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the things I've always admired about you as an investor is that you don't talk about what should be you figure out what is going to be and then you do that so what is going to be with respect to the stock market what's going I learned very early in my investing careers I better not invest what I want a federalist on what's happening in the world otherwise I would be broke dead broke what's going to happen is this going to continue some stocks in America are turning into a mobile the bubble is going to come and it's going to collapse you should be very worried but Henry this is good for you because somebody has to report so you have job security you're lucky so well TV ratings do seem to go up during crashes but then they completely disappear when everyone is but obliterated so nobody is hoping for that but so when is this going to happen later this year next later this year and I write it down and what will trigger it well it's interesting because these things always start where we're not looking in 2007 Iceland went broke people said Iceland another country they have a market and then our line went broke and then Bear Stearns went broke and then you know Bremen brothers went vote they said they spiral like that always happens where we're not looking at it it could be an American pension plan it goes broke and many of them are broke as you know it could be some country we're not watching it could be all sorts of things it could be war unlikely to be war but it's going to be something when you're watching Business Insider and you see so instead I know that company could go broke it goes broke send an email okay and then I'll start watching and how big a crash could we be looking at and be the worst in your lifetime like I've got some pretty big wings I like of it so long it could be the biggest in my lifetime and I'm older than you know it's going to be serious out it's going to be very we've had financial problems in America let's use America every four to seven years since the beginning of the Republic well it's been over eight since the last one this is the longest or the second longest in recorded history so it's coming and the next time it comes you know in 2008 we had a problem because of debt Henry the debt now just that debt was nothing compared to what's happening now in 2008 the Chinese had a lot of money say for a rainy day he started writing they started spending the money now even the Chinese have debt and the debt is so much higher the Federal Reserve's central bank in America balance sheet is up over five times since 2008 will be the worst thing you're the worst in my lifetime to be worried I am worried what can the Fed rescue us can anybody rescue they will try they will they were what's going to happen is they're going to raise interest rates um well then when things started going really bad people kind of Colin say you must save me it's Western civilization is going to collapse and the Fed who is made up of bureaucrats and politicians will say I better do something so they will try but it won't work it would call some rallies but it won't work this time and we are in a situation where Western civilization already seems to be possibly collapsing even with the market going up all the time often when you do have a financial calamity you get huge turmoil in the political system what happens politically if that happened well that's why I moved to Asia my children speak Mandarin because of what's coming you're going to see government's fail because the countries fail this time around Iceland failure last time other countries fail you've got to see more of that you're going to see parties disappear you're going to see institutions have been around for a long time Lehman Brothers have been around over 150 years gone not even a memory for most people if you're going to see a lot more of that next time around whether it's museums or hospitals or universities or financial firms
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