Henrik Zeberg returns to break down Kevin Warsh's Jackson Hole speech, a brutal non-farm payroll revision that cuts a full year of job growth down to 16,000 jobs a month, and why he thinks the labor market is already in free fall while the Fed stays hawkish.
Henrik lays out his full risk-on strategy going into year end: Bitcoin targeting $115K before what he believes is already a major cycle top, Ethereum toward $7,200, and the Nasdaq with room to run another 20-25% higher even as the real economy rolls over. He explains why he expects a top in risk assets in Q4, most likely October through December, and what indicators he's watching before rotating out into cash and treasuries.
The conversation also covers why he thinks the private credit market is the real hidden risk this cycle, his gold price target and why he's not buying the $20,000-by-year-end call, and why he pushes back on the idea that AI can prevent the coming recession.
#Bitcoin #Crypto #HenrikZeberg #Macro #Gold #Ethereum #StockMarket #FederalReserve #Fed #recession
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⏱️ Timestamps:
00:00 Intro
01:13 Jackson Hole Takeaways
03:11 Jobs Revision Shock
05:58 Household Survey Explained
08:28 Inflation Lags Reality
12:44 Bitcoin Rally Rotation
16:04 Q4 Top Call
21:20 Fed Cant Fix Solvency
26:35 Valuations vs 2008
29:44 Tech Bubble Meets Credit
32:29 Treasury Buybacks Debate
37:55 Gold Price Reality Check
39:16 Stagflation And Timing
45:57 Spotting The Market Top
51:24 Can AI Prevent Recession
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