Thoughtful Money with Adam Taggart The Reckoning Is Now Here & A Recession Comes Next | Jan van Eck
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Apr 10, 2025 Jan van Eck, CEO of VanEck, shares his expert insights on the turbulent financial markets and the looming recession. He emphasizes the importance of adapting investment strategies in response to recent policy changes and tariffs. The discussion dives into inflation risks and how they compare to past crises. Jan also highlights the evolving dynamics of gold and Bitcoin as reliable assets amid economic uncertainty. Finally, he reflects on India's economic resilience and emerging investment opportunities in a shifting global landscape.
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Fiscal Reckoning
- Jan van Eck believes the US government will cut spending and/or raise taxes by 3% of GDP.
- This "fiscal reckoning" will cause austerity and downward pressure on equity markets.
Shifting Economic Paradigms
- Profligate government spending created a "fake economy" with artificial growth and high-interest rates.
- The US is now switching paradigms, leading to austerity and a potential recession.
Impact of Job Losses
- Job losses from the "fiscal reckoning" will include direct federal employees and contractors.
- Van Eck estimates a potential loss of 2 million jobs, impacting government spending and economic growth.