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 Sarresna.

Macro Voices Episode 292 was recorded on October 7th, 2021. I'm Eric Townsend. This episode

is brought to you by Abbex Technologies pioneering the design of smarter markets that better

serve the needs of both market participants and society as a whole. And by escrow.com,

the world's most secure online payment system from a counterparty risk perspective because

the funds sit in escrow. Economic historian Russell Napier returns

as this week's feature interview guest. We'll begin by exploring whether the developing

situation in China changes the inflation calculus and then go on to talk about rates inflation

and where this whole macro picture is headed. Then be sure to stay tuned for our post-game

segment when Patrick's chart deck is titled, What's Next for the Markets Energy and Gold?

And I'm Patrick Sarresna, Eric. Let's talk to SMP 500. Boy, that was quite a one two

day little reversal. We find ourselves north of 4400 on the SMP. What's your take on the

price action? Still want to see north of 440036 just to be above that cluster of moving

averages to say that the bounce is really on. This is kind of what I expected a little

later than I expected. I thought it was going to be before we got as far down as we did before

we saw this reversal. But I don't think the taper announcement is going to be enough to crash

the market. We've been through these tapers before everybody knows that eventually the fed's

going to come to their rescue. So I don't think the market is going to freak out as much as it did

...