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 Sarrezna.

Macro Voices Episode 300 was recorded on December 2, 2021. I'm Eric Townsend. 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. We wanted to bring you a credible disinflationist to keep the

secular inflation debate going for our 300th episode, and they don't come much more credible

than David Rosenberg. Rosie will describe the reasons the inflation we've already seen

has occurred and why he doesn't think it will last. We'll also discuss stock prices,

bond yields, and precious metals. Then be sure to stay tuned for our post-game segment

when Patrick's Chart Deck is titled Correction or Crash.

And I'm Patrick Sarrezna. Eric, let's get to the SMP 500. Man, how much has changed

in a week? Last week we were looking at the market trading up around the 4,700 level,

and here we now find ourselves in a week later with a 5% 250 point SMP correction of some

sort. Now I want to talk about it a little bit in the post-game, but what's your take

on? What's going on? Patrick, I think the entire

move in both stocks and particularly in crude oil has been an overdone exaggerated reaction

to a scare about the Omicron strain of the coronavirus. And for those people actually

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