Real Vision: Finance & Investing

#969 - U.S. Economy: Half Full or Half Empty? With Michael Kao

Feb 7, 2024

Michael Kao, CEO of Akanthos Capital Management, discusses the complexities of economic data for investors and the global market dynamics. Topics include the potential impact of interest rate cuts on controlling inflation, factors affecting the US economy, and the credibility of the Federal Reserve's easing cycle.

36:47

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Episode guests

Michael Kao

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Quick takeaways

The US economy is experiencing a division between the haves, who are asset owners with little to no leverage, and the have-nots, including lower to middle-class consumers with high leverage and floating rate debt, driving the uneven distribution of wealth and economic opportunities.

The US may shift towards higher inflation and higher unemployment due to potential reversal of the demographic dividend and the impact of technology-enabled productivity growth.

Deep dives

The Bifurcation of the US Economy

The US economy is experiencing a division between the haves, who are asset owners with little to no leverage, and the have-nots, including lower to middle-class consumers with high leverage and floating rate debt. This internal bifurcation is driving the uneven distribution of wealth and economic opportunities.

Limited Credit Deterioration and Benign Default Rates in Leveraged Loans

01:23

Fed's Easing and Inflationary Concerns

01:20

The Impact of Strong US Economy on Global Commodity Prices

01:40

Introduction

6min

Implications of Potential Interest Rate Cuts and Doubts about Controlling Inflation

5min

Discussion on the Possibility of No Rate Cuts in the U.S. Economy

3min

The Impact of the Federal Reserve's Interest Rate Cut

19min

Wrapping up the Conversation and Announcing Future Episodes

2min

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Michael Kao, CEO of Akanthos Capital Management, joins Maggie Lake to discuss what’s driving this relentless market rally, the complexities that new economic data presents for investors, and the global market dynamics that Michael is watching outside the U.S.

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Real Vision: Finance & Investing

#969 - U.S. Economy: Half Full or Half Empty? With Michael Kao

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The Bifurcation of the US Economy

The Transition from Low Inflation, Low Unemployment

The Challenges of Fed Policy and Inflation Control

Limited Credit Deterioration and Benign Default Rates in Leveraged Loans

Fed's Easing and Inflationary Concerns

The Impact of Strong US Economy on Global Commodity Prices

Remember Everything You Learn from Podcasts