The Julia La Roche Show

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, joins The Julia La Roche Show for "The Wrap with Chris Whalen" for his 2026 outlook.In this episode, Whalen warns of a market correction comparable to 2008, driven by carnage in private equity where hundreds of companies cannot be sold and sponsors are selling companies to themselves. After a decade-and-a-half Fed liquidity party, he predicts corporate credit will worsen in 2026, setting the stage for a housing market decline in 2027-28. Whalen reveals fraud has become epidemic in housing thanks to AI-altered bank statements, discusses the global power shift as Shanghai now sets gold prices (not Chicago or London), and explains why Powell will likely stay on the Fed board through 2028 to protect the institution - betraying Trump just like every Fed chair before him.Links:    The Institutional Risk Analyst: https://www.theinstitutionalriskanalyst.com/  https://www.theinstitutionalriskanalyst.com/post/theira794Inflated book (2nd edition): https://www.barnesandnoble.com/w/inflated-r-christopher-whalen/1146303673Twitter/X: https://twitter.com/rcwhalen    Website: https://www.rcwhalen.com/   Timestamps:0:00 Intro and welcome back to The Wrap with Chris Whalen01:25 2025 retrospective3:35 Big stories of 2026 05:30 Midterms 08:21 Maxi market correction coming alongside 2008 in textbooks15:09 Will Powell retire or remain on the board?16:45 Will we see a more hawkish Fed in 2026?17:50 Default rates21:25 What happens with housing in 202622:42 Drawing parallels to the Gilded Age26:29 Gold and silver - another good year ahead32:41 Viewer question: Annaly mortgage REIT common vs preferred36:48 What's on the radar next week: Big investment banks piece38:18 Wrap up and where to find Chris Whalen

Peter Grandich delivers his most bearish outlook in a 40+ year career, predicting 2026-2027 could be the most challenging years in 50 years due to mounting debt ($38T heading to $50T), political division worse than any time since the Civil War, and a deteriorating middle class hanging by its fingernails. He explains why this was his best five-year period after moving entirely into gold and precious metals in 2021, with price targets of $5,000 for gold and $100 for silver still ahead. He warns we're in the earliest stages of becoming a banana republic as BRICS launches a gold-backed trading unit and de-dollarization accelerates.This episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXJuliaLinks: https://x.com/PeterGrandichhttps://petergrandich.com/https://www.amazon.com/Confessions-FORMER-Wall-Street-Whiz/dp/B096LPRYW6Timestamps: 00:00 Intro and welcome Peter Grandich01:17 Macro view - not a lot of positive things to say09:47 Best year in five years - gold and precious metals trade13:52 Oil prediction: $50 before $15015:12 Deteriorating middle class hanging by fingernails21:41 Most concerned he's ever been in 40+ year career23:01 Trump's trade war mistakes 28:21 De-dollarization and dollars coming back to US30:18 Solutions: Return to moral compass and faith35:48 Wealth preservation vs appreciation for investors41:31 Passive investing 45:12 The 12 factors of why party like 1929 will bite back47:58 Biblical wisdom on debt and finances49:19 Parting thoughts

Carol Roth, a “recovering” investment banker, financial television commentator, entrepreneur, and two-time New York Times best-selling author, joins Julia La Roche again for episode 321. Carol delivers a sobering assessment of America's broken fiscal foundation with debt-to-GDP over 120%, explaining why the K-shaped economy is creating a non-merit-based divide driven by policy and the administrative class wealth transfer. She discusses the wealth paradox - despite abundance, Americans are more stressed than ever due to housing, education, and healthcare costs - and predicts inflation will be the release valve for our debt crisis. Roth shares her bullish thesis on gold and precious metals as central banks shift away from US Treasuries, explains why the Fed's tools are now irrelevant in this fiscal dominance era, and reveals her predictions for 2026 including decoupling from European allies, Fed chaos, and wild out-of-the-box policies. This episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXJuliaLinks:  You Will Own Nothing: https://www.carolroth.com/nothing/ Follow Carol Roth on X: https://x.com/caroljsrothTimestamps: 00:00 Intro and welcome Carol Roth00:57 Big picture macro view: Broken fiscal foundation04:07 K-shaped economy debate and wealth paradox11:46 Administrative class wealth transfer problem18:33 Is Trump going to fix the broken fiscal foundation?24:37 Do rate cuts help everyday Americans?30:51 Gold as hedge and insurance policy37:50 "You Will Own Nothing" - what's changed since 202345:33 Predictions for 202648:58 Wrap up and where to find Carol

