The Meb Faber Show - Better Investing
Felix Zulauf – 2024 Macro Outlook Not Rosy | #515
Jan 3, 2024
Macro-expert Felix Zulauf discusses the global investment landscape, predicts inflation to rise above 10%, highlights Taiwan's upcoming election, and shares non-consensus views on potential wars and conflicts in the Middle East. They also explore the potential for silver to outperform gold in the future.
46:22
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Quick takeaways
- China's weakening economy and potential major crisis in the future pose risks to the global investment landscape.
- The upcoming Taiwanese election and the potential unification with China have implications for geopolitics and macroeconomics.
Deep dives
Global Investment Landscape: China, Europe, and the US
In this episode, Felix Zuloff shares his view on the global investment landscape. He highlights the weakening momentum of China's economy and its need to manage the overhang from the real estate boom and credit boom. Zuloff predicts that China will not be a locomotive for the world economy and expects a major crisis in a few years' time. He also discusses Europe's weakness, its dependence on exports to China and the US, and the challenges it faces. Regarding the US, Zuloff anticipates a mild recession in 2024, predicting a decline in corporate earnings and potential risks in the stock market due to the concentration of stocks. He warns of the dangers of the current market structure and the potential impact on the economy.
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