Podcasts about Deflation

China's yield curve is being reshaped in a way that has created confusion across the spectrum. Even policymakers at the PBOC are talking about the need to do something. However, market behavior is consistent with what we're seeing around the rest of the world and how it all relates to China finding a way out of its mess and hitting upon a real recovery. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------If you want to see what you've been missing - and it's A LOT - then join us at Eurodollar University. Our memberships have got you covered where it comes to mastering monetary mechanics. You won't find this anywhere else. https://www.eurodollar.university/memberships---------------------------------------------------------------------------Bloomberg China Bond Slump Fuels Speculation PBOC Will Resume Debt Buyinghttps://www.bloomberg.com/news/articles/2025-09-14/china-bond-slump-fuels-speculation-pboc-will-resume-debt-buyingReuters Chinese money flows into bonds even as central bank warns of riskshttps://www.reuters.com/markets/asia/chinese-money-flows-into-bonds-even-central-bank-warns-risks-2024-06-27/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

For the first time ever, French bond spreads are higher than those seen in Italy (both compared to Germany). This isn't just about "fiscal consolidation" worries and France's government budget, the real issue behind everything is economic differentials. Those need to be turned around and soon else France risks being the new, well, Italy. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------NYT French Government Collapses, Again, Deepening Paralysishttps://www.nytimes.com/2025/09/08/world/europe/france-vote-government-collapse.htmlCNBC France's Macron names loyalist Lecornu as new prime ministerhttps://www.cnbc.com/2025/09/09/france-macron-names-lecornu-new-prime-minister.htmlCNBC France's borrowing costs rise after Fitch downgrade — and there could be more bad news aheadhttps://www.cnbc.com/2025/09/15/frances-borrowing-costs-rise-after-fitch-downgrade-.htmlBloomberg French Borrowing Costs Top Italy's in Historic Market Shifthttps://www.bloomberg.com/news/articles/2025-09-09/french-borrowing-costs-top-italy-s-in-historic-market-shifthttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

The oil business is heading for a big bust, putting Texas in the crosshairs. While that's obviously not good for the economy as a whole, energy does tend to be a leading indicators and when the jobs starting being lost in the space in a big way it's a big red flag. Consumers know it, given what was also just reported from them, too. Eurodollar University's conversations w/Steve Van Metre---------------------------------------------------------------------------In a world where markets swing on every headline, focus matters. That's why Eurodollar University offers One Big Weekly Theme — a disciplined, thematic analysis you can count on.If you don't have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. https://eurodollaruniversity.substack.com/---------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Since the July payroll report came out, something seems to have snapped out there in the offshore eurodollar world. Two key sources are signaling a turn toward substantial tightening. Here we go over what those signals are, how to read them in context, and what they mean going forward. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------If you want to see what you've been missing - and it's A LOT - then join us at Eurodollar University. Our memberships have got you covered where it comes to mastering monetary mechanics. You won't find this anywhere else. https://www.eurodollar.university/memberships---------------------------------------------------------------------------FRBNY Triparty Repohttps://www.newyorkfed.org/markets/data-hubhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/sniderYesterday's 10-year note auction produced something we've never seen before, and it totally upended everyone's expectations if not more. With the macro climate being what it is, the 10s sale was a "victim" of the increasingly prominent curve reshaping we're seeing everywhere. And "everywhere" absolutely includes the long bond, the 30-year maturity the mainstream has its sights on. Eurodollar University's Money & Macro AnalysisBloomberg Big Banks Nearly Get Shut Out of Treasury 10-Year Auctionhttps://www.bloomberg.com/news/articles/2025-09-10/big-banks-nearly-get-shut-out-of-treasury-10-year-auctionBloomberg Trump Isn't the Only Reason the Price of Money Is Risinghttps://www.bloomberg.com/news/articles/2025-09-11/podcast-trump-isn-t-the-only-reason-the-price-of-money-is-risinghttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

