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Michael burry has finally decided to grace us with his majestic presence and save us from the coronavirus Oh Lord amen Thank You Michael berry you know what I think happened he saw a Christian Bale playing him in the big short and then he also saw Christian Bale play Batman sober II went to the mirror and he looked at himself and he thought wait does this mean that I'm Batman so now he's taking that to heart and he has risen to be the hero that we need and deserve so in this video we're gonna go over what he thinks the government should be doing about this whole coronavirus pandemic and how they should be managing it so that it doesn't destroy the economy while still saving lives and you're gonna want to hear everything he has to say because he's mentioning a lot of things that no one else is talking about regardless of how important they are these are things that I've personally been thinking about but I'm not smart enough to come up with a solution but thankfully burry is so he's a guy who you definitely want to listen to all his thoughts and before we get into it the explosive stocks checklist that's our free checklist that shows you how to find stocks that do really well in this type of volatility there's a link down below in the description and comments he'll take you to this page where you could get this checklist today definitely do that so to be able to return and save us from ourselves burry had to figure out some type of platform that he could use to get his message out he needed something where thoughtful discussion could take place in real change could occur and so he chose Twitter bery bery bery I mean look at his picture as soon as he joined he's like oh god I think I've made a big mistake I can't believe I'm here right now he's got a great little bio here too real personal account of the real weird one from the book and movie and etc etc Wow so mysterious but I know how you feel Mike burry because I feel the same way about Twitter I really hate Twitter so much and I'm glad to finally say that I've pretty much pulled myself off of there I should have done it when PewDiePie did it that was a good signal but you know better late than never Twitter only made me mad whenever I was on there it's just full of a bunch of pseudo-intellectuals jerking each other off about some abstract ideas oh that's such a good idea oh the the growth potential oh it's it's gonna change the world just all day every day that's all it is and they'll be talking about something like direct-to-consumer vegetable seeds so you can grow your own garden and sure we've all had access vegetable seeds for forever but now this time is different because we've rebranded it it's not just boring old vegetable seeds it's super seeds and we spent hundreds of thousands of dollars on the marketing so now everyone is definitely gonna grow their own gardens and the food supply chain will be changed forever we just changed the world it's so stupid and I swear being a venture capitalist today is all about how much you can tweet I don't know if any of these guys are actually investing in any companies or helping their portfolio of companies do anything useful but they sure can shoot off forty tweets a day it's all just talking on Twitter no actual doing and then there's a bunch of defensiveness about how that talking is actually productive and it is changing the world but no no it's it's really not so you could see it in Mike Barry's eyes he's only gonna be on Twitter for a short while because this was the best choice of all the worst options but he's gonna be out of here so let's enjoy him while he's here so Bloomberg had an article on him and they actually had an email exchange with him to to kind of explain what he thinks should be done about this virus so interesting thing about Michael burry he's actually a doctor and then he turned into investor when he realized how much money he was making in markets versus you know helping people not to say that US investors don't help people but you know and this is nice that he's actually a doctor because right now everyone every person you see thinks they're an epidemiologist when they're not so at least burry is a doctor and his main message is that the lockdowns intended to contain this pandemic are actually worse than the disease itself so long story short he thinks the government is doing a terrible job but I mean what's neat we all think that at all times so this whole shutdown he thinks it might cause one of the deepest ever economic contractions and the stupid part is that it's not even necessary to contain the epidemic instead what's happening is that it's disproportionately hurting low-income families and minorities he also thinks of that malaria drug hydroxychloroquine should be used more so he had an email exchange with Bloomberg to help get his message across because shockingly Twitter wasn't enough but he said that the universal stay at home order is the most devastating economic force in modern history and it's stupid because it's man-made it's our own choice so what it does is very suddenly reverse the gains of underprivileged groups it kills and creates drug addicts beats and terrorizes women and children and violent now jobless households and more it bleeds deep anguish and suicide so this part right here the reasoning why burry thinks this lockdown is much worse than the disease this right here is what not many people are talking about so a lot of the people that I follow on Twitter there's smart people smart investors and they were losing it over the people who were disobeying quarantine and going about their lives those undisciplined animals that's how they were looking at it and discussed that people weren't disciplined enough to stay home but these same people complaining about it if you look at them they're all very privileged and I'm not trying to get all