The key points discussed in the video are:

1. The importance of economic data in determining the direction of the economy, rather than just price action.
2. Concerns about the cost of living crisis and its impact on the economy.
3. The state of the food supply and its implications for the economy.
4. Analysis of leading indicators in the US, including inflation, jobs data, and economic growth.
5. The negative trends in small business data and the housing market.
6. The economic data in Europe and its impact on consumer behavior.
7. The reopening of China's economy and its potential implications.
8. The global risks in 2023, including energy crisis, inflation crisis, food supply problems, cyber attacks, and climate change.
9. The debt crisis in Japan, China, and the US.
10. The impact of disruptions in the global supply chain.
11. The balancing act between falling oil demand and rising consumption of petrochemicals.
12. The need for diversification in global supply chains and the rising costs associated with it.
13. The potential for stagflationary backdrop due to the shift in manufacturing and rising inflation.
14. The recessionary signals in US GDP and Euro models.

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