you've probably heard about this big american debt bomb that we're all facing and i'm not just talking about the federal government there's problems with debts in the city you live in in the state you live in and all the corporations in your state and you and your neighbor and your co-workers as well so i want to give you a rundown of all these debts how it's all going to play out when is this going to implode and most specifically what does this mean for you what are some action steps


i'm going to give you nine of them nine action steps you can take right now to land on the right side of this because it's happening either way some people are going to get wiped out as this dead bomb explodes and as i'll tell you later in this video it doesn't explode it's going to be a long drawn out grading drag for a long time but is this going to keep on getting worse and worse and worse squeezing you more and more and more and for most people they won't take the right actions they won't take


the nine action steps i tell you in this video which will help you out a lot we're going through this one way or another going through this either way so you're going to want to land on your feet and help the people that you care about for many of you this is your first time here my name is peter leeds i'm the small stock specialist and you might ask yourself why you focus on small stocks in the peter leeds newsletter because they produce the biggest gains and understand that nothing we say


anywhere especially in this video is intended as personalized trading advice for you i'm going to start by summarizing the current situation that you are in right now and understand that the american dollar is just an idea that we all agree upon that's true of any fiat currency a currency not backed by anything is all just something that the masses all agree upon its worth its value so that's the confidence in the dollar is what gives us its value right now and i want to tell you before we start this is


a very heavy video it's not meant to stress you out but it probably will it's not meant to make you nervous or freak you out but it probably will but i do believe that by looking at the problem right in the face by staring into the sun so to speak it'll help you know where to land on the other side of this how to get out of it how to let this happen it's going to happen either way it all happens in front of you but what did you do while it was happening has it played out did you get wiped out with everybody else or


did you actually help yourself and your loved ones by being smart about how you prepared for it how you got ready for it and the actions that you took so the problems are that we have excessive debt levels across all strata of debt and that's including you and your neighbor and your coworker it's also the corporation where you work at possibly the city you live in the state that you live in and even the country that that state is in a lot of times the city is asking for money from the state because


they don't have enough money and the state is asking for money from the federal government because they don't have enough and the federal government doesn't have enough money and yes they can just print unlimited amounts of money out of thin air and give it to whoever they want so technically they will never default but they'll be defaulting through inflation all of a sudden the value of your money even if you're getting a thousand dollars in your pension that thousand dollars is


buying much less than you expected it to when you started paying into your pension in the first place there's gonna be all sorts of pension fund problems something to keep an eye on if you know anyone that that might affect and there's tons of unfunded liabilities like social security for example where they say we know we promise to pay you we are going to pay you but we don't have the money we'll just call that an unfunded liability we know we can't pay that even though we promised it and you


expect it we know we're not going to pay it so we'll say it's unfunded we don't even count it against the federal government's debt we'll say that's a different thing that's something else it's unfunded liabilities that's not actual debt i argue that it is debt but what do i know so we've got this universe of all these debts and it's all moving around there's a lot of moving pieces and that's my latest book i talked about dancing on quicksand that


section of the book is about that you're trying to keep an eye on all these multiple data points but they're moving through in motion as you're doing that so it keeps changing your findings it's kind of like dancing on quicksand is what i said but to keep this video organized because it's going to be big i'm going to go through really quickly and we're gonna start through the stratas of debt we'll start with the federal debt we'll work our way down really quickly through to the most


important part of the video your level of debt what you can do about it the nine action steps you can take to land on your feet so let's get right into it we'll start with the federal government the tax code that we have is unrealistic unfair confusing difficult and inefficient meanwhile we have a taxation system which punishes productivity and rewards lack of productivity but at these near zero interest rates in 2021 last year at those low low interest rates how much was the carrying costs on the


national debt the federal government has 30 trillion dollars of debt what was the carrying costs on that amount it was 562 billion dollars just to pay the interest to float the debt that we have without paying down the principal we're paying 562 billion dollars just for the interest on that level of debt what could we do with 562 billion dollars fill a few potholes have a couple of social programs but instead we're just burning it up paying for the interest on the debts that we've accumulated with no end in


