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Weekly market commentary by Hedge Fund Manager Erik Townsend and interviews with the brightest minds in the world of finance and macroeconomics. Made possible by funding from Fourth Turning Capital Management, LLC
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Thursday Oct 13, 2022
Thursday Oct 13, 2022
MacroVoices welcomes Tressis Chief Economist, Daniel Lacalle to the show. They discuss the Macro outlook in Europe and Daniel says the dire economic situation in Europe is entirely the making of EU policymakers, not Vladimir Putin. https://bit.ly/3VoY9FS
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Comments (4)
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Eric claims that Germans will die this Winter because of the sabotaging of the Nord stream pipeline. But Daniel contradicts this: he says that it will be a price problem only. There clearly has to be a calculus here: what is the less risky course of action? Continuing to fund Putin’s military action, or risking an energy crisis during a mild Winter?
Thursday Oct 13, 2022
Daniel himself explains why the EU chose to rely on Russian gas, and he states that they had no other choice. They therefore cannot be criticized for doing something about which they had no choice, right? But perhaps they had other choices (nuclear, or using their own gas). The point is that they first criticise Europe for doing the wrong thing, but then state that they had no choice. This is contradictory.
Thursday Oct 13, 2022
You can blame the Europeans for unwise reliance on Russian gas, but it was unwise because of Putin’s nefariousness. You are denying the proximate cause (the morally relevant one) and seeking an intermediate cause (but why only go back that far? How far back do you want to go back?). Neither Eric nor Daniel state what they think the West’s appropriate response to Putin’s invasion was. If they criticise the response, they surely should have suggestions of their own, but they do not.
Thursday Oct 13, 2022
Why does it need to be so polarised? It isn’t plausible to say that Putin has nothing to do with the situation in Europe.
Thursday Oct 13, 2022
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