Even if you disagree with everything Mr. Rosenberg has been saying since 2020, he has one of THEE most informed counter arguments to the current narrative. If this time really is different, so be it, then he is wrong. However, if this time isn’t different and deficit spending is holding up GDP, then he outlines a great way to approach the markets cautiously (I still do not like duration here, but I understand where he is coming from. There is a lot of wisdom in Mr. Rosenberg’s words)
When no other Currency challenged the Federal Reserve Note for supremacy, things went somewhat smoothly. Last Week a new Physical Based Currency emerged. It was preparing for this event for 20 years. The US Treasury stopped supporting the FED 20 years ago. Is that something meaningful to examine?
Most of us just go about our day and have no plans to participate in the coming recession- sitting on 75% of my portfolio in t bills waiting for the crash, selling puts on stocks I want- still waiting. But at my age just can’t stomach crazy volatility, got out of qqq in October of 23-too early- but couldn’t do it anymore-listen to this guy unless you can handle 40-50% draw down-been through it twice
Consumer Debt grew by $6 trillion since 2008. Bernanke and Paulson allowed Plastic to finance enormous debt. Consumers appear to be unable to assemble disposable Income to pay off debt. The US Government has rode the Fiat Currency into the dirt, like a lame horse. For 20 years there has been no visible support for US Fiat Dollars.
"sitting on 75% of my portfolio in t bills waiting for the crash, selling puts on stocks I want" I do the same thing except, about half in short term treasuries, while trading the 20 & 30 year, GLD .. and sold puts on conservative high dividend payers (7%+) midstream energy. JEPQ, some of which have been put to me. But have really been do pretty well using a small percent of portfolio selling OTM weekly puts on some small cap high vol and even large mega cap Maga 7. If you can earn 1 to 3% per week consistently,.. that's an annual; rate of 50 to 150%. Even a half of a percent is an annual 25%. I'd be happy with 10 to 20%.
@@danielhutchinson6604 "For 20 years there has been no visible support for US Fiat Dollars." Except when measured against all of the other fiat currencies. But it's the last 4 years that have been the most horrendous abuse of the $. This corruptinsaneincomptent admin has been unnecessarily deficit spending an unprecedented, unsustainable 6 to 10% of GDP,.. generating 1 to 3% real GDP growth,.. giving us an entrenched steady state structural inflation rate of about 5%,.. and we weren't and aren't in a recession. In a normal economy,.. the government deficit spends 1 to 3% of GDP and the private sector invests and generates a real GDP growth rate of about 3 to 5%. The last 20 years ain't nothing compared to the last 4. If you voteforKackles you vote for more of the same.
“I didn’t anticipate that the U.S. government would be providing so much fiscal support” - where the hell have you been? Everybody could see that this had been happening and would continue and will continue.
57:40 there's an unimaginable amount of leverage tied up in private equity and CLOs, especially in the CRE space. They weren't over leveraged due to an asset bubble but if that bubble pops then suddenly their collateral is underwater. Distressed debt among CLOs is up and law firms are actively advertising their CLO distressed debt management experience. It smells to me.
He is a sound voice in a crazy environment.. A very educated man and you should listen to him.. no matter if he has been wrong.. what happens if he is right?
I have come to realize that 2008 changed everything. At one time i thought that markets would reset to the mean. Not anymore. All central banks are willing to print and allow inflation to ballon than allow any market adjustments. We are definitely living in a fairly tale environment. We are in MMT all the way.
He's always an interesting guest to listen to but you start becoming scared of your own shadow if you listen too long. :) He actually has me thinking about buying the 10YT after that.
He has admitted to being wrong on the timing on many occasions. At least he is transparent about it. Which cannot be said about many other analysts in the space. They just rely on people having short memories.
@@hafeld8348 so you want the most difficult part of the job for free? Nobody gets the timing right 100% of the time. His arguments are sound even if the timing is wrong. You should be in the interview if you think you can do better.
As of today. Record spending 10+ billion on black friday. I've been hearing for years that we are doing bad. Ive never seen it and still dont. There needs to be a major black swan event to kick this off. Who knows what that could be or when. Could be in the next few weeks or the next few years.
If you simply assess how your portfolio would do over an extended period of time if you followed Rosenberg’s recommendations such as buying bonds and expecting a stock market crash you realize he’s not worth listening to beyond entertainment. Additionally, practically all great investors like Buffett, Marks, Lynch, etc advise against listening to economists and macro forecasts…they focus on the bottom up analysis.
