Jim Rickards: Fed, stocks, the economy, supply chain, inflation, Ukraine, Russia, China and more

The Julia La Roche Show, Released on 10/11/22

Best-selling author Jim Rickards joins Julia La Roche on episode 21 of the podcast to discuss his outlook on why a severe recession is coming and how to prepare for it.

0:00 Intro
0:44 Views on the global economy
1:35 U.S. ‘almost certainly’ in a recession
3:08 What’s coming is a ‘very severe’ recession
3:43 Supply chains breaking down
4:50 Bloated inventories, slashing prices
5:15 Fed tightening rates into weakness
5:45 The stock market is starting to get the message
6:23 The Fed pivot crowd face huge fallacies in that narrative
10:40 Bottom might not be until late 2023
11:40 We’re going to wake up with winter with a severe recession, high unemployment, and a much lower stock market
12:30 Explanation of financial crises and recessions
19:30 Recession may be worse than 2008
21:01 Odds of a financial crisis are ‘uncomfortably high’
22:26 Fed raising rates to curb inflation will be effective at a ‘very high cost’
24:02 Deflation/disinflation coming down the tracks
24:46 2 types of inflation explained
29:16 The impact of debt is like an extremely powerful glacier
35:40 Thoughts on MMT
44:30 Debt does matter
45:05 Deflation is ‘pure poison’ when it comes to the debt-to-GDP ratio
51:09 Thoughts on U.S. Dollar, currency fluctuations
58:46 Diversifying your portfolio

Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is The New Great Depression: Winners and Losers in a Post-Pandemic World. His work can be found at The James Rickards Project.

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