“Inflation was going to come down on its own without a 500-basis-point rise,” Starwood Capital’s Barry Sternlicht says of Jay Powell’s rate path. “He has a problem coming if he doesn’t lower rates.”     -CNBC, via X, 6/5/24 Starwood Capital CEO Barry Sternlicht: Fed rate hikes aren’t impacting this job market.     –Same CNBC interview as above, via X, 6/5/24 With only 200,000 multifamily completions coming by 2026, I will guarantee you rents will be going up.    

The Gold Pool (1961-1968) was one of the most ambitious cases of central bank cooperation in history. Major central banks pooled interventions – sharing profits and losses – to stabilize the dollar price of gold. Why did it collapse? From at least 1964, the fate of the Pool was in fact tied to sterling, the first line of defense for the dollar. Sterling’s unsuccessful devaluation in November 1967 spurred speculation and massive losses for the

The real threat to the U.S. in the future is not China, but rather the U.S. itself. … That’s because it has not yet realized that a big era is coming and the financial capitalism that the U.S. represents will reach its peak and then start falling. On the one hand, the U.S. has already taken full advantage of benefits that capital generates. On the other hand, via the technological innovation that the U.S. leads,