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 328 was recorded on June 16, 2022. I'm Eric Townsend.

This episode of Macro Voices was made possible by respect energy, a leading European trader

of renewable energy and a one-stop shop for all green energy investors.

Energy markets guru Dr. Anas Alhaji returns as this week's feature interview guest. We'll

be taking a deep dive on energy markets, particularly oil and gas. We'll discuss Russia's

war campaign, OPEC Plus spare capacity or lack thereof, Europe's dependency on Russian

natural gas and how much US exports can really ease that dependency and much more. Then

be sure to stay tuned for our post game segment after the feature interview when Patrick's

chart deck will be titled sizing up the liquidity event risks.

And I'm Patrick Sarrezna, Eric. Let's jump to that S&P 500. The Fed goes on, gives a 75

base point with the market wanted. The rally lasts exactly one hour and then by the Asian

session overnight we were already selling and here we are down 112 points at the time

of recording under 3,700. What do you make of this?

Well last week I said that I'm coming around to a worse than 2008 bearish view on the economy

and markets but it all hinges on whether I'm right that inflation isn't really as transitory

as most people think. Well the very next day the CPI overshot expectations and the bottom

fell out of the market and we've been selling off ever since. Now that doesn't necessarily

...