His argument for what is going to trigger this big recession is somewhat weak. He refers to 2008 which was built upon years of extremely loose/risky lending standards + fraud/misrepresentation in MBS which had a lot of collateral damage. Where is the corollary for today? New Housing construction has been well below average since 2008 and only barely returned to average in the past few years. That plus the very low interest rates seem to be the primary drivers for high house prices today...not loose lending standards. That is a very different situation.
Let’s not forget federally and state wide, the free for all gambling that’s being pushed on Americans. With advertisements constantly on TV, video poker establishments on every block is getting ridiculous and no one is saying boo about it. America will gamble their way to prosperity. Oh yeah.
I don't agree that 'nobody has de-risked.' A lot of people have reduced exposure prematurely or missed much of this rally. I accept that there are significant risks to the economy and to stock markets now. But that does not mean that investors are in way over their skis at the moment.
Warren Buffett has definitely de-risked the last few years...but the high liquidity is still there (almost $7 trillion cash) after printing so much money since the pandemic; so Buffett and David Rosenberg may be correct, but it may take longer than they expect.
All these economists are “perplexed” because they don’t pay any attention to geopolitics, a noncyclical factor. We have hot conflicts in Eastern Europe and the Middle East and rising tensions in Asia, all involving major global or regional powers. War creates economic and investment uncertainty in affected regions and crowds out capital toward the US. This is why financial assets in the US are at record highs. This will change only if the geopolitical situation abroad improves, but this is a tall order, especially since the neocons in DC don’t want it.
The stock market bubble won't pop because the Fed won't let it. The wealth effect is the Fed's third mandate now. The pain will have to come from somewhere else.
The FED has seen no visible support for 20 years. People are beginning to notice. The Currency is apparently now displaying no Value. How do you explain that fact?
Here's the facts. No one can predict WHEN, HOW LONG, OR HOW SEVERE a bear market will last. Stop scaring people. Will it happen? Yes. When? I don't know. Until then, carry on.
This guy has been so WRONG for so long. It's totally ridiculous. When will he ADMIT he has been wrong! One day, he'll be correct but for TWO years he's been WRONG1
Bloody hell Dave, you're more pessimistic than Dr Doom himself (Marc Faber). Cheer up! 😂 (I do sorta of agree with you, but Mr Ficisal Stimmies aka Keynes once said: "the market can remain irrational longer than you can remain solvent" so I guess the apocalypse will be delayed a few more years)
If David always knew that bonds would get crushed (initially) after a rate cut by the Fed, why didn't he advise on timing in all his previous talks? Why is he talking about holding his positions rather than opening positions now or in the near future?
If the stock market plummets, you'll see deflation, meaning household wealth will increase in real terms. High stock prices help the haves, not the have nots. Unemployment will go up for a while, as jobs that exist because of overinflated assets disappear (so make yourself useful to the economy now), but the cost of housing, rents, fuel, food stuffs and consumer goods will all fall when the everything bubble finally pops. That's basic economics. Bad news if you put all your savings in a pension plan, because that won't exist anymore, but that's your fault for giving your money away to a ponzi scheme like a private pension. You'll have to restart planning for retirement, but at least everything will be cheaper this time. Those who have money in a massive market cash are the rich people of tomorrow. Those who have leveraged assets are the paupers of tomorrow. People like Donald Trump, Mark Zuckenburg and Elon Musk will be wiped out because their wealth is from debts (Trump) or stock (Musk) and none of them provide tangible products and services that the real economy needs when money is tight. If you're gonna buy stocks, invest in things that people will prioritise, or better still sell a kidney for.
