WTFinance – Détails, épisodes et analyse

Interview recorded - 13th of March 2025

On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Oliver. Michael is the founder of Momentum Structural Analysis.

During our conversation we spoke about the current risk of a recession, what this means for markets, why there could be a long bear market, gold, the commodity super cycle and more. I hope you enjoy!

0:00 - Introduction
1:17 - Thoughts on markets?
6:13 - How do you define a market?
10:51 - Surprised about market strength?
20:51 - Dollar to come down
22:11 - Recession
24:41 - Gold
32:26 - Commodity super cycle?

J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, headquartered in New York City's Battery Park.  He studied under David Johnston, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980s Mike began to develop his own momentum-based method of technical analysis.  He learned early on that orthodox price chart technical analysis left many unanswered questions and too often deceived those who trusted in price chart breakouts, support/resistance, and so forth.

In 1987 Mike technically anticipated and caught the Crash.  It was then that he decided to develop his structural momentum tools into a full analytic methodology.

In 1992 the Financial VP and head of Wachovia Bank's Trust  Department asked Mike to provide soft dollar research to Wachovia.  Within a year, Mike shifted from brokerage to full-time technical research.  He is also the author of The New Libertarianism: Anarcho-Capitalism.

Michael Oliver - 

Website - https://www.olivermsa.com/
Twitter - https://twitter.com/Oliver_MSA

WTFinance -

Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 15th of March, 2025

On this episode of the WTFinance podcast I have the pleasure of welcoming on Dr Steve Keen. Steve is a critically acclaimed economist who is looking to debunk traditional economics.

During our conversation we spoke about the current state of the global economy, why economists have everything wrong, why Trump should not be cutting the deficit, what this will lead to and more. I hope you enjoy!

0:00 - Introduction
1:19 - Overview of global economy
3:24 - Why is cutting the deficit wrong?
6:26 - Government spending sustainable?
20:19 - UK poor example
21:01 - Best deficit?
23:46 - Interest rates not an issue
30:31- Financialisation
39:46 - One message to takeaway from our conversation?

Steve Keen is an Australian economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific, and empirically unsupported.

Keen was formerly an associate professor of economics at University of Western Sydney. In 2014, he became a professor and Head of the School of Economics, History and Politics at Kingston University in London. He has since taken retirement and is crowd source funded to undertake independent research as well as being a Distinguished Research Fellow at the Institute for Strategy Resilience & Security, University College London.

Steve Keen -

YouTube -  @ProfSteveKeen  
Substack - https://profstevekeen.substack.com/
Website - https://www.stevekeenfree.com/free-book7
X - https://x.com/ProfSteveKeen

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 2nd of February, 2025

On this episode of the WTFinance podcast I had  the pleasure of welcoming back Warwick Powell. Warwick as an Adjunct Professor at the Queensland University of Technology working at the intersection of China, digital technologies, supply chains, financial flows and global political economy & governance.

During our conversation we spoke about tariffs, potential retaliations, the hollowing out of Western manufacturing, the new world order, worlds need for dollars, Chinese self sufficiency, deep seek and more. I hope you enjoy!

0:00 - Introduction
1:53- Tariffs
5:53 - Chinese retaliation?
9:38 - Does US have a reason to implement tariffs?
14:33 - Hollowing of Western manufacturing
17:21 - Link to financialisation and globalisation?
19:53 - World need dollars
22:23 - US consumption
25:53 - China being self sufficient
28:28 - China greater risk of external factors?
32:43 - Limitation of growing manufacturing
36:07 - Deep seek
41:13 - Opensource in China?
43:58- Soft power
45:21 - Global economic change
47:58 - One message to takeaway?

Warwick began his career in academia, teaching Chinese history and European cultural history at Griffith University. He graduated with First Class Honours and is the recipient of the prestigious University Medal for Academic Excellence. Warwick was also awarded a Department of Foreign Affairs and Trade scholarship to undertake postgraduate studies at People’s University, Beijing. He deferred his studies to begin work for Kevin Rudd in the Queensland Government.

