"The Crash Will Be WORSE Than 2008" | Patrick Bet-David’s Last WARNING

so I believe a market crash and a recession is around the corner and I think it's going to be worse than what a lot of people think is going to be and I don't think 90% of America is ready for let alone the world is ready for it but those who are are going to benefit from it the next 2 to 5 years we'll talk about the top 10 Market crashes we've ever had the duration how ugly it was the cause of it we're going to talk about how to be ready for the difference between a market crash and a recession what other experts are saying about it at the end of it you'll be able to make a decision what decisions you're going to make with your finances and proper sequencing moving forward first of all a couple things that we're going to be learning today the difference between a market crash and a recession why recessions are important how to prepare for them and how to make your Millions whatever the dollar amount is for you during and after a market crash so my opinion I believe a market crash is coming 6 to 2 24 months from then the only reason I put that 6 to 24 is because the fed and our politicians are trying to do whatever they can through purely fake way of increasing interest rates or different kind of build back better plans whatever they're going to be doing to put money into the system to delay this market crash and the recession that's coming it could be 6 months it could be 12 months it could be 24 months but it's coming my market crash philosophy that I follow number one is every time a time like this comes and I don't believe a time like this is going to come for another 20 to to 40 years maybe not even in my lifetime because the perfect storm of what's going on today with how Co came we were asked to stay home but money was sent home we printed trillions of dollars of money and a lot of it went to the rich some guys went from being worth 20 billion to 300 billion some went from being worth a million to $300 million and then some of them are going to be corrected today and then at the same time inflation gas Ukraine Afghanistan understand there are so many different things that are hitting at the same time 128 month economic expansion that we're being affected by it so if you're ready for it this is when you add the next zero to your net worth if you're worth a 100 Grand you ought to be worth a million dollar in the next 12 24 36 months if you're worth a million you ought to be worth $10 million if you do it right the next two three years if you're worth 10 grand you ought have $100,000 maybe even a million dollar but the key is to chase the next zero your next zero whatever that zero may be now you may say Pat I'm only worth $100 well then go to $100,000 it doesn't matter what it is but chase the next zero that's high process and number two is recessions are a good thing for Marketplace God knows we need today's recession I believe we need to actually go through a recession and our politicians need to allow this to happen but it's actually good for the marketplace I'll explain to you why it's the best time to build wealth and only the prepared will prevail during this time so this is not a good time to stay in the business but if you you do in the next 3 to 5 years the opportunity is going to be great for you so the 2001 Doom bubble happened I got started on 910 it was the worst time to start with Morgan Stanley Dean Witter we had 3600 employees at World Trade Center when World Trade Center went down I was supposed to go to New York they shifted our training and I went to San Francisco instead and before the next recession while this took place this is when I made my first $100,000 but during these times scary times everybody panicked I took a different strategy simply because back in the days every time I panicked I didn't make money so I'm sharing with you some strategies that worked for me so now how concerned should you be about the economy today let me share with you what a few people are saying here's a guy named Elon Musk you may have heard of this guy some call him a genius some call him a disruptor some call him an innovator some call him the greatest troll in the world because he knows how to get on people's skins but here's what he did say Zach asked him do you still think we're approaching a recession he said yes but this is actually a good thing it has been raining money on fools for far too long some bankruptcies need to happen also the co stay-at-home stuff has tricked people into thinking that you don't actually need to work hard root Awakening inbound so where is Elon going with this where is Jamie Diamond going with this from JP Morgan Chase he said the FED only has a 33% chance to avoid a recession what so that means there's a 66% chance we're going into recession yep based on what Jamie Diamond said Carl icon legendary car I on a man many fear in the public sector I think there very well could be a recession even worse what do you mean even worse this is a money guy he's going to lose a lot of money if there's a recession but he's probably prepared for it why is he saying that publicly he's in the space that it's better for people to be thinking bullish not bearish Leon Cooper Moon who on the podcast here 67 weeks ago he's worth $2. 5 billion he said it's not written in stone but that would be my guess he says I think we're going to have 40% Market correction around 40% Market correction but he said it in a way where yeah it's normal it's coming soon cuz he's been around the block for 40 years and he's seen these things happen many many times so this is not coming from somebody that just got into business 5 years ago well as Fargo Co warns us it's going to be hard to avoid some kind of recession we can go on and I can quote you 10 other people what people are saying but that's not the key let's just get into should we be concerned about a market crash 75% of Fortune 500 SE said this month that they were bracing for a recession 75% of Fortune 500 these are the 500 biggest companies in America said they're praising for a recession they said that this month okay this is a Forbes article so now it's now all about an anticipation game what's an anticipation game you can go and fight and all you can do is Swing okay and you're not playing defense and all of a sudden you get caught and you lose right you could get lucky and knock somebody and oh my god look what a great fighter he