit-e-commerce.htmlBloomberg Bessent Says Fed ‘A Little Off,' Flags Signal From Two-Year Ratehttps://www.bloomberg.com/news/articles/2025-07-03/bessent-says-fed-a-little-off-flags-signal-from-two-year-ratehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Moody's latest report on credit market dynamics showed a significant increase in the number of distressed borrowers, primarily those relating to private equity. In addition, bank stats show that while everyone else has forgotten about commercial real estate and its underlying bust, domestic banks have not and have been quietly yet persistently reducing their exposures to it. Participants in both sectors are following the same rule of thumb: avoid defaults at all costs. Eurodollar University's conversation w/Steve Van Metre ******EDU Memberships Anniversary Salehttps://www.eurodollar.university/sale******Bloomberg Fed's Waller Hints at July Dissent as He Makes Case for Rate Cuthttps://www.bloomberg.com/news/articles/2025-07-18/fed-s-waller-says-private-sector-job-worries-drive-rate-cut-callBloomberg Waller Says Fed Should Cut Rates Now With Labor Market on Edgehttps://www.bloomberg.com/news/articles/2025-07-17/waller-says-fed-should-cut-rates-now-with-labor-market-on-edgehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Two major markets, two VERY different conclusions and outlooks. The diverging views and prices revolve around what really happened in April. Was it a one-off overreaction to tariffs? Or was the deflation confirmation of more than just potential volatility? Both markets are doubling and tripling down on their separate views, each reaching record or near-record levels for them. Eurodollar University's Money & Macro Analysis******If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/************Eurodollar University's Anniversary Salehttps://www.eurodollar.university/sale************Eurodollar University July 10 Webinar Replayhttps://event.webinarjam.com/go/replay/29/3y5kpclzi20tz1t5******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Only a week after the Reserve Bank of Australia decided to pause its rate cutting series, the Australian government reported a rash of exceptionally weak labor data, including the highest unemployment rate for the country in four years. RBA wasn't alone; the Bank of England is finding out the same in the same hard way. Central bank rate cut pauses aren't unusual, and they almost always end just like this.  Eurodollar University's Money & Macro Analysis******If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/******ONS UK CPI June 2025https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/june2025Bloomberg UK Unemployment Increases to 4.7%, Highest Rate in Four Yearshttps://www.bloomberg.com/news/articles/2025-07-17/uk-firms-cut-jobs-wage-growth-slows-in-cooling-labor-markethttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Three months ago, hotel operators were confident that the consumer downturn they were experiencing would end being a relatively quick pain. After the tariff matter was finally settled, Americans would sure go back to spending as they always seemed to. Instead, a whole bunch of critical and alarming data out just today has poured oceans of deflationary cold water on the recovery hope. Eurodollar University's Money & Macro AnalysisReuters Hilton cuts 2025 revenue growth forecast as US travel demand softenshttps://www.reuters.com/business/hilton-cuts-2025-revenue-growth-forecast-economic-uncertainty-weighs-2025-04-29/PRNewswire WYNDHAM HOTELS & RESORTS REPORTS STRONG FIRST QUARTER RESULTShttps://www.prnewswire.com/news-releases/wyndham-hotels--resorts-reports-strong-first-quarter-results-302442939.htmlWyndham lowers 2025 RevPAR expectations amid dampened consumer sentimenthttps://www.hoteldive.com/news/wyndham-q1-2025-earnings-lower-revpar/746863/YahooFinance United, American, Southwest all surge after Delta's outlook lifts fortunes for US airlineshttps://finance.yahoo.com/news/united-american-southwest-all-surge-after-deltas-outlook-lifts-fortunes-for-us-airlines-144400677.htmlBloomberg US Producer Prices Stagnated on Decline in Services Costshttps://www.bloomberg.com/news/articles/2025-07-16/us-producer-prices-stagnated-on-decline-in-services-costshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