For more information on 21shares and to sign up for their newsletter, visit https://bit.ly/3JTI4GQSubscribe @21Shares on YouTube: https://www.youtube.com/@21sharesFollow @21Shares on Instagram: https://www.instagram.com/21shares_/Follow @21Shares on Linkedin: https://www.linkedin.com/company/21shares-us/Follow @21Shares on X: https://x.com/21Shares_USIt wasn't actually the record downgrade to payrolls that stood out the most. Far more important, the QCEW confirms there is a very good chance a recession began LAST YEAR. Not just the forgot how to grow kind, a full-blown one even mainstream Economists and the NBER will be recognizing. The evidence continues to show we all went from forgot how to hire to remember how to fire. The Fed's fifty next week is all but set.Eurodollar University's Money & Macro AnalysisCNBC JPMorgan CEO Jamie Dimon says the economy ‘is weakening'https://www.cnbc.com/2025/09/09/jpmorgan-jamie-dimon-economy.htmlBloomberg US Payrolls Marked Down a Record 911,000 in Preliminary Estimatehttps://www.bloomberg.com/news/articles/2025-09-09/us-payrolls-estimated-to-be-911-000-lower-in-year-through-marchStanley Fischer The Great Recession: Moving Aheadhttps://www.federalreserve.gov/newsevents/speech/fischer20140811a.htmChristopher Waller Let's Get On with Ithttps://www.federalreserve.gov/newsevents/speech/files/waller20250828a.pdfhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUDisclaimerThis video is sponsored by 21Shares. The information provided in this video is for educational and informational purposes only and should not be considered financial or investment advice. Investing involves risk, including the possible loss of principal. Products mentioned may not be available in all jurisdictions, and their suitability will depend on your individual circumstances. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

A record downward revision to payrolls adds to the evidence the US labor market is in dire shape while also heading in the wrong direction. In this video, we go over not just those details but also look ahead at the possible financial consequences should conditions continue to deteriorate in the way they appear to be. What else might be triggered by job losses in the real economy? More than a few possibilities. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Gold keeps soaring and not because of inflation. We know this without any doubt because as copper prices remain stuck, rising bullion against it has crashed the copper-to-gold ratio down to RECORD LOWS. That isn't about expectations for a crash, instead the market is expressing rising probabilities as to the future. One in which the latest data from FRBNY on job finding expectations fits only too well. Eurodollar University's Money & Macro Analysis------------------------------------------------------------------------In a world where markets swing on every headline, focus matters. That's why Eurodollar University offers One Big Weekly Theme — a disciplined, thematic analysis you can count on.If you don't have the time to go all the way to the depth of Eurodollar University's comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. https://eurodollaruniversity.substack.com------------------------------------------------------------------------FRBNY Survey of Consumer Expectationshttps://www.newyorkfed.org/microeconomics/scehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