He is the chairman and founder of Sister City Partners Limited, a not-for-profit investment bank focusing on developing links between regional Australia and the markets of Asia. Through this work, Warwick has experience in diverse industries including cattle and sheep production and processing, information and communication technology, infrastructure, energy, natural resources, travel and tourism and property development.

He is a director of a number of funds management companies responsible for funds established under an ASIC-approved Australian Financial Services License. He is a member of the Central Highlands Accelerate Agribusiness Advisory Board and was the founding Treasurer of Innovation NQ Inc., a not-for-profit innovation incubator in North Queensland.

He continues to teach professional courses in areas such as innovation, creativity, regional economic development and blockchain technology with James Cook University, QUT and Edith Cowan University.

Warwick Powell: 

LinkedIn - https://au.linkedin.com/in/warwickpowell
Substack - https://substack.com/@warwickpowell 
Twitter - https://x.com/baoshaoshan

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 19th of October, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming back Doomberg . 

During our conversation we spoke about whether the US is still driving enemies together, current Middle East conflict impact on energy, Europe this winter and more. I hope you enjoy! 

0:00 - Introduction
1:09 - Is the US continuing to drive enemies together?
3:34 - Greatest risk from the middle east conflict?
5:19 - Impact on energy security?
8:34 - Geopolitical risks globally
10:34 - What is happening in energy?
12:14 - Underestimating chance of a recession in the US?
14:39 - Where is the risk?
16:22 - Venezuela oil a benefit?
19:09 - Will Europe be ok this winter?
21:58 - One message to takeaway from our conversation?

The group started writing Doomberg in May of 2021 to highlight the fundamentals missing from many economic and policy decisions, and it quickly grew to be one of the most widely read finance newsletters on Substack.

This publication is their passion, and the content is borne out of the team’s deep experience in heavy industry, private equity, and the hard sciences. Family offices and c-suite executives hired them to deliver innovative thinking and clarity to complex problems – they operate as though their subscribers share those same expectations.

Read their full bio here - https://doomberg.substack.com/about

Doomberg - 

Substack - https://doomberg.substack.com/
Twitter - https://twitter.com/DoombergT

WTFinance 

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 20th of October, 2023


On this episode of the WTFinance podcast I had the pleasure of speaking with Michael Howell - Founder & Managing Director of CrossBorder Capital.

During our conversation we spoke about what is currently happening in liquidity markets, whether the FED could go towards yield control, whether all liquidity is created equal, disconnect between inflation and bond prices and more. I hope you enjoy!

0:00 - Introduction
1:40 - What is currently happening in liquidity markets?
4:08 - Will Powell let the bond markets take control?
6:15 - Could the FED go towards yield control?
8:35 - Will they have to bring in financial repression?
13:18 - Potential for another bank financial crisis?
15:45 - Bigger liquidity required for the financial system
31:45 - Is all liquidity created equal or will we see diminishing returns?
33:53 - What does increasing liquidity mean for markets?
39:55 - Disconnect between inflation and bond prices?
40:23 - One message to takeaway from our conversation?

Michael Howell is CEO of CrossBorder Capital, a London-based FCA registered, independent research and investment company that he founded in 1996. Previously he was Head of Research for Baring Securities and Research Director of Salomon Brothers Inc, the US investment bank. The liquidity methodology he pioneered monitors cross-border flows and Central Bank behaviour across some 80 countries world-wide. Liquidity flows are a central part of CrossBorder Capital's asset allocation advice, which is currently provided to major global investors, including institutional asset managers, government agencies, Central Banks and endowment funds. Michael has been in financial markets since 1981 and is a regular conference speaker and media commentator. He graduated from Bristol and London Universities with a finance doctorate, specialising in Fixed Income.

Michael Howell -

Website - https://crossbordercapital.com/
Twitter - https://twitter.com/crossbordercap
LinkedIn - https://www.linkedin.com/in/michael-howell-357b1416/?originalSubdomain=uk

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 19th of October 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming on Jim Bianco - President and Macro strategist at Bianco Research.

