Japan *JUST* Crashed the *GLOBAL* Stock Market.

Summary

In this video, the host discusses the potential reasons behind the market collapse, focusing on the Japanese carry trade and its impact on global markets. The carry trade involves borrowing in Japan at low interest rates to invest in higher-yielding assets abroad. However, recent changes in Japanese monetary policy and the appreciation of the yen have led to significant losses for investors, contributing to market instability. The video also touches on geopolitical tensions and recession fears, adding to the uncertainty in financial markets.

Takeaways

• 📉 The markets are experiencing a significant downturn, with the Japanese stock market and bond market hitting circuit breakers, indicating a temporary halt in trading due to extreme volatility.
• 🗾 The Japanese carry trade is a significant factor in the current market situation. It involves borrowing money in Japan at low interest rates and investing in higher-yielding assets elsewhere, such as U.S. Treasuries or stocks.
• 🌐 The script suggests that the Japanese carry trade could be contributing to the global market instability, as it has led to a large-scale movement of capital and currency fluctuations.
• 📈 The Japanese Yen has typically been on a downward trend, making the carry trade profitable for investors who benefit from the depreciation of the Yen against other currencies.
• 🚫 However, the situation can reverse if Japan decides to raise interest rates, making its bonds more attractive and causing a flight to safety, which can lead to a rapid appreciation of the Yen.
• 💸 The potential for a margin call and subsequent liquidation of positions can exacerbate market downturns, as investors scramble to cover their positions when asset prices fall and currencies appreciate.
• 📊 The script mentions that the scale of the carry trade could be substantial, with estimates suggesting it could represent up to 10% of the U.S. stock market, indicating a broad impact on risk assets.
• 💡 The speaker highlights the uncertainty in the market due to geopolitical tensions, such as the potential for an Iranian attack on Israel, and the possibility of a U.S. recession.
• 🏦 Japanese banks are particularly vulnerable to the effects of the carry trade unwinding, as they may face losses on loans and a decline in their stock valuations.
• 📉 The script also discusses the impact on individual stocks and cryptocurrencies, noting significant declines in major companies like Tesla and Bitcoin.
• 🤔 The speaker speculates on the potential actions of central banks, suggesting that the Federal Reserve may prioritize combating inflation over avoiding a recession, implying limited intervention in the markets.

Q & A

What is the Japanese carry trade mentioned in the video script?

The Japanese carry trade refers to a financial strategy where investors borrow money in Japan at low or negative interest rates and then invest that money in higher-yielding assets, such as U.S. Treasuries or stocks, in other countries. This is done to profit from the difference in interest rates between Japan and other countries.

Why has the Japanese stock market been performing poorly recently?

The script suggests that the Japanese stock market has been underperforming due to a combination of factors, including the impact of the carry trade, potential geopolitical tensions, and fears of a recession. Additionally, the market has experienced circuit breakers being triggered, indicating high volatility and significant drops in stock prices.

What is the potential impact of the Japanese carry trade on global markets?

The carry trade can lead to increased volatility in global markets. If the Japanese Yen appreciates in value, it can make it more expensive for investors to repay their loans, leading to forced selling of assets and potential market crashes. The script suggests that this trade could involve up to 10% of the U.S. stock market, indicating its significant influence on global financial markets.

How does the script explain the potential for a market crash due to the Japanese carry trade?

The script outlines a scenario where if the Japanese Yen appreciates significantly due to changes in interest rates or other factors, investors who have borrowed in Yen to invest in higher-yielding assets may face margin calls and be forced to sell their assets to repay their loans. This selling pressure can exacerbate market declines and potentially lead to a crash.

What is the role of interest rates in the Japanese carry trade?

Interest rates play a crucial role in the carry trade. Investors are attracted to borrow in Japan due to its historically low or negative interest rates. When these rates rise, as mentioned in the script, it can make the carry trade less attractive and lead to a reversal of capital flows, impacting global markets.

What does the script suggest about the current state of the U.S. bond market?

The script indicates that the U.S. bond market is currently attractive due to higher yields compared to Japanese bonds. However, it also suggests that the situation could change if Japan raises its interest rates, which could make Japanese bonds more attractive and lead to capital outflows from the U.S. bond market.

How does the script discuss the potential for a recession in the U.S.?

The script mentions recession fears in America as one of the factors contributing to market uncertainty. It suggests that the Federal Reserve may prioritize fighting inflation over avoiding a recession, implying that aggressive monetary policy actions to combat inflation could potentially lead to a recession.

