The global economy is heated up specifically after the free money injected by the governments during the pandemic outbreak. That free money has popped up the prices of commodities, assets and everything traded in the economy. The Russia-Uterine War has mad the situation worse. Consequently, the over-heated global economy is on the verge of a recession. US reported the 40 years highest inflation. And to counter the surging inflation Fed has announced a 75-basis point interest rate hikes. Now the international institutions are ringing the alarms of economic slowdown. IMF also cut down the global growth outlook again. On these concerns and fears Chamath Palihapitiya appeared in All-In-Podcast with David Sachs. Chamath is of the view that this is the beginning of what we were warning before, and after the Fed’s rates hikes if anybody thinks that the economic situation would be normal in days or weeks or even in next 6 months, that is not true. He thinks that bubbly asset price would calm down to their actual level in next 18 to 36 months. Chamath has also criticized the modern monetary theory where some of the economists think that the they would keep the economy smooth by printing and injecting the money into the economy. And they haven’t seen the result of money printing during the pandemic outbreak then they are ignoring the reality intentionally. David Sachs agreed with Chamath’s point of view that the worst is not going to end soon rather it will take years to get it normalized. David pointed out the housing prices which have surpassed the historic highs and are making the economic situation worse.
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