Latest Episodes

Is the Market Running Out of Money?

What if the cleanest read on market risk isn’t a sentiment index but the dollar itself? We connect the dots from DXY’s slide and rebound to the invisible gears of Eurodollar credit, showing how collateral breathes through trade invoices, repos,...

November 05, 2025 • 1:21:20

A One-in-a-Thousand Market Moment

When logic fails, hedges break, and the models panic.Markets rarely behave. In this episode, Hugh Hendry unpacks why. Exploring what happens when models flash red and logic collapses in real time. From George Gammon’...

November 03, 2025 • 1:16:52

What If Government Debt Isn’t Debt at All?

The Ricardian Equivalence, Treasury Debt, and the Modernity of Money

October 31, 2025 • 1:09:27

Do Deficits Make You Rich?

Do Deficits Make You Rich?The uncomfortable truth: fiscal stimulus creates wealth, not consumer inflation.Sat pondering in a Caribbean bar, thinking about intelligence, the Fed, deficits, and why inflation lives in Wall Str...

October 30, 2025 • 1:31:54

When America Pretends to Be Reckless

In this acid breath of mine, I drift between the sublime and the sardonic. I trace how America, once the debtor, became the empire, how quantitative easing rewired the flow of wealth from the cautious creditor to the restless entrep...

October 27, 2025 • 54:27

Fan Mail

Loving my 30mins of Hugh every day. My question for you is, what is your exit strategy for trades that are successful? Is it sell half after a good run or do you just sell out completely, etc? Thanks. Robert

United Kingdom of Great Britain and Northern Ireland

Hugh Hendry

Host