This compilation of financial-related insights includes videos from Palisades Gold Radio and Gregory Mannarino.
Quick Summary:
In this post of global economy insights, we have multiple videos from Palisades Gold Radio and Gregory Mannarino. Tom Bodrovics, Chase Taylor, and Simon Hunt join Palisades Gold Radio to talk about the demolition of US credit markets, a trap for the Fed, and a 2nd more powerful wave of inflation coming. Gregory Mannarino talks about inflation continuing to rise as the economy craters and consumer spending hitting the wall.
Palisades Gold Radio
Jun 29, 2023 and Jun 30, 2023
Tom Bodrovics welcomes back Danielle DiMartino Booth to discuss the looming problems of the US credit markets. Booth notes that the US is in the midst of a controlled demolition, and that the deliberate nature of Powell’s higher for longer rate hike schedule is having a negative effect in the form of bankruptcies. Despite this, there has not been a major financial meltdown due to the amount of credit card spending and the amount of fiscal stimulus from the pandemic.
Booth discussed the tightening of banking standards and lending standards, which she noted have been imposed by credit unions and regional banks. She noted that as long as Jay Powell succeeds in maintaining a higher for longer stance on monetary policy, there will be a continued bleed into the money market fund industry. She discussed the magnitude of fiscal relief and fiscal stimulus that is still being pumped into the economy, and how this is helping the Fed to regain some of their credibility.
Danielle also discussed student loan forbearance, which was part of the debt ceiling law and explained that there was little room for an extension. She then discussed commercial real estate, noting that demand had declined and companies and businesses were turning in their keys.
DiMartino Booth then discussed the goal of Federal Reserve Chairman Jay Powell, which is to raise interest rates and rewrite modern monetary policy history. To do this, he must get rid of the zero bound, stop at two percent, get rid of quantitative easing, and get out of the credit easing business.
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Finally, DiMartino Booth discussed the global implications of the US keeping their rates higher for longer. She also notes that major fiscal relief should not be expected until the second quarter of 2025 at the earliest.
Tom welcomes back Chase Taylor to the show. Chase is a macro strategist and editor of Pinecone Macro Research and head of research at Bulwark Capital Management.
Chase discusses the current economic situation and the potential for a longer and deeper recession than expected. He notes that lags in the economy appear to be longer than in the past, and consumer spending is flatlining, with delinquency data showing signs of struggle. He believes that the Fed’s policies of boosting liquidity and raising rates are at odds and could lead to further financial stress.
Chase also discusses the issue of debt among different demographics, highlighting the student loan forbearance coming due in October. He notes that student loan debt is twice as high as credit card debt and cannot be escaped through any type of bankruptcy. He then discusses the banking crisis that occurred in the past and how it was mainly based on liquidity, and how small businesses could be hit hard when smaller banks tighten standards.
Chase worries that the Fed may have misjudged the lag time with their demand destruction plan, leading to a monumental long trade in commodities due to destroyed supply. He discusses his approach to investing in this current environment. He urges investors to separate their feelings from their trading activities and to be aware of feedback loops, where thing can spiral out of control.
Tom welcomes back Simon Hunt to discuss the global economy and global political reality. Simon Hunt discusses the global economy and the rapidly declining trust between governments.
Physical consumption of copper is weak and weakening, indicative of either being in a recession or entering one shortly. The various PMI indexes are pointing clearly to recession in the United States and savings rates are falling. Markets are propped up by the reported levels of employment, however he questions some of the data as companies are cutting hours. Europe is in a political mess with Germany in recession, and he expects the global economy to continue poorly into the fourth quarter.
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Russia understands America’s role in the U-----e War and it’s clear the West wants to dismember Russia for control of their natural resources. He anticipates the leadership in Russia to soon take the gloves off with U-----e, resulting in a dramatic decline in western Equity Markets by the end of the year. This coupled with an increase in the conflict will result in western Central Banks to flush the system with money, causing horrendous inflation and a rapidly falling dollar.
Most G7 countries have severe demographic problems, particularly Germany, which could be their last decade as a powerful country due to lack of population. The BRICS+ nations have positive demographics and Iran is a sleeping giant with foreign investment pouring into the country exploring and developing their resources.
Real war is coming to U-----e when Russia takes the gloves off, forcing the West to make some hard choices. This could dramatically escalate should Nato may enter the war more openly. Iran has contingency plans in the event that Israel or the USA tries to intervene and they are fully capable of shutting down the straights of Hormuz.
Simon believes there is not much time left for contingency planning by Western individuals and companies.
Gregory Mannarino
Jun 30, 2023
(ShOCKer!) INFLATION CONTINUES TO RISE AS ECONOMY CRATERS EVEN FASTER. Important Updates.. Mannarino
LIVE! Consumer Spending Hits A Wall. Fed. DELIBERATELY K-----G SMALL BUSINESS. Be Ready For Anything
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