Don Durrett on Future Economic Challenges & Opportunities

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Andy Millette: Don duret! How you doing.

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Don Durrett: Andy good to be back.

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Andy Millette: Yeah, have you back? I am going out of town next week, and before I go out of town I really wanted to connect with you and get you on

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Andy Millette: to talk about what’s going on. 30,000 foot view in the macro world right now and then? What are your thoughts going into this second half

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Andy Millette: of the year.

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Andy Millette: going into.

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Don Durrett: Yeah, I have really strong opinions on

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Don Durrett: what the economy’s doing right now, and where it’s going.

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Don Durrett: I know that Wall Street is

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Don Durrett: really bullish, because the stock market has done so well.

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Don Durrett: Mean. Last year it was, you know, over 20, I think, even close to 30 for the year.

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Don Durrett: and is.

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Don Durrett: you know, really had one small hiccup in September.

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Don Durrett: and then got right back on the horse in October. And just, you know, 18, basically 18 months. I think right now, more than that. It’s been. And so it is. This actually goes all the way back to 2,009.

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Don Durrett: It’s like the fed in 2,009. They just basically said, Look, we’re going to support this economy. There was a lot of fear back in 2,008. And they’re like, we’re not going to let this happen. We’re not going to allow a recession, basically.

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Don Durrett: So everybody had this mentality, that. And then they were able to do it in 2,009. I I call it like like the Feds magic trick.

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Don Durrett: You know, and everybody just thinks that you know they’re kind of like the Wizard of Oz. They can, you know. They can do whatever they need to do.

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Don Durrett: It’s kind of the hold. My beer mentality, don’t you? Don’t question.

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Andy Millette: Right.

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Don Durrett: It’s invincible. And so

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Don Durrett: basically, I’m my point is that there’s a lot of bullishness on Wall Street because they they have a lot of belief in the fed. And they they had this idea that

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Don Durrett: that can do anything. And if the fed lowers rates

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Don Durrett: that’s just gonna fix everything. And then number 2,

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Don Durrett: I sound like Biden

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Don Durrett: is that a lot of people think that the Feds gonna start printing more money because we’ve been in this? Qt, so you have this combination of qt. Coming off so printing money, and they’re lowering rates, hey? We’re good, right?

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Don Durrett: But I’m not in that camp at all. And I actually think that things are really, really ugly and getting worse.

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Don Durrett: And it’s just a matter of time before this thing kind of, you know catches on fire. I call it my newsletter. I said that in July we’re just going to see a lot of knife wounds, so it’s like a slow bleed. It’s like you can’t.

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Don Durrett: you know, we’re not going to see one of these, you know.

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Don Durrett: big black swans, or, you know, meltdowns in the stock market. It’s gonna be kind of a slow bleed. So this week we had another one. I mean, they’re coming out slowly, and I could mention about 10 of them. I’ve been tracking these for a long time.

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Don Durrett: and a lot of people are like, well, Don, you’ve been saying negative stuff about the stock market all the way back in September of last year. It hasn’t happened

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Don Durrett: true, but that

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Don Durrett: really damage to the economy

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Don Durrett: has occurred.

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Don Durrett: The damage has occurred. Yeah, we’ve been. They’ve been able. We’ve been able to keep kind of skirting it.

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Don Durrett: But the underlying the foundation keeps slowly whittling away.

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Don Durrett: and the number that came out this week, the one there, the iphone was the Pmi for services. So the services Pmi has been above 50, which is growth, went under 50

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Don Durrett: which is negative growth. And the the manufacturing Pmis have been under 50.

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Don Durrett: And now we’re having the economic surprise numbers have been atrocious. If you go back all the way back to September. All the way to now the economic surprise numbers have been atrocious.

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Don Durrett: And then you start seeing people talk about this, so called retail apocalypse, I mean, when do you have a strong economy and a and people are talking about a retail apocalypse? The consumer is clearly having trouble here.

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Don Durrett: and the high rates are not going to go away overnight. So the high rates are still biting

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Don Durrett: right now. If, for instance, if you’re a real estate agent, or if you sell cars, you’re probably not happy. You’re probably just scraping by. You just probably got your head above water.

