Thoughtful Money with Adam Taggart Increasingly Strapped Consumers Are Tapping Out | David Hay
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Sep 7, 2025 In this discussion, David Hay, a veteran investor and chief investment officer of Evergreen Govcall, shares insights from his Haymaker sub stack. He examines troubling recession indicators and a cooling housing market. Hay highlights the effects of higher bond yields and persistent inflation on consumer behavior. The conversation spotlights the promising outlook for commodities, especially gold and silver. With rising unemployment shaking the labor market, David navigates the complexities of current economic trends and investment strategies, making it a must-listen!
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Monitor Inventory Growth As Price Trigger
- Expect existing-inventory increases to pressure prices; monitor markets like Texas and Florida leading the change.
- Position allocations should consider housing downside risk if inventory continues to rise.
Excess Global Liquidity Fuels Risk Appetite
- Global liquidity expansion has driven frothy risk markets and tight credit spreads.
- Hay notes global money supply growth outpaced the U.S., supporting overseas market outperformance this year.
Stablecoins Could Fuel The Next Bitcoin Leg
- Stablecoins could become a fiscal and market transmission channel that amplifies flows into BTC.
- Hay highlights a potential multiplier from stablecoin adoption that could juice Bitcoin if large sums shift from eurodollars or bank deposits.
