Your podcasts are the best financial interviews available. A key aspect is how you ask informed, intelligent questions of your guests. Then, respectfully, let them answer without interruption. After that, if you disagree with their point, you politely state your counter position. That combination makes your shows an informative pleasure to listen to. I much look forward to each week’s episode.
Subtle but vitally important correction to something you said, Erik - that a component of the inflation was caused by the pandemic. In actual fact, it was caused by the Gov. REACTION to the pandemic.
This. The lockdowns + money printing caused most of it. Meanwhile the lockdowns seemed to have 0 impact on the course of the pandemic. But it sure felt great to do something because people were dying...Even if you believe the lockdowns were actually helping to bring down covid, the negative consequences are just too much. I cant forget how the whole world collectively went mad and named the few who called out this disastrous policy, the conspiracy theorists. What a time that was...
A question I have, highly trained boomers are leaving the workforce. Highly trained gen x are already in the workforce. Millenials, through no fault of their own, are not highly trained, gen x wages will skyrocket. How does this affect inflation?
Erik has been banging the drum on Oil bull for a while now, wish I had paid more attention to him and Trader Ferg and Finding Value Finance others sooner and gotten on that trend sooner, but gad I have a foot in that hedge anyway
What nobody seems to be considering is that many nato countries have given their older existing weapons to Ukraine and are ordering hundreds of billions of dollars in new weapons. The USA is the largest arms dealer to nato. Could this help to bail out the US economy in particular?
@@thehylander266 It’s possible the fed bailout the world if it’s too prevent the collapse of the 🇺🇸 ? Debasement of 🇺🇸 dollar to pay down debts . Be done twice already 1931 and 1971 . 40 years ? 2008 was 37 years , pretty close cycle ? But QE happened for postponing the cycle and keep the primacy the 🇺🇸 dollar « strong » ( only vs other currencies but still ). Im bullish gold ……!
Luke can be off on his timing. 5 months ago he didnt think the Fed would do even two rate hikes. Now he is saying powell will pivot by years end. We shall see...
Is it possible luke underestimate the power of taxation the US has ? Yes the US with record tax receipts cannot afford its spending with higher interest rates but the taxation of corporations and rich are at lowest level since WW2 right ? I think the US could raise taxes up to afford higher interest rates if push comes to shove ?
Historically raising tax rates does not increase tax revenues. The gross amount brought in tends to be flat. Maybe if the taxes weren't progressive this may work but as formulated higher taxes simply discourage growth as the more you earn the less you get to keep.
@@MrReconjon the little push back I would say is yes , maybe historically it’s true . But tax level are at a level that didn’t really ever happen before a century ago . So it’s hard to make comparison . The economy isn’t linear . Diminishing return law is very real in economics . Little debt it’s fine , lot of debt it’s bad Little inflation is ok , too much is bad . Maybe we are at a tax level where it hurts more than it help ?
@@sivi9741 I guess anything is possible, however although taxes as an implied percentage are as low as they have ever been tax receipts as a realized percentage are actually marginally higher than the average. Especially when factoring in total tax load, not just federal. My bet is that raising taxes will do what it traditionally has and create a lower output. At this point in the game though it may be worth trying nearly anything. Although it would impact me directly I'd honestly say the best bang for the buck to get more tax revenues without destroying production may be to raise taxes on middle and upper middle class employees instead of the employer class or the poor. Hail Mary.
what about resource rich commodities just decide to let their resource in the ground after they meets their people needs. Country will back down on accumulate trade surplus, stick on what they really need which will screw th e West which have no real asset, no industrial capacity and no technology left. That what the future look like
Two Americans bashing Europe without understanding of what's really going on in Europe while praising Russia 😁🙉🙉 When was Luke right on his predictions last time?? 😁🤪
What’s your play them? Just check BCE balance sheet and real interest rates to understand the storm that will come to the Euro.. sorry lad we are all doomed!
@@kirstinstrand6292 How is fracking junk? Just so you know even the Saudis frack. Everyone does it. It's not a reflection on the quality of the oil or gas. It is just a process to maximize the flow of oil and gas.
such a gibberish discussion ...... seriously we all shall fall down on our knees for the gas and ... to keep fund managers happy... so we won't freez ..... go Luke put yourself together man ... from 34:25 .." I don't know, I dont, I, I don't don't know... so go learn, read and they you will know what France is playing at, silly man
@@mikehawk4856 You mean "hard times" like for the people in Ukraine or Georgia earlier..... or that we wont go on holiday or will need to save on petrol or save energy to maximum and cut all what possible ..... yeee happy to do that. So many smart people in developed countries and we all need to adjust to Russia demands??? and later to whose, which country next? That's why our "elite" must think hard to find solution... one which ensures that we are very fine and Russia withdraw their nonsensical demands ... no bowing... "harder times" should be expected but we will last ... perhaps in less convenient life but we will
Well I rather have details and datas then a Peter shift generalization and not saying anything . Fwiw , his first book was enlightening for me . It’s cheap .
