Nobody really knows what the stock market is going to do in the next 12 months. And so a lot of people

try to control it and time the market and things like that. And you just, it's the wrong side of

the balance sheet to try to control. And so you have to kind of focus on your liabilities.

Welcome to the Stay Wealthy podcast. I'm your host Taylor Taylor Schulte, and today I'm joined by Colin Roche.

Colin has a wildly successful financial blog called Pragmatic Capitalism, and he's the owner of Orkham Asset Management.

He's best known for his work on monetary economics, and he has a really unique perspective on the financial markets.

I asked him to join me today to share his

take on what's going on in the markets today, where we might be headed, what investors can do in

response, and the impacts of a $2 trillion stimulus package. I hit record and I told him not to

hold back today. You may have to listen to this one twice.

For all the links and resources, head over to you staywealthy.com forward slash 69.

This is probably the most interesting, hopefully the most interesting thing we ever

experience. I made a joke the other day that

people say, may you live in interesting times? And I think that's totally wrong. I actually really

enjoyed the boring times of the long, boring bull market we were going through. So, but it's

interesting in a financial sense, because you have this sudden stop in the economy. And most recessions are

an exogenous shock to some degree in that some sort of event causes the economy to slow down

to some degree. So in 2001, 2002, you basically had way overpriced tech firms that had kind of been stimulated

to the point where they had juiced the economy too much. And when the air kind of came out

of the NASDAQ bubble, you had this big price discrepancy that had to adjust. And it took a long

time for that to kind of unfold. And the economy went through a recession.

And you had a kind of standard corporate style recession, two or three years to slow down.

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