Bloomsbury Macro
Michael TestaWritten by a former Executive Director, Global Investment Research at Goldman Sachs. Each week, we cut through the noise on macro, AI, and markets to explain where policy, capital, and technology are really heading.
| Platform |  | Pricing | Freemium | Publishes | Daily |
|---|---|---|---|---|---|
| Issues | 119 | Founded | 2 years ago | Last Issue | 3 months ago |
| Active | |||||
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madeinbloomsbury.substack.comLatest Issues
Jobless Prosperity
What Does Economic Analysis Suggest About the Rise of Jobless Prosperity in the AI Era?
Bloomsbury Macro is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
This report...
AI Is Becoming a Credit Cycle
For the past two years, AI has been treated as a growth story.
More users.
More models.
More compute.
More upside.
That framing is now outdated.
AI is no longer just a growth story.
It is becoming a credit story.
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From...
From Speculation to Stability: How Markets Are Repricing Trust
Over the past week, markets appeared to unravel.
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Silver collapsed. Gold plunged. Oil fell sharply. Crypto weakened. Headlines multiplied, each suggesting that something fundamental had broken. For many observers, this sequen...
Gold Isn’t Predicting a Crash. It’s Predicting Policy.
My interest in gold, much like my interest in macroeconomics more broadly, comes from moments when the world appears calm on the surface while something deeper is quietly shifting underneath. Historically, gold has been associated with cris...
Execution as the Binding Constraint
Much of the public discussion around artificial intelligence investment remains organized around a familiar question: are current valuations justified? This is a natural way to frame the issue. In most investment cycles, capital is scarce,...
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Authors
The writers behind this newsletter.
Macro and AI-focused economist. Former Executive Director in Global Investment Research at Goldman Sachs and UK government economic adviser.
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