Some people are still trying to pretend that the prospect of a U.S. recession is still an open question. Jerome Powell is one for obvious reasons – he’s not a legitimate observer of actual economic conditions, but the chief salesman for Wall Street banks and their dodgy products.
So, he cannot be trusted to do anything except soft-pedal anything and everything while painting as rosy a picture as possible.
In this Inside Take, I provide plenty of evidence that the recession indicators we have are screaming “hard landing” while the bond and interest rate markets are already predicting that the Fed will have to reverse course all too soon and actually begin cutting rates.
When? By 4Q 22 or 1Q or 2Q 23, depending on the market indictor we trust.
What should you do if that happens? RUN! Run to your nearest and preferred method of spending what cash you have on anything that you can.
That will be the starting gun for the final phase of the destruction of fiat currencies. Early movers always enjoy the best advantages.
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