Latest / The Julia La Roche Show
#269 Luke Gromen: The Fiscal Situation Is Completely Cooked - Powell Faces Impossible Choice, Get Out of Government Bonds Into Hard Assets
Luke Gromen, founder of FFTT, joins the Julia La Roche Show for episode 269 for his latest macro update. Gromen argues the US government is in fiscal dominance, spending over 100% of tax receipts on entitlements and interest payments alone. He says Fed Chair Powell faces a binary choice between crushing the dollar through inflation or crushing the bond market through higher rates. Gromen notes that funding currency relationships between the yen and dollar have broken down, signaling both central banks are cornered. He advocates getting out of government bonds and into hard assets like gold…
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