Daniel Lacalle

The EU should support tech giants, not attack them

The EU should support tech giants, not attack them

The position of the European Union (Brussels) and some economic commentators on technology multinationals should not surprise us. However, it is totally wrong. It is a short-sighted view, oriented from an incorrect fiscal point of view, and it hides a bigger problem. Europe has lost the technology and innovation race, and it will not recover its […]

 Daniel Lacalle

Trump’s Budget Blueprint Is A Real Game Changer

Trump’s Budget Blueprint Is A Real Game Changer

IN FAVOUR: The United States is once again approaching a debt ceiling that, as before, will likely be raised again. However, when Trump’s budget director, Mick Mulvaney, says the country’s $20 trillion debt is a “national crisis,” he is right. At a rate of more than $500 billion a year in deficits, the risk to the […]

 Daniel Lacalle

Are You Prepared For The End Of The Bond Bubble?

Are You Prepared For The End Of The Bond Bubble?

Published by @Hedgeye (here) The biggest bubble in financial history is about to end. With rate hikes, a stronger dollar and the return of inflation, bond inflows are normalizing, sell-off in negative yield fixed incme continues, and real rates increase despite central planners’ financial repression.High High-yield bond funds saw their biggest outflows since December 2014 last […]

 Daniel Lacalle

Regulation Does Not Prevent Crises. Here Is Why

Regulation Does Not Prevent Crises. Here Is Why

If you read articles and books about the crisis, I am sure you will find a common denominator about the main cause, at least in mainstream press “Taking an excessive risk”. And it is partially correct. But, on many occasions, commentators fail to explain why this happens. Why changes in our brain that takes us […]

 Daniel Lacalle

La OPEP se pone nerviosa, y los inflacionistas también

“Life’s been good to me so far” Joe Walsh

Este martes la OPEP presentó su informe mensual y, mientras lo leía, me acordaba de aquella frase de un artista de Rock olvidado, “no es que tengamos poca audiencia, es que somos más selectivos”. Si a ustedes les dicen hace unos meses que el petróleo, a cierre de este artículo, iba a cotizar el WTI […]

 Daniel Lacalle

Por qué la regulación no evita las crisis

“Nobody think the way I do, I guess that nobody cares. Your head's so full of things, so set your mind free of them, I'm breaking the rules” Ozzy Osbourne

Si usted lee artículos y libros sobre la crisis, estoy seguro de que encontrará un denominador común sobre la causa, al menos en términos generales. “Exceso de riesgo”. Y no les falta razón. Pero, en muchas ocasiones, se ignora por qué. ¿Por qué se da ese cambio en el chip de nuestro cerebro que pasa […]

 Daniel Lacalle

¿Está usted preparado para el fin de la burbuja de bonos?

“From first to last, the peak is never passed” Neil Peart

El precio del petróleo caía a mínimos de tres meses ante la evidencia de lo que hemos comentado en esta columna tantas veces. La inutilidad del recorte de la OPEP y asociados, que ha generado mayor producción de Estados Unidos, y un aumento récord de inventarios. Ya lo explicamos en este vídeo (el verdadero impacto […]

 Daniel Lacalle

Vídeo:¿Cómo se puede bajar el precio de la luz?

La Pizarra

En esta ocasión hablamos del precio de la luz. Aunque ha bajado la presión mediática con respecto a este tema, tras el aumento de las temperaturas, el precio ha bajado. Pero, ¿se puede reducir más el precio de la factura de la luz?

 Daniel Lacalle

Video: Are Central Banks Behind The Curve? Opportunities in Europe and the US

Video: Are Central Banks Behind The Curve? Opportunities in Europe and the US

In this short video we mention the risks of central banks delaying tightening decisions, the recent trend in earnings and economic growth and why we still like equities. Daniel Lacalle. PhD in Economics and author of “Life in the Financial Markets”, “The Energy World Is Flat” (Wiley) and forthcoming “Escape from the Central Bank Trap”. […]

 Daniel Lacalle

BANCOS CENTRALES Y OPORTUNIDADES

BANCOS CENTRALES Y OPORTUNIDADES

¿Están los Bancos Centrales perdiendo la iniciativa? Hoy hablamos sobre las oportunidades para EEUU y UE en este entorno.

 Daniel Lacalle

La Marimorena (12/03/2017)

El pasado domingo 12 de marzo estuvimos debatiendo sobre el Impuesto de Sucesiones. Uno de los impuestos más injustos y confiscatorios que existen.

 Daniel Lacalle

Five Reasons Why Oil Doesn’t Go Up

Five Reasons Why Oil Doesn’t Go Up

It seems oil prices remain stuck in a very tight range and, more recently, in a  bearish trend. The lateral range of $50-55 was recently broken and the new long-term support level is closer to $47 than $50. There are various reasons for this. a) The OPEC-non OPEC deal is unsustainable. We read everywhere that compliance […]

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