Wolf
Richter, founder of WolfStreet.com
returns to the show with cautionary comments
on the US financial sector.
Unlike
many Wall Street bears, Wolf Richter does
not expect the markets to implode, but instead,
following a decade of record growth, stocks
/ bonds could under perform expectations.
Although
our guest does not view himself as a 'Gold-Bug'
per se, he does note the positive portfolio-balancing
qualities of gold / silver / shares.
The discussion includes a recent article
he penned on the housing sector, which reviews
key US cities that have eclipsed their former
2006 housing bubble peaks.
While
real estate is a local market where many
regions / towns remain fairly valued, on
the contrary Wolf Richter finds key major
cities with SFH prices at potentially
frothy levels.
Our
guest reports encounters with the ominous
mantra, "Housing can only go up in
price," suggesting from a contrarian
perspective, the US SFH market may be ripe
for a price correction. Quicken Loans is
now the leading US mortgage lender, specializing
in infamous sub-prime mortgages via bond
issuance's.
Given
that the company is unbacked by traditional
agencies, without a "Fed put"
to protect against exposure, the situation
may represent a loose cornerstone in the
foundation.
Key takeaway - capital preservation should
be the top priority - bank CDs / Treasury-Bills
offer a small yield and may help shield
investors from unwanted volatility in the
financial markets while the PMs improve
investment portfolio beta balance.
Peter
Kendall, coeditor of The
Elliott Wave Financial Forecast makes
his show debut. Current Elliott Wave analysis
suggests that the US shares indexes are
registering ominous signals.
Whereas
hard assets such as the precious metals
have swung so far out of favor relative
to paper assets (stocks/bonds), a multi-year
uptrend may be commencing (Figure 1.1.).
A
new commodities bull market is overdue,
which could put paper assets such as US
equities under considerable pressure for
years while catapulting the PMs and energy
sectors skyward.
The
Elliott Wave Institute expects a deflationary
dilemma to impact the global economy due
to the nascent trade war, similar to the
1930's Great Depression.
The
host notes the dissimilarities between the
industrially based economy of 1930 and the
information age / debt driven economy of
2018.
Signs
of hyperinflation continue to erupt all
over the world, in Venezuela, cryptocurrencies,
global housing markets, etc.
The
host posits that Fed, PBoC, BOE and BoJ
policymakers will continue QE / ZIRP procedures
resulting first with a 1970's style disinflationary
environment.
The
net result could be a worst of worlds scenario
where jobs are sparse and prices erupt,
followed by a hyperinflationary "crackup
boom" as anticipated by Joseph
Schumpeter.
The
US government is now the leading mortgage
lender, with the FHA climbing from 2%-20%
of SFH mortgages.
According
to one media report this week, Fannie Mae
required a $4 billion bailout recently to
recover from a $6 billion loss, stemming
directly from subprime-like policies.
By
increasing the DTI to 50% and downpayments
to merely 3%, officials essentially underwrote
a new subprime housing bubble or Echo bubble,
further corroborating the hyperinflation
thesis.
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Guest
Bios
Peter
Kendall
Elliott
Wave Institute
Peter
Kendall U.S.
Peter
Kendall is co-editor of The Elliott
Wave Financial Forecast. Pete
authored The Mania Chronicles
with Robert Prechter in 2009 and
contributes to The Short Term
Update. Pete began his career
as a financial reporter and columnist
and joined EWI in 1992.
WolfStreet.com
founder,
Wolf
Richter
makes
his
show
debut
with
cautionary
comments
on
the
US
domestic
economy.
In
his
cynical,
tongue-in-cheek
manner,
he
muses
on
WOLF
STREET
about
economic,
business,
and
financial
issues,
Wall
Street
shenanigans,
complex
entanglements,
and
other
things,
debacles,
and
opportunities
that
catch
his
eye
in
the
US,
Europe,
Japan,
and
occasionally
China.
WOLF
STREET
is
the
successor
to
his
first
platform…
…whose
ghastly
name
he
finally
abandoned
in
July
2014.
Here’s
the
story
on
that.
Wolf
lives
in
San
Francisco.
He
has
over
twenty
years
of
C-level
operations
experience,
including
turnarounds
and
a
VC-funded
startup.
He
has
a
BA,
MA,
and
MBA
(UT
at
Austin).
In
his
prior
life,
he
worked
in
Texas
and
Oklahoma,
including
a
decade
as
General
Manager
and
COO
of
a
large
Ford
dealership
and
its
subsidiaries.
But
one
day,
he
quit
and
went
to
France
for
seven
weeks
to
open
himself
up
to
new
possibilities,
which
degenerated
into
a
life-altering
three-year
journey
across
100
countries
on
all
continents,
much
of
it
overland,
that
almost
swallowed
him
up.
John
Williams of Shadowstats.com,
a leading online alternative economic-resource
sees the potential for an explosive
move in the PMs sector / commodities.
CEO
Erik Voorhees, Shapshift.io & Chris
Waltzek Ph.D. - April 19th, 2018.
Erik
is CEO of the instant Bitcoin
and altcoin exchange, ShapeShift.io,
a groundbreaking coin / token service that
facilitates quick and virtually free exchange
of nearly any cryptocurrency.
Listeners' Q&A - Chris Waltzek Ph.D.
- April 12th, 2018.
The
latest Listener's Q&A segment includes
phone calls on the increasingly popular
topics of silver and Bitcoin from Tom in
Arizona, John in Sunny San Diego and an
anonymous caller.
Bill
Murphy & Chris Waltzek Ph.D. - April
11th, 2018.
Top
Wall Street Chartered Technical Analyst (CTA),
Ralph Acampora of Altaira
Wealth Management,revered
as "A Professor of Technical Analysis,"
returns.
Arch Crawford & Chris Waltzek Ph.D.
- March 7th, 2018.
CEO
Thomas
Coughlin the founder of Kinesis
as well as, Andrew
Maguire, return with part two of
this epic-exclusive Goldseek conference
call, simultaneously on three continents.
Lior
Gantz & Chris Waltzek Ph.D. - March
1st, 2018.
Andy
Schectman of Miles
Franklin Institute is partnering with
Sprott Asset Management on a physical gold
backed, distributed ledger with bullion
held at the Royal Canadian Mint.
Peter Grandich & Chris Waltzek
Ph.D. - February 14th, 2018.
Chris
Blasi, President of Neptune
Global LLC underscores gold's
4000 year track record as sound money,
noting further that the year 2000
gold bull market is still underway.
Nick
Barisheff & Chris Waltzek Ph.D.
- February 8th, 2018.
Part
I. with Bix Weir of RoadtoRoot-A
continues the ongoing investigation into
the intriguing crypto-phenomenon, which
may be the early adopter stage of a ubiquitous
revolution.
Chris Powell & Chris Waltzek Ph.D.
- April 25, 2018.
Chris
Powell of
GATA.org
returns from a speaking tour in Hong
Kong and Singapore including CNBC and
Bullion Star, with intriguing research
on the Bank of International Settlements
(BIS).
John Williams & Chris Waltzek
Ph.D. - April 19th, 2018. 
Bill
Murphy & Chris Waltzek Ph.D. - April
11th, 2018.
Eagle
Plains Resources Ltd. CEO, Tim J. Termuende
& Chris Waltzek
Ph.D. - April 4th, 2018 
Andy Schectman &
Chris Waltzek Ph.D. - February 22nd, 2018.**
