Global Macro Update Archive

How much gold should you own?

Building resiliency, in part by reducing the US economy’s dependence on China, is a recurring theme here at Global Macro Update. I see it as essential to strengthening our long-term economic and national security.

Early in my career, I worked at a small brokerage doing mergers and acquisitions. Our buyer base included private equity groups. These were smart people, with deep industry knowledge that allowed them to add real value to the businesses they bought. They would grow the businesses over a period of five or so years, and then sell—capitalism at its best.

We delve further into dollar weaponization in our interview, along with Saleha’s unique take on US populism.

Copper prices have pulled back since peaking in May at $5.12, but the long-term bull case for copper remains strong.

Economist Bill White on the age of scarcity with higher interest rates, higher inflation, and the “guns and butter” problem.

This week we continue our conversation about strengthening US and Western resiliency.

Something phenomenal happened in 2001. Humanity generated more information in a single year than it had in all of human history, combined, up to that point.

The appetite for nuclear energy is growing fast. Here in the US, most adults now favor expanding our nuclear power capabilities because it’s a great alternative to fossil fuels. Unlike wind or solar, nuclear provides energy around the clock. So, why haven’t we built more nuclear power plants?

Several respected geopolitical analysts say the US is already in a Cold War with China.

My goal for Global Macro Update is to help you navigate a complicated macroeconomic landscape. I intentionally avoid commenting on politics, unless it directly affects our investment themes.

In seasoned investment circles, nearly everyone reads the memos from Howard Marks, the co-chairman of Oaktree Capital Management, which he’s been writing for his clients since 1990.