Brian Wesbury, Chief Economist at First Trust Advisors LP, joins Julia La Roche episode 190 to discuss the macro picture and why the economy is likely headed toward recession. He also thinks this overvalued stock market could see a 15-20% correction.

Links:

website: https://www.ftportfolios.com/

blog: https://www.ftportfolios.com/retail/blogs/Economics/index.aspx

X: https://x.com/wesbury

0:00 Welcome Brian Wesbury

1:09 Macro view

3:30 Why we're going to have a recession

4:25 Health of the economy

8:15 Savings rate

10:45 Bifurcated economy

12:30 Housing

15:45 Federal Reserve have separated the money supply from interest rates

19:60 Burns or Volcker

21:20 Cut because of politics

25:20 Debt situation

30:40 Bitcoin

33:44 State-run capitalism

37:00 Markets

40:00 Energy

42:50 Presidential election

47:20 Parting thoughts