I'm a simple man, I see Luke gromen and click play immediately
you see matt damon and watch his movie right
@@Al-wt5kf I suppose I am somewhat of a narcissist
100%
Definitely only here for Luke
Your podcasts are the best financial interviews available. A key aspect is how you ask informed, intelligent questions of your guests. Then, respectfully, let them answer without interruption. After that, if you disagree with their point, you politely state your counter position. That combination makes your shows an informative pleasure to listen to. I much look forward to each week’s episode.
This is a great interview. Thanks so much for having Luke on!
Subtle but vitally important correction to something you said, Erik - that a component of the inflation was caused by the pandemic. In actual fact, it was caused by the Gov. REACTION to the pandemic.
This. The lockdowns + money printing caused most of it. Meanwhile the lockdowns seemed to have 0 impact on the course of the pandemic. But it sure felt great to do something because people were dying...Even if you believe the lockdowns were actually helping to bring down covid, the negative consequences are just too much.
I cant forget how the whole world collectively went mad and named the few who called out this disastrous policy, the conspiracy theorists. What a time that was...
Respect Energy.... saving the environment by blowing smoke😂
its Lukey's world., we just live in it. top man
Luke Gromen is one of the best out of there. Perfect timing to get him on.
Fabulous talk with Luke!
Once you realize that your own government is trying to inflict pain and suffering on you, things make a lot more sense.
Amazing week of podcasts continues. Looking forward to this one!
I'm a sophisticated man, I see Luke I click
Lots of good content! Good job guys
Nailed the curve inversion at 1:22:46. Well done!
Thanks for the great interview
12:00 - Erik's "Inflation Dipsydoodle Hypothesis".. 😂🙏🏼
Erik, please get Raoul on the show to talk secular inflation. It will be a very interesting discussion of opposing views.
Luke is a man who is very pragmatic and I believe a man of truth
I would like to hear Luke debate Brent Johnson on the points they disagree on...
Well done Luke in calling out the 'proxy war'.
Thanks buddy! Love Luke!
Good to not hear rude language from Patrick. Now transfer that skill! Thanks for the LG interview. Excellent.
Luke Gromen said that if the dollar went dramatically higher there would be net selling of Treasury Notes and Bonds. Can any explain why?
The US Govt should be limited to a budget of 6% of GDP. Incentivize more production to increase GDP and more for govt.
Then they will start lying about GDP..
@@sirt8684 start?
@@MrReconjon lols - true
Top notch lads
End game is here, stack metals
Luke Gromen said if the dollar went up significantly against other currencies, that oil would go up even higher. Can any explain why?
Russia pegged the Ruble to gold and gold is a reserve currency alternative. No incentive to suppress it at all...
I can't understand anything Luke Gromen says God knows I've tried. All I can make out is we're all doomed.
A question I have, highly trained boomers are leaving the workforce. Highly trained gen x are already in the workforce. Millenials, through no fault of their own, are not highly trained, gen x wages will skyrocket. How does this affect inflation?
This is the only podcast in my feed that doesn’t advertise mail order viagra. It must be a lucrative business. Wish they had a ticker symbol…
Great Podcast
Ever try to bring up oil investment at an investment conference or in a meeting with bankers or investment bankers?
Thank you!
Patrick: "Alright uh, let's uh, look at uh..."
nice job
Erik has been banging the drum on Oil bull for a while now, wish I had paid more attention to him and Trader Ferg and Finding Value Finance others sooner and gotten on that trend sooner, but gad I have a foot in that hedge anyway
French problem is not gaz, but big big diesel fleet, especially people.
Things are going so well nowadays are we going to have some bad news eventually for a change ?
😬
luke is awesome
Never thought I’d hear Eric say “shit”
What nobody seems to be considering is that many nato countries have given their older existing weapons to Ukraine and are ordering hundreds of billions of dollars in new weapons. The USA is the largest arms dealer to nato. Could this help to bail out the US economy in particular?
Who will build the new weapons?
@@konreww china 😉.
The US is going to be fine
Is Europe really going to afford it if they lose against Russia and their debt issues?
@@thehylander266
It’s possible the fed bailout the world if it’s too prevent the collapse of the 🇺🇸 ?
Debasement of 🇺🇸 dollar to pay down debts .
Be done twice already
1931 and 1971 .
40 years ?
2008 was 37 years , pretty close cycle ? But QE happened for postponing the cycle and keep the primacy the 🇺🇸 dollar « strong » ( only vs other currencies but still ).
Im bullish gold ……!
4 to 6 percent inflation. I mean. Are we taking target literally ?
The headline at oil price was that euro gas has pulled back
@MacroVoices The reason why Macron is still cautious is because total own 50% of Russia's largest Nat gas plant Yamal LNG.
Yeah but reshorijg is also economic growth and consumption.
Luke can be off on his timing. 5 months ago he didnt think the Fed would do even two rate hikes. Now he is saying powell will pivot by years end. We shall see...
What a great guest!
Federal Reserve Note (FRN) can be up vs Euro and down vs Oil & gold. No contradiction there
Darned if do darned if we dont. Its gonna be one heck of a storm. Even worse where just feel the winds coming in from it.