sight the debts are getting bigger and bigger as we speak every small increase in the interest rate for what you're paying on the debt every small increase it's going to result in hundreds of billions of dollars more than we have to pay just to float the debt and if you look at last year those carrying costs before interest rates started to rise and they're not done rising yet those carrying costs worked out to 1.5 billion dollars per day which works out to about a hundred thousand dollars per minute


so where does this national debt come from the national debt is basically just all of the deficits that we run every year added together when you overspend by 50 billion dollars going right to the national debt and some of the stats in this next part are from richard mills who wrote a really good article for mining.com in 2021 the federal government brought in revenues of about four trillion dollars however the deficit in fiscal 2021 was 2.8 trillion meaning that they spent 2.8 trillion more than they collected


how did they collected the collective from excise taxes income taxes corporate taxes but they don't collect enough in taxes to cover how much we spend that additional 2.8 trillion just goes on to the total amount of debt that we have as a nation the congressional budget office projects deficit of 1.3 trillion dollars in 2022 and every year until 2031. the federal debt at that point is projected to be an astounding 43 trillion dollars but wasn't it astounding when it was 30 trillion i thought it was astounding


when it's 10 trillion oh it's going to be astounding then at 43 trillion no one's looking at this problem now they're all looking at it down the road because all we've known is that you kick the can down the road everything goes on as it always has and our great grandchildren can pay for it it's over we've kicked the can as far as it's going to go we're at the end of the road the entire world can now see that there's a deterioration in the value of the american dollar because


we're being too loosey-goosey willy-nilly which is printing new money to pay for everything that's why you're seeing such a change which i'll get to in a minute you've seen such a change in the way that other nations are willing to support us by buying american treasuries to cover over our overspending or our deficits and this next part is janet yellen and in this part she's talking about the one trillion dollar u.s coin they're going to mint out of platinum that they're


talking about and no one talks about it anymore but that hasn't gone away just so you know they're still thinking about this batshit crazy idea about a way to pay american debts and one thing i want to point out too in this part notice that she says um before she says that america um will pay its debts that's a tell but check this out this is about the one trillion dollar coin it's really a gimmick and what's necessary is for congress to show that um the world can count on america paying


its debts and what i would argue is that the one trillion dollar coin is actually the manifestation and the identification that america is not going to pay its debts they're basically grabbing something off their desk and saying this back scratcher is worth a trillion dollars we got enough money now everybody pay all the fire fighters and the soldiers and the teachers we have a one trillion dollar back scratcher it's absolutely bad crazy is no one noticing this is it just me am i just a wet blanket i think that we've


lost all control and i've said that for a while now i think the federal reserve is in a situation where they're sacrificing your quality of life to try and make it look like they know what they're doing they're doing the right things and they're doing everything wrong foreign countries held 7.55 trillion in u.s treasury securities in 2021 of the total japan on 1.3 trillion and china owned 1.05 trillion but that's actually already out of date because china is not one of the biggest buyers


of us treasuries china is one of the biggest sellers these two have more treasuries than japan china is one of the nations right now that is having a bias against u.s treasuries or releasing some back into the wild they're buying less for sure china is not one of the biggest buyers of u.s treasuries quite the opposite there's a growing disinterest of foreign investors in terms of buying us treasury debt but it isn't only treasuries that make up the 30 trillion national public debt the federal government currently owes


