Anthony Pompliano

And let's move it that way.

The affordability thing, this just makes affordability worse.

And just so people know, that is a year-over-year number.

Correct.

So if it was month-over-month, when we see the next month-over-month number in headline CPI,

i i mean i think a one percent or higher number is gonna happen on the headline number we'll see what core does but this is the reason why i think people are in that instant gratification side they haven't adjusted i'm just giving people the the scenario of i think when we move a few weeks out you will start to see the the probability of an increase in a recession and i just want to emphasize

I've been fairly negative on this podcast because of private credit, because of the financial stocks.

All of those things were happening long before inflation expectations went higher.

We started pricing out Fed cuts.

Two-year rates have now gone up shortly.

These are other issues.

So financial conditions, that magic phrase that you hear people talk about, credit spreads are widening.

Oil prices are going higher.

The dollar's going higher.

Stocks are going down.

All of these things are saying the same thing right now, which is be more in cash.

Let's be patient with this.

And there are times where you don't want to be offensive with investing.

And I think this still remains one of those times to be defensive and to wait for better prices.

The only way that we would have, quote unquote, a recession would be a technical recession, meaning-