BTC172: Macro Outlook Q1 2024 w/ Luke Gromen (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 6 March 2024

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Luke Gromen navigates through Berkshire's $167.6B cash, his 2023 market optimism, US liquidity measures, and escalating real estate loan concerns. He discusses inflation's return, unemployment trends, interest rates, and Bitcoin's impact on energy. The dialogue also touches on the Fed's control illusion, CEO stock sales, Bitcoin's fiscal role, auction failures, QE's return, and treasury yield trends, providing a rich macroeconomic overview amidst evolving market dynamics. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:05 - How Berkshire Hathaway's substantial cash reserve positions it in the current economic landscape. 08:13 - The pivotal factors that flipped Luke Gromen from a bearish to a bullish market stance in early 2023. 12:20 - The implications of re-accelerating supercore inflation on the economy and monetary policy. 12:20 - How interest rates are expected to evolve through the rest of the year and their effect on investments. 46:08 - The specific liquidity levers the US is currently pulling to navigate through economic challenges. 46:08 - Predictions on unemployment trends and their impact on the broader economic recovery. 57:25 - Insights into the escalating crisis in commercial real estate loans surpassing loss reserves at major banks. 01:09:57 - The transformative potential of Bitcoin in changing the energy landscape and its broader economic implications. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Luke’s FFTT research. Luke’s Twitter account. Luke’s two books. Related Episode: Listen to BTC136: The FED Pause & Q2 Current Events w/ Luke Gromen, or watch the video. Related Episode: Listen to BTC101: 4th Quarter Macro Overview w/ Luke Gromen, or watch the video. Check out all the books mentioned and discussed in our podcast episodes here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok. Check out our Bitcoin Fundamentals Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota NetSuite TurboTax Wise Fidelity CI Financial Linkedin Marketing Solutions Fundrise NDTCO Vacasa NerdWallet Babbel Shopify Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to TIP.
0:02.0	Hey everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals Podcast.
0:07.0	This episode is brought to you by River, the place that I personally go to securely invest in Bitcoin with confidence and with zero fees.
0:15.0	Today's guest needs no introduction as I've got the one and only Luke Roman back on the show to talk
0:20.3	all things macro. During the show we cover some interesting ideas like Berkshire Hathaway
0:25.2	squatting on a $167 billion in cash, what the central bankers are doing to create so much liquidity
0:32.4	into the global economy, and are we even going to create so much liquidity into the global economy and are we even
0:34.8	going to see a quote-unquote recession among many other fascinating and
0:39.7	interesting topics so without further delay here's my chat with Mr Luke Gromen.
0:45.0	Celebrating 10 years.
0:49.0	You are listening to Bitcoin Fundamentals by the Investors Podcast Network.
0:55.0	Now for your host, Preston Pish. Hey everyone welcome back to the show. I'm here with the one and only Luke Roman thrilled to have you.
1:12.2	Thanks for having me back, Preston.
1:14.0	I always enjoy our talks.
1:16.0	I'm really looking forward to this one.
1:18.0	So here's where I want to start this, Luke.
1:20.0	Warren Buffett, Berkshire Hathaway just just came out with their shareholders, uh, letter.
1:25.0	A hundred and sixty seven point six billion dollars in cash sitting on the balance sheet.
1:33.0	What in the world is going on?
1:37.0	A hundred and sixty seven billion in cash.
1:41.0	The reason I want to start with this question is because I think it just encapsulates everything like the confusion that everybody has with what's going on in the market right now from a macro standpoint, right?
1:55.9	You have some would say the best capital allocator that's ever lived squatting on just an absurd amount of cash. You have Jamie Diamond that has
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