# Markets Are Too Optimistic: They’re Ignoring the Risks That Matter | Chris Irons & Michelle Makori

Page: https://stenobird.com/podcast/the-real-story-with-michelle-makori-7658633/markets-are-too-optimistic-they-re-ignoring-the-risks-that-matter-chris-irons-michelle-makori
Text version: https://stenobird.com/podcast/the-real-story-with-michelle-makori-7658633/markets-are-too-optimistic-they-re-ignoring-the-risks-that-matter-chris-irons-michelle-makori.md
Podcast: [The Real Story with Michelle Makori](https://stenobird.com/podcast/the-real-story-with-michelle-makori-7658633)
Published: 2026-04-17T21:50:55+00:00
Episode link: https://podcasters.spotify.com/pod/show/the-good-podcast-co6/episodes/Markets-Are-Too-Optimistic-Theyre-Ignoring-the-Risks-That-Matter--Chris-Irons--Michelle-Makori-e3i2tcc
Audio file: https://anchor.fm/s/10ddc838c/podcast/play/118633292/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-3-17%2F422306260-44100-2-9387f012be637.mp3
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Duration seconds: 4863

## Resource

Michelle Makori, President & Editor-in-Chief, Miles Franklin Media, sits down with Christopher Irons, Author of QTR’s Fringe Finance Substack, to break down why today’s market may be repeating the same dangerous patterns that led to the 2008 financial crisis. As stocks push to all-time highs, Irons warns that beneath the surface, serious cracks are forming — from private credit stress to rising delinquencies and hidden leverage across the system. He explains why the market may be “pricing perfection,” why the next shock could come from an unpredictable “black swan,” and why the real risks are building in areas most investors aren’t watching. Irons also shares his outlook on gold, Bitcoin, and where he sees opportunity in a system increasingly driven by liquidity, intervention, and growing inequality. In this episode of The Real Story with Michelle Makori: - Why this market setup looks like 2008 again - The private credit risks no one is talking about - “Endless black swans” and unpredictable market shocks - The Fed, liquidity, and what happens when the system cracks - Gold vs. Bitcoin: where Irons is placing his bets - Sectors to avoid and where he sees opportunity Follow Michelle Makori on X: https://x.com/MichelleMakori Follow Miles Franklin Media on X: https://x.com/MilesFranklinCo Follow Chris Irons aka Quoth the Raven on X: https://x.com/QTRResearch You can sign up for our newsletter here: https://milesfranklin.com/sign-up/ Special offer for our viewers to Quoth the Raven’s Substack: 50% off all annual subscriptions to QTR’s Fringe Finance Substack: https://quoththeraven.substack.com/subscribe?coupon=d8097c43 👍 Like, 🔔 Subscribe, and Stay Informed Join Miles Franklin Media for expert interviews, market insights, and real-time coverage of gold, silver, Bitcoin,…

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