liberal here but they have no idea how the other side lives and I'm gonna assume if you clicked on this video and you know who Michael burry is and you're investing in the stock market then you're probably pretty privileged to because there is actually a very small percentage of us in this country that actually invest in the stock market because the rest of us don't have any money so I know we might still be struggling but we're more privileged than we might think so you might share the opinion of why can't people just stay home and I definitely used to share that opinion too that I thought people were so undisciplined and stupid and I couldn't believe it my tune has only changed about this stuff over the last few years so what I'm talking about that burry mentioned that a lot of us miss is how bad these people's lives actually are and how terrible is to be at home like this isn't an exaggeration right here about the beating and terrorizing that happens to these women and children in their house and you can imagine that it's even worse when there's no money everyone's stuck at home there's definitely gonna be drugs and alcohol involved and it's just a horrible powder keg and this is hard for a lot of us to imagine especially if we came from a good family like me I was fortunate enough to grow pretty good but a lot of these people that are stuck at home they would rather go outside and take their chances with a virus instead of getting beat at home and abused again it's tough to imagine how bad the conditions can be which is why I highly recommend and I've mentioned this before but now that we're in quarantine I know you definitely have the time but if you haven't already everyone needs to go watch the wire on HBO it's an incredible show that will inject empathy into your veins and show you how bad it could really get only after watching that show which I think was like two years ago I was late on it only after that did I understand how bad and hopeless some situations can be I learned what trapped really meant and what a real bad environment was if you watch that show you'll understand that the whole idea of them American Dream and pulling yourself up by the bootstraps it's not that cut and dry and this isn't some documentary it's like a fantastic cop drama but obviously it's way more than that it's one of the top rated shows ever and it will completely expand the way you look at the world especially if you come from pretty good circumstances so if you want to understand what burry is talking about definitely check that out and you've got to watch all five seasons you can't just stop at the first one because the whole kids part is the fourth and fifth season and buri also mentions the drug problems that we have right now because we have such bad depression and that leads to suicide and we know in the u.s.
we have a huge huge mental health crisis depression rates are way up so our suicide rates being trapped at home is actually going to kill people and I have friends that are already suffering because they suffer from the mental health problems which is another thing if you don't have those problems you can't understand like one of the best things for a few people that I know that have depression you need to get them outside and around people but how do you do that now when we're all trapped in so I really appreciate buried thinking about this stuff because it's not something that I've heard from his peers others super rich investors smart people so as we go through what he recommends I'm not personally sure if it's the right move of course I can't be sure but at the very least it seems to be coming from a very thoughtful empathetic place not just start the economy so I can make more money again so his main angle is talking about how people are suffering from these quarantine measures he calls what a government is doing unconscionable one of the things that he thinks we should have been doing is making testing Universal because then the fatality rate would be less than 0.2 percent the fact is is that we failed on testing and instead we did this crazy move to just quarantine everybody which ruins the life of 99% of people the testing is the most important part he said that the actual coronavirus infections can be managed through common-sense measures like increasing hand-washing and broader testing once again without forcing everyone to stay home he also wanted more use of these drugs to treat people who are infected but the reason why we haven't been doing that is because those drugs haven't been fully tested or approved I got a cousin who's an infectious disease doctor and last thing I heard from her was that these drugs they might be effective but they might also not be effective and the big danger with prescribing them is how they react with other drugs that the patient might be on because you start getting crazy side effects like some people go blind so if you're not careful the medicine might do nothing for you in instead cause huge side-effects that you won't recover from so it's dangerous in a sense but also if people are dying maybe you take the risk I don't think anyone has a good answer yet which is the problem so buries whole twitter is all about the virus he doesn't even tweet about his investments last month he did say that he placed a significant bearish market bet that is working out for now of course he's good at shorting big shorting all he said was that it was a good sized bet against the indexes now that you mentioned was that this pandemic could unwind the passive investment boom which he said is a huge huge bubble and he even compared it to the CEOs that fueled a pre 2008 bubble we all know he's an expert about that so here's what he thinks we should be doing first is standardize the drugs and make them cheap and available to is the sick and elderly should voluntarily shelter in place that's the only group and then