3 years ago

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In this video, I discuss the May 31 White House meeting between Biden, Powell, and Yellen, and what it means for the financial markets this summer.

I believe that it is almost certain that the Fed will continue to tighten into the coming stock market crash and "economic hurricane" (Jamie Dimon's phrase). The decision has been made to go after inflation and temporarily turn a blind eye to stock market carnage.

I expect the Nasdaq to go down to at least 10,000 and Bitcoin to hit $20,000- $25,000 as Fed tightening continues.

The Fed will probably be forced to reverse course a month or two before the November mid-term elections. At that point, expect stocks and Bitcoin to rocket back up to new all-time highs.

Unfortunately many altcoins will die this summer and never come back.

Not investment advice! Consult a financial advisor.

Inflation is high:
https://www.cnbc.com/2022/05/11/cpi-april-2022.html

Debt levels are very high:
https://fred.stlouisfed.org/series/GFDEGDQ188S

Biden, Powell, Yellen meet at White House:
https://www.bloomberg.com/news/articles/2022-05-31/biden-seeks-to-defect-inflation-blame-with-rare-fed-meeting

Yellen wrong again:
https://www.bloomberg.com/news/articles/2022-05-31/yellen-says-i-was-wrong-last-year-on-the-path-of-us-inflation

My inflation prediction from August 2021:
https://www.youtube.com/watch?v=aJ6K0pgj11A&ab_channel=TraderUniversity

Dimon optimistic:
https://www.bloomberg.com/news/articles/2022-05-23/dimon-says-storm-clouds-over-the-u-s-economy-may-dissipate

Dimon turns pessimistic just a few days later:
https://www.bloomberg.com/news/articles/2022-06-01/jamie-dimon-says-bank-is-bracing-itself-for-economic-hurricane

Other bank CEOs turn bearish:
https://twitter.com/DeItaone/status/1532002512550649858
https://twitter.com/wealth/status/1532373788138119169

Do Kwon on altcoins:
https://www.reddit.com/r/CryptoCurrency/comments/uo431o/do_kwon_95_are_going_to_die_coins_but_theres_also/

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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

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#stockmarketcrash
#fed
#bitcoin

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