C: Mathieu Stern via Unsplash

PODCAST: John Aidan Byrne on Odeon Capital Conversations asks if Massive Scale of Wealth Destruction in 2022.

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Massive Scale of Wealth Destruction in 2022. How US Reaps Benefits of Global Cyclical Change. Dismal Structure of US Labor Markets. Japan’s Puzzling Economy. Putin’s Imperialism. Money Supply Shock


In the first episode of the New Year, the CONVERSATION first looks back at 2022 and then to the future. There is an accounting from DICK BOVE of the massive wealth that evaporated in the stock and crypto markets last year. In equities alone, some $30 in market value was erased, posing risks for the future course of the American economy, he says. “You can’t have a strong economy and a strong market if money is evaporating, ” says BOVE, chief financial strategist at ODEON CAPITAL GROUP. The CONVERSATION looks more closely at this wealth destruction and the easy money policies that led to this and record inflation. Inflation is widely slammed by analysts and economists as a bad outcome. But MAT VAN ALSTYNE. ODEON co-founder and managing partner, posits that inflation may actually be one way for a nation to regain control of its economy. Japan is then examined by VAN ALSTYNE as an economy that has defied,  “all logic and expectations” despite decades of underlying structural problems and a mountain of debt

Meanwhile, there is major global cyclical change underway, according to BOVE. Yet, he says, many investors and many in the media are missing the point, failing to recognize that a major adjustment has begun.  “I strongly believe that the new cycle developing in the United States economy will be dramatically different than the old one that is dying at present,” according to BOVE. In this new cycle, investment determinations are based on risk adjusted return on capital, or RAROC. Joining the CONVERSATION is JOHN AIDAN BYRNE.

 

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