As much as I dislike Musk; if Tesla does come out with their $25,000 car, they will be at our every other auto manufacturer selling in America, and in many countries. It's different inside China because; their government is heavily subsidizing its EV manufactures. Regrettably, most American Car manufacturers are resisting the switch to EV's, or are simply mismanaging the transition, just like Japan and Germany. Many auto manufacturers we grew up with; will be gone in a few years, and with them many jobs. Due to the highly automated manufacturing processes Tesla; and now a few other EV manufactures use, there won't be the same increase in needed workers at these companies, then there would be if they used traditional assembly lines. If we are lucky; we will see the fruition of the energy and tech boom that has already started; That the Astrophysicist Neil DeGrasse Tyson, Futurists, and other tech experts describe. Basically, this revolution will make energy abundant and cheap; which will make it inexpensive to operate EV's, robots, or the quantum computers that will drive A.I.; add to this the nearly unlimited resources found in our own solar system, which once space mining begins will make currently expensive resources on earth plummet in value/cost. These and other aspects of this tech revolution such as the speed technology advances, the scope and scale of building space colonies, space stations, etc, will require making the government more streamlined and a lot less wasteful. This revolution will bring forth the ability to provide every population on earth plentiful clean water, food, and shelter; and by making energy and resources abundant and cheap, while ending our dependency on fossil fuels, it will remove the very things that motivate countries to fight other countries. As Neil said "the Bazos' and Musk's of the world will achieve these advances out of greed; becoming the first Trillionares, rendering themselves and the concept of money obsolete". Logistics involved in these achievements will be staggering enough; without the financial logistics getting in the way, which is also what will push doing away with money. The very nature of achieving these goals will require advances in new materials, technologies, and science, which will all help to speed up this technology revolution even more. Without conflicts, economic classes, and the ending of countless social problems; the money now wasted on militaries around the world, spent on influencing politics, etc, will also help transform society during this transition. White color jobs can more easily replaced with A.I., than Blue Collar Jobs; further making the ruling class unnecessary. The population deines we are beginning to see; due to collapsing birthrates, will both help the environment, and make this revolution even easier to achieve This will transform the face of society; redefining the purpose of education and what we define as work. This will w.oower the poor and homeless, end many of the causes that lead to poverty, homelessness, inequality, etc. The alternative is the repeating cycles of economic crisis; that lewd to conflicts, the lack of resources like food and water that causes conflicts around the world.
This dude has ZERO credibility/accountability. His only value is as a contrarian indicator : If he is bearish, then stay invested and make money. If he turns bullish, time to sell.
Damn Dave must have got torn up across social media after his mea culpa on Maggie lakes channel last week. Complete 180, digging his heels in and being stubborn. I’d say he’s 6 mos to 1 year from becoming the new harry dent. No recession within that time frame and he becomes just another the collapse is nigh guys who are obsessed with the recession of ‘08. He can always start writing for zerohedge I guess
@ He cherry picks the data that suit his narrative. The amount of data that we use to measure the economy has exploded over the years; there are so many ways to slice and dice it that one could make a good case for whatever scenario pops into their mind. But buried in all this is the truth, reality. Whether he likes it or not, growth has remained positive; it doesn’t matter if excessive government spending is the cause. Or his other go to excuse, that government data is faulty or outright manipulated. He’s been dead wrong about recession for years now
@@mattsmith8497 He’s unusual in the sense that his evidence is given, as they say, “against interest.” He could make more money sure-coating his stats, but he doesn’t.
I expect 2025 to be a terrific boom, and in 2026 I expect the crash to commence. The crash will be more terrific than what we have seen in 08 and 09. This next crash in 2026 will be as bad or worse than 1929
So happy David Rosenberg is on your channel. He is the best in the industry.
Why do you think that. He continuously calls for a recession that never materializes?
Congrats Jack on your new channel. You’re terrific, best of luck.
Even if you disagree with everything Mr. Rosenberg has been saying since 2020, he has one of THEE most informed counter arguments to the current narrative.
If this time really is different, so be it, then he is wrong. However, if this time isn’t different and deficit spending is holding up GDP, then he outlines a great way to approach the markets cautiously (I still do not like duration here, but I understand where he is coming from. There is a lot of wisdom in Mr. Rosenberg’s words)
When no other Currency challenged the Federal Reserve Note for supremacy,
things went somewhat smoothly.
Last Week a new Physical Based Currency emerged.
It was preparing for this event for 20 years.
The US Treasury stopped supporting the FED 20 years ago.
Is that something meaningful to examine?
At first I didn’t agree with David Rosenberg. Then now a year later, I fully agree with him.
I always enjoy David Rosenberg's straight forward insights.
Most of us just go about our day and have no plans to participate in the coming recession- sitting on 75% of my portfolio in t bills waiting for the crash, selling puts on stocks I want- still waiting. But at my age just can’t stomach crazy volatility, got out of qqq in October of 23-too early- but couldn’t do it anymore-listen to this guy unless you can handle 40-50% draw down-been through it twice
Consumer Debt grew by $6 trillion since 2008.
Bernanke and Paulson allowed Plastic to finance enormous debt.
Consumers appear to be unable to assemble disposable Income to pay off debt.
The US Government has rode the Fiat Currency into the dirt,
like a lame horse.
