Top all-time · #12644
Alfonso Peccatiello
Personal blog · themacrocompass.substack.comeconomicsbusiness
Alfonso Peccatiello writes The Macro Compass, a personal blog at themacrocompass.substack.com about economics and business. Since 2021, 6 different Hacker News readers have linked it 7 times, most often “Macro Clouds on the Horizon”. It is still writing: the last post was on 2026-07-13, and you can follow it by feed.
Too few sampled comments (2) to say how often HN recommends it.?
Why HN links it
HN readers link this macro newsletter to explain that commercial banks create money through lending, not central banks printing it. Commenters cite it on euro and ECB money-supply debates.
Summarised by Claude from a sample of 2 HN comments that link here. Each comment is marked recommending, critical or neutral (citing without judging); how this works.
Financial education, macro insights & actionable investment ideas. From Alf's desk - Founder & CEO of The Macro Compass - straight to your inbox.
Most-linked posts?
- /p/tmc-6-all-they-told-you-about-printing2 people · 2 mentions · first linked 2021-12-15
- Macro Clouds on the Horizon2 people · 2 mentions · first linked 2024-10-20
What Hacker News says?
> the ECB has been printing money like crazy in the last 14 years. So far this money had been absorbed mostly by banks but slowly but surely it is starting to trickle into the real economy. This is wrong, none of the money the ECB "prints" goes out into the real economy (see [1] e.g.). [1] https://themacrocompass.substack.com/p/tmc-6-all-they-told-y...
Comment linking /p/tmc-6-all-they-told-you-about-printing
on “The euro has tumbled near parity to the US dollar”Submitted What the Heck Is Happening in Japan? as a story · 15 points
HN discussionCommercial Banks print money. Central banks dont do that. Commercial banks create money with loans. If you pay back a loan, your money is removed from the system. Read this: https://themacrocompass.substack.com/p/tmc-6-all-they-told-y... Banks wont lend (=print) more because of risk/reward ratios. Credit worthiness and yields. I like the terminology “inside money” and “outside money” as well.
Comment linking /p/tmc-6-all-they-told-you-about-printing
on “Cash Glut in Eurozone Drives Dollar Demand”Submitted Japan has all the answers you need as a story · 12 points
HN discussionSubmitted A Scary Bond Market as a story · 3 points
HN discussionSubmitted Macro Clouds on the Horizon as a story · 2 points
HN discussionSubmitted Macro Clouds on the Horizon: Patient Europe Is Dying and the Debt-Based US Model as a story · 2 points
HN discussion