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March 2, 2020 3:24 pm
Today's Full Money Monday with David Fischer of Landmark Capital Gold, discussing BIG Financial News in the economy!
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Now here's your house okay were in the wild wild West. Just get used to it. It seems that the new normal these days.
So for just talking financially because were going to full money Monday update today and a lot to talk about today. I'm in the Dow Jones down last week. 12.4% S&P down 11.5% NASDAQ down tenant & was the worst weekly skid since 2008 and then today you got the Dow up 1294 points. It's up 5.1%.
It's just naughty is totally crazy in a coronavirus is on the middle of this and then politically any club shards out people to Judges out call Bashar endorsed Biden already bridges probably can move in that direction because now the Democrat party trying to coalesce with cut to come up with something to try to defeat Bernie Sanders because you got the uber capitalist president Trump versus the socialist/communist Bernie Sanders coming up in the fall, the Democrat party doesn't want that. So that's factoring in all of this and tomorrow super Tuesday no less. If you get this super Tuesday Alabama American Samoa Arkansas California Colorado Maine, Massachusetts, Minnesota, North Carolina, where we are at Oklahoma, Tennessee Texas Utah Vermont Virginia on the southern states, which are have not gone for the far left candidates ever for the most part got Alabama, Arkansas, North Carolina, Oklahoma, Tennessee.
Kinda Texas. So what's gonna happen there house that can affect the market. These are really, really wild days and so that's why were all looking forward to talking our friend David Fisher today because a lot to talk about what's going on the markets and coronavirus tomorrow on the show can be talking a lot about super Tuesday that super important. Tomorrow, if you're a registered voter in your not voting in the primary.
Shame on you. I will shame you between now and tomorrow is absolutely have a responsibility to be engaged in about 95% of self-professed Christians don't bother to vote in the primary, which is pathetic. That's dereliction of duty. That's a violation of neighbor love which means violation of God love I'll talk about that more tomorrow, but a big day tomorrow to talk a lot tomorrow.
Also about the coronavirus how that's affecting markets and and get some just fascinating stories about coronavirus and and we're not smooth. Don't be paranoid were not freaking out, but there's some very serious things going on with that. I got some great information I've been studying up on that some to share that tomorrow we've got a friend that's Colin, and tomorrow that's running in a U.S. Senate primary against Tom Tillis here North Carolina. Larry Holmquist is can a call in for a few minutes tomorrow because he's on the ballot tomorrow summer to give him a little bit of time to share so big show tomorrow.
Big show today, but were also so excited today because we got a brand-new affiliate, not as we continue our growth here in North Carolina. As were excited about that.
What the Lord is doing here. So our friends and especially a special thanks to Pastor Neil Jackson appeal Baptists because we got to be friends on a trip to Israel last year and he happens to also be in the Christian radio business or excited about that. That's WY TR 88.1 FM that's all the way from like Pittsboro, Detroit, and from Randleman the Southern Pines in Asheboro and Siler city in Sanford, so that's a great reach. There were continuing almost from all the way to Virginia border all the way down to the South Carolina border pretty much covering the entire middle of North Carolina now and now work start to push east and push West were already on in Asheville so that's part of our grand designer big scheme and were praying to the Lord, that he'll give us coverage over the entire state of North Carolina, which is exciting. So were our deal and that is a lot going on but work in our friend. Good friend David Fisher. It is a full money Monday today was a lot to talk about David Fisher from landmark capital landmark old.com is always David how are you I'm doing great. I don't have the coronavirus praise the Lord and the things that we should be freaking out about it, but we should be to sing it either because some of the stuff I'll share tomorrow just talks about how many beds do we have available based on how this thing is most likely going to spread and and whereas the mortality rate is and something were in a freak out about. It's actually worse than the flu and so there's a lot I'll be talk about that tomorrow but is just a while wild seven days on the market. I don't think we seen anything like this since 2008. Have we know that the biggest downturn and most violent downturn since 2008 and obviously there's a lot of money that was lost $6 trillion of the global market was lost 4.4 that was in the United States market.
So the numbers in the Dalles of the P and the NASDAQ from 11+13+ from 13 so we had a 4000 point drop in the Dow last week they met was the fastest drop in history along with the S&P also is just crazy and cynical and you know we've been talking and other people been talking. Is there is a recession coming as I was looking at a market correction. Then all of a sudden you have this coronavirus which was the really the trump card that the curveball that nobody could predict, obviously, but was that it seems like that was pretty much at the center.
