3 years ago

Blockworks Macro
70.6K subscribers

Nick Glinsman, macro hedge fund manager and author at Intelligence Quarterly, joins Joseph Wang (“Fed Guy) and Jack Farley to explore whether the Federal Reserve is at all disturbed by the vicious sell-off in risk assets, or if the carnage in equities and credit is actually in service of its mandate to control stable prices.

Glinsman argues that the global economy is on the verge of a wage-price spiral for the first time in four decades, and the central bankers will be in no hurry to reverse course on their hawkish policy. Taking from his extensive experience working at some of the world’s most successful hedge funds, Glinsman warns viewers not to “slip on a banana skin” as they navigate the macro landscape. Joseph Wang’s message to the viewers banking on a “Powell Put” is even more stark: “wake the ___ up.”

Nick Glinsman on Twitter https://twitter.com/nglinsman
Joseph Wang on Twitter https://twitter.com/FedGuy12
Jack Farley on Twitter https://twitter.com/JackFarley96
Blockworks on Twitter https://twitter.com/Blockworks_

Nick Glinsman's writings can be found at https://intelligencequarterly.com/. Joseph Wang's writings can be found at https://fedguy.com/.

Today’s episode is sponsored by Jack Farley, the host of Forward Guidance. If you would like to get in touch with Jack to potentially become a sponsor of Forward Guidance, you can email him at [email protected]. Serious inquiries only, please.

00:00 Introduction
02:40 Banana Skins In This Market
13:14 The Fall Of The "Transitory" Narrative
23:30 The Wealth Effect in Reverse
30:50 Ad
36:07 Have Central Banks Lost Control?
41:18 The Dollar and Bonds
50:28 Bretton Woods III
59:55 Inflationary Hikes