While there is a consensus of projected global growth of about 4%, Dr. Peter Warburton sees great challenges for the world economy for 2022-23, believing that such growth will be difficult to come by as 2022 is a critical year of adjustments of large deficits. In this interview with MI2 Partners advisor Harry Melandri, Warburton, director of Economic Perspectives Ltd in London, provides a very somber outlook for the future with rising inflation—despite the Fed’s interest hikes and high volatility, where some assets depreciate. He also discusses how “the state has carried the economy through this difficult period and co-opted the central bank, in this case, the Fed,” which led to “a dominant thread of state-led credit creation.” This insightful interview helps us better understand how we should protect our investments and how we should prepare for an uncertain future. Recorded on December 28, 2021.