(upbeat music)
- [Announcer] This is
The Rich Dad Radio Show.
The good news and bad news about money.
Here's Robert Kiyosaki.
- Hello, hello, hello,
Robert Kiyosaki, The Rich Dad Radio Show.
The good news and bad news about money.
And I tell you what,
we have some great programs coming up,
and this is one of them, because
the markets are in turmoil,
everything is shifting, and if
you're not paying attention,
you're gonna get wiped out.
So this is another very important program,
fantastic program.
Our guests today,
Kim would have been here,
but she's doing her favorite thing,
she's moving money around right now.
So she likes doing that.
But anyway our guest today,
this is about the greatest bubble,
and for those of you with a
401k, or hoping for retirement,
or planning on playing golf
for the rest of your life,
you better pay attention, because I think,
and a lot of other people think,
and our guests think, the
biggest stock market crash
is on us now.
And I'ma remind you of one thing
that we at Rich Dad
don't sell stocks, bonds,
mutual funds, or ETF.
We don't make recommendations.
We're just purely educational.
So all views mentioned on
this program are for you
to digest on your own, 'cause
we don't make recommendations.
So our guest today is
our old friend Harry,
he's not old, but been a long time friend.
I followed him for years.
He is one of the greatest
forecasters I've ever met.
And I remember he was the
first guy to introduce me
when I was studying,
coming up to demography.
And he called it "demography is destiny".
When you look at demographics
you can see the future.
So right now when you look at the future,
the baby boomers are old guys.
They're the first generation, I think,
to have a 401k because
we came off what's called
defined benefit pension plan
and went to a defined contribution,
which is the 401k or IRA or steps.
So the baby boomers for
the first generation
to be hanging with their butt
out in the air right now.
And if the market crashes they're gone!
Whereas my parents generation,
the World War II generation,
they had a defined benefit pension plan.
That's like what Ford
still gives out I think.
So if the market crashed
Ford still made sure
you got a paycheck for life.
So the baby boomers, you're screwed
listen to this program now.
And if you're the kid, or child
or grand kid of a baby boomer,
you better listen up too,
because you don't want grandpa and grandma
moving in with you when they got wiped out
in this next crash.
So that's Harry Dent,
and our other guests here
is a man I just met.
He's a Navy pilot, incredible
pilot, Stan Harley.
He publishes the Harley Market Letter.
And the reason is I'm gushing about Stan
is because he flew for
Top Gun and all that.
He knows Tom cruise per-
No he doesn't.
(laughs)
He's a Navy pilot, and I
flew for the Marine corps.
He flew out of Miramar
outside of San Diego,
and we used to go to the same
bar and fight each other.
But anyway, it's a real
band of brothers right now.
So welcome to the program.
Harry and I just came
back from a fantastic
tour all the way through Australia.
That was fantastic! I love the Aussies.
So Harry, welcome to the program
and whaddya wanna say about
this bubble coming up?
- Well Robert I love Australia too.
They're the best audience in the world.
They're the most hungry
for new information
I've found in the world.
And they have fewer experts like you and I
to listen to there.
- Thank God.
'Cause they're in the middle
of nowhere, I hate to say it.
So I love the Australians. They...
My problem, Robert, with Australians
is they have the biggest real
estate bubble in the world,
except for China, and they don't get it!
They think, "Oh, our real
estate is going up forever
and we're good people and
we deserve this bubble".
And so I always have to
wake them up and say,
"Hey, greater the bubble,
greater the burst".
That's my number one statement,
from everything I've studied
in demographics and cycles,
the greater the bubble,
the greater the burst.
- The problem is Harry-
- That's what we have here.
- What they're proud of is
they haven't had a recession in 35 years.
So after you left, my friends
had to go on suicide watch.
There was...
(laughs)
- I mean it's just natural
Robert, that when things go good,
people just think, "Oh, it's okay".
It's not okay for you to
be sitting in your house
going up 20-25% a year,
and the stock market
going up 20-30% a year
while you do nothing. That
is something for nothing.
That's what's called a bubble.
So we're in this bubble,
and the key thing I have been
looking now for two years
for the NASDAQ, the leading stock bubble
to get up above 11,000.
That's what it did.
That was my target for the bubble to peak.
And it has done that. It has
done that, more than that.
And it's been hitting
that in recent weeks.
And of course at the same
time, I'm looking for this,
Stan Harley, who is the best short-term
forecaster in markets,
says the same thing, like mid August,
is looking like a peak.
