Latest / Financial Survival Network / Market Meltdown: Dissecting the Recent Crash - Ed Siddel #6122

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Market Meltdown: Dissecting the Recent Crash - Ed Siddel #6122 · Financial Survival Network

• 0:00
  Speaker 1: Yeah, I mean there really is a tail of two cities, right.
• 0:04
  Speaker 1: You know, you've got the difference between Main Street and
• 0:08
  Speaker 1: Wall Street. And you're talking about the working poor, Well,
• 0:10
  Speaker 1: the reality is, I mean the middle class they're becoming
• 0:12
  Speaker 1: the working poor. You know, here in Ohio they passed
• 0:16
  Speaker 1: a rating increase just for power electricity that kicked in
• 0:21
  Speaker 1: the summer, and so people's utility bills went up as
• 0:24
  Speaker 1: much as thirty percent. You know, not to mention the increase.
• 0:28
  Speaker 1: You know, every time we go to the pumps and
• 0:30
  Speaker 1: to the grocery store. So in taxes, right, I mean,
• 0:34
  Speaker 1: the property taxes, everything has just been increasing, and so
• 0:38
  Speaker 1: you know, people continue. We've had more people borrow against
• 0:42
  Speaker 1: the retirement accounts. They're four to one keys now than
• 0:45
  Speaker 1: they did. You know in two thousand and eight and
• 0:47
  Speaker 1: two thousand and nine.
• 0:48
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• 0:52
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• 0:55
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• 1:08
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• 1:16
  Speaker 3: And welcome you are listening to and watching the Financial
• 1:19
  Speaker 3: Survival Network. I'm your host, Carrie Letz. Hey, it's August sixth.
• 1:24
  Speaker 3: This first week of August has been mind blowing here.
• 1:29
  Speaker 3: The brash in the markets, I mean, I guess it
• 1:32
  Speaker 3: qualifies as a crash. Is this the start of something bigger?
• 1:36
  Speaker 3: Or is there something else afoot here? And Sidell is
• 1:42
  Speaker 3: with us now, Ed. It's great to have you back. Hey.
• 1:46
  Speaker 3: I'd like to be laughing like our vice president here,
• 1:49
  Speaker 3: but I just can't find it in myself.
• 1:52
  Speaker 1: Oh yeah, there's not a whole lot of things to
• 1:54
  Speaker 1: be laughing at for for sure, But thanks for having
• 1:56
  Speaker 1: me back. Yeah. You know, I think what we're seeing
• 2:00
  Speaker 1: right now, Carrie, is you know, we saw some profit
• 2:03
  Speaker 1: taking followed by by panic, and honestly, I think this
• 2:09
  Speaker 1: is what the feds. I mean, they've been reactionary the
• 2:12
  Speaker 1: whole time. They've never been proactive under Pal's leadership or
• 2:15
  Speaker 1: lack of it, And you know, but it does give
• 2:19
  Speaker 1: them the ability to lower rates and dumb more money
• 2:24
  Speaker 1: into the system, do some more quantitative easing I think
• 2:26
  Speaker 1: is going to happen as well. But I think they're
• 2:29
  Speaker 1: going to lower rates as much as one percent if
• 2:31
  Speaker 1: not a little bit more before the end of the year.
• 2:33
  Speaker 3: Hey, so is this good for gold? Is it good
• 2:36
  Speaker 3: for stocks? What do you do? Because the average person
• 2:39
  Speaker 3: out there, which I feel like I'm one of them,
• 2:42
  Speaker 3: is not really sure what to do. My gut field
• 2:44
  Speaker 3: tells me this little mini crash here, the fact that's
• 2:48
  Speaker 3: happening in August, the fact that you know, they were
• 2:53
  Speaker 3: leaning towards cutting rates the FED, but they didn't do
• 2:56
  Speaker 3: it yet. There's something afoot here.
• 2:59
  Speaker 1: Yeah, yeah, you know, I mean we were expecting a
• 3:02
  Speaker 1: correction as far back as is March April, you know,
• 3:07
  Speaker 1: and we did. We hit correction, you know, territory, we
• 3:11
  Speaker 1: you know, we almost did bear territory with a with
• 3:13
  Speaker 1: a Nasdaq. But again, you know, I think it was
• 3:17
  Speaker 1: this this panic you know, the the the panic index,
• 3:22
  Speaker 1: the VICS that that went up like one hundred and
• 3:24
  Speaker 1: whatever it was one hundred and fifty percent, one hundred
• 3:27
  Speaker 1: and sixty percent or one hundred and eighty percent whatever was,
• 3:29
  Speaker 1: you know, in a in a seven eight hour period,
• 3:33
  Speaker 1: you know, just showed that.