PRC: AND DEFLATION.  ANDREW COLLIER, @GORDONGCHANG, GATESTONE, NEWSWEEK, THE HILL 1860

Five months and little to show for it. Tariffs have been applied for that long, yet consumer prices remain suspiciously tame. The real story isn't the possible pass-through of trade duties, its why that isn't happening on a far broader basis. We got more evidence for why from American bank balance sheets. Eurodollar University's Money & Macro AnalysisBLS June 2025 CPIhttps://www.bls.gov/news.release/cpi.htmBloomberg US Core CPI Rises Less Than Expected Again Despite Tariff Impacthttps://www.bloomberg.com/news/articles/2025-07-15/us-core-cpi-rises-less-than-expected-for-a-fifth-straight-monthBloomberg US 30-Year Yield Tops 5% as Traders Pare Bets on Rate Cutshttps://www.bloomberg.com/news/articles/2025-07-15/treasuries-gain-after-inflation-report-meets-economists-forecasthttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Jamie Dimon, CEO of JP Morgan, had some very harsh words and a pointed warning. He said the world was at high risk from tariffs. And while the activities of "his" bank largely agree with the high degree of risk, it's the complete opposite from what Dimon said publicly. This is not the first time this has happened, either. When the risks are greatest, JPM's CEO says one thing while JPM itself does the opposite. Eurodollar University's Money & Macro Analysis*****If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/*****JP Morgan letter to shareholders April 2024https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/ceo-letter-to-shareholders-2023.pdfJP Morgan second quarter 2024 press statementhttps://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2024/2nd-quarter/36a0b862-cc80-4e28-bf1b-5cfa07dc9637.pdfBloomberg JPMorgan's Dimon Warns Markets Are Complacent on Tariffshttps://www.bloomberg.com/news/articles/2025-07-10/dimon-says-an-eu-us-tariff-framework-needs-to-get-doneBloomberg Dimon Says Prepare for 4% Yields, Potential Volatility Risehttps://www.bloomberg.com/news/articles/2018-05-08/dimon-says-prepare-for-4-yields-sees-potential-volatility-riseCNBC Jamie Dimon cautions the 10-year Treasury yield could hit 5%: ‘It's a higher probability than most people think'https://www.cnbc.com/2018/08/06/jp-morgans-jamie-dimon-cautions-10-year-treasury-note-rate-to-hit-5-percent.htmlBloomberg Weakest U.S. Bond Auction in Decade Validates Dimon's Warninghttps://www.bloomberg.com/news/articles/2019-05-08/low-yield-bad-seasonals-and-trade-trip-up-u-s-10-year-auctionhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Asia is suddenly awash in deflation. Japan is now experiencing it. And while not necessarily new for China, the acceleration downward to producer prices hints at deterioration in demand, overseas as well as locally. It's become a big enough change the government in Beijing crucially appears to shifting its own economic focus, a potentially profound worldwide signal. Oh, and Jamie Dimon.Eurodollar University's conversations w/Steve Van Metrehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

In this episode, I chat with Jesse Myers, a Bitcoin strategy advisor and the author of the essay Once-in-a-Species. He shares deep excitement for Bitcoin treasury companies and how they might be the gateway for TradFi capital to enter Bitcoin at scale. We also dive deep into the evolutionary roots of money and how the innate human drive for scarcity laid the groundwork for the concept of money, civilization itself, and ultimately Bitcoin as the perfection of scarcity. ––– Offers & Discounts ––– Theya is the world's simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ ––– Get To Know Today's Guest ––– • Jesse Myers on X: https://x.com/Croesus_BTC • Once-in -species Essay: https://www.onceinaspecies.com/p/once-in-a-species-73b ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com • Follow Cedric Youngelman on X: https://x.com/cedyoungelman • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs ––– Chapters ––– 00:00 - Intro 01:04 - Jesse's Bitcoin Journey  02:03 - “Once in a Species”: What Inspired the Essay  02:53 - Nick Szabo, Shell Beads & Proto-Money  05:57 - Jesse's Academic Background: From Neuroscience to Bitcoin  06:58 - Art, Humanity & Neanderthals  09:05 - Who Were the Neanderthals?  13:48 - Why Did Homo Sapiens Triumph?  16:55 - Victorian & Modern Theories on Neanderthals  20:22 - Current Academia's View vs Austrian Economics  24:04 - The Hidden Economic Purpose of Shell Beads  28:23 - Brain Science & Scarcity: The TKTL1 Mutation  31:45 - Symbolic Thought: Neanderthals vs Homo Sapiens  34:38 - Population Density & Dunbar's Number  38:46 - Money as a Social Efficiency Multiplier  43:14 - From Tribalism to Civilization Through Trade  48:28 - Reading Excerpt: Scarcity as the Root of Human Flourishing  50:16 - Lessons from the Past for Bitcoin's Future  56:22 - Bitcoin: The Invention of Perfect Scarcity  01:00:50 - How Bitcoin Changes Civilization  01:05:38 - Deflation, Craftsmanship & Cultural Flywheels  01:07:39 - Closing Thoughts: Scarcity, Collectibles & Civilization  01:11:35 - What's Next: Bitcoin Treasury Strategy & SmarterWeb  DISCLAIMER: All views in this episode are our own and DO NOT reflect the opinions/views of any of our guests or sponsors. I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!

