Ed covers issues with the investment property market and the current business model - particularly those associated with Air BNB rentals and mortgages as we move into an earnings recession. US & UK consumer sentiment / credit utilization is also covered.

Implications of draining the US Strategic Petroleum Reserve as Europe struggles with record energy prices is discussed & Russia's continued energy & economic warfare. A recent legal document from Tesla may show accounting mishaps dating back to February of 2014.

https://fred.stlouisfed.org/series/PSAVERT

https://www.theguardian.com/money/2022/may/31/uk-credit-card-borrowing-rises-at-fastest-annual-rate-for-17-years

https://archive.ph/zbf0j#selection-4511.70-4511.479

https://archive.ph/xE6qt 

https://www.bloomberg.com/news/features/2022-06-14/airbnb-rentals-turn-into-real-estate-goldmines-with-easy-money-mortgages#xj4y7vzkg

Ed covers the recent US inflation print and what that means for investors and markets going forward. 

Recent market navigation and some strategies Ed used for de-risking and hedging bets are discussed. 

He presents the incredible story of former VP of Bank of America, Matthew Benham and how he turned a $700k loan into over $300M during his time playing moneyball with Brentford F.C.

The show goes on to confront issues with Owner's Equivalent Rent (OER) calculation and how it may not be reflecting the reality of rent inflation in CPI.

Recent developments in Japanese and global private markets worthy of attention are discussed.

The show finishes by covering the incredible WWII story of 2nd LT Charles "Charlie" Brown and Luftwaffe fighter pilot Franz Stigler.

Future Islands and 2 books (Immoderate Greatness & Big Debt Crises) are lightly discussed.

https://www.houstonchronicle.com/business/real-estate/article/Houston-rents-have-soared-to-record-highs-16725899.php

https://www.wsbtv.com/news/local/atlanta/areas-around-atlanta-see-rent-increases-high-83-over-last-year/ATIMRW2BHBGDXII4VNELERDIOY/

https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03

http://larrysummers.com/2022/06/06/comparing-past-and-present-inflation/

https://www.cnbc.com/2022/04/06/boj-will-be-alarmed-if-yen-crosses-130-per-dollar-says-ex-vice-minister.html

https://fred.stlouisfed.org/series/UMCSENT

https://www.bloomberg.com/news/articles/2022-06-08/hedge-fund-d1-could-face-losses-as-private-companies-values-plunge

https://gasprices.aaa.com/

https://www.reuters.com/markets/wealth/us-sec-chair-says-much-be-done-protect-crypto-investors-2022-05-16/

https://www.bloomberg.com/news/articles/2022-06-01/esg-equity-funds-had-worst-month-of-outflows-on-record-in-may#xj4y7vzkg

https://www.atlantafed.org/-/media/documents/cqer/researchcq/gdpnow/RealGDPTrackingSlides.pdf

Ed talks about countries hit hardest from the war in Europe and makes a call on the US/EU positions in the economic cycle. How does the economic cycle relate to the fraud cycle? Is Tesla in trouble? Ed makes a wild call on EOY PT for Tesla shares.

What's happening in the crypto & NFT spaces? Luna & Luna 2.0 are covered. Recent news with Deutsche Bank regarding ESG is unraveled and Ed focuses on Europe and potential directions of the Ukrainian conflict. 

The show goes on to address trust problems in global finance and how that can play into politics. He refuses to pull punches on the U.S. Federal Reserve and ends in a fiery and explicit criticism of its policy framework that led us to where we are today. 

Sources:

https://www.un.org/sustainabledevelopment/poverty/#:~:text=More%20than%20700%20million%20people,live%20in%20sub%2DSaharan%20Africa.

https://fred.stlouisfed.org/series/AISRSA - US Auto domestic inventories

https://www.bbc.com/news/world-us-canada-61655577

https://www.justice.gov/usao-sdny/pr/former-employee-nft-marketplace-charged-first-ever-digital-asset-insider-trading-scheme 

https://www.ft.com/content/f9f21521-f354-42ed-92d3-ee9cf68e1534

https://www.ft.com/content/c46f767c-c8e3-47cf-b0a3-46d3b84498c3

https://www.tagesschau.de/wirtschaft/unternehmen/razzia-dws-101.html

https://markets.businessinsider.com/news/stocks/microstrategy-bitcoin-margin-call-21000-crypto-loan-mstr-stock-price-2022-5

Jim Chanos, “Short-Lived Lessons — From an Enron Short,” Wall Street Journal, May 30, 2006. Available on Classes*v2.

Ed talks housing market absurdity and draws similarities of the current US climate to that of the 70's. Wage-price or price-wage spiral? Should Americans & Europeans expect lines at the gas station? With energy affordability in focus, U.S. & European energy policy is now in question. Food shortages are beginning to hit the news, food protectionism may have bigger implications. Is the American consumer healthy? Ed doesn't seem to think so and goes on to dig heavily into issues with Apple's supply chains. 

Ed introduces the audience to Beats of the Market and provides a brief background of himself before covering one of America's largest ongoing concerns - inflation. What causes inflation, what will it take to end it, and how have equities & fixed income assets responded in this environment?