Image Source: Pexels

Zero interest rates didn’t exist for 4,000 years of recorded history. Now CrossBorder Capital founder Michael Howell believes we’re about to find out why.

Howell developed his framework for tracking global liquidity while working at Salomon Brothers, where he watched capital move across trading desks in real time. One core insight: the ratio between debt and liquidity—not debt-to-GDP—is what actually predicts financial crises and asset bubbles.

In this interview we cover:

• How policymakers created the “everything bubble” with zero rates and excess liquidity
• Why $70 trillion of debt must be refinanced every year
• What happens as that debt comes due while Fed liquidity slows
• How to think about asset allocation at different points in the cycle
• Why China is driving gold prices higher

Video Length: 00:54:41

More By This Author:

Will OpenAI Be The Yahoo Of The AI Era?
Will The AI Bubble Destroy The Middle Class?
The New Space Economy Is Here