The epicenter of what happened last week in the markets absolutely of art. I performed for the risk of the coronavirus American is low, but the financial risk but still remain high, and obviously last week the pace of it even though we had a phenomenal recovery today is the Dow up 5% 5.09% talk about or cause them to second notice a lot of things so city Piedmont through the Fed can be forced into doing quantitative easing, but the reality that they don't want to call it QT for both the big do that. Last September they still saying they're not doing it, but they are also said December a stock market is overvalued and looking for reasons I catalyst if you will. And here we are. The coronavirus is the catalyst. The market is still overvalued so you know, we can see just because river runs today's is no market go straight up, but no marker goes straight down. Although I might've felt like the last week certainly felt like that. Last week I guess. By definition, is in a market correction between 10 and 20% is and that is that. Can a textbook correction. There we hit the textbook correction. You know what happens about every three years but we haven't hit the big correction which happens every seven years or 11 years into this thing so this is not by any means. Don and you know that we could still see the that and so to don't get caught into thinking this is all done by this is not the virus is not being done to fix birth not being done will have a vaccine to have a test kit that's reliable in United States because of the FDA standards. So is Dr. Fakih, Anthony Foshee said that who's the head of the disease and control center.
He also said that were year to year and 1/2 away from a serum so the vaccination is widespread. Now if this were we a long ways to go.
The Lord is a lot we go to break some to pigeonhole David that we do this and this is a developing story obviously and nobody's got a handle on this when I can have a total hand on this. Even information widespread rates wise and this affecting the market people freaking out in the Fed comes out and says well I have maybe will lower rates on Wednesday. That's speculation will talk to David about that a lot going on a lot. We need to pay attention to this is Steve Noble will be right back in Connecticut Steve Noble to Steve Noble showed great to be with you. Talk doing a full money Monday update today could so much talk about those of you that are newer to the show.
Perhaps you listening on for broadcasting and so were thankful for that.
God is expanding our reach her North Carolina and so were thankful for you being here than today just added WY TR, which is not a Bennett. That's what this tower is 88.1 FM special thanks to my buddy Pastor Neal Jackson at Beulah Baptist for God can work in between the two of us to bring all this together and that's like Pittsboro, Asheboro Cyrus city Southern Pines in Sanford. So got just continue to expanding our reach so thank you for that. Praise the Lord.
Welcome to the show we've got this live every day Monday through Friday.
This is the ninth year daily and we did three years on Saturdays before. That's we been at it for a while but I've always been based here in Raleigh North Carolina on the campus of Southeastern Baptist theological seminary actually is where we broadcast from now.
And so, but you can also join us in the studio so when we had a commercial break on the radio we continue a conversation, sidebar conversation on Facebook lives of your Facebook person and odds are pretty good that you are just go to Facebook looking at presently that there and go to Steve Noble show on Facebook and you can join us in the studio on Facebook like Monday to Friday 4:56 PM Eastern. God willing, were always here talking our good friend David Fisher landmark capital. We do money Monday updates.
This fourth segment of the show on every every Monday of the month, but the first Monday of the month we do a first show in the timings excellent. Praise the Lord because so much craziness going on in the market down 12.4% last week up almost 5.1% today, 1294 points today just wild and coronavirus. So David again, thanks for being with us. But how is that help us understand how the coronavirus is factoring into this while fluctuation of the stock market will do everything in December that the market is looking for a reason to have a pullback in it frowned this reason before the coronavirus marker was recalled 20 times earnings from over there was overvalued because a normal earnings is due me around 13 or 14 and slight point of view as a reference when the when we are in 2008, the earnings was 21.5 times so we're very close to the same overvalued market that we were in 2008. So because of that, what happened is the market pullback he was looking for this reason because we don't know the implications of how coronavirus would happen. This course financially speaking. If pullback about 12% or so and that now it's down in the 17 times earnings, so it's still from a fundamental standpoint, it's still overvalued. Many analysts are saying hey the buying opportunity. You know by Windows versus correction number saying this is just a head fake.
Be careful market go straight up or straight down and were not through this yet. So there's probably more downside to come summer need any just like you don't go down as much as you do. Back to back five days in a row. You don't go up as much as it is one thing you know so there's, it's a call to market the fix is panicking, which is the index that tells us how much volatility years and you know normal number 320 were 47 when this all started were still in the low 40s are the low 40s high 30s but the world economic growth is slowing down and that's the key. The best case scenario were and how the 2.4% global economy growth. Worst-case scenario trying is going to go on a recession during the rest the world. And through it and you, the OECD, which is the organization for economic cooperation and development, said the recovery will be immediate and some lost output will never be recovered.
It's not like it plunges and then recovers quickly. The quote from them so were having some challenges from from China and grimaced you'll face those and they're still going to come about because we haven't had the first quarter earnings come out yet you swell our financial buddy TJ up in Chicago, always has some pretty funny sayings about this stuff put on Facebook like the market takes the stairs up in the elevator down. I don't know what these are really good and she's right on. It's so true, so we mention 2008. A couple times. How does this compare to the 2008 market collapse what's going on right now. 2008 it was the 17 month permit high down to a slow and it went down 54%.
This is the end of day and it it's down about 6.75%. When you factor in the 5% movement today right right and it is 2008 was a financial calamity that was broad-based on liquidity issues for Bear Stearns and Lehman Brothers template in the film.
The other areas.
This is not a financial thing.
But if this doesn't get under control. The greatest risk that we will force his government feel the need to do something quick and massive than you know.
Spending more money creating more dad almost things and keep in mind we have this corporate issue of debt that means green finance firsthand this year, so is this thing doesn't get under control, then it could lead into that very easily remember as as followers of Jesus Christ of this is the coronavirus of the markets are what's going on in the Democrat primary what's going on with the presidential race this this November and that and all the big races this November. Some of his massive is that we always need to hey pipe, Christian.
I should know the Bible. I should believe the Bible and follow the Bible. Second Timothy 17 is a great reminder. God's not given us a spirit of fear but of love power and a sound mind. So we don't freak out but have a sound mind means your sober minded in your wise and you seek out information so that you can make good decisions and that's why we don't freak out when we talk about these things but we need to be aware we need to pay attention and these are very serious day.
So do you think it's based on that, David.
The exit think the market would end up falling more, which means you no more of a correction or what you what you see. And at this point from your perspective on the actual scriptural use on my other national Christian radio program to New York with 124 stations and that is true. We have to be of sound mind and when you sell out of the market doesn't mean they are selling out fearful careful if you're buying mean you're buying up your associates give a sound mind. But the market is still being an all-around of 17 times earnings. Usually when a market go through 10% correction like this. It has to become somewhat of an undervalued market to be bought aggressively. This movement today was because the Fed the Bank of Japan though.
But keep in mind we you know we still we just got the data out yesterday from China, which is what you call them nonmanufacturing in the manufacturing PMI's which is the purchasing managers index on how executives see their company as they are both growing Arthur laying off staff and those numbers are reflective of a massive recession coming nonmanufacturing PMI anything personal about the 50 we talked about this before means that the the corporations are growing below 50 is there reducing it are shrinking so PMI number four nonmanufacturing out of China was 54.1 notes 29.6 it collapsed in the month. The new orders plunged to 26.5 and unemployment plunged from 48.6 down to 37.9 confidence plunged from 56.59.6, 240, so that's that's the nonmanufacturing size affect manufacturing sites in the past four months has been in contraction with the connection of January with plat at fifth and now it's 35.7, so the numbers are saying we are shrinking the global output of China is deftly been affected by the coronavirus and their still tied into the largest economy in the world you see the Titans and many other countries and they're headed towards the recession. Now when you drop a rock that dig in the ocean have a lot of reverberation a lot of swords again to get touched by that including ours and Gen. David talking to David Fisher landmark capital for money Monday, the Fed lets the Fed get back is noble to seasonable show great to be with you if you want to join us here at the studio. Just go to Facebook go to Facebook if your search box.
If you never been to the show page before it's just the Steve Noble show the Steve Noble show Ndebele. You can find is there an Facebook. Of course on the radio station that you're listening to including our new I newest affiliate 88.1 FM WY TR and special thank you to my buddy Pastor Neal Jackson on that one. So were thrilled to have you and for broadcasting. Also North Carolina so God is continuing to expand our footprint were praying for and working towards covering this entire state right now are pretty much always from the northern border in Virginia down to South Carolina right through the middle of the state of North Carolina run in Asheville. We need to work on the East Coast out towards the the ocean out towards the beach but we got a plan and got the power. So we'll see what happens.
It's continuing to speak his truth, and all kinds of nooks and crannies of life, biblical worldview should affect everything including our finances. The Bible talks a lot about money often remind you of that. Jesus talked a lot about it. 16 of the 38 parables were concerned with how to handle money and possessions in the Gospels, 1/10 versus deal directly with the subject of money and it's all over the Scriptures and because it's front and center in the Scriptures were to talk about it to the correct extent here on the show, which is why we are always happy to have our buddy David Fisher from landmark capital with us landmark. Gold.com is their website and I David again, thanks for being with us today in helping us navigate these very choppy waters so the Fed I guess there's rumors or is this confirm that the feds in the lower rates on Wednesday. What's what's the Fed going to do. I know they can't help themselves. Rumor more than likely will drum out come out on Friday.
