1 hr 2 min
Commodity Prices Are Due For A Severe Correction, Says Mike McGlone Forward Guidance
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- Investing
Mike McGlone, macro strategist at Bloomberg Intelligence, joins Jack to share his outlook on how commodities, bonds, and crypto will perform during this period of economic turbulence wherein some form of global recession is predicted by most mainstream economists.
McGlone argues that the price of oil remains too high to allow for economic growth, and that the pending economic slowdown is destroying demand and will continue to do so.
NOTE: This interview was filmed the afternoon of November 8th, 2022, a time at which the extent of crypto exchange FTX’s distress was still being discovered, and when it still looked like Binance would acquire FTX.
Follow Mike McGlone on Twitter https://twitter.com/mikemcglone11
Follow Jack Farley on Twitter https://rb.gy/uesguv
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___
Join Kraken, Binance, Arrington Capital, and 2000 others in heading to Dubai this fall for Algorand's DECIPHER conference, happening November 28-30. Tickets are available now -- use code DecipherFam22 for 25% off: https://www.decipherevent.com
___
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:
https://rb.gy/5weeyw
Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter:
https://rb.gy/feusos
Find out more about the Blockworks video editor role here: https://blockworks.co/careers/
__
Timestamps:
(00:00) Intro
(01:15) We're Going Down"
(05:28) FTX's Implosion Causing Cascades Within And Beyond Crypto
(07:43) McGlone's Bearish Case For Crude Oil
(11:57) Have Interest Rates Peaked?
(22:00) Have We Reached Peak Oil Demand?
(26:04) Is ESG Making The Oil Supply Curve Less Elastic?
(29:42) Forward Curve In Oil
(38:29) China Is In A Severe Recession
(47:56) Why Is Liquidity So Poor In Paper Oil?
(50:12) Bitcoin and Inflation
(55:39 Does FTX's Fall Change The Regulatory Approach Towards Crypto?
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
Mike McGlone, macro strategist at Bloomberg Intelligence, joins Jack to share his outlook on how commodities, bonds, and crypto will perform during this period of economic turbulence wherein some form of global recession is predicted by most mainstream economists.
McGlone argues that the price of oil remains too high to allow for economic growth, and that the pending economic slowdown is destroying demand and will continue to do so.
NOTE: This interview was filmed the afternoon of November 8th, 2022, a time at which the extent of crypto exchange FTX’s distress was still being discovered, and when it still looked like Binance would acquire FTX.
Follow Mike McGlone on Twitter https://twitter.com/mikemcglone11
Follow Jack Farley on Twitter https://rb.gy/uesguv
Follow Forward Guidance on Twitter https://rb.gy/cy0dki
Follow Blockworks on Twitter https://rb.gy/igyzsj
___
Join Kraken, Binance, Arrington Capital, and 2000 others in heading to Dubai this fall for Algorand's DECIPHER conference, happening November 28-30. Tickets are available now -- use code DecipherFam22 for 25% off: https://www.decipherevent.com
___
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:
https://rb.gy/5weeyw
Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter:
https://rb.gy/feusos
Find out more about the Blockworks video editor role here: https://blockworks.co/careers/
__
Timestamps:
(00:00) Intro
(01:15) We're Going Down"
(05:28) FTX's Implosion Causing Cascades Within And Beyond Crypto
(07:43) McGlone's Bearish Case For Crude Oil
(11:57) Have Interest Rates Peaked?
(22:00) Have We Reached Peak Oil Demand?
(26:04) Is ESG Making The Oil Supply Curve Less Elastic?
(29:42) Forward Curve In Oil
(38:29) China Is In A Severe Recession
(47:56) Why Is Liquidity So Poor In Paper Oil?
(50:12) Bitcoin and Inflation
(55:39 Does FTX's Fall Change The Regulatory Approach Towards Crypto?
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
1 hr 2 min