Macro Is Dead

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The next 5 years of US economic growth
The private sector continues to de-leverage. Are fiscal deficits big enough to overcome that and drive 5%+ growth?
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Peter Farac
9
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Spiralling government debt isn’t a choice
There is little governments can do when the private sector decides to save, other than to spend itself.
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Peter Farac
12
Cross-border capital flows have shaped the world
There are a few truly macro trends that, if they change, the world must change around them. The direction of cross-border capital flows is one of these.
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Peter Farac
16
Are the days of ZIRP over for the Fed?
The market over-prices the chance of <1% rates, failing to take into account the changing psychology of the humans that run the Fed
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Peter Farac
3
The (small) bank conundrum
The conundrum is not in what small banks should do, but what policy makers should do with small banks
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Peter Farac
3
Bad lending, financial crises and deep recessions
The roots of a classic financial crisis is in bad lending. What makes a bank-led crisis sufficient to send an economy into a coma?
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Peter Farac
4
A guide to (inflationary) money printing
If QE isn’t money printing, then what is?
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Peter Farac
7
The only thing QE did was destroy trust in the Fed
From its inception, Quantitative Easing has attracted an outsized amount of attention. Is this because it has a destabilising effect, or is it just…
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Peter Farac
3
Macro Is Dead
A detailed obituary to macro trading. A deep-dive into when, why and how it died.
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