For more information on 21shares and to sign up for their newsletter, visit https://bit.ly/3JTI4GQThere was one key stat from this week which helps explain the increasingly desperate state of the US labor market, offering background behind the "unexpectedly" weak payroll numbers from Friday. August's estimate was its lowest since...May 2009. Given the connection to employment, it all fits together with so many other signals including record low copper-to-gold. Yep, record low. Eurodollar University's weekly conversation w/Steve Van Metre-------------------------------------------------------------------------------------For more information on 21shares and to sign up for their newsletter, visit https://bit.ly/3JTI4GQ-------------------------------------------------------------------------------------ISM Services August 2025https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/services/august/https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUDisclaimerThis video is sponsored by 21Shares. The information provided in this video is for educational and informational purposes only and should not be considered financial or investment advice. Investing involves risk, including the possible loss of principal. Products mentioned may not be available in all jurisdictions, and their suitability will depend on your individual circumstances. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news American right-wing swamp populism is driving the world's economy into a blind alley. Other countries are trying to figure out how to separate themselves from that.In the week ahead, financial markets will be assessing the risks of stagflation after the weaker labour market report in the US, and the growing expectation that inflation's new rise will pick up steam. In the US we will get August CPI and PPI data at the end of the week and their core CPI rate could well rise from its July 3.1% rate. That data will be put in context with the next University of Michigan consumer sentiment survey update.Inflation data from both China and India is also due, but little upward pressure is expected to be seen from either of them. In China, new initiatives on support measures to keep their economy from stuttering are expected this week largely to fend of deflationary pressures.The ECB will be reviewing its policy rates this week, but no change is expected. Inflation is no threat there, giving them options.Over the weekend we got a keenly anticipated American update on their labour market. It turned out that analysts were right to think the low forecast of a +75,000 rise in US non-farm jobs was optimistic. In fact they came in at +22,000 for August. June data was revised down by -27,000 and the change for July was revised up by +6,000. With these revisions, employment in June and July combined is 21K lower than previously reported. Trump's firing of the agency that reports this data isn't changing the sharp trend lower. Trump now has to own this trend.In fact, the total jobs added in May, June, July and August in 2025 is about the same as was added in August 2024 alone. For them its a concerning trajectory but it can all be traced to junk public policy.Worse, the data shows that manufacturing jobs fell -12,000 in August with clearly no sign of factory jobs reshoring.If we look at the unadjusted data for civilian employment - which accounts for more than just those on employer payrolls, the July to August change was a -511,000 reduction. It's a time when the self-employed are really struggling.All this downbeat data is reflected in the financial markets on Friday. Wall Street was down -0.3%, bond yields fell sharply again, and the USD weakened. The pall spread to Europe too where they are digesting the latest US strategic insult.The chance of a rate cut by the Fed has now become a certainty in financial market pricing as the central bank is scrambling to contain the growing fiscal mess which looks like it is going to be much larger than feared, and much sooner. A full -25 bps rate cut is priced in for the mid-September meeting, and another before the end of the year. Trump will get his rate cuts because of his actions to tank the US economy. But there are voting members who still insist that inflation should be contained before they cut. The next US CPI data is due in a week and the current +2.7% inflation rate is widely expected to rise to 2.9% and a core rate back over 3.0% which emphasises the risks stagflation's effects are hurting the world's largest economy.It was no better in Canada where payroll employment fell -65,500 in August from July largely due to a sharp fall in part-time employment (-59,700). The trade shock with the US is getting the blame here too.In Canada they watch the Ivey PMI closely and that shifted from a modest expansion in July to none in August. But at least it wasn't contracting. Consistent with their official jobs data, the employment sub-component of this PMI was contracting.A -25 bps rate cut there is also priced in before the end of 2025. Canadian August inflation is expected to come in little-changed at 1.7% on September 16, 2025.The Canadian government is taking an activist approach to protecting their economy with a major support announcement on Friday.Data out across the Pacific was far more encouraging. Singapore said its retail activity expanded far more than expected in July, and is now up +4.1% from June, up +4.8% from a year ago. It has been on a rising trend for almost all of 2025.And China said its fx reserves rose to US$3.32 tln in August, its highest since late 2015. And it purchased a bit more gold in the month, helped by the rise in the gold price of course, which adds another US$2.5 tln to to reserves which now total US$3.64 tln.In Australia, extended June quarter labour market data showed that the number of total jobs there increased +0.3% to 16.3 million. Filled jobs rose +0.2% to 16.0 million where secondary jobs decreased -1.2% to 1.0 million and multiple job-holders decreased -1.3% to 948,900. Hours worked increased +0.3% to 6.0 billion hours in the quarterThe FAO global food price monitoring shows that in August overall prices were stable and just marginally higher than where they ended 2024. Dairy prices look like they have peaked but meat prices are still rising driven by beef and sheep meats.The UST 10yr yield is now at 4.09%, unchanged from yesterday at this time. That makes the weekly backslide -14 bps and to a five month low. The price of gold will start today at US$3,585/oz, down -US$7 from Saturday and just off its record high. That is up almost +US$150 from a week ago and a sharp +4.4% risk aversion rise for the week.American oil prices are a bit softer at just under US$62/bbl on the struggling US domestic prospects with the international Brent price also softer just on US$65.50/bbl. A big new burst of crude production is on its way too.The Kiwi dollar is at just over 58.9 USc and little-changed from Saturday. Against the Aussie we are also unchanged at 89.9 AUc. Against the euro we are holding at 50.3 euro cents. That all means our TWI-5 starts today at just under 66.4, up +10 bps from Saturday.The bitcoin price starts today at US$111,046 and down a mere +0.1% from this time Saturday. Volatility over the past 24 hours has been low at just on +/- 0.6%.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Payrolls were ugly, a big miss for August on top of revisions to June which pushed the monthly change negative. If that wasn't enough, a rising unemployment rate after a crash in full-time employment. Plus, a plunge in Canadian payrolls punctuate the turning point for North American jobs. Rates were down sharply, no surprise. Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------Eurodollar University's One Big Weekly Themehttps://eurodollaruniversity.substack.com/Eurodollar University's Deep Dive Analysishttps://eurodollar.university---------------------------------------------------------------------------