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Don Durrett: Barely, you know, barely making money here. This is not

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Don Durrett: strong economy, then consumer confidence numbers the Michigan consumer. Confidence number is around 75. That’s that. That’s recessionary era area.

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Andy Millette: Yeah, set.

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Don Durrett: Then I’ll mention one more thing that I’ve been talking on and on the banking system.

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Don Durrett: The banking system is the foundation of the economy in many respects.

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Don Durrett: because they’re the ones that they actually make money when they make loans. You mean you go and give them 10,000. They loan out, you know, 100,000. So if they’re not loaning out money that constricted to the economy, so they real estate, I mean the banking system they’re about. I’m not gonna say number one. The balance sheet.

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Don Durrett: Their balance sheets are not healthy because they’re holding all of these bonds that are underwater.

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Don Durrett: Their commercial real estate

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Don Durrett: is losing money, and will continue to lose money for at least the next 12 months, maybe the next 24 months, and we’re not talking about little dollars here. We’re talking about hundreds of millions that they’re gonna lose.

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Don Durrett: I mean, you have to be blind, not to be seeing these stories about these buildings that are being sold for half of their value half of their value, like 5 years ago.

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Andy Millette: Right.

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Andy Millette: and there’s 1 that was sold for a dollar.

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Don Durrett: Yeah.

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Andy Millette: Article about that. They just wanted it off the books.

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Don Durrett: Yeah, yeah, the the last thing I’ll mention about Banks is

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Don Durrett: the credit cards is one of their big profit areas.

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Don Durrett: And now, all of a sudden credit doing credit. Card delinques are starting to spike up.

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Don Durrett: So the banking system is not healthy. The housing industry is not healthy, I mean, where’s the green shoots? I mean, where’s the growth? And so it’s like, I said earlier, it’s like a don’t worry. The fed. They’re gonna they’re gonna lower rates. They’re gonna inject money. We’re good. Everything’s gonna just off to the races.

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Andy Millette: Well, it’s interesting that you say all that because the last

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Andy Millette: handful of guests I’ve had in the last

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Andy Millette: 2 months they’ve all this is like a repeat. You’re saying the similar thing.

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Andy Millette: And it’s like, well, it’s hitting.

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Andy Millette: I don’t care what the stock market’s doing. It’s hitting right now, and it’s gonna hit through the summer. That’s when it’s go and it will hit. Continue to hit through the summer. It’s really gonna have have an interesting summer.

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Andy Millette: So I guess. Where does that leave us now with with all of this hitting? And the really the banking sector really seizing up where does this leave, I guess.

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Andy Millette: Yeah, what’s your outlook?

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Don Durrett: But now now I’m gonna say something that nobody else has said, because I’m I’m I actually I’ve been.

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Don Durrett: I consider myself kind of a visionary of the future. And I’ve been

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Don Durrett: researching the future since 1989.

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Don Durrett: And I’ve basically I’ve watched it unfold. I’ve actually expected all this this deterioration.

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Don Durrett: The Economy Ox expected it because you can’t print prosperity.

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Andy Millette: Right.

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Don Durrett: You can’t manipulate growth.

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Don Durrett: you can for a certain period of time, but it doesn’t last forever.

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Andy Millette: Yeah.

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Don Durrett: So

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Don Durrett: I knew this was coming. But the other thing that I knew that was coming

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Don Durrett: was

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Don Durrett: the what’s happening with our political system, deterioration of our political system. I I knew that was coming, too, and I the other thing. I always thought the economy would actually go. I thought the economy was actually going to go down 1st and then the political system. But it’s actually been the political system that’s actually imploded. First.st

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Andy Millette: Yeah.

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Don Durrett: And now the economy is coming next. And the only thing that’s really holding up America. It’s interesting. We’re doing this on July 4.th

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Don Durrett: The only thing is holding up America is the economy.

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Don Durrett: And what I’ve been saying is that

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Don Durrett: when this economy goes down this business cycle

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Don Durrett: and I’ll and I’ll give some arguments, for the reason why I think I’m right

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Don Durrett: is that when this economy goes down it’s not coming back.

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Don Durrett: And so, and a big reason why it’s not coming back is because our political system is what is not is not going to allow it to come back. For one thing.