The country's top bank regulators have proposed a major change to the banking rules. Some say this is like a stealth QE, everyone else appears equally confused. We'll get into what the new changes mean. More important, where these various ratios came from and why bank they are so hyped when they really shouldn't be. Eurodollar University's Make It Make Cents*****If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/************You can still watch the webinar replay here:https://event.webinarjam.com/go/replay/29/3y5kpclzi20tz1t5******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

A July rate cut is far from off the table. In addition to the macroeconomic evidence, the FOMC minutes from last month's meeting make clear there really isn't some divide among policymakers. In fact, the text leaves the distinct impression officials really don't want to a repeat of last year. Eurodollar University's Money & Macro Analysis

Amazon Prime Days have been doubled to four, simply confirming just how this year really is different for the consumer economy. It is merely the latest to testify for highly unusual weakness. Along with a sharp drop in credit card usage, the historically unusual decline in weekly worker earnings show exactly why there are four Prime Days this year. Eurodollar University's Money & Macro Analysis*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******NBC News Amazon extends Prime Day discounts to 4 days as retailers weigh tariffs and price increaseshttps://www.nbcnews.com/business/business-news/amazon-extends-prime-day-discounts-4-days-retailers-weigh-tariffs-pric-rcna217510Bloomberg Amazon Sellers Curb Prime Day Discounts With Tariffs Taking Bitehttps://www.bloomberg.com/news/articles/2025-07-08/amazon-sellers-curb-prime-day-discounts-with-tariffs-taking-bitehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

This wasn't supposed to happen. In fact, many said it was impossible up to and including central bank officials at the Federal Reserve. Yet, one of them, the head of the all-important New York branch, just released a report which say the market is taking ZIRP possibilities very seriously - and so should those at the highest levels of the Fed. Eurodollar University's Money & Macro Analysis*****If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/************To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******FRBNY Liberty Street Blog The Zero Lower Bound Remains a Medium‑Term Riskhttps://libertystreeteconomics.newyorkfed.org/2025/07/the-zero-lower-bound-remains-a-medium-term-risk/FOMC Transcript March 2007https://www.federalreserve.gov/monetarypolicy/files/FOMC20070321meeting.pdfhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The world is supposed to be all over the "sell America" trade, so why is it only this one key currency is? The thing is now sticking out like a sore thumb as more and more pile onto "sell America" here without any corroboration at all. Even FX modelers are confused by this insistence. What happens when everyone is on one side of a transaction under false assumptions? It converges. Sometimes violently. Eurodollar University's Money & Macro Analysis*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******Bloomberg Misfiring Models Leave Wall Street Currency Traders Flying Blindhttps://www.bloomberg.com/news/articles/2025-07-07/misfiring-models-leave-wall-street-currency-traders-flying-blindhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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PREVIEW PRC: Colleague Anne Stevenson-Yang presents a clever gaming of the deflation fighting that moved Beijing to shower the consumers with discounts that can lead to profiting from self-dealing. More. 1890 SHANGHAI

Is this the payback? The rate cuts aren't working and that can only mean more of them. The best current examples are to north and south of the US where rolling over has taken on a new sense of urgency, especially since both are, at the margins, a proxy for American demand.Eurodollar University's conversation w/Steve Van Metre*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

