A global recession is inevitable due to massive wealth destruction and the cooling of monetary velocity.

“I think like recession now is this inevitable you to jamaa's point you can't have 14 of global wealth wiped out practically overnight and not have that translated into a big recession monetary velocity is going to slow dramatically the money circulating around is you can feel the brakes happening”

The economy is currently entering a recession driven by asset wealth destruction and subsequent corporate belt-tightening.

“at the end of the day if that capital didn't really go in to create value and it comes back out and all that happened was we had this kind of inflationary moment in terms of asset prices and we didn't actually create new jobs and didn't actually stimulate the real productive economy that's where we ”

The current market crash has moved into a state of panic selling, signaling that the economy is heading into a deep recession.

“I mean I think now there's panic selling going on that's not to say that it's all oversold but certainly there are names now that are starting to become screaming buys but nobody has the capital to to buy”