This is trend following radio where great thinking comes alive.

Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.

I am your host, Michael Coval.

Not filtered, raw, honest.

That's my passion.

My guest today is Henry Kaufman.

He's an economist, formerly of Solomon Brothers, known affectionately by the name Dr. Doom. He is 93 years young. Today we discuss his book, his new book, where he's talking about his call that he made in August of 1982, which then went on to be a massive bull market

from that point in time.

I always enjoy the opportunity on this podcast to bring on historical figures.

Now, we don't get a full hour with Henry today, but still, he does have one particular warning or insight for all of us that we may

want to consider.

Look, Henry and 93 has seen a lot of cycles and a lot of different types of markets.

So I find his warning especially, let's just say concerning.

Without any further delay, let's jump right in with my conversation with Henry Kaufman.

Let me take you back, though, in because you've got this cool new book out that I have in

front of me. You've got a lot of experience. We're talking decades on Wall Street. In my limited

time with you today, what I want to, in fact, I almost want to start at the end, because when I look

at the very last paragraph of

your book, you're kind of given ominous warning to all of us. You say very clearly that we

could be perhaps moving from a capitalistic type America to a statist America. Let me let

you start right there and why you would say something like that.

Well, this is because the federal government and the central bank, the Federal Reserve,

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