This is Macro Voices, 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 or bearish, no holds barred.

Now, here are your hosts, Eric Townsend and Patrick Sarrezna.

Macro Voices Episode 363 was produced on February 16, 2023. 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.

Mr. Cycles himself, Eckery Co-Founder, Lakshmana Truth & Returns, is this week's feature

interview guest. We'll revisit Laksh's recession call from last summer, which he's still committed

to. We'll also examine the growth, business, and inflation cycles, along with Eckery's

leading indicators, which are plumbing lows never seen before, except during the depths

of the 2008 market crash.

Now, I'm Patrick Sarrezna. Listeners, be sure to stay tuned for our post-game segment

after Eric's feature interview with Lak as Eric. Nick and I discuss the charts in the

S&P 500, NASDAQ, VIX, Gold, Oil, and more. Now, Eric, before we move on to the feature

interview with Lak, let's cover some crude oil starting with those EIA inventories.

EIA printed a massive 16.3 million barrel build on inventory, which normally would be

extremely bearish. Cushing Oklahoma building 659,000 barrels, gasoline building 2.3 million

barrels. The only drawdown on the board was distill its down 1.3 million barrels, US production,

holding steady at 12.3 million barrels. Tape action, brief down move, which of course

there has to be after such a massively bearish inventory report, only lasted a few minutes

...