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Tuesday Conversation - Brent Johnson of Santiago Capital

CEO, Portfolio Manager
Santiago Capital
112

Following Monday's podcast with Luke Gromen, I thought it would be fun to next visit with our old friend (and fellow Cornhusker), Brent Johnson. For this discussion, Brent and I cover several of the same topics as yesterday while incorporating Brent's unique perspective on the markets.

So for this podcast, Brent and I begin with the same Krugman tweet that Luke and I discussed yesterday:

Repeat after me: debt is money we owe to ourselves. It doesn't make the nation as a whole poorer. https://t.co/yyAkexUV0N

— Paul Krugman (@paulkrugman) May 22, 2020

From there, we discuss:

  • the liquidity-driven necessity of QE∞
  • the impact of an official yuan devaluation
  • global demand for dollars driving its relative value higher
  • whether QE∞ will ultimately be inflationary
  • the possibility of global stagflation
  • and quite a bit in between

Many thanks to Brent for being so generous with his time. I think you'll find this podcast to be extremely interesting and thought-provoking.

TF

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AGXIIKLibero
Jun 2, 2020 - 4:03pm

OMG. POTUS PORN. HOT AT HECK

Talk about being OT. HAHAHAHA.

But seriously, we are at war and Trump's sexual peccadillos are a timely focus. Deflection thy name is Libero.

I know the prez is a bit of a popinjay; a churlish sort, preening and overweening; maybe even a tad of a cad. Someone's liberal hero Clinton has his way with women too and left his DNA on the blue dress. But let's make sure this is an important topic when we are at war with ourselves

Back on topic. While the war rages on in 30 cities, coming to a 'burb near you, silver got smacked and retraced nicely. It was up 2.44% yesterday and looks like it might be down only 1.23%. Not the worst attack against AG I've seen recently.

Sometimes there are decades where nothing happens, sometimes decades happen in weeks. Or days. Or hours. Keep stacking, silver is ridiculously cheap at $18 an ounce.

Don't worry about the flames and plumes of smoke over your cities that are at war with themselves, the DOW is up 267 and algo monkey war cry is

BTFD. Stack like your life depended on it

Oneagleswings
Jun 2, 2020 - 3:53pm

16 gauge

I owned a Marlin Model 90 16 gauge over under I was given by my dad shortly before his passing in 2018. What a special memory. I have always loved the 16 gauge. In the 70s when dad was hunting w me while I was still in high school 16 gauge ammo already had a pretty limited selection of factory loads.
As far as 12 gauge over 20 I think in a home defense situation it's the one you are most comfortable with without recoil fears.
Dad always said it's the shooter not the gun. You only gain confidence with practice and being comfortable shooting enough rounds to be proficient.
870 Rem pump with 3 inch mag 4 buck was my home defense before I lost it in a boating accident. I've seen what that load did to a big male coyote coming at me head on into my mouse squeaks. Suffice to say it was a stopper .

LiberoOskar
Jun 2, 2020 - 3:50pm

Here you go Oskar, full transcript, prez's own words

Warning: the following text includes graphic language

Unknown: "She used to be great, she's still very beautiful."

Trump: "I moved on her actually. You know she was down on Palm Beach. I moved on her, and I failed. I'll admit it. I did try and fuck her, she was married."

Unknown: "That's huge news there."

Trump: "No, no, Nancy. No this was [inaudible] and I moved on her very heavily in fact I took her out furniture shopping. She wanted to get some furniture. I said I'll show you where they have some nice furniture. I moved on her like a bitch. I couldn't get there and she was married. Then all-of-a-sudden I see her, she's now got the big phony tits and everything. She's totally changed her look."

Bush: "Your girl's hot as shit. In the purple."

Multiple voices: "Whoah. Yes. Whoah."

Bush: "Yes. The Donald has scored. Whoah my man."

Trump: "Look at you. You are a pussy."

Bush: "You gotta get the thumbs up."

Trump: "Maybe it's a different one."

Bush: "It better not be the publicist. No, it's, it's her."

Trump: "Yeah that's her with the gold. I better use some Tic Tacs just in case I start kissing her. You know I'm automatically attracted to beautiful... I just start kissing them. It's like a magnet. Just kiss. I don't even wait. And when you're a star they let you do it. You can do anything."

Bush: "Whatever you want."

Trump: "Grab them by the pussy. You can do anything."

Bush: "Yeah those legs. All I can see is the legs."

Trump: "It looks good."

Bush: "Come on shorty."

Trump: "Oh nice legs huh."

Bush: "Get out of the way honey. Oh that's good legs. Go ahead."

Trump: "It's always good if you don't fall out of the bus. Like Ford, Gerald Ford, remember?"

[As Mr Trump attempts to leave the vehicle he struggles with the door]

Bush: "Down below, pull the handle."

[Mr Trump exits the bus and greets actress Arianne Zucker]

Trump: "Hello, how are you? Hi."

Zucker: "Hi Mr Trump. How are you?"

Trump: "Nice seeing you. Terrific. Terrific. You know Billy Bush?"

