Ladies and gentlemen… Rudy Havenstein.

(no, the other one)

Stephanie & Grant are back to take a look at the recent turmoil in the US banking sector as we bid farewell to Silicon Valley Bank and Signature Bank while First Republic remains on life support.

What do the decisions taken in late-March by regulators mean for the future of the America’s mid-size banks? Was their response a well-crafted rescue plan or a seat-of-the-pants decision? Have any of last week’s shenanigans altered the probability that the US slips into recession and, if so, what will that mean for bonds, equities and the dollar? What are all these people doing in my bedroom?

Come and join the fun as our intrepid duo try to figure out the answer to at least one of those questions.

Stephanie and Grant return for a long overdue conversation about the increasingly puzzling macro backdrop against which we’re all trying to first safeguard and then invest our increasingly precious capital.

Stephanie highlights the enormous discrepancy between the household employment survey and the Fed’s own payroll numbers and explains why, as others (including the Fed themselves) catch on, this is set to make a material difference to policy options.

Away from that, the two discuss credit markets, gold, the outlook for 2023 and anything else that takes their fancy in another hugely enjoyable discussion.

In the latest edition of The Super Terrific Happy Hour, Steph and Grant tackle the recent data as Steph shows the benefits of digging a little deeper than the headline numbers when economic figures are released. From the most recent BLS releases to inflation numbers and the real state of the consumer, Steph puts on a masterclass of analysis that goes far beyond the superficial standard set by most mainstream analysts. What do the recent Walmart, target and Amazon numbers tell us about the state of the economy and what problems are the current PPI and CPI data storing up?

Our guest as the Super Terrific Happy Hour returns from hiatus is a dear friend of us both who is gracing the podcast for a second time – John Hathaway of Sprott Asset Management.

The genesis of John’s latest appearance on the STHH was a recent presentation he gave at the Strong Conference in Colorado in which he laid out the case for gold as we enter 2022 and, potentially, a very different investing landscape to the one to which we’ve become accustomed over the last decade or two.

John offers his thoughts on inflation, what lies in store from the Fed, what that may mean for the gold price and how the mining companies might fare in this brave new world.

*This conversation was recorded immediately before last week’s CPI print

The Super Terrific Happy Hour returns with Steph Pomboy up a mountain in bear country contemplating all kinds of fascinating data points and dissecting them in her own inimitable way.

The conversation is filled with F-bombs as Grant and Steph ponder a cornucopia of topics from fundamentals to ‘flations to the Fed, froth and flawlessness (or lack of it).

Steph busts out some remarkable stats that will have you scratching your head as you watch markets look through the reality and embrace the fantasy that all is well and there’s nothing to worry about.

The housing market comes under the microscope as does the vital importance of the investing public embracing the idea that inflation is ‘transitory’.

There’s something for everyone in this edition of the Super Terrific Happy Hour so dive on in…

Joining Stephanie and Grant for episode 11 of The Super Terrific Happy Hour is Tony Greer of TG Macro.

Beginning with Tony’s days at the storied commodity trading house, J. Aron, he walks us through his experience of both trading a previous tech bubble (and the questionable decisions it prompted), a resurgent commodity complex (and the regrets it fostered) and the invaluable lessons he learned from both.

From there, Tony walks us through his current thoughts on the red-hot commodities sector, picking what he thinks will be the winners and potential losers if, as many fear, inflation finally returns and gains the upper hand.

Stephanie and Grant reconvene to noodle about a whole bunch of hot button topics including bitcoin – specifically Steph’s concerns about possible regulatory interference and the under-discussed question as to where the crypto darling may rank in the capital structure – whether any upcoming inflationary pressures are likely to merely be transitory and the change in the seasons which seems to be bringing springtime to the world of value investing just as winter approaches for technology and growth stocks.

The two discuss the effect an extra 10 million people out of work might have on both saving and spending, the likelihood that the housing market will continue to be strong as an ox and the nature of long-term, intractable problems that are all too obvious but never seem to matter until they’re right on top of us.