Daniel Lacalle Blog | Talkmarkets | Page 1
PhD Economist, Fund Manager

Daniel Lacalle is a PhD in Economy and fund manager. He holds the CIIA financial analyst title, with a post graduate degree in IESE and a master’s degree in economic investigation (UCV).

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US Household Saving Rate Vanishes, Credit Card Debt Soars
The United States consumption figure seems robust. An 0.9 percent rise in personal spending in April looks good on paper, especially considering the challenges that the economy faces.
Markets Are Not Prepared For A Crisis
The most common question among investors these days is when to buy the dip. Very few market participants seem to be worried about a crisis or deep recession. However, those scenarios are not entirely unimaginable.
Real Wages Fall In All Income Groups As Stimulus Backfire
Since the pandemic started in March 2020 until May 2020, central banks and governments had unveiled more than $15 trillion of stimulus, equivalent to 17% of the global economy, according to Reuters.
Food Shortages May Come From Excessive Intervention
There is a food crisis looming and there are significant concerns about grain shortages. The main reason for this is the Russian invasion of Ukraine. However, this is not the full picture...
U.S. Household Saving Rate Vanishes, Credit Card Debt Soars
The United States consumption figure seems robust. An 0.9% rise in personal spending in April looks good on paper, especially considering the challenges that the economy faces.
How Money Printing Destroyed Argentina And Can Destroy Others
The most dangerous words in monetary policy and economics are “this time is different.” The big mistake of politicians in Argentina is to believe that inflation is multicausal and that everything is solved with increasing doses of interventionism.
EC Powell’s “Soft Landing” Is Impossible
After more than a decade of chained stimulus packages and extremely low rates, the idea of a controlled explosion or a “soft landing” is impossible.
The Vacuum Effect Of The US Dollar
Years of monetary laughing gas have not diminished the strength of the US dollar as a world reserve currency, rather the opposite. Now we witness the vacuum effect. Inflows into the US dollar in a period of risk aversion.
Chinese Slowdown, Much More Than COVID
The most recent macroeconomic figures show that the Chinese slowdown is much more severe than expected and not only attributable to the covid-19 lockdowns.
New EU Sanctions May Backfire And Benefit China
The proposals of the European Union and the United States to implement a complete energy embargo on Russia must consider reality. Asia is importing all that Russia can offer.
How Russia Tries To Avoid Sanctions
There are numerous headlines showing the surprising recovery of the Russian ruble against the US dollar and the euro. By the first week of April the Russian currency had recovered all the losses against the greenback and the euro area currency.
The Stupidity Of Autarchy
The invasion of Ukraine, the spike in inflation and the risks of supply shortages have made some politicians dust off some of the worst economic ideas in history: Autarchy and protectionism.
Will Saudi Arabia Ditch The US Dollar?
There are numerous articles mentioning that Saudi Arabia may use the Yuan, China’s domestic currency, for its oil exports.
Europe Energy Independence Is Impossible With The Current Policies
Europe is not going to achieve a competitive energy transition with the current interventionist policies. Europe does not depend on Russian gas due to a coincidence, but because of a chain of mistaken policies.
Commodities Do Not Cause Inflation. Money Printing Does
In this world of monetary insanity, defenders of central banks' easing will try to convince you that inflation is caused by numerous factors, not by currency printing. Many blame inflation on cost-push factors, but those are consequences, not causes.
The Impact Of A SWIFT Ban On Russia And The World
The United States and the European Union have announced restrictions on the Russian central bank that block access to more than $600 billion in reserves.
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