This is Macro Voices with hedge fund manager Eric Townsend, the free weekly financial

podcast targeting professional finance, high net worth individuals, family offices, and

other sophisticated investors. Macro Voices is all about the brightest minds in the world

of finance and macroeconomics telling it like it is. Bullish your bearish, no holds

barred. Now here are your hosts, Eric Townsend and Patrick Sarasna.

Macro Voices episode 217 was recorded on April 30, 2020. I'm Eric Townsend. This episode

of Macro Voices is dedicated to healthcare workers all over the world, the true heroes

of the COVID-19 pandemic crisis and is brought to you by top traders on Plut.com, a podcast

dedicated to quant and rules based investing, helping investors overcome behavioral biases.

We've got another terrific episode on deck for you this week.

Hoysington Asset Management Chief Economist Dr. Lacey Hunt joins me for what has to be

his best Macro Voices interview yet. We'll discuss why Dr. Hunt thinks deflation will

be the name of the game in the immediate future and what it would take to cause him to

change his deflationary views. We'll also discuss the critical question of whether the zero

bound is really a boundary or if it's just another number along the way toward negative interest

rates. Then be sure to stay tuned for our post-game segment when Patrick and I will have an extended

conversation over charts about what we believe is the end of a bear market rally and the stock market.

But we'll consider both sides of that argument. Is the top finally in or are we headed back above

3000? And I'm Patrick Sarasna. Now listeners we have a detailed update of the COVID-19 crisis

in our post-game segment to after the feature interview. Now Eric let's dive right into the S&P 500.

We got a little bit of a pop on the Fed and then it's giving it all back. What's your take on all of

this? Well, I've been saying for weeks and weeks and weeks that I think it's a bear market rally

...