For 20 years there has been no visible support for US Fiat Dollars.
"sitting on 75% of my portfolio in t bills waiting for the crash, selling puts on stocks I want"
I do the same thing except, about half in short term treasuries, while trading the 20 & 30 year, GLD .. and sold puts on conservative high dividend payers (7%+) midstream energy. JEPQ, some of which have been put to me.
But have really been do pretty well using a small percent of portfolio selling OTM weekly puts on some small cap high vol and even large mega cap Maga 7.
If you can earn 1 to 3% per week consistently,.. that's an annual; rate of 50 to 150%.
Even a half of a percent is an annual 25%.
I'd be happy with 10 to 20%.
@@danielhutchinson6604
"For 20 years there has been no visible support for US Fiat Dollars."
Except when measured against all of the other fiat currencies.
But it's the last 4 years that have been the most horrendous abuse of the $.
This corruptinsaneincomptent admin has been unnecessarily deficit spending an unprecedented, unsustainable 6 to 10% of GDP,.. generating 1 to 3% real GDP growth,.. giving us an entrenched steady state structural inflation rate of about 5%,.. and we weren't and aren't in a recession.
In a normal economy,.. the government deficit spends 1 to 3% of GDP and the private sector invests and generates a real GDP growth rate of about 3 to 5%.
The last 20 years ain't nothing compared to the last 4.
If you voteforKackles you vote for more of the same.
fair point re drawdown risk for retirees even if he has been early and wrong to date.
The Treasury Folks are selling T-Notes to cover the payments on the old Notes as they mature.
Treasury Paper seems less than secure?
“I didn’t anticipate that the U.S. government would be providing so much fiscal support” - where the hell have you been? Everybody could see that this had been happening and would continue and will continue.
The point is more of: "I didn't realize how outsized the magnitude if the fiscal stimulus effect would be"
57:40 there's an unimaginable amount of leverage tied up in private equity and CLOs, especially in the CRE space. They weren't over leveraged due to an asset bubble but if that bubble pops then suddenly their collateral is underwater. Distressed debt among CLOs is up and law firms are actively advertising their CLO distressed debt management experience. It smells to me.
He is a sound voice in a crazy environment.. A very educated man and you should listen to him.. no matter if he has been wrong.. what happens if he is right?
I have come to realize that 2008 changed everything. At one time i thought that markets would reset to the mean. Not anymore. All central banks are willing to print and allow inflation to ballon than allow any market adjustments. We are definitely living in a fairly tale environment. We are in MMT all the way.
Ask 10 economists the same question and you get 10 different answers
Build Back Better 🔥
Debacle and recession.
He's always an interesting guest to listen to but you start becoming scared of your own shadow if you listen too long. :) He actually has me thinking about buying the 10YT after that.
Good reason to listen to him because he is correct.
@@ParisianThinkerhe hasn’t been correct at all this decade.
He has been wrong for three years but who is counting?
He has admitted to being wrong on the timing on many occasions. At least he is transparent about it. Which cannot be said about many other analysts in the space. They just rely on people having short memories.
@@pirahnalasagne Yet he keeps repeating the same stuff. Eventually he will be right like a broken clock.
macro furus always wrong.
@@hafeld8348 so you want the most difficult part of the job for free? Nobody gets the timing right 100% of the time. His arguments are sound even if the timing is wrong. You should be in the interview if you think you can do better.
@hafeld8348 enlighten me as to the individual who both gets the timing right, all of the time, and who isn't some rando anon. commenter.
As of today. Record spending 10+ billion on black friday. I've been hearing for years that we are doing bad. Ive never seen it and still dont. There needs to be a major black swan event to kick this off. Who knows what that could be or when. Could be in the next few weeks or the next few years.
If you simply assess how your portfolio would do over an extended period of time if you followed Rosenberg’s recommendations such as buying bonds and expecting a stock market crash you realize he’s not worth listening to beyond entertainment. Additionally, practically all great investors like Buffett, Marks, Lynch, etc advise against listening to economists and macro forecasts…they focus on the bottom up analysis.
His argument for what is going to trigger this big recession is somewhat weak. He refers to 2008 which was built upon years of extremely loose/risky lending standards + fraud/misrepresentation in MBS which had a lot of collateral damage. Where is the corollary for today?
New Housing construction has been well below average since 2008 and only barely returned to average in the past few years. That plus the very low interest rates seem to be the primary drivers for high house prices today...not loose lending standards. That is a very different situation.
