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 299 was recorded a day early this week on Wednesday November 24th,

2021. I'm Eric Townsend, happy Thanksgiving. This episode is brought to you by ABAC's

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.

Lynn Alden returns as this week's feature interview guest and we're going to keep

the inflation debate going as Lynn weighs in on where she agrees and where she disagrees

with the views Jeff Snyder expressed on last week's podcast. Then be sure to stay tuned

for our post game segment when Patrick's chart deck is titled Talking Charts.

And I'm Patrick Sarresna. Now Eric, let's jump into the S&P 500 here. The market attempted

to make a higher, higher earlier this week and rejected and it's been chopping about

now for pretty much five six trading sessions, but really no bearish trend yet. What's your

take on this consolidation? Patrick, I'm fond of saying that the market's

reaction to the tape is more important than the tape itself. And you know, we've got people

that are starting to get panicky because it's been three whole days since there was a new

all time high stock market. I think that we're in uptrend conditions. The meltup continues.

There's no reason to question it. All right, Eric. Well, we've got to touch on that

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