In this first of a three part series, Gordon T Long and Andrew Joseph discuss the Macro Analytics of the market.

1. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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2. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
Gordon T Long
GordonTLong.com
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3. MACRO ANALYTICS
Andrew Joseph
Principal: GoldenPhi
Editor & Analyst: Triggers.ca
Publishers: Triggers Media Publications Inc
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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4. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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5. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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6. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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7. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
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8. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
APRIL Reports
GMTP – 189 Pages
• Risk Levels & Assessment
• Tipping Points
• Macro Issues (US, EU, Asia)
• Macro Market Drivers
MATA – 203 Pages
• Technical Analysis
• Fundamental Analysis
• Risk Analysis
MMC – 31 Pages TRIGGER$ – 34 Pages
• Macro Message – Theme
SUPPORTING AUDIO
GMTP – 30 Minutes / 35 Slides
MATA – 20 Minutes / 23 Slides
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

9. GordonTLong.com
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

10. Macro Analytics
April 17th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

11. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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12. THESIS 2012: FINANCIAL REPRESSION
GordonTLong.com
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13. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
OUR APPROACH - Macro Analytics
We take a completely different approach to Techno-Fundamental Analysis. It is best summarized as follows:
TIME FRAME DURATION APPROACH KEY TOOLS
Longer Term 18 Months + Fundamental Analysis Financial Metrics
Intermediate 12 Months Risk Analysis Global Macro Analysis
Tipping Points - Pivots
Short Term Less than 90 Days Technical Analysis Elliott Wave Principle, WD Gann,
JD Hurst, Bradley Model,
Proprietary Mandelbrot Fractal
Generator
The Global Macro Analysis, which is so prevalent in our articles and on our Tipping Points site, plays the critical role of bridging our highly analytic Technical
Analysis with our detailed Fundamental Analysis.
We have found that, in the short term, the markets are driven by emotion and sentiment. In the longer term, they are driven by
financial fundamentals. As Warren Buffett is often quoted as saying: “In the short term the market is a slot machine but in the
long term it is a weighing machine.”
We have found that the transition shows a lagging correlation between changes in the Global Macro, followed by Corporate
Earnings, then followed by the sell side analyst community estimates.
Our focus within the Global Macro is:
i) Quantification of Risk,
ii) Establishment of pivots through the mapping of Tipping Points, and
iii) Identification of ever shifting competitive financial drivers to corporate profitability.
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

14. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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15. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
MACRO SUBJECT DISCUSSION DATE GUEST SLIDES TIME (Min)
EURO EXPERIMENT - SOROS 4/24/2012 John Rubino 42 37
JAPANIZATION - KOO 4/26/2012 John Rubino 40 39
GLOBAL IMBALANCES - STIGLITZ 4/28/2012 John Rubino 26 24
GENERATIONAL CYCLES 5/01/2012 Charles Hugh Smith 18 27
US HOUSING MARKET 5/03/2012 Charles Hugh Smith 15 24
DOOMED MIDDLE CLASS 5/05/2012 Charles Hugh Smith 22 21
GROWTH: Fake Numbers 5/08/2012 Ty Andros 26 31
GROWTH: REAL versus Nominal 5/10/2012 Ty Andros 36 30
GROWTH: Consequences of the Lies 5/12/2012 Ty Andros 20 36
===== =====
256 269
4 ½ Hours
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

16. Macro Analytics
April 17th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

17. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

18. Macro Analytics
April 21st, 2012
EURO EXPERIMENT – Why the Situation is Getting Worse
=> Weakening Euro
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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19. Macro Analytics
April 21st, 2012
=> Weakening Euro
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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20. Macro Analytics
April 21st, 2012
=> Weakening Euro
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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21. Macro Analytics
April 26th, 2012
“JAPANIZATION” – Richard Koo
=> Volatile YEN & CARRY
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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22. Macro Analytics
April 26th, 2012
“JAPANIZATION” – Richard Koo
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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23. Macro Analytics
April 26th, 2012
“JAPANIZATION” – Richard Koo
Japan’s GDP Grew in spite of Massive Loss of Wealth
and Private Sector De-leveraging
(Sep. 1990=100) (Sep.1990=100, Seasonally Adjusted)
140 130
Nominal GDP (Right Scale)
Real GDP
120 (Right Scale) 115
Cumulative
100 100
90-05 GDP
Likely GDP Path Supported by
w/o Government Action Government
80 85 Action:
~ ¥2000 trillion
60 70
40 55
Last seen in 1973 down Cumulative
87% Loss of
20 40 Wealth on
Land Price Index in Six Major Cities Shares and
(Commercial, Left Scale) Real Estate
0 25 ~ ¥1500 trillion
80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11
Sources: Cabinet Of f ice, Japan Real Estate Institute
=> Volatile YEN & CARRY
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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24. Macro Analytics
April 26th, 2012
“JAPANIZATION” – Richard Koo
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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25. CHARLES HUGH SMITH
=> SHRINKING US CONSUMPTION GROWTH RATE
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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26. Macro Analytics
May 1st, 2012
GENERATIONAL CYCLES
SOURCE:
dshort.com
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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27. Macro Analytics
May 1st, 2012
GENERATIONAL CYCLES
= >SHRINKING US CONSUMPTION GROWTH RATE
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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28. Macro Analytics
May 15th, 2012
=> Weakness in INDUSTRIAL COMMODITY COMPLEX
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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29. Macro Analytics
May 15th, 2012
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

30. Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
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31. Macro Analytics
May 8th, 2012
ECONOMIC GROWTH – Fake Numbers!
=> Shrinking REAL Economic Growth in Developed Countries
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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32. Macro Analytics
May 8th, 2012
ECONOMIC GROWTH – Fake Numbers!
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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33. Macro Analytics
March 24th, 2012
EURO EXPERIMENT
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34. Macro Analytics
May 15th, 2012
$48 TRILLION
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
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35. Macro Analytics
May 15th, 2012
$27.3 T Increase in Replacement Contracts
$3.9T Increase in Counterparty Risk
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
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36. Macro Analytics
April 17th, 2012
MACRO ANALYTICS - I
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

37. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
APRIL Reports
GMTP – 189 Pages
• Risk Levels & Assessment
• Tipping Points
• Macro Issues (US, EU, Asia)
• Macro Market Drivers
MATA – 203 Pages
• Technical Analysis
• Fundamental Analysis
• Risk Analysis
MMC – 31 Pages TRIGGER$ – 34 Pages
• Macro Message – Theme
SUPPORTING AUDIO
GMTP – 30 Minutes / 35 Slides
MATA – 20 Minutes / 23 Slides
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

38. Macro Analytics
April 17th, 2012
MACRO ANALYTICS - I
Andrew Joseph
Principal: GoldenPhi
Publishers: Triggers Media Publications Inc
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

39. Macro Analytics
May 15th, 2012
MACRO ANALYTICS - I
Gordon T Long Andrew Joseph
GordonTLong.com Principal: GoldenPhi
Publishers: Triggers Media Publications Inc
Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

40. DISCLOSURE STATEMENT AND TERMS OF USE
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Listen to the original podcast for this slide at www.GordonTLong.com/Macro_Analytics