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Don Durrett: And we can see this we can. It’s so obvious to anybody that

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Don Durrett: Washington is and kind of the wheels have come off the off the rails kind of thing.

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Don Durrett: It’s just deteriorate. I mean, look at all this money that we’re giving to U the Ukraine war. It’s like, why is the Ukraine war? Our responsibility. What in the is going on over there? We spent what 200 300 billion dollars on that? How much do we spend on Afghanistan? More than that. What’s going? America is deteriorating. We’re spending all this money in foreign. It’s the same thing.

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Don Durrett: you know, history rhymes right? It’s you know, it’s basically Rome. Repeating is the same thing. Right? And so we

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Don Durrett: we are. Our empire is coming to an end here. This is it.

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Don Durrett: And I’ve been saying this 2024 is the last year.

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Don Durrett: It’s literally the last year. This is our last July 4, th where people are celebrating America

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Don Durrett: with the expectation that they’re they’re going to do the same thing next year.

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Andy Millette: Right.

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Don Durrett: A year from now. The next July 4th comes around. They’re gonna the people are gonna be saying, I wonder how many of these more we have. I mean, that’s how much things are gonna change between the next 12 months. And when we get to the, it’s what I said, because we’re not gonna recover from this.

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Don Durrett: the the bond market. And I I can tell you, remember, I said I was gonna give you some reasons why cover from it. So if you go back to 2,000 and and 9, we basically didn’t have any inflation. The Fed could print whatever they wanted to print. And they could take interest rates to 0

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Don Durrett: easy peasy.

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Don Durrett: And they did it. And and that recession was over in June of 2,009, because of that ability, those tools

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Don Durrett: well, guess what? Neither of those tools are at their at their disposal right now. They cannot take rates to 0,

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Don Durrett: and if they even tried to take it to 0. It would take them at least 2 years to do it. They couldn’t do it in 6 months or a year. Take them some time right? And when they did that it was be. And here’s the reason why they can’t take them to 0 is because they can’t print

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Don Durrett: as much money as they’re going to need to print.

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Don Durrett: because they printed about 4 trillion in 2020. Some people say more.

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Don Durrett: and that kind of liquefied the economy. But this time

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Don Durrett: we’re going into this recession with with inflation. So

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Don Durrett: if they print too much, it’ll create too much inflation, and if they lower rates too much. Then you you create this imbalance

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Don Durrett: within negative real rates. It just it just starts breaking things. And so they’re trapped. Basically. And then what happens is they create a doom loop, and the doom loop is, the more they print, the more they hurt the economy.

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Don Durrett: and the less they print, the more they hurt the economy. There’s nothing they can do. There’s no sweet spot. And so

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Don Durrett: what’s gonna happen is

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Don Durrett: they’re going to lower rates, and they are going to print absolutely. Everybody expects that.

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Don Durrett: But when it doesn’t generate, because usually what happens when they cut rates is the economy actually goes swoons with it.

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Don Durrett: And so the economy will. And it’s slowing right now. And so. And the one thing that’s gonna slow the economy more than anything, is the stock market. The stock market falters. That’s when companies lay people up.

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Don Durrett: Companies don’t lay people off because Gg. Gdp, or even what consumers are doing. They usually lay them off because they want to keep their jobs.

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Don Durrett: So they get rid of. I mean, labor is usually the number one thing I mean, if you go back, and you look at some of these Mag 7 stocks like Meta and Amazon. One of the reasons why their stocks did so well, because they cut labor back.

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Don Durrett: cut labor back, and that really supports your earnings. And so that’s 1 of the 1st things to go. And that’s why labor is always is a lagging indicator, because labor is what gets cut after things start going south.

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Andy Millette: You! Up.

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Don Durrett: And we’re close to labor going up.

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Don Durrett: I know Jeff Snyder actually has had a he always has videos on the economy. Had one out yesterday. Talking about unemployment is starting to go starting to go.

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Don Durrett: and Jeffrey gunlock says that once unemployment is above 4.

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Don Durrett: Katie bar the door.

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Don Durrett: So we’re we’re we’re just about there. Now, back to my thesis about, I said. Nobody else is talking about this about America, not

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Don Durrett: basically having a normal business cycle where

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Don Durrett: you go into a session.

