Latest / Financial Survival Network / The Economy Looks Strong… But Is It? - Jim Welsh #6361

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The Economy Looks Strong… But Is It? - Jim Welsh #6361 · Financial Survival Network

• 0:00
  Speaker 1: At the same time, the economy is not balanced. So
• 0:04
  Speaker 1: the top ten percent of earners represent almost fifty percent
• 0:09
  Speaker 1: of all consumer spending well. With the stock market doing well,
• 0:13
  Speaker 1: home prices are of fifty percent in the last five years.
• 0:17
  Speaker 1: Those people continue to spend. The bottom thirty to fifty
• 0:20
  Speaker 1: percent have been under the gun. They don't benefit really
• 0:24
  Speaker 1: from AI spending. They have been getting squeezed because the
• 0:28
  Speaker 1: rent went up by forty percent or so.
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• 0:57
  Speaker 3: And welcome you are listening to and watching the Financial
• 1:01
  Speaker 3: Survival Network. I'm your host, Carrie Let's. Hey, we're in
• 1:05
  Speaker 3: January twentieth and the market's getting slammed like never before.
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  Speaker 3: To quote somebody and the Jim wils is with us
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  Speaker 3: macrotides dot com. Jim, great to have you back. So
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  Speaker 3: what is going on with the market here and is
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  Speaker 3: it caused for alarm?
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  Speaker 1: I don't think so for a number of reasons. A,
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  Speaker 1: the US economies in decent shape. GDP's growing around two
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  Speaker 1: and a half percent. I think that's going to continue
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  Speaker 1: for a while to carry a because a number of factors.
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  Speaker 1: The government will run a deficit close to six percent
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  Speaker 1: this year, so a lot of that spending is a
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  Speaker 1: buttress for economic growth. AI spending is going to add
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  Speaker 1: or amount to about one point seven percent of GDP
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  Speaker 1: this year. The one what you that seven wow, five
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  Speaker 1: hundred and thirty billion dollars is what the five hyperscalers
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  Speaker 1: have pledged. Now that's up thirty four percent from last year.
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  Speaker 1: Last year the increase was sixty five percent. Next year
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  Speaker 1: slated to drop from thirty three percent in twenty twenty
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  Speaker 1: six to about fourteen percent in twenty twenty seven. So
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  Speaker 1: the risk to the stock market I don't think carry
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  Speaker 1: is that or the economy is that they're going to
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  Speaker 1: dial that back. They believe they are in an arms
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  Speaker 1: race those companies, and so that's I don't think they're
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  Speaker 1: going to cut back on spending, and it is a
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  Speaker 1: significant prop under the economy. At the same time, the
• 2:42
  Speaker 1: economy is not balanced. So the top ten percent of
• 2:47
  Speaker 1: earners represent almost fifty percent of all consumer spending. Well
• 2:53
  Speaker 1: with the stock market doing well, home prices are up
• 2:56
  Speaker 1: fifty percent in the last five years. Those people continue
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  Speaker 1: to spend. The bottom thirty to fifty percent have been
• 3:03
  Speaker 1: under the gun. They don't benefit really from AI spending.
• 3:07
  Speaker 1: They have been getting squeezed because the rent went up
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  Speaker 1: by forty percent or so. They don't own a house,
• 3:13
  Speaker 1: so they're just out of pocket. Insurance costs for their
• 3:17
  Speaker 1: car and property has gone up very significantly. Food prices
• 3:21
  Speaker 1: have gone up very significantly, so they're continuing to be squeezed.