What is the significance of the Japanese Yen's value in the carry trade?

The value of the Japanese Yen is significant because a weaker Yen makes the carry trade more profitable, as it reduces the cost of repaying loans taken out in Yen. However, if the Yen appreciates, it can increase the cost of repaying these loans, leading to potential losses for investors engaged in the carry trade.

What does the script imply about the role of the Federal Reserve in a potential market downturn?

The script implies that the Federal Reserve may not intervene to prevent a market downturn due to its focus on controlling inflation. It suggests that the Fed may prioritize long-term economic stability over short-term market stability, potentially allowing a recession to occur if it helps to curb inflation.

What is the script's view on the potential for a conflict involving Iran and Israel impacting markets?

The script suggests that an imminent threat of an attack by Iran and Hezbollah against Israel could contribute to market instability. Geopolitical tensions and the potential for conflict can increase uncertainty in financial markets and may exacerbate existing market pressures.

Outlines

00:00

📉 Market Collapse and Japanese Carry Trade Explained

The video discusses the reasons behind the market collapse, focusing on the Japanese carry trade's role. It explains how Japan's low-interest rates have led to a situation where investors borrow in yen to invest in higher-yielding assets like U.S. treasuries. The summary covers the impact of Japan's economic stagnation and deflation on its interest rates, the resulting currency devaluation, and the carry trade's potential contribution to market instability. It also mentions other geopolitical and economic factors that could affect the markets, such as the threat of an Iranian attack on Israel and the possibility of a U.S. recession.

05:01

🤑 The Mechanics and Risks of the Japanese Carry Trade

This paragraph delves into how the Japanese carry trade operates as an arbitrage of interest rates. It illustrates the process with an example of borrowing yen at low rates to invest in higher-yielding U.S. assets. The description outlines the potential profits from currency devaluation and higher returns on investment. However, it also highlights the risks involved, such as the scenario where Japan raises interest rates, causing the yen to appreciate and leading to losses for carry trade investors if the invested assets decline in value. The summary emphasizes the dangers of margin calls and the potential for market panic and liquidation, which could exacerbate market downturns.

10:03

📈 The Reversal of Carry Trade and Its Market Impact

The paragraph explains the consequences of Japan's decision to raise interest rates, which can make Japanese bonds more attractive and lead to a rise in the yen's value. It discusses how this can cause significant losses for carry trade investors, particularly if they are leveraged and face margin calls. The summary describes the potential cascading effects on U.S. stock markets and the banking sector in Japan, which could suffer from defaults on loans. It also touches on the scale of the carry trade, suggesting it could represent a significant portion of the U.S. stock market, and the broader implications for risk assets, including cryptocurrencies.

15:04

💸 Debt, Inflation, and the Future of Japanese Monetary Policy

This paragraph examines Japan's high debt-to-GDP ratio and its implications for monetary policy, suggesting that Japan is unlikely to engage in further money printing due to its already substantial debt levels. The summary addresses the potential for an Iranian attack, U.S. recession fears, and the impact of these uncertainties on market sentiment. It also discusses the Federal Reserve's priorities, suggesting that it is more concerned with combating inflation than avoiding a recession. The paragraph concludes with a call to action for viewers to consider cash and treasury bonds as safe investments and to subscribe for further insights on market trends and investment strategies.

Keywords

💡Japanese Carry Trade

The Japanese Carry Trade refers to the practice of borrowing money in Japan at low interest rates and then investing it in higher-yielding assets elsewhere, such as U.S. Treasuries or stocks. This strategy is based on the expectation that the Japanese yen will continue to depreciate, making it cheaper to repay the loan. In the video, it is discussed as a potential factor in market volatility and is linked to the recent downturn in the Japanese stock market.

💡Deflation

Deflation is an economic phenomenon where there is a general decline in prices for goods and services, often caused by a reduction in the supply of money or credit. In the context of the video, Japan has been facing deflation since the 1990s, which has led to low interest rates and the attractiveness of the Japanese Carry Trade. The script mentions that Japan has 'basically stagnated since the 90s' and has 'faced issues of too much deflation'.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The video contrasts the inflation experienced by most of the world with Japan's deflationary situation. The script notes that 'the entire world has been facing a lot of inflation except for Japan', which is why Japanese interest rates have been lower than those in other countries.