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Don Durrett: and you kind of get through it, and the fed gets you back on your feet and off to the races again.

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Don Durrett: But this time that’s not gonna happen. And and here’s the doom loop.

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Don Durrett: So

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Don Durrett: the stock market goes down

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Don Durrett: and nothing in the in the what the Fed’s doing with cutting rates and injecting money is not helping. It’s basically not working.

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Don Durrett: And then the fed start. The fed basically starts to panic.

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Don Durrett: and Tregry will start to panic.

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Don Durrett: So the treasurer will do a stemmy

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Don Durrett: some type of a stimie. Well, that’s bad for bonds

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Don Durrett: and and the fed will panic, and they’ll start printing money.

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Don Durrett: and that that combination

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Don Durrett: will start to damage the bond market.

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Don Durrett: And and that’s where your doom loop hits, because once the bond, the bond market’s everything. The bond market is much more important than the stock market, much more important.

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Don Durrett: The market weakens. It’s like it’s really game over situation. About 30% of our

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Don Durrett: Stock market is foreign money.

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Don Durrett: And foreign money is basically based on this idea that the Us. Has the best economy, the best bond market, the best currency best of the best of the best kind of thing.

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Don Durrett: Well, if people start to get nervous, that America’s in trouble. Yeah, it’s gonna start you and pulling out. Well, if that happens, not only will they pull money out of the stock market, but they’ll also dump bonds.

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Don Durrett: and they won’t buy them, either, and that doom loop.

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Don Durrett: and that’s what’s going to happen

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Don Durrett: between now and the 1st quarter next year. The and then, once the doom loop starts

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Don Durrett: the Us. Treasury

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Don Durrett: and the fed cause, they work hand in hand. So much for the fed. Being private right, they work.

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Don Durrett: They will basically have a meeting and say, What do we do?

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Don Durrett: And they’ll they’ll go. There’s only one choice.

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Don Durrett: and the choice is we have to cut spending, because if we don’t cut spending.

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Don Durrett: there’s no, that’s the only way out. We can’t print our way out, so we have to cut our way out.

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Andy Millette: Yeah.

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Don Durrett: And so

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Don Durrett: and and that’s, you know, that’s the end. Because at that point they basically through up the white flag. And they say that the the printer doesn’t work anymore. And when, say, the printer doesn’t work anymore.

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Don Durrett: wall Street’s gonna totally freak out right? It’s like, Oh, my God, they they can’t fix the problem.

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Don Durrett: There’s no solution here. And so that’s that’s we’re going. I’ve been saying that we are going to get to January first.st We’re gonna look back. And we’re gonna say, what just happened

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Don Durrett: and what just happened was really a recognition

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Don Durrett: that

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Don Durrett: what we’ve been doing for the last 20 years isn’t going to work anymore.

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Don Durrett: And now, what

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Don Durrett: do we do? We do. We have a path forward and believe it or not. We don’t.

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Don Durrett: because our political system is broken, and it’s not fixable, and if the political system wasn’t broken, then we would have a path forward absolutely. But the political system, like, I go back to Rome. Their political system broke, too. So it was a combination of economics and politics which is exactly what’s happening to us today.

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Don Durrett: American Empire is dying. And so we are. We are going through this process of change and and the change. We’ve the change started in 2016 and in 2025. It’s gonna pick up speed.

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Don Durrett: and from 2025 to the end of this decade it’s like, Oh, my goodness, America will not look the same by the end of this decade

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Don Durrett: in May, in in so many different ways, our political system, our economic system, our social systems. Everything’s gonna change dramatically from from now until the end of the decade.

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Andy Millette: Yeah, you brought something up? Well, you brought up a lot of great points. But about the bond market I

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Andy Millette: I used to trade for a hedge fund

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Andy Millette: 15 years ago, and we would watch

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Andy Millette: the bond market like a hawk.

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Andy Millette: That was the big indicator where interest rates were, where they were moving.

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Andy Millette: And so, yes.

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Andy Millette: the bond market’s everything.

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Andy Millette: I would agree. And then the second thing, because it’s a debtor system.

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Andy Millette: The second thing

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Andy Millette: that you mentioned that, I think is really key, that not a lot of people are talking about. And you you really hit on it is

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Andy Millette: foreign money coming back home.

