Stephanie Pomboy: It's Just Dumb To Dismiss Recession Risks At This Point
Even the US Treasury Secretary expects a slowdown
Macro analyst Stephanie Pomboy and I just concluded our bi-weekly live show.
This week, Stephanie focused on recession risk and the mental gymnastics many go through to avoid addressing it.
Not only are the economic data continuing to weaken, but even the new Administration is telling investors to prepare for a slowdown.
Here’s US Treasury Secretary Scott Bessent yesterday:
“The market and the economy have become hooked, become addicted, to excessive government spending and there’s going to be a detox period.”
At this point, to refuse to plan for even at least the possibility of a recession and/or a further market decline later this year is foolish.
Steph and I also discussed her outlook on gold, the employment market, corporate profit margins, the latest retail sales data and several other audience questions.
NOTE: these bi-weekly Monday morning live shows with Stephanie are moving to Wednesdays going forward. The next one will take place on Wed March 26th (same 11amET time).
If you missed today’s live show, you can catch the replay by clicking here or on the video below:
SMASHING SUCCESS!: Our Spring online conference took place this weekend and received outstanding reviews. If you missed it, buy the replay of the full event here:
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Adam, I've not been following your channel as much because the full gravity of the economic situation is not often mentioned, even in passing.
Americans need to realize that a turning point has been passed. To global audiences, the US has shown that it is no longer a serious trading partner, and the centre of finance and trade in the democratic world is irreversibly shifting to the EU. Why negotiate or sign trade agreements with the US if the next regime simply ignores them?
The Euro will quickly become the global banking currency and the foundation of international commerce -- the US is no longer trustworthy as a steward of the international banking system the West relies on to control organized crime, enforce sanctions, etc.
Canada has a new free trade agreement with the EU and we are in the process of realigning our economic and military alliances to be independent of the US. Canada just cancelled our participation in the F-35 fighter program. We have major ports to export to Asia through BC, and to Europe through Atlantic Canada.
Trump's "jokes" of forceably absorbing Canada economically and politically are serious threats since he follows through on all his "jokes".
The real question is how bad the economic pain for Americans will need to be, and political chaos will become, before the US gets its political house in order. No other advanced economy is in such shambles. This is not just the Trump regime, it is the decades-long dysfunction in Congress.
Rewrite your constitution. It is not working.
Great video and insights. @AdamTaggart Can you walk though the gold selling process (no plans to sell but just curious. Also what percent vs spot did they get vs selling using a brand-name online bullion company?