'World Is Breaking Apart,’: We’re on the Verge of a Sovereign Debt Crisis, Says Michael Gayed

The Inflation Reduction Act is, "unequivocally a misnomer", according to Michael Gayed, portfolio manager at Toroso Investments and publisher of The Lead-Lag Report. He tells our Daniela Cambone that recent spending bills have proven to, "never be used to actually pay down debt, but used as justification to do more." "It wouldn't surprise me if there was a much bigger recession down the line," but Gayed says it's still unclear if we are in a recession right now. He suggests that "the best thing for investors to do is to consider treasuries again." Gayed concludes by arguing that the way the dollar has acted against other currencies signals a potential debt crisis is coming. #inflation #inflationreductionact #recession #dollar ⭐️ Join Daniela Cambone's exclusive community ➡️ https://danielacambone.com ➡️ Follow us on Facebook: https://www.facebook.com/StansberryResearch ➡️ Follow us on Twitter: https://twitter.com/stansberry ➡️ Follow us on Instagram: https://www.instagram.com/stansberry_research ➡️ Follow us on LinkedIn: https://www.linkedin.com/company/stanberry-research Chapters: 00:00 Gayed’s view on the Inflation Reduction Act 6:13 Fed’s interest rates policy 8:13 Stock market performance 11:00 When will the housing price go down? 12:01 Where are we at in this recession? 13:38 Gayed’s favorable sectors 15:24 Where is bitcoin heading? 18:23 Where will the money flow out of bitcoin? 19:30 Why isn’t gold performing well? 22:29 How near are we to a sovereign debt crisis? 24:08 U.S. dollar’s global reserve currency status 25:12 Repercussions of a sovereign debt crisis 26:57 Gayed’s view on taxing the rich