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Stansberry Research
Aug 8, 2022
The Inflation Reduction Act is, “unequivocally a misnomer”, according to Michael Gayed, portfolio manager at Toroso Investments and publisher of The Lead-Lag Report. He tells our Daniela Cambone that recent spending bills have proven to, “never be used to actually pay down debt, but used as justification to do more.” “It wouldn’t surprise me if there was a much bigger recession down the line,” but Gayed says it’s still unclear if we are in a recession right now. He suggests that “the best thing for investors to do is to consider treasuries again.” Gayed concludes by arguing that the way the dollar has acted against other currencies signals a potential debt crisis is coming.
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