"An Economic Hurricane Is Coming" - Recession, Money, Power, Chaos & WW3 | Patrick Bet David
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- Опубликовано: 2 ноя 2023
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In this episode we discuss the FTX Collapse & Upcoming Market Crash. Entrepreneurs Tom Bilyeu and Patrick Bet David go deep on the current economic landscape.
Welcome to another ground-breaking episode of Impact Theory. I'm excited to have the hard conversations that will potentially help you shape the life you want for yourself and your family.
In this episode, we dive straight into the recent FTX verdict that is sending major ripples though the financial world with the announcement of a potential 100+ year sentence on the horizon.
Patrick Bet-David, founder, creator mentor and highly successful serial entrepreneur joins me to explore the concept that only the paranoid survive. This isn't about living in fear, but rather about being alert, aware, and ready for any curveball life might throw our way. It's about realizing that paranoia can be a powerful tool in taking precautionary measures to safeguard your future.
The FTX case is a stark reminder of the importance of vigilance and the critical need to stay informed.
We've all had our fair share of missed opportunities, times when we wished we'd paid closer attention or taken a different path. But it's not just about regret; it's about learning to optimize for options.
Our exclusive conversation features insights from Patrick Bet-David, who warns, “If you’re going to spend more time on Netflix, more time watching all these shows, [...] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
This episode is not just about facing the hard truths, but also about developing resilience and adaptability. It's about equipping you with the tools and mindset necessary to navigate the turbulent waters ahead. So buckle up for an enlightening journey into the realities of success and economic landscape.
To Pre-Order Patrick’s new book “Choose Your Enemies Wisely” click here - www.chooseyourenemieswisely.com
Chapter Markers:
[00:40] FTX Fraud Verdict
[17:17] Bigger Than A Recession
[41:38] Global Meltdown
[54:23] Only the Paranoid Survive
[1:08:35] The Falling Empire
[1:22:04] “Sell Me On America”
[1:41:07] A Stance For Values
Patrick Bet-David Quotes:
“Who in the hell in the first place trusted giving this guy this much money without a board?”
“The best news here is a certain level of accountability taking place.”
“Study closely who you’re in business with.”
“Ask more questions before you jump in with excitement cause other people are getting involved.”
“You’re going to see the first trillionaire in the next 24 months cause none of this is going to affect the guys at the top.”
“If there’s anybody that should be against printing money, it’s low and middle income families, [...] the poor and middle America can’t keep money, they spend it, and when they spend it what do they buy, they buy a product owned by somebody in the S&P 500…[...] money flows up.”
“Middle America is getting smaller and smaller and smaller every single time we print money.”
“Right now you have to be looking at this sh*t’s out there. What part of it do I control? What part of it do I have no control over, [...] I have to figure out how to increase my market value or else I’m going to get crushed.”
“If you’re going to spend more time on Netflix more time watching all these shows, [...] if you’re going to spend more time on that than building value for yourself, learning new skill sets, yes the market’s not going to favor you the next 18 to 36 months.”
“Success is really a game of mixing optimism and paranoia, you’re going to need both.”
Follow Patrick Bet-David
Website: www.patrickbetdavid.com/
Twitter: / patrickbetdavid
Instagram: / patrickbetdavid
Follow Tom Bilyeu:
Website: impacttheoryuniversity.com/
Twitter: / tombilyeu
Instagram: / tombilyeu
What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over 150k, but I'm uncertain about risk mitigation strategies.
I'm sick of this mundane conventional knowledge, guys. Head to Borlest and read the forbidden books, only then will you truly gain knowledge about money
I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It's important to be proactive in investing as cash may not be the most advantageous option during these times.
I frequently contemplate whether those who navigated the 2008 market crash found it comparatively less challenging given the distressing conditions prevalent in today's markets. In just this November, my portfolio has suffered a substantial loss surpassing $27,000, sending my profits into a downward spiral. The disconcerting truth is that this tumultuous market environment is jeopardizing the prospects of a secure retirement. It is disheartening to observe my reserves stagnate without any indications of growth.
Patrick is a real man and he understands what makes the world turn. He cuts through everything and clarifies.
This is the best conversation on RUclips so far....I hope Patrick and Tom continue this dialog. This is how we heal.
Just got my 4th payout. I can’t tell you how glad I am that I got into stocks after being introduced to it some months ago.
Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months, what am i doing wrong?
This was good. I feel we also need expose videos on "not a financial advice" RUclips influencers. 😆
Two hours with two of the most thoughtful, intelligent and articulate men around today ❤ Great interview on both sides!!
Right now the markets are crazy but there are still hidden opportunities therein. Having monitored my portfolio performance return huge six figures from the last 2 quarters of last year, I have learned why the market will remain a money den for those who know where to look.
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
I believe this episode marks a pivotal moment for Tom. It might just be the most significant one in his content journey. As Patrick rightly pointed out, Tom has a substantial following, and I've sensed he's been maintaining a neutral stance for a while. I'm excited to witness the emergence of a new, more assertive Tom
Wow.. Patrick is a realist and is able to put into words what so many of us think and feel these last few years. Thank you for have a thoughtful, adult discussion with him!!
What Patrick said the last half of the video brought me to tears. God bless him and God bless the USA!
It really shouldn't matter if the market crashes or not. Its supposed to be a chance to buy more, for those who know where to look. Only fools sell during a market crash. My work colleague accumulated over $1.8m in profits alone during the last crash and even pulled it off with ease in a bad economy. Matter of fact, I am so looking forward to the crash.
PBD is a ROCKSTAR! I love that he does not gaf about speaking truth about politics, religion, finances, etc. Much RESPECT!
Very interesting to see PBD go from being the interviewer to the interviewee. Being able to do both just shows his intellect. Love it ❤
My portfolio has good companies, however it has been stalling this year. I’ve approximately $700k stagnant in my reserve that needs growth, any suggestions to grow my portfolio will be highly appreciated.
Is there a chance that what is holding the market up is speculations that the economic policies would be favorable going forward? I think it's important to stick to stocks that are immune to economic policies. I'm looking at NVIDIA and other AI stocks. Maybe there are other recommendations?