23.5 trillion in debt to creditors and 6.5 trillion dollars to itself the latter is debt held in social security and other government trust funds so what are we spending all this money on we are bringing in a lot of money four trillion last year and we do have a lot of money we have a lot of debt more debt than money but what are all these expenses which are driving up the national debt so aggressively well i'll tell you about the top three and number three the 752 billion dollars earmarked


for the u.s defense budget social security programs and disability pensions are one trillion those are the third and second largest expenses for the federal government and the number one expense in 2021 was medicare and medicaid and other health care programs at 1.4 trillion dollars this is what you're going to see having trouble or weakening when we realize we can't pay our debts there'll be lower budgets earmarked for these things there'll be less for all three of those things i mentioned and everything else


the government spends money on there's not the money there we have to take on debt the ability to take on debt is getting more and more difficult by the day because a lot of nations are not interested in floating our lifestyle and they realize if they buy a u.s treasury bond it may be losing value by the time they cash out of it a country's ability to pay off its debt is dependent on how large the debt is as a proportion of its economy that's the debt to gdp ratio and the country has a debt to gdp ratio so do


you personally the way i look at your debt to gdp ratio is how much debt do you have what is your salary and that number comes out to on average about 130 percent for the united states total debt accounted for 895.4 percent of the country's gdp in 2020 compared with the ratio of 870.7 percent in the previous quarter and this is where you might say then it's obviously not a problem if it got that big if it got that out of hand obviously there's not a problem here there's nothing that needs to be fixed


because we can just keep on doing this well let me ask how is that working out for you because if you didn't have the carrying costs and you used just that money to pay for things that would really benefit your quality of life i think that that would be much better for you but instead we're just trying to keep this volleyball of crushing debt elevated by taking all these ridiculous actions that were acting like they're gonna fix the problem like a one trillion dollar coin for example


now listen to this part very closely some worry that excessive government debt levels have ramifications for the dollar the ability of the us government to pay its bond holders and regular citizens because spending on important social programs is crowded out by higher debt servicing costs yeah right and by the way keep sticking with me here because this is the longest part the federal government and then it makes it easier to go through everything else really quickly and we're going to fly through that stuff so stick with me


you're going to learn a lot in a very short window of time starting right now there are five ways of reducing the debt higher taxes less spending debt restructuring monetization of debt and most drastic a default monetization of debt is when they do quantitative easing they create new money to pay for all the stuff that they already spent but i would argue that debt restructuring monetization of debt and a default are all three forms of default and lastly one more thing in this article said that


longer dated bonds usually pay higher yields than shorter term bonds which are less risky and i put in total capital letters right there on my script when i was working on this i said but not now right now i told you in the recession prep video about the recession coming up in 2022 one of the ways you can tell when recession's coming is because the yield curve inverts and all up and down the yield curve we're starting to see inversions now this tells you that a recession is coming up in a number of


months so we're going to see maybe not next month maybe not next quarter but we're on our way to a recession i believe we're going to have a big recession and i believe it's going to be in 2022. and speaking of bonds you always see these frames in the background here these are some stock certificates but this one in particular is actually bond payments this is a bond this is what they used to be like and you can attach each of these little corners of paper you pull off you go down to the new york stock exchange


you hand it in they give you your 25 bucks or whatever the bonded titles you do that's where the phrase coupon payment comes from it used to be actual coupons that you pull off and you deliver the stock exchange to get your money and here's a chart of the interest rates over time and you'll see how they have not been healthy i'll say it that way and if you want to look at this chart it's historical debt levels and you'll notice that there's a trend here what do you think the trend is in terms of debt


now we're going to look at things from the perspective of the individual states think of the state you live in we might actually be talking about it in this next section right here four states tdaring on the edge of failure make up over 25 percent of the united states gdp and are home to over 25 percent of the population their tax revenues have plummeted and they can no longer afford the spending programs politicians have approved over the past years even decades politicians now are just saying


well i know i got elected and i know i told you i was going to do all these things we don't have the money and so they get let off the hook for lying even though they knew they were lying if they know they're lying they're not very intelligent because they could have looked at the state's financial statements and knowing exactly what kind of situation we're in so let's see if your state comes up california if california broke off america and floated into the sea and became its own country


