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cover of episode Tariffs: The Ultimate Stagflationary Shock? | Darius Dale on "Liberation Day," DOGE, Gold, and the Global Debt Refinancing Air Pocket

Tariffs: The Ultimate Stagflationary Shock? | Darius Dale on "Liberation Day," DOGE, Gold, and the Global Debt Refinancing Air Pocket

2025/4/2
logo of podcast Monetary Matters with Jack Farley

Monetary Matters with Jack Farley
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Darius Dale, CEO of 42Macro, discusses his bearish outlook on the market, comparing the current situation to previous market corrections in 2018 and 1998. He highlights the significant economic transformation underway, the asymmetry in market positioning, and the challenges in resetting medium-term expectations for growth, sales, and earnings. Dale anticipates a potential market bottom once the Fed or Trump put is struck.
  • Bearish outlook on the market due to economic transformation and market positioning
  • Comparison to market corrections in Q4 2018 and summer 1998
  • Expectation of a market bottom upon Fed or Trump put

Shownotes Transcript

Darius Dale of 42Macro joins Jack to explain why he’s been bearish on U.S. stocks and expects the rough sledding to continue. Dale believes stagflationary shock from tariffs and deflationary DOGE forces could cause Treasurys to catch a short-term bid, but long-term he is bearish on bonds. On a longer-term time horizon, Dale thinks Trump fiscal forces could be positive for the economy and markets. Recorded on April 1, 2025.

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