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Prospector News Podcast – Chris Temple “Climbing Out of Jackson Hole and Throwing BRICS”

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Prospector News Podcast – Chris Temple “Climbing Out of Jackson Hole and Throwing BRICS”

 

 

 

 

Prospector News Publisher, Michael Fox is Joined by the National Investor Chris Temple to discuss events on opposite sides of the planet. In Jackson Hole Wyoming the St. Louis Fed hosted their annual Summer BBQ and confab to discuss the economy. Chis and Mike discuss what they had expected to come from the meeting as opposed to what happened. Chairman Powell’s speech was particularly hawkish in its tone leading us to expect more rate hikes going into the balance of the year. He stated that it’s the Fed’s purpose to get inflation back down below 2%. He is concerned with robustness of the labor markets and the stickiness of inflation. He doesn’t believe the job is done! And yet the markets seem to take him with a grain of salt.

 

On the other side of the world in Johannesburg, the nations that make up the BRICS block were having their own economic BBQ. These nations are forming a new trading block outside of the US Dollar for the betterment of the citizens of those countries. The key take away from the meetings is that Western Colonization is over. The resources in these countries are for the benefits of the citizens of those countries.

 

We discuss 2 essential topics going forward:

1. Are the BRICS nations trading one colonizer (Western Nations) for another (China)

2. The need for refocused and renewed diplomacy from Western Nations to make sure that the Commodities pie is shared more fairly.

 

The conclusion we reached was that the new BRICS regime is here to stay and it was going to result in rising commodity prices which would put more inflationary pressures on the West. This was working against the efforts of the Fed to battle inflation.

 

Interesting Times Indeed!

 

www.TheNationalINvestor.com 

Posted August 28, 2023

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