Michael Howell & Raoul Pal: Liquidity Cycle Masterclass

This podcast features Raoul Pal interviewing Mike Howell about global liquidity cycles and their impact on various asset classes. The discussion analyzes the current state of liquidity in the US, focusing on the Federal Reserve's actions and the Treasury's funding strategies. Howell highlights the challenges posed by China's debt deflation and the need for significant monetary expansion. Pal and Howell explore the potential for a US-China deal to influence global liquidity and the role of the dollar's strength as a negotiating tool. The conversation concludes with a discussion on the implications for investors, emphasizing the importance of considering monetary inflation and the potential for wealth transfer between generations.