is but if you look at Mayweather who's undefeated his game is what he's the anticipation game right everything about business right now is to anticipate great generals anticipate great basketball coaches anticipate great military leaders anticipate great presidents anticipate great Founders anticipate and you ought to play the anticipation game what could it look like if we have a recession today what industries will take a hit how bad will it be who will go out of business who will it benefit how can I put myself in a certain positioning to benefit from this you know what do I need to do from now before it happens who should I be reading what article should I be reading where's a place where I can get a lot of this information out there for myself but it's all about an anticipation game right now so what you're doing today to prepare what are you doing today to prepare the more you do the preparation now so some say what if it doesn't happen great if it doesn't happen you don't buy a life insurance policy because you're going to die tomorrow you know we don't have a stronger military because we're going to war tomorrow you don't put money in the bank for emergency fund because an emergency is going to happen no you're putting it because if it does happen so if we go into recession if a major market crash happens are you prepared for it it's what you ought to be asking yourself so now recession is a period of temporary economic decline during which trade and industrial activity are reduced ready generally identified by a fallen GDP in two successive quarters if it's two successive quarters do not be surprised if you hear some experts saying we're officially in recession I don't know if the White House is going to say but don't be surprised if some Economist say we're officially in recession okay so now what is a market crash a stock market crash is a sudden dramatic decline of stocks prices across a major cross-section of a stock market resulting in a significant loss of paper wealth crashes are driven by Panic selling and underlying economic factors they often follow speculation and economic bubbles big difference one is a day or a month the other one is two quarters in a row so now what happens during a recession companies go out of business employees get let go borrowing money becomes harder consumer spending decreases stock market goes down these are things that happened during a recession so here's a visual when you look at this here this is a picture of a forest it looks like it's sunny outside but not if you're at the bottom who's getting all the sun who's getting all the you know love who gets the most of the rain when it rains the big trees at the top how about the ones at the bottom that nobody sees you're not getting any water you're not getting any you know rain you're getting maybe some of it you're barely getting any sun so it's pretty dark right above those trees is bright right okay the big trees are the big companies that have been getting all the funding the bailouts the dollars all that other stuff right there are a few big trees that catch all the sun and the rain a few big companies that hire the most best talent it's hard for new younger companies to grow up and compete with them kind of like what I was just talking about until a forest fire happens naturally naturally forest fires go through natural wildfires every 5 to 10 years there's a phrase for you can go look it up okay when the natural Wild Virus happens you can see the people on the right they're scared this is a natural cycle that we go through 5 to 10 years the US economic cycle have lasted above 5 and 1/2 years on average since 1950s in recent years we've closer to 10 years okay so when it happens this is what it looks like right after the fire it's not pretty it's ugly it's Bleak it's dark but very quickly it looks like this okay and it gives opportunities for people like yourself to make a name for yourself this is coming this happens it happens every about decade or so and when it does those who are prepared for it hopefully somebody like yourself they flourish so now why are recessions a good thing path companies go out of business room for new companies to grow starts a decade or so of growth and you'll see why here in a minute no more overpriced Talent there's a lot of people in America right now that are overpaid because they threatened their company that if you don't let me work remote I'm going to go work for another company so companies got scared so they gave a raise I run companies I go through these conversations all the time they gave the raise so imagine the guy went from 60 Grand to 80 grand then the guy that got the raise at 80 grand his title change on LinkedIn he called a few different head hunters and he said I'm looking and then the guy took the resume of the guy with the LinkedIn profile and he took that $80,000 went to different companies cuz the recruiter makes 20% so he doesn't care he's hoping you get $100,000 salary that $60,000 person goes to $80,000 goes to six figure salary with a $10,000 signing bonus that can work from home and he thinks he's fully excited oh my God I went from $60 to $100,000 plus 10 grand signing bonus within 5 six months this happened all the time in a market employers experienc this but then today the Market's going to expose that person and realize that person is not $100,000 person that person's going to go back to a $55,000 a year job it's going to happen next 6 12 24 months and then he's going to say oh my gosh you know what's this all about but the resume is going to read four jobs in the last three years and employers don't like to hire people with four jobs in 3 years they just don't and they ask those who jumped around from places to places to places are going to pay price for it so no more overpriced Talent access to Talent previously unavailable there's going to be a lot of I remember in ' 08 you would go on jobs. com and you're hiring somebody there were thousands of peoples with MBA that are looking for jobs who got fir thousands on top of thousands who had NBAs fully qualified who are looking for regular jobs cuz they can't find a job that's what's going to be happening in the next 6 12 24 months again inflation hit 40-year high gas prices jumped to 48% year-over-year rental rates have increased for eight consecutive months the average rent for a two-bedroom home in US is about $2,000 according to research from rent.

