Why Stagflation Could Be Rocket Fuel for Gold
This chart is doing something very simple, but very powerful. It is lining up the gold price with periods of stagflation and asking one blunt question. What tends to happen to gold
The Deficit Time Bomb Hiding in Plain Sight
This chart shows the projected US federal budget deficit from 2019 through 2034. In plain English, it shows how much more the government is expected to spend than it collects in revenue
The Market Thinks Inflation Is Over This Chart Says Not So Fast
This chart is making a very specific macro argument. It is asking whether today’s inflation path is starting to resemble the inflation cycle of the 1970s. The green line is current CPI.
Investors Still Barely Own Gold and That Matters
This chart is showing something surprisingly important. Gold is still a very small piece of global investable wealth. The gold line tracks gold’s private investment share of global equities and bonds over
The Market Forgot the Real Economy and This Chart Proves It
This chart shows one of the most important shifts in modern markets, and it is hiding in plain sight. Back in the early 1990s, Materials and Energy made up a much larger
What the Yield Curve Is Really Saying Right Now
This chart is a long history of the yield curve, and in plain English, it is one of the market’s best mood meters for the economy. Think of the yield curve as
Institutions Are Sending a Clear Message About the Dollar
This chart is showing one big message: the world is slowly holding less of its reserves in US dollars. Think of global foreign exchange reserves as the emergency savings account of central
China’s Power Boom Is Bigger Than Most Investors Realize
This chart is a simple picture of a very big global shift. It shows electricity generation in China versus the United States over time, measured in terawatt-hours. The US line is mostly
The Smartest Money in the World Is Buying Gold Aggressively
This chart shows one of the most important quiet shifts in the global macro story. Central banks have been buying gold at a pace that stands far above the old normal, and
From 39 Trillion to 64 Trillion The Macro Story Is Clear
This chart shows the long arc of US public debt outstanding, stretching from the early 1900s all the way to a projected 2036 level of 64 trillion dollars. The shape is the
