We Study Billionaires - The Investor’s Podcast Network BTC045: Luke Gromen on China, Evergrande, Macro, & Bitcoin
Sep 29, 2021
Luke Gromen, a financial expert and author known for his macroeconomic insights, dives deep into the current state of the global economy. He discusses whether we've run out of steam economically and unpacks the real stories behind rising inflation. Gromen shares his thoughts on China’s Evergrande crisis and its global ripple effects. He also critiques U.S. financial leadership's short-term focus and explores the evolving role of Bitcoin in today's market. Gromen's unique perspectives on debt and investment strategies offer fascinating insights for keen listeners.
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Economic Ruptures and Fed Intervention
- The global economy experienced a series of ruptures since mid-2018, including issues with FX hedges and treasury yields.
- These events led to the Fed's interventions, ultimately resulting in significant inflation.
Inflation Drivers and China's Role
- The current inflation, reflected in the CPI, is caused by a combination of factors, including COVID-related supply chain disruptions.
- Luke Gromen suspects China might be intentionally slowing down shipping to the US.
China's Supply Chain Disruptions
- Luke Gromen recounts an experience where a Chinese port was shut down for two weeks due to a single COVID case.
- He discusses the possibility of China intentionally disrupting supply chains, similar to their past actions in the soybean market.