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 301 was recorded on December 9, 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. MI2 Partners founder Julian Brighdon returns

as this week's feature interview guest. Julian disagrees with the transitory inflation

argument posed by David Rosenberg last week and will explain why in the degree of detail

Julian is known for. He's also known for his graphs and charts, so don't miss this week's

slide deck. Then be sure to stay tuned for our post game segment when Patrick's chart

deck is titled Correction or Crash Part 2. And I'm Patrick Sarrezna, Eric. Let's jump

straight to that S&P 500. We were in a correction last week. Seems to be at least some sort of

short term bottom in there and we're trading right back near the 52 week high. What's your

take on how this is all developed? Well, I think it's pretty much just what we predicted

last week, which is Omicron was overstated in terms of its risk to the economy. It is

a big deal. It's going to be much more transmissible than any of the other strains, but it looks

like it's going to have lesser symptoms. There's even an argument that it could crowd out

the delta strain and be a blessing in disguise. So it seems like Omicron panic has retraced

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