On this episode we spoke about increasing yields on the long end, the new normal, why this could lead to higher inflation for longer, economic indicators that Jim believes show the new normal, assets to outperform current situation and more. I hope you enjoy!

0:00 - Introduction
1:19 - What is Jim currently watching?
5:14 - Why would a pivot increase yields on the long end?
13:44 - What level will bonds have to be for the FED to intervene?
17:19 - Have economist been caught of guard by the new normal?
22:04 - Current economic indicators to watch?
26:19 - Will fiscal spending remain the same?
29:43 - What assets outperform current scenario?
36:34 - One message to takeaway from our conversation?

Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of traditional Wall Street research, Jim has built a decades long reputation for objective, incisive commentary that challenges consensus thinking. In nearly 20 years at Bianco Research, Jim’s wide ranging commentaries have addressed monetary policy, the intersection of markets and politics, the role of government in the economy, fund flows and positioning in financial markets.

Jim appears regularly on CNBC, Bloomberg and Fox Business, and is often featured in the Wall Street Journal, Bloomberg News, Grants Interest Rate Observer, and MarketWatch. Prior to joining Arbor and Bianco Research, Jim was a Market Strategist in equity and fixed income research at UBS Securities and Equity Technical Analyst at First Boston and Shearson Lehman Brothers. He is a Chartered Market Technician (CMT) and a member of the Market Technicians Association (MTA). Jim has a Bachelor of Science degree in Finance from Marquette University (1984) and an MBA from Fordham University (1989).

Jim Bianco -

Website - https://www.biancoresearch.com/visitor-home/
Twitter - https://twitter.com/biancoresearch
YouTube -  @BiancoResearch

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 11th of October, 2023

On this episode of the WTFinance podcast I had the pleasure of speaking with Didier Sornette - Emeritus Professor of Entrepreneurial Risks at ETH Zurich; and Chair Professor and co-Dean of the Institute of Risk Analysis, Prediction, and Management (Risks-X) at the Southern University of Science and Technology (SUSTech) Shenzhen.

During our conversation we spoke about whether you can predict financial crises, how this was done during 2008, what Didier is seeing in current markets and how this may link to the current bond markets. I hope you enjoy!

0:00 - Introduction
1:41 - Can you predict financial crises?
5:26 - Finding preluding indicators before crises?
9:21 - What did Didier see during 2008 to see risk in the housing markets?
16:21 - FED’s trying to reduce risk as much as possible
23:56 - Are we currently heading towards a crisis?
36:00 - Bond market housing market comparison?
42:01 - One message to takeaway from our conversation?

Didier Sornette is Emeritus Professor of Entrepreneurial Risks at ETH Zurich, and Chair Professor and co-Dean of the Institute of Risk Analysis, Prediction, and Management (Risks-X) at the Southern University of Science and Technology (SUSTech) Shenzhen. Since his recent retirement from ETH Zurich, Professor Sornette has been working actively with the private sector on developing socially important products with clear applications in the medical field and in dynamic financial risk management.

Professor Sornette is using data-driven mathematical statistical analysis to study the predictability and control of crises and extreme events in complex systems. His key contribution is to use nonlinear multi-variable dynamical settings that include both positive and negative feedback. The results obtained help us better understand the overall stability and instability of financial markets.

Didier Sornette - 

Website - https://emeritus.er.ethz.ch/about-us/people/sornette.html
Publications - https://www.researchgate.net/profile/Didier-Sornette

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 10th of October, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming back ​⁠​⁠​⁠ -  “The Robin Hood of Wall Street” and Founder of Traders Choice. 

During our conversation we spoke about the continued debt issue, what is happening with government bonds, why we are seeing a liquidity vacuum, the current system and more. I hope you enjoy!

