Massive protests have broken out in Iran as the economy there implodes. This is no longer an uncommon occurrence as we’re seeing more signs of the most dangerous phase of the economy. Spurred largely by younger generations who have born the brunt of economic suckitude their entire lives, political upheaval is spreading and intensifying – maybe presenting opportunity but either way it is, by far, the greatest risk the world faces in 2026.
Eurodollar University's Money & Macro Analysis
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EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026.
To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
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Bloomberg Gen Z Revolts Against Dystopian Future as Protests Spread Worldwide
https://www.bloomberg.com/features/2025-gen-z-protest-worldwide/
Gallup George H.W. Bush Retrospective
https://news.gallup.com/opinion/gallup/234971/george-bush-retrospective.aspx
CSpan October 1992 Presidential Townhall
https://www.c-span.org/clip/white-house-event/user-clip-clintons-i-feel-your-pain-moment/4842764
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Repo fails just exploded, coming in at the highest weekly total since 2022. And this isn’t even year-end. This is mid-December. It’s the flat Beveridge economy that is exposing cracks in the credit markets. And along those lines, we’ve got an update on the Tricolor debacle and how it was actually uncovered that will knock your socks off u But it also does a really good job of explaining why there is so much risk aversion exploding throughout the monetary system.
Eurodollar University's Money & Macro Analysis
------------------------------------------------------------------------------
EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026.
To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
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https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
CarMax is back as a microcosm of the entire consumer economy. The company stumbled back in the spring then at the end of summer declared – no big deal - everything was turning around. Instead, not long after management eventually admitted it didn’t turn around which, this past week, was totally confirmed when CarMax reported sales that had basically crashed during the quarter.
Eurodollar University's conversations w/Steve Van Metre
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What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.
Check it out here: https://monetary-metals.com/snider
---------------------------------------------------------------------------------------------------------------------
EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026.
To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
---------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
The Bank of Japan keeps hiking its policy rate, Japanese bond yields continue to rise, yet no matter how high interest rates go over there the weaker the Japanese yen seems to get. And no one can figure out why. The government is stumped. Central bankers can only complain. And the yen is not the only one, but is a critical example of what everyone leaves out because they don’t really know what they’re looking at, or even looking for.
Eurodollar University's Money & Macro Analysis
------------------------------------------------------------
EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026.
Reserve your spot below but you better hurry, there aren't many left:
https://eurodollar-university.com/event-home-page
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EDU's After-Christmas SALE
Get $1,000 off an annual subscription to our DDA+ or 40% off an annual membership. Complete details and checkout at our website link below:
https://www.eurodollar.university/holiday-offer
---------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Repo fails, a measure of collateral flow throughout the entire financial system, soared to more than $300 billion as of the middle of December. It was the highest for any non-quarter end week going back to June 2023. At the same time, borrowing from the Fed’s repo facility is way up again as investors refuse to buy the spin from private credit that their portfolios are just fine and from central bankers who say the same thing about the economy.
Eurodollar University's Money & Macro Analysis
------------------------------------------------------------
EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026.
To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
---------------------------------------------------------------------------------
EDU's After-Christmas SALE
Get $1,000 off an annual subscription to our DDA+ or 40% off an annual membership. Complete details and checkout at our website link below:
https://www.eurodollar.university/holiday-offer
---------------------------------------------------------------------------------
WSJ The Private-Credit Party Turns Ugly for Individual Investors
https://www.wsj.com/finance/investing/the-private-credit-party-turns-ugly-for-individual-investors-287356f9
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
US GDP utterly crushed it in Q3 and that was following Q2 when output supposedly was well more than expected, so two quarters in a row of booming numbers. So why isn’t anyone buying it? To begin with, just look at gold and silver. Safe haven buying is literally off the charts. Bond yields didn’t react at all. And consumer confidence keeps falling deeper into recession territory.
Eurodollar University's Money & Macro Analysis
---------------------------------------------------------------------------------------------------------------------
What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.
Check it out here: https://monetary-metals.com/snider
---------------------------------------------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Back in October, foreigners sold a massive $61.2 billion in LT UST assets, the most since April. While that may sound like the “sell America” and Treasury rejection narrative from the summer, it’s actually proof that the Fed’s bank reserves are irrelevant. Remember October? Repo rates soaring. Use of the Fed’s repo facility skyrocketed. Cockroaches and garbage lending.
Eurodollar University's Money & Macro Analysis
---------------------------------------------------------------------------------------------------------------------
What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.
Check it out here: https://monetary-metals.com/snider
---------------------------------------------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Blue Owl is back, the beleaguered alternative fund manager making news this time by refusing to partner back up with beleaguered former AI bubble star Oracle. This is big, especially since before now Blue Owl and Oracle worked together on seemingly everything. We’ve even got Tether’s CEO feeling the winds shift, admitting how Bitcoin’s struggles, for example, are a reflection of both the credit cycle and bursting AI anxiety.
Eurodollar University's conversation w/Steve Van Metre
------------------------------------------------------------
EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026.
To reserve your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
---------------------------------------------------------------------------------
EDU's Webinar Series REPLAY
There is a ton of smoke coming out from the credit markets right now. But is there fire? For the next hour and a half, join us in examining the issue from all the relevant angles and perspectives. Just how big is the "garbage pool"? What is the driving force behind the credit cycle? How can we tell if it is turning, or maybe has turned?
The most important funding system in the world is flashing warning signals, and almost no one is paying attention. Replay the full webinar at the link below:
https://event.webinarjam.com/m9wym/go/replay/1ym21cpxh8zfw3f4
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https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Miami leads the nation in home de-listings, that is number of sellers who realize the housing situation is bad and getting worse, therefore simply pull their property off the market. De-listings nationally have soared this year, led by Miami and Florida. It wasn’t supposed to be like this. Sellers came back into the market thinking lower interest rates were going to lure buyers. Why wouldn’t they? That’s what everyone says. Falling rates are stimulus and real estate is the most sensitive to it.
Eurodollar University's Money & Macro Analysis
------------------------------------------------------------
EDU LIVE PRESIDENT'S DAY FEBRUARY 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, plus deep discussions about what truly is the greatest threat we all face, join me, Hugh Hendry, George Gammon, Steve Van Metre, Brent Johnson, Mike Green at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot just go here but you better hurry, there aren't many spots left:
https://eurodollar-university.com/event-home-page
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Realtor.com November 2025 Monthly Housing Market Trends Report
https://www.realtor.com/research/november-2025-data/
NAR NAR Existing-Home Sales Report Shows 0.5% Increase in November
https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-0-5-increase-in-november
Florida Housing Market
https://www.redfin.com/state/Florida/housing-market
Bloomberg US Existing-Home Sales Edge Up With Help From Tamer Prices
https://www.bloomberg.com/news/articles/2025-12-19/us-existing-home-sales-edge-higher-with-help-from-tamer-prices
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Tariff inflation continues to go down in flames, yet central bankers refuse to let it go. The US CPI report for November was released today and the details should help put all this to rest – especially alongside the payroll numbers from earlier in the week. However, over in Europe both the ECB and Bank of England claim they need to be vigilant about tariff inflation at the same time job losses and unemployment pile up even higher.
Eurodollar University's Money & Macro Analysis
---------------------------------------------------------------------------------------------------------------------
What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.
Check it out here: https://monetary-metals.com/snider
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------
EDU's Webinar Series REPLAY
There is a ton of smoke coming out from the credit markets right now. But is there fire? For the next hour and a half, join us in examining the issue from all the relevant angles and perspectives. Just how big is the "garbage pool"? What is the driving force behind the credit cycle? How can we tell if it is turning, or maybe has turned?
The most important funding system in the world is flashing warning signals, and almost no one is paying attention. Replay the full webinar at the link below:
https://event.webinarjam.com/m9wym/go/replay/1ym21cpxh8zfw3f4
---------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
The BLS confirmed the US labor market has indeed entered flat Beveridge territory with profound implications. What are they? What does this mean moving forward? Join me at 1:30pm ET to find out.
Also, join me later tonight for a very special webinar where we are going to be doing a COMPREHENSIVE review of on set of consequences from flat Beveridge: cockroaches and the credit market cycle. We'll go over all the smoke rising from the space and assess whether or not there's fire behind it - and take a few reasonable stabs at estimating how much.
EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/channel/risks
Chinese investment crashed yet again in November, the second straight month of bigtime declines. Only this time FAI was joined by consumer spending. Retail sales over in China also crashed last month, dropping by almost half a percent in November alone. That’s enormous. It follows terrible data on household lending and bank credit. All of it points to an increasingly familiar topic and condition: China big economic slide is sliding right onto flat Beveridge.
Eurodollar University's Money & Macro Analysis
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EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/channel/risks
---------------------------------------------------------------------------------
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If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
------------------------------------------------------------
Bloomberg China’s Labor Market Distress Spreads at Worst Time for Deflation Fight
https://www.bloomberg.com/news/articles/2025-09-22/china-s-labor-distress-spreads-at-worst-time-for-deflation-fight
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
So, Jay Powell just casually strolled to the podium at his press conference last week and announced the Fed now believes the US has been losing jobs at a rate of 20,000 per month. From strong and resilient to solid to, ah, so what we’re now shedding jobs by the tens of thousands per month. Do you see it yet? The Treasury curve does, which is why it is moving into its final form in this long un-inversion process, with the big moves taking shape and doing most of the reshaping right in Chair Powell’s conference room.
Eurodollar University's Money & Macro Analysis
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EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/channel/risks
---------------------------------------------------------------------------------
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If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
------------------------------------------------------------
NBER Determination of the December 2007 Peak in Economic Activity
https://www.nber.org/news/business-cycle-dating-committee-announcement-december-1-2008
FOMC Press Conference, December 10, 2025
https://www.youtube.com/watch?v=Ko-_yb2UkDk
Transcript
https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20251210.pdf
Bloomberg Fed’s Goolsbee Says He Sees More Cuts Than Most Others Next Year
https://www.bloomberg.com/news/articles/2025-12-12/fed-s-goolsbee-cites-need-for-more-data-in-dissent-against-cut
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
IBM’s CEO said there is “no way” that the massive spending on AI and data centers will ever pay off. For the first time in this bubble cycle people are finally wondering if maybe he is right. It couldn’t have come at a more critical time in light of Oracle’s shocking results. And then Broadcom failed to live up to the hype. In many ways, AI is the last pillar holding the forgot how to grow economy together, from both investments and stock-fueled consumer spending.
Eurodollar University's conversation w/Steve Van Metre
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EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/channel/risks
---------------------------------------------------------------------------------
------------------------------------------------------------
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
France’s President called it a matter of life and death for European industry. The head of the European Commission said it has reached “an inflection point.” The Chinese have been trying to export their way out of what is now a major downturn. The truth is, neither side has much choice; the Chinese have to do it and the Europeans have to start resisting it. What China just reported in banking and the economy shows they’re out of options even if it means sinking relations with an entire continent.
Eurodollar University's Money & Macro Analysis
---------------------------------------------------------------------------------------------------------------------
What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.
Check it out here: https://monetary-metals.com/snider
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------
EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/channel/risks
---------------------------------------------------------------------------------
------------------------------------------------------------
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
------------------------------------------------------------
Bloomberg China Forces Reckoning in Europe as Trade Turns Existential
https://www.bloomberg.com/news/articles/2025-12-12/china-forces-reckoning-in-europe-as-trade-boom-turns-existential
Politico EU European industry faces ‘life or death,’ Macron says — and China needs to help
https://www.politico.eu/article/europe-china-emmanuel-macron-foreign-investment-trade/
Bloomberg China Politburo Member Misses Two Key Meetings as Mystery Builds
https://www.bloomberg.com/news/articles/2025-12-12/china-politburo-member-misses-two-key-meetings-as-mystery-builds
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Eurodollar University's Money & Macro Analysis
---------------------------------------------------------------------------------
EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/m9wym/register/n0rnxu7n
---------------------------------------------------------------------------------
EDU LIVE 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
---------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
Live replay on December FOMC decision.
