Macro Voices

By Hedge Fund Manager Erik Townsend

Business Investing

What's Macro Voices about?

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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MacroVoices #395 Simon Whit...

09.28.2023

MacroVoices Erik Townsend and Patrick Ceresna welcome back Bloomberg’s Macro Strategist, Simon White to the show. Simon and Erik will discuss inflation, deflation and stock bond correlation. https://bit.ly/3tbJEeY Download Simon's Charts: Simon White - MacroVoices 28 2023 Check out Energy ...

Macro Voices episodes:

09.28.2023 MacroVoices #395 Simon White: Inflation, Stocks & Why TINA is Coming Back MacroVoices Erik Townsend and Patrick Ceresna welcome back Bloomberg’s Macro Strategist, Simon White to the show. Simon and Erik will discuss inflation, deflation and stock bond correlation. https://bit.ly/3tbJEeY Download Simon's Charts: Simon White - MacroVoices 28 2023 Check out Energy ...
09.21.2023 MacroVoices #394 Louis-Vincent Gave: China, Energy & More MacroVoices Erik Townsend and Patrick Ceresna welcome back Gavekal co-founder, Louis-Vincent Gave to the show. Louis and Erik will discuss the economic situation in China, inflation, energy prices, and much more. https://bit.ly/3rlVliz Check out Energy Transition Crisis on YouTube: https://www.youtube.com/@EnergyTransitionCrisis1 ...
09.14.2023 MacroVoices #393 Harley Bassman: Convexity Spells Opportunity MacroVoices Erik Townsend and Patrick Ceresna welcome Convexity Maven Harley Bassman to the show. Harley says why take credit risk when the market is paying traders who understand convexity more handsomely. They also discuss inflation and the other usual macro ...
09.07.2023 MacroVoices #392 Jesse Felder: Questioning the Soft Landing Narrative MacroVoices Erik Townsend and Patrick Ceresna welcome Jesse Felder to the show. They discuss the many reasons Jesse is questioning the soft landing narrative and expecting more turbulence for the stock market. Then Erik shares his exciting commodity trade idea ...
08.31.2023 MacroVoices #391 Brent Johnson: The Dollar Is Not Done MacroVoices Erik Townsend and Patrick Ceresna welcome Santiago Capital founder Brent Johnson to the show. They discuss the reasons Brent thinks the U.S. Dollar bull market isn’t over yet, and why Brent thinks new highs for the dollar index are ...
08.24.2023 MacroVoices #390 Matt Barrie: The awesome power and risk of Artificial Intelligence In this summer special episode, Erik Townsend welcomes Freelancer.com CEO Matt Barrie to the show for an extra long interview to discuss the macro impacts and knock-on effects of Artificial Intelligence. Market wrap and postgame segment will resume next week. ...
08.17.2023 MacroVoices #389 Justin Huhn: Update On All Things Nuclear MacroVoices Erik Townsend and Patrick Ceresna welcome Uranium Insider founder and publisher Justin Huhn to the show. They begin with a review of the near-to-medium term bull case for uranium mining stocks before moving on to a longer-term discussion about ...
08.10.2023 MacroVoices #388 Lakshman Achuthan: Recession Still On Deck MacroVoices Erik Townsend and Patrick Ceresna welcome ECRI co-founder Lakshman Achuthan to the show to discuss the business cycle and why the expected recession is taking longer than expected to arrive before moving on to discuss whether a new secular ...
08.03.2023 MacroVoices #387 Jeff Snider: On Deflation and Soft Landing MacroVoices Erik Townsend and Patrick Ceresna welcome Jeff Snider to the show to discuss the inflation story over one of Jeff’s infamous chart decks and whether the “soft landing” forecast that’s become popular is accurate. https://bit.ly/3QlP5RZ Download Jeff’s Charts: https://bit.ly/459utkc ...
