Debt Driven Recession Inevitable in Next 18 Months, says DICK BOVE. Servicing Debt Costs Hit Record, Interest Rates Soar 50% to 100%. Economy Will Be ’Crushed.’ Putin’s Tough Grain Talk. African Era

Many economists had widely anticipated a US and global recession for the past 12 months, a recession that never materialized. With the US Fed aggressively hiking interest rates to tamp down sky-high inflation, the view was that it would result in a sharp rise in unemployment, as well as a steady decline in economic activity. Instead, the US economy has remained resilient, inflation has declined while employers have added 3.1 million jobs in the past 12 months.

But this much anticipated recession may just have been delayed a little bit longer. And when it erupts, it could be sharp and brutual. In a new report, DICK BOVE, forecasts a debt fuelled recession within the next 18 months. BOVE, chief financial strategist at ODEON CAPITAL GROUP, traces much of the origins of this next downturn to the overwhelming surge in the US money in the early 2020s in response to the Covid 19 pandemic. A new set of dominoes, he says, are likely in 2024:

*Consumer debt rising too rapidly

*Cost of that debt rising even faster

*Continued increases in wages, debt defaults starting to mount

*Money massively stimulating consumption rather than the vital production side of the economy.

"I believe that by the middle to the end of 2024, we're going to be dealing with debt servicing problems, and that's going to crash the economy," says BOVE.

Joining the CONVERSATION is MAT VAN ALSTYNE, ODEON co-founder and managing partner, as well as our host, JOHN AIDAN BYRNE.

Questions & Comments: Podcast@odeoncap.com