It’s been about 10 years since the last recession. Another one is on the way.
I will be on Coast to Coast AM syndicated radio tonight with George Noory to discuss what’s in store for 2019 and beyond. Topics include jobs, debt, inflation, the US Dollar, the stock market, gold, oil, and China.
A recession is pending and a global financial crisis is inevitable. Tune in to discuss.
Local Stations
Here is a list of Local Stations.
Please tune in if you have the opportunity.
Thanks
Mike “Mish” Shedlock
Unfortunately not, except to subscribers. I just asked. They immediately send legal notices if one is posted.
I tried listening first through their website but they sell subscriptions and one can only listen through their website if they have subscription.
Luckily at least live the radio can be listened through the Tunein link I posted.
Based on the way Coast to Coast is selling subscriptions I think they must be doing OK financially if they have dedicated listeners through the website in areas where there is no live radio station or who want to listen to repeats of interesting shows or get those shows they missed due to not being able to listen at certain times if they have a work schedule that prevents it.
Nice how the host promised a ride to Seattle for that one guy and then a listener immediately offered him a ride to get from a small town to Seattle where they have friends and where jobs are more plentiful.
One small point:
It is almost always best option to pay off credit card debt like Mish said however if one works for a company that provides matching to the funds one puts in IRA then obviously it is better to put funds in IRA up to the maximum amount that the company matches this since one earns much more by putting the funds in IRA if there is matching than one earns by paying off credit card debt.
If there is no matching then it is much better to pay off the creditcard debt than put money into the IRA.
However that only applies if there is enough self control to not to run the creditcard debt back up.
In a case where a person always runs up the creditcard balance back up it is better to put the money in IRA even in situations where there is no matching since then one saves even a little bit.
I did not know about that streaming option – I would have had someone record it
I will attempt to get a recording. In general, Coast-to-Coast does not offer them
I thought the discussion went exceptionally well.
Mish
Great show! Fortunately I’m on the west coast and was able to catch over half of it. Do you have any preference between the discussion with the host and questions from callers?
Mish – is there a rebroadcast we can listen too?
Here is a web radio:
Mish is really good.
There should be a recording of this and not just live listening.
Can’t there be a recession without a financial crisis?
I thought that consensus was that US banks are not over-leveraged. Isn’t over-leveraging a precondition for recession to morph into financial crisis?
US banks are overleveraged but EU banks are even more overleveraged and Chinese banks are even more overleveraged so in comparison US banks are not so bad.
Also dollar has risen under Trump against Euro so there is more of a cushion to pump out dollars from Fed in the event of financial crisis.
A recession can occur in a number of ways. I predict this time wont be like any other before. Each dollar spent now creates about $4 of debt outside the US. Additionally with debt burdens it takes more money to get out of debt when rates are rising. This is on top of the leveraged corporate bond market which is set to tip over. So no you don’t need a banking crisis for a.recession
Thanks!
You are welcome.
Good luck tonight Mish. I will be listening.