💡Interest Rates

Interest rates are the percentage at which interest is paid by borrowers and paid to depositors for the use of money. The video discusses how different interest rates in Japan and the U.S. create an opportunity for the carry trade. For instance, the script mentions that 'the Japanese 10 years trading for 82%' compared to the U.S. 10-year treasury bond 'trading for 3.76%'.

💡Circuit Breaker

A circuit breaker is a mechanism in the stock exchange that temporarily halts trading if there are extreme price movements. The video script refers to the Japanese market's 'topics index circuit breaker hit' and 'bond market circuit breaker hit', indicating a significant drop in the market that triggered these mechanisms to prevent panic selling.

💡Margin Loan

A margin loan is a loan provided by a broker to purchase securities where the loan is collateralized by the purchased securities. The video explains how investors can borrow money in Japan at low rates and then invest in U.S. stocks on margin, leveraging their investment. The script gives an example of borrowing '$1,000 worth of Japanese Yen' and using it to invest in U.S. assets.

💡Leverage

Leverage in finance refers to the use of borrowed money to increase the potential return of an investment. The video discusses leveraging in the context of the carry trade, where investors can borrow at low rates in Japan and then invest in U.S. stocks, increasing their potential gains. The script mentions 'leverage again in the U.S. Stock Market' to explain the mechanics of the carry trade.

💡Debt-to-GDP Ratio

Debt-to-GDP ratio is a metric that compares a country's national debt to its gross domestic product (GDP). The video mentions Japan's debt-to-GDP ratio, which 'sits around 263%', highlighting the country's high level of debt relative to its economic output. This ratio is used to assess a country's financial health and its ability to repay its debts.

💡Liquidation

Liquidation in finance refers to the process of converting assets into cash, often at a loss, to meet obligations such as margin calls. The video script describes a scenario where an investor's leveraged position in Tesla stock drops in value, leading to a margin call and eventual liquidation, contributing to selling pressure in the U.S. stock market.

💡Margin Call

A margin call occurs when the value of an investor's margin account falls below the broker's required amount. The investor must either deposit more money or sell enough securities to bring the margin debt to a level that is acceptable to the broker. The video uses the term to describe a situation where an investor's investments have dropped in value, leading to a demand for additional funds or the sale of assets.

💡Federal Reserve

The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It has the responsibility to manage monetary policy, including interest rates and the money supply. The video discusses the Fed's priorities in the face of economic challenges, suggesting that it cares more about 'destroying inflation' than avoiding a recession, which is a key consideration for investors.

Highlights

Markets are experiencing a collapse, with the Japanese carry trade being a significant factor.

Japan's unique economic situation with low to negative interest rates has facilitated the carry trade.

The Japanese stock market and bond market have triggered circuit breakers, halting trading temporarily.

South Korea's market has also been affected, with selling restrictions implemented after a significant drop.

Japanese banks are experiencing significant stock value drops, with the second largest bank down 15.5%.

Gold prices are up, but cryptocurrencies like Bitcoin are down, reflecting a shift in investor sentiment.

Major US stocks like Tesla, Apple, and Nvidia are also seeing significant declines.

The concept of the carry trade is explained, involving borrowing at low interest rates in Japan to invest in higher-yield assets.

The risks of the carry trade are discussed, including the potential for increased volatility and losses if conditions change.

Japan's recent interest rate hike has led to a stronger yen, impacting the profitability of the carry trade.

The potential scale of the carry trade's impact on the US stock market is suggested to be as much as 10%.

Japan's high debt-to-GDP ratio is highlighted as a constraint on its ability to engage in further monetary easing.

The possibility of an Iranian attack on Israel adds geopolitical uncertainty to the market situation.

US recession fears and the Federal Reserve's priorities are discussed, with a focus on their potential response to inflation.

The importance of cash and treasury bonds as safe investments in the current market climate is suggested.

A poll among viewers indicates a general sentiment towards buying the dip or holding positions rather than selling.

The video concludes with a discussion on life insurance as a potential safeguard against market volatility.

