To get $1,000 off The pH report and receive a free sample report, email normal.com">phodges@new-normal.com or jack@blockworks.co, or visit normal.com/the-ph-report-overview/">https://new-normal.com/the-ph-report-overview/. Paul Hodges, author of The pH Report and chairman of New Normal Consulting, returns to Forward Guidance to share the grim tidings from the chemicals industry, whose troubles Hodges argues are indicating that consumer demand will slow rapidly around the globe. After reviewing how and why the chemicals industry is a bellwether for the global economy, Hodges tells Jack Farley how the collapse in chemical prices is a harbinger for a severe global recession. Unrelenting high energy prices, which are a key input to chemical production, are making the chemical refining business even more challenging. Hodges and Farley also discuss the future of inflation and how it is affected by central banks, geopolitics, and demographics. Disclosure: The pH Report is a research partner of Forward Guidance. Blockworks receives a share of proceeds for each conversion to The pH Report. For any questions, email normal.com">phodges@new-normal.com or jack@blockworks.co. -- Paul Hodges on Twitter https://twitter.com/paulhodges1 Follow Jack Farley on Twitter https://rb.gy/uesguv Follow Forward Guidance on Twitter https://rb.gy/cy0dki Follow Blockworks on Twitter https://rb.gy/igyzsj -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos Find out more about the Blockworks video editor role here: https://blockworks.co/careers/ -- Timestamps: (00:00) Intro (01:51) Chemicals Market Is Indicating The Recession Will Be Deep (14:03) The Mood Is Grim" In The Chemicals Business (19:21) Demographics Are Not Helping! (23:25) The Yield Curve Is Not The Be-All End-All (32:35) Chemical Prices Are Collapsing (40:04) Has Inflation Peaked? (44:44) In A Recession, Earnings Go Down (46:19) The Fed Put Is No More (52:51) A Food Crisis Is Brewing (55:46) Oil and Natural Gas (01:03:31) How Will Europe Handle This Winter? (01:11:17) There Is Considerable Downside Risk" (01:14:42) Discount To pH Report, Paul Hodges' Research Service -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.