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Are we headed into a GLOBAL depression?
Apr 22, 2020 @ 6:00 pm - 7:00 pm PDT
*** Guest Host: Dave Sussman from The Dave Sussman Show & WhiskeyPolitics. ***
We have people trying to figure out how many people they can feed with one package of Ramen noodles and Nancy Pelosi is giggling over her 2 fully stocked fridges packed with gourmet ice cream.
Are we headed for a GLOBAL depression or is it more hype? Is the oil collapse going to trigger it? Brent Berarducci, Principal and Manager of Blacklion Capital Management, makes an economic prediction saying we should pray for a recession to avoid a depression. How are we going to recover? Oil prices dropped because demand dropped so low that they didn’t have enough room to store the excess supply.
Brent does not believe it will be a V-shaped recovery and will look more like a flat-U.
Look for a supply-chain realignment in our new normal, with fewer items coming from China. Manufacturing for higher dollar items may not come back to the U.S., but will probably leave China for other countries like Mexico.