07.27.2023 MacroVoices #386 Lyn Alden: Energy, Inflation & much more MacroVoices Erik Townsend and Patrick Ceresna welcome Lyn Alden to the show to take a deep dive on energy, everything from crude oil to natural gas to shale depletion rates. And finally, uranium before moving on to talk in depth ...
07.20.2023 MacroVoices #385 Dr. Anas Alhajji: 2024 Energy Markets Outlook & More MacroVoices Erik Townsend and Patrick Ceresna welcome Dr. Anas Alhajji to the show to discuss everything from an update on his market outlook to why Chinese reopening didn’t have the demand recovery effect so many of us predicted. https://bit.ly/43OUvbz ⭐️Join ...
07.13.2023 MacroVoices #384 Darius Dale: Blow-Off Top Coming Before Bears Get Validated MacroVoices Erik Townsend and Patrick Ceresna welcome 42 Macro founder Darius Dale to the show to discuss what the bears got wrong, why Darius thinks there’s still some upside left in the stock market, before it ultimately reverses direction to ...
07.06.2023 MacroVoices #383 Juliette Declercq: Update on Immaculate Disinflation Thesis MacroVoices Erik Townsend and Patrick Ceresna welcome JDI Research founder Juliette Declercq to the show to discuss why she thinks we’re in an immaculate disinflation, and what she sees on the horizon for markets. https://bit.ly/3O1WHrr Download Juliette’s charts: https://bit.ly/3pyYn2f ⭐️Join ...
06.29.2023 MacroVoices #382 Dr. Pippa Malmgren: A Tale of Two Civil Wars MacroVoices Erik Townsend and Patrick Ceresna welcome best-selling author and geopolitical commentator Dr. Pippa Malmgren to the show. They discuss the aborted coup in Russia last weekend before moving on to issues affecting the United States. https://bit.ly/3CQ9KG3 Check out Pippa's ...
06.22.2023 MacroVoices #381 Leigh Goehring: Global Food Crisis Update MacroVoices Erik Townsend and Patrick Ceresna welcome Goehring & Rozencwajg founder Leigh Goehring to the show and the topic is an update on the formative global food crisis resulting from more of the world’s economies advancing to the point where ...
06.15.2023 MacroVoices #380 Jim Bianco: FOMC to China to Dollar to AI MacroVoices Erik Townsend and Patrick Ceresna welcome Bianco Research founder Jim Bianco to the show to discuss the FOMC statement, the Fed’s hawkish pause, where rates and stock prices are headed, and much more. https://bit.ly/3Cy5V84 Download Big Picture Trading chartbook
06.08.2023 MacroVoices #379 Bill Blain: Inflation, Central Banks, BRICS, Geopolitics, Alternative Assets & more MacroVoices Erik Townsend and Patrick Ceresna welcome Bill Blain to the show to discuss whether inflation is transitory, sticky, or secular, the outlook for yields and equity markets, artificial intelligence, precious metals, and much more. https://bit.ly/42KlbcZ Download Big Picture Trading ...
06.01.2023 MacroVoices #378 Ronnie Stoeferle: In Gold We Trust - Showdown MacroVoices Erik Townsend and Patrick Ceresna welcome Ronnie Stoeferle to the show to discuss all things precious metals - from the fundamental outlook to likely possibility of an even deeper correction than we’ve seen so far before the yellow metal ...
05.25.2023 MacroVoices #377 Daniel Lacalle: On The Road To Stagflation MacroVoices Erik Townsend and Patrick Ceresna welcome Tressis chief economist Daniel Lacalle to the show to discuss the European macroeconomic situation, where markets and the economy are headed in the 2nd half of 2023, China and Taiwan, the emergent BRICS ...