that country would be the eighth largest economy in the world of all countries just that state and some of this information is a few months old because a lot of this information comes out on an annual basis anyway so don't worry about it it's all the same or worse all of these numbers are the same as they were at this article a while back a few months back and also possibly worse california faces a 19 billion dollar deficit they resorted to paying bills with ious last year and it looks like they're going to be


doing it again and this article goes on to say something interesting that if things got bad enough and california just stopped making its debt payments it's likely the world's financial system will get swept up in the inevitable chaos absolutely right these are the things you have to start thinking about i know it sucks i know that you don't want to think about this stuff i don't want to i don't want to be talking about this and i'm actually a positive guy but i'm telling you what i see and that's what


i'm going to do until my last day illinois is another one that's completely broke because the state government refused to either raise taxes or cut spending illinois simply stopped paying the roughly 4.7 billion dollars in bills it owes to public schools rehabilitation centers child care providers the university of illinois and other unsecured creditors that's how it plays out not just illinois if there's not enough money eventually that's when you can't get the can down the road anymore federal


government's broke it won't lend you money to your state and then all sudden you cut back on things like social programs and then overall society deteriorates and becomes less productive and less wealthy and has a lower quality of life there's a deterioration of the situation you're living in because they're not being fiscally responsible and i'm not saying pay what you owe i'm saying think of it ahead of time so they don't get in a situation where you have a multi-billion dollar shortfall on an


ongoing basis again and again new york has a deficit of 9.2 billion dollars and they're projecting that they're going to run out of cash by september and michigan sorry jane michigan is hoping that congress will give them money they're saying we don't have enough money we need 560 million dollars in additional federal money otherwise we won't be able to pay off all of our deficit without the 560 million dollars in federal money michigan faces ugly cuts to programs covered by its general fund including


universities and health care you see how this debt is all coming home to roost we're in trouble now there's going to be cuts to things there's always actions like they thought that we'd have to cut anything as a government would give us more money or we'll just make up some new money that works for a while it's a lot of diminishing returns and eventually what happens is you go to drop your kid off at daycare and there's only one caregiver in about 48 kids but also you'll see things like health care


become less effective for you you're going to have a lower quality of life because of the fiscal irresponsibility up until this point that's how it's going to affect you directly one of the ways but we're going to really quickly to the part that you got to see is about you first we're talking about municipalities the city you live in here's a screenshot of a chart of cities that are mired in debt and a lot of cities have pensions that they're going to have trouble paying


and it was forbes who said more than 75 of the top cities in america are essentially broke and i got a few quotes here from managementstudyguide.com from an article that i liked financial condition of the top three cities is extremely serious and they could face bankruptcy very soon top american cities face a combined debt shortfall of over 530 billion dollars so over half a trillion dollars and what's the first thing i do when i look at any stock i go straight to the financial statements then i go straight there


which financial statement do i look at the balance sheet and what i look at on the balance sheet the liabilities compared to the assets both short-term and long-term liabilities and assets liabilities are what a company or a state or municipality in this case owes whereas assets are what they own if any of these municipalities or states were a company and you came to me and said look at these financial statements would you invest in this stock i would say not a single chance no way this one's going downhill fast new york


city for example has about 60 billion dollars in assets sounds like a good amount right like that sounds like a lot but their liabilities what they owe is 250 billion dollars chicago owns 45 billion dollars but it only owns about 10 billion they've got a massive shortfall i don't know where the money would come from for that there's either default or monetization which is another way of defaulting none of the american cities have a municipal debt surplus all of them have a shortfall but you might


wonder how did it get so bad why did it get to this point and i'll tell you a couple of reasons firstly the credit rating agencies have failed to report on the worsening debt situation this is because of the fact that most are paid by the municipalities themselves the municipalities have also been using accounting tricks which allows them to understate their liabilities for instance the financial position of chicago is understated by about three billion dollars and it's estimated that only


