As the price of oil now drowns in oversupply, financial bubbles bust retirement plans once more, hundreds of thousands of overvalued ‘investment’ properties sit empty and income-less in cities all over the globe, and inventories of excess consumer goods like autos pile up (see Gm, Ford credit, may lose billions on car-price plunge), unfettered central banks should be top of the reform list. They are the enemy of self-correcting forces, free markets and personal accountability the world over, and we cannot afford this plague to continue.
Unusually frank discussion. Need more of these. Danielle DiMartino Booth: “Recession Coming? The Fed’s Endgame” (Hedgeye Investing Summit) https://t.co/jd8wtgUmv9 via @hedgeye
— Danielle Park (@kdaniellepark) April 15, 2020
Below is the segment Danielle mentions from Pimco’s Mark Kiesel. Real talk on behavioural evolution now underway–much needed, even though it means less consumer spending in the economy.
Mark Kiesel, global credit chief investment offices at Pacific Investment Management Co. (Pimco), warns the economic fallout from the coronavirus pandemic might be worse than what investors are expecting. Here is a direct video link.
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