Manage episode 342557540 series 2806946
MARK TEPPER IS BACK!!
[12:35] The Fed put is no longer in play and the Fed will have to fight inflation by causing a lengthy recession in order to get inflation under control. This will lead to job loss and market decline. The biggest fear is that on the fiscal policy side if Democrats remain in office, there will be universal basic income which will be inflationary and penalize those who have done everything right.
[14:55] People just want participation trophies at work. It is a very elitist mentality for corporate employees at GM who refuse to come to work only 3 days a week, while the factory workers obviously still have to come in and build your product.
[31:37] The job market is expected to worsen, with the Fed predicting a rise in unemployment to 4.4%. This could mean 1.7 million Americans losing their jobs. Productivity is also down, with people jumping shifts and making fewer widgets. The job market will reset when people are fired and have to find work at lower pay.
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