It's not what everyone says, watch what they do. Big companies and big banks (JPM, too) are making heavy preparations for sharply lower interest rates. The former, in particular, have basically revived the long-dormant commercial paper market in a clear sign. At the same time, US and global banks are remaking their balance sheets in critical and unambiguous ways. Even some Fed officials are now seeing it, too. R is back to being an ultra-low STAR.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------Eurodollar University's One Big Weekly Themehttps://eurodollaruniversity.substack.com/---------------------------------------------------------------------------Bloomberg America Inc. Swaps Decades for Days in Rush to Commercial Paperhttps://www.bloomberg.com/news/articles/2025-09-02/30-years-try-30-days-america-inc-flocks-to-commercial-paperCNN Be prepared for 7% interest rates, warns Jamie Dimonhttps://www.cnn.com/2023/10/02/investing/jamie-dimon-jpmorgan-7-percent-interest-rate-recessionFRBNY John Williams All the Stars We Cannot Seehttps://www.newyorkfed.org/newsevents/speeches/2025/wil250825Bloomberg Won Advances After BOK Governor Defends Currency Interventionhttps://www.bloomberg.com/news/articles/2025-08-28/won-gains-after-bok-rhee-s-comments-on-forex-intervention-goalshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Dollar Tree says after seeing a major influx of especially middle-income Americans in its stores, it won't be able to raise prices. The latest jobs data leaves absolutely no doubt why that is. According to the turnover stats, the US labor market LOST jobs in June and July.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------WSJ Dollar Tree Shares Fall as Tariffs Dampen Near-Term Outlookhttps://www.wsj.com/business/retail/dollar-tree-boosts-outlook-as-sales-jump-c48b7461WSJ Dollar General Draws Shoppers Across Income Levels, Raises Outlookhttps://www.wsj.com/business/retail/dollar-general-boosts-outlook-after-earnings-rise-95e4bff8https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

After trading conspicuously sideways for the past four months, gold has finally broken out of its range. However, at the same time the US dollar exchange value is threatening to do the same - by moving HIGHER. It's a bad combination: rising gold, higher dollar, and falling interest rates. If any doubts remain about what's really happening, the copper-to-gold ratio leaves everyone no doubt.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------Eurodollar University's One Big Weekly Themehttps://eurodollaruniversity.substack.com/---------------------------------------------------------------------------Bloomberg Why Investors Can't Seem to Get Enough of Goldhttps://www.bloomberg.com/news/articles/2025-09-02/gold-price-record-why-bullion-is-safe-haven-amid-tariffs-inflationhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Chinese stocks are heading into orbit, taking off like a rocket ever since the US and China reached an agreement to not inflict the worst of trade wars. Curiously, though, the Chinese economy has further deteriorated which means the equity surge is looking more and more like something we've seen before from Shanghai.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------Eurodollar University's One Big Weekly Themehttps://eurodollaruniversity.substack.com/---------------------------------------------------------------------------Bloomberg China Stocks Are Sending Warning Signs on Liquidity-Driven Rallyhttps://www.bloomberg.com/news/articles/2025-08-25/china-stocks-are-sending-warning-signs-on-liquidity-driven-rallySCMP 4 reasons fears of China stock market bubble are misplacedhttps://www.scmp.com/opinion/china-opinion/article/3323431/four-reasons-fears-china-stock-market-bubble-are-misplacedhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Once Federal Reserve policymakers start making total sense, that's when you know. Officials are seeing the data the same way(s) we are, meaning a mess in jobs combined with an absence of any sign for tariff inflation. A big one came this week with a leading voice voicing caution and a growing possibility for that September fifty. Eurodollar University's conversation w/Steve Van Metre---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------Christopher Waller Let's Get On with Ithttps://www.federalreserve.gov/newsevents/speech/files/waller20250828a.pdfhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