Christmas 🎅!
this Luke guy knows his $h** He need to be talking to government, or someone needs to be listening to him. Every point makes perfect sense.
Should get him and zehan together.
They are not "entitlement payments"!
CVX CEO says a new US refinery will never be built due to regulations. Kiss extra supply goodbye.
Does this lead to a hot war?
“A balance sheet contest between the US and Russia”? Really? Comparable? Really?
Even better that 90% of the SPR goes on a tanker to Europe and not for the stated purpose of helping Americans at the pump.
I think it’s because not enough refineries in the US to bring at the pump .
First yall
@@jrs1064 😉
Nice !
Who is 'they' in terms of Europe? germany? Germans are not Europe, they are just Germans.
Surinam. Guyana. What about that ?
“Macron”?
Omg. Eric, you sir know nothing about Europe.
Is it possible luke underestimate the power of taxation the US has ?
Yes the US with record tax receipts cannot afford its spending with higher interest rates but the taxation of corporations and rich are at lowest level since WW2 right ?
I think the US could raise taxes up to afford higher interest rates if push comes to shove ?
Yes he does.
I forgot , 🇺🇸 government forcing entities (pension funds and banks ) to buys treasuries too ?
Historically raising tax rates does not increase tax revenues. The gross amount brought in tends to be flat. Maybe if the taxes weren't progressive this may work but as formulated higher taxes simply discourage growth as the more you earn the less you get to keep.
@@MrReconjon
the little push back I would say is yes , maybe historically it’s true .
But tax level are at a level that didn’t really ever happen before a century ago .
So it’s hard to make comparison .
The economy isn’t linear .
Diminishing return law is very real in economics .
Little debt it’s fine , lot of debt it’s bad
Little inflation is ok , too much is bad .
Maybe we are at a tax level where it hurts more than it help ?
@@sivi9741 I guess anything is possible, however although taxes as an implied percentage are as low as they have ever been tax receipts as a realized percentage are actually marginally higher than the average. Especially when factoring in total tax load, not just federal. My bet is that raising taxes will do what it traditionally has and create a lower output. At this point in the game though it may be worth trying nearly anything. Although it would impact me directly I'd honestly say the best bang for the buck to get more tax revenues without destroying production may be to raise taxes on middle and upper middle class employees instead of the employer class or the poor. Hail Mary.
Cold War 2.0. The military industrial complex has a new playground.
what about resource rich commodities just decide to let their resource in the ground after they meets their people needs. Country will back down on accumulate trade surplus, stick on what they really need which will screw th e West which have no real asset, no industrial capacity and no technology left. That what the future look like
Oddly bad interview from Gromen. Not that I disagree with every answer, but some of the ideas were poorly delivered.
Two Americans bashing Europe without understanding of what's really going on in Europe while praising Russia 😁🙉🙉 When was Luke right on his predictions last time?? 😁🤪
What’s your play them? Just check BCE balance sheet and real interest rates to understand the storm that will come to the Euro.. sorry lad we are all doomed!
I don’t see them praising Russia ???
Russian just acting logically from its pov .
because u hate them , it doesn’t means u need to lie about them ?
@@felipemoraes2316 BCE balance sheet is irrelevant to Luke's argument. EU can print euros like the US dollars.
Drill baby drill..
Where? All the good stuff is long gone. Fracking is junk.
Yep. We the oil age is coming to an end. Hello new dark age.
🤣
@@kirstinstrand6292 How is fracking junk? Just so you know even the Saudis frack. Everyone does it. It's not a reflection on the quality of the oil or gas. It is just a process to maximize the flow of oil and gas.
@@MS-ii1sv you think fracking is the best first choice for cost/benefits , environmentally, easiest process , etc, for producing oil ?
Entirely possible means it can be avoided and that’s what’s going to happen. That’s what has always been happening.
such a gibberish discussion ...... seriously we all shall fall down on our knees for the gas and ... to keep fund managers happy... so we won't freez ..... go Luke put yourself together man ... from 34:25 .." I don't know, I dont, I, I don't don't know... so go learn, read and they you will know what France is playing at, silly man
You’re about to see what hard times are really like
@@mikehawk4856 You mean "hard times" like for the people in Ukraine or Georgia earlier..... or that we wont go on holiday or will need to save on petrol or save energy to maximum and cut all what possible ..... yeee happy to do that. So many smart people in developed countries and we all need to adjust to Russia demands??? and later to whose, which country next? That's why our "elite" must think hard to find solution... one which ensures that we are very fine and Russia withdraw their nonsensical demands ... no bowing... "harder times" should be expected but we will last ... perhaps in less convenient life but we will
Deport gromen to moscow , he will fit in perfectly.
I’m not hearing demographics or technology addressed in his analysis.
I can't undestand anything LG says.. Just explain as you would to a 4yr please, slowly. Don't make 7 points and 4 addendums of each question.
Well I rather have details and datas then a Peter shift generalization and not saying anything .
Fwiw , his first book was enlightening for me .
It’s cheap .