about 75 percent of the total pension liability has even been reported by the municipalities so in other words it's worse than you think and a lot of dirt's been swept under the rug the pigeon schemes being used by these cities is increasingly complex they allow politicians to make false claims that the budgets have been balanced now here's a significant part i really want you to hear because it goes into something i've been telling you for such a long time now cutting pensions and raising taxes are


the two ways in which the problem can be solved that's wrong but that's what they say however such measures would immediately make any politicians unpopular that is my point exactly what i'm always trying to tell you the system itself the network that's set up for all of the stuff how people get elected what they do how people vote who they want to be elected without even understanding all this stuff is exactly my point we can't get out of this train wreck of a system because of the


way the system is set up right now that's why it's so important that you get yourself set up in a way to survive this as it happens it is going to happen there is going to be an implosion of this dead bomb and it's not going to be a sudden explosion it's going to be a long drawn out slow grating crush bringing down your quality of life and it's going to spread out over a long long time so that nobody gets blamed especially the ones who caused it and now here is one of the most significant


sentences of this entire video that blew me away when i read it and if you really think what they're saying this is unbelievable just like federal debt the state debt and municipal debt is also backed by an unlimited ability to tax the citizens and pay back the debt they're saying that's something that backs up the debts the ability to tax you to crush the average person take more money from them and we can do that as much as we want as great as we want to pay back all the overspending we've done because we


were fiscally irresponsible we didn't even know what we were doing we were just trying to get reelected they're both saying that that's some sort of asset that there's an unlimited value for them to be able to tax you to an unlimited amount as much as they need to to get more money out of you to pay for their mistakes now this is the last section before we get to the section about you the most important section where i gave you the nine action steps to take but we're going to go through


this really quickly we're going to talk about corporate debts all the companies operating in the state that you live in some of these quotes come from peter brennan from snp global slowing u.s economic growth and expected rise in borrowing costs could have american companies vulnerable after they gorged on debt during the pandemic a lot of what we're seeing right now there's being declines in the top line revenues of companies they all have too much debt and all of these debts the reason they're getting


so big is because interest rates have been so low for so long now that's reversing for the first time in a while and last time it reversed a little bit and the market had a tantrum now they're reversing it slowly and they're going to do it many times this year it's only going to get a bigger more powerful squeeze on you if you have any debt the federal reserve is also poised to tighten its ultra-loose monetary policy in the coming months leading to a possible increase in borrowing costs the


twin threats could erode companies ability to invest in growth and make interest payments as corporate debt levels climb even higher economists and analysts say the corporate that loads have become unbearable for the companies that carry them if the recovery and revenues starts to fizzle and it is going to it's already begun that was the point of the video i made for you by the zombie companies they are only existing because they're paying down the carrying costs or less a lot of companies are doing


that right now what do you think is going to happen when interest rates rise again and again and again this year and everyone's baking on the fact that maybe the federal reserve will say oh we can't do it it's going to crush the economy and they backtrack they do that then we're looking at insane inflation which is also not good for the companies that are basically hanging on by a thread companies rushed to the bond market in early 2020 to take advantage of low borrowing costs growing the debt held by


corporations to 11.17 trillion a one trillion dollar increase over the course of the pandemic according to the federal reserve u.s companies issued 2.12 trillion dollars in bonds in 2020 to make up for the pandemic induced shortfall in revenues however you want to look at it whether you're talking about a corporation or the municipality or you or your co-worker everybody is living on debt and then people on the media are turning around saying our economy is so strong i would argue that it isn't i would


argue that if you have a credit card and you max it out and you have a wonderful lifestyle that's not a strong economy you're not in a financially healthy place you're just using your credit card it's easy to just live off of debt and that's what we've decided to do because interest rates are so low what i'm showing you here on screen is the chart of corporate default levels which is interesting to look at the federal reserve's extensive buying of treasuries has supported corporate bonds


