Stansberry Research | It's About to Be 2008 All Over Again @StansberryMedia | Uploaded December 2023 | Updated October 2024, 2 hours ago.
Dan and Corey start by remembering Charlie Munger, reviewing his career and legacy. Plus,
they cover Elon Musk's recent remarks against Disney, the chances of X (formerly known as
Twitter) going bankrupt, and Musk's efforts to bring free speech to the platform. (0:40)
Next, Joel and Rob join the show to discuss the narrative around a soft landing, the rolling-
recession "nonsense," and investors getting lulled into a false sense of confidence and
believing everything is fine in the markets. Joel details the macroeconomic signals that are
flashing globally – from China's failings dragging the world down to hyperinflation and
recession in multiple Latin American countries. Joel explains why he and Rob have recently
made a major change in their forward market outlook. (26:18)
Rob adds that another reason for their bearishness is the current credit environment. Credit
is the lifeblood of the American economy. But now, it's disappearing. And according to Rob,
that will further hurt economic growth. Plus, Joel explains that this same setup happened at
the beginning of the great financial crisis. (34:21)
The conversation then shifts to Fed Chair Jerome Powell's devotion to lowering inflation to
2%, the reality of "structurally higher" inflation, and how high interest rates are leading to
massive investing opportunities in near-term cash-flow companies. (38:37)
Finally, Joel and Rob discuss the bond market and why they find it so attractive today... give
their opinions on "terrifying" business development companies... and analyze the Fed's next
moves in regard to unemployment. (46:18)
Dan and Corey start by remembering Charlie Munger, reviewing his career and legacy. Plus,
they cover Elon Musk's recent remarks against Disney, the chances of X (formerly known as
Twitter) going bankrupt, and Musk's efforts to bring free speech to the platform. (0:40)
Next, Joel and Rob join the show to discuss the narrative around a soft landing, the rolling-
recession "nonsense," and investors getting lulled into a false sense of confidence and
believing everything is fine in the markets. Joel details the macroeconomic signals that are
flashing globally – from China's failings dragging the world down to hyperinflation and
recession in multiple Latin American countries. Joel explains why he and Rob have recently
made a major change in their forward market outlook. (26:18)
Rob adds that another reason for their bearishness is the current credit environment. Credit
is the lifeblood of the American economy. But now, it's disappearing. And according to Rob,
that will further hurt economic growth. Plus, Joel explains that this same setup happened at
the beginning of the great financial crisis. (34:21)
The conversation then shifts to Fed Chair Jerome Powell's devotion to lowering inflation to
2%, the reality of "structurally higher" inflation, and how high interest rates are leading to
massive investing opportunities in near-term cash-flow companies. (38:37)
Finally, Joel and Rob discuss the bond market and why they find it so attractive today... give
their opinions on "terrifying" business development companies... and analyze the Fed's next
moves in regard to unemployment. (46:18)
