How to Lose 94% of Your Wealth in one Day, CPI and Twitter

<p>Fed Chairman Jerome Powell still says it's possible to cool the economy and keep employment stable – without a severe recession, in what would be a 'soft landing.' However, according to Nouriel Rubini, professor emeritus at New York University’s Stern School of Business and CEO of Rubini Macro Associates, better known as 'Dr. Doom', a recession and an economic 'hard landing' are all but guaranteed.</p><p>In today's episode Chris and Saied discuss Dr. Doom's prognosis and why historical evidence would seem to prove him right: No one is getting a soft landing.</p><p><br></p><p>They discuss the recent news that a federal judge in Texas has ruled that President Joe Biden's plan to cancel hundreds of billions of dollars in student loan debt was unlawful and must be vacated, delivering a victory to conservative opponents of the program.</p><p><br></p><p>Chris and Saied look at Sam Bankman-Fried, the cryptocurrency entrepreneur, founder and CEO of FTX and (former) billionaire, whose cryptocurrency empire went from $16 billion at the start of the week, to nearly non existent by the end.</p><p><br></p><p>They also discuss comments by former Treasury Chief Larry Summers, who said that stubborn inflation could force the Federal Reserve to hike interest rates above 6%, the highest level in more than two decades.</p><p><br></p><p>Join Chris and Saied for this fascinating conversation.</p><p><br></p><p>Enjoy!</p><p><br></p><p><br></p><p><strong>What You’ll Learn in this Show:</strong></p><ul><li>Why the idea that the economy will somehow avoid a recession and achieve a kind of 'soft landing' is a fallacy.</li><li>What happens now that President Biden's Student Loan Forgiveness program has been (temporarily at least) struck down.</li><li>How one of the darlings of the cryptocurrency industry lost 94% of his wealth in less than a week.</li><li>Why Larry Summers thinks that the economy might be more resilient to rate increases than expected, which could put pressure on the Fed to hike rates even further.</li><li>And so much mo