• 3:34
  Speaker 3: The sell off.
• 3:37
  Speaker 1: You know, I don't want to say that it was planned,
• 3:39
  Speaker 1: but you know, those the powers that be, you know,
• 3:43
  Speaker 1: the these hedge funds, these large institutional investors. You know,
• 3:48
  Speaker 1: they were taking profits knowing that you know, the the
• 3:50
  Speaker 1: FEDS would be able to come back in law rates,
• 3:53
  Speaker 1: you know, do some more easing and then have the
• 3:56
  Speaker 1: ability to uh uh, you know, turn around and make
• 4:01
  Speaker 1: some more money. But I think the reason that they're
• 4:04
  Speaker 1: going to lower rates as a bigger picture thing from
• 4:08
  Speaker 1: an election cycle standpoint, is to have the market rally
• 4:12
  Speaker 1: right before the election and say, see, I told you so,
• 4:14
  Speaker 1: everything's great.
• 4:16
  Speaker 3: You could very well be correct there. I certainly wouldn't
• 4:19
  Speaker 3: put it past them, But you know, little things like inflation. Now,
• 4:25
  Speaker 3: I'll admit I'm affected by it just like you, but
• 4:29
  Speaker 3: not so much as the people, the working poor, the
• 4:33
  Speaker 3: middle class. Those people are being decimated, being crushed. Yeah, yeah,
• 4:38
  Speaker 3: I mean there really is a tail of two cities, right.
• 4:42
  Speaker 3: You know, you've got the difference between Main Street and
• 4:45
  Speaker 3: Wall Street, and you're talking about the working poor. Well,
• 4:48
  Speaker 3: the reality is, I mean the middle class, they're becoming
• 4:50
  Speaker 3: the working poor. You know, here in Ohio they passed
• 4:54
  Speaker 3: a rating increase just for for power electricity that kicked
• 4:59
  Speaker 3: in the summer, and so people's utility bills went up
• 5:02
  Speaker 3: as much as thirty percent, you know, not to mention
• 5:05
  Speaker 3: the increase you know every time we go to the
• 5:07
  Speaker 3: pumps into the grocery store. So in taxes, right, I mean,
• 5:12
  Speaker 3: the property taxes, everything has just been increasing, and so
• 5:16
  Speaker 3: you know, people continue We've had more people borrow against
• 5:19
  Speaker 3: the retirement accounts. They're four to one keys now than
• 5:23
  Speaker 3: they did, you know, in in two thousand and eight
• 5:25
  Speaker 3: and two thousand and nine. You know, we've got you know,
• 5:29
  Speaker 3: bankruptcies up, We've we've got repossessions on vehicles up. So
• 5:34
  Speaker 3: all of these.
• 5:35
  Speaker 1: Things that we continue to look at. I say it
• 5:37
  Speaker 1: all the time, right, the dead bubble, and it just
• 5:40
  Speaker 1: keeps mounting and mounting and mounting. And we're just talking
• 5:43
  Speaker 1: about lower rates. You know, all that is going to
• 5:46
  Speaker 1: do is continue to kick the keyn down the road,
• 5:50
  Speaker 1: and inflation is going to you know, just get higher
• 5:52
  Speaker 1: and higher, especially under the current economic policies were lack thereof.
• 5:57
  Speaker 1: So we may get temporary relief as far as the
• 6:00
  Speaker 1: market goes, but Main Street, I mean it's really it's
• 6:04
  Speaker 1: not going to benefit them nearly as much as it is.
• 6:07
  Speaker 3: You know, Wall Street, for sure, main Street's bleeding. Wall
• 6:10
  Speaker 3: Street is profiting right as usual, right, Yeah, which is typical. Yeah,
• 6:17
  Speaker 3: well that's the way the system is designed. I hate
• 6:19
  Speaker 3: to say that everything's rigged, but everything is rigged. Yeah.
• 6:23
  Speaker 1: You know when when you see the same hands being dealt,
• 6:27
  Speaker 1: you know, it's it's cyclical.