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Andy Millette: and I don’t know how familiar you are with the yen carry trade. But I had a guest on. I had 2 guests on the last 2 months.

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Andy Millette: and one was adamant. That that’s ending.

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Andy Millette: and the second one, his name is Simon Hunt. He’s out of Dubai.

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Andy Millette: and he was

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Andy Millette: his thesis is not so much that concrete that’s ending. But he’s asking the question

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Andy Millette: when Japan calls her money home.

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Andy Millette: What happens then?

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Don Durrett: Exactly.

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Andy Millette: That’s scary, I think. And I’m not. A lot of people aren’t talking about that, and they’re not aware of it.

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Don Durrett: She’s

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Don Durrett: yeah. I’m I just told you America’s ending. I mean, that’s scary, all right.

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Andy Millette: Nobody’s told me that nobody’s told me that. So

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Andy Millette: well, okay. So let’s now project here. So we’re in the. We’re going into this storm right now. That’s your thesis, and I’m very sympathetic to this thesis

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Andy Millette: and so we got 6 months here.

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Andy Millette: Let’s talk gold and silver. Then

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Andy Millette: that’s been very, very firm.

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Andy Millette: even though we’ve had a recent correction.

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Andy Millette: Would you see that staying firm through the end of the year? Or if we do have a start stock market correction, which I think is very likely.

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Andy Millette: Do you think those sell off? And what happens with the equities in both gold and silver.

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Don Durrett: Well, gold is actually

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Don Durrett: telling us is a really important story here that something’s wrong.

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Don Durrett: You you never see gold trading at all time highs with the stock market at all time eyes they usually trade inversely strong. Strong stock markets means strong economy means weak gold. Also, a strong dollar

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Don Durrett: usually means gold is down. They.

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Andy Millette: And interesting.

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Don Durrett: So both of for for goal to be training on near all time. Highs

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Don Durrett: tells you something is wrong. There’s something wrong going on here. People.

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Don Durrett: And it’s not inflation.

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Don Durrett: Inflation is

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Don Durrett: as we speak. It’s we have a cost of living problem right now, but not an inflation problem.

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Don Durrett: In other words, prices aren’t going up, you know. It’s more there they went up, and there’s now there was still up. I mean that that.

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Andy Millette: April.

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Don Durrett: That’s the problem with prices. But gold isn’t

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Don Durrett: yeah. Goals, goals, not. It keeps isn’t staying strong because we have inflation. It’s it’s staying strong because there’s something’s wrong. There’s a lot of uncertainty, and something’s about to break here.

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Don Durrett: Now. I turn bullish on Golden on about the 1st week of April

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Don Durrett: once. Gold broke out I I it just. It was such a strong move to 2,400.

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Don Durrett: It’s like this is a very, very powerful move. It broke out in the 1st week of March

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Don Durrett: and me from my breakouts. I like to see about 2 weeks. So yeah, the

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Don Durrett: last week of March 1st week of April. 2 weeks are really strong

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Don Durrett: goal prices. I I basically term bullish at that point, and gold has remained over 2,300 since then. So we’re we’re looking, you know. March, April, May, June.

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Don Durrett: it’s been a and now we’re into July. We’ve been. This is a very gold has been very, very strong.

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Don Durrett: My range, you know. I’m expecting a correction in gold.

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Don Durrett: but but not a deep dip. So

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Don Durrett: when the stock market rolls over.

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Don Durrett: and I think we’re just going to get knife wounds in in July. But I’m thinking, August or September

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Don Durrett: one of those 2 months. I’m expecting the stock market to start basically rolling over

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Don Durrett: and at that point

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Don Durrett: I think gold will get some type of correction. Now, my range was 2,000 to 2,200. But I’m becoming more and more bullish. That 2,200 is now the new low.

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Don Durrett: and if we go below 2,200, it’ll be short. Lived at 2,070 was the breakout. So I you know it’s possible you go back there and touch 2070, 2,100. But we might not.

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Don Durrett: 2,200 might hold here. That’s how strong gold is, because

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Don Durrett: this is where it gets real interesting. Gold wants to go higher. The stock market and Dot and the Dollar want to go lower.