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EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/m9wym/register/n0rnxu7n
---------------------------------------------------------------------------------
EDU LIVE 2026
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
---------------------------------------------------------------------------------
Swiss central bankers are being forced to choose between negative interest rates and negative consumer prices by the increasingly negative direction of the globally synchronized system. On a monthly basis, Switzerland’s CPI declined in November for the fourth straight month as the country tries to work through contractions in output and a small but noticeable rise in unemployment. This all should sound familiar because, again, globally synchronized.
Eurodollar University's Money & Macro Analysis
---------------------------------------------------------------------------------------------------------------------
What if your gold could actually pay you every month… in MORE gold?
That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.
Check it out here: https://monetary-metals.com/snider
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------
EDU's Webinar Series
Thursday December 17, 6pm ET
A Trillion-Dollar Eurodollar Bomb is going Off on Wall Street
The most important funding system in the world is flashing warning signals, and almost no one is paying attention.
https://event.webinarjam.com/m9wym/register/n0rnxu7n
---------------------------------------------------------------------------------
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
There is a debate raging on Wall Street and across the markets about what’s happening in private credit right now and what that might mean moving forward. We’ve gotten past the initial shock, the Tricolor and First Brands fiascos, the first round of hedge fund redemptions, so now what? Well, to begin with, there’s what banks are doing right now and then there are warnings still coming in from key players across the industry.
Eurodollar University's Money & Macro Analysis
If you’re a serious investor and want to capitalize on what the monetary system is signaling right now, join me at Eurodollar University's very first Live Event, President's Day Weekend February 2026. To get your spot, just go here:
https://eurodollar-university.com/event-home-page
Bloomberg Private Credit Woes Should Put Banks on Notice
https://www.bloomberg.com/opinion/articles/2025-12-05/banks-need-shoring-up-against-private-credit-risks
Bloomberg Private Credit ‘Hysteria’ Will Get Very Real Next Year
https://www.bloomberg.com/opinion/articles/2025-12-01/private-credit-risk-apollo-ceo-hysteria-claim-is-not-totally-right
Bloomberg Private Credit’s Sketchy Marks Get Warning Shot From Wall Street’s Top Cop
https://www.bloomberg.com/news/articles/2025-11-25/private-credit-s-sketchy-marks-get-warning-shot-from-wall-street-s-top-cop
Bloomberg Private Credit on Defensive Again Over ‘Mark-to-Myth’ Study
https://www.bloomberg.com/news/articles/2025-10-16/private-credit-on-the-defensive-again-over-mark-to-myth-study
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
The most important funding system in the world is flashing warning signals. Most people won't notice until it's too late.
I'm hosting a free webinar to break down what's happening and what it means for your portfolio. https://event.webinarjam.com/channel/risks
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Automotive insurance claims are estimated to have dropped around 9% so far this year. That sounds like a good thing, but it’s an ominous sign. There haven’t been fewer car accidents, instead more people just can’t afford car insurance. Just recently, Gallup found at its midseason Christmas update, holiday shopping plans plummeted by a record amount. More than during late 2008. Why? Same reason people aren’t buying car insurance. There are no jobs and not nearly enough income.
Eurodollar University's Money & Macro Analysis
Gallup Economic Confidence Slips; Holiday Spending Plans Plummet
https://news.gallup.com/poll/699311/economic-confidence-slips-holiday-spending-plans-plummet.aspx
Bloomberg More Americans Are Skipping Car Insurance to Save Money
https://www.bloomberg.com/news/newsletters/2025-12-05/more-americans-are-skipping-car-insurance-to-save-money
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU