Steve Hanke's Dire Warning: Recession Inevitable as Money Supply Contracts
<p>Professor Steve Hanke reveals why he believes a recession will strike the second half of 2024 and how you can protect your portfolio.</p> <p><br></p> <p>In this episode of Wealthion, host Andrew Brill welcomes back Steve Hanke, Professor of Applied Economics at Johns Hopkins University and former advisor to President Reagan.</p> <p><br></p> <p>Professor Hanke provides his in-depth analysis of the current economic landscape, breaks down the contraction of the money supply, rising unemployment, and the likelihood of an impending recession. Hanke critiques the Federal Reserve&#39;s recent actions, describing them as significant monetary blunders that have set the stage for an inevitable downturn. He explains how the Fed&#39;s overreaction to early 2020 events led to an unprecedented growth in the money supply, followed by a severe contraction, signaling a challenging period ahead. The conversation also dives into the rising national debt, currently at $35 trillion and increasing, and its potential consequences for future generations. </p> <p><br></p> <p><strong>TIMESTAMPS:</strong></p> <p>00:00 - Introduction</p> <p>01:26 - Economic slowdown</p> <p>03:22 - Fed&#39;s monetary policy</p> <p>06:23 - Interest rates &amp; inflation</p> <p>07:29 - Government stimulus</p> <p>08:40 - Market perception</p> <p>09:45 - Golden growth rate</p> <p>12:57 - Banks &amp; money supply</p> <p>18:01 - Historical recessions</p> <p>20:43 - Unemployment rise</p> <p>22:54 - Market exuberance</p> <p>26:36 - Pricing &amp; wage growth</p> <p>30:22 - National debt</p> <p>33:13 - Inflation tax</p> <p>35:04 - Debt crisis solutions</p> <p>37:42 - Budget process issues</p> <p>38:35 - Fiscal responsibility</p> <p>39:50 - De-dollarization myths</p> <p>41:57 - Gold hoarding</p> <p>43:56 - Conclusion</p>
Wealthion - Be Financially Resilient
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Show Notes
Professor Steve Hanke reveals why he believes a recession will strike the second half of 2024 and how you can protect your portfolio.
In this episode of Wealthion, host Andrew Brill welcomes back Steve Hanke, Professor of Applied Economics at Johns Hopkins University and former advisor to President Reagan.
Professor Hanke provides his in-depth analysis of the current economic landscape, breaks down the contraction of the money supply, rising unemployment, and the likelihood of an impending recession. Hanke critiques the Federal Reserve's recent actions, describing them as significant monetary blunders that have set the stage for an inevitable downturn. He explains how the Fed's overreaction to early 2020 events led to an unprecedented growth in the money supply, followed by a severe contraction, signaling a challenging period ahead. The conversation also dives into the rising national debt, currently at $35 trillion and increasing, and its potential consequences for future generations.
TIMESTAMPS:
00:00 - Introduction
01:26 - Economic slowdown
03:22 - Fed's monetary policy
06:23 - Interest rates & inflation
07:29 - Government stimulus
08:40 - Market perception
09:45 - Golden growth rate
12:57 - Banks & money supply
18:01 - Historical recessions
20:43 - Unemployment rise
22:54 - Market exuberance
26:36 - Pricing & wage growth
30:22 - National debt
33:13 - Inflation tax
35:04 - Debt crisis solutions
37:42 - Budget process issues
38:35 - Fiscal responsibility
39:50 - De-dollarization myths
41:57 - Gold hoarding
43:56 - Conclusion
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