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 EpisodesORACLE, GOLD AND THE S&P 50014 hrs ago • Russell ClarkCLEARINGHOUSES AND THE BASIS TRADESep 15 • Russell ClarkIS GLD/TLT STILL A GOOD TRADE?Sep 12 • Russell ClarkCLEARINGHOUSE THEORY AND PRACTICE HAS BEEN CORRECT - BUT IS POLITICS NOW FALLING IN TO PLACE TOO?Sep 11 • Russell ClarkWHAT IF THE TRUMP ATTACK ON THE FED IS HAWKISH?Sep 8 • Russell ClarkSOMETHING WICKED THIS WAY COMES - UPDATE 2Sep 4 • Russell ClarkWHAT TO DO ABOUT YEN?Sep 2 • Russell ClarkBRUMBY CAPITAL UPDATESep 1 • Russell Clark