The CONVERSATION begins with the markets negative response to reports by Walmart and other large US retailers showing increased belt-tightening by cash-strapped consumers. The episode also examines whether America is in a financial crisis worse than is reported by the US government. While retail giant Walmart has reported strong sales in recent years, more of the spending is being diverted to the basic necessities like food, with more affluent and price-conscious consumers also rushing to Walmart to pick up deals. That is the view of many analysts including DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP, who notes the rising number of upper income shoppers buying groceries at Walmart, a retailer traditionally the turf of lower-income households. "Consumers are stretching their dollars at Walmart, looking for more ways to save," said MAT VAN ALSTYNE, ODEON co-founder and managing partner.

BOVE presents his analysis on the US trade deficit, which hit a record $1 trillion in 2022. How to pick investments in these volatile markets and in a global economy overshadowed by the rise of autocracies and the war in Ukraine, as well as fears of a pending recession? Start with a concept that has a long-term positive outlook, according to BOVE. He also presents the case for bank preferred securities. On the first anniversary of Russia's invasion of Ukraine, the CONVERSATION asks how it could end peacefully for humanity. "Putin is a mass murderer," says BOVE. He is a vicious and crazed mad man, adds JOHN AIDAN BYRNE, noting the need for fearless and strong leaders to stand up to Putin.

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