05.18.2023 MacroVoices #376 Tian Yang: When the Recession Becomes Obvious Erik Townsend and Patrick Ceresna welcome Variant Perception CEO Tian Yang to the show to discuss the long-awaited U.S. recession, and the final flush in U.S. equity markets, which Tian says is still to come. Tian will also share a ...
05.11.2023 MacroVoices #375 Mike Green: Banking Crisis, Debt Ceiling, De-dollarization and more MacroVoices Erik Townsend and Patrick Ceresna welcome Simplify Asset Management’s chief market strategist Mike Green to the show to discuss the banking crisis, the debt ceiling debacle, de-dollarization, artificial intelligence and much more. https://bit.ly/3VWbLsW Vanguard's trillion-dollar man leads a fixed-income ...
05.04.2023 MacroVoices #374 Chris Whalen: Are More Banks Going To Fail? MacroVoices Erik Townsend and Patrick Ceresna welcome Whalen Global Advisors founder Chris Whalen to the show to discuss the formative banking crisis, what’s driving it, and what comes next. They also touch on the outlooks for stocks and precious metals. ...
04.27.2023 MacroVoices #373 Ole Hansen: Commodities Update MacroVoices Erik Townsend welcomes Saxo Bank Chief Commodities strategist Ole Hansen to the show to discuss the broader commodities bull market and the role interest rates play in contango and backwardation. Then they drill down on specific commodities including crude ...
04.20.2023 MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In MacroVoices Erik Townsend and Patrick Ceresna welcome Rosenberg Research founder David Rosenberg to the show. Rosie says the bottom isn’t in yet for the stock market, and the long-awaited recession has finally begun now. They also discuss precious metals, bond ...
04.13.2023 MacroVoices #371 Larry McDonald: Fed Will Be Forced To Cut By The End Of The Year MacroVoices Erik Townsend and Patrick Ceresna welcome best selling author and The Bear Traps Report editor Larry Mcdonald to the show to discuss the upcoming debt ceiling debate and how it will play into Federal Reserve policy, as well as ...
04.06.2023 MacroVoices #370 Adam Rozencwajg: Energy, Gold, Copper & Uranium MacroVoices Erik Townsend and Patrick Ceresna welcome Goehring & Rozencwajg co-founder Adam Rozencwajg to the show to discuss energy, gold, copper and much more. https://bit.ly/3ZO72Kf Download Big Picture Trading chartbook
03.29.2023 MacroVoices #369 Dr. Pippa Malmgren: Perspective on the Further Geopolitical Escalation MacroVoices Erik Townsend welcomes Dr. Pippa Malmgren to the show to discuss the escalating geopolitical situation, including Pippa’s views that the Pentagon played a role in orchestrating the Silicon Valley Bank bailout to protect defense technology interests, and that China ...
03.23.2023 MacroVoices #368 Charlie McElligott: Banking Crisis, FOMC, 0DTE, CTAs & more MacroVoices Erik Townsend welcomes Nomura’s Charlie McElligott to the show to discuss the formative banking crisis, monetary policy including yesterday’s 25 bps hike into the banking crisis, how to trade the Fed boxing itself into a corner, 0DTE options, abysmal ...
03.16.2023 MacroVoices #367 Luke Gromen: USD Update in the Wake of SVB Collapse MacroVoices Erik Townsend welcomes Forest for the Trees founder Luke Gromen to the show to discuss how the US Dollar has fared in the wake of central bank divestitures and Luke’s outlook for the dollar and other markets in the ...
03.09.2023 MacroVoices #366 Louis-Vincent Gave: Staying Humble in Troubling Times MacroVoices Erik Townsend welcomes Louis-Vincent Gave to the show to discuss a number of big-picture factors driving the markets, ranging from geopolitical escalation risks to Chinese demand to why precious metals haven’t responded more to geopolitical risk escalation. https://bit.ly/3mzsKDH Download ...
