Hard Times Hiding in Plain Sight
Before we get to this week’s interview, I want to mention an important resource from our friend Dr. Lacy Hunt.
Dr. Hunt is Executive Vice President and Chief Economist of Hoisington Investment Management. He’s also a regular favorite at our Strategic Investment Conference. Dr. Hunt has curated a valuable reading list, his “Essential Documents in Economics & Investments,” along with his personal notes. You’ll find the link below.
I spoke with Dr. Hunt this week about the state of the US economy, which he says is in a “very precarious situation.” Inflation is coming down, but prices are not. New cars and homes cost about 20% more than they did before the pandemic and remain out of reach for people on the middle and lower rungs of the economic ladder. The high cost of food isn’t helping, either.
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Inflation hurts those who can least afford it. Lacy rams home the point—just because inflation is slowing, doesn’t mean there are not millions of people still suffering due to the higher costs of basic needs. Lacy walks us through the data.
We also discuss the economic impacts of artificial intelligence, the nuclear energy revival, and the pros and cons of immigration.
Watch my interview with Lacy Hunt by clicking the image above. A full transcript of our conversation is available here.
And be sure to download Dr. Hunt’s “Essential Documents in Economics & Investments” here.
What is your take on the state of the US economy? How well does the economic data match what you see happening around you? Leave a comment in the Global Macro Update community space here.
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Thanks for reading and watching.
Ed D’Agostino
Publisher & COO
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