It's About to Be 2008 All Over Again

Stansberry Investor Hour

Stansberry Research

America, How, To, Crash, Money, Learn, Stansberry, Income, Research, Debt, Stocks, Porter, Business, Realestate, Banking, Investment, American, Investing, Invest, Howtosave, Sjuggerud, Ferris, Eifrig, Jubilee, Buck, Sexton, Market, Bonds, Churchouse, Savings, Options, Lashmet

4.4 • 677 Ratings

🗓️ 4 December 2023

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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)

Transcript

Click on a timestamp to play from that location

0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Ferris. I'm the editor of Extreme Value and The Ferris Report, both published by Stansberry Research. And I'm Corey McLaughlin, editor of the Stansberry Daily Digest. Today we interviewed Joel Litman and Rob Spivey of our corporate affiliate altimetry. And today, Corey and I will talk about two, count them two, famous billionaires,
0:24.3	Charlie Munger and Elon Musk.
0:26.5	And remember, if you want to ask us a question or tell us what's on your mind,
0:29.8	email us at Feedback at InvestorHour.com.
0:32.8	That and more right now on the Stansberry Investor Hour.
0:40.9	Together. spend more right now on the Stansberry Investor Hour. Two guys in the news.
0:43.7	Charlie Munger, let's talk about him first.
0:46.6	Of course, Charlie died on November the 28th at the age of 99.
0:51.3	He would have turned 100 on January the 1st and of course he was the vice chairman of
0:57.5	Berkshire Hathaway Warren Buffett's long time partner for decades and decades and generally
1:05.1	acknowledged as a very wise person I know I'll miss him I did you ever go to like a Westco meeting or a Berkshire
1:13.5	Hathaway meeting? No, I did not have the pleasure of going to either one of those. But you've,
1:20.1	you told me separately that you were once in the room with Munger. Well, you know, just Munger and I
1:26.4	and, you know, a thousand other people okay at a
1:28.9	west go meeting yeah the only time i've ever been in the room with charlie munger when um like
1:34.8	warren buff it wasn't there and it wasn't you know 50 000 or whatever it is now but it was a much
1:40.4	smaller crowd and i remember this was years ago this was at least 10 maybe 15 years ago
1:47.0	it was well before they bought Westco and all I remember was something that I thought was really dumb
1:54.0	and Munger was saying something like um we should carpet the country with solar panels and the economy could sure use the stimulus or
2:03.0	something like that and I thought whoa does it has this guy ever read an economics book is he this
2:07.9	dumb and so I because I didn't really know a lot about him at that time I know a bit about Warren
2:13.0	Buffett nothing about Charlie Munger and I thought oh god am I going to sit here and listen to this and I
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stansberry Research, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stansberry Research and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.