Playback speed×Share postShare post at current timeShare from 0:000:00/0:00Preview1418ARTIFICIAL SCARCITY AND MODERN MARKETSHigher rates has not reduced liquidity as I expected - leading to artificial scarcity remaining a strong driver of appreciation. Russell ClarkDec 21, 2023∙ Paid1418ShareSubscribeOne of the features of “modern” (read post GFC) markets is that volumes traded tend to be less even as markets rise. In the UK, mortgage approvals have collapsed back to close to GFC levels, after never really getting back to pre-GFC levels.This post is for paid subscribersSubscribeAlready a paid subscriber? Sign inCapital Flows and Asset MarketsExplaining how capital flows and asset markets workExplaining how capital flows and asset markets workSubscribeListen onSubstack AppRSS FeedAppears in episodeRussell ClarkRecent EpisodesTHOUGHTS FROM SAN FRANCISCO2 hrs ago • Russell ClarkQUICK UPDATE24 hrs ago • Russell ClarkIS BAD NEWS GOOD NEWS?Oct 27 • Russell ClarkIT IS THE 70S.... BUT SEMICONDUCTORS ARE THE NEW OILOct 24 • Russell ClarkIS GOLD DONE?Oct 21 • Russell ClarkWHATS WRONG WITH BITCOIN?Oct 20 • Russell ClarkIS THE CRAPPY BANK TRADE DONE?Oct 17 • Russell ClarkAI, VIX AND AUTOCALLABLESOct 17 • Russell Clark