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  Speaker 1: So that's why when I said in balance, those are
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  Speaker 1: some of the reasons. But in terms of GDP and
• 3:32
  Speaker 1: the overall economy, it's going to continue to be on
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  Speaker 1: pretty firm footing in the first half of this year,
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  Speaker 1: which means earnings are going to be decent. And it
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  Speaker 1: explains why despite today's weakness, and there may be a
• 3:46
  Speaker 1: little bit more to come. The advanced decline line which
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  Speaker 1: measures how many stacks go up every day versus down,
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  Speaker 1: and historically, Carrie, when the advanced decline line is making
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  Speaker 1: higher highs, which it has been doing, that's, you know,
• 4:01
  Speaker 1: shows innate strength under the surface, and it usually means
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  Speaker 1: corrections will be limited to the three to five percent
• 4:08
  Speaker 1: variety as opposed to ten percent or more historically big
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  Speaker 1: corrections like last year in February, and I think we
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  Speaker 1: probably talked about it. The advanced de klinlid was not
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  Speaker 1: making a new high in February of last year as
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  Speaker 1: the S and P was, and to me, that meant
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  Speaker 1: the market was vulnerable to a decent sized correction. When
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  Speaker 1: President Trump introduced his terrorists and was pretty aggressive about it,
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  Speaker 1: the S and P fell by twenty percent. So all
• 4:34
  Speaker 1: those things are you know, to me suggests that, all right,
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  Speaker 1: we've seen a knee jerk reaction to news about Greenland,
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  Speaker 1: but I don't think it has serious economic impact, and
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  Speaker 1: I think it's going to resolve itself, much like a
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  Speaker 1: lot of things in Trump's dealing with Europe have over
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  Speaker 1: the last seven eight years. Yeah. Well, you know, it's funny.
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  Speaker 3: There was a economists named Harry Brown, if you remember him,
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  Speaker 3: I know, yeah, like twenty thirty years ago, Yeah, yeah,
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  Speaker 3: And he used to say the United States is the
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  Speaker 3: accommodating loser and whether it comes to defending Europe or
• 5:17
  Speaker 3: you know, whether it's holding up markets, propping up markets.
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  Speaker 3: The US is the accommodating loser, and I think we're
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  Speaker 3: finished with that role.
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  Speaker 1: That's very clear. I mean in twenty eighteen, and this
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  Speaker 1: is the parallel I'm going to draw to today with Greenland,
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  Speaker 1: President Trump criticized the European countries in NATO for not
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  Speaker 1: honoring their commitment to spend two percent of GDP on defense.
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  Speaker 1: At that time, Poland was the only country doing it.
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  Speaker 1: Everyone else was around one percent. And of course they've
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  Speaker 1: you know, with there was articles in the New York Times,
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  Speaker 1: old Trump right, need to pull out a NATO and
• 6:02
  Speaker 1: all the rest of it. Well, lo and behold, last
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  Speaker 1: year the European countries committed not to just increase spending
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  Speaker 1: to two percent, increase it to five percent. Yeah, and
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  Speaker 1: you know, an outcome that very few would have been
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  Speaker 1: able to predict seven eight years ago. But President Trump
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  Speaker 1: pressured them and threatened them, like, hey, we've been providing
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  Speaker 1: this defense umbrella for you guys for decades and you
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  Speaker 1: haven't been paying for it. Times up, you got to
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  Speaker 1: start doing it. So I think this thing with Greenland
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  Speaker 1: Terry is going to be similar in the sense of, well,
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  Speaker 1: if we have to go in there militarily and take
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  Speaker 1: it over. It's bluster, you know, but and you know
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  Speaker 1: they've over the weekend a number of leaders in Europe
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  Speaker 1: gave speeches. You know how awful it was to say that,
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  Speaker 1: and blah blah blah, blah blah. But at the end
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  Speaker 1: of the day, I think they're going to recognize this
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  Speaker 1: strategic value that Greenland has for pertecting against another Russian incursion,
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  Speaker 1: like in Crimea in twenty fourteen. Russia went in there.
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  Speaker 1: They gave a bunch of speeches at the UN denouncing it.
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  Speaker 1: And guess what, Russia is still controlling Crimea. And the
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  Speaker 1: risk is they could do the same thing in Greenland,
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  Speaker 1: not tomorrow, but at some point in time. So I
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  Speaker 1: think President Trump is thinking strategically. I think Europe will
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  Speaker 1: come around to accepting that, and then, you know, kind
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  Speaker 1: of grudgingly, all right, let's work together to try to
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  Speaker 1: accomplish the goal, which is to fortify Greenland and put
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  Speaker 1: more military assets there for the strategic value it has.