It was supposed to be one single out-of-control Wall Street bank. When authorities were forced to look into the matter, what they uncovered was a shocking. Not one but EVERYONE. Yet, after uncovering what was going on, the full astonishing scale, they never figured out WHY. And that was the whole thing, what the scandal said about a world that had already drastically changed. Eurodollar University's Make It Make Cents*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******Treasury Joint Report on the Government Securities Market (Jan 1992)https://home.treasury.gov/system/files/276/joint-report-on-the-government-securities-Market-1992.pdfLA Times Taming the Bond Buccaneers at Salomon Brothers : How Warren Buffet and friends swept up after the Salomon scandal, possible saving the firm from federal regulators furious after a decade of skuldggery [sic] on Wall Street.https://www.latimes.com/archives/la-xpm-1992-02-16-tm-4654-story.htmlSEC Chronology of Salomon Scandalhttps://www.sechistorical.org/collection/papers/1990/1991_1016_ChronologySalomonT.pdfJay Powell Treasury Markets and the TMPG (Oct 2017)https://www.federalreserve.gov/newsevents/speech/powell20171005a.htmhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swapsLike last month, this June payroll report was taken one way in the mainstream while the details went entirely in the other direction. Headline was a beat and the unemployment rate stalled. Yet, the former was ironically a product of government jobs while the latter slid a tiny amount for ALL THE WRONG REASONS.

There is something going on in the money system with collateral. We've been covering bills and the latest data sheds more light on what is likely happening. It is something we've seen many times before. That's not a good sign. Eurodollar University's Money & Macro Analysis*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Fedex is a global bellwether for good reason. What the company said about the economic environment at the start of Q3 was...nothing. But in choosing not to forecast anything, the company said a lot especially given the evidence that has come piling up. We haven't seen consumer spending and incomes like this in America since 2020. That's not a typo. Flat Beveridge. Eurodollar University's Money & Macro Analysis*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Big moves in yields, especially at the front. While twos are making a move on their own, it's the very front at the first-in-line bills that draws our attention. Steepening has been given a boost by some ugly recent data from right where it counts - incomes and spending.Eurodollar University's conversations w/Steve Van Metre*****If you are in any way interested in precious metals,  you need to see what today's video sponsor, Monetary Metals, is doing with them at the link below: http://www.monetary-metals.com/Snider/************To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/channel/swaps******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

AI shouldn't provoke fear and anxiety, it should raise expectations for regular 4-day workweek with 3-day weekends. Artificial Intelligence represents a potential major leap in labor productivity. The end result isn't a desolate hellscape which leaves everyone unemployed, it's instead something economics (small "e") is very familiar with. webinar link https://event.webinarjam.com/channel/swapsEurodollar University's Make it Make Cents*******To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/register/29/4yzg6cx2******https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

To sign up for our webinar on July 10, follow the link below:https://event.webinarjam.com/register/29/4yzg6cx2It never was entirely tariff distortions. Everyone had tried to dismiss Q1 as an anomaly. Later revisions have instead shown there is indeed a shift happening among US consumers. Even Winnebago agrees and RVs are the canary for the canary in the macro coalmine. Beveridge is getting closer. Eurodollar University's Money & Macro AnalysisBloomberg US GDP Revised Lower as Consumers Slash Services Spendinghttps://www.bloomberg.com/news/articles/2025-06-26/us-gdp-revised-lower-as-consumers-slash-recreation-spendingWinnebago https://winnebago.gcs-web.com/static-files/e0acc2ce-9a34-456d-8f68-a8235351493aWSJ Winnebago Cuts Guidance as Soft Demand Hurts RV Retail Saleshttps://www.wsj.com/business/earnings/winnebago-cuts-revenue-profit-outlook-after-declines-0b3a9053https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

From automation to falling prices, AI is changing everything. Here's how it's reshaping business, money, and what it means to stay ahead in a digital-first world. Get access to our real estate community, coaching, courses, and events at Wealthy University https://www.wealthyuniversity.com/Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/ If you want to level up, text me at 725-527-7783!--- About Ryan Pineda: Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue. Ryan has amassed over 2 million followers on social media and has generat...