Conversation with Michael Howell of CrossBorder Capital : The Macro Dirt Podcast
"What are financial markets there for? They're there to roll over our huge debt piles. Something like 80% of all primary transactions in capital markets today are debt refinancing transactions." - Michael Howell [00:08:23]
"The reason that liquidity is going down is plain and simple because the real economy is taking more... all money that's anywhere must be somewhere. If it's not in financial markets, it's in the real economy." - Michael Howell [00:10:38]
References
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