Jim Bianco
Founder and President of Bianco Research
“I'm on the side that time is not on our side. And I am very concerned about this...we have no forcing mechanism to force a deal, which is why this thing is taking forever.”
“the Houthis closed the Bab El Mandab at the southern point of the Red Sea, and the French and the British went in and they tried to open it and they couldn't. And to this day, it's still not open that these cheap, attritable drones defeated the French and the British Navy. We can't get the Strait of Hormuz open...I only need a hundred of them. Because the average US destroyer, which costs $3 billion, has 96 vertically launched missiles. And even if they're 100%, my last four get through.”
“the market is not there for the Fed to cut rates and it could actually backfire on them...most of the estimates are that the CPI is going to be over 4% when the main numbers come in. If it's already at 4% and you're stimulated, you're okay with 4%. I'm not okay owning your bonds.”
“If you look at the last six years, they were warned that Covid was a big deal and they sold the bottom of the market. They were warned 9% inflation was a big deal and they sold the bottom of the market. They were warned Silicon Valley Bank's failure was a big deal. They sold the bottom of the market. They were warned Liberation Day was a big deal. They sold the bottom of the market. Now they're being warned that the Strait of Hormuz being closed is a big deal. And they're saying, aha, I'm not going to fall for that again.”
Jim Bianco
One-line summary: Institutional macro and fixed-income strategist; bearish on US 'time is on our side' Iran thesis; warns of Fed impossible position under 00 oil-driven CPI above 4%; tracks cheap drone warfare revolution as the reason Hormuz can't be forced open.
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Said
Speaker-attributed claims extracted from diarized sources. Each bullet mirrors one entry in quotes: frontmatter — keep them in sync.
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"I'm on the side that time is not on our side. And I am very concerned about this...we have no forcing mechanism to force a deal, which is why this thing is taking forever." — 2026-05-28-podcast-macro-voices-macrovoices-534-dr-pippa-malmgren-superpower-war (2026-05-28)
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On defense-industrial-base-magazine-depth:
"the Houthis closed the Bab El Mandab at the southern point of the Red Sea, and the French and the British went in and they tried to open it and they couldn't. And to this day, it's still not open that these cheap, attritable drones defeated the French and the British Navy. We can't get the Strait of Hormuz open...I only need a hundred of them. Because the average US destroyer, which costs $3 billion, has 96 vertically launched missiles. And even if they're 100%, my last four get through." — 2026-05-28-podcast-macro-voices-macrovoices-534-dr-pippa-malmgren-superpower-war (2026-05-28)
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On supply-shock-inflation-persistence:
"the market is not there for the Fed to cut rates and it could actually backfire on them...most of the estimates are that the CPI is going to be over 4% when the main numbers come in. If it's already at 4% and you're stimulated, you're okay with 4%. I'm not okay owning your bonds." — 2026-05-28-podcast-macro-voices-macrovoices-534-dr-pippa-malmgren-superpower-war (2026-05-28)
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"If you look at the last six years, they were warned that Covid was a big deal and they sold the bottom of the market. They were warned 9% inflation was a big deal and they sold the bottom of the market. They were warned Silicon Valley Bank's failure was a big deal. They sold the bottom of the market. They were warned Liberation Day was a big deal. They sold the bottom of the market. Now they're being warned that the Strait of Hormuz being closed is a big deal. And they're saying, aha, I'm not going to fall for that again." — 2026-05-28-podcast-macro-voices-macrovoices-534-dr-pippa-malmgren-superpower-war (2026-05-28)
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