The Commodity Supercycle Is Back: The Macro Shift That Could Reshape Markets

The Triple Bubble About to Burst: Are We Sitting on a Financial “Time Bomb”? w/ Michael Pento

In this episode of Milk Road Macro, we sit down with veteran macro strategist Michael Pento to unpack his warning about a historic “triple bubble” across equities, real estate, and debt markets, and what it could mean for investors in 2026 and beyond. Pento argues that years of ultra-low interest rates, money printing, and massive government deficits have distorted asset prices across the board, leaving the global economy highly fragile. With affordability collapsing, debt levels surging, and financial conditions tightening, even a small shock could trigger a major market reset.

MACROFEB 24 2026

John Gillen

The Triple Bubble About to Burst: Are We Sitting on a Financial “Time Bomb”? w/ Michael Pento

In this episode of Milk Road Macro, we sit down with veteran macro strategist Michael Pento to unpack his warning about a historic “triple bubble” across equities, real estate, and debt markets, and what it could mean for investors in 2026 and beyond. Pento argues that years of ultra-low interest rates, money printing, and massive government deficits have distorted asset prices across the board, leaving the global economy highly fragile. With affordability collapsing, debt levels surging, and financial conditions tightening, even a small shock could trigger a major market reset.

MACROFEB 24 2026

John Gillen

The 10 Macro Signals That Still Support a Bull Market w/ Ryan Detrick

In this episode of Milk Road Macro, Chief Market Strategist Ryan Detrick explains why the bull market may still be intact despite weakness in tech and risk assets. He breaks down key macro signals including strong market breadth, resilient earnings, stable labor data, massive AI CapEx, firm credit markets, persistent inflation near 3%, and global leadership from industrials, commodities, Europe, and emerging markets. Ryan also discusses Federal Reserve policy, rate cuts, geopolitical risks, volatility, and what could drive stocks higher, or trigger a correction in 2026.

MACROFEB 19 2026

John Gillen

Stage 4 Market Decline: The Phase Where Markets Fall 7x Faster w/ Chris Vermeulen

In this episode of Milk Road Macro, technical analyst Chris Vermeulen lays out the case that markets may be transitioning from late-cycle distribution into a potential financial reset. While the S&P 500 is still technically in an uptrend, momentum is fading, the Nasdaq is showing lower highs and lower lows, and the Magnificent 7 are beginning to roll over. When market leadership weakens, broader indices often follow.

MACROFEB 17 2026

John Gillen

Geopolitics Is Now the Macro Driver: Iran, China & the Trades That Matter in 2026 w/ Matt Gertken

In this episode of Milk Road Macro, we break down why geopolitics, not inflation, not the Fed, not earnings, is becoming the dominant force driving global markets in 2026. Matt Gertken (Chief Geopolitical Strategist at BCA Research) joins us to unpack the rising instability in Iran, the real risk of disruption in the Strait of Hormuz, and what a potential oil shock would mean for equities, and commodities.

MACROFEB 12 2026

John Gillen

Milk Road Macro PRO AMA - Feb 10, 2026

Is This the Start of a New Commodity Supercycle? w/ Clem Chambers

Are we witnessing the beginning of a new commodity supercycle? In today’s episode of Milk Road Macro, Clem Chambers breaks down why gold, silver, platinum, palladium, and copper are moving, and what it signals for the global economy. Gold has been surging, but according to Clem, this isn’t just about inflation or interest rates. It’s about geopolitics. Central banks are buying gold aggressively as global tensions rise, and history shows gold often acts as the “currency of war.” If conflict risk remains elevated, the bid under precious metals may not disappear anytime soon.

MACROFEB 10 2026

John Gillen

Markets Are Sending a Message... And Most Investors Are Missing It w/ John Gillen

In this episode ofMilk Road Macro, John Gillen breaks down why recent macro data suggests we’re not at the end of the cycle, but potentially entering a mid-cycle re-acceleration that most investors are completely overlooking. We dive into what expanding market breadth really means, why the Russell 2000 and small-cap stocks matter more than the Magnificent 7 right now, and how key indicators like the ISM Manufacturing PMI and new orders are reshaping the macro outlook. While sentiment remains deeply negative, the underlying data points to a healthier economy, a broader bull market, and conditions that historically support risk assets.

MACROFEB 7 2026

John Gillen

The Government Is Engineering a Business Cycle Surge Into 2026 w/ Andreas Steno Larsen

In this episode of Milk Road Macro, Andreas Steno Larsen, explains why the macro playbook that worked for the last 15 years is broken, and why markets haven’t fully priced in the new regime we’re entering. We discuss how AI is pressuring the software-as-a-service economy, why private credit may be sitting on hidden risk, and how this is triggering a major rotation from software into hardware, energy, metals, and infrastructure. Andreas also breaks down why the recent ISM surge is not seasonal noise, but the result of a powerful tax rule that is forcing U.S. companies to ramp CapEx this year by design.

MACROFEB 5 2026

John Gillen

The Market Is Risk-On… But Growth Isn’t (Yet) w/ Market Radar

Gold and silver just experienced trillion-dollar swings. The ISM printed its biggest upside surprise in years. Stocks are grinding higher. And yet… the one signal that normally powers real bull markets still hasn’t turned. In this episode of Milk Road Macro, the team from Market Radar breaks down the macro regime that explains why markets feel completely out of sync right now and why most investors are reading the situation wrong.

MACROFEB 3 2026

John Gillen

The Macro Framework for Investing in the Next Decade w/ Mark Yusko

In this episode of Milk Road Macro, we sit down with Mark Yusko to break down how long-term wealth is created, not through predictions or short-term trades, but through a repeatable macro framework focused on innovation, infrastructure, and non-consensus thinking.

MACROJAN 29 2026

John Gillen

The Passive Bid Explained: How Markets Move Now w/ Michael Green

In this episode of Milk Road Macro, Michael Green breaks down the passive bid, the force reshaping modern markets, and explains why price discovery doesn’t work the way most investors think it does anymore. What started as a well-intentioned shift toward index investing has quietly transformed market mechanics, distorted signals, and created a system that rewards flows over fundamentals.

MACROJAN 27 2026

John Gillen

“You Will Own Nothing” Wasn’t a Warning… It Was the Plan w/ Carol Roth

In this episode of Milk Road Macro, we sit down with Carol Roth to break down the uncomfortable reality behind today’s global economic system and why the loss of ownership isn’t accidental. We explore how years of zero interest rate policy, runaway fiscal spending, and financialization have pushed everyday Americans from ownership into permanent rentership. What’s framed as convenience or progress is, in reality, a structural shift driven by policy choices, not market forces.

MACROJAN 22 2026

John Gillen

Your Macro Framework Is Missing the Strongest Signal in the Market w/ Caleb Franzen

In this episode of Milk Road Macro, market strategist Caleb Franzen breaks down why investors feel more confused than ever, even as markets continue to make new all-time highs.Consumer sentiment is near multi-decade lows. Recession fears are everywhere. Yet retail stocks, discretionary stocks, earnings, and market breadth are all signaling strength.

MACROJAN 20 2026

John Gillen