everybody else should lead their normal lives with extra hand washing and special care if they're around those at-risk groups saving this economy means life not murder so then Bloomberg asked him a bunch of questions over email which he responded to so how the pandemic happened so he said this is a new form of the corona virus which started in China and unfortunately they covered it up which was the original sin and that's the thing you guys know I really dislike the CCP which is the Communist Party of China their government and before all this happened with that whole NBA thing and all that going on I was hoping that the tides were changing against China and now with this virus I really hope everyone is done with them because they literally let this virus spread if they didn't created themselves which is I know just speculation but I've learned to never underestimate how evil the CCP is and here's another hedge fund manager I appreciate Kyle bass because he's basically changed his whole Twitter feed and everything that he talks about to being anti CCP so he says China locked down Wuhan where you know the virus started they locked down travel from there to anywhere else in China on January 23rd but they encouraged the travel to the rest of the world knowing that this deadly virus would spread to everyone at least 250,000 Chinese people landed in the US until you know the president called that travel ban so the CCP made sure that if China was going down the rest of the world was going with them which is why they covered it up and let everyone travel even though they ban travel within their own country and I know I sound like a conspiracy theorist when I talk about this but the truth is the CCP is a problem and I hope this is what finally turns the sentiment against them and we keep it that way so the virus very easily transmits itself like we all know and within the first month it was likely all over the world and the problem was is that we had very poor testing infrastructure which created an information vacuum case is ramped up and ventilators shortages were projected and then the politicians panicked and the media filled a space with their own ignorance in greed it was a toxic mix that led to the shutdown of the US and hence much of the world's economy the issue once again was that we never had that proper testing so we made decisions based off information that we really didn't have so in hindsight each country should have immediately ramped up rapid field testing of at-risk groups but as I understand it the CDC was tasked with some of this and botched it and other departments were no better the bureaucracy failed in a good number of countries and turf wars and incompetence ruled the day politics classic so the political cover for that failure on the part of the technocrats and politicians is a very harsh stay at home policy because that's all they could do after all these things failed and other sacrifice in the economy so as far as how the US should respond he says if there's ever a time for government to stimulate with fiscal monetary policy it's now but unfortunately the US has been adding $3 for every one dollar of new GDP over a very long time and interest rates were already near zero so we've already been stimulating a ton even before this happened but still nothing is more important now than loans to small and mid-sized businesses in the US Treasury which is backed by the Fed is providing that liquidity which is vital you guys know I agree with that because we talk about liquidity all the time on this channel on how important it is but here's the messed up part they botched this whole loan process so badly that it's looking like businesses aren't gonna be getting their loans for months they're not even gonna process the applications for months so really what's the point do they not understand like the time the time crunch that all these businesses are on in two months most of them won't even be there the damage is already done and it's getting worse every day but the government can't kick itself in gear to fix it and it's funny because we're seeing this news you know the Fed announcing another two trillion and stimulus and they're gonna do more loans and they're gonna fix everything right so you see the stock market shoot up after all that news right it's not like it looks great right now but really what's happening is that it's getting more and more detached from the real economy so the real economy is like this and the stock market is like this and that can happen in the short-term but then what's gonna happen eventually eventually the stock market is gonna collapse back down to what's actually happening because the stock market is a confidence game so when the Fed says all these things and they announce all these policies yeah people feel good about the future but then you actually got to see that future play out and as time goes on with all these things being botched that positive future isn't playing out so prices got to correct themselves again and it's just so stupid has anyone gotten their stimulus check yet where's the money how are people gonna live this it's so stupid anyway as far as potential treatments he says that it's pretty clear that the hydrochloric end is doing something good for many of the patients so a standard in medicine because you know he's a doctor so he knows this to have a placebo controlled double-blind study but there's no time for that right now the technocrats at the top are getting it wrong do the studies and make the vaccines but allow doctors to have what they feel is working right now let them be the ones who are making the decisions don't take the tools or the drugs out of the treating doctors hands Trump should be using the defense production act more liberally in this area that's another thing I'm confused about with the defense production Act if Trump can make these companies start making