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The interview was published on February 7. I first saw it today.

Select Quotes

Inequality: People perceive that Fed policy has tricked down to the top 1 percent. The Fed has facilitated the inequality divide. I found it highly ironic to read the chairman [Jerome Powell] remarks last night because the Fed has been instrumental in widening this inequality by looking like they are trying to prop up wall street and the top 1 percent of Americans who own 80 percent of stocks.


European Recession: We've seen Germany and Italian factory orders come in very week. It looks like Europe is going into recession.

China Recession: If you could get clean statistics, it looks like China is also in recession.

US Rate Cuts: I think the forces outside the US are going to be sufficient that we could see the Fed indeed cut rates before the end of 2019.

Goldilocks: There is no doubt that Goldilocks has prevailed so far in 2019. And I think most people are looking for that to continue. But again, we've seen weakening even here in the United States. We've seen weakening in jobless claims, layoff number pick up; We've seen tremendous, record levels of CEO turnover. So under the surface of the water, I would say that things are not all they they appear to be right now, if you are just looking through the lens of the stock market.

Excellent comments from DDB.

Mike "Mish" Shedlock