03.02.2023 MacroVoices #365 Dr. Anas Alhajji: Energy Markets and Lessons Learned Since the Russian Invasion MacroVoices Erik Townsend welcomes Dr. Anas Alhajji to the show. Anas predicted President Biden’s recent announcement that another 23mm BBL of crude oil would be released from the U.S. SPR months before it happened. They discuss the SPR and Anas’ ...
02.23.2023 MacroVoices #364 Julian Brigden: On Opportunistic Disinflation MacroVoices Erik Townsend welcomes MI2 founder Julian Brigden to the show to discuss inflation, treasury yields, Fed policy, bond market outlook, stocks, precious metals and more. Then former U.S. Presidential Advisor Dr. Pippa Malmgren joins in postgame for a quick ...
02.16.2023 MacroVoices #363 Lakshman Achuthan: Immaculate Disinflation Debunked MacroVoices Erik Townsend welcomes ECRI co-founder Lakshman Achuthan to the show. They revisit Lak’s recession call from last summer, which he’s still committed to. They also examine the growth, business and inflation cycles along with ECRI’s leading indicators which are ...
02.14.2023 ENERGY DOC NEW REVISED VERSION Episode 3: Supercritical Deep Geothermal Renewable Energy Sneak preview of Erik Townsend's upcoming docuseries about the coming global energy crisis. This is a new version of this episode re-written based on listener feedback. 3rd of 5 special episodes. Download associated .PDF https://bit.ly/3IgepVg #OOTT
02.13.2023 ENERGY DOC NEW REVISED VERSION Episode 2: Origins of the mid-2020s Oil & Gas Supply Crisis Sneak preview of Erik Townsend's upcoming docuseries about the coming global energy crisis. This is a new version of this episode re-written based on listener feedback. 2nd of 5 special episodes. Download associated .PDF https://bit.ly/3IgepVg #OOTT
02.12.2023 ENERGY DOC NEW REVISED VERSION Episode 1: Why Energy Transition is the greatest challenge humanity faces Sneak preview of Erik Townsend’s upcoming docuseries about the coming global energy crisis. This is a new version of this episode re-written based on listener feedback. 1st of 5 special episodes. Download associated .PDF https://bit.ly/3IgepVg #OOTT
02.09.2023 MacroVoices #362 Jeff Snider: Soft Landing or Crash Landing? MacroVoices Erik Townsend welcomes Eurodollar University founder Jeff Snider to the show to discuss whether the Fed has really achieved the soft landing they’re crediting themselves for, credit markets, Eurodollar curves, recession outlook and more. https://bit.ly/40FI6WS Download Jeff's slidedeck: https://bit.ly/3HQZm2I ...
02.05.2023 Energy Doc Episode #5: Advanced Nuclear Solutions & Prescriptions for Solving the Crisis Sneak preview of Erik Townsend’s upcoming docuseries about the coming global energy crisis. Why it can’t be avoided, what caused it, and what it will take to solve it. Last of 5 special episodes airing Sundays. Download associated PDF https://bit.ly/3jx8zFm ...
02.02.2023 MacroVoices #361 Alex Gurevich: Jay Powell says, “Effects of tightening not yet felt.” Alex says, “No shit, Jay.” MacroVoices Erik Townsend welcomes Honte investments fund manager Alex Gurevich to the show. They discuss this week’s FOMC statement and press briefing, inflation, crude oil, interest rates, equity markets, and precious metals. https://bit.ly/40pDvrx Download Big Picture Trading chartbook