So I think people really
need to wake up here.
I know it's hard, 'cause
the bubble keeps going up
and it seems like it can do no wrong.
No, this bubble is peaking here.
This is the best I've seen.
I've also been looking for
the NASDAQ to make new highs
and the S&P 500 in broader markets
to only retouch their highs
in this really stupid bubble.
I mean, for stocks to
be going to new highs
in the greatest depression,
downturn with the COVID-19 in history?
Okay, wake up, this is an alarm.
get the hell out of the stock market.
- Right? So I've had the pleasure of,
I'm glad you invited Stan because,
I have a tremendous
respect for other pilots,
and he flew the F4, F14, and F18,
and I was a helicopter pilot.
So we're kinda different breed of cat.
But anyway we kinda see the world
from the same point of view.
And I don't know if Stan's ever crashed,
but I've crashed three times.
And so for those of you
401k, it doesn't feel good.
That's what I'm trying to tell you.
(laughs)
The rush going down.
I mean you go down a lot
faster than it comes up.
So Stan, as a fellow pilot,
welcome to the program,
and give us a little bit of a background
about your flying background.
Everybody knows about
Harry and his forecasting.
Always respect the balance.
- Thank you for your
service to our country.
Fortunately, all of my
landings equal my take offs.
Never needed to pull that ejection handle.
(Robert chuckles)
Had a few close calls.
- They're still charging me
for the three aircraft I lost.
(laughs)
- I think Harry makes some
good points about the market.
I'm a market technician.
I look at a variety of fundamental,
quantitative and technical factors,
primarily technical analysis
with an emphasis on market cycles.
But I've looked at several things,
and I'll highlight a few of them here.
First of all, unemployment.
That's some data that
all of us can download
from the FRED website.
I've looked at that data
and all the way back
to the mid 1940s since its origination.
And what I-
- One second Stan, would you explain
what the FRED website is please?
- That's a website that is
maintained by the U S government
BLS, the Bureau of Labor
Statistics, and anyone can go on,
just type in Google, it pops right up.
And there is just a plethora of data there
that has to do with equity
prices, home prices,
interest rates, that's
maintained by the U S government.
And it's totally free.
Anyone-
- I always thought FRED was
connected to the fed, it's not?
- It is, it is.
They maintain the website for,
home prices, equity prices, bond prices,
and the BLS supplies the
data for unemployment.
- So that's kind of a crystal-
That's kind of your crystal balls,
is what you're saying, is it?
- It is, and one can download
it, dump into a spreadsheet
and analyze it.
And I find that unemployment
goes up and down
on a cyclical basis.
And what I have found is
that as a general rule,
the best levels in unemployment
for the then current economic cycle
tend to precede stock market tops
by five to seven months on average.
So that is to say when unemployment
gets to its lowest level,
then you punch the stop clock,
and approximately five
to seven months later,
the stock market reaches its high
for the then current cycle.
And that works very, very well.
- So that kinda fits your
way of looking things, Harry,
'cause you look at the trends,
but so what you're
saying with unemployment,
when Trump was saying
unemployment's at an all time low,
in your mind, you're
saying it's gonna bust.
- That's what I'm saying, yes.
Is the stock market to peak.
Unemployment reached about 3.4%,
going from memory here, but I
believe it hit a level of 3.4,
which is very low historically
in the post World War II era.
That occurred in February of this year.
So historically if we
had five to seven months
to that February level,
that would suggest about
now, for a stock market peak,
plus or minus.
- And now it's August, 2020,
- August, 2020.
I look at other things.
I look at market cycles,
I look at divergences
among the various indices.
We have a cycle that averages
just under seven years,
and I know Harry's
familiar with this as well,
we've talked about it. It's 82 months.
82.2 from our regression analysis,
or you call it seven years.
The market has a propensity
to make significant troughs
about every seven years Robert.
The last one occurred in February of 2016,
seven years prior to that, March of '09,
seven years prior to that,
October of '02, and so on.
Going forward in time,
the analysis points to
December 2022, for the
next low in that cycle.
And the standard deviation
on that's about four months.
So we should be looking to the
latter part of December 2022,
early part of 2023, for the next trough
in that seven year cycle.
Of course, before you make a
low, you have to make a high.
And the highs in that cycle tend to occur
between two and three
years prior to the low.