Transcripts

why are markets absolutely collapsing

what is this Japanese carry trade we're

going to talk about that and explain it

in this video so you fully understand

the Japanese carry trade everybody keeps

talking about and why Japan could be

leading markets to crash in America of

course it could also be that we are now

under an imminent threat of an Iranian

and Hezbollah Leed attack against Israel

which threatens to be larger than

anything Israel has ever seen before

with Israel now warning that Israelis

could be without power for 3 days as

they face a multi-pronged attack

expected to begin within the next 24

hours if not tonight then tomorrow

night just crazy world that we're in or

is it just that the US might be going

into a recession or D all of the above H

well in this video we're going to start

by talking about the Japanese carry

trade and trying to explain it

now let's be clear right at the start

the Japanese stock market ain't doing

too well just in the last 12 hours the

Japanese Market well let's just put it

this way their topics index circuit

breaker hit no more trading for a period

of time bond market circuit breaker hit

no more trading for a period of time

South Korea in sympathy for what's going

on in Japan just decided you know what

nobody's allowed to sell after The

Cosby's down

4.6% zoom in on Japan for a moment nay

down over 65% the Nay 225 Nintendo

stocks down 11.3% but who cares about

Nintendo what are the banks doing in

Japan oh the second largest bank in the

country down 15.5% the largest bank in

the country like the equivalent of a JP

Morgan down

12.2% well at least Gold's up real gold

not digital gold because bitcoin's down

11% at the down 21% in the overnight

trading app Robin Hood you could look at

Tesla down 6% Apple down 6.9% Nvidia

down 6.75% and all Futures are red LED

by no joke small caps and NASDAQ 100 and

you've got the S&P down 1.42% Dow future

is also down 77% so this just a quick

little rundown on what the heck is going

on here this is a lot of pain why what

is going on well let's start with the

carry trade let's explain this so

everybody knows that the entire world

has been facing a lot of

inflation except for Japan they've

basically stagnated since the 90s and

they've faced issues of too much

deflation maybe they're not having

enough babies maybe they're not having

enough

Innovation who knows but they did not

have the inflation problem of the rest

of the world this meant that while Japan

Japan was actually lowering rates and

had negative interest rates everyone

else was Raising interest rates now this

does something very interesting because

when interest rates go up in let's say

the United States it becomes more

attractive to buy the 10-year treasury

bond so for example if the 10year

treasury is trading for

3.76% just like it is now and the

Japanese 10 years trading for

82% which Bond would you rather have the

10year debt paying you 3.7% guaranteed

and backed by the full faith and credit

of the US or the Japanese 10e paying you

just

82% it's a no-brainer an absolute

no-brainer you're going to buy the US

Bond and if you have any other currency

you're going to sell that other currency

you're going to go buy US Dollars and

you're going to go invest in that us

bond this creates a lot of selling

pressure on currencies like the Japanese

Yen so the Japanese Yen goes down in

value which enables something unique

called the carry trade okay now you're

going to have to roll with me on this

one because it's a little complicated

but I'm going to make it as simple as

possible okay here's an example of what

a carry trade looks like and and let's

just start extremely simple let's just

say right now you want to take on a

margin loan on stocks in America

it might cost you

65% in the US but what if you could go

to Japan and in Japan you could borrow

at

1.5% oh well that's a lot more desirable

why don't I go borrow in Japan and then

go invest that money in either us

treasuries which are literally yielding

more than what I'm paying on my debt or

how about mag six stock or mag s stocks

whatever you want right mag 6 mag 7 the

biggest stocks in America buy some

Nvidia buy the diot some Tesla whatever

this is essentially an Arbitrage of

interest rates that's what this all

comes down to now how does this go wrong

well first of all to understand how it

goes wrong let's understand how it goes

right let's say I borrow oodles and

Boodles of money in Japan and that

oodles and nooodles just to make math

simple right now we're just going to

call it $11,000 I go borrow $11,000 or

I'll call it ,000 Yen uh $1,000 worth of

Yen that's what we'll call it

$1,000 uh worth of uh Japanese Yen and

I'm going to take that money and I'm

going to use it to go buy us assets well

if the Japanese Yen keeps going down in

value it's actually going to be a lot

cheaper for me to pay off that money

like let's say I take that ,000 and I

put it into us treasuries over here well

every single year I'm getting my 3 or 5%

yield on money markets or treasuries

maybe even a little bit more so maybe

let's say over here I've all of a sudden

after a year got 1,050 bucks and the

Japanese Yen fell 20% in value so I

actually only have to pay back $800

worth of Yen over here this is great I

picked up 50 bucks very cheaply in

America so I'm plus 5050 over here and I

can now pay that Yen back with $200

fewer dollars so I pick up $200 over