• 6:29
  Speaker 3: You know.
• 6:29
  Speaker 1: We we saw it, you know, in in the you know,
• 6:32
  Speaker 1: early eighties, we saw it the tech bubble with the
• 6:35
  Speaker 1: housing bubble, and you know, we're we're kind of seeing
• 6:38
  Speaker 1: it right now.
• 6:39
  Speaker 3: You know, every.
• 6:40
  Speaker 1: Every couple of years there there seems to be a
• 6:43
  Speaker 1: reset where we get to a certain point and you know,
• 6:46
  Speaker 1: things back off, and you know, those who make money
• 6:50
  Speaker 1: make more, and you know those who don't, you know,
• 6:53
  Speaker 1: they they don't, they lose out. And so that's I
• 6:57
  Speaker 1: think that's why, you know, having a strong economic policy
• 7:01
  Speaker 1: and in a more importantly strong energy policy and bringing
• 7:05
  Speaker 1: manufacturing back to the US is going to be so
• 7:07
  Speaker 1: very important in order to have the you know, the
• 7:11
  Speaker 1: the American dream be reinstituted, be because I think it's
• 7:15
  Speaker 1: faltering right now.
• 7:16
  Speaker 3: I think you are correct on that one for sure.
• 7:19
  Speaker 3: So this looks like it's going to be good for gold,
• 7:23
  Speaker 3: precious metals. Maybe crypto crypto even got hit ed.
• 7:27
  Speaker 1: Yeah, crushed, Yeah, I saw a gain all the way
• 7:29
  Speaker 1: down to forty nine thousand. Obviously bounced back up, but
• 7:32
  Speaker 1: then you know that was a pretty steep drop. Gold
• 7:35
  Speaker 1: went down a little bit. But you know, I think, uh,
• 7:38
  Speaker 1: with what we're seeing right now, the US dollar, you know, dropping,
• 7:43
  Speaker 1: not getting a little bit weaker, you know that's going
• 7:47
  Speaker 1: to be good for gold. I mean, that's telling us
• 7:49
  Speaker 1: that there's some inflationary pressure still on the horizon. You know,
• 7:53
  Speaker 1: everyone's so focused on the jobs numbers, and you know
• 7:56
  Speaker 1: those I think those stats are skewed. You know, goes
• 7:59
  Speaker 1: back if you hold saying. My economic professor used to
• 8:02
  Speaker 1: say all the time, right, there's lies, there's damn lies,
• 8:05
  Speaker 1: and there's statistics.
• 8:07
  Speaker 3: Mindset that break. We have the same we got to
• 8:09
  Speaker 3: the same school there we mayn't.
• 8:14
  Speaker 1: And you know, so you really have to do your
• 8:17
  Speaker 1: own research. You really have to look at the big picture.
• 8:19
  Speaker 1: You know, everyone's just so myopic and they're thinking until yesterday,
• 8:24
  Speaker 1: right when you know the market was tumbling and you know, well,
• 8:28
  Speaker 1: you know, now's the time to run, you know, go
• 8:30
  Speaker 1: ahead and cash in your chips and everything else. Well
• 8:32
  Speaker 1: by that time, it's already too late, right, those in
• 8:35
  Speaker 1: the know already got out, you know, and but I
• 8:39
  Speaker 1: think there's still some good buys out there.
• 8:40
  Speaker 3: But well, i'll tell you what, if you have.
• 8:43
  Speaker 1: Cash shitting on the sidelines. I don't think this is
• 8:46
  Speaker 1: done yet. I think there's still going to be some
• 8:47
  Speaker 1: yo yoing going on and until they lower rates, and
• 8:52
  Speaker 1: I think that that's going to cause a rally in
• 8:56
  Speaker 1: the near term, right.
• 8:58
  Speaker 3: So between now and the end of the year.
• 8:59
  Speaker 1: But I'm telling you, I, in my heart of hearts,
• 9:01
  Speaker 1: I think the election is going to have a huge
• 9:05
  Speaker 1: effect on the outcome of not just the economy, but
• 9:08
  Speaker 1: the markets that everyone's retirement savings.
• 9:11
  Speaker 3: Eight. I want to talk about housing for a minute,
• 9:13
  Speaker 3: because that got his hand in hand with rate cuts.
