What happens when the Feds stop handing out free money? The unemployment numbers are at 35+ million and counting, and yet the stock market is still going strong. What happens when all the unemployment benefits end and rent is due? There is going to be a massive financial reckoning for all of this money printing, society is going to change, and you need a strategy to deal with the fallout.
In this episode:
NY Fed Report on Q1 debt [:30]
CARES Act creates conflict between employees and business owners [4:00]
The stock market doesn’t seem to care about any of it [6:00]
When are the jobs going to return? [7:00]
Law firms are hiring bankruptcy attorneys [8:30]
Oil and gas industry is in the red [9:00]
What’s the plan? [10:00]
Option #1 = what’s the plan for herd immunity [12:00]
Option #2 = what’s the plan until a vaccine is developed? [14:00]
Currently there is no plan and the economy is feeling it [16:00]
35+ million unemployed and counting [19:00]
What happens when benefits run out? [22:00]
When will people feel safe enough to resume normal life? [25:30]
Second wave of layoffs is coming [27:00]
When the benefits run out… [28:00]
Consumer debt grows [32:00]
Extend and pretend continues [34:30]
Rent isn’t getting paid. How long will that go on for? [38:30]
Corporate bankruptcies are coming, oil, retail, gyms, and rental cars to start [41:00]
NYTimes predict 40% of small businesses will fail [45:00]
A V-shaped recovery is unlikely [48:30]
The nature of jobs and offices will change [51:00]
The stock market remains irrational [56:30]
It’s time to be conservative with your money [58:30]
Put the cork back in the champagne bottle [1:00:00]
What to expect [1:01:30]
Why having more debt isn’t as bad when inflation occurs [1:06:00]
Why this reckoning is going to be massive and why you need a strategy [1:07:00]
If you’d like to watch on YouTube, check out our video here: