Chris Whalen: We’re One Bad Treasury Auction Away From Trouble

Adam Taggart | Thoughtful Money, Released on 7/5/24

Today’s guest wrote the book “Inflated: How Money & Debt Built The American Dream”

In it, he wrote: “The first rule of any fiat system is no fiscal deficit.”

Well, the US — and virtually every other G7 country — is breaking that rule six ways to Sunday given the unprecedented record levels of deficit spending currently underway. Does that mean we’re headed for trouble? To find out, we’ll ask the author himself, Chris Whalen, Chairman of Whalen Global Advisors LLC and expert on the banking, mortgage finance and fintech sectors.

0:00-4:35 The Threat Of ‘Too Much Debt’
4:36-7:24 Will Will Adopt A Smarter Course In Time?
7:25-9:37 The Eurodollar Market
9:38-25:09 Deficits & Inflation
25:10-29:08 Where Is Inflation Headed?
29:09-37:30 Banking System & Recession Risk?
37:31 Market Outlook

Richard Christopher Whalen is an investment banker and author who lives in New York City. He is Chairman of Whalen Global Advisors LLC and focuses on the financial services, mortgage finance and technology sectors.

Adam Taggart is the Founder of  Thoughtful Money. He is also Co-Founder and former President of Peak Prosperity. Adam is an experienced Silicon Valley internet executive and Stanford MBA. Prior to partnering with Chris Martenson (Adam was General Manager of our earlier site,, he was a Vice President at Yahoo!, a company he served for nine years. Before that, he did the ‘startup thing’ (, sold to CNET in 2001). As a fresh-faced graduate from Brown University in the early 1990s, Adam got a first-hand look at all that was broken with Wall Street as an investment banking analyst for Merrill Lynch. Most importantly, he’s a devoted husband and dad.

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