• 9:16
  Speaker 3: Already got inventory shortage. Although as rates have gone higher,
• 9:20
  Speaker 3: less people buying, but the inventory is so low. We
• 9:23
  Speaker 3: do have pockets and weakness like in Miami, in Florida
• 9:27
  Speaker 3: the condom market for different reasons. Those are localized reasons,
• 9:33
  Speaker 3: you know, due to state law requirements, insurance crisis in Florida.
• 9:38
  Speaker 3: But I will point you to we're talking here. August sixth,
• 9:44
  Speaker 3: lenaar just made a new all time high all right
• 9:49
  Speaker 3: or close to it. It's all time high fifty two
• 9:53
  Speaker 3: week high it was what eighty two fifty three, it's
• 9:56
  Speaker 3: barely under that at one seventy four. You know, it's
• 10:00
  Speaker 3: the same with like you look at the h Horton
• 10:04
  Speaker 3: and all of the all of if you look at
• 10:07
  Speaker 3: the charts on them, all of them are going higher
• 10:10
  Speaker 3: as of today. So what does that tell you? Huh?
• 10:15
  Speaker 1: Well, absolutely, And I think that's part and parcel to
• 10:20
  Speaker 1: you know, the you know, the bonds going down, the
• 10:24
  Speaker 1: treasure US treasuries, the two year and the ten year,
• 10:26
  Speaker 1: you know, dipping down so much. I saw yesterday where
• 10:30
  Speaker 1: you know, uh, thirty year fixed rate mortgage. You know
• 10:33
  Speaker 1: it's five point eight percent, you know, and and and
• 10:37
  Speaker 1: so I think that's spurring on okay, you know people
• 10:39
  Speaker 1: that may have been waiting on the sidelines, but you know,
• 10:44
  Speaker 1: housing is so unaffordable. In order to make it more affordable,
• 10:49
  Speaker 1: you know, interest rates have to come down. You know,
• 10:51
  Speaker 1: it's a double edged sword. But then the prices are
• 10:54
  Speaker 1: go back up, right, So it's and it's supplying demand.
• 10:58
  Speaker 1: You know, you were talking about inventory, you know here
• 11:00
  Speaker 1: in our area, I mean there's hardly any inventory. I
• 11:04
  Speaker 1: mean people are knocking on doors, you know, hey, do
• 11:07
  Speaker 1: you want to sell your home because there just isn't
• 11:09
  Speaker 1: anything out there. There's definitely not anything affordable. I mean,
• 11:13
  Speaker 1: you know, you're lucky if you can find any kind
• 11:15
  Speaker 1: of a home under a half a million dollars in
• 11:18
  Speaker 1: any neighborhood. And that's you know, when the average price
• 11:22
  Speaker 1: of our home four or five years ago was you know,
• 11:24
  Speaker 1: just a couple hundred thousand. Now, and don't get me wrong,
• 11:27
  Speaker 1: that's a lot of money too, but to have it,
• 11:29
  Speaker 1: you know, more than double in such a short period
• 11:31
  Speaker 1: of time, you know, that's telling you that there's something
• 11:34
  Speaker 1: else afoot for sure.
• 11:36
  Speaker 3: Yeah. Yeah, So once the election madness is over, we're
• 11:41
  Speaker 3: going to have a real crash or rate's going to
• 11:43
  Speaker 3: be firmly rate cuts ensconced. We go on and on,
• 11:47
  Speaker 3: and how does this fit in with the carry trade
• 11:50
  Speaker 3: as well?
• 11:51
  Speaker 1: So, you know, I think the outcome of the election, right,
• 11:54
  Speaker 1: if if the current economic policies it's the current administration
• 11:58
  Speaker 1: and the current policy caes are being furthered on, it's
• 12:02
  Speaker 1: going to create a huge economic downturn and I think
• 12:05
  Speaker 1: the market is going to suffer dramatically.
• 12:08
  Speaker 3: You know, if there is a change in the.
• 12:10
  Speaker 1: Administration and more imporly the economic policy and we we
• 12:13
  Speaker 1: become energy independent again. Uh you know, I I think
• 12:17
  Speaker 1: that's we're gonna see, you know, a spurt of economic
• 12:22
  Speaker 1: growth that's going to be continued on, you know. I
• 12:25
  Speaker 1: you know, talking about the the carry trade, especially as
• 12:28
  Speaker 1: it relates to the end, you know, I I don't
• 12:31
  Speaker 1: think that that's what caused the the huge fear issue.
