“We Have Never Seen This in Economic History,” Kevin O’Leary

On today’s episode, Daniela Cambone speaks with Kevin O’Leary, widely known as "Mr. Wonderful," about inflation, Fed Chairman Jerome Powell, bitcoin, gold, and more. O’Leary says we haven’t hit peak inflation and the fact that we have full employment with the second quarter of gross domestic product shrinking “has never happened before.” “It’s very hard to call this a recession,” he explains and claims Powell is “doing a really good job” because “he’s trying to stay flexible” and figure out where the economy is headed. O’Leary goes on to say that bitcoin and other cryptocurrencies need regulations and he is confident that something is going to happen soon. When asked about gold, O’Leary said he is not very fond of the precious metal and says it is “not doing what it should be if you’re really a believer of hyperinflation.”

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Chapters:

00:00 When will we hit peak inflation?
3:37 Are we in a recession?
5:59 What grade would you give Powell?
7:17 That status of bitcoin
9:50 Kevin’s strategy on crypto portfolio allocation
11:32 The path for the U.S. dollar
13:02 Gold’s hedging function
14:08 Has the housing market topped?
15:29 Luxury watches market