Why Omicron is a big risk in 2022

Bianco Research LLC President Jim Bianco talks to Yahoo Finance's Jared Blikre about the impact the Omicron variant will have on the economy and DeFi in 2022.

Video Transcript

JIM BIANCO: It's not necessarily a health risk. But what it is, is that anybody who tests positive can't go to work for 10 days. And we've got huge absenteeism, the production of the world.

And that's really coming home in China in a big way, because China is a zero-COVID policy. They lock everybody down and lock you in your house for weeks on end until COVID goes away. Production is going to wane, but our demand for stuff is not. Same demand, less production, higher prices, even more inflation.

So what I'm most worried about, as we go through in traditional, is [? I'm ?] at the top of that list with inflation. But the one that finished on the bottom underscores that idea. If we're not worried about health concerns, I'm not going to stop ordering Amazon boxes. I'm not going to stop ordering stuff that I want.

- I hear you completely.

JIM BIANCO: But they're going to have a harder time fulfilling that.