things that we need why isn't he doing it because all these people in the healthcare industry still don't have their personal protection equipment so the question is are these companies so poor with their supply chains that they can't switch their factories to creating this stuff or is it that they're not properly motivated I think it might be the latter so Trump should take over and as we already explained before a more nuanced approach would be for the at-risk groups the obese old and already sick to shelter in place and then we should execute mandatory testing and then ID and track where it's necessary to allow society to function I don't know what ID and track actually means so I wonder how that would play out but again Trump should get the massive contract manufacturers like Flextronics to start making testing machines you can do that with the defense production Act which he is not doing still so burry would lift the stay at home orders except for the known risk groups especially for the young and healthy whose lungs tend to be resistant so he thinks you should let the virus circulate in the population that's not likely to get a severe disease from it because vaccines are not coming anytime soon so natural immunity is the only way out for now that's that herd immunity that we've heard about and one of the problems with Corona is that it's not known for imparting enduring immunity and that's gonna be a huge challenge so my cousin the infectious disease doctor she actually has coronavirus she's okay but she's waiting to get back to work and she needs to get tested right before they send her back to show that she's all clear but the issue is is that that immunity that she's about to develop might only last eight weeks that's the last thing I heard from her and then you can get sick again so how do you fight something like that so he says it seems that the genetic code is relatively conserved and this will help the development of vaccine but we're still looking at the end of the year for that to happen but he is bullish on the world because it's an innovative place and he expects many effective treatments both new and repurposed shortly the question will be regulation expense and availability which you know as soon as the government gets involved it's gonna be botched so he thinks in the future countries are gonna look to bring their supply chains home and many employees will need to retrain with higher cost and when we start working and playing again inflation may be there waiting for us and the other big thing is that consumer behavior has completely changed now and that's gonna drive a lot of business churn so a big thing this virus has shown is how fragile our global supply chains are and I know these companies built the supply chains this way knowing that they'll probably get a bailout the thing is with any system you need to leave some slack in it you can't be running a system at full capacity because if anything breaks down anything minor the whole thing falls apart leaving that slack is what saves you in those periods but it looks like our companies have gotten used to running it at full capacity constantly with fragile connections overseas and now when something like this happens it's all ruined and we can't get what we need so hopefully to prevent that in the future because this period has been so devastating they're gonna bring their supply chains back home and that is once again something I'm excited about because that's gonna really hurt China and that's gonna take a lot of the power away from the CCP because we've done videos about China before and we know that they are a house of cards and they're very dependent on the outside economy they are not self-sustaining the u.s.
is the most self-sustaining economy there is in the world so if we take away our money that we're sending them and we stop exporting all this stuff they are gonna suffer way more than we are and that's what the world really needs to do to cut China out until their government changes and then the thing that he was saying about new consumer behaviors yeah it's it's definitely a change that we're going through right now and consumers aren't going to be the same coming out it's like after the Great Depression trusted banks and everyone save lots of food everyone became hoarders I'm not saying that's gonna happen but you will see some shifts in the way demand works because now you got this whole generation thinking well what if we have another pandemic what am I gonna do I better actually plan for that especially as we see how bad the government is botching it this time they say you're getting help but are you actually gonna get help is anyone getting money really all that's happening is they were trapped in our houses so we don't know for sure but of course that's something we should keep an eye on it's funny I thought I read somewhere or I saw this tweet from Michael burry but I can't find it so maybe I imagined it but he said something like back in 2008 I didn't have any friends in the government and no one listened to me he was talking about the crisis then he says today I have a lot of friends in the government but no one's listening to me and that's the story of our lives right with the governments they run stuff it's all corrupt it's all a mess but we do what we can and try to make money where we can and if you're looking for a good strategy in the stock market check out that explosive stocks checklist today that link is down below in the description and comments will show you the strategy we use to find stocks that do pretty well in this type of volatility definitely go check that out because you don't have anything to lose and make sure you subscribe to this channel so that you don't miss our future videos which are coming so subscribe and I will see you in the next one stay fouled out there bye
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