The Julia La Roche Show #312 Dr. Mark Thornton: America's On-Ramp to Hyperinflation and Why It's Still Early in the Bull Market for Gold & Silver
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Dec 2, 2025 Dr. Mark Thornton, an Austrian economist and senior fellow at the Mises Institute, shares his insights on the looming economic crisis, which he describes as an 'everything bubble.' He discusses how Federal Reserve manipulation has led to widespread malinvestments and highlights key vulnerabilities in commercial real estate and private equity. Thornton warns that by 2026, the U.S. may face hyperinflation, making gold and silver essential hedges against fiat depreciation. He also critiques current political leaders' lack of resolve to address these pressing monetary issues.
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Central-Bank Fueled Malinvestment Crisis
- Central banks' low rates and money printing have created widespread malinvestments across sectors like real estate and tech.
- Mark Thornton argues these distortions set the table for a major crisis when a black swan triggers contagion.
Many Potential Black Swans Lurk
- Multiple fragile sectors could be the first 'black swan' to ignite contagion, including commercial real estate and private equity.
- Thornton warns the first failure is hard to predict because many areas are vulnerable simultaneously.
Early Call On The Housing Bubble
- Mark Thornton recounts calling the housing bubble years before it burst and writing about it as early as 2004.
- He used market observation and psychology rather than formal role as a housing analyst to identify the bubble.
