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]

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