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Well, now you mentioned the vaccine. What What do you actually see happening in the next six months? Do you see this V-shaped recovery? Do you see this vaccine making everything okay to where we can go back to at least live in this bubble economy? Do you see Trump getting reelected? And then at some point, I want to ask you why the stock market is still up.
But first of all, do you see us getting back to normal or do you see certain industries never coming back ever again? Well, as I said, the way it was before CO 19, at least in America, was not normal. And so we're not going to go back to that. I think we will go back to an actual normal but that's a very very deep depression from here.
We have to go through a a huge economic contraction to get back to actual normaly. And the road between here and normaly is is is a very treacherous one and a lot of people are going to get wiped out right a lot of businesses are going to fail. A lot of people are going to lose money. uh all of that has to happen in order to get back to a a normal economy.
Now, nobody wants to go back to a normal economy. They want to go back to the bubble that we had before. I just don't think that's possible. I don't think that there's enough air to reflate that bubble. I think that the federal government is going to try. The Federal Reserve is going to try, but they will fail.
Now, I thought they were going to fail last time, right? when I was forecasting uh the 2008 financial crisis before it happened because I knew that it was going to happen at the time, you know, back when I wrote Crash Group 2006 and I said that when the real estate bubble popped, we would have a financial crisis.
I said the government and the Fed would try to reflate the real estate bubble, reflate the stock market bubble by slashing interest rates and printing all this money, uh, and run trillion dollar deficits. And, you know, they did exactly what I forecast they would do to a problem that they didn't even know existed, but which I could see coming from a mile away.
But my thought back then was that their attempt to reflate those bubbles would fail and that the dollar would crash before they can uh finish that mission and then we would have an economic collapse. That's what I got wrong. They didn't just attempt to reflate the bubbles. They actually succeeded. And in fact, not only did they reflate the bubbles, they made them bigger than they were before.
I underestimated the ability of the Fed to be able to do that because I probably overestimated the intelligence of the rest of the world to figure out what was going on. But since the government was able to succeed in making the bubble so big, I don't think there's any way they're going to be able to repeat what they did last time.
I think now we're going to get the dollar crisis that I thought we would have had a while ago, right? in response to the stimulus that followed the '08 financial crisis. Instead, we're going to get the dollar crisis in response to the stimulus that we have now. Right? This is the the last time. It's not going to be the third time is the charm.
It's going to be three strikes and you're out because the Fed got away with this after the dot bubble popped too, right? And so people think they're going to make it a hat-tick. They're not. It the numbers are just too big. I already went over just the sheer enormity of the debt. So, we're not going to successfully refer freight these bubbles.
We are going to destroy the dollar. The dollar is going to crash. It's going to take the bond market and then the US economy along with it. And so, we're not going to get a V-shaped recovery. This is going to look like a lightning bolt, right? It's, you know, we got a line down and then we're going to start to go up and people are going to think it's going to be a V, but then it's going to turn down and turn into a lightning bolt.
That's dark, Peter. These are dark times. you're talking about. I mean, this changes societies, right? This changes families. This changes the psyche of a nation to go through something like that. And we're not ready for it. People aren't tough enough, are they? No. I mean, we're a bunch of sheep. Everybody wants something for nothing from the government.
I mean, that's the the type of nation that we have now. People are looking for a handout. Uh people think they're entitled to stuff simply because they exist, right? the government, I should have health care, I should have housing, universal basic income, food, I should have clothing, that I have a right to things.
And that's not true. The only thing you have a right to is your freedom. You have a right to be left alone. So, you can pursue all the things that you want. You can pursue property. You can pursue happiness, but you don't have a right to any of those things because you don't have a right to take things away from other people.
But that's what you're doing when you're when you're asking the government to provide you with something. You're asking the government to steal those things from other people and give them to you because the government itself, as I said, has nothing. It only has what it takes. And people don't realize that when they're voting for free stuff, they're actually committing a robbery.
They're just doing it under the guise of government. And somehow they think it's on a a moral higher plane. when you rob somebody uh using an intermediary and I don't differentiate between that. I mean putting on a mask and stealing somebody thing is the same thing as voting for somebody who then steals it under the color of law because it's still theft.
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