Jun 2, 2023
Russell Stone discussed the current state of the economy with Kerry Lutz on the Financial Survival Network. He believes that the Consumer Confidence Index is a hiccup and that the market is trending down due to the decrease in used car prices, real estate prices, and unemployment. He suggests that people should have a base of their portfolio in precious metals and money market accounts that only buy T-bills. He believes that the US government is in trouble due to its debt and unfunded liabilities and that the day of reckoning is coming. He suggests that people should pull out unnecessary money from the market, buy low and high, and pay off debt. He believes that the deflationary cycle is underway and that the government will have to write off some debt in order to get the economy going.