On today's episode of "On the Margin", Anonymous analyst Mr Blonde joins the show for a discussion on the cyclical forces driving markets in 2022. We discuss the increasing recession signals and how they will effect earnings for the second half of 2022. With a rising dollar, 9.1% inflation, an increasingly hawkish Fed and the end of "peak liquidity", just how will all these forces effect equity markets throughout 2022? To find out, you'll have to tune! -- Follow Mr. Blonde: https://twitter.com/MrBlonde_macro Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/Blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Referenced In The Show: Housing IS the Business Cycle: https://www.nber.org/papers/w13428  The Nightmare Scenario For Central Banks: https://blogs.tslombard.com/the-nightmare-scenario-for-central-banks?hss_channel=tw-510529116 Current State of the Housing Market: https://calculatedrisk.substack.com/p/current-state-of-the-housing-market-3f2 -- Listen to this episode on Apple or Spotify. Apple: https://tinyurl.com/mry8y4k3 Spotify: https://tinyurl.com/3vnnkrkw -- Timestamps: (00:00) Introduction (00:45) Rising Risk Of Recession (02:41) Heading For An Earnings Recession (04:09) We Entered 2022 With Peak Liquidity, Peak Valuations & Peak Earnings, What Next? (09:45) How Energy Has Impacted Earnings (18:08) What Is Happening In Credit? (22:52) The Nightmare Scenario For Central Banks (31:01) Housing IS The Business Cycle (37:19) Final Thoughts -- Disclaimer: Nothing discussed on On The Margin 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.