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We’re Already in Recession - Jim Rickards
Apr 6, 2025
Jim Rickards, an American lawyer, investment banker, and author of "Money GPT," shares insights on the current economic landscape. He discusses the signs indicating a potential recession and examines how tariffs can influence domestic production and inflation. The conversation touches on the geopolitical dynamics in Ukraine, the challenges of U.S. manufacturing, and the implications of energy policies on European independence. Rickards also highlights the critical relationship between debt ratios and economic sustainability, prompting listeners to rethink conventional economic narratives.
01:40:35
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Quick takeaways
- The U.S. economy is likely in a recession now, as indicated by stagnant hiring and negative GDP projections despite official announcements.
- Tariffs imposed during Trump's administration are argued to strengthen U.S. economic conditions by promoting domestic production, despite potential negative impacts on others.
Deep dives
Current Economic Conditions and Recession Indicators
Indicators suggest that the U.S. may already be experiencing a recession, despite the official announcement lagging behind reality. Relying on metrics like the GDP Now tracker from the Federal Reserve Bank of Atlanta, recent projections have dramatically shifted from positive growth to a significant negative GDP projection, illustrating economic decline. Moreover, hiring has effectively stagnated for about six months, indicating that businesses are hesitant to employ new personnel, which can precede mass layoffs. These conditions highlight the difficulty for the economy to rebound, as employment figures often lag behind actual economic performance.
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