Gary Gordon isn't buying assurances from the FOMC that the recent string of interest rate cuts were nothing more than a "mid-cycle adjustment". Gary has already seen this movie before - notably in 2000 and 2008. He continues to believe that the end of the current economic expansion is closer than investors realize. He joins the latest episode of Let's Talk ETFs to offer support for his economic outlook - and a behind the scenes look at how he's carefully positioning clients in this environment.Topics covered:2:30 - Continuing to doubt the Fed's narrative around the latest rate cuts being a "mid-cycle adjustment": This is how every economic expansion ends7:00 - What will lead to reduced consumer spending: The inevitable erosion of "The Wealth Effect"12:00 - The markets are very excited about very mediocre economic data and corporate earnings: Is it a good time to take some risk off the table?15:45 - Now that the yield curve has steepened, is the risk of a recession in the next year off the table?18:30 - 10-year Treasuries are likely to outperform stocks between now and the election (IEF) (TLT) 21:30 - REITs and dividend growers for 'relatively' safe income? (VNQ) (USRT) (SDY) (NOBL) 23:30 - Low vol and value strategies (SPLV) (USMV) (VTV) (XLU) 26:30 - Gold as a diversifier? (GLD) (IAU) (GLDM) (UUP) 31:30 - A football team trying to make its way out of a long-term recession: The NY GiantsLearn more about your ad choices. Visit megaphone.fm/adchoices