01.29.2023 Energy Doc Episode #4: What’s wrong with Nuclear Energy? Sneak preview of @ErikSTownsend’s upcoming docuseries about the coming global energy crisis. Why it can’t be avoided, what caused it, and what it will take to solve it. 4th of 5 special episodes airing Sundays in January. Download associated .PDF ...
01.26.2023 MacroVoices #360 Viktor Shvets: Inflation, Interest Rates, Equity Outlook & more MacroVoices welcomes Macquarie chief macro strategist Viktor Shvets to the show. They discuss the geopolitical outlook, inflation, bond yields, recession risk, equity market outlook, gold and much more. https://bit.ly/3WL6enD Download Big Picture Trading chartbook
01.22.2023 Energy Doc Episode #3: Supercritical Deep Geothermal Renewable Energy Sneak preview of Erik Townsend’s upcoming docuseries about the coming global energy crisis. Why it can’t be avoided, what caused it, and what it will take to solve it. 3rd of 5 special episodes airing Sundays in January. Download associated ...
01.19.2023 MacroVoices #359 Lyn Alden: 2023 Macro Outlook MacroVoices Erik Townsend welcomes Lyn Alden to the show. They revisit her crude oil outlook then dive into a slide deck exploring Lyn’s most interesting insights and perspectives for 2023. https://bit.ly/3Hif3Rw Download Lyn's chartbook: https://bit.ly/3QYL0l5 Download Big Picture Trading chartbook
01.15.2023 Energy Doc Episode #2: Origins of the mid-2020s Oil & Gas Supply Crisis Sneak preview of Erik Townsend's upcoming docuseries about the coming global energy crisis. Why it can’t be avoided, what caused it, and what it will take to solve it. 2nd of 5 special episodes airing Sundays in January. Download associated ...
01.12.2023 MacroVoices #358 Robert Friedland: Geopolitical outlook & Geothermal Energy Revisited MacroVoices Erik Townsend welcomes the founder of the Ivanhoe mining empire, Robert Friedland to the show. They discuss the geopolitical change toward a multi-polar world, the war cycle, the coming energy crisis, deep geothermal energy, and much more. https://bit.ly/3W5oDLG Download ...
01.08.2023 Energy Doc Episode #1: The Importance of Energy and Origins of the mid-2020s Energy Crisis Sneak preview of Erik Townsend's upcoming docuseries about the coming global energy crisis. Why it can’t be avoided, what caused it, and what it will take to solve it. 1st of 5 special episodes airing Sundays in January. https://bit.ly/3GOtE72 #OOTT ...
01.05.2023 MacroVoices #357 Darius Dale: The Recession is Coming But Not Until the Second Half MacroVoices Erik Townsend welcomes 42 Macro founder Darius Dale to the show. Darius told us one year ago that 2022 could be a crash year for the stock market, and needless to say he got the bear call right. They ...
12.29.2022 MacroVoices #356 Justin Huhn: Investing in All Thing Nuclear MacroVoices Erik Townsend welcomes Uranium Insider newsletter editor Justin Huhn to the show to discuss the overall investment argument for nuclear energy and understanding the nuclear fuel cycle and how to invest in it and much more. https://bit.ly/3VvHsYn Download chartbook: ...
12.22.2022 MacroVoices #355 Mark Nelson: Understanding All Things Nuclear In this first part of holiday special, MacroVoices welcomes nuclear engineer Mark Nelson to the show to discuss all things nuclear. Erik and Mark start with a brief history of the industry, then talk about both real and perceived problems ...
12.15.2022 MacroVoices #354 Jim Bianco: CPI, FOMC, China & More MacroVoices welcomes Bianco Research founder Jim Bianco to the show to discuss the latest CPI data and Federal Reserve statement and press briefing. Then we’ll get Jim’s insights on news most people missed: China’s announcements that they’ll stop reporting COVID ...

