In this edition of Real Conversations, Hedgeye CEO Keith McCullough welcomes Christopher Whalen, chairman of Whalen Global Advisors, in an extensive discussion ranging from his newly-released book Ford Men, a study of Ford Motor Co and the Ford family, to a host of important financial market issues affecting investors.
Here’s a taste:
- U.S. Economy: “We’re going to see the economy fade in the second half. You don’t have a lot of demand. I think you’re going to see volatility in that GDP series again.”
- Trump, Protectionism & American Workers: “Wilbur Ross wants to be able to tell the constituents of Donald Trump that they have done what they set out to do, which is to make it fair to American workers. Having said that, the answer is to make American workers more productive, so they can do things where they get paid more money.”
- The Fed: “The system needs to deflate. The great fallacy of the central banker is that you can somehow prevent the system from re-adjusting after a great period of excess. The answer is no you can’t.”
- Tax Reform: “I don’t think there’s much chance that what Trump’s put out there is going to get enacted because even though Republicans want growth they are not going to blow out the budget numbers. The Conservatives in the House won’t allow it.”
- Offshore Financial Transactions: “Over the last 30 years, U.S. corporates have probably deprived the Treasury of $10 trillion worth of taxes.”