• 12:37
  Speaker 3: Uh yesterday and the and the big decline.
• 12:40
  Speaker 1: It was the first time that the Nasdaq was ever
• 12:42
  Speaker 1: down a thousand points, you know, in in one day,
• 12:46
  Speaker 1: ever at any point in time, you know. And so
• 12:51
  Speaker 1: when Japan raised their rates, you know, it shrunked that
• 12:55
  Speaker 1: arbitrage and and so a lot of people were buying
• 12:57
  Speaker 1: that on margin. So they were borrowing money from foreign
• 13:01
  Speaker 1: banks and Japanese banks especially in buying it in the end,
• 13:05
  Speaker 1: and you know, paying er point one percent or quarter percent,
• 13:09
  Speaker 1: and you know, even putting it in the US treasuries
• 13:11
  Speaker 1: at you know, five percent and that you know, that's
• 13:13
  Speaker 1: a huge arbitrage. But then when you margin that account
• 13:16
  Speaker 1: and you're having to pay interest on top of the loan,
• 13:19
  Speaker 1: now all of a sudden you have a negative arbitrage.
• 13:21
  Speaker 3: You know.
• 13:22
  Speaker 1: As as they went Japan raised rates and so that
• 13:25
  Speaker 1: affected the end. So I think that added insult to injury,
• 13:30
  Speaker 1: you know. But when you look at the global scale,
• 13:33
  Speaker 1: you know, the the global economy, you know, there is
• 13:37
  Speaker 1: you know, continued inflation everywhere. Uh, you know, we already
• 13:41
  Speaker 1: saw the EU, you know, lower rates. I think everyone's
• 13:46
  Speaker 1: kind of waiting on the US because if the US
• 13:49
  Speaker 1: economy falters, it's going to affect the you know, the
• 13:52
  Speaker 1: the global economy as well. So I think that will again,
• 13:56
  Speaker 1: you know, lower the end, you know, so as not
• 14:01
  Speaker 1: as low as what it was. But you know, there's
• 14:04
  Speaker 1: all these things that we have to look at. But
• 14:07
  Speaker 1: as a standalone, you know that carry trade, I don't
• 14:10
  Speaker 1: think that that was the cause that affected the huge
• 14:13
  Speaker 1: decrease over the last couple of days in the markets.
• 14:16
  Speaker 3: Yeah, it's a kind of a pile on effect, I think, yeah, absolutely.
• 14:21
  Speaker 3: You know, one thing that nobody's covering is the implosion
• 14:26
  Speaker 3: of the Chinese economy, the the solution of the Chinese
• 14:32
  Speaker 3: economic miracle over the past forty years. It's going it
• 14:36
  Speaker 3: went up like that and now it's going down like that.
• 14:39
  Speaker 3: It's it's downright scary, and like you said about statistics,
• 14:44
  Speaker 3: as much as you can't believe US government economic statistics,
• 14:48
  Speaker 3: you can't believe anything the Chinese say, well exactly.
• 14:52
  Speaker 1: I mean, you know that's why, you know, investing in
• 14:54
  Speaker 1: Chinese companies I think is so risky because they don't
• 14:57
  Speaker 1: follow the you know, the gap principles, so you don't
• 15:00
  Speaker 1: really know what the underlying profitability of these companies are.
• 15:04
  Speaker 1: And you know, so having our pensions and you know
• 15:07
  Speaker 1: sometimes a lot of government pensions in the and these
• 15:10
  Speaker 1: funds that they have that are investing in these Chinese companies,
• 15:12
  Speaker 1: I think is you know, the lack of a really
• 15:18
  Speaker 1: good fiduciary standard. I you know, I don't think that
• 15:21
  Speaker 1: it's it's proper because you know, I think they're at
• 15:23
  Speaker 1: a tipping point. You know, you still have all these
• 15:25
  Speaker 1: cities in China that that are completely vacant and they're struggling.
• 15:30
  Speaker 1: So I think they're faltering way more so than we
• 15:33
  Speaker 1: are right now.
• 15:34
  Speaker 3: I couldn't agree more. And the massive bloods they've been
• 15:38
  Speaker 3: having downright biblical business leading Shanghai the really the business
• 15:45
  Speaker 3: capital of the country. And you know, they said somewhere
• 15:49
  Speaker 3: around a million restaurants have closed in China and all
• 15:53
  Speaker 3: of these problems multi did you say a million restaurants?