Bush: "Hello nice to see you. How are you doing Arianne?"

Zucker: "I'm doing very well thank you. [Addressing Trump] Are you ready to be a soap star?"

Trump: "We're ready. Let's go. Make me a soap star."

Bush: "How about a little hug for the Donald, he's just off the bus?"

Zucker: "Would you like a little hug darling?"

Trump: "Absolutely. Melania said this was okay."

Bush: "How about a little hug for the Bushy, I just got off the bus? Here we go, here we go. Excellent."

[Mr Bush gesticulates towards Ms Zucker as he turns to Mr Trump]

Bush: "Well you've got a good co-star here."

Trump: "Good. After you. Come on Billy, don't be shy."

Bush: "Soon as a beautiful woman shows up he just, he takes off. This always happens."

Trump: "Get over here, Billy."

Zucker: "I'm sorry, come here."

Bush: "Let the little guy in there. Come on."

Zucker: "Yeah, let the little guy in. How you feel now, better? I should actually be in the middle."

Bush: "It's hard to walk next to a guy like this."

Zucker: "Wait. Hold on."

[Ms Zucker changes position and walks between the two men]

Bush: "Yeah you get in the middle. There we go."

Trump: "Good. That's better."

Zucker: "This is much better."

Trump: "That's better."

Bush: "Now if you had to choose, honestly, between one of us. Me or the Donald, who would it be?"

Trump: "I don't know, that's tough competition."

Zucker: "That's some pressure right there."

Bush: "Seriously, you had to take one of us as a date."

Zucker: "I have to take the Fifth [Amendment of the US Constitution] on that one."

Bush: "Really?"

Zucker: "Yep. I'll take both."

[They reach the end of the corridor]

Trump: "Which way?"

Zucker: "Make a right. Here we go."

Bush: "Here he goes. I'm gonna leave you here. Give me my microphone."

Trump: "Okay. Okay. Oh, you're finished?"

Bush: "You're my man. Yeah."

Trump: "Oh. Good."

https://www.bbc.com/news/election-us-2016-37595321

Let's not go to the actual lawsuits by women as well.

https://www.businessinsider.com/women-accused-trump-sexual-misconduct-li...

OskarLibero
Jun 2, 2020 - 3:21pm

What you're saying is absurd.

What you're saying is absurd. The conversation explicitly mentioned the women's consent. Assault is nowhere near even being suggested.

GoldHermit
Jun 2, 2020 - 3:06pm

The bullet factory?

Well...

1. They're mainly manufacturing blanks.

2. The live rounds they manage to produce are being used to shoot themselves in the foot.

H8Fiat
Jun 2, 2020 - 3:00pm

Shotgun gauge

12 or 20, just remember what kind of ammo is most plentiful. Otherwise both are just a club.

H8

RickshawETFAGXIIK
Jun 2, 2020 - 2:38pm

I second AGXIIK

. . . on the choice of a Mossberg 20 ga. with 18" barrel. Light, quick, and suitable for everyone in the house (to use). It has 62.5% of the stopping power of a 12 ga., but only 55% of the recoil. It's just as efficient (in stopping the bad guys) as a 12 ga. -- if you bring it on target, which the lighter weight and size encourages. One trigger pull, and you deliver 20 pellets of #3 buckshot -- approx. 0.25 caliber. Even if only half the pellets hit their intended target, that's hitting the bad guy ten times with 0.25 caliber rounds. He ain't goin' anywhere (except the morgue) . . .

Ben StackinOskar
Jun 2, 2020 - 2:32pm

Just try and get there

before the Hildebeast!! LOL

"we came, we saw.... he died. Oh, and we stole the gold."

eastofwest
Jun 2, 2020 - 2:16pm

FNV and NG ...

Have been sector leaders for a while ... The weakness in those two today forecasts more correction for the mining sector ... IMO ...

LiberoLibero
Jun 2, 2020 - 2:16pm

Ok Last one unless I am asked a question

Sasse Slams Clearing of Protesters for Trump’s Church Photo Opportunity

"Nebraska Republican senator Ben Sasse issued a statement on Tuesday morning criticizing President Trump’s visit to St. John’s Church Monday night as a “photo op that treats the Word of God as a political prop.”

“There is no right to riot, no right to destroy others’ property, and no right to throw rocks at police. But there is a fundamental — a Constitutional — right to protest, and I’m against clearing out a peaceful protest for a photo op that treats the Word of God as a political prop,” Sasse said. “Every public servant in America should be lowering the temperature and that means saying two basic truths over and over: (1) police injustice — like the evil murder of George Floyd — is repugnant and merits peaceful protest aimed at change; (2) riots are abhorrent acts of violence that hurt the innocent. Say both things loudly and repeatedly, as Americans work to end the violence and injustice.”

Protesters were cleared out about 30 to 45 minutes before the city’s curfew took effect."

https://www.nationalreview.com/corner/sasse-slams-clearing-of-protesters...

I guess Sasse is not a republican kissass even though he has ass in his name.

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