Market Turbulence in Coming Months Before Rebound with Michael Howell

[@WTFinancepodcast]

Will we see market turbulence in the coming months as Michael suggests, or will numbers just keep going up?

[@peterbedford2610]

His predictions over the last two years have been pretty accurate. Much better than most on YT

[@josephessa9627]

Over the last 5 years*

[@dankurth4232]

True

[@peterbedford2610]

Asking a question and letting him speak...very good interviewing... Thanks

[@diylong]

Excellent video Michael is always worth listening to. I also love that KZbin ads don't destroy the experience in your posts...several other channels are unwatchable due to that.

[@ajamesonx]

So much value in what Mr Howell is explaining there. Makes a lot of sense. Thanks.

[@MmeuMar]

Have loved following Michael Howell over the last couple of years & his explanations are so clear. Never understood the Jpnese financial bubble before him. Well worth reading his book Capital Wars.

[@asudbury817]

Great interview. Hadn't been on this channel in awhile and see you've really stepped up your interviewing skills. Good job!

[@jaygreenakajackstax9345]

Michael, your understanding on the broad picture is really on point. I watch all of your vids on all channels. Michael, Darius, Cem, really great understanding of the financial system changing

[@tqbrowne]

Awesome update! So great to see this perspective. I agree that liquidity will depend on the TGA outflows, fed balance sheet unwind and other potentially headwinds

[@alanburkhart4791]

Great job bringing on the people you do. We need to listen to all sides and never forget history, be open minded and you will build wealth.

[@James-bb8xs]

Great interview Anthony. Michael one of those guys who makes things seem pretty straightforward and clear. These interviews are a huge help!

[@chriswyer8741]

One of the most erudite and clearly presented podcasts on the global economy ever! Thank you🙏

[@somejohndoe3004]

Great interview and value content, love this channel, keep up the great work Anthony. Much appreciation. 🙏

[@richardkut3976]

Thanks again, your interviews are getting better all the time, keep up the good work.

[@victorsperandeo3609]

You’re a delightful man and do a great job with your guests ! Thank you

[@Carol-cb9yu]

I have been subscribed to your channel for a while. Michael Howell is a name I search for anyway. He is driven by data not emotions. I don't listen to the bears you have on. I Don't want to hear that the market is wrong. You would have more subscribers if you gave out hot tips each week......but you would lose me. Good job.

[@MmeuMar]

Completely agree.......... and I think the bears get tons of attention for being bearish - for some reason people love dooming and so they get an audience even if they're wrong all the time. I doubt most of them even follow their own predictions.

[@carlosopeligroso4783]

Great interview

[@WTFinancepodcast]

Thanks for watching, appreciate it!

[@christianng2828]

Great guest and great interviewing. World of insights

[@harpoen7358]

You did make of your hobby a wonderfull KZbin channel with great guests and asking the right questions resulting an added value for those who are interest👍

[@harshtibrewala89]

Hi Anthony, Kudos to you for the great work. I learnt so much today. Perhaps if you could share the presentation here?

[@oscarnetzler7898]

well done

[@AnaTG2024]

Brilliant interview, Michael is a star

[@BatmanBoss]

Thanks

[@edgehunter8175]

Love that guy ... I will be signing up for x-border substacj

[@tagsoneveryting]

Where a good place to track liquidity conditioning in the major markets?

[@mechannel7046]

5:00 fed actually eased since oct 2022, in the name of tightening 30:00 what to invest, 31:45 Goldman sacks index, liquidity index

[@tom-eliasknosp5267]

Great interview guest!

[@stephengerrard6412]

I’m struggling to reconcile his views with the fact that US money supply (M2) is very low. Thoughts?

[@mountainman9145]

Michael Howell has ( in other videos) stated that M2 is an outdated concept with respect to liquidity. He defines liquidity as the 'capacity' of capital to flow across global financial markets. This capacity is now not generated by M2 - ( which represents the savings and check accounts of main street) but rather by global central banks, shadow banks, hedge funds and finally banks. Howell states that even though academics and universities still define M2 as liquidity it is now virtually an irrelevant measure of liquidity. He also stresses that it is important to understand that the global flow of capital is important not just the USA. In addition Howell claims that global liquidity has a five year cycle the fluctuates and conforms to a very definite sine wave pattern. When the sine wave inflects downwards liquidity eases when it inflects upwards liquidity tightens. Currently we are entering an easing cycle and this driving asset prices, bitcoin and gold higher.