• 15:57
  Speaker 3: Million restaurants in China.
• 15:59
  Speaker 1: Have Okay, but I knew it was a lot, I
• 16:01
  Speaker 1: didn't that. Well, okay, that's significant no matter how you
• 16:04
  Speaker 1: cut it. I mean that's huge. Mm.
• 16:07
  Speaker 3: Yeah, so a lot of things. But of course the
• 16:09
  Speaker 3: American press doesn't cover any of this, so it really
• 16:13
  Speaker 3: is only giving giving you like a small portion of
• 16:16
  Speaker 3: the story and then blaming it on sun spots or something.
• 16:23
  Speaker 1: Well, yeah, I mean we all have like we're surprise, right,
• 16:27
  Speaker 1: you know, it's it's yeah, you know what, Oh my gosh,
• 16:33
  Speaker 1: now my mind went playing acount and now you know
• 16:35
  Speaker 1: the rest of the story. Well, you know, we're not
• 16:37
  Speaker 1: being told the rest of the story.
• 16:38
  Speaker 3: That's that's the problem, multiple stories on China. That's one
• 16:43
  Speaker 3: million restaurant enclosures this year, just this year, been many
• 16:48
  Speaker 3: many more in prior years. But of course, again that's
• 16:53
  Speaker 3: the rest of this story. So it's the global economy
• 16:57
  Speaker 3: here the only thing holding it up, but really is
• 17:00
  Speaker 3: the United States. And that's another reason why this stock
• 17:05
  Speaker 3: market is doing better here because yeah, there's a lot
• 17:09
  Speaker 3: of monkey business going on, but there's a lot of
• 17:12
  Speaker 3: flight capital and you can only own so much goal
• 17:15
  Speaker 3: that physically account for it, and then you've got to
• 17:18
  Speaker 3: put it into paper to some extent.
• 17:21
  Speaker 1: And yeah, because you have to be able to I
• 17:23
  Speaker 1: mean currency, you have to be able to spend it.
• 17:24
  Speaker 1: And that's why you know, Brisa is is a big deal. Right,
• 17:28
  Speaker 1: I'm not mitigating that at all, but you know it's
• 17:33
  Speaker 1: I do not right now if depending on the outcome
• 17:37
  Speaker 1: of the election. You know, I do not foresee the
• 17:42
  Speaker 1: US dollar being surpassed as the reserve currency, because where
• 17:47
  Speaker 1: else are you going to put your money?
• 17:48
  Speaker 3: I mean you know there is an alternative? Right? Yeah? Well,
• 17:54
  Speaker 3: quite a mess they've gotten us into, hopefully, like go, well,
• 17:58
  Speaker 3: Rogers said, ignorance got us into this mess, and ignorance
• 18:01
  Speaker 3: I'll get us out right, well said, well set So
• 18:08
  Speaker 3: all right, ED, just tell us where do we find you?
• 18:10
  Speaker 3: How do we connect with you on the web.
• 18:13
  Speaker 1: Yeah, you can find us at egsifinancial dot com. That's
• 18:18
  Speaker 1: the best place to find.
• 18:19
  Speaker 3: Us, excellent, And that link is in the shut out
• 18:22
  Speaker 3: to this interview on Financial Survival Network dot com. When
• 18:25
  Speaker 3: you go there, please sign up for your free newsletter.
• 18:28
  Speaker 3: You just click Ed's link you get to a site
• 18:30
  Speaker 3: find out all about it. Ed I like your approach.
• 18:33
  Speaker 3: You're not locked into stocks which sometimes are really a
• 18:38
  Speaker 3: four letter word like yesterday. And you know you got
• 18:43
  Speaker 3: to keep an open an open attitude, an open mindset
• 18:47
  Speaker 3: when you're looking for the long term, because things change
• 18:51
  Speaker 3: and therefore your investments need to change with them. Absolutely
• 18:55
  Speaker 3: all right, we'll see you soon. Thanks for stopping by it.
• 18:57
  Speaker 2: Thanks for having me, Thanks for listening to Carey Leuxes.
• 19:00
  Speaker 2: Financial Survival Network your solution to today's trying times. For
• 19:05
  Speaker 2: the latest, go to Financial Survivalnetwork dot com. Financial Survival
• 19:10
  Speaker 2: Network now more than ever,