The Julia La Roche Show

Michael Howell, CEO of CrossBorder Capital, an investment advisory firm, and author of Capital Wars, returns to The Julia La Roche Show, where he analyzes global liquidity trends and warns of market risks ahead. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia In this episode, Howell presents his global liquidity cycle framework showing markets are late...

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to the show for an in-person episode to recap the FOMC, discuss the state of the economy, housing, and his highest conviction ideas. Sponsor: Monetary Metals. https://monetary-metals.com/julia Links:     Twitter/X: https://twitter.com/rcwhalen     Website: https://www.rcwhalen.com/     The I...

Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, joins Julia La Roche in-studio following the September FOMC. DiMartino Booth argues the Fed "chose independence over economy" with its 25bp cut, as Waller and Bowman sacrificed potential Fed chair positions by not dissenting for larger cuts. She presents compelling evidence the US has created zero jobs since April in the...

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to the show his monthly appearance. In this episode, Whalen reports taking a risk-off position after 30% gains this year, noting Wall Street hedge funds are similarly going net short amid concerns about Treasury market stability. He warns that upcoming Supreme Court tariff decisions could fo...

Ted Oakley, Managing Partner and Founder of Oxbow Advisors, joins Julia La Roche on episode 285 to discuss the economy and markets. Sponsored by Monetary Metals. https://monetary-metals.com/julia In this episode, Ted warns that markets are extremely expensive at 23x future earnings while the economy is flatlining. He expects coming Fed rate cuts to be an Arthur Burns-style policy mistake, creating...

Melody Wright, author of M3 Melody Substack, returns to the show for episode 284 where she delivers a stark assessment of the housing market. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia Links: YouTube; https://www.youtube.com/@m3_melody X: https://x.com/m3_melody Substack: https://m3melody.substack.com/ Timestamps 0:00 Welcome and introduction - Me...

Warren Pies, founder of 3Fourteen Research, explains how markets have transitioned from a deflationary mindset to a debasement era over the past five years, driven primarily by massive fiscal spending rather than Fed policy. He argues that anger directed at the Fed should be redirected toward fiscal authorities who created unprecedented pro-cyclical deficits. Pies is benchmark long equities and bu...

Jim Bianco, president of Bianco Research, returns to The Julia La Roche Show for episode 282 to react to Fed Chair Jerome Powell's Jackson Hole speech on Friday. Bianco argues Powell "caved" on rate cuts despite inappropriate conditions, with core inflation above 3% and markets at all-time highs. He explains that the pandemic permanently changed the economy, while Trump's immigra...

Peter Grandich, veteran of 40+ years on Wall Street, delivers his most dire warning yet, saying he's more concerned than during the 1987 crash, dot-com bubble, or 2008 financial crisis due to deteriorating political, social, and economic conditions. He describes a dangerous "K-economy" where the top 10% own 86% of assets while the bottom 50% use credit cards for basic necessities, creating fertile...

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to the show. He argues the Fed is unlikely to cut rates in September despite market expectations, with only a one-in-three chance due to FOMC dynamics and persistent inflation. He expects radical Fed reforms under Trump's nominee Steve Miran, including potentially moving the Fed out of W...

Dr. Marc Faber, editor of the Gloom Boom and Doom Report, provides his characteristically pessimistic outlook, arguing that while Asian economies have bottomed out, mature Western economies are turning down amid unsustainable asset price inflation. He believes the 40-year asset bubble since 1980-81 is ending and "everything will go down eventually," making preservation of capital more important th...

Anna Wong, Chief US Economist at Bloomberg Economics, analyzes shocking jobs revisions showing only 35,000 jobs added over three months and questions whether this signals real weakness or statistical noise. Using her team's "12 million prices project," she reveals tariff pass-through is already happening with audio equipment up 11%, while services inflation may rebound as consumer se...

Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, joins Julia La Roche in-studio on Fed day to analyze the historic FOMC meeting featuring the first double dissent since 1993, arguing it could have been a triple dissent based on softened statement language. She criticizes Powell's dismissive handling of the dissenters and Trump's public attacks on the Fed chair, warning of...