On this episode of Crazy Wisdom, Stewart Alsop sits down with Brad Costanzo, founder and CEO of Accelerated Intelligence, for a wide-ranging conversation that stretches from personal development and the idea that “my mess is my message” to the risks of AI psychosis, the importance of cognitive armor, and Brad's sovereign mind framework. They talk about education through the lens of the Trivium, the natural pull of elites and hierarchies, and how Bitcoin and stablecoins tie into the future of money, inflation, and technological deflation. Brad also shares his perspective on the synergy between AI and Bitcoin, the dangers of too-big-to-fail banks, and why decentralized banking may be the missing piece. To learn more about Brad's work, visit acceleratedintelligence.ai or reach out directly at brad@acceleratedintelligence.ai.Check out this GPT we trained on the conversationTimestamps00:00 Brad Costanzo joins Stewart Alsop, opening with “my mess is my message” and Accelerated Intelligence as a way to frame AI as accelerated, not artificial.05:00 They explore AI as a tool for personal development, therapy versus coaching, and AI's potential for self-insight and pattern recognition.10:00 The conversation shifts to AI psychosis, hype cycles, gullibility, and the need for cognitive armor, leading into Brad's sovereign mind framework of define, collaborate, and refine.15:00 They discuss education through the Trivium—grammar, logic, rhetoric—contrasted with the Prussian mass education model designed for factory workers.20:00 The theme turns to elites, natural hierarchies, and the Robbers Cave experiment showing how quickly humans split into tribes.25:00 Bitcoin enters as a silent, nonviolent revolution against centralized money, with Hayek's quote on sound money and the Trojan horse of Wall Street adoption.30:00 Stablecoins, treasuries, and the Treasury vs Fed dynamic highlight how monetary demand is being engineered through crypto markets.35:00 Inflation, disinflation, and deflation surface, tied to real estate costs, millennials vs boomers, Austrian economics, and Jeff Booth's “Price of Tomorrow.”40:00 They connect Bitcoin and AI as deflationary forces, population decline, productivity gains, and the idea of a personal Bitcoin denominator.45:00 The talk expands into Bitcoin mining, AI data centers, difficulty adjustments, and Richard Werner's insights on quantitative easing, commercial banks, and speculative vs productive loans.50:00 Wrapping themes center on decentralized banking, the dangers of too-big-to-fail, assets as protection, Bitcoin's volatility, and why it remains the strongest play for long-term purchasing power.Key InsightsOne of the strongest insights Brad shares is the shift from artificial intelligence to accelerated intelligence. Instead of framing AI as something fake or external, he sees it as a leverage tool to amplify human intelligence—whether emotional, social, spiritual, or business-related. This reframing positions AI less as a threat to authenticity and more as a partner in unlocking dormant creativity.Personal development surfaces through the mantra “my mess is my message.” Brad emphasizes that the struggles, mistakes, and rock-bottom moments in life can become the foundation for helping others. AI plays into this by offering low-cost access to self-insight, giving people the equivalent of a reflective mirror that can help them see patterns in their own thinking without immediately needing therapy.The episode highlights the emerging problem of AI psychosis. People overly immersed in AI conversations, chatbots, or hype cycles can lose perspective. Brad and Stewart argue that cognitive armor—what Brad calls the “sovereign mind” framework of define, collaborate, and refine—is essential to avoid outsourcing one's thinking entirely to machines.Education is another theme, with Brad pointing to the classical Trivium—grammar, logic, and rhetoric—as the foundation of real learning. Instead of mass education modeled on the Prussian system for producing factory workers, he argues for rhetoric, debate, and critical thinking as the ultimate tests of knowledge, even in an AI-driven world.When the discussion turns to elites, Brad acknowledges that hierarchies are natural and unavoidable, citing experiments like Robbers Cave. The real danger lies not in elitism itself, but in concentrated control—particularly financial elites who maintain power through the monetary system.Bitcoin is framed as a “silent, nonviolent revolution.” Brad describes it as a Trojan horse—appearing as a speculative asset while quietly undermining government monopoly on money. Stablecoins, treasuries, and the Treasury vs Fed conflict further reveal how crypto is becoming a new driver of monetary demand.Finally, the synergy between AI and Bitcoin offers a hopeful counterbalance to deflation fears and demographic decline. AI boosts productivity while Bitcoin enforces financial discipline. Together, they could stabilize a future where fewer people are needed for the same output, costs of living decrease, and savings in hard money protect purchasing power—even against the inertia of too-big-to-fail banks.

