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Jim Rickards: A 2008-Style Liquidity Crisis + Recession Is The Big Threat Now
Jim is concerned we may be heading into a recession+liquidity crisis similar to what we experienced during the 2008 GFC.
A financial crisis spreads just like a virus does. The contagion equation is the same. Shifts in narrative/confidence can cause fear to spread quickly – sometimes creating the bad outcome it’s afraid of (e.g., a run on the bank). Or sometimes the opposite (e.g., asset bubbles).
The Fed pivot narrative brought a lot of capital back into the market, which resulted in the July rally. But the “logic” behind this narrative wasn’t necessarily correct. But it drove prices…
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