as investors have been driven out of the government bond market but with inflation running hot and the economy recovering it isn't but that's what they say the fed is planning to taper it's 120 billion a month asset purchasing program this year potentially reducing demand for corporate bonds and driving yields higher increasing the cost of borrowing and pimco has downgraded their expectations for growth from six point five percent to three percent that's more than a fifty percent reduction in


their growth outlook that growth outlook among everybody is going to continually get weaker and lower and lower and weaker right until we roll into the recession now here's the good part we're talking about you now people you know everyone around you you have a personal debt to gdp ratio and it's about 130 percent can it get greater well look at japan it's more than double that amount household debt keeps going on up it grew by a non-inflation amount of 305 billion dollars in third quarter of 2021. some


of these articles are from a few months ago because of the good ones and i wanted to pull out certain things from them so they're not necessarily an article or a detail from a day ago or a week ago but any number i'm talking about in this video is pretty much the same as in this article or in the article or it's worse so household that grew by 305 billion now three month period capped the tenth quarter in a row during which household debt has increased and as always mortgages make up the bulk


of new debt and a mortgage is generally the most expensive thing that a person owns but check out this mortgages the amounts of debt on mortgages increased by more than the underlying value of the houses themselves how is that possible you might wonder if you have a hundred thousand dollar mortgage on your house and you can go to the bank and say hey bank can i have twenty five thousand dollars i want to fix my eavesdrop they'll give it to you so now you've got more debt than the actual value of the


house itself that's what's happening people are using their homes as a way to pull money out of it and take on more debt even if that debt starts to get even greater than the value of the house itself they're doing that because i need the money in the shorter term time frame and mortgages growing faster than debt is rare one of the times it happened it was right in 2007 immediately before the entire global financial crisis and the mortgage meltdown just like levels of fraud in the economy


this is an indicator it's part of a story all of these slices that i'm telling you is a part of a bigger story the bigger story is that things are looking just like they did before we had a different difficult time a few years back and credit card debt has been hitting records and exceeding a trillion dollars every month and that is not slowing down that's why everybody thinks the economy is doing so well we're all just living off our credit cards the economy is not doing well there is


telling you it's doing well there's a big difference recognizing that difference might make all the difference for you other consumer debt mainly car and student loans is quickly approaching the record high of 18.9 percent of total debt for individuals some of those comments are from christian willer who had a great article on this stuff so here's what to do about it you made it through the video thank you that was awesome here's the nine action steps you could take right now in


my opinion that will help you land on your feet protect yourself protect your wealth and protect the people that you care about and since you guys already know i'm gonna have this point i'm gonna get to it right now and just get it out of the way if you don't own some silver or gold you absolutely should get a monster box of silver 500 silver coins which is about the price of 500 times the price of silver with a little bit of extra if you're buying gold or silver from a reputable


dealer they're going to take their slice but anyone who's not taking a little slice off you when you're buying precious metals you got a question what kind of metals are they giving you get fortnite's pure whether it's gold or silver you have prayer stuff and going with your neighbor going with two of your neighbors get a monster box of silver get something with all this debt it's going to really affect the american dollar and you're already seeing this worldwide right now and it's going to


bring the value of the dollar lower which means it takes more dollars to buy back those precious metals they'll increase in price you buy one silver coin it's going to help you it's going to change your life not at all but if you buy a lot of silver coins or just a little bit of gold you can buy slices you start buy something today do something take an action because i think that this is going to be precious metals are going to be one of the few life rafts which is available to you in this


really unfair economic time that we're about to run right through number two out of the nine you don't have to be a part of the system just because everywhere every level of the state the federal government they're all just being irresponsible doesn't mean that you have to be i think that it would help you to start paying down any debts that you have in any way that you can pay them down and don't take on new debts if you can help it do your best in that regard no one's gonna be perfect just take it


