Watch: “We Have Never Seen This in Economic History,” Kevin O’Leary (
On today’s episode, Daniela Cambone speaks with Kevin O’Leary, widely known as "Mr. Wonderful," about inflation, Fed Chairman Jerome Powell, bitcoin, gold, and more. O’Leary says we haven’t hit peak inflation and the fact that we have full employment with the second quarter of gross domestic product shrinking “has never happened before.” “It’s very hard to call this a recession,” he explains and claims Powell is “doing a really good job” because “he’s trying to stay flexible” and figure out where the economy is headed. O’Leary goes on to say that bitcoin and other cryptocurrencies need regulations and he is confident that something is going to happen soon. When asked about gold, O’Leary said he is not very fond of the precious metal and says it is “not doing what it should be if you’re really a believer of hyperinflation.”

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00:00 When will we hit peak inflation?
3:37 Are we in a recession?
5:59 What grade would you give Powell?
7:17 That status of bitcoin
9:50 Kevin’s strategy on crypto portfolio allocation
11:32 The path for the U.S. dollar
13:02 Gold’s hedging function
14:08 Has the housing market topped?
15:29 Luxury watches market
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    Francisco Gimeno - BC Analyst There is the idea that this time the recession (if it is starting/has started) is not behaving "as it should be" according to the manuals. All because the labour market and consumer spending continues to be high which in a recession is always the opposite. For some this is due to the Post Pandemic period which made many baby boomers retire and leave many job options open, and people feeling we should be back to normal times and spend money. Which in some few months from now can/will be worse, as the job market will shrink, prices will go up, global political shifts aggravate the economy and the autumn and winter in the North hemisphere make the issue of energy become urgent. So what should we do? Just be prepared for anything both positive or negative, and go with the flow in crypto, getting as much information as possible, data, on how markets are going, jobs, real estate issues, and so on. Always DYOH don't trust just on the opinions of others, and decide accordingly.
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