John Rubino, publisher of his newsletter over at Substack, joins us outline the key macroeconomic data points on his radar as far as the health of the economy, the disconnect seen between market rallies and the potential of a coming recession, and the recent strength in the precious metals sector. This is a wide-ranging discussion that gets into whether the recent GDP 5% growth number from Q3 is really sustainable moving forward, concerns in the housing and real estate markets, a falling savings rates for US families, record high credit card debt, and falling retail sales numbers.
Now that most investors have come to the realization that the Fed rate hikes are done, we are seeing the expected sugar high in markets across the board, as the interest rates and US dollar have pulled back. These factors have been a boon for gold and precious metals stocks recently as well, but John feels gold may be sniffing out bigger economic turbulence to come in 2024. Even the precious metals stocks are starting to rally in a bigger way as the yellow metal approaches all time highs.
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