Just turn on the Printer

Some would say I need to stop listening to the prophets of doom, but the truth is, they’re not spewing ignorable nonsense. The indicators are pointing in one direction, and as much as I’d love to stay positive, I’m finding it harder and harder as the days go by.

For all intents and purposes, we’re witnessing an economic contraction. Yes, some talking head might find specific things that look pretty good, but the GDP is moving in the wrong direction. A -2.4% might not sound like much to us, but let’s keep in mind this is only the beginning of the downfall.

JP Morgan recently put the odds of a recession at 60%, a number that even the most bullish voices are struggling to frame in a positive light. This morning, Anthony Pompliano reminded us that the Fed does have tools to avoid a recession and went as far as to suggest turning the money printer up to 11.

Let’s take a minute to appreciate the distance traveled. A libertarian Bitcoiner is now advocating for the money printer. Did anyone have that on their bingo card? I sure didn’t.

Anyway, here’s the deal.

Even if Trump were to reverse all his recent moves, the damage done to the economy won’t heal overnight. We’ve torched too many bridges, and the possibility of resetting relationships with other countries is slim to none. This might change when Trump leaves the Oval Office, but that’s another story.

https://x.com/APompliano/status/1908203113728680317

Who could’ve seen this coming? Libertarians supporting more taxes and inflation.

MenO