David Hunter On Melt Up In Stocks, Global Bust, And Gold $20,000 Call

The Julia La Roche Show, Released on 6/27/23

Hunter, who’s been in markets for 50 years, is calling for the end of a 41-year bull market. He expects the market will continue to melt up, forecasting the S&P peak at 6,000 to 7,000 before a global bust. He’s also bullish on gold, calling for $3,000 by the end of the year. He also made a case for why gold could soar to $20,000 in the decade’s second half.

0:00 Intro
0:40 Becoming a contrarian
2:40 Macro view
5:18 Stock market is one of the best leading indicators
8:40 What is market forecasting?
11:22 Another melt up in the market
16:39 Calling for the end of a 41-year bull market
18:24 Economic and market cycles
20:17 Global bust forecast for 2024
23:05 Forecasting S&P peaking at 6,000-7,000, before 80% drop
29:00 Deflation
34:30 Bullish gold, calling for gold $3,000 this year, $20,000 second half of the decade
41:00 Outlook for the U.S. Dollar
44:00 Treasuries
47:00 The debt is ‘a giant Ponzi scheme’
49:20 Challenge to the thesis
52:30 Parting thoughts

Steve Hanke is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a senior fellow and director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and co-director of the Johns Hopkins University’s Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore, Maryland. Hanke is known for his work as a currency reformer in emerging-market countries. He was a senior economist with President Ronald Reagan’s Council of Economic Advisers from 1981 to 1982, and has served as an adviser to heads of state in countries throughout Asia, South America, Europe, and the Middle East. He is also known for his work on currency boards, dollarization, hyperinflation, water pricing and demand, benefit-cost analysis, privatization, and other topics in applied economics. Hanke has written extensively as a columnist for Forbes magazine and other publications. He is also a currency and commodity trader.

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