The David Lin Report This Signal 'Front-Running' Global Depression: Repeat of 1929? | Mike McGlone
Apr 29, 2025
In this engaging chat, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, dives deep into the signals of a looming global recession. He discusses how gold's performance against silver foreshadows economic contraction and the impact of tariffs on inflation. Mike highlights the conflicting trends of affluent consumer spending amid recession fears and unpacks the Phillips Curve's current disruptions. Finally, he explores the ramifications of a declining U.S. dollar on commodities, including gold, Bitcoin, and crude oil.
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Gold-Silver Ratio Forewarns Recession
- Gold's rise against silver and stocks signals an impending global recession.
- This precious metals trend has been advancing even before recent political changes.
Short-Term Inflation, Long-Term Deflation
- Inflation rises short-term largely due to services and tariffs.
- Deflation follows inflation historically, as seen with the U.S. stock market reverting valuations.
US Stocks Overvaluation Risks
- U.S. stock market is excessively valued relative to global markets and GDP.
- This overvaluation likely triggers a painful bear market and deflationary pressure.
