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Prospector News Podcast – Chris Temple “The Fed and Evergrande China Threaten to Turn Economic Carts Upside Down”

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Prospector News Podcast – Chris Temple “The Fed and Evergrande China Threaten to Turn Economic Carts Upside Down”

 

 

 

 

 

Prospector News Publisher Michael Fox is joined by National Investor Chris Temple to talk about this week’s 2 biggest economic stories. We begin with a discussion of the Fed holding interest rates the same. We discuss how the fed doesn’t need to lower rates yet as the economy continues to percolate along. Growth remains strong as does the employment numbers. Inflation has leveled off although remains well above the target, We discuss whether the inflation dragon has been slain or if its going to rise up again.

 

With all that said the other elephant in the room is from China where Evergrande , the largest real estate developer has been declared bankrupt by a Hong Kong court. This credit event, dwarves the Lehmann Brothers bankruptcy that occurred in 2008. Using Lehmann Brothers as an example we discuss the potential fall out on Western Banks (huge exposure); The knock on effects on credit markets; The potential effect credit contraction might have on supply chains; and Finally the Geopolitical fall out on deglobalization and the movement towards Brics.

 

We bring the discussion back full circle to assess how the China predicament may play out in future Fed meetings.

 

Interesting times indeed. The Main story of 2024 is probably already afoot…

 

The National Investor

Posted February 2, 2024

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