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JUST ABOUT EVERYONE FOR
PRESIDENT BIDEN THINGS AMERICA
IS HEADING TOWARD RECESSION.
PRESIDENT SAID RECESSION IS NOT
INEVITABLE.
THAT’S NOT EVEN A THING THE
ECONOMISTS ARE SAYING OPPOSITE
AND WITH GAS AND FOOD PRICES
SOARING.
AVERAGE AMERICAN IS $9000 IN
SAVINGS SPENT LAST YEAR SO WHAT
CAN YOU DO TO RECESSION PROOF
YOUR FINANCES?
HE WITH ME NOW, CHIEF INVESTMENT
OFFICER AND FOX NEWS CONTRIBUTOR
CONTRIBUTOR, NOT SCOTTY.
SCOTT MARTIN IS HERE.
>> BODY KARATE, HOW ARE YOU?
B2 VERY HAUGHTY.
HA UG.
>> OPERATION IS KEY.
KENNEDY: JEROME POWELL IS THE
FED CHAIR, HE SAID INFLATION WAS
TRANSITORY AND NOW THE PRESIDENT
IS SAYING IT’S NOT GUARANTEED,
WE ARE GOING TO BE IN RECESSION,
WE MIGHT ALREADY BE IN RECESSION
RECESSION.
>> I THINK WE ARE AND TALKING
ABOUT THIS LONG CALL UNTIL
THINGS GET BETTER, HE’S FINALLY
COMING TO GRIPS WITH REALITY AND
YOU ARE RIGHT ABOUT JEROME
POWELL AND JANET YELLEN SAYING
SIMILAR THINGS AND SAFE AND
CULPABLE AS FAR AS HOW THEY VERY
CONSUMER UNDER INFLATIONARY GAPS
SO THAT’S HURTING A LOT OF
COMPANIES.
WE SAW EARNINGS FROM TARGET AND
AMAZON AND OTHER COMPANIES
TALKING ABOUT THE PRESSURE AT
THE SHELVES AND CONSUMERS
TALKING ABOUT WHAT THEY HAVE HAD
WITH GAS AND FOOD PRICES
AFFECTING SPENDING SO IT’S
EVERYWHERE AND IT’S ABOUT TIME
THE PRESIDENT GETS A GRIP ON IT.
KENNEDY: LIKE I SAID LAST BLOCK,
IT’S HARD TO GET A GRIP ON
SOMETHING IF YOU CAN’T NAME IT.
AN INCONVENIENT TRUTH THAT YOUR
POLITICAL FORTUNES ON THE WAY OF
THE ECONOMY AND THE ECONOMY
HEADING SOUTH VERY QUICKLY, WE
ARE NOT GOING TO GET ANY ANSWERS
OR RELIEF AND THAT MEANS PEOPLE
WILL HAVE TO DO THINGS FOR
THEMSELVES.
A LOT OF PEOPLE ARE COMING TO
GRIPS WITH THE FACT THAT THE
FEDERAL GOVERNMENT ISN’T GOING
TO HELP THEM.
PEOPLE IN CHARGE WHO WANT TO BE
REELECTED, THAT’S ALL THEY CARE
ABOUT, THEY TRULY DON’T CARE
ABOUT YOUR PAIN AND I’M SORRY
FOR THAT.
WHAT CAN PEOPLE DO?
HOW CAN PEOPLE RECESSION PROOF
THEIR OWN ECONOMY?
>> PREPARATION IS KEY SO SAVE
MORE MONEY IF YOU CAN’T, YOU’RE
SPENDING MORE OF THE STORES AND
THAT’S TOUGH.
ALSO DO TRAINING SO YOU MAY HAVE
A JOB, YOU MAY BE LOOKING FOR A
JOB BUT ALSO DEVELOP NEW SKILLS
AND IT’S IMPORTANT TO TELL
CLIENTS, DON’T PANIC OR MAKE
RASH DECISIONS AND RUN OUT OF
THE MARKET, TAKE PRACTICAL STEPS
OR PRAGMATIC STEPS AND THINK
ABOUT YOUR FUTURE BUT MAKE SURE
YOU HAVE A PLAN IN PLACE NOT TO
MAKE RASH DECISIONS AND DO
THINGS DETRIMENTAL TO YOUR
FUTURE.
KENNEDY: EXACT, PEOPLE LOVE TO
DO PANIC SELLING WHEN THEY FEEL
THE ECONOMY IS CRATERING AND
THAT IS THE WORST THING YOU CAN
DO.
WHAT ABOUT GOLD?
I LOVE GOLD.
>> I LOVE GOLD, TOO.
THEY USED TO CALL ME GOLD MEMBER
BACK IN THE DAY BUT -- EXACTLY.
IT’S A TRUE GOLD HELPS VALUE
PRETTY WELL AND INFLATIONARY
MARKET, IT’S SOMETHING WE’VE
BEEN PUTTING IN OUR PORTFOLIO IN
THE STOCK MARKET AND BOND MARKET
MARKET.
KENNEDY: WE’VE GOT AN EXCHANGE
SYSTEM, A COUPLE OF STORIES WITH
THEM AND IT’S HYSTERICAL BECAUSE
A DIFFERENT ENVIRONMENT NOW THAN
IT WAS AT THE BEGINNING OF COVID
AND PEOPLE ARE GOING AND TRYING
TO SELL THEIR GRANDMOTHER’S GOLD
TEETH, WHATEVER THEY CAN TO GET
MONEY FOR THE GOLD AND BUYING GOLD AND PLATINUM AND SILVER.
GOLD AND PLATINUM AND SILVER.
I LOVE SILVER ALSO.
>> JUST DON’T BUY CRYPTO WITH
IT, THAT’S WHAT I WOULD ADVISE.
BUT IF YOU CAN GET MONEY FOR
GRANDMA STEVE, THAT’S ALL GOOD
AND FAIR GAME.
KENNEDY: I STILL LIKE CRYSTAL,
I’M NOT MAD AT IT.
[LAUGHTER]
>> CRYPTO WON’T HAVE THE SAME
VALUE OVER TIME.
WE TRUST GOLD A LITTLE MORE
ESPECIALLY IN INFLATIONARY
ENVIRONMENT.
KENNEDY: I’M GOING TO BUY CRYPTO
WITH GOLD AND BE A BILLIONAIRE
AND STAY AWAY ON MY YACHT AND