The Julia La Roche Show
#258 Chris Whalen: No Recession, Tariffs Just 'a Distraction,' Why Stocks Rise & Gold Is 'a Great Trad
May 15, 2025
Chris Whalen, chairman of Whalen Global Advisors and author of 'Inflated: Money, Debt and the American Dream,' shares his contrarian views on the economy. He dismisses recession fears while spotlighting a silent downturn in commercial real estate. Whalen critiques the Treasury-Fed relationship as crucial to America's economy and warns of a potential commercial real estate collapse. He also examines the impact of inflation on housing affordability, emphasizing the challenges faced by average citizens versus asset holders.
39:14
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Quick takeaways
- Chris Whalen asserts that the current markets reflect optimism due to effective tariff negotiations, despite underlying economic challenges, particularly in commercial real estate.
- Whalen highlights owning gold as a crucial investment strategy for wealth preservation amid economic uncertainty and persistent inflation, advocating for its long-term viability.
Deep dives
Market Outlook and Tariffs
The discussion emphasizes that tariffs have been a distraction from underlying economic issues, with the current optimism in the markets attributed to effective tariff negotiations. Chris Whalen points out that President Trump's intentions to reach deals with nations, including China, are beginning to materialize, and this shift has contributed to a favorable market rebound. He also highlights potential roadblocks in fiscal policies, particularly regarding tax cuts, which he believes are unlikely due to political disagreements within Congress. This complexity underscores the importance of watching how fiscal decisions affect market dynamics moving forward.
