Intro: We’re hearing a lot about stagflation lately, but what exactly is stagflation and should we be concerned about it? Our economic expert guest Jack Hanney says we should be concerned, very concerned. He goes so far as to say we are on the cusp of a “Volcker Moment,” reminiscent of the transition years between the Jimmy Carter and Reagan administrations. Jack Hanney is an economist and CEO of Patriot Gold Group. Welcome, Jack Hanney.
Talking Points:
- U.S. Job Openings this week hit a RECORD high 9.2 million but virtually no one wants to go back to work while they’re making more staying at home.
- The FED hinted at raising rates in 2 ½ years at the end of 2023 and the DOW suffered it’s worst weekly decline since October 2020.
- Gasoline and Groceries have doubled, building supplies TRIPLED and hyperinflation is wreaking havoc on our economy “invisible wealth destruction”
- The Fed’s ULTRA loose monetary policy and Biden’s addition $1.9 Trillion in addition to the has been substantially EXCESSIVE and there’s ANOTHER 2T sitting in CASH on the balance sheets of banks.
- Due to supply chain issues and this MOUNTAIN of FREE MONEY, Rolexes are sold out and Louis Vuitton can’t keep a handbag in store or online … EVERYONE’S spending
- But here’s the conundrum: If the FED doesn’t RAISE rates hyperinflation will destroy wealth and the USD. But if the FED raises rates it will destroy the economy and stock market.
- We are on the cusp of a “Volcker Moment” where Fed Chair Paul Volcker hiked rates to tackle inflation in 1980-1982 resulting in a double dip recession, ONLY this time the GLOBAL DEBT is THREE TIMES HIGHER than it was in the 1970’s and “anti inflationary policy will lead to a CATASTROPHIC depression rather than a sever recession.
- Tell us about your company and who you help individual investors and where may we get more information on Patriot Gold Group?
ABOUT JACK HANNEY…
Jack Hanney has been in the financial markets for 25+ years and is widely heralded as an expert in his field.
Jack was born and raised in Westchester County, NY. Jack subscribed to The Wall Street Journal at the age of 14 and moved to California in his early 20’s to study under Investor’s Business Daily founder William O’Neill.
Jack Hanney went on to be the General Manager and Director of Sales at several algorithmic automated trading companies trading the futures and commodities markets working with Introducing Brokers out of Chicago, Geneva and NYC. Jack was recruited by several tech startups and made a name for himself at Infosearch Media, Virtumundo and The Design People before returning to Finance. Jack passed on Morgan Stanley and other reputable, prestigious Brokerage firms to be a CFP in their Wealth Management Divisions and opted for a position as Senior Executive Trader with MG Private Client Services where he spent 4 years 2010-2014.
Jack Hanney had spent two years as Director of Trading, Executive Vice President of WDM overseeing the Retail Division before cofounding Patriot Gold Group a collective of Industry-Leading Experts bringing their clients Investor Direct Pricing and superior customer service.
Jack has written over half a billion dollars in business and trades maintaining outstanding relationships with his clients at Patriot Gold Group (PGG), where he is a senior partner. Jack resides in Los Angeles, California with his wife Amy and is the proud father of his two daughters, Kate age 13 and Luna age 21 & their two dogs Roxy & Daisy.
CONTACT: To schedule an interview with Jack Hanney, email jerry.specialguests@gmail.com or call Celinda Hawkins at: (432) 349-2736.
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