Jamie dimon says the economy is on the  verge of a recession and the stock  market could fall another easy 20 from  here we also have Jim Cramer talking  about how investors should raise cash  ahead of a Down year  and we have the IMF warning worst is yet  to come for World economy  the market is in such a bad place and so  many people are just leaving the market  or are selling are doing everything that  we've been taught not to do but are  feeling like they're stuck in this place  where they have to to conserve Capital  they have to sell they have to stop  buying  I want to talk to you today about these  different articles and tell you what I'm  doing at a time like this because it is  different from what we're seeing online  now I do want to apologize my voice  sounds a little bit weird today I think  I might have caught something in  Nashville or just maybe used my voice a  little bit too much uh during some of  those live music sessions but uh we're  gonna get through it here I do want to  say too there is a link underneath the  video to MooMoo where you can get up to  15 free stocks thousands of dollars of  free money and it does help me out too  so it's a great place to get some free  money start by depositing a hundred  dollars and you can deposit more if you  want more free stocks now the 10-year  treasury is up to nearly 3.9 percent was  nearly four percent earlier today which  was causing the market to drop pretty  heavily earlier in the day and this  isn't the end of the day yet but I have  to make this video now so who knows how  the day is going to end up but we have  the 30-year fixed rate mortgage  7.33 for someone with  740 credit score it was up at 7.4  percent earlier today and if you drop  down a little bit you can see up to an  eight percent mortgage rate which is  insane this is really really high and  it's causing a lot of people to probably  rightfully point out that the market  probably will collapse just because  people can't pay for these kinds of home  prices with these high mortgage rates  which is great for these kinds of cash  buyers if you're someone that can buy a  house in cash or even if you assume that  the fed's going to lower rates at some  point if you can make the numbers work  now where cash flows you can probably  refinance down the road the dxy also was  pumping up earlier today nearly 114 now  down to 112.5 it will be interesting to  see with earnings coming out here over  the next few weeks what people make or  what these different companies make  because of constant currency a lot of  these global companies will lose money  because of the fact that the dollars  High compared to to Every Other Nation  and we denominate in in US dollars so a  lot of these other nations are falling  to the US dollar and it will definitely  affect the earnings now let's get to  some of the more more interesting things  first of all the bank of England forced  to buy inflation linked bonds so we had  heard last week that bank of England was  forced to buy bonds basically stopping  an economic collapse in their pension  system now they're forced to buy even  more with these inflation link bonds now  this is obviously another sign that the  global economy is kind of collapsing and  crumbling around the U.S and in the US I  suppose too but this is a really tough  time and they're forced to continue to  go out and put more money into the  system so it will be interesting to see  what the US does if they continue to  make it worse for all these other  countries and just try to prop up the us  or if they do get a little bit less  aggressive in these rate hikes now Jim  Cramer just said investors should raise  cash ahead of a Down ear this might be a  good thing that he's saying this because  there's a running joke that you should  always do the opposite of what Jim  Cramer does now that's just a joke but  it has been shown to be right all the  time because he does Echo investors  feelings and oftentimes investors  feelings are the opposite of what they  should actually be doing right being  really greedy when markets are going up  being really fearful when markets are  down now I don't believe this is a great  idea what I've been doing all year is  just  dollar cost averaging and I talked about  at the beginning of the year I had a  significant amount of cash sitting  around and how I was deploying it but I  wasn't going to go buy the dips super  aggressively I was just going to  continue to dollar cost average  throughout the year and so far that  hasn't been horrible I mean yes the  Market's down but I am getting lower and  lower prices and I think what's  important is typically we see the market  bottoms before we actually see the  economy bottom stocks I've usually  bought them about six months before the  economy has bottomed and as much as 10  months before the economic decline is  over it's coming from Forbes the reason  for this is people try to price this in  early they don't want to miss out on the  upside so we try to buy in before we've  seen the worst of everything  so right now we only see bad things  ahead this could easily change right he  just says again what people are thinking  essentially a lot of the time uh he very  rarely takes a contrarian stance so when  you see nothing but bad in front of you  that means the market has priced that in  typically and they haven't priced in  much good news so I wouldn't be raising  cash necessarily I think there's  definitely a chance that we could fall  further but I wouldn't be going out and  selling assets at these prices even if I  did think that we could fall further I'd  be working my tail off to make more  money uh on the other side now I realize  not everyone can do that but that's  where a lot of this comes down to  preparation now Jamie dimon also says  that the economy is on the verge of a  recession and the stock market could  fall another easy 20 from here now  he talks about why this is in this  interview but a couple different things  to pay attention to first of all he says  that it could fall another easy 20 right  of course we could fall another 20 we  could fall 50 we could fall 80 percent  what are the chances of that though  right what are the chances that we're  going to fall 20 well it's possible but  yeah it's where you have to pay  attention to the wording he says it  could fall another easy 20 percent  he's not saying that's likely and while  he is a big person in the financial  industry a big pundit the fact is that  he is not the be-all and end-all he says  in this interview he doesn't know where  markets are going to bottom  but they could fall more now I have to  say he does have some kind of thing to  gain from saying a statement like this  right their investment revenues I'm sure  are down over the last couple years  right they have less IPOs uh less specs  less people investing with them I'm sure  as well making less money so saying that  you could fall another 20 keeps people  interested they they look towards him  for guidance and if he's saying we could  fall another 20 percent and then they  sell and then they buy back in and they  do more activity that could benefit  their trading just something to pay  attention to right it keeps people  wanting to keep their money with him  because he's got some kind of inside  knowledge if we do fall a little bit  further then you could say hey we could  easily go up another 20 after the market  starts to turn around and then people  think think he's a genius or