So back of the envelope math,
if we're gonna make a
low in December 2022,
back it up two to three years,
let's use two and a half
as an easy average, that
points to right now,
summer of 2020 for a high.
So we are essentially there
just from back of the envelope math.
- And Harry, how does it
fit with your demographic
or your way of forecasting?
- Okay, Robert number one,
my demographic cycles peaked
in late 2007 for the
baby boom spending cycle,
which I said back in the mid 1980s.
But there's a bigger cycle,
which, Stan and I both agree on.
This is rare for a short-term
guy like Stan and me
to be looking at a 90 year cycle.
If you look at the stock market,
since the stock exchanges were established
in the late 1700s, back 250 years okay,
the greatest cycle evident
in the stock market
is every 90 years you
get a super bubble peak
like 1837 then the crash in
the 1842, and then 1929 to '32.
And now I was calling it
from late 2019 to late 2022,
exactly what Stan's
saying, for the bottom.
This is the biggest thing that happens.
And it's because of technology cycles.
They come together every 45 years
and then moreso every
90 years. This is what-
- Hey Harry, math up here real quickly.
So 98 years from 2020 is 1930?
- 90 years cycle that peaked in late '29
bottomed in late '32, 90
years later, late 2019.
Just give it a few months,
early 2020 February.
This is the biggest cycle
we will see in our lifetime.
I've been saying this for decades.
- You have been, you have been.
You've warned a lot of people
about the 90 year cycle.
So that's today?
From the Great Depression?
So let me ask Stan, what
do you say about that Stan?
- I agree with Harry on that one.
I've got data going back to the 1600s.
And I don't wanna get too
technical with the numerology,
but there are a number of
Fibonacci relationships.
I'll leave it with that,
that all cluster in the present timeframe
going all the way back to the 1600s,
including the peaks in 1835, 1929, 1720,
which proceeded that.
And even the tulip mania,
1637 in the Netherlands.
Projecting forward, putting
them into a regression modeling,
which I've done, all coincides
with the 2020 time period
for a major peak. And
we're essentially there.
So now that's the macro,
that's the big picture,
and then we're trying to narrow
this down a little bit more.
I look at the seven year cycle,
we have some divergences right now
in the advance-decline data,
which is something that
I track very closely.
We have the advance-decline line,
which is a summation of
each day's net difference
between advancing issues
and declining issues.
Market technicians keep track of this.
- You lost me at hello.
(all laugh)
- Well you know the decline
line is making a new high,
and a lot of technicians
will point that out
and they draw the conclusion that
well with the A-D line making a new high,
therefore the Dow, the S&P
and everything should follow.
- Okay, okay okay, we
have to go to a break.
So here we are, you guys are
watching these waves or cycles,
and Harry has been warning
about this one for a long time,
the 90 year cycle.
So if it was 1929, let's call
it 1930, 90 years is 2020.
And so ladies and
gentlemen, the question is
how big, and what should we do?
So when we come back, we'll
be talking to these gentlemen,
especially for those of you with a 401k,
or have a pension you're counting on,
this may be the most important two men
you can listen to in the
history of your life.
We'll be right back.
Hello? Hello? Hello? Robert Kiyosaki,
The Rich Dad Radio Show.
The good news and bad news about money.
You can listen to The
Rich Dad radio program
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We make no recommendations.
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But most importantly, if you
listen to this program again,
repetition, you'll learn twice as much
from these great teachers today.
But also include your friends, family,
and business partners,
and then discuss it, and
you'll learn so much more
than you did if you read a book.
So our guest today is a great friend,
and a person I've looked up
to for years, Harry Dent,
I've been following his message,
he's very accurate in his
forecast, very accurate.
He called the Great Boom ahead.
And now he's calling
the great crash ahead.
And another gentleman I
just met is Stan Harley.
He's a fellow pilot, and
he flew out of San Diego
Miramar, Top Gun, and he
flew the F4, F14, and F18,
and I flew a little gunship.
But anyway, that's all,
this is a wonderful,
wonderful brotherhood.
So Harry and Stan are
talking about what they see,
and then again, it was
Harry who educated me
about this 90 year cycle.
So let's go back to 1930,
1929, and today is 2020.
We're in a 90 year cycle.
And so they're both
short-term and long-term.
And the reason Stan and
Harry are together today
is Stan is more, very
very micro, short term.
And so we're gonna hear
their points of view.
This is especially important
because what they're predicting
is I think the biggest,
we're in the biggest bubble in history.
Harry would you agree with that?
- Yeah, I do Robert.
I mean, I only have a few
short-term newsletters
that I track, and Stan is
number one of two of those.
'Cause he's a cycle guy like me.
He focuses more on the short-term,
but he was the first guy
of all the newsletters I've gotten
to also recognize this 90 year cycle,
the biggest cycle of all times.
If you look at the stock
market, 250 years back,
there's only one cycle that stands out,
super bubble peaks every 90 years.
And so Stan is a short-term guy normally,
but he also gets the long-term cycle
so we both agree.
It is so rare that somebody like me,
long-term with demographic cycles,
and now this 90 years cycle
would say this is not just
a peak in the stock market,
it's the greatest peak of your lifetime,
and the greatest crash,
and the sale of a
lifetime, on assets, ahead.
- So lemme...
Stan, what do you wanna say?
The only reason we're
pilots, we're open-minded,
that's the biggest difference, right Stan?
- We are open-minded. We are.
From a technical perspective, Robert,
I look for divergence in
the topping me evolution.
Bottoms in the stock market tend to be
one and done the event.
Sometime it has a retest.
Tops however tend to
be protracted affairs,
it spans several months, sometimes years,
but in the context of
that seven year cycle
that I was talking about
a little while ago,
the tops tend to span several months
so early on in the topping phase we see
the largest number of stocks
making new highs in indices.
And then over a period of several months
we will see fewer and fewer stocks,
fewer and fewer, of the benchmark
indices making new highs.
- Once again, this is August, 2020,
because we're talking
about is short-term now.
- Yes. And over the last several months,
we've seen the Dow
Transports go to a new high,
and that was back in 2018.
In January of this year,
we saw the New York
Composite go to a new high.
In February we saw the Dow and the S&P,
and now the only major index
making a new all-time high
is the NASDAQ Composite.
And this is very, very typical
of how tops are formed.
You get a thinning in the advance
as the topping structure evolves.
It is possible the S&P
may kiss a new high here,
the next day or so or we're so close.
I think when this thing is done,
I think when you hold the
chart back in your face,
it'll look like a double
top in the S&P 500.
But I think the Dow Transports
has seen their high for the cycle.
I think the New York Composite,
which is the most important index of all,
has seen it's high, the Dow Industrials,
and now we're down to the S&P Advance.
- For those who don't
speak technical language,
a double top is like your two strikes?
- [Stan] Yes.
- And then three strikes you're out?
So this is this is my question.
I'm gonna ask both of you.
I don't know, historically,
I've never seen so much money
printed in such a short time
We're laughing about
our friend Peter Schiff
he has this different...
We all have different points of view.
And Peter is calling for inflation.
And Harry is calling for deflation.
What's the difference?
Schiff's a great friend of
ours, but we see it different.
We see the same scenario,
the same event differently.
So Harry, why is Peter a blind as a bat?
(laughs)
- Robert, let me give you a
figure that's very important.
$473 trillion,
six times the GDP of the world.
That's how much financial
assets there are.
And it's more than double what it was
at the peak of those
financial assets in 2007-2008
before the last bubble peaked.
What governments did around the world,
was when we had this great downturn,
the next Great Depression,
like 2008-2009, like 1930-31,
they just printed money to erase it.
That is the worst thing
I've ever seen in history.
I am gonna go down Robert saying
these central bankers
are the stupidest people
in all of history and will go down as that
only in retrospect.
Because they think you
can make things go away
by printing money. So-
- Cut! Cut! Cut! Cut! Cut!
So let's go...
So, okay...
- So Peter Schiff says,
"Oh, this has gotta cause inflation".
No, they are fighting.
They are offsetting deflation
of financial assets.
$477 trillion, six times GDP.
They're fighting that, this
is the deflationary era.
- So this is 1929 again?
- Don't wait for them to
get inflation here, no way.
- So inflation will
mean food prices go up,
car prices go up and all that.
What you're saying is that we're going-
- Oh no! That's nothing Robert!
- I understand
- It's so much bigger
than consumer inflation.
- I understand.
I understand.
But that's where most of
the minds are at you know,
will eggs has cost me more money?
- Yeah.
- But you're talking about
a major, major, major, major
depression. Stan, quick,
what do you think on that?
- I agree with Harry.
I think we are making a 1929 style top
an 1835 top, 1720, all of those.
That's three that proceeded this one.
I think this is on the scale of that one.
- Okay. So this is my question
then, placed to both of you.
How does printing so much money,
'cause I don't think they've
printed this much money
the way they might have,
but I don't know if they've
ever printed so much money,
so how does that affect the crash?
- They are printing so much
money to offset the decline
in financial-
- I understand.
- Just this recent crash in
stocks in February to March,
took out $25 trillion
globally in just stocks,
not counting real estate
and other financial assets.
The governments are having
to print more and more money
to offset this bubble crash
in financial assets,
which they have created.
This is totally artificial.
This whole boom, since 2009,
has seen the lowest growth
in GDP, in any recovery ever,
and the greatest increase in stocks
and financial assets ever.
Something's wrong here,
it's called printing money
to offset a downturn.
- Okay. Stan, what do you wanna say?
- I think we are very
close to rolling over here
and heading South, but to Harry's point,
the government has
borrowed a lot of money,
pumped it into the
economy, and I believe this
is an artificial economy right now.
It's not consumer driven.
It's being driven with
borrowed government money.
- Harry is that why you're calling gold
to drop below a thousand or something?
- Okay, Robert, I'm gonna say-
- It appears that Schiff
wants to kill you right now.
- Gold has held up better
than any other commodity,
which has its index as CRB,
in history in this downturn
because gold has a crisis value.
But gold is an inflation hedge.
And we're talking, that's the difference
between me and Peter Schiff,
deflation is the end result,
instead of inflation.
I see gold going back to the
low in late 2015 of 1,050,
maybe a little lower, and
this still would be the best
commodity of all to hold up.
And then I see a huge rally
long-term for one reason,
the biggest growth in
the future demographics,
which is my expertise, is Asia.
Asians love gold.
Chinese, Indians, buy more
gold than anybody in the world.
Gold will lead the next commodity rally,
but gold is an inflation
hedge, not a deflation hedge.
And it will go down.
I do actually think now
Robert that gold has broken
2000 or a little it's passed off.
It'll go maybe to 2200.
But gold is gonna go down.
Gold is not your safe haven.
The crash, in February-March showed you
gold went up at first and they went down
and then the bigger crash in 2008,
gold went running for mommy
when deflation set in.
Gold is not your safe haven here.
Now, once it goes down to a thousand,
I would load up the trucks.
- Stan comments. I mean,
even if you're not,
I don't know you're in
the gold market at all,
but this is a war between
Harry and Peter Schiff.
(laughs)
- I have a positive outlook
on the metals complex.
I think gold's gonna
go substantially higher
and it's pulling-
- But this is my real question, okay?
Both of you.
Will the Fed do the same
thing in the next crash?
Will they just print more
or are they gonna actually
find religion and say,
we better cut this out?
- Robert, I don't know whether
the borrowed money mentality
will continue, particularly
after the election.
I think the current administration
and indeed the other side of the aisle,
wants to pump borrowed
money into this economy.
And it's gonna work until
interest rates rise.
And my work says interest
rates are gonna remain low
for about another two years.
Once they turn the corner,
then that's gonna make the
situation extremely problematic.
That is to say we're
gonna have this huge debt
we're gonna have to service.
And when interest rates start spiking,
when they go from one and a
half to three to four to five,
the U.S. government is
gonna have a hard time
servicing the debt.
Which means we'll have to slash spending.
When the government slashes spending
that means your jobs and it's snowballs.
- Depression.
- I think we're going into
a protracted depression.
On that, Harry and I are spot on.
I think that from a technical
analysis perspective,
the top that I see us making right now
is analogous to '29, 1835 and 1720.
And I think there's some
hard times coming in,
in the not too distant future.
- Harry can you hear us?
- Yeah. Hey Robert, I got
us, the same figure for you.
$473 trillion in financial assets blown up
more than double in just the last decade.
And people are thinking that
5 trillion or $20 trillion
could offset that?
No way the governments
are gonna lose this war.
They are printing money to
offset a deflationary spiral
and they will lose this battle
or I will be a professor
at the University of Texas
in Austin two years from now.
- Oh God. Oh God. Please don't do that.
But anyway, so we gotta start winding up.
Once again, we don't
give financial advise.
We don't tell you what to buy or sell.
The whole thing about The Rich Dad Show,
I listen to both sides
and that's why I'm glad,
Stan and I are the voices of reason here
between Peter Schiff and Harry.
(laughs)
But anyway,
so Stan, your newsletter
is harleymarketletter.com
H-A-R-L-E-Y marketletter.com.
What advice would you have for
mom and pop with a 401k, IRA,
or somebody counting on
their government pension,
in the stock market?
- Listen to people like Harry
and others on your show.
Keep abreast of all the
information out there.
And at the end of the day,
make your best decision
in terms of being careful
with the information you're hearing today.
I would suggest that investors use
some type of trailing stop,
whether they put it in
with their financial advisor,
or they put it in themselves,
or they just keep it mentally,
but essentially set a floor.
So if the market does roll-over,
then get out and go to cash
- A stop means if it's a $10,
it goes to eight, you're out?
- You're out. Yes.
- Your stop is at eight.
- 'Cause when you go into
a decline, I don't think
it's gonna be a modest decline.
I think it's gonna be
a significant decline
and at least by taking themselves out,
they're gonna avoid that.
On the other hand let's assume
Harry and Stan are wrong
and the market just
keeps going straight up.
Well, at least they're still
invested for the long-term.
- But would you want them
to go to cash at this time?
I would put a trailing
stop underneath the market,
maybe 5%, maybe 10%. I
don't wanna define that.
I wanna leave that to everyone's
own personal risk tolerance.
If the market hits South,
it will take them out.
And if it continues northbound
they can enjoy the ride
on more borrowed money
from the government.
- So, and then Harry's
website is harrydent.com.
He and I will be on our
way to merry, merry England
to spread the good tidings and joy.
And Harry, what advice do
you have for mom and pop
with a 401k or they're counting
on the government pension?
- I would say the same thing.
Things have gone in one direction,
all financial assets up,
but there has been one financial asset,
the 30 year...
10 and 30 year treasury
bond that went up even
in this crash, in February to
March, that's the safe Haven.
Everybody says it's gold. No!
It's gold long-term, but not short-term.
The treasury bonds and the U S dollar
is the safe Haven for the world.
It went up.
And so even if you say,
"Oh, maybe Stan and Harry are wrong here"
and stocks keep going up,
well you know treasury bonds
have kept going up in
value in this bubble.
It's the one safe haven,
and you've gotta get out of stocks
and you've gotta get out of expensive,
I call it expensive real estate.
Real estate is also in a bubble
because of record low mortgage rates,
which governments have created.
And when this gets over,
that'll be a different thing.
So I say, get out of the risky assets,
stocks and real estate,
and get into the safest,
not investment grade bonds,
even investment grade bonds
went down in February and March.
Get into high quality
long-term treasury bonds.
They're the safe haven.
You're not only are in cash
in US dollars versus other currencies,
you're in the safe haven,
which has been proven like in 2008.
- Good, thank you very much.
So I wanna thank both you
gentlemen, once again,
we recommend you listen
to this program again.
Harry's website is harrydent.com
We're on our way to jolly England,
and we'll be talking more,
but, as you can tell,
things are changing so rapidly.
Everybody has a different point of view,
and that's why we thank you
for your strong points of view.
So we come back, we'll
be going to a summary,
but first of all, once
again, it's Harry Dent,
harrydent.com and Harley,
H-A-R-L-E-Y, marketletter.com.
Thank you, gentlemen, for
your strong points of view
and Harry, I will send
Peter Schiff your regards.
Thank you.
Welcome back, Robert Kiyosaki,
The Rich Dad Radio Show
The good news and bad news
about the crash that's coming.
A sincere thank you to Harry
Dent, long time friend.
And he's always got a point of view.
And he's been fairly accurate,
on demographics especially.
And then Stan Harley,
the Harley Market Letter,
please subscribe to it
at $295. It's a bargain.
I really enjoy what he's saying.
He's more short-term
and Harry is long-term.
And Harry is harrydent.com
On August 30, he's having
a Harry Dent Summit,
and it's very important
everybody listen to it
because he's gonna be giving
more of his points of view.
I think this time he's
gonna be in Australia,
but Australia is like
the rest of the world.
He's gonna be talking about real estate,
and the stock market,
and gold, and silver.
I think the most important
thing I'm gonna talk about,
to mention right now is Peter Schiff is
a friend of myself and Harry,
they both live in Puerto Rico.
Peter is calling for inflation
and Harry is calling for deflation.
And the reason Rich Dad stays in between
good news and bad news,
we leave it up to you, to
do your further research
or make up your own mind.
But both guys are frightening.
I mean, I've met three of them.
Because you got Stan, Harry
and Peter. Something's coming.