There is no escaping the Pringles can. While the Bank of Canada has been on hold with its rate cutting since March, Canadian GDP, payrolls and even the latest Canadian CPI figures leave no doubt. Plus, the globally synchronized implications will be heard in central bank deliberations worldwide. Eurodollar University's Money & Macro Analysis------------------------------------------------------------------------------------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!------------------------------------------------------------------------------------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.

Two-year Treasury yields set a new almost-year low, falling below their prior April chaos lows. The yield curve is undergoing a profound reshaping that explains a lot more than Jay Powell's Jackson Hole performance. It also perfectly indicates what long-run interest rates are also doing as well as likely to do moving forward.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------Bloomberg 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: https://twitter.com/JeffSnider_EDU

Consumer fears over jobs increased yet again in August, as did expectations for a recession. Relatedly, two separate sources confirmed housing prices in the US fell yet again in their latest monthly estimates. Related because the one is causing the other; fears over jobs that aren't strictly fears are reducing demand for homes and a whole lot more. Deep down, even Jay Powell knows it.Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider---------------------------------------------------------------------------------------------------------------------Jay Powell's August 2025 Jackson Hole speechhttps://www.federalreserve.gov/newsevents/speech/files/powell20250822.pdfConference Board August 2025 consumer confidence https://www.conference-board.org/topics/consumer-confidence/Bloomberg Weak US Housing Outlook Sends Australia's Reece Tumblinghttps://www.bloomberg.com/news/newsletters/2025-08-25/reece-tumbes-lithium-optimism-us-stocks-australia-briefinghttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

France's government is going to collapse again in a couple weeks. While everyone was distracted by trade wars, the underlying schism in politics remained unresolved. France is between a rock and a hard place, trying to fix its budget. Here's the thing: both the rock and the hard place are the same thing. Eurodollar University's Money and Macro AnalysisI'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!------------------------------------------------------------------------------------CNN France fears new political crisis after PM's confidence-vote gamblehttps://www.cnn.com/2025/08/25/europe/francois-bayrou-french-confidence-vote-intlCNBC ‘Our country is in danger': French PM takes confidence vote gamble over budget woeshttps://www.cnbc.com/2025/08/26/french-pm-takes-confidence-vote-gamble-over-budget-woes.htmlBloomberg France's Government Risks New Collapse, Weighing on Marketshttps://www.bloomberg.com/news/articles/2025-08-25/france-s-government-risks-another-collapse-weighing-on-marketsBloomberg French Political Crisis Dashes Hope of Business-Led Recoveryhttps://www.bloomberg.com/news/articles/2025-08-27/france-s-political-crisis-dashes-hopes-of-business-led-recoveryhttps://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.

Brian Mooney, Guidance Counsellor and Irish Times Education Columnist, looks ahead to what students can expect when CAO offers are released later today.

Home sales are down. Prices are falling. Inventories are rising. Record number of cancelations. And this is for July, not just a prime sales month in real estate, also three months after the events April. Stocks are soaring and trade deals have been struck. Where are all the buyers? Eurodollar University's Money & Macro Analysis------------------------------------------------------------------------------------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!------------------------------------------------------------------------------------Redfin News Home Purchases Are Getting Canceled at a Record Ratehttps://www.redfin.com/news/home-purchase-cancellations-july-2025/Bloomberg US New-Home Sales Exceed Forecast Following Upward Revisionhttps://www.bloomberg.com/news/articles/2025-08-25/us-new-home-sales-exceed-forecast-following-upward-revisionBloomberg US Homebuilder Sentiment Retreats as Buyers Lack Motivationhttps://www.bloomberg.com/news/articles/2025-08-18/us-homebuilder-sentiment-retreats-as-buyers-lack-motivationNAR Existing-Home Sales Report Shows 2.0% Increase in Julyhttps://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-2-0-increase-in-julyhttps://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.Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Something has changed in China. Something big. Bank lending dropped sharply, more than it has. Fixed investment suddenly crashed. Retail sales contracted in a way China hasn't experienced since 2022's lockdowns. The usual economic and financial decay has been taken up a notch, if not two. So, naturally, Chinese stocks are soaring, one final negative signal. Yes, negative.Eurodollar University Money & Macro Analysis----------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: monetary-metals.com/snider----------------------------------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Links & ResourcesFollow us on social media for updates: ⁠⁠Instagram⁠⁠ | ⁠⁠YouTube⁠⁠Check out our recommended tool: ⁠⁠Prop Stream⁠⁠Thank you for listening!

