Nick Glinsman, macro hedge fund manager and author at Intelligence Quarterly, joins Joseph Wang (“Fed Guy) and Jack Farley to explore whether the Federal Reserve is at all disturbed by the vicious sell-off in risk assets, or if the carnage in equities and credit is actually in service of its mandate to control stable prices.

Glinsman argues that the global economy is on the verge of a wage-price spiral for the first time in four decades, and the central bankers will be in no hurry to reverse course on their hawkish policy. Taking from his extensive experience working at some of the world’s most successful hedge funds, Glinsman warns viewers not to “slip on a banana skin” as they navigate the macro landscape. Joseph Wang’s message to the viewers banking on a “Powell Put” is even more stark: “wake the ____ up.”

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Nick Glinsman on Twitter https://twitter.com/nglinsman

Joseph Wang on Twitter https://twitter.com/FedGuy12

Jack Farley on Twitter https://twitter.com/JackFarley96

Blockworks on Twitter https://twitter.com/Blockworks_

Nick Glinsman's writings can be found at https://intelligencequarterly.com/.

Joseph Wang's writings can be found at https://fedguy.com/.

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Today’s episode is sponsored by Jack Farley, the host of Forward Guidance. If you would like to get in touch with Jack to potentially become a sponsor of Forward Guidance, you can email him at jack@blockworks.co. Serious inquiries only, please.

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(00:00) Introduction

(02:40) Banana Skins In This Market

(13:14) The Fall Of The "Transitory" Narrative

(23:30) The Wealth Effect in Reverse

(30:50) Ad

(36:07) Have Central Banks Lost Control?

(41:18) The Dollar and Bonds

(50:28) Bretton Woods III

(59:55) Inflationary Hikes

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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

EP264: What do you mean by “welcome the unknown?” A question from a listener

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