Older episodes

Macro Voices

What's Macro Voices about?

Download our free app to listen on your phone

Macro Voices episodes:

MacroVoices #395 Simon White: Inflation, Stocks & Why TINA is Coming Back

MacroVoices #394 Louis-Vincent Gave: China, Energy & More

MacroVoices #393 Harley Bassman: Convexity Spells Opportunity

MacroVoices #392 Jesse Felder: Questioning the Soft Landing Narrative

MacroVoices #391 Brent Johnson: The Dollar Is Not Done

MacroVoices #390 Matt Barrie: The awesome power and risk of Artificial Intelligence

MacroVoices #389 Justin Huhn: Update On All Things Nuclear

MacroVoices #388 Lakshman Achuthan: Recession Still On Deck

MacroVoices #387 Jeff Snider: On Deflation and Soft Landing

MacroVoices #386 Lyn Alden: Energy, Inflation & much more

MacroVoices #385 Dr. Anas Alhajji: 2024 Energy Markets Outlook & More

MacroVoices #384 Darius Dale: Blow-Off Top Coming Before Bears Get Validated

MacroVoices #383 Juliette Declercq: Update on Immaculate Disinflation Thesis

MacroVoices #382 Dr. Pippa Malmgren: A Tale of Two Civil Wars

MacroVoices #381 Leigh Goehring: Global Food Crisis Update

MacroVoices #380 Jim Bianco: FOMC to China to Dollar to AI

MacroVoices #379 Bill Blain: Inflation, Central Banks, BRICS, Geopolitics, Alternative Assets & more

MacroVoices #378 Ronnie Stoeferle: In Gold We Trust - Showdown

MacroVoices #377 Daniel Lacalle: On The Road To Stagflation

MacroVoices #376 Tian Yang: When the Recession Becomes Obvious

MacroVoices #375 Mike Green: Banking Crisis, Debt Ceiling, De-dollarization and more

MacroVoices #374 Chris Whalen: Are More Banks Going To Fail?

MacroVoices #373 Ole Hansen: Commodities Update

MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In

MacroVoices #371 Larry McDonald: Fed Will Be Forced To Cut By The End Of The Year

MacroVoices #370 Adam Rozencwajg: Energy, Gold, Copper & Uranium

MacroVoices #369 Dr. Pippa Malmgren: Perspective on the Further Geopolitical Escalation

MacroVoices #368 Charlie McElligott: Banking Crisis, FOMC, 0DTE, CTAs & more

MacroVoices #367 Luke Gromen: USD Update in the Wake of SVB Collapse

MacroVoices #366 Louis-Vincent Gave: Staying Humble in Troubling Times

MacroVoices #365 Dr. Anas Alhajji: Energy Markets and Lessons Learned Since the Russian Invasion

MacroVoices #364 Julian Brigden: On Opportunistic Disinflation

MacroVoices #363 Lakshman Achuthan: Immaculate Disinflation Debunked

ENERGY DOC *NEW REVISED VERSION* Episode 3: Supercritical Deep Geothermal Renewable Energy

ENERGY DOC *NEW REVISED VERSION* Episode 2: Origins of the mid-2020s Oil & Gas Supply Crisis

ENERGY DOC *NEW REVISED VERSION* Episode 1: Why Energy Transition is the greatest challenge humanity faces

MacroVoices #362 Jeff Snider: Soft Landing or Crash Landing?

Energy Doc Episode #5: Advanced Nuclear Solutions & Prescriptions for Solving the Crisis

MacroVoices #361 Alex Gurevich: Jay Powell says, “Effects of tightening not yet felt.” Alex says, “No shit, Jay.”

Energy Doc Episode #4: What’s wrong with Nuclear Energy?

MacroVoices #360 Viktor Shvets: Inflation, Interest Rates, Equity Outlook & more

Energy Doc Episode #3: Supercritical Deep Geothermal Renewable Energy

MacroVoices #359 Lyn Alden: 2023 Macro Outlook

Energy Doc Episode #2: Origins of the mid-2020s Oil & Gas Supply Crisis

MacroVoices #358 Robert Friedland: Geopolitical outlook & Geothermal Energy Revisited

Energy Doc Episode #1: The Importance of Energy and Origins of the mid-2020s Energy Crisis

MacroVoices #357 Darius Dale: The Recession is Coming But Not Until the Second Half

MacroVoices #356 Justin Huhn: Investing in All Thing Nuclear

MacroVoices #355 Mark Nelson: Understanding All Things Nuclear

MacroVoices #354 Jim Bianco: CPI, FOMC, China & More

Other shows like Macro Voices:

ENERGY DOC NEW REVISED VERSION Episode 3: Supercritical Deep Geothermal Renewable Energy

ENERGY DOC NEW REVISED VERSION Episode 2: Origins of the mid-2020s Oil & Gas Supply Crisis

ENERGY DOC NEW REVISED VERSION Episode 1: Why Energy Transition is the greatest challenge humanity faces