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Podcast: The Julia La Roche Show
Episode: #353 Chris Whalen: The Economic Damage Will Become Impossible to Ignore
Description: In this episode of The Wrap, Chris Whalen says stagflation is now the base case — the Iran war has already cost American investors trillions in reduced investment value, Treasury auctions are weak, and mortgage rates are heading toward 7% if the 10-year hits 5%. Despite all of this, he still calls for a Fed cut in April, arguing the inflation is caused by war not monetary policy, and the Fed's real mandate is employment. He says we're heading toward a medium to long-term reset in risk premia, equities are out and debt is in, and that a recession by 2028 — "misery on the...