seriously and actually try to start chipping away at whatever debts that you have one way to spend less is adjust your lifestyle this is number three you might not go out for the steak dinner and you say well isn't that kind of like ruining my enjoyment of life you choose some of the stuff that you spend money on you don't need to spend money on and anything that you think you do need to spend money on delay it a couple of weeks and decide if you still want to buy it then the first most beneficial tactic or the beneficial


step you can take is just start spending less money besides paying down that start spending less money and if you spend less money you'll be able to pay down the debts you do have a lot easier and you're going to want to buy some stuff so buy it but don't buy everything that you're buying right now you don't need to i promise you don't need to and i would suggest that you invest wisely it sounds like a cliche but anyway since i'm the small stock specialist of course i'm going to tell


you that you should look for really super high quality low priced shares of stocks because that'll have the biggest return for you if you want to turn a few hundred dollars into a few thousand but my stuff is very speculative it's not for everyone and everybody even if you don't read my newsletter and you want to invest in shares of stock there's certain types that i would suggest you look at now rather than the speculative stuff the high flying high multiple kind of stuff the stuff on the news i wouldn't


go near any of those big name high-flying investments the market is delusional right now this will change pretty soon and that's going to really adjust the values of different investments and i think the ones or the kinds of investments that will hold up the best will be defensive stocks things like utilities things like businesses which have recurring revenues on a monthly basis they're going to hold up a little bit better as long as they have a really strong very low attrition rate attrition is when people


use a product or service and they change their mind and they stop using it a company with a really high attrition rate never lasts because their product is a piece of garbage you want to look for a company with recurring revenues but also a really low attrition rate and you can find out all this stuff just call the company read their financial statement look at how much money how many customers they had how much money came in from and you can see all this stuff on the financial statements it's


all so much easier than you probably realize i like companies with really high profit margins for example digital information what does it cost to send that out it's incredibly low you don't have to make a product to send it out you're not putting together a hammer and screws and bolts you're doing digital information there can be a really good markup on that so that your profit margin your gross profit margin will be really high and that usually trickles down so that your net profit margin is also pretty


high and of course i like the precious metals miners because you know that i really like precious metals and have a really optimistic outlook for them but i'm not talking about exploration companies i'm talking about productive companies they actually bring it out of the ground and sell it and failing that or in addition to that look for a company with growing revenues on a quarter by quarter basis and is that revenue growth greater than most of their competitors in the space and also are they cutting costs are


there expenses falling over time are they becoming more efficient if you find a company like that they're very likely to increase in terms of share price by a pretty significant amount and no matter what and you always hear this and so you probably shut it out of your mind or you ignore it but focus here right now i'm telling you one thing that you got to do you have to do proper due diligence it is a bit of work but you got to look into the companies that you're interested in and really get to know


them even if you're getting a stock pick from a peter leeds newsletter it's already been put through our leads analysis process even if you get it from us i still want you to take the time to look into that company make sure that you believe in the investment you understand why it's going to increase the price and by when and number five i would suggest that you walk away from or ignore fomo don't let all these emotions adjust your approach to things fomo is a one-way street it's a fear of missing


out when that asset is on the way out and when it's not on the way up you don't hear about it anymore and people are still thinking that there's a fomo look at how much i missed out on possibly you did you almost certainly didn't because a lot of stuff that goes up so strongly that you have fomo a lot of stuff the faster something rises the faster it falls a lot of that stuff comes back down just as quickly and you don't even hear about it look at shares of amc and gamestop they went up to the


moon they came down pretty hard most people don't realize that yet not just fomo any of these emotions that stress you out or make you make impulsive decisions or the wrong decisions the entire newest part of my newest published book is all about getting your mind right you need mindset right and you're going to make better decisions in every possible way it all comes down to getting your mindset right whether you're investing trying to meet a girl at the bar or you're building a robot it


doesn't matter you get mindset right and that's the most important aspect of all of it and why do you have to get your mindset right because we're not playing around anymore this is getting really serious especially how it's all going to play out and nobody's noticing it i feel like a wet blanket that no one's agreeing with me this is going badly and i think you're seeing where it's going and you know it can't keep going like this so what does that mean something has to