Bill Fleckenstein, founder and president of Fleckenstein Capital, returns to The Julia La Roche Show for episode 276 where he provides an assessment of America's financial predicament, arguing that 30 years of Federal Reserve easy money policies have created damage to the economy and society. He explains how the Treasury is attempting to manage the $36 trillion debt crisis by rolling financing...

Nick Maggiulli, COO at Ritholtz Wealth Management and author of "The Wealth Ladder," presents his data-driven framework for understanding wealth progression. He explains his six-level wealth ladder system (from under $10K to over $100M) and introduces the 0.01% spending rule for lifestyle decisions. Maggiulli emphasizes focusing on controllable factors rather than macro predictions, shar...

Henrik Zeberg, head macro economist at SwissBlock, warns that markets are approaching a historic "blow-off top" with the S&P 500 potentially reaching 6,700-6,900 before a devastating crash. Using his business cycle model, he argues we've already hit the "Titanic moment" - where leading indicators have collapsed while markets surge to bubble extremes. Zeberg predicts thi...

New York Times’ bestselling author Larry McDonald, founder of The Bear Traps Report, returns to The Julia La Roche Show for episode 273 to discuss the markets and the economy. Sponsors: Monetary Metals. https://monetary-metals.com/julia Kalshi: https://kalshi.com/julia Links: How To Listen When Markets Speak: https://www.amazon.com/Listen-When-Markets-Speak-Opportunities-ebook/dp/B0C4DFVFNR Twitte...

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to the show. He argues the Fed is "clearly late" in addressing a commercial real estate nightmare while consumer credit remains quiet, creating a "silent recession" ignored by markets. He warns the "Big Beautiful Bill" will drive inflation higher despite Trump&#...

Meredith Whitney, CEO of Meredith Whitney Advisory Group, returns to The Julia La Roche Show to discuss her outlook on a bifurcated economy where 52% of households are entering their second recession since COVID stimulus ended, while high-end consumers continue driving economic growth. Sponsors: Monetary Metals: https://monetary-metals.com/julia⁠ Kalshi: ⁠https://kalshi.com/julia Links: https://me...

David Rosenberg, founder and president of Rosenberg Research, believes recession odds are higher than 2022 despite nobody expecting one, pointing to Fed staff forecasting 50% recession probability and the most downbeat Beige Book since 1980. Rosenberg criticizes Powell for calling the economy "solid" while real GDP has been negative sequentially in 2 of the past 3 months and survey data suggests 1...

Luke Gromen, founder of FFTT, joins the Julia La Roche Show for episode 269 for his latest macro update. Gromen argues the US government is in fiscal dominance, spending over 100% of tax receipts on entitlements and interest payments alone. He says Fed Chair Powell faces a binary choice between crushing the dollar through inflation or crushing the bond market through higher rates. Gromen notes tha...

Michael Pento, president and founder of Pento Portfolio Strategies (PPS), joins Julia La Roche on episode 268, warning of a coming "grand reconciliation" where credit, stock, and real estate bubbles will burst. He argues the US debt is unsustainable, with the next recession triggering $4-6 trillion annual deficits. Pento predicts Trump will replace Powell with an "obsequious sycopha...

Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, and George Goncalves, Head of U.S. Macro Strategy at MUFG, join Julia La Roche in-studio on FOMC day, where they break down the Fed's decision to leave rates unchanged, the state of the economy, and the interest rate outlook. Sponsors: Monetary Metals: https://monetary-metals.com/julia⁠ Kalshi: ⁠https://kalshi.com/julia Links: http...

Rick Rule, president and CEO of Rule Investment Media and co-founder of Battle Bank, joins the Julia La Roche Show for episode 266 for his quarterly appearance. In this episode, Rule predicts the US dollar will lose 75% of its purchasing power over the next decade, similar to the 1970s crisis. He explains that $130 trillion in total government liabilities against $141 trillion in private wealth cr...

Professor Steve H. Hanke, professor of applied economics at Johns Hopkins University and the founder and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise, joins Julia La Roche on episode 265 to discuss the economy and his new book "Making Money Work: How to Rewrite the Rules of Our Financial System." Sponsors: Monetary Metals. https:...