Martin Hutchinson | TalkMarkets | Page 3
Columnist at The Bear's Lair
Martin O. Hutchinson is an investment banker with more than 25 years’ experience, Hutchinson has worked on both Wall Street and Fleet Street and is a leading expert on the international financial markets. At Creditanstalt-Bankverein, Hutchinson was a Senior Vice President in charge of the ...more

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The Soaring Senility Market
The real technological frontier for elder care will be in allowing seniors to remain in their own homes for longer. The principal factor forcing seniors into care homes is their frailty, and the cost of monitoring them on a 24-hour basis.
Time Preference In Reverse
Time preference for rational investors has gone into reverse; it is worth discussing the strategies and economic implications of this bizarre phenomenon.
The Incredible Shrinking U.S. Economy
The devastating continued decline in U.S. living standards will have an effect on U.S. geopolitical influence. The country will no longer be able to afford its current global commitments.
Creating An Innovation Economy
Since technological innovation is key to our future prosperity and indeed happiness, it is perhaps worth reviewing how better approaches in the past have produced better results.
The Deflationary Decades Ahead
Inflation will not disappear soon, and the Fed will not raise rates far enough to control it, but the next decade or more will inevitably see a bear market in bonds and in asset values.
The Globalization Tyranny
The free trading idea of globalization that we were sold in the 1990s is an attractive concept.
1930s, Here We Come
Pundits all over the media are proclaiming gloomily that we are in for a re-run of the 1970s. It is not the 1970s, it is the 1930s, albeit with rather more inflation.
Death Spirals
As the negative real rate of interest gets more severe, it pushes inflation up further, causing a death spiral that is eventually solved by a sharp surge in bond rates and an economic crash.
The Weimarization Of Japan
The Bank of Japan has indicated that it will buy Japan Government bonds in an indefinite amount at a yield of 0.25% — thus refusing to share in the belated tightening policies of other central banks.
Apocalypse Now?
With 35% of the world’s grain supply subject to the disruption of the Russia-Ukraine war, it seems likely that the next six months will see a disruption in global food supplies, in some areas causing famine.
The Bear’s Lair: Ban The Bonds!
Standard investment textbooks and advisors mandate that you should have a percentage of bonds in your portfolio, the percentage rising with age (my Vanguard page advises me to have fully 70% of my money in them).
Companies Are Better Off Without Management
Would today’s corporations be better off if they operated without any top management at all?
Why Would You Want To Preserve This Economy?
Financial media are now worrying that, if the Fed is even hawkish enough to raise rates by 0.5% instead of 0.25% at its meeting in March, the U.S. and global economies will tank.
Coal – Wonder-Fuel Of The Future
In November and December 2021, China’s coal consumption rose to record levels, well over half the world’s total.
De-Financializing The Global Economy
Since 1980, the global economy has become increasingly financialized – by all measures, the ratio of debt to GDP has steadily increased.
Will The Metaverse Kill Civilization?
The Metaverse, as visualized by Zuckerberg and his competitors, will be even more immersive and addictive than video games and social media.
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