Richard is in Thailand where the virus never took hold despite the fact that thousands of Chinese visited prior to the outbreak. Assuming the virus doesn’t return, we’ll be viewing this as one of the great economic experiment in history. In the US, credit growth has been the great driver of economic expansion. When credit growth slowed or ended, we saw recessions take hold. During 2008-09 credit growth slowed and the Great Recession ensued. Then the Fed reflated with asset inflation. Now we’re in a new paradigm. The virus has been a huge blow to the credit based economic growth cycle. The Fed is doing everything in its power to keep the credit bubble growing. What will it look like after the Virus? If we let everything collapse then the government’s debt will explode anyway. $5-10 trillion in new debt is coming. The Fed will have to underwrite it. Their balance sheet has expanded 52% in the past 6 weeks. What would happen it there’s no new inflation and the world doesn’t end? If not, we’re living in a new economic environment. It will be a brave new world. Make sure you take advantage of Richard’s special offer to MacroWatch, just use the code FACTS. And sign up 

Direct download: Richard_Duncan_29.Apr.20.mp3
Category:general -- posted at: 8:01am EDT

As Karen says, we're seeing an attempt by petty tyrants to micromanage our lives. People are fed up and they're reaching their breaking point. What will push them over and cause a mass movement against the wannabe dictators. If they don't back off soon, they're going to find out shortly. The time for quarantining is over and it's time for everyone to open their businesses and get back to work. 

Direct download: Karen_Kataline_29.Apr.20.mp3
Category:general -- posted at: 8:00am EDT






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