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Will there be no landing? Welcome to the Real Vision Daily Briefing.

It's Monday, September 18, 2023. I'm Ash Bennington, joined today by Jim Bianco,

President of Bianco Research, Jim. Always great to be with you on these shows and elsewhere.

Yes, thanks for having me and to everybody paying, uh, watching us wake up because it's been

that kind of day in the market. Yeah, it's been a little sleepy. We're we close on the day,

is it is it perfectly flat? It is essentially flat. The S and P's up a whole six basis points

or two points overall. All right, Jim. So let's talk a little bit about the broader thesis,

the broader context here. I use that phrase, no landing at the top of the show. It's something that

you used in your note to us earlier today. Explain what no landing means in the context of this

background. Yeah, so I got to give Torston's Lock at Apollo the credit for pointing the phrase.

We all talk about a hard landing, which is a recession. We talk about a soft landing. And so in

keeping with the airplane metaphor and no landing is the plane doesn't land. It just keeps going.

The economy just keeps producing positive quarters. That's what an old landing is.

I happen to be in the no landing camp, but as the show unfolds, I'll actually make the case that

that is not as bullish as people think. I know people have finished with like one of tear my tonsils

because they're all bearish and they all don't like the no landing idea, but

no landing means higher interest rates is what that means. And that may become a serious retardant

to any kind of a rally in the market moving forward. So the idea here, Jim, is with no landing

scenario. Essentially, you just keep putting together a positive quarter after a positive quarter

...