Ramaswamy and Carlson spoke for about 45 minutes and touched on a variety of topics, ranging from foreign policy – specifically Russia, Ukraine, and China – to domestic issues, including the economy, Hunter Biden’s legal woes, and the September 11, 2001, terrorist attacks:
Ep. 17 Vivek Ramaswamy is the youngest Republican presidential candidate ever. He’s worth listening to. pic.twitter.com/9wGqptHdto
— Tucker Carlson (@TuckerCarlson) August 17, 2023
Around 12 minutes into the conversation, Carlson asked the 37-year-old entrepreneur, who is the youngest GOP presidential candidate in history, for his prognosis on the economy and if he is “concerned about … a real economic reset in the next year?”
Ramaswamy gave a grim forecast, saying he is “quite concerned,” and pointed to a “deeply inverted yield curve” in his explanation:
I think that 2024 is going to be a year where – it’s not going to take a lot of guts for me to make this prediction because I’ll tell you what’s easy to make – we’re on the cusp of a major economic downturn next year. We live under conditions of a deeply inverted yield curve. … It’s basically what you would expect in the long run. Long-run interest rates on long-run bonds are higher compared to interest rates on short-run bonds because there would be a higher risk of being repaid back. That’s how things are supposed to work.
There are a wide range of factors that can occasionally cause that to tilt in the other direction. We’re in one of those conditions right now, where the interest rates on short-term bonds are significantly higher than they are on long-run bonds, and every time that’s happened in the last 40 years, that has predicted a recession that followed in the year or so that came later. And there are lots of complicated reasons for why, and economists can debate it, but what’s not debatable is that that’s exactly what happens. That’s where we are now, which is why we’re, I think, in the calm before the storm.
While President Joe Biden has touted “Bidenomics” and his low unemployment numbers, the surging candidate says that “misses the point” considering “there are twice as many jobs open as there are people looking for work.” He added that, in his view, “people have stopped looking for work” – a sentiment he expressed in February when Breitbart News followed him on his first day on the campaign trail in New Hampshire. At the time, he said, “It becomes a habit” after one is accustomed to not working and loses the sense of “purpose” work generates…Source – Read More!
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