Grant Williams, hero of finance, joins Aaron and Porter to discuss the precious metals market, equities for the next decade, macroeconomics, government promises, central banks, and the biggest issue for our economy. The podcast also includes discussions on Bank of America, workforce demographics, Supreme Court rulings, and exciting upcoming projects.
The podcast discusses the difference between experts and publishers in the current precious metals market.
Porter provides his macro take on economies and incentives.
Grant explains the economic force that allows governments to make all their promises.
Deep dives
Record high subprime auto loan delinquencies
The percentage of subprime auto borrowers 60+ days past due on loans hit a record 6.1% in September, raising concerns about the impact on families and the wider economy.
Electric vehicle sales struggle for Toyota and Ford
Toyota and Ford are reportedly facing inventory challenges as sales of electric vehicles (EVs) fail to meet expectations. This comes despite rising gas prices and recent government support for EVs, indicating that consumer demand may not be as strong as anticipated.
True cost of fueling electric vehicles
According to recent analysis, the true cost of fueling an electric vehicle (EV) is equivalent to $17.33 per gallon of gasoline. This includes excess charging costs and subsidies, highlighting the potential financial drawbacks of owning an EV compared to traditional fuel-powered vehicles.
The Impacts of Excessive Access to Information and Distractions
In a world where there is abundant access to information, people are easily distracted by platforms like TikTok and Instagram, leading to a lack of understanding of the world around them. This can result in oversimplified perspectives on important issues and social unrest. It is crucial to recognize that the current state of strikes, protests, and division is not coincidental but rooted in unsustainable debts and unfulfillable promises, which eventually lead to measures like inflation, tax increases, and benefit cuts. With impending economic challenges and a messy political scene on the horizon, it is vital to grasp the underlying causes and be prepared for potential consequences.
Warning Signs in the Credit Cycle and Economic Outlook
An alarming change is occurring in the credit cycle, with unprecedented default rates on auto loans and potential defaults on credit card loans. Student loans, protected from default, pose a significant risk as well. Furthermore, about 40% of companies in the Russell 2000 struggle to generate enough revenue to cover their existing interest rates. If a recession ensues, along with rising unemployment, a historical credit cycle could unfold, causing widespread economic implications. The current unsustainable debt levels, coupled with rising interest rates, indicate that a correction is imminent, creating a need to pay attention to gold and other safe haven assets as central banks' actions reflect concern. Gold and Bitcoin continue to be attractive due to lack of trust in currencies, banks, and regulatory institutions.
The Porter & Co. Black Label Podcast – a provocative, no-holds-barred space where Porter and Aaron talk about markets, politics, and life with a series of very special guests.
Welcome to our new studio!
In this episode, Aaron and Porter are joined by Grant Williams of grant-williams.com, one of Porter’s heroes of finance.
Show highlights include:
An update directly from Porter about Porter & Co. and MarketWise…
Clearing up the confusion about Bank of America…
How Porter and Grant view the difference between experts and publishers concerning the current precious metals market…
What Porter sees in equities for the next decade…
Porter’s macro take on economies and incentives…
A Porter quote you don’t want to miss, “Socialism means…”
Grant explains the economic force that allows governments to make all their promises…
Central banks and the current gold trend…
What Porter believes is the biggest issue for our economy right now…
And much more…
Of course, we have fresh “You Can’t Make This Up” stories for you.
And a special letter from Tony, a Partner Pass member.
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