0:00 - Introduction
1:04 - What are we currently seeing in the markets?
5:16 - What is happening in the debt market?
8:10 - What is happening in long duration government bonds?
11:55 - Why is there a liquidity vacuum?
15:45 - Will we see a changing system in the short term?
18:40 - What will be the first to crack?
21:10 - Crises to benefit assets?
26:45 - Precious metals benefit when debt markets have issues
28:10 - One message to takeaway from our conversation?

Gregory Mannarino, also known as "The Robin Hood Of Wall Street," is an active/full time trader of the capital markets with a world-wide following.

Born on July 22, 1965, he became interested in "Wall Street," like many others at the time, in 1987 after seeing the movie Wall Street with Michael Douglas. Around that time he was able to get an entry level position, then subsequently to the trading floor,  at the now defunct bank Bear Stearns, but within a relatively short time realized that working on Wall Street was not like the movies and moved on. 

He went on to get a medical degree and practiced medicine as a Physician Assistant beginning in 1996, now retired from practice. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieutenant. Gregory even published a book on casino Blackjack strategies years later, and was banned from playing the game in Las Vegas casinos.

Gregory Mannarino - 

YouTube - https://www.youtube.com/c/GregoryMannarino
Traders Choice - https://traderschoice.net/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 6th of October, 2023

On this episode of the WTFinance podcast I have the pleasure of speaking with Amir Goren - Principal at the Economic Defense Fund. 

During our conversation we spoke about whether a FED pivot will cause a stock market crash, what impact interest rates have on markets, strong economic drivers and how long the future recession could be. I hope you enjoy!

0:00 - Introduction
1:50 - What is Amir seeing in the markets?
6:56 - No clear FED expectations could crash markets?
10:32 - What would increasing oil prices do to markets?
13:32 - Strong employment numbers in the US
17:36 - What would influence a pivot?
21:42 - What will the future recession be?
22:37 - More pain for longer?
25:32 - Is there a risk of bonds impacting US government
29:49 - How far could the market drop?
33:07 - One message to takeaway from our conversation?

Amir Goren’s unique investment approach is based on a combination of his macroeconomic analytical and econometric expertise as well as his technological background.

He holds a Ph.D in Economics from UC Irvine, MS in Biomedical Enterprise from Harvard and MIT as well as MBA and Bachelors’ in Engineering degrees from Tel Aviv University.

Amir Goren - 

LinkedIn - https://www.linkedin.com/in/amirgoren/
Twitter - https://twitter.com/EconomicDefense
Substack - https://econdef.substack.com/
Website - https://www.economicdefensefund.com/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 2nd of October, 2023

On this episode of the WTFinance podcast I had the pleasure of speaking with Jesse Felder - Founder of Felder Investment Research and host of Superinvestors. 

During our conversation we spoke about what we are currently seeing in the bond markets, why this could be a wrecking ball, what would make the FED have to intervene and the potential for there being a debt death spiral. I hope you enjoy!

0:00 - Introduction
0:13 - What is Jesse watching in markets?
2:35 - Why is this time different in the US?
5:10 - Lots of factors coming into play?
7:52 - Disconnect between yields and interest rates?
9:30 - Could we see a dollar wrecking ball?
12:10 - Are we experiencing a secular shift?
16:40 - What would a debt death spiral look like?
18:17 - FED forced to intervene in the market?
19:31 - How will the secular shift change markets?
21:25 - The end of overperformance of growth stocks?
24:15 - Another down year for 60 - 40 portfolio
25:50 - Diversifying portfolio into real assets
26:55 - Which assets to perform during this period?
28:40 - One message to takeaway from our conversation?

Jesse began his professional career at Bear, Stearns & Co. and later co-founded a multi-billion-dollar hedge fund firm headquartered in Santa Monica, California. Since founding Felder Investment Research, LLC, publisher of The Felder Report, his writing and research has been featured in major publications and websites like The Wall Street Journal, Barron's, Yahoo! Finance, Business Insider, Investing.com and more. Jesse also hosts and produces the Superinvestors and the Art of Worldly Wisdom podcast.

Jesse Felder - 

Felder Report - https://thefelderreport.com/
Twitter - https://twitter.com/jessefelder

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas