Beware the Stagflation Monster!!

Beware the Stagflation Monster!! www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Beware the stagflation monster. Yeah, I haven't heard that word
a couple of years. Stagflation. What is stagflation? To get
back to the seventies, right, Stagflation is when the economy
is not growing, it's going backwards, no good, And we

(00:39):
also have inflation at the same time. Jamie Morgan from
JP Morgan has come out and talked about that being
the worst outcome for America's future. Worst outcome is stagflation,
and he said he wouldn't take it off the table.
Now people say, well, Jamie Diamond has been very very

(01:00):
cautious and saying things. Member we talked about the economic
hurricane was like a year or two ago. That's his job.
It's his job. You gotta be aware of risks that
are coming down the pike. Now, as far as the
stagflation monster is concerned, I would contend that we're in it.

(01:24):
The stagflation monster is here. It's here. We some people
can see it. Some people can see it, others cannot
because others just look at what the government is telling you.
It reminds me there was a great, great nineteen eighties movie.
It's called They Live, and they had the wrestler Roddy

(01:48):
Roddy Piper was in it, and basically had all these
these skeleton looking monsters that were basically running the show.
And the only way you could see actually see them
as if you had a pair of glasses. You put
these glasses on, you could see who the monsters were,
and then you could see all the subliminal messages that

(02:10):
the monsters were putting on TV and behind signs telling
you to obey and what to do. But anyway, neither
here nor there. The government tells us that everything is awesome. Wow,
economic growth is going like gangbusters. But would we have
any economic growth if it wasn't for the Federal Reserve

(02:31):
printing tons of money and the government spending like nuts.
Probably not. This last week, I went off on a
ramp talking about the budget deficit being ninety billion dollars
worse than it was supposed to be, that fifty five
percent of the money spent with the government last month
was borrowed. Does that that sound like a sound like

(02:56):
a healthy economy? Does that sound really healthy to?

Speaker 1 (03:00):
Oh? Well, flip it.

Speaker 2 (03:01):
Okay, look at your own household. If your own household
had to get by, how to get by you just
to function to run your house, you had to go
into debt by fifty well again, you got to borrow
fifty five percent of the money that you spent over
the course of your month just to pay your bills.
Would you say that your household was doing well at

(03:23):
that point in time? Probably not? Probably not. And that's
where we're at right now. Do we have inflation, Yes
we do. Do we have a fugesi economic growth, Yes
we do. So I'm saying the stagflation monsters already here.
Watch dog on Wall Street dot com.