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Andy Millette: Yeah.

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Don Durrett: Like gold is leading the way and the stock market and the dollar. They’re basically they’re just posers.

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Don Durrett: They’re just pretending.

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Andy Millette: Private.

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Don Durrett: They’re they’re both just bubbles here. They’re they’re not the Re, the real Mccoy, the real Mccoys goal goal, wants to go higher and everybody’s saying it, you know. 2,700. There’s a lot of people, though, on on Wall Street that have targets of $2,700 goal.

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Don Durrett: And I think that’s what we’re going to end up by the end of the year.

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Don Durrett: So

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Don Durrett: goals, the real Mccoy here. But we’re gonna get a little bit of a dip. But I’m

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Don Durrett: I’m not really waiting for that dip. If if I get free cash, I’m going to buy some miners here, I’m not going to wait for the dip, because I don’t think it’s going to be deep.

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Don Durrett: Yeah.

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Don Durrett: I I will. If if the Smp gets below 4,800, I think that’ll be right around there. Right? So today’s about 5,500. It’s about a 10% drop from here is a little bit more than you’re about 12% drop.

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Don Durrett: That should be the area where gold bounces, where it hits its bottom right around 4,800 smb, so

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Don Durrett: I am holding, you know, there’s there’s a couple of stocks I’ve always wanted that I’ve never owned. Those are my last ones we get to. I will. I’ll hold a little bit of cash for those 2 stocks, but everything else I’m buying. I’m I’m not. I’m not really waiting for a big dip here. But what I my expectation, you know every time you expect something usually doesn’t unfold like you. You think it will.

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Andy Millette: Correct.

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Don Durrett: Exactly which frustrates me to know in, because it happens kind of sorted, but not exactly

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Don Durrett: So we don’t know how far a goal will dip when it will bounce, I think, when it will. Bounce is a big unknown here.

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Don Durrett: Does it bounce in September, or do we have to wait all the way until October, December.

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Don Durrett: I do think it’ll bounce October, November, December. I do think it will bounce before the end of the year, but I don’t know when I mean it’s possible. Go get stuck in this narrow trading range from, you know, 2,200 to 2,300 2,200 to 2,400. Now the breakout points for gold and silver.

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Don Durrett: For me. There’s there’s like 3 numbers for gold. This breakout is 2,500 for silver. It’s 35, and for the hooey it’s 300.

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Don Durrett: So those are my breakouts that I’m waiting for. Once we hit those. It’s like break out to champagne.

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Don Durrett: But we might not, you know we might not. We might have to wait all the way until December for that to happen, but I think it could happen as early as October.

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Andy Millette: Yeah.

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Andy Millette: that fits well, too, with what you’re saying is you’re not.

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Andy Millette: You’re just going to accumulate it with any.

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Andy Millette: with any cash you have any access.

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Don Durrett: I have been a group. I have been aggressively since Septem, April.

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Andy Millette: Yeah.

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Andy Millette: Well, well done. Well, I don’t. I would love to take keep you longer, but I really can’t. What? How can people find you and

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Andy Millette: What are some final thoughts until I have you on again. In the next couple of months.

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Don Durrett: Yeah, let’s do the final thoughts, and I can say where they they can find me.

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Don Durrett: so I I think that

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Don Durrett: the reason why the miners have poor sentiment.

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Don Durrett: cause they have had. I mean, if you look at Newmont, it it did get to 43, but I mean it’s Newmont and Barrack are well off their cycle highs. The New Month cycle high was 82

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Don Durrett: and April at 2282. It’s currently trained at 43.

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Andy Millette: Like to.

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Don Durrett: Wall Street has not been interested in the minors, and the reason why

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Don Durrett: is you have to understand what what creates sentiment in the minors. So if you go back to the 70 s.

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Don Durrett: The seventies was really

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Don Durrett: kind of a risk off sentiment period. Basically, you had, you know, notice, you didn’t have a strong economy in the seventies. So when you don’t have a strong economy, you have kind of a risk off flavor and and the gold outperforms. The market

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Don Durrett: that was from 1970 to 1980, and then from 2,000 to 2,010. Another decade was the same thing.

