Now Comes the Global Energy Crisis

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 19 July 2022

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Goldman Sachs and Bank of America posted solid headline-level earnings this morning, both benefiting from higher interest rates during the second quarter. But both also posted significantly higher provisions for bad loans, a sign of concern for the health of debtors. Meanwhile, hope for some sort of relief from Saudi Arabia appears to be the forlorn variety, as Desert Kingdom officials declined to make any promises regarding future crude oil output increases. European Union officials, in a sign of increasing desperation, did cut a natural gas deal with Azerbaijan. Luke Gromen, the founder and president of FFTT, joins Real Vision’s Andreas Steno Laresen to talk about what happens when the Federal Reserve pushes the U.S. economy into recession to fight inflation. According to Gromen, many investors and policymakers are “seemingly oblivious to what the Federal deficit has done in the two recessions prior to COVID.” We also hear from Alexander Stahel about Vladimir Putin’s ongoing effort to inflict maximum pain on Europe via the weaponization of natural gas. Watch the entire interview featuring Alexander Stahel and Andreas Steno Larsen here: https://rvtv.io/3PGdw9n. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:46.9	Hi everyone, and happy Monday afternoon.
0:55.8	Welcome to the real vision daily briefing.
0:58.6	I'm Andreas Steynou, the senior editor at Real Vision, sending to you live the 18th
1:03.8	of July.
1:05.6	The economic slowdown is rather evident again if we watch the news flow of the day.
1:12.0	Apple is planning on slowing spending and hiring growth.
1:16.3	Due to the upcoming economic slowdown, basically, and that news led equities lower on the day
1:23.0	with Nasdaq ending almost 1% lower.
1:26.9	To debate what lies ahead for the economy with me today, I've invited a macro economic
1:32.6	superstar, in my view, to the show Luke Roman, the founder of Forest for the Trees.
	...

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