com up 22% from a year ago so from $1600 to around $2,000 you may say but but that's only 400 bucks that's a car payment and insurance that's a lot of money right there for the average worker groceries are up about 10% year-over-year and here's what's happened to S&P 500 is this an indicator of what's about to come everyone's asking that question we don't know yet how bad will things get few things to keep in mind we've had a lot of fake success the last couple years okay there's been a lot of Bitcoin millionaires there's been a lot of people that are flaunting money but they don't really have a way of making money not saying Bitcoin is a bad thing or ethereum is a bad thing or stocks are a bad thing but there's been a lot of fake success nobody knows whose success is real we fed so much money into the market it's going to go somewhere and a lot of people got it those who got lucky will be exposed the next 2 three years those who didn't get lucky will capitalize the next 2 three years political uncertainty not going to be pretty nobody knows what's going to be happening Russia Ukraine you know Middle East NATO there's a lot of things going on there inflation is not looking good the economic expansion after 2020 was pumped up by fake success we have economic expansion 28 months yeah but we never really finished it off the next crash would be a com double crash on top of the 2008 recession I'll explain to you why here in a minute so Churchill once said the farther back you can look the further forward you are likely to see so let's go back a little bit and see what are the top 10 biggest Market crashes in the history of us so the number 10 is what we went through during pandemic it was February 19th 2020 to March 23rd 2020 that's that's what you call a market crash look how long it lasted 33 days the market tanked 34% do you remember that I clearly remember that everybody was scared but that was not a recession cuz it's not two quarters that was just 33 days right ninth one is computer trading from August 25th 87 to October 1987 lasted about 2 months Market drop 36% com Bubble Plus 911 march 102000 to October 2nd 2002 that's a recession Market drop 37% duration 26. 8 months World War II crash October 39 to April 28 1942 last of 32 months Market dropped 38% Panic of 1907 it lasted 11 months and the market crashed 40% the continuance of Great Depression from 32 to 33 it was about 5 1 12 months Market dropped 41% the USD off gold standard Watergate OPEC all that combined it was about 21 months Market dropped 48% number three ready Great Recession this is just 15 years ago folks this is what you need to be looking at 0709 it was 17 months the market dropped 54. 1% some of you guys are too young to say who's Leman Brothers but some of you guys are my age you're 40 plus and you're like lemon's brothers was like Lima's Brothers they went out of business do you remember Countrywide they went out of business do you remember WAMU it's a $330 billion company Chase P them for 1.

9 they went out of business Meo Lynch was bought up by Bank of America now they still say Meo Lynch but it's a Bank of America company a lot of these companies are going to be going through it as well no one in a million years thought lemus is going to go out of business until they did companies that nobody thought was going to go out of business they went out of business during this time New Deal programs were cut and tax increased March 6 1937 to 38 this lasted 13 months Market dropped 55% and the worst market crash you already knew this from 1929 to 1932 last of 34 months Market dropped 89.