# Predicting Recession

Page: https://stenobird.com/podcast/minor-issues-6016417/predicting-recession
Text version: https://stenobird.com/podcast/minor-issues-6016417/predicting-recession.md
Podcast: [Minor Issues](https://stenobird.com/podcast/minor-issues-6016417)
Published: 2026-05-16T11:42:27+00:00
Episode link: https://mises.org/podcasts/minor-issues/predicting-recession
Audio file: https://dts.podtrac.com/redirect.mp3/cdn.mises.org/2026-05/177_Minor-Issues_Thornton_20260516.mp3
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## Resource

On the latest episode of Minor Issues, Mark Thornton opens with a candid assessment of his own prediction record: what he got right, what he got wrong, and why Austrian economics tells you what must come but not when. He then turns to the current landscape: every major valuation metric is flashing red, market concentration exceeds the level on the cusp of the 1987 crash, deficit spending is at World War II levels, and the Fed is injecting $40 billion a month in new liquidity. Yet Wall Street remains unanimously bullish. The second half features an interview with Kaniki Kojo on gold, fiat currencies, and the Austrian school's growing global influence. 2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating by giving away free copies of Anatomy of the State through May 31. Grab yours today at https://mises.org/issuesfree Register for our upcoming Mises Circle, Why Is the Healthcare System Broken?, June 27 in Windham, New Hampshire: https://mises.org/events/why-healthcare-system-broken-mises-circle-new-hampshire 20% off listener offer on the insulated Minor Issues tumbler and three of Mark's books: https://mises.org/MinorIssuesTumbler . Use coupon code Thornton. Be sure to follow Minor Issues at https://Mises.org/MinorIssues

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## Transcript

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