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Don Durrett: You basically had uncertainty in the stock market, which created a kind of a risk off flavor

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Don Durrett: and in tandem. With that you had gold outperforming the market.

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Don Durrett: Well, we haven’t had that since 20

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Don Durrett: 11. So now that’s what’s coming back.

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Don Durrett: And people don’t really. So they they have a hard time

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Don Durrett: kind of wrapping their head around. You know these cycles, how they it’s they will come back. And when they come back

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Don Durrett: that it’s gonna be really good for Golden, the miners. So what you need is the combination

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Don Durrett: of higher gold prices

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Don Durrett: outperforming the market

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Don Durrett: in tandem. With this

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Don Durrett: risk off flavor. And right now we don’t have a risk off flavor. We have a risk total risk on.

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Andy Millette: Whisk on flavor.

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Don Durrett: Very little, very little cash on the sidelines is like, buy as many stocks you get your hands on kind of thing. There’s actually more people right now are in the stock market than in 2,008. It’s like, it’s crazy. So it’s big risk on. So

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Don Durrett: when that turns.

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Don Durrett: it’s gonna be really good for the for stocks. And so

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Don Durrett: then the other thing I wanted to say is that

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Don Durrett: I really feel that

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Don Durrett: this is the last opportunity. So we’ve basically been in a

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Don Durrett: 12 year. I mean something like that bear market for miners. We had a little bit of a bump in 2016, little bump in 2020. But by and large I mean your 10 plus year, basically bear market and miners. And they’re still. They’re still cheap. They. Still, they’re still they haven’t broken out. My point is that

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Don Durrett: we don’t have. You’re you’re not gonna have much more time to buy them cheap.

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Don Durrett: because once these stocks double, you know, once once New month goes from 40 back to 80, and it’s not gonna take long, like all the stocks. It’s like it won’t. You’re gonna lose these, your your opportunity for a lot of the quality stocks is gonna be gone. And so

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Don Durrett: ye you don’t want this thing to get away from you too much. I think you really want to buy sub 300 on the Hui, and we’re 260.

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Don Durrett: Yeah, actually, we’re over to 276. Right now, 10% move. So we have about a 10% move up.

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Don Durrett: There’s still opportunity. I I’m thinking. We got about

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Don Durrett: 60 to 90 days

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Don Durrett: a buying opportunity.

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Don Durrett: And that’s about it, and then it’ll be kind of over as far as getting really big alpha getting some of these really cheap names. I think most of these stocks, most of these stocks are gonna double.

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Don Durrett: And once they double, I mean, you’re just gonna go darn it, you know.

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Andy Millette: Be.

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Don Durrett: It’s it’s they’re not so juicy anymore if you will. Okay, so that’s my final thoughts. And then where to find me. My, you know my website, Goldstock data. So the gold stock data is is for anybody that already owns a gold and silver mining stock.

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Don Durrett: It’s not really. If you don’t own. I’m I’m not there to say, Okay, here, buy this. It’s not a stock picking site. It’s for people to do their own research.

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Don Durrett: It’s a has a massive database.

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Don Durrett: 850 stocks with a lot of data. So it’s for people that already own them who want to buy more of them and then you can follow me on on Twitter at don duret I’m on there, and then I have a I have a community on Twitter.

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Don Durrett: so if you go to my profile on Twitter, it’ll show you that

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Don Durrett: my community that you can join so 1,000 people in there. Right now, thing is cool about the community is there’s no bots in there because you have to be member of the community to post. So that’s fine. There’s no commercials. I don’t think there’s ads in in communities, but there might be

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Andy Millette: I haven’t seen one.

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Don Durrett: Right. I don’t think there are yet. I think they want these communities to grow. But but no bots, which is nice, and then we’re the only thing we’re posting about in that community is gold and silver. So, Andy, thanks for having me on. I think this is really good. I think a lot of people are gonna be interested in it.

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Don Durrett: and so have a yeah, have a good 4th again, this is the last one where you’re gonna have no doubts that America will be here in 12 months from now.

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Andy Millette: Don, as always, very, very stimulating. So I do love having you on and looking forward to having you on again real soon.

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Don Durrett: Alright, very good, Andy, have a good one.

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Andy Millette: We’ll get one.

 

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