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  Speaker 1: So this is being a play out. I think similarly,
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  Speaker 1: you just got to go through the Bobby and Weaving.
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  Speaker 3: I think, you know, we've based on what I've read,
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  Speaker 3: we've already got the right to pretty much do whatever
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  Speaker 3: we want there. I just think it's going to be
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  Speaker 3: something like a lease or some type of license or
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  Speaker 3: something that's indefinite in duration, because what's bringing it about
• 8:06
  Speaker 3: is climate change. When regardless how you believe that climate
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  Speaker 3: change is happening, it is happening, or right, let's say
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  Speaker 3: the cause of it. But you know, as a result,
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  Speaker 3: all those passages around Greenland are going to be free
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  Speaker 3: of ice. And that kind of opens up the chess board.
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  Speaker 3: So this is a recognition. Even though Trump the climate
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  Speaker 3: change and carbon credits and all that good stuff, he
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  Speaker 3: acknowledges the reality of it.
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  Speaker 1: Yeah, well again it creates an opportunity for not just
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  Speaker 1: the US, but for Russia and anybody else to seize Greenland.
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  Speaker 1: And for a lot of people, their knee jerk reaction
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  Speaker 1: is as Trump blah blah blah blah blah. The reality
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  Speaker 1: is he's thinking out over the next twenty years, not
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  Speaker 1: next twenty months. And you know there's a group of
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  Speaker 1: people that no matter what Trump does, they're immediately opposed
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  Speaker 1: to it, critical thinking why bother? You know, Trump said this,
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  Speaker 1: so I'm going to do the opposite, And you know,
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  Speaker 1: I don't think it. You know, they've been proven wrong.
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  Speaker 1: I mean, in twenty eighteen, Trump gave a speech at
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  Speaker 1: the UN and criticized Germany for their growing dependence on
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  Speaker 1: Russia for that gas in oil. Yeah, the delegation was
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  Speaker 1: seen laughing at him. Well, they stopped laughing after Russia
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  Speaker 1: invaded Ukraine and turned the spiccots off. So all of
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  Speaker 1: a sudden, Germany, he's scrambling for energy. So again, people
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  Speaker 1: like to make fun of the guy. You know, the
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  Speaker 1: way he comes across. I get it. You know, he's obnoxious,
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  Speaker 1: he's in your face, he's in a New Yorker eaggerates everything,
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  Speaker 1: you know, and so yeah, I mean that's his best friend,
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  Speaker 1: you know. So you got to be able to separate
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  Speaker 1: all that bolgoney and just peel that away instead of
• 10:06
  Speaker 1: reacting with emotion. Okay, what's this guy really saying? Does
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  Speaker 1: it make any sense whatsoever? And you know, in terms
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  Speaker 1: of Europe, I think they've learned their lesson over the
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  Speaker 1: you know, since he was present in the first term,
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  Speaker 1: that the guy was right about some strategic things, and
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  Speaker 1: they've come around to it. And I just think, as
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  Speaker 1: you were saying, whether it's a lease or whatever, it is,
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  Speaker 1: there'll be some negotiation, and I don't think we're going
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  Speaker 1: to be sending military to take over Greenland, you know.
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  Speaker 3: Well, you know it freaks them out, is he says
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  Speaker 3: he won't take any option off the table. But of course,
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  Speaker 3: but that really isn't an option per se right, No,
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  Speaker 3: Well again, in twenty eighteen, you know he there was stories.
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  Speaker 1: The New York Times ran with it frequently. You know,
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  Speaker 1: he's threatening to leave NATO. Well, you know, again, if
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  Speaker 1: you're trying to applied leverage and you're trying to make
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  Speaker 1: your point, we have been providing a defensive umbrella for
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  Speaker 1: you against Russia and any other bad actor for decades,
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  Speaker 1: and you haven't honored your commitment. So maybe we'll just
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  Speaker 1: pull the plut WHOA no, no, no, dona b no no, no,
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  Speaker 1: you don't have to do that. You know. That's the
• 11:20
  Speaker 1: way he negotiates. You know, it's obnoxious. You may not
• 11:24
  Speaker 1: like it. But if he I think, obviously, if he
• 11:27
  Speaker 1: has conviction about a position, he's gonna push you to
• 11:32
  Speaker 1: the wall, you know, And so people react negatively to
• 11:37
  Speaker 1: the way he does stuff. I get it, you know,
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  Speaker 1: but nonetheless, So anyway, today's knee jerk reaction to Greenland
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  Speaker 1: and all this blah blah. I think that will pass
• 11:51
  Speaker 1: and they're not too distant future.
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  Speaker 3: It did knock down the dollar though, like nothing else
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  Speaker 3: before it has done.
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  Speaker 1: You know, yeah, has down I think about one percent,
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  Speaker 1: which is not an insignificant move. But you know, we
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  Speaker 1: have to remember that since April the dollar has been
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  Speaker 1: trading between primarily ninety seven and a little bit over
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  Speaker 1: one hundred, So we've got what eight months sideways chop.
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  Speaker 1: We're still in the middle part of that range. And
• 12:21
  Speaker 1: as I noted in recent writings of my Weavy Technical
• 12:25
  Speaker 1: Review and the monthly macrotides that dollar shorts have been increasing. Historically,
• 12:33
  Speaker 1: big rallies and the dollar have followed when short positions
• 12:38
  Speaker 1: have built up. So that implies to me, Carrie, that
• 12:41
  Speaker 1: the likelihood of the dollar dropping below the recent low,
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  Speaker 1: which I think was ninety six thirty seven possibly, I
• 12:49
  Speaker 1: think are low, and if those short positions continue to
• 12:53
  Speaker 1: get built up, I think it increases the risk the
• 12:56
  Speaker 1: dollar is going to break out above one hundred point
• 12:59
  Speaker 1: three nine, and you know that would project and move
• 13:02
  Speaker 1: to one oh four to one oh five. So that's
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  Speaker 1: my take is I think this sideways chop is like
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  Speaker 1: a base being built, and that the dollar will emerge
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  Speaker 1: to the upside. And the other thing I'll note, you know,
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  Speaker 1: as I said earlier about the economy being in good shape, Well,
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  Speaker 1: that the economy continues to run in pretty good shape,
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  Speaker 1: it kind of negates the need for the Federal Reserve
• 13:23
  Speaker 1: to cut raids anytime soon. Well, that kind of becomes
• 13:27
  Speaker 1: at least a small tailwind for the dollar. I mean,
• 13:30
  Speaker 1: they cut rates one hundred and seventy five basis points,
• 13:33
  Speaker 1: and the main reason that both the Doves and Hawks
• 13:35
  Speaker 1: could agree on Carrie was well, the dollar or the
• 13:39
  Speaker 1: Fed funds rate is comfortably above the neutral rate, so
• 13:45
  Speaker 1: policy is restrictive, and that was the main reason why
• 13:50
  Speaker 1: they kept lowering. Well after one hundred and seventy five
• 13:52
  Speaker 1: basis points, you know, policy surely isn't very restrictive. And
• 13:57
  Speaker 1: then you know growing concern about the labor market. Well,
• 14:00
  Speaker 1: recent data coming out on the labor market, so it's stabilizing.
• 14:05
  Speaker 1: So as long as the labor market is okay, then
• 14:09
  Speaker 1: those who don't want to cut rates are not going
• 14:13
  Speaker 1: to continue to agree to cut rates because policies restrictive,
• 14:16
  Speaker 1: It isn't restrictive or very little restrictions and is one.
• 14:21
  Speaker 1: So again, those are the reasons why the dollar could benefit.
• 14:26
  Speaker 1: And you know, I think a stronger dollar would have
• 14:28
  Speaker 1: some implications for the metals, especially after the gigantic run
• 14:34
  Speaker 1: they've made. You just need a headwind to show up.
