French Consumption, German Unemployment, and U.S. Tariff Tensions: PALvatar Market Recap, May 28 2025

With just days to go before The Festival of Learning kicks off on Wednesday Sept 2nd, Real Vision Co-Founder and CEO Raoul Pal and Real Vision Co-Founder and Chief Creative Officer Damian Horner hosted a Pre-Party. They announced more than 10 new additions to the festival line-up, answered your festival questions, and lots more. Don’t have a ticket yet? You’re running out of time… Get your ticket here - http://realvision.com/festival Learn more about your ad choices. Visit podcastchoices.com/adchoices

28 Elo 202028min

Senior editor, Ash Bennington, hosts Tommy Thornton, founder of Hedge Fund Telemetry, to check the pulse of the market. Tommy discusses how frothy markets have seen price action heavily skewed by sentiment, and how, with companies withholding guidance for the year, investors are flying blind. He and Ash go over some of the tools Tommy utilizes to examine market trends and momentum, explore how short sellers are currently getting smoked, and consider whether the Fed can continue its QE binge. Tommy then provides his view on the Fed’s move toward average inflation targeting and his forward outlook for the next few months. In the intro, Nick Correa provides an overview of Fed Chair Jay Powell’s speech at the Jackson Hole Symposium and how the Fed is shifting course regarding inflation targeting. Learn more about your ad choices. Visit podcastchoices.com/adchoices

27 Elo 202042min

Senior editor, Ash Bennington, joins managing editor, Ed Harrison, to discuss risk assets, credit markets, and the fiscal cliff. Within an environment of secular stagnation, they talk about the cross-asset play between bonds and equities as well as how overall credit tightening in the financials sector and the velocity of M2 money plummeting will have pernicious effects on growth. They also consider the dichotomy of monetary and fiscal policy and why the Fed will have to continue throwing all their chips in should fiscal authorities continue to be hawkish. In the intro, Nick Correa gives an overview of the tightening of credit markets. Learn more about your ad choices. Visit podcastchoices.com/adchoices

26 Elo 202035min

Senior editor, Ash Bennington, hosts Tony Greer, editor of The Morning Navigator, to continue their discussion of the wild inflation trade. They first look at ExxonMobil getting the boot from the Dow Jones and how it reflects a weak energy sector and the rotation of tech upward, describing how the boom across tech subsectors are correlated to Fed policies. Tony also notes how the baton has been passed over to commodities as well as they continue exploding and how a sell-off in bonds will sustain the commodities’ rally while denoting a rise in inflation. He closes off by providing an update on his thoughts on the DXY, why dollar weakness is a part of the commodities bull case, and what might be driving the rallies in the yen, euro, and Aussie dollar. In the intro, Nick Correa talks about tech’s ongoing dominance in the market by looking at Dow Jones’ makeover and how tech companies are lining up to file their IPOs. Learn more about your ad choices. Visit podcastchoices.com/adchoices

25 Elo 202024min

Real Vision senior editor Ash Bennington hosts managing editor Ed Harrison to make sense of a series of financial news stories -- from the so-called “K-shaped” recovery to the struggles American college towns are facing to Facebook CEO Mark Zuckerberg’s ringing the alarm bell on TikTok. They also evaluate Tesla’s meteoric rise, looking at comments made by Joel Greenblatt, a legendary investor as well as a Real Vision guest, that he “can’t explain it." Lastly, Ed and Ash scrutinize the rise of “investing gurus” on social media platforms. In the intro, Jack takes another look at the U.S. housing market. Learn more about your ad choices. Visit podcastchoices.com/adchoices

24 Elo 202037min

Simon Dixon, CEO of bnktothefuture.com, joins Real Vision CEO, Raoul Pal, to break down the intersection of the crypto world and the world of traditional finance. Starting his career in investment banking and joining the monetary reform movement along the way, Dixon understood early on the shortcomings of the fiat money system. He and Pal talk about applying traditional financial ideas to the crypto world and argue that doing so will create a stronger financial system for the future. Pal and Dixon discuss the early days of bitcoin, the intersection between central banks and crypto technologies, and their ideas about the relationship between bitcoin, dollars, and gold. Finally, they talk about how the principles of behavioral economics could impact the interplay between fiat currencies, cryptocurrencies, and the composition of future of financial markets.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

23 Elo 20201h 13min

We can all remember when geopolitical tensions and trade wars were the most important headlines seeming to move global markets up or down depending upon their tenor, but recently the global pandemic and the associated policy responses have brought the focus home with all eyes squarely on domestic fiscal policy. In this interview with Mike Green of Logica Capital Advisors, Marko Papic, partner and chief strategist at Clocktower Group, looks forward at the coming decade of the 20's and explores the growing importance of government consumption and investment to GDP, the countries and assets that will emerge as winners and losers from the rewiring of the global economy, and why the cold war is a poor analogy for U.S. relations with China. As well, they discuss why news of the European Union’s death has been greatly exaggerated and much more. Learn more about your ad choices. Visit podcastchoices.com/adchoices

22 Elo 20201h 14min

Real Vision CEO Raoul Pal is joined by senior editor Ash Bennington to reflect on the future of markets at this unique juncture. Raoul begins by giving Ash a glimpse of how his “unfolding” thesis has evolved, particularly with regard to the dollar. The discussion of currencies naturally leads Raoul and Ash to talk about the ongoing meltdown of the Turkish Lira (TRY). Raoul explains the correlation between Bitcoin and the TRY and explores whether it’s a sign of capital flight by Turkish investors. After a brief detour into New York City’s woes, Raoul and Ash consider how this consumer-led recession is widening the divide between skilled and unskilled workers, as well as between the rich and the poor. They then discuss Joe Biden’s recent nomination, the upcoming presidential election, and the importance of evaluating markets in a non-partisan way. In the intro, Jack Farley notes a stark contrast in the PMI data between Europe and the U.S. Learn more about your ad choices. Visit podcastchoices.com/adchoices

21 Elo 202047min