Make or Break: Inflation - Everything Has Changed Since 2019

Real Vision: Finance & Investing

Real Vision

Business News, Business, Investing, News

4.1 • 1.1K Ratings

🗓️ 30 December 2022

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

There’s no going back to 2019, according to Jim Bianco, and the sooner we accept reality the better we’ll be able to see new opportunities. The post-pandemic global economy is fundamentally different, and the “easy money” era is over. In the final episode of our ‘Best of 2022’ series, Raoul Pal welcomes the founder of Bianco Research for a talk about inflation and the longer-term implications of soaring consumer prices. Raoul and Jim agree on many issues – that the U.S. is already in recession, for one. But they also disagree on other big points, such as inflation. As Jim sees it, the Federal Reserve is going to crush inflation, but consumer prices are still going to settle at a higher level. This is a can’t-miss conversation between two great macro minds on a critical “Make or Break” issue. Recorded on Wednesday September 21, 2022. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.5	This episode is brought to you by London Business School.
0:03.6	Looking to accelerate your business or understand the opportunities in AI or ESG,
0:08.7	are you thinking about taking the plunge into entrepreneurship,
0:11.6	or about what leadership skills will take you to the next level?
0:14.8	To listen to the latest insights and discussion from LBS faculty,
0:18.5	subject experts and industry insiders, look for podcasts from London Business School.
0:23.6	Navigate the now and be prepared for what's next with London Business School.
0:30.0	We are never going back to a pre-pandemic world.
0:33.9	That's the key message from Jim Bianco in this interview with Rao.
0:37.6	To cap off our best of 2022 series, we're bringing you this cant missed discussion
0:42.9	in which Jim Bianco argues that inflation is here to stay and explains why the US economy will never
0:49.6	look the same way it did before the COVID-19 pandemic.
1:00.6	Jim Bianco, how the devil are you?
1:03.2	Oh, I'm doing good. How are you Rao?
1:05.3	I'm great, my friend. Listen, are we going to make it or are we going to break it?
1:10.5	That's the big question we need to figure out here. Where do you lie?
1:15.2	Oh, I think we're going to break it. I think we're going to break inflation.
1:19.8	And there's going to be collateral damage along the way.
1:23.1	And I think the Fed has made it very clear that they're okay with collateral damage.
1:30.0	I'll give you one example. During the press conference,
1:34.8	Mike McKee of Bloomberg said, you guys are projecting 4.4% inflation for next year.
1:41.0	That's the new updated dot chart from the Fed.
	...

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