Hi,
Inflation can go under 2% only if we became no in resesion but in straight debackle.
Consistently wrong last 4 years or so and turning into Harry Dent
lol harry
Here's hoping that Rosie will be right, sooner rather than later. Stay tuned.
Let’s not forget federally and state wide, the free for all gambling that’s being pushed on Americans. With advertisements constantly on TV, video poker establishments on every block is getting ridiculous and no one is saying boo about it. America will gamble their way to prosperity. Oh yeah.
I don't agree that 'nobody has de-risked.' A lot of people have reduced exposure prematurely or missed much of this rally. I accept that there are significant risks to the economy and to stock markets now. But that does not mean that investors are in way over their skis at the moment.
Warren Buffett has definitely de-risked the last few years...but the high liquidity is still there (almost $7 trillion cash) after printing so much money since the pandemic; so Buffett and David Rosenberg may be correct, but it may take longer than they expect.
Problem with the “Buy Canada” thesis is that if and when the big Elephant keels over, Canadian markets will follow.
What if the stock market is protected by high frequency trading? Which is a form of legalized insider trading in the form of front running.
Thanks
There's j0ker. Then there's cl0wn. And then there's a combination of both who's known as David 😂
All these economists are “perplexed” because they don’t pay any attention to geopolitics, a noncyclical factor. We have hot conflicts in Eastern Europe and the Middle East and rising tensions in Asia, all involving major global or regional powers. War creates economic and investment uncertainty in affected regions and crowds out capital toward the US. This is why financial assets in the US are at record highs. This will change only if the geopolitical situation abroad improves, but this is a tall order, especially since the neocons in DC don’t want it.
Crazy prediction: bubble will pop, crash will follow, then rise to higher highs. Repeat. I will stick with worry-free DCA’ing, thanks.
Feedback: The highlighted subtitle makes it harder to read.
As much I remember always negative Rosenberg, and never right , sure wilm hit one day
The stock market bubble won't pop because the Fed won't let it. The wealth effect is the Fed's third mandate now. The pain will have to come from somewhere else.
The FED has seen no visible support for 20 years.
People are beginning to notice.
The Currency is apparently now displaying no Value.
How do you explain that fact?
Need to disaggregate spending data to find difference between still high vs lower niches.
"i wake up every day and the markets are higher"
there's a lesson there Rosie
Fiat Dollars need support to actually display any real Value.
There is a major Lesson there.
He's a smart guy but he is wrong. Peter Schiff should be his buddy.
We will never see another recession. It’s roses from now on.
@@TomHawk640 Like 1929.....
@@TomHawk640 If only it were really that easy. ;)
Here's the facts. No one can predict WHEN, HOW LONG, OR HOW SEVERE a bear market will last. Stop scaring people. Will it happen? Yes. When? I don't know. Until then, carry on.
I do not expect a recession until the M2 money supply contracts significantly.
@stephenkutney9626 It declined all of last year.
@Eric-m2f3d not to the pre covid trendline.
How long do you have to be wrong before people stop listening to you and UA-cam channels stop inviting you on? Apparently, a very long time.
This guy has been so WRONG for so long. It's totally ridiculous. When will he ADMIT he has been wrong! One day, he'll be correct but for TWO years he's been WRONG1
Bloody hell Dave, you're more pessimistic than Dr Doom himself (Marc Faber). Cheer up! 😂 (I do sorta of agree with you, but Mr Ficisal Stimmies aka Keynes once said: "the market can remain irrational longer than you can remain solvent" so I guess the apocalypse will be delayed a few more years)
If David always knew that bonds would get crushed (initially) after a rate cut by the Fed, why didn't he advise on timing in all his previous talks?
Why is he talking about holding his positions rather than opening positions now or in the near future?
Looks like vintage particle board cabinet in the background. Had one just like it ten years ago.
If the stock market plummets, you'll see deflation, meaning household wealth will increase in real terms. High stock prices help the haves, not the have nots. Unemployment will go up for a while, as jobs that exist because of overinflated assets disappear (so make yourself useful to the economy now), but the cost of housing, rents, fuel, food stuffs and consumer goods will all fall when the everything bubble finally pops. That's basic economics. Bad news if you put all your savings in a pension plan, because that won't exist anymore, but that's your fault for giving your money away to a ponzi scheme like a private pension. You'll have to restart planning for retirement, but at least everything will be cheaper this time. Those who have money in a massive market cash are the rich people of tomorrow. Those who have leveraged assets are the paupers of tomorrow. People like Donald Trump, Mark Zuckenburg and Elon Musk will be wiped out because their wealth is from debts (Trump) or stock (Musk) and none of them provide tangible products and services that the real economy needs when money is tight. If you're gonna buy stocks, invest in things that people will prioritise, or better still sell a kidney for.