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog, joins The Julia La Roche Show for "The Wrap with Chris Whalen." In this episode, Chris Whalen breaks down why Kevin Hassett may have blown his chances for Fed Chair by walking back Trump's views, discusses Kevin Warsh as the emerging frontrunner, and explains his reform proposal to return to a decentralized Fed with 15 district banks focused solely on sound money. He reveals why Trump's rhetoric about interest rates is backfiring (pushing the 10-year UP instead of down), predicts a home price correction in 2027-28, and explains why 3% inflation is now the new target. Whalen also discusses why gold and silver are still in early innings, how commercial real estate pain is being quietly resolved in the background, why good bank numbers mask concerning private credit risks, and answers a viewer question about BOJ rate hikes potentially triggering a broader correction.Links:    The Institutional Risk Analyst: https://www.theinstitutionalriskanalyst.com/  https://www.theinstitutionalriskanalyst.com/post/theira785Inflated book (2nd edition): https://www.barnesandnoble.com/w/inflated-r-christopher-whalen/1146303673Twitter/X: https://twitter.com/rcwhalen    Website: https://www.rcwhalen.com/   https://international-economy.com/TIE_Su25_Whalen.pdfTimestamps:00:00 Welcome Chris Whalen01:10 Kevin Hassett: Did he blow his chances for Fed Chair?03:38 Reforming the Fed: Decentralized model vs FDR's changes04:11 How decentralization would change Fed policy06:08 Fed must be independent of President, not Congress07:44 Post-1935 power concentration with Fed Chair08:11 How centralization distorted monetary policy09:17 Has the Fed been acting like its own hedge fund?10:30 Home price correction coming in 2027-2811:14 Subscribe reminder11:52 Trump's rate talk pushing yields UP not down12:56 Advice to Trump: Talk about growth and jobs, not rates14:09 Kevin Warsh as emerging frontrunner for Fed Chair15:17 Scrap the dual mandate, focus on sound currency16:41 CPI print this week: 3% is the new target17:23 Raising conforming limits encourages more inflation18:42 Gold, sound money, and what Treasury should do20:14 Is sound money viable?21:33 Roosevelt's New Deal legacy and today's problems22:53 Silver all-time high, gold north of $4,300 - still early innings24:22 Commercial real estate pain and which banks are exposed27:10 Private credit, NDFIs and why good bank numbers are concerning29:37 Inflation driving everything in New York and beyond30:22 Viewer question: BOJ rate hikes and impact on risk assets31:44 Wrap up, year-end predictions preview and where to find Chris

Peter Schiff delivers a stark warning: America is headed for the biggest economic crisis of our lifetimes - not a stock market crash, but a dollar collapse leading to an inflationary depression. He explains why gold hitting $4,300 and silver above $66 are screaming signals of an impending currency crisis, responds to Trump's personal attack calling him a "jerk" and "loser" on Truth Social, and breaks down why both Trump and Biden caused the inflation crisis through massive deficit spending and Fed money printing. Schiff reveals why he's positioned his portfolio for a dollar crash (up 60-120% this year in precious metals), predicts a radical left Democrat will win in 2028, and explains the dark reality: Americans will experience a poor country's economy but with higher prices - unless they protect their wealth now with gold, silver, and foreign assets.This episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXJuliaLinks:https://x.com/PeterSchiffEuropac.comhttp://SchiffGold.comTimestamps: 00:00 Intro and welcome Peter Schiff01:19 Big picture macro view: America's bleak outlook04:00 Gold and silver screaming currency crisis is coming07:04 Prediction: Radical left Democrat in White House 202808:39 Peter's reaction to Trump's Truth Social attack10:19 Trump's ridiculous claim that prices are coming down11:37 Biden and Trump both caused inflation crisis13:40 Trump's "big beautiful bill" making deficits worse15:00 Republicans in trouble for 2026 midterms16:28 Trump is not a real conservative or capitalist22:12 Affordability crisis and government spending problem23:33 No politically viable way to right the ship25:00 We need higher interest rates, not lower27:28 Gold up 65%, silver up 120% this year28:30 Why "perma bear" label is wrong30:00 The dollar crash Peter has been predicting32:22 Investors moving money overseas from US stocks34:02 How gold skyrocketing pulls rug from under dollar36:08 Dollar reserve currency status ending38:22 Inflationary depression: weak economy, high inflation44:31 How everyday Americans will be impacted47:09 Early innings for gold and silver53:41 What Peter wishes he said on Tucker56:20 Capitalism blamed for socialism's damage57:59 Wrap up and appreciation