• 14:38
  Speaker 1: And you know, before we started, we were talking about
• 14:42
  Speaker 1: President Trump criticizing chair Pal, you know, relentlessly and then
• 14:47
  Speaker 1: bringing this you know, recent potential investigation into his testimony
• 14:53
  Speaker 1: about the overrun. You know, to me, it is ironic.
• 14:56
  Speaker 1: Has there ever been a program or building that was
• 14:58
  Speaker 1: built in Washington, DC that didn't on the origion.
• 15:01
  Speaker 3: I mean, it's a small building for three boil out, but.
• 15:05
  Speaker 1: The original astbent was one point nine trillion or billion.
• 15:09
  Speaker 1: Now they're at two and a half billion.
• 15:11
  Speaker 3: But it's a small building. It shouldn't have been at
• 15:14
  Speaker 3: one end point nine.
• 15:15
  Speaker 1: But not that he's carry I'm not defending. I'm just
• 15:18
  Speaker 1: saying that the excuse to go after Trump in a
• 15:21
  Speaker 1: city where overruns are like commonplace all the time is
• 15:26
  Speaker 1: a little silly. But I think that's been a you know,
• 15:32
  Speaker 1: a lift for the medals and part of the idea
• 15:35
  Speaker 1: President Trump potentially could really remove fed independence a He's
• 15:41
  Speaker 1: got two people on the board already from twenty eighteen.
• 15:45
  Speaker 1: He put Mirn on the board after Klug. I think,
• 15:50
  Speaker 1: you know, we resigned in August, So whether he'll stay
• 15:53
  Speaker 1: after January because that term ends in January, it doesn't
• 15:57
  Speaker 1: matter whether he's there. Somebody else said Trump points will
• 15:59
  Speaker 1: be there. Powell term ends in May. His chair who'll
• 16:05
  Speaker 1: get to point another person? So that's four out of
• 16:07
  Speaker 1: the seven seats on the board. And then Lisa Cook,
• 16:11
  Speaker 1: who's being investigated for mortgage fraud. You know, if she
• 16:15
  Speaker 1: has to leave, he had five out of seven. So
• 16:18
  Speaker 1: I think that has been one of the things that
• 16:20
  Speaker 1: people are like, Oh my god, the Fed is going
• 16:22
  Speaker 1: to lose his independence. He's going to push for rates
• 16:24
  Speaker 1: to be three hundred bass points lower. Man, that's going
• 16:27
  Speaker 1: to be good for the medals. I think that's one
• 16:29
  Speaker 1: of the sub stories.
• 16:31
  Speaker 3: Okay, I'll buy it. I'll buy it. Uh So, I
• 16:37
  Speaker 3: guess the question is where do you if you're scared,
• 16:42
  Speaker 3: where do you put your money?
• 16:44
  Speaker 1: Well, you know, A, I wouldn't chase the metals here.
• 16:48
  Speaker 1: I mean, they could obviously keep going like they have
• 16:50
  Speaker 1: because I would have said that. We talked a few
• 16:52
  Speaker 1: weeks ago. Lind Silver was, you know, seventy five, I
• 16:55
  Speaker 1: would have said the same thing, all right, But the
• 16:59
  Speaker 1: price pattern on gold and even silver suggests we're going
• 17:05
  Speaker 1: back to December twenty fifteen. On gold, they made a
• 17:08
  Speaker 1: low at about one thousand and forty six, and the
• 17:11
  Speaker 1: pattern looks like at Randall a little over two thousand,
• 17:13
  Speaker 1: had a pullback to one thousand, six hundred and sixteen
• 17:17
  Speaker 1: in September of twenty two. And this has been one
• 17:21
  Speaker 1: massive third wave that appears to be nearing the end.
• 17:26
  Speaker 1: And what that suggests carry is there will be a
• 17:29
  Speaker 1: wave for pullback that will be you know, maybe twenty percent,
• 17:33
  Speaker 1: but after that pullback there'll be another push to higher highs.