As much as I dislike Musk; if Tesla does come out with their $25,000 car, they will be at our every other auto manufacturer selling in America, and in many countries. It's different inside China because; their government is heavily subsidizing its EV manufactures.
Regrettably, most American Car manufacturers are resisting the switch to EV's, or are simply mismanaging the transition, just like Japan and Germany. Many auto manufacturers we grew up with; will be gone in a few years, and with them many jobs. Due to the highly automated manufacturing processes Tesla; and now a few other EV manufactures use, there won't be the same increase in needed workers at these companies, then there would be if they used traditional assembly lines.
If we are lucky; we will see the fruition of the energy and tech boom that has already started; That the Astrophysicist Neil DeGrasse Tyson, Futurists, and other tech experts describe. Basically, this revolution will make energy abundant and cheap; which will make it inexpensive to operate EV's, robots, or the quantum computers that will drive A.I.; add to this the nearly unlimited resources found in our own solar system, which once space mining begins will make currently expensive resources on earth plummet in value/cost. These and other aspects of this tech revolution such as the speed technology advances, the scope and scale of building space colonies, space stations, etc, will require making the government more streamlined and a lot less wasteful. This revolution will bring forth the ability to provide every population on earth plentiful clean water, food, and shelter; and by making energy and resources abundant and cheap, while ending our dependency on fossil fuels, it will remove the very things that motivate countries to fight other countries. As Neil said "the Bazos' and Musk's of the world will achieve these advances out of greed; becoming the first Trillionares, rendering themselves and the concept of money obsolete". Logistics involved in these achievements will be staggering enough; without the financial logistics getting in the way, which is also what will push doing away with money.
The very nature of achieving these goals will require advances in new materials, technologies, and science, which will all help to speed up this technology revolution even more.
Without conflicts, economic classes, and the ending of countless social problems; the money now wasted on militaries around the world, spent on influencing politics, etc, will also help transform society during this transition. White color jobs can more easily replaced with A.I., than Blue Collar Jobs; further making the ruling class unnecessary.
The population deines we are beginning to see; due to collapsing birthrates, will both help the environment, and make this revolution even easier to achieve
This will transform the face of society; redefining the purpose of education and what we define as work. This will w.oower the poor and homeless, end many of the causes that lead to poverty, homelessness, inequality, etc.
The alternative is the repeating cycles of economic crisis; that lewd to conflicts, the lack of resources like food and water that causes conflicts around the world.
This dude has ZERO credibility/accountability. His only value is as a contrarian indicator : If he is bearish, then stay invested and make money. If he turns bullish, time to sell.
The pigs are at the trough. Be careful what you wish for.
the correction is starting today
god damn, another rant, he just doesn't stop!
Rosenwrong
17:30 He's explaining it all. He is just fighting previous wars: 2008, 1999, 1987.
Damn Dave must have got torn up across social media after his mea culpa on Maggie lakes channel last week. Complete 180, digging his heels in and being stubborn. I’d say he’s 6 mos to 1 year from becoming the new harry dent. No recession within that time frame and he becomes just another the collapse is nigh guys who are obsessed with the recession of ‘08. He can always start writing for zerohedge I guess
He provides more info/evidence for his argument than Harry.
@ He cherry picks the data that suit his narrative. The amount of data that we use to measure the economy has exploded over the years; there are so many ways to slice and dice it that one could make a good case for whatever scenario pops into their mind. But buried in all this is the truth, reality. Whether he likes it or not, growth has remained positive; it doesn’t matter if excessive government spending is the cause. Or his other go to excuse, that government data is faulty or outright manipulated. He’s been dead wrong about recession for years now
@@mattsmith8497 He’s unusual in the sense that his evidence is given, as they say, “against interest.” He could make more money sure-coating his stats, but he doesn’t.
This guy has been wrong for past five years.
He has been wrong for years
I expect 2025 to be a terrific boom, and in 2026 I expect the crash to commence. The crash will be more terrific than what we have seen in 08 and 09. This next crash in 2026 will be as bad or worse than 1929
Long winded bla bla bla.....boring interview!