something  like that I could always be wrong right  maybe he's not trying to do this or  anything but I think that just saying  that the market could fall another 20 is  pretty obvious  and then like I said earlier IMF one's  worst is yet to come for World economy  they lowered their growth outlook for  2023 and suggested interest rate hikes  could spur a harsh Global recession the  international monetary fund said on  Tuesday that the world economy was  headed for Stormy Waters as it downgrade  Global growth projections for the year  so they lowered them pretty  significantly from about 3.2 percent to  2.7 percent this is for next year and at  the beginning of the year they said that  they expected 4.4 percent growth in 2022  and 3.8 percent in 2023 so they continue  to lower them I don't think this really  holds much value I mean this is kind of  like the FED saying that that inflation  is transitory them saying yeah we're  going to grow four percent or 3.8  percent now 3.2 percent now 2.7 percent  right of course the Market's going to  price this in but I don't think it  really affects us as investors uh  because I don't think they really know  what they're talking about much more  than any of us right  it's hard to tell where the economy is  going to go and what all these different  puzzle pieces are going to do a year  down the line we don't know what's going  to happen so I think right now my focus  is on continuing to dollar cost to  average now I will say I'm not just  buying anything blindly and this is just  an example with fubotv I haven't looked  at fubo's business that in depth  recently but these are the kinds of  stocks that I don't want to buy right  now for a couple different reasons if  you look and we'll talk about crypto in  a second right their revenue is  increasing but then they had a down  quarter and maybe this is just one down  quarter in Revenue maybe it will  continue you don't want to be in a  Growth Company though when it starts to  drop off and more importantly more  predictably these kinds of companies  have to continue to sell shares or  dilute shareholders you can see that  they they grew share count a significant  amount I mean we're talking about what  28 million shares out of 150 7 so they  diluted 15 or something like that in a  quarter they have negative cash flow  they have decreasing cash while they're  increasing debt so that's a double  whammy when debt is going up and the  share count is going up these are the  companies I don't want to buy right  because they're putting they're they're  not in a great financial situation and  they're putting you at a higher and  higher risk of losing all your money  because of some kind of bankruptcy but  even even if they don't go bankrupt they  are putting themselves in a worse and  worse situation moving forward right  with raising debt costs and even if debt  costs weren't Rising  um like percentage-wise right they're  gonna have to pay higher and higher  amounts of debt you're making less and  less if they ever become profitable  even if we get through this recession  the fact is that they're going to be in  a tough spot compared to a company let's  say like  um let's say Google right Google is  still in a tough position with your ad  business but their revenue is still  increasing each year their ebitda is  still high they still have cash flows  they're still buying back shares they  still have a very high return on Capital  employed they still have a great cash  position so even a company like this  that maybe isn't growing as quickly as  they were before not even close to as  quickly as they were before they're  still going to be fine once we get out  of this and once the economy turns  around  while their price is going down and it's  probably for good reason the fact is  they're still going to be fine after we  come out of this kind of recession now  if you're looking at something like  crypto I think crypto still worth dollar  cost everything into now I'm sticking  with Bitcoin specifically right now as  I've said all year round but take a look  at what would have happened if you had  started dollar cost after five years ago  right you'd be up 300 now maybe you're  saying that's cherry picking let's go  three years back okay you'd be up 134  what if you went two years back a lot of  people think oh well if you went two  years back start buying in 2020 uh you  would be down now you'd still be up 13  how about one year  and a lot of people will be surprised by  this yes  seven percent down only seven percent if  you had started buying near the peak of  the market last year seven percent down  and maybe you've heard that's because  you would have been buying at some of  the best times but privates just because  you're not buying On Emotion right you  would have been buying at bad times here  uh back in June you have been buying at  really good times because you would have  been buying actually lower than we are  now but the fact is if you don't just  throw in a lump sum right up front but  you just slowly down across the average  you're gonna do fine even if you look  six months back  you'll be up so I'm gonna continue to  dollar cost average in Bitcoin try not  to be emotional try to invest similar  amounts or the same amount for a  consistent amount of time and the fact  is Bitcoin has actually been pretty  non-volatile when you compare this to  the treasury markets right treasury  markets are going up pretty  significantly U.S treasury 10 years at  3.9 percent and has been spiking all  year Bitcoin has been pretty  non-volatile over the last couple months  right so it is interesting to watch  bitcoin's still right around 19 to 25  000 all summer long and all fall so far  and we still do have some different  projects like ethereum I still think are  going to do well in the long term I'm  just not dollar cost averaging yet but  I'm getting closer to you can see I just  made a video on this yesterday how The  Inferno is here and they've been burning  more and more ethereum over the last  couple days we went from 13 000 ethereum  issued since the merge which is what  nearly a month ago now to now just eight  thousand so when the network is used you  can see this kind of deflation that  happens pretty quickly we had five  thousand five hundred ethereum burned or  right around five thousand uh just in a  few days so that's pretty cool so  there's still going to be Innovation  there's still going to be money to be  made and companies are going to continue  making money hopefully as well if you're  in the right companies even with a  recession but don't get scared don't let  people throw you off of your investing  plans just because they say that you  should raise raise cash or we could fall  another 20 now that's not Financial  advice but it kind of is right don't let  other people influence your decisions  and you'll probably become a better  investor for it now of course you always  have to update your line of thinking  if things get way worse in the economy  we could fall further but that's why I'm  just saying that I am consistently  dollar cost averaging right we could  always fall further but a lot of these  companies that I'm buying will be fine a  lot of these cryptos I think will be  fine and yours down the line I'll be  happy that I was investing in some of  the darkest times where people's were so  worried thank you so much I appreciate  it and I will see you in the next one  check out MooMoo underneath the video  bye