Cash-burn machines (E1458)
Max and Stacy discuss the ‘cash-burn machines’ of the ‘everything bubble’, as Wolf Richter calls them. These bonfires of cash have been gobbling up hundreds of billions of dollars in investor capital looking for greater fools to come along and throw some of their capital into money-losing enterprises like the so-called ‘tech unicorns’ and loss-generating fracking operations. Max continues his conversation with David Morgan of the Morgan Report about de-dollarization, the importance of clearing global trade through the NY Fed, and whether or not gold miners are finally back in a bull market.
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