here let's go baby I just made 250 bucks

25% chit Ching investing on the fact

that the Japanese yen is going down and

guess what the Japanese Yen usually goes

does like what is the Japanese Yen

usually do well because they're facing

deflation and stagnation it's usually

either stable

or it goes down with the exception of

very rare cases the Japanese Yen usually

just loses lots of money it's just kind

of unfortunately the way it's worked so

for example if you pull up the US uh to

uh Japanese Yen valuation over here you

can see there are very rare cases where

the Japanese Yen spikes once over here

in '95 over here in 2011 you can see

over here the Yen's actually been

plummeting so it's actually made the the

carry trade more desirable I mean you've

dropped 27% in the value of the Yen so

that example I just gave on the iPad

over here this has been printing money

it's been absolutely minting minting

minting yeah to close this door I here

the children again hold on a sec double

I got two two sound doors over there

let's close this stuff anyway so you've

been printing money doing this carry

trade because the Japanese y just go

down down down so people keep adding to

their bets adding to their bets adding

to their bets adding the bets okay cool

like you're winning that's wonderful

like Kevin what's wrong with this ah yes

yes there has to be a downside of any

trade right of course there is so let's

say you decided to take your $1,000 over

uh in Japan so you're going to borrow

$1,000 worth of uh Japanese Yen okay

so we take our $1,000 over here $1,000

worth of Japanese Y and now what we're

going to do is we're going to invest

that into the dip on Tesla okay and

let's just say we bought Tesla just for

Giggles because this could be anything

okay you're like man Tesla's going to

the Moon baby I'mma buy it at

270 and then of course you know Elon rug

pulls you and you know delays the robo

taxi event whatever okay we we don't you

put any placeholder there this is not a

Tesla video is could be anything it

could be Nvidia at darn things down like

25% from its peak you know it could be

Tesla obviously you're going to be down

about 30ish per it does not matter what

it is or you have a leverag position

doesn't matter what it is let's go with

you buy Tesla at 270 okay you know what

forget even what price it is you just

put $11,000 into Tesla stock right here

because you borrowed $1,000 worth of Yen

you put it all into Tesla stock but wait

a minute

if you put $1,000 into a broker in

America why are you just going to use

$11,000 come on man reg te margin 50%

down I get to buy

$2,000 of Tesla with

$1,000 of a deposit right that is a

typical margin Loan in America so now I

borrowed the money cheap over here the

money that I borrowed very cheaply in

Japan I'm now going to leverage again in

the US Stock Market but why was this

matter I mean the Japanese currency

keeps devaluing everything should be

fine oh but wait then all of a sudden

Japan says hey look everyone we finally

got it up let's raise interest rates

because inflation is finally moving up

uh what yes this is exactly what Japan

did last week they raised interest rates

25 basis points and they were already at

positive so they just went up another 25

BPS and what happens when countries

raise their interest rates that's right

their bonds become more desirable

especially since Japan is now going up

and everybody else is cutting so you're

getting more of a yield in Japan so what

all of a sudden happens to the value of

the US dollar when yields go down oh the

dollar goes down the Japanese Yen goes

up which exacerbates the spread because

you're going in both

directions and so oh over the last month

so over the last 30 days the Japanese

Yen has appreciated

10% o o oh but wait a minute I borrowed

$1,000 worth of Yen over here how many

dollars do I need now to repay that loan

in Japan well now because it's 10% more

expensive I need

$1,100 to repay my loan in Japan no

problem no problem what's my Tesla stock

doing oh God it's down

30% and I'm on margin

oh okay so just to make math a little

fun here actually the example I did is I

went with 35% so let's assume it's down

35% that's down

$700 on

$22,000 so that means all of a sudden I

have

$1,300 left over here but wait a minute

I'm such a dgen i also borrowed over

here so I actually only have $300 of

equity $300 of equity out of the

$2,000 of stock I bought is

15% oh who's that calling oh it's Mr

margin calling a now you get liquidated

sure you get your $300 back but you got

liquidated which contributes to more

selling pressure in the United States

oh no but wait a minute bro now I only

have $300 left and I have to pay an a an

$1,100 loan off in Japan and now Japan

is going hey bro margin's calling and

you're like what why because sir you

have $300 of collateral left on the

$1,100 loan you just took out because we

could see what you did with your money

we want our money back you're at margin

levels and you're like okay guess I'm

filing BK and getting host boom now you

have to either borrow more from

somewhere else to pay off that $1,100

loan or you're defaulting and you're

destroying the banks which now it

totally makes sense why the banks are

collapsing in Japan well their stock

valuations are collapsing because they

are getting burned over here on their

debt as well so they burn us in our

stock market and they get and they burn

the banks over over there now how big is