• 17:38
  Speaker 1: I just think we're on the cusp getting closer to
• 17:41
  Speaker 1: the point in time where gold and silver will subsequently
• 17:47
  Speaker 1: experience a twenty percent pullback. On gold, it could be
• 17:51
  Speaker 1: the low four thousand, between four thousand to forty two hundred,
• 17:55
  Speaker 1: It could be a little bit deeper. Silver could pull
• 17:58
  Speaker 1: back to the mid seventies, tventy five, seventy two, something
• 18:01
  Speaker 1: like that. So I can't I'm not comfortable saying, hey,
• 18:05
  Speaker 1: you know, by the medals, treasury bonds, the tenure just
• 18:11
  Speaker 1: broke out. It spent months going sideways under four to twenty.
• 18:15
  Speaker 1: On Friday it took it out. It's moving up even more,
• 18:19
  Speaker 1: so I wouldn't be a buyer of long dated bonds.
• 18:23
  Speaker 1: Spreads between corporate bonds and treasuries is the most narrow
• 18:29
  Speaker 1: since two thousand and seven. So the idea here again
• 18:32
  Speaker 1: is the economy looking pretty good. I don't have to
• 18:34
  Speaker 1: worry about credit risk and so forth, so their look
• 18:39
  Speaker 1: a little overpriced. So my answer would be the Russell
• 18:44
  Speaker 1: two thousand has its relative strength to the s and
• 18:48
  Speaker 1: P was weak from the summer of twenty twenty one
• 18:53
  Speaker 1: until about two three months ago, especially after chat GPT
• 18:59
  Speaker 1: was introduced in November of twenty two. You know, as
• 19:05
  Speaker 1: money flowed into the AI stocks, it lifted the SMP
• 19:11
  Speaker 1: significantly rather to the Russell. So you put it all together,
• 19:15
  Speaker 1: the economy looks like it's on firmer footing. There's been
• 19:19
  Speaker 1: questions raised about AI spending and the ability to build
• 19:23
  Speaker 1: data centers, you know, willy nilly. You know, communities are
• 19:26
  Speaker 1: pushing the cost of energy is being driven higher by AI,
• 19:31
  Speaker 1: so there's some real blowback that has started to develop,
• 19:35
  Speaker 1: and so money is leaving that sector, which has done
• 19:37
  Speaker 1: exceedingly well, and it's rotating into the rest of the market.
• 19:41
  Speaker 1: As I noted earlier, the eight lines making new highs,
• 19:44
  Speaker 1: the Russell's making new highs. Today the Russell was holding
• 19:48
  Speaker 1: up much better than the yeah and so to me,
• 19:56
  Speaker 1: that's showing that that rotation is happening continuing. And so
• 20:02
  Speaker 1: to me, the Russell two thousand looks like you could
• 20:04
  Speaker 1: make it to twenty seven seventy. That would be like
• 20:07
  Speaker 1: an initial like I think if we get there, and
• 20:10
  Speaker 1: then how it gets there will indicate can it go
• 20:13
  Speaker 1: even higher? Yet? So to me, that's the one area
• 20:16
  Speaker 1: to buy on weakness, because I think it's going to
• 20:19
  Speaker 1: continue to be resilient as we're seeing today, and I
• 20:22
  Speaker 1: think it will continue to lead the charge. I think
• 20:26
  Speaker 1: at some point in time this year the ai AI
• 20:29
  Speaker 1: stocks are going to get hit harder Carrie, because people
• 20:35
  Speaker 1: are going to realize, as I said earlier, spending last
• 20:38
  Speaker 1: year was up sixty five percent, thirty three percent next
• 20:41
  Speaker 1: year is fourteen. You know, all of a sudden, you
• 20:44
  Speaker 1: see that kind of acceleration, people are going to like,
• 20:47
  Speaker 1: you know what, And I think it's already happening. It's
• 20:50
  Speaker 1: part of weakness. Maybe I need to lighten up, and
• 20:56
  Speaker 1: so I think there can be a disconnect economicity. They're
