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 311 was recorded on February 17th, 2022. I'm Eric Townsend. This episode

is brought to you by ABIC's Technologies, pioneering the design of smarter markets that

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

billion dollar alternative investment platform that lets you invest in art by legends like

Warhol and Picasso for a fraction of the cost.

Bianco Research Founder Jim Bianco returns as this week's feature interview guest. Jim

and I will discuss everything from inflation to bond yields to the equity market outlook

and will even touch on what the decentralized finance revolution might mean to fixed income

markets in years to come. Then be sure to stay tuned for our post game segment when Patrick's

chart deck is titled, Is There More Downside for Markets?

And I'm Patrick Sarresna, Eric. Let's jump into that S&P 500. Obviously the last week

has saw a lot of geopolitical news between Russia and Ukraine whipping the markets higher

and lower. But generally, the market is pretty weak. It seems every rally is failing and

we're sitting down very close to the 4,400 level at the time of recording. What's your

take on the markets? Patrick, I think the extremely unusual geopolitical backdrop is really

important to understand. And here's the way I see it. I think we have a divided society

in general, but that also means divided market participants in terms of everyone's personal

...