Forward Guidance is sponsored by VanEck.Learn more about VanEck Bitcoin Trust (HODL) http://vaneck.com/HODLFG.VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/us/hodlprospectus.__Follow Alf on Twitter https://twitter.com/MacroAlfFollow VanEck on Twitter https://twitter.com/vaneck_usFollow Jack Farley on Twitter https://twitter.com/JackFarley96Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidanceFollow Blockworks on Twitter https://twitter.com/Blockworks___Timestamps:(00:00) Introduction(00:24) Debt Service Ratio In U.S. Means Higher Interest Rates Haven't Caused Interest Expense To Skyrocket(02:37) The "Higher Interest Rates Are Stimulative" Argument Has Gone War Too Far(06:45) Outside Of The U.S., Higher Interest Rates Already HAVE Had A Big Effect(08:46) Private Debt, Not Public Debt, Is The Cause Of Most Modern Financial Crises(11:23) Eurozone Countries Can't Print Their Own Currency The Way A Monetary Sovereign Can(14:04) Is Government Deficit The Surplus Of The Private Sector?(21:43) VanEck ad(22:50) Making Money And Being Right Are Often Different Things(25:13) Is Private Sector Investment "Crowded Out" By Government Borrowing?(26:51) The Four Factors That Impact Interest Rate Sensitivity Of An Economy(29:53) U.S. Recession Risk Is Underpriced By Interest Rate Futures Market(32:28) If Nominal GDP Comes In Below Consensus, Stocks Could Rally (Rather Than Sell-off)(37:16) Macro Carry Strategies(42:52) The Case For A Bull Steepener (Short-Term Yields Fall More Than Long-Term Yields)(44:45) Weighing Probabilities Of Soft Landing vs. Recession vs. No Landing__Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.