The ACID Capitalist Podcast Acid Breath GOLD 2nd October, 2025
Oct 3, 2025
The tranquil charm of St. Bart's is paralleled with the listless markets during hurricane season. A government shutdown has created a data blackout, complicating economic forecasts. The Challenger Jobs Report signals fewer job cuts than expected, which may indicate a labor market turning point. Mortgage rates are straining affordability as markets react cautiously to weak economic activity. Hugh shares insights about gold as a critical indicator and advises owning physical gold over volatile mining stocks for safer investments.
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Late Nights In St. Bart's
- Hugh Hendry describes being in St. Bart's and nearly face-planting while working late into the night.
- He recounts playing pickleball, getting soundly beaten, and likening it to watching markets where most people don't actually watch the ball.
Shutdown Forces Policymakers To Fly Blind
- A government shutdown removes key economic data, forcing policymakers to act with less information.
- Hendry suggests that flying blind might force rate-setters to use common sense rather than rigid models.
Challenger Flagged Rising Job Cuts
- The Challenger jobs report tracks actual company layoff announcements and often leads official payroll data.
- Year-to-date job cuts rose to about 950,000, flagging corporate restructuring and AI-related disruption as drivers.