#288 Chris Whalen: Fed Caused Housing Emergency, Rate Cuts Won't Fix It

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, returns to the show for an in-person episode to recap the FOMC, discuss the state of the economy, housing, and his highest conviction ideas. Sponsor: Monetary Metals. https://monetary-metals.com/julia Links:     Twitter/X: https://twitter.com/rcwhalen     Website: https://www.rcwhalen.com/     The Institutional Risk Analyst: https://www.theinstitutionalriskanalyst.com/    Inflated book (2nd edition): https://www.barnesandnoble.com/w/inflated-r-christopher-whalen/1146303673 Timestamps: 0:00 Welcome and introduction - Chris Whalen's first in-studio appearance 0:24 Julia's introduction highlighting Chris's credentials and analysis 1:16 Fed takeaway - Steve Miran only governor wanting 50bp cut 2:19 Housing emergency coming - Fed drove prices up, Trump faces constraint 2:31 Housing scenarios - mortgage rates retreating after quarter point 4:17 Monetary Metals ad read 5:34 Housing psychology - homeowners trying to sell at the top 6:53 Office space comparison - no longer premium asset class 7:38 Fed rate cut outlook - may not see more cuts for months 9:58 Bank balance sheet problems - mortgage securities underwater 10:54 Politics of inflation - housing affordability crisis 13:10 Viewer housing question response - Florida 1924 parallels 15:32 DC trip on GSEs - still no roadmap from Treasury 18:43 Fannie/Freddie trade - made 30% then got out 19:54 Taking profits 22:36 Watching the herd mentality 25:20 Dollar/deficit thesis - weaker dollar, Treasury pressure ahead 27:47 Fed restructuring vision - eliminate Board of Governors 31:09 Housing emergency declaration - resuming MBS purchases discussion 33:51 Mixed economy - wealthy vs bottom quartile struggling 34:34 Debt myths - Americans love inflation, debt is currency 36:18 Highest conviction trade - gold and strategic silver