Beware The Credit Event!
Peak Prosperity
Chris Martenson
4.7 • 591 Ratings
🗓️ 30 August 2023
⏱️ 54 minutes
🧾️ Download transcript
Summary
This week on Off The Cuff Michael Gayed, CFA, and I discussed his views on the markets, the economy, and where they are headed.
Michael thinks there’s a “credit event” coming that will shake it all up.
Transcript
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| 0:00.0 | Hello, everyone. Welcome to this edition of Off the Cuff with Chris Martinson. I am your host today, as always. |
| 0:05.8 | And today we're going to be discussing economic matters, education around economic matters and finance. |
| 0:11.2 | Why? Because you need to understand what's happening in order to position yourself properly and get ready for what's coming. |
| 0:17.3 | Today, we have a really special guest. I'm so excited to finally be talking in this |
| 0:21.5 | venue with Michael Gaiad. Michael, welcome to the program. I appreciate being on the other side of it |
| 0:27.8 | this time around. So thanks for the invite. Absolutely. So I really appreciate what you do on Twitter. |
| 0:33.5 | I've been following you there for a while. That's at Lead Lag Report on Twitter. You've got, |
| 0:38.6 | what, three quarters of a million followers there. You do just a great job. And it's been fabulous |
| 0:43.7 | learning from you. So here's the premise of today's program. I think that there's some obvious |
| 0:49.8 | disconnects out there, whether it's the fiscal position of the United States government, whether it's, |
| 0:54.9 | you know, when is the Fed going to pivot and start printing again? You know, what do we do with these |
| 0:59.0 | outrageous levels of mortgage debt, credit card debt, auto debt that we're seeing on the consumer |
| 1:03.9 | side? There's a lot of things to detangle. I want people to know about this because I'm worried, |
| 1:08.4 | Michael, that people are going to get hurt in this next |
| 1:11.0 | downturn, which is going to have the same seeds of its own destruction as the last downturn, |
| 1:16.6 | which is, oops, we kind of overdid it in a number of dimensions. That's my theory. And so I just |
| 1:22.4 | want to parse that with you, but mostly I want to help people decode what I think is an |
| 1:27.1 | unnecessarily |
| 1:27.8 | complex landscape of finance and help them understand this so they can make better decisions. |
| 1:34.2 | That term, um, justifiably scared, I think is an interesting way to think about what's going on here |
| 1:40.5 | because the reality is there are a lot of disconnects and divergences just as you |
| 1:45.4 | alluded to, right? And so even today, as we're recording it in early August, right, I just put out |
... |
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