[@stephengerrard6412]

Thank you very much. Has he said anything about why M2 and his measure are not correlated?

[@mountainman9145]

@@stephengerrard6412 Good question and since I replied to your post I am not convinced I fully understand myself. From memory Howell (again from previous videos) stated that M2 (money supply) does cause price inflation in the real economy i.e. the goods and services we encounter every day however he went onto say that assets (stock market etc) - the financial economy - is driven by liquidity. The capacity of currency to flow in and out of financial markets - globally. When there is excess liquidity (how exactly liquidity is measured I do not understand) asset prices forge ahead - as they are doing now. He also stated that this excess liquidity has approximately 1.5 to 2 years left in its run. I hope I have got it right and am not sprouting rubbish - good luck.

[@troy8231]

⁠ You should to see Michael’s substack articles where he explains “the broad transmission process”. He breaks down why it starts with liquidity rising in global financial economy/markets then how it flows to the real economy from there M2 is just domestic liquidity. For investors domestic liquidity conditions are not the most important thing to understand, it’s the overal systemic liquidity conditions globally. Liquidity = the cash & credit available for investments. The key measure that drives asset prices. As Howell says: “The first question an investor needs to ask is where are we in this liquidity cycle” Making money in investments is not looking at today, but what’s its likely to be in coming months (6-12 months)

[@stephengerrard6412]

Thank you

[@clffeingold]

10 to 15 years debt will escalate and be a problem? It’s a serious problem right now. We don’t have 10 years.

[@DavidMiranda1]

@WTFinancepodcast Love the video, but you should know your "thank you for listening" audio isn't in stereo and only comes through one headphone on my device

[@petergozinya6122]

Thank you Anthony

[@jmartosjrjmartosjr7329]

Very good interview

[@Galaxie00]

Loves the word Wonkish..,

[@buckrogers8672]

Great guest

[@sirluciussquigglesworthlll6503]

🔥

[@-Colonel-Kernel]

Love hearing about "wonkish concepts" lol :)

[@itsme-le1bg]

great pod. I think might already be seeing a little turbulence. Already in crypto

[@ΗλίαςΣιωρης]

Αντώνη καλησπέρα σιγά σιγά αναβαθμίζεις τους καλεσμένους άλλα σου προτείνω να καλείς και αυτούς πού βλεπουν το μέλλον της οικονομίας με θετική σκέψη και επειδή σε βλέπουν και Ευρωπαίοι ασχολήσου λίγο έχει ενδιαφέρον να είσαι διαφορετικός και πλήρης σε ευχαριστώ

[@vm-bz1cd]

Everthing the guest is staying re Short Term liquidity (tax receipts, RRPO, TGA, etc) although true is well known in advance and fully discounted by the markets. April, may, therefore prove to be a Surprise!

[@derekireland3395]

Yep … wonky times ahead 😂. Good analysis.

[@sumthinfresh]

A great case for being bullish

[@LUIS-633BANK]

👨🏽‍💻👍🏽

[@jew931]

The Chinese may have restarted their own QE (Zerohedge)….long live Gold

[@Dandy852]

He made of the island? How about the professor, Ginger and Marian….?

[@yamirtomas]

yo tmabien los detesto!

[@cogen651]

None of this matters when the FED can just print money

[@theguy9067]

That's the point, kid. Did you watch the video? 😂

[@Richard-y5u]

You sit too close to the camera…it freaks me out, sit further back plz.

[@GregRyanFitness]

This dude is out to lunch if he thinks the market is going to be great for 15 more months. The inverted yield curve which has never been wrong in history is over stretched now! But this time is different! LMAO

[@Del_987]

He caught the bottom based on his model back in October 2022 and he also caught the moves since. The inverted yield curve means nothing until it uninverts. It’s likely to stay inverted for another several months. Mad you missed the 2023 and 2024 being a sidelined bear?

[@edreeves121]

Criptos? Seriously? Pandering to the millennials greater fool theory of money?

[@cciornei8001]

To moderator: you have no diction, don't know how to talk / respond - do thomsing else

[@WTFinancepodcast]

Thanks for watching and the constructive criticism! Unfortunately for you I will continue with the interviews. Look forward to seeing you on the channel again.

[@josuastangl7140]

@@WTFinancepodcast G haha

[@mertyalciner5728]

Thank you Antony