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 218 was recorded on May 7, 2020. I'm Eric Townsend. This episode

of Macro Voices is dedicated to healthcare workers worldwide, the true heroes of the

COVID-19 pandemic crisis. It is brought to you by top traders on plug.com, a podcast dedicated

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

Economic Cycles Guru Lakshman Achuthan, founder of the Economic Cycles Research Institute,

Ekri. Will join me as this week's feature interview guest. We'll discuss what economic

cycles teach us about recessions which are driven by exogenous shock events and what

we might expect the recovery from the COVID-19 recession to look like. We'll also discuss

longer term cycles, including the shift from secular deflation to secular inflation or

stagflation and the outlook for US-China relations after the crisis. Then be sure to stay

tuned for our post-game segment when we'll take another deep dive into the crude oil market

and discuss the epic reversal in WTI time spritz, what it means for both on land and floating

storage as well as the price outlook for next week's options expiration.

And I'm Patrick Sarasna. Now listeners will have a detailed update of the COVID-19 coronavirus

crisis in our post-game segment after the feature interview. Now Eric, let's dive into

that S&P 500. No sooner did we finish recording last week. Did that Friday the S&P dive to

the downside and spend more or less all week retracing some of that? We're about 2876 on

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