this trade well nobody really knows

Kathy Wood thinks it could be as much as

10% of the United States stock market

that's massive like as much as1

trillion of Leverage in all risk assets

risk assets crypto stocks doesn't matter

okay this is always funny because I talk

about this in my course member live

streams and people are like oh you know

sometimes people are like oh but Kev

crypto is not a a a risk asset like it

is the definition of risk asset why do

you think gold is up and bitcoin's down

11% right now your boy Kevin by the way

uh let's just say this is not an

advertisement or anything but I've been

talking about this for for a couple

weeks now since probably since about

July 11th like everything really hit the

fan but um on on the fund I manage we're

NE we're like 5% short Bitcoin I wish I

had more short Bitcoin right now because

that's going to do really freaking well

tomorrow remember if you want any might

buy sell alerts or anything

meetkevin.com you can learn everything

in the courses I'm building your with

you should be part of the course member

live streams because we talk about this

kind of stuff on a daily basis or even

chat in our Discord server uh but anyway

what is next well maybe Japan can just

print more money right and they could

sort of solve this issue right well so

far the uh Japanese cabinet is saying

they're watching Market moves with a

sense of urgency and uh don't worry

share prices are determined by

determined by a variet of forces and um

yeah we're just going to keep

watching that doesn't really inspire a

lot of confidence so what about the

money printing part Kevin like when when

are they just going to turn the printer

on again and make all this pain go away

ah okay well in order to understand that

we have to consider what Japan's debt to

GDP is and compare it to where everybody

else is in the rest of the world so we

have a lot of debt in the United States

we know a little over 100% here Japan's

debt to GDP sits around 263

per. that is higher than Venezuela and

it takes the number one spot for being

the most indebted country in the world

as it compares to GDP that's pretty

pathetic so I don't think they're

turning on the money printer anytime

soon because they freaking

can't add to this the fact that an

attack by Iran is likely imminent and

add to this that people are pricing in

re recession fears in America and you've

got a whole heck a lot of uncertainty

now does that necessarily mean that the

United States stock Market is going to

sell off on Monday well the Futures

Market says so but that was during the

Japanese stock market open maybe cooler

heads will prevail and everything will

be hunky dory in the morning everything

will start going up again we'll have a

nice little rebound and maybe we'll open

up to just a little byy the dip

opportunity and nothing else to see here

everything's fine or things will

completely panic and everybody will take

every opportunity at a bounce just to

sell more stock because this is a

sinking ship and everybody sees the exit

over there well according to a poll I

ran on X the ladder doesn't seem to be

the big priority in fact according to a

poll I ran on X which you should follow

me there at real meet Kevin with

6,761 results 44.6% of you said yes

Kevin by the dip 34.3% of you said I'm

holding and only 21.2% of you suggested

that you were selling also when I

suggested that Bitcoin might be a risk

asset somebody replied to me and said

but Kevin they're investing in Bitcoin

for the

tech right that's going to help save you

in these Market moves it won't anyway so

I'm curious what do you all think what

are you all going to do I will make the

argument that probably the safest

investment right now is Cash followed by

treasury bonds which might continue to

collapse in yields now you might be

thinking oh but Kevin the Federal

Reserve is going to come bail us out

right well this is where you have to ask

yourself what does the FED care more

about avoiding recession or avoiding

inflation H see I ran that poll as well

and the vast majority of people said oh

the the FED wants to avoid a recession

and to that I

say I'm out of a drink you're wrong the

FED cares way more about destroying

inflation because inflation ends

countries recessions are healthy so

buckle up buckle up the FED ain't coming

to bail you out anytime soon now if you

want to know exactly what I'm trading

make sure you're part of those courses

over at Meek kevin.com always make sure

to hit that subscribe button we're about

to cross 2 million subscribers so if you

haven't hit that button yet and you're

not part of the pre-2 million subscriber

Clan I don't know what yall waiting for

we got a great Clan going on here okay

the mkk I mean the MKC it's great come

join thank you so much for watching and

we'll see you all in the next one

goodbye and good luck by the way if any

of this makes you nervous you get life

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life see you all

bye these things that you told us here I

feel like nobody else knows about this

we'll we'll try a little advertising and

see how it goes congratulations man you

have done so much people love you people

look up to you Kevin P there financial

analyst and YouTuber meet Kevin always

great to get your

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broker and becoming a stock broker this

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