• 20:59
  Speaker 1: going to keep spending the money sentiment wise in the
• 21:01
  Speaker 1: stock market. These stocks aren't cheap. There's reasons to think that,
• 21:05
  Speaker 1: you know what, this freight train slowing down just to
• 21:09
  Speaker 1: take some money off the chips. So I think you
• 21:11
  Speaker 1: can have a decent sized correction in the stock market
• 21:14
  Speaker 1: after the rustle goes up some more it's extended, then
• 21:17
  Speaker 1: it's going to have a normal size pullback and the
• 21:20
  Speaker 1: AI stocks, I think potentially could get hit harder. So
• 21:24
  Speaker 1: I think there's going to be, you know, some decent
• 21:26
  Speaker 1: level of volatility this year. And then the last thing,
• 21:29
  Speaker 1: the midterm election is to bedia closer to summer. The
• 21:32
  Speaker 1: odds of the Republicans hanging on to the House, the
• 21:37
  Speaker 1: odds aren't great, you know, And I think the market
• 21:42
  Speaker 1: has responded favorably to a lot of what President Trump
• 21:45
  Speaker 1: has been doing and the idea that the Republicans could
• 21:49
  Speaker 1: potentially lose the House. If it looks like that's going
• 21:53
  Speaker 1: to be the reality, and we really won't know that
• 21:55
  Speaker 1: until you get closer to labor day, I think that
• 21:58
  Speaker 1: that's kind of a negative, you know, for him advancing
• 22:02
  Speaker 1: his agenda introducing new stuff, because what that means is
• 22:07
  Speaker 1: the next two years we're just you know, stuck in
• 22:10
  Speaker 1: the water. You know, the Democrats aren't going to vote
• 22:12
  Speaker 1: for anything that'll make the economy better. Sadly, that's where
• 22:16
  Speaker 1: we're at, you.
• 22:17
  Speaker 3: Know, ridiculous. But all right, Jim, how do we subscribe
• 22:23
  Speaker 3: to macro tides.
• 22:25
  Speaker 1: You go to macrotides dot com if you want a
• 22:28
  Speaker 1: recent publication, my January macro Tides, which you know covered
• 22:32
  Speaker 1: some of this tough Carrey and I just talked about
• 22:34
  Speaker 1: the weekly technical Review. Send me an email, Jim Welsh
• 22:39
  Speaker 1: macro at gmail. Tell me you heard me on carry show,
• 22:45
  Speaker 1: and I'll be happy to send you some recent reports
• 22:49
  Speaker 1: so you can kind of get a better idea of
• 22:50
  Speaker 1: how I blend fundamental analysis the technical analysis. You'll see
• 22:54
  Speaker 1: a lot of charts along with a lot of you
• 22:57
  Speaker 1: know analysis a monetary policy and the economy and so on.
• 23:01
  Speaker 3: All right, Hey, link is in the show notes to
• 23:03
  Speaker 3: this interview on Financial Survival Network dot com, which is
• 23:07
  Speaker 3: now officially substack column. And the couple things. We've got
• 23:14
  Speaker 3: a report coming out on Greenland. The true story behind it,
• 23:19
  Speaker 3: not what the headlines are telling you which are completely
• 23:22
  Speaker 3: deceptive and really irrelevant. And a silver report coming up
• 23:27
  Speaker 3: next week. Jim, always appreciate you coming on the show.
• 23:30
  Speaker 3: We'll talk to you again soon. Any questions comments, Kltcarrie
• 23:34
  Speaker 3: LUTs dot com Jim, be well.
• 23:37
  Speaker 1: You do the same, carry and happy New Year by
• 23:38
  Speaker 1: the way.
• 23:39
  Speaker 2: Likewise, of course, thanks for listening to Carrie Letz's Financial
• 23:43
  Speaker 2: Survival Network, your solution to today's trying times. For the latest,
• 23:48
  Speaker 2: go to Financial Survivalnetwork dot com. Financial Survival Network now
• 23:54
  Speaker 2: more than ever,