03-24-20: Real Estate Billionaire's Opinion: The U.S. Commercial-Mortgage Market Is On The 'Brink Of Collapse'
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 25 March 2020
⏱️ 48 minutes
🧾️ Download transcript
Summary
If banks and the government don’t take prompt action to keep borrowers from defaulting, a “domino effect” of catastrophic economic consequences could occur.
Today's Stocks & Topics: Is this The Bottom of the Market?, China Economy, Bonds, 401(k) Rollover, MKC - McCormick & Co. Inc., TNXP - Tonix Pharmaceuticals Holding Corp., Balance Sheet, BAC - Bank of America Corp., UTX - United Technologies Corp., TXRH - Texas Roadhouse Inc., Debt, VGHCX - Vanguard Health Care Fund Investor.
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| 0:00.0 | This podcast is produced by KPP Financial, Steve Peasley President, |
| 0:10.3 | KPP Financial, Independent thinking, shared success. |
| 0:15.0 | And now today's podcast. |
| 0:17.0 | Good afternoon everybody and welcome to invest in |
| 0:25.0 | it is Tuesday March 24th 2020 and at this point I bet you most of you are getting |
| 0:30.4 | pretty tired of talking about and hearing about the coronavirus. |
| 0:34.3 | Unfortunately, I don't think it's going to go away anytime soon. |
| 0:37.4 | I mean, it is affecting our day-to-day lives pretty dramatically at this point. And I think it's even if we start next week |
| 0:46.1 | starting to get back to work, I think it's going to be a slow, slow process. I don't |
| 0:52.1 | think it's going to be like a switch. I don't think that's |
| 0:56.0 | going to happen. Anyways, but this week we will reach the end of the first quarter of |
| 1:01.7 | 2020 and I'm pretty sure we're going to see some |
| 1:06.3 | damage to the economy. It won't be nearly as bad as next quarter okay because this happened at the last month of this year and it didn't |
| 1:17.3 | shut down the economy until last week or two. |
| 1:20.8 | So, you know, it's going to have an effect, but it's not going to be as dire as next quarter. |
| 1:27.0 | And of course, the market has fallen more than 30%, 35% or so as its peak, |
| 1:32.0 | since it's high in February. |
| 1:35.0 | It's so funny, the high was in February. |
| 1:36.8 | Here we are, just 24 days later, 30%, its top of its peak. That's a pretty dramatic fall. I mean that's pretty |
| 1:49.5 | starkly unusual. I mean you have to go way back. I mean you did have to go way back. I mean, you did have that 20% fall in one day in, you know, October |
| 1:57.0 | 1987, but I think this is pretty darn dramatic and no one knows when the virus |
| 2:04.8 | crisis will end exactly if we need to reopen the economy that's certain if the |
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