change when that change happens when that transition happens what does that mean for you how does it play out this is all about what i do too it's all about financial survival and that might even include literal survival depending how things go the mud will hit the fan it's a question of how many fans and when does it begin the way i look at it it's better to overwarn you than to underwarn you and it's pretty easy to live on credit card debt and that's basically what it's like


right now in terms of every strata of debt this comes back to haunt us this comes back to make us pay the piper some people will prepare for it and adjust and be ready for it maybe even benefit from it the vast vast majority of people are going to get completely blindsided number six one of the things i've done and i do and i've always done is you keep some cash on hand out of the bank take out a couple hundred bucks throw it in a book put it back up on the shelf forget about it you'll know it's there


and if it gets desperate you need the money you'll go get it but it's a good idea to get some money out of the bank put a book on the shelf and it should be amount of money that you feel kind of queasy or worried about how much you're taking out and once you do it about you you'll feel completely fine with it once it's done but worst case scenario you realize oh i took out too much money i'm putting the book on my shelf so take some out and spend it on whatever you want buy some beer whatever put it back


in the bank it doesn't matter you should have some money out of the system not that i'm expecting a bank run or anything like that soon or atms to run out of money anytime soon but by the time i'm expecting that you should have already acted i'll tell you that much and number seven since you know that we're going to have a recession that's going to lead to delinquencies bankruptcies defaults all of that is going to happen when the recession rolls into town which is why you should be ready to act


and look at things in the right way number one look at them most people aren't even looking at this this is too heavy of a topic i congratulate you for sitting through this because it was almost as hard for me to say as it was for you to have to listen to because i feel like we got completely screwed over by the way the system set us up for this but this is happening either way you need to be ready to act and one of the ways you can do that is by watching my 2022 recession preparation video which


tells you a bunch more points about the way to prepare for what is to come with the recession and i told you earlier that the value of money is based on the confidence there's confidence in the us dollar people agree upon it they agree that a 20 bill is equivalent to a certain amount of value but if you were to say to me what would have to happen for the american dollar to lose or for americans to lose confidence in the american dollar i would say to you that everything that's currently happening


is exactly what would have to happen for all confidence to be lost in the us dollar and it's already begun in terms of worldwide other nations their confidence in our money it's being demonstrated by the fact that they're not buying any more of it and they're selling at some of them in certain parts and they're also using other currencies instead of the us dollar by choice but this dead bomb isn't going to blow up like a ball it's going to be a long slow drawn-out grading drag across the cement


and you're going to feel it the whole time and you're going to see people around you who are going to get blindsided by it who are going to be suffering even more than you will because at least you've paid attention at least you understand this stuff at least you did some things to help prepare yourself and i suggest that you also try to spread the word share the video so that other people can see the situation that they're facing right now because they are not aware of it you can give them the video and they'll


realize it'll open their eyes and they'll start making different choices that'll be better for them in the long run and number nine i'm going to ask you to look at reality i'm not going to be telling you something here i'm asking you to tell me what you see you know that this debt increase is unsustainable you know that the chickens are coming home to roost and the problems in this debt bomb is not an explosion the problems of the debt bomb is slowly this city cuts back on


teacher salaries this city has less social programs this state can no longer afford to pay their pensions it's basically and i think you're agreeing with me it's just a matter of time so now it becomes about finding the timing what do you do but it's going to be a long slow grading drive lower not an explosion so prepare today prepare tomorrow prepare the next day earlier is better it's better to be a yearly than a day late and i've been trying to never use this analogy because i think everybody uses


it but it's like frogs boiling in a pot and they turn on the pot to boil and the frogs just sit there until they're dead and it is a perfect analogy for what we're dealing with everyone's walking around like there's no problem here but look guys i've already jumped out of the pot it's a lot better over here on the counter i'm asking you to join me