There were several key points from Jay Powell's speech at Jackson Hole which everyone seems to have missed. The market picked up on them, however, with SOFR futures reacting by pushing its inversion deeper and further out, now early 2027. What Chair Powell meant under everything he said was he finally gets the big Beveridge risk.  Eurodollar University's conversation w/Steve Van Metre------------------------------------------------------------------------------------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!------------------------------------------------------------------------------------Chair Powell's Jackson Hole Speechhttps://www.federalreserve.gov/newsevents/speech/files/powell20250822.pdfhttps://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.Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Jay Powell vs. Ronald McDonald? The FOMC yesterday published the minutes of its July meeting which showed a majority of officials believe inflation is the country's greatest threat. So, it was a huge shock when the world's biggest fast-food joint reported - ON THE SAME DAY - it was doing the opposite. Even the FOMC "majority" isn't as solid as it is made to appear, as the minutes also contained one observation that really does align with these real economy facts. Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here here: monetary-metals.com/snider----------------------------------------------------------------------------------------------------------FOMC Minutes for July 2025https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20250730.pdfFox Business McDonald's to slash combo meal prices to win back budget-conscious shoppershttps://www.foxbusiness.com/lifestyle/mcdonalds-slash-combo-meal-prices-win-back-budget-conscious-shoppersCNN McDonald's is cutting prices of its combo meals to convince customers it's affordable againhttps://www.cnn.com/2025/08/20/food/mcdonalds-combo-lower-pricesBloomberg Fed Chair Contender Bullard Backs 100 Basis Points of 2025 Cutshttps://www.bloomberg.com/news/articles/2025-08-21/fed-chair-contender-bullard-backs-100-basis-points-of-2025-cutsBloomberg US Stocks Extend Slide as Walmart Misses, Jobless Claims Risehttps://www.bloomberg.com/news/articles/2025-08-21/us-equity-futures-fall-as-walmart-misses-jobless-claims-risehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

An expert eye cast over the results released today with TJ who tells PJ what the mood is about today's results Hosted on Acast. See acast.com/privacy for more information.

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/.Target suffered another quarterly drop in sales. And the reason why was given by the CEO of Home Depot commenting on his own company's struggles. Laying down some truth, for once, these big retailers are adding more color and confirmation to why the market keeps betting more forcefully for the September Fed 50. 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.

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/Corporate credit is filled with what appear to be contradictions, with some spread categories tumbling to their lowest levels since the late nineties. Yet, delinquencies and risks are rising and doing so in a way everyone is recognizing. So, why the complacency? It's a combination of several critical - perhaps killer - factors that tie in to commercial real estate. We have some related updates on that are, too. Eurodollar University's Money and Macro AnalysisBloomberg US Corporate Bond Spreads Sink to 27-Year Low as ‘FOMO' Sets Inhttps://www.bloomberg.com/news/articles/2025-08-15/us-corporate-bond-spreads-sink-to-27-year-low-as-fomo-sets-in

The UK actually managed to publish some data without delay or suspension. July inflation rates were slightly higher than expected, although disinflation forces are also evident. A 30.2% monthly increase in airfares did much to push the figures higher. This is almost certainly a seasonal adjustment distortion related to school holidays.

