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Tom welcomes back experienced investment professional David Hunter of Contrarian Macro Advisors to the show. David believes this cycle will end in a bust, something more significant than a deep recession but not a drawn-out depression. He anticipated a big run from the March lows and says we are poised for another big run soon into a top. He cautions that historic debt & derivative exposure will magnify market moves in both directions.
Momentum, further stimulus and a V-shaped second half recovery will combine to drive the market to its final top. However, much damage has been done and money alone cannot sustain a recovery. David expects a second phase of the bust in 2021 including a global financial crisis and a huge involuntary debt liquidation cycle.
He gives his expectations for oil, the U.S. dollar, gold, silver and the miners.