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Mike McGlone: Strait of Hormuz Crisis Sparks Oil Chaos – Recession & Stock Crash Ahead?
Join Michael Fox as he interviews Mike McGlone, BloombergIntelligence's Chief Commodities Analyst, on the oil market crisis sparked by the Strait of Hormuz closure—potentially a black swan event? Mike admits underestimating U.S. military prowess in securing the strait, where 20% of global energy flows, yet oil prices only spiked 50% instead of doubling. Theybreak down market volatility, crude oil surpluses, gold & silvercorrections, recession risks from high oil at $55 breakeven post-$130 peak, stock market drawdowns to $40K, Bitcoin warnings, and investment strategies like holding treasuries…
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