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/It's gotten so bad that serious Wall Street commentators are openly talking about yield curve control for Treasuries - just like they did four years ago. Yet, YCC never happened for the same reason it won't happen today. While the same people calling for the Fed to buy bonds in order to stabilize interest rates say this is needed because foreigners are ditching USTs and the dollar, the latest data shows the opposite is happening. Again.This 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.Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.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!Last month was Amazon Prime "Day" - now four - and after it was over the whole thing just disappeared down a memory hole. Why? Ask the boxes. What box-makers are reporting is getting to be disturbing. No wonder with the latest on consumer sentiment, consumer goods production, and consumer spending hanging by a tariff-distorted thread.Eurodollar University's Money & Macro AnalysisAmazon Prime https://www.aboutamazon.com/news/retail/prime-day-2025-recapRetail Dive Amazon once again touts ‘record' Prime Day saleshttps://www.retaildive.com/news/amazon-prime-day-2025-record-sales/753034/Bloomberg What Declining Cardboard Box Sales Tell Us About the US Economyhttps://www.bloomberg.com/news/articles/2025-08-14/cardboard-box-sales-fall-in-worrying-sign-for-us-retailUofM August 2025 Consumer Sentimenthttps://www.sca.isr.umich.edu/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.Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

In this episode of Bitcoin Backstage, Jeff Park unpacks the rise of Bitcoin treasury companies and their global implications. From Japan's long deflationary struggle to SoftBank's role in high-risk growth, he explains why Bitcoin is entering the global stage. Park also explores how Tether is acting like a shadow central bank, reshaping trade finance. The conversation dives deep into whether Bitcoin is a quiet hedge or a true monetary anchor. Hosted by Bitcoin Backstage, this is a must-listen for anyone watching the future of global finance.Connect with Jeff Park on X: https://x.com/dgt10011Connect with Isabella Santos on X: https://x.com/isabellasg3

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/HSBC reported shocking results regarding its Hong Kong real estate loans further establishing the proportions of the credit crisis underway there. The news was, however, in line with recent developments in the city, among its banks, and with their Chinese counterparts. The reason was simple enough: all of them are suffering from the same fatal flow which the world, not just SE Asia, is in the middle of paying for. Eurodollar University's Money & Macro AnalysisReuters HSBC profit tumbles as China losses mounthttps://www.reuters.com/business/finance/hsbc-profit-tumbles-china-losses-mount-2025-07-30/Guardian https://slguardian.org/hsbc-flags-73-of-hong-kong-commercial-property-loans-as-risky-amid-market-slump/Bloomberg Hong Kong's Economy Has Two Gravity-Defying Puzzleshttps://www.bloomberg.com/opinion/articles/2025-08-11/hong-kong-interest-rates-and-housing-market-are-puzzlesBloomberg Hong Kong Property Woes Persist Despite Banks' Vote of Confidencehttps://www.bloomberg.com/news/newsletters/2025-07-01/hong-kong-property-woes-persist-despite-banks-vote-of-confidencehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUhttps://youtu.be/gY3Wge-v1sI

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!Oil tumbled today nearing its multi-year low as a massive supply glut hangs over the marketplace. But it's not supply where the glut is coming from. Meanwhile, rates also tumble as everyone - even the media - is getting ready for a September fifty out of the FOMC. In fact, these and the rest of the evidence are all the same thing, different sides of the same crude coin. Eurodollar University's Money & Macro AnalysisBloomberg Global Oil Markets Face Record Supply Glut Next Year, IEA Sayshttps://www.bloomberg.com/news/articles/2025-08-13/global-oil-markets-face-record-supply-glut-next-year-iea-saysIEA August 2025https://www.iea.org/reports/oil-market-report-august-2025Bloomberg Bets on Outsize Fed Cut Gain Steam as CPI Data Backs Doveshttps://www.bloomberg.com/news/articles/2025-08-12/bets-on-outsize-fed-cut-gain-steam-as-inflation-data-backs-dovesBloomberg CPI Report Boosts Market Bets on Larger September Fed Rate Cuthttps://www.bloomberg.com/news/articles/2025-08-13/bets-on-outsize-fed-cut-gain-steam-as-cpi-data-backs-dovesBloomberg Bessent Urges Fed to Lower Rates by 150 Basis Points or Morehttps://www.bloomberg.com/news/articles/2025-08-13/bessent-says-rates-should-likely-be-150-175-basis-points-lowerhttps://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/Eurodollar University's Money & Macro Analysishttps://www.eurodollar.universityTwitter: https://twitter.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!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.

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

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

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

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