They're not saying nothing's coming.
They're saying something is coming.
And the question is,
what are you gonna do?
Any comments Sarah?
- [Sarah] Well, I think
you're having the different perspectives
of between Harry and Stan
- And Schiff.
- And Schiff.
Stan said something in
the show where he said,
do this, but that's what I would do.
You have to do, what's
right with your risk factor.
And I think that's what
we're trying to do here,
it's presenting these different scenarios,
how you plan and execute,
is what's best for you.
- Correct.
I think if you're in the stock market,
what Stan says, you might put a stop in.
Now that's beyond my
meager helicopter brain,
but he's a jet pilot.
Anyway, what a to stop does,
let's say the stock is at 10
and you may wanna put a stop at eight.
So if it drops from 10 to
eight, it's called a stop out.
You sell at eight.
And only danger of that
is if it's a severe crash,
it could go right past it.
But that's outside shot.
I think the biggest thing to listen to
was their 90 year trend,
'cause I've heard that
from Harry for a long time.
- Yeah.
- And it seems to be coming true.
How about that unemployment thing,
where he says the lowest unemployment
meant it was gonna go up?
- [Sarah] Yeah. It's interesting to see,
you know hindsight's 20-20,
but it they're right on,
their numbers are right on.
And we had Harry on, I think in March,
you can listen to that
episode by visiting YouTube
or richdadradio.com.
He said the same thing
that like, it's so strange,
not strange, it's coming true.
So you know their research
is legitimate and valid
and the unemployment
number that Stan mentioned,
it's five to seven months
after it's all-time low
stock market's at its all-time
high, look where we are.
And he said, I don't know
if we were recording it,
or right before the show, we're
in the middle of a pandemic.
- And then Stan said another
word, we're in a double top.
- [Sarah] Yeah.
- See that's kind of a
short-term market guy.
So that's why I suggest you
subscribe to his newsletter
harleymarketletter.com. 295 bucks.
It could make you money,
but more importantly,
save you a lot of money.
- [Sarah] Right.
- Because all we are is
an education company.
And that's all we want is
for you to be more educated
so you can make up your own mind.
But these are spooky times.
Nobody is saying nothing is coming.
Everybody is saying something is coming.
What happens, depends
upon who's saying what.
So Schiff is saying gold is gonna go up,
Records is saying gold is gonna go up,
and Harry Dent says it's gonna go down.
The question is, what are
you going to do with that?
That's what The Rich Dad
Radio program is about.
We're glad you pay attention.
Thank you for listening
to what we have to say.
I'm gonna put myself on
suicide watch right now.
But anyway, thank you Sarah.
Thanks for listening to
The Rich Dad Radio program.
That was great you guys.
Thank you. Thank you.
Well balanced.
Where you at now. Harry?
- Puerto Rico.
- Jeez.
- Low real estate costs,
very low taxes.
I'm telling you, you
guys should both be here.
- Yeah, well, we don't pay taxes
so it doesn't bother me at all.
(Stan and Harry laugh)
- Okay, so you are okay in that case?
- Do you hang out with Schiff
and Maloney and those guys?
- I do. Peter's a pain in the ass.
(Robert and Stan laugh)
You know how he's been.
- That's good.
We're all friends.
- But yes, he and John Malden
and a couple other newsletter writers,
are down here for the same reasons I am.
I just discovered Puerto Rico before them.
I discovered an Island called Culebra.
That's why I'm down here. Not Puerto Rico.
- Okay. That's a good.
- Did you get hit by a
hurricane a couple of years ago?
- Yeah. Yeah. We got whacked big time.
- Oh that's fun.
- I had to hold my windows
from blowing out physically.
And I could not walk for five days
because my muscles are so sore from that.
- Well you know what's funny
I just interviewed Peter Schiff
and he was in Connecticut when
the last hurricane hit him.
I said, " You know, I'm gonna
stay far away from you Peter.
(laughs)
The hurricane's always
chasing him around the world.
- Peter believes in hyperinflation,
and I'm like
"Peter we've printed $25
trillion now globally,
and you have no inflation,
so wake the (bell dings) up!"
(all laugh)
Wake up Peter! No hyperinflation.
We're in a deflationary cycle.
- Okay, we're gonna include all of this
if that's okay with you guys.
This is good eh Sarah?
- It's great.
- Unedited!
- This is good.
We're entertainers here
today, entertainers.
As long as we got the message across.
