The Meb Faber Show: “This Is How a Financial Empire Ends (And Where the New One Begins)”
The Meb Faber Show: “This Is How a Financial Empire Ends (And Where the New One Begins)”
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Today we’re joined by Whitney Baker, founder of Totem Macro and one of the sharpest minds in macro investing. Whitney was previously the head of Emerging Markets at Bridgewater Associates and worked at Soros Fund Management under current Treasury Secretary Scott Bessent.
In today’s episode, Whitney discusses the current macroeconomic landscape, emphasizing the end of the ‘buy the dip’ mentality and the unique challenges the U.S. faces as the bubble finally comes to an end. She touches on the challenges and opportunities in emerging markets, the impact of tariffs & AI on global growth dynamics, and ‘The Triple Yasu’ phenomenon. Finally, Whitney addresses the role of gold in investment portfolios, advocating for its inclusion as a hedge against currency debasement and economic uncertainty.
To see links or read the transcript of the episode, visit us at: https://www.themebfabershow.com/episo…
(0:00) Starts
(1:21) Introduction of Whitney Baker
(3:05) Global macro landscape
(10:12) US debt dynamics
(18:26) Market shifts, potential solutions, and foreign investment dynamics
(23:31) AI’s impact on productivity
(30:31) US fiscal policies
(38:29) The “Triple Yasu”
(43:33) Opportunities in foreign and emerging markets
(47:12) Historical debt solutions and modern financial strategies
(53:23) How tariffs help national security
(59:07) Emerging market bonds
(1:06:08) Chinese industrial capacity
(1:18:08) China and India’s financial challenges and opportunities
(1:32:31) Role of gold in portfolios
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20250613
