The Peter Shift Show.

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We had quite a day and quite a week, economic data,

the markets, and I guess I could say,

I told you so, if you watched or listened to my podcast that I did on Friday of last week because during that podcast I pretty much predicted what we saw this week.

I put my finger on the strength of the Japanese

and what that potentially foretold for risk assets.

I pointed to the continuing preponderance of weak economic data and I pointed out the emerging trend that I had noticed

where investors were rotating out of growth and into value.

And I postulated last week that it looked to me like investors were now finally starting to price out the soft

landing and they were starting to price in a harder landing. And I also warned that if Jerome Powell didn't take advantage of the

September meeting, which we just had a couple days ago to cut rates and I suggested

a 50 basis point rate cut to be preemptive on what I saw was the potential for a market crash.

I said on last week's podcast that if the Fed didn't cut by maybe 50 basis points

on its next meeting that it risked a stock market

crash if it even waited till September and I said that the recession would

officially begin then with a stock market crash.

Now of course we've been in recession all year,

maybe even longer.

...