George Gammon hosts the Rebel Capitalist Show on YouTube and manages the Rebel Capitalist Pro platform. George is one of my favorite economic commentators and has been a friend of mine and my podcast for years. I often describe his podcast as similar to mine, more thoughtful, more educational, and more helpful with less lice and fart jokes. Hey, everyone has their own style.
This is a discussion I had with George on Monday night after the chaos in US markets on Monday, which followed a 12% drop in Japanese stocks on Sunday night into Monday.
In this podcast we talked about:
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What is yen trading and why it is spoiling the works in the US
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Other Risks to US Markets and the US Economy
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If George thinks we're headed for a debt crisis (the answer might surprise you)
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What the bond market tells us
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How does George think the Fed will react to this volatility
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What George thinks the market will do in both the short and medium term
Paid subscribers can listen to the full hour-long audio above and access the full transcript along with the audio.
But in short, this is how George described the yen carry trade: