THE S&P 500 JUST SIX POINTS
AWAY FROM ENTERING A BEAR
MARKET.
THEY SLIPPED INTO A BEAR
MARKET LAST FRIDAY.
JOINING THE RUSSELL 2000.
INVESTORS ALSO FOCUSING ON
PRESIDENT TRUMP'S REPEATED
ACTS ON THE FEDERAL RESERVE.
I WOULD LIKE TO JUST JUMP
RIGHT IN.
WHAT DO YOU MAKE YOU MAKE OF
THE PRESIDENT AS WELL AS
INVESTORS EMPHASIZING THAT
SAID HIKES.
DO YOU THINK IT'S POSSIBLY
MISPLACED.
THE FACT OF THE MATTER IS
GOING BACK TEN YEARS THEY
INTENTIONALLY RE- INFLATED THE
HOUSING BUBBLE AND THE STOCK
BUBBLE.
THEY DID THIS INTENTIONALLY.
AND THEY SUCCEEDED IN THAT.
SO PRESIDENT TRUMP DID NOT
CREATE THIS BUBBLE.
THIS WAS CREATED BEFORE HIS
PRESIDENCY.
I THINK IT DOES APPEAR TO
REMAIN STRONG.
AND IT'S CERTAINLY GROWING AT
A MORE ROBUST RATE NOW THAN IT
WAS IN THE FINAL YEAR OF THE
LAST TERM.
>> I'M ACTUALLY GOING TO STICK
WITH THAT THEME.
THE ECONOMY IS GROWING WHICH
IS JUST MENTIONED.
WHAT ABOUT DEBT.
DO YOU THINK THE DEBT MARKET
IS SOMETHING THAT WE REALLY
NEED TO BE CONCERNED ABOUT.
>> I AGREE THAT THEY HAD
REINFLATED THAT.
IT'S NOT VERY SURGICAL.
INSOFAR AS WE MIGHT HAVE
EXACERBATED THE VIRTUOUS CYCLE
OF THE ECONOMY WITH THE TAX
CUTS 2017, 2018.
AS THEY HAVE SWUNG TO
OPTIMISM.
I THINK WE ARE GOING TO SWING
BACK THE OTHER WAY.
THE MARKET HAS ALREADY
DROPPED.
QUALIFIES AS THE BEAR MARKET.
WE'VE ALREADY ENTERED THE BEAR
MARKET.
AND I THINK IT WILL STAY THIS
WAY FOR THE FORESEEABLE
FUTURE.
JOE, I WAS READING THE NOTE
PRIOR TO THE SHOW.
ABOUT SUGGESTING MORE TAX CUTS
GOING INTO 2019.
I'M A LITTLE BIT CONCERNED
ABOUT THAT.
GIVEN THE LACK OF INVESTMENT
WE SAW FROM COMPANIES THIS
YEAR.
>> WE NEED TO ACTUALLY FOCUS
ON WHAT PRODUCES LONG-TERM
GROWTH.
WE'VE SEEN OVER THE PAST YEAR
INCREASE.
WE NEED THE LONG-TERM BUSINESS
INVESTMENT.
THEY WERE DEFINITELY A
POSITIVE.
YOU CAN EXPECT THE TAX CUTS TO
ADD ABOUT .3% TO ACTUALLY
PRODUCE MORE GROWTH.
AND ACTUALLY STOKE CAPITAL
INVESTMENTS.
AND THAT DID ACTUALLY FLOAT
LAST QUARTER.
WE NEED TO ENSURE THAT WE
INCREASE THAT FOR THE
LONG-TERM.
>> I WANT TO GET TO A BIT
COIN.
LAST WEEK THERE WAS A BOOST IN
VALUE.
DO YOU THINK THAT MAY BE OF
MAYBE THE TIDE HAS TURNED AND
THINGS WILL BE GREEN GOING
INTO 2019.
IT JUST PAR FOR THE COURSE.
WE'VE SEEN 470% DROPS.
IT'S SOMETHING OF DIGITAL
VALUE THAT YOU CAN HOLD.
THAT CAN BE REPLICATED.
I THINK IT IS A BIGGER STORY
THAN JUST BIT COIN.
WE HAVE SEEN THE EXACT
OPPOSITE OF IT IN THE LAST
COUPLE MONTHS.
I THINK THE BIGGEST THING WITH
TECHNOLOGY YOU CAN NOW HAVE A
BEAR INSTRUMENT.
THE MARKET CAP IS 1% OF GOLD.
IN THE MARKET CAP CAP IS ONLY
1% OF THE TOTAL MARKET CAP.
WHY HAS THERE BEEN NO MAJOR
ADOPTION WITH STORES AND
RESTAURANTS IN TERMS OF JUST
TRADING IT.
NO ONE WANTS TO USE THAT AS A
MONETARY UNIT.
ONE OF THE OTHER ISSUES IS THE
NETWORK IS VERY SLOW.
IF YOU CAN BUY A CAR -- COFFEE
AT STARBUCKS.
YOU CAN TAKE UP TO AN HOUR TO
GET THOSE SIX CONFIRMATION.
THEY ARE ALLOWING FOR THESE
TRANSACTIONS TO HAPPEN
INSTANTANEOUSLY.
I AM LOOKING FOR THOSE TO BE
KIND OF ROLLED OUT IN 2019
WITH THE EXCHANGE.
THEY WERE ACTUALLY DELAYED.
WHAT HE MAKE OF THAT IN TERMS
OF CONFIDENCE.
THERE IS A DEMAND FOR THE
CRYPTO CURRENCY BOUGHT CHAIN.
AND THERE IS A FEAR OF LONGER
TERM THAT CAN BE VALUED
THERE.
THEY ARE UNPROVEN.
AS FAR AS RETAINING THEIR
VALUE.
IF YOU LOOK OVER THE PAST YEAR
THE VALUE HAS GONE DOWN IN
EXCESS OF 90%.
IT IS SOMETHING TO BE
EXPLORED.
THERE ARE CERTAINLY CONCERNS.
THERE ARE PRIVATE ENTERPRISES
THAT ARE WORKING ON
TECHNOLOGY.
TO REDUCE THE COSTS INVOLVED.
IF WE GO AHEAD AND ACTUALLY
RETRAIN THE FISCAL POLICIES TO
ENSURE THAT WE HAVE THAT.
AND THAT WE STOP DEVALUING THE
CURRENCY EVERY YEAR.