Asset prices have never boomed this quickly, by this much, in history. The cause? The Fed’s unlimited money printing and keeping interest rates artificially low. The result? The stock market is now playing a game of chicken, with this inflation move, interest rates and the response from central banks.
Powell is willing to gamble that price increases are transitory. The problem is that if you wait to find out whether or not that is true, it could already be too late. Hence the game of chicken. And games of chicken are often reckless and dangerous, with dire consequences.
There’s a saying: don’t let the inflation genie out of the bottle. Well, Aladin has rubbed the lamp. There is clear inflation taking over, but the risk lies in the Fed waiting too long. The concern now is the risk of a vicious feedback loop between actual inflation and expectations.
Today’s special guests:
Elias “The Spartan” Theodorou:
Elias is set to become the first athlete to compete in a professional sport in the US with an exemption for medicinal cannabis. The former UFC star and winner of The Ultimate Fighter is fighting Bryan Baker on Saturday, December 18. This is “The Mane Event” of the Colorado Combat Club 10 event. But perhaps a larger battle is his fight against the stigma of cannabis in sports.
Roundhill Investments Co-Founder & CIO Tim Maloney
Roundhill Investments offers investors targeted, pure-play exposure to the investment themes of the future through 7 different ETFs. The most popular of which is the company’s metaverse ETF: NYSE:META. The META ETF crossed $500 million in assets under management after just two weeks since reaching $250 million. The obvious metaverse surge recently is due to Facebook’s name change to Meta.
Publisher of the finance & econ site Wolf Street: Wolf Richter
We were lucky enough for Wolf to join us to discuss the Fed’s game of chicken, massive price increases, and the cost of monetary policy to Americans.
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