Stephen said that this statement the coronavirus poses evolving risk to economic activity. The Federal Reserve is closely monitoring develops and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy so that was Friday and on Friday the market was pricing in a 52% chance of rate cuts 50 basis points on the next Fed meeting, which is March 18. But now the Fed rates is saying the market is saying that there's a now I'm 99% chance lose this list this morning before we had the Dow and NASDAQ in this 500 do what it did.
There's now a 99% chance of a three quarters of a rate of 75 basis points down to 1% of the Fed funds rate and another 60% rate cut of 25 basis points in July, so there is possibility that Fed could operate before March 18. There's some rumors saying they might do this as early as Wednesday. Feds not said anything about that Japan did come out last night that the governor of Japan. Rocco Kuroda said that the Japanese central bank promises to take any and all actions which are necessary to promote stability in the financial markets. So when they that last night while we were sleeping there Monday morning. The market and the Dow went up 850 points in the future. Markets then it when he came back down below Loza the loss of sea level line down 250.800 points. Then back down to 350 points in the enclosed big volatile market show just the idea that those two central banks in Europe came in and also said that there can inject money in the system if needed to spring stability. So the three big central bank of all said within the last three days to take appropriate action. So, but nothing of an actual injections, except for the Bank of Japan injected Ą926 million into the market, which was like 10 times more than normal. They wouldn't check shows a big injection of capital side question that I want to talk about what happened gold on Friday because I was fascinating so where's the Fed going to start to run. It runs out of room. It's going to drop some more, but it's only once a Fed rate right now. 1.75 to 1.75 for there to run out of room. Then what of any going negative rates impression prompted last week that the Frederick to go down to zero in our negative rate.
He also said that they should.
We should refinance the debt which you can refinance the US that that be a default. But you know, the Fed started injecting $79 billion of capital in the market every month are oversubscribed in the repo market and there are also buying $100 billion in US treasuries for their injecting money already. That's the thing that we didn't want to call QT for right now they're talking about maybe acutely five dollars this insane is this night so this is really fascinating that that is my last week. Market correction going down down down down down down down 12.4% S&P down 11.5% NASDAQ down tenant have percent so it was interesting to see gold go down on Friday because I was listening to Glenn attending the Glenn Beck for little bit earlier today. The zygote holds up massively, because the market was down massively but will love love it did a pretty interesting we have to. We need to use them to sermon and some wisdom here, not just emotion. So help us understand was going on there. It went down on Friday. 3.76%. It was still up though. 4.3% year to date and Philip today even more. But yeah, there was a not a physical selloff of gold, but there is a future contract that was being redeemed and golden.
When I'm mean by that is only just read the quote in this memo, but altogether here's a quote by the names of George Carol. He's a managing director of RBC wealth is this some market participants are selling their gold position. Keep that in mind, that work positions because they needed to be in cash for now to meet margin calls elsewhere was put this together. I'll get too technical, but a lot of traders were doing what you call it option which is illegal bet on the market. They were betting on the indexes of the Dalles and NASDAQ and the S&P 500 that they would continue to blooming. A whole bunch. When the market took a big violent turn on Monday and continue to fall downward movement through Friday they needed what you call margin calls were put in some of the results the legal buildings use pick up the phone call somebody and say you perform on your account so that they call option to another is to keep your position of your bet of the market going up which going the opposite direction you put more money in your account.
Otherwise you lose your position so worthy, they need to get past this traders put all their money in the market typically and still working to get it from an asset that they were betting was going up also told the school been on a rampage going up and fill all their assets are their options were were going the wrong way. The indexes of the stock market gold was going the way they liked it so they were there in the profits and money actually took those positions sold them, took the cash and supported margin calls that were calling for this market in the Dow and NASDAQ and S&P are going against them closes. There was no physical selling really of gold going on. There was just fulfilling getting trying to draw some money from one account where they're making money that was gold. So when you're talking idem selling gold. I would imagine that that that level they're not talking about physical possession of gold are we in the gold funds whether they have not even a fund is not physical gold. It's illegal for your bidding. The which way the direction is going to option an option. Exactly. So they had an option on gold. It was off. They were making money and so they had to draw from that option to cover their options on margin calls that there were losing money in stocks in the last backup a little bit and do a little gold investing 101 because it's important that we really revisit that everyone saw the just get a couple minutes. The brake disc set up our mindset as we go into that, like, how should we just generally begin to approach gold as an investment mechanism is an investment tool and an overall investment portfolio. What what should our mindset be and then will dig in that little more deeply when they come back and talk. But if you just set it up so don't put all your money and people just don't put all your money of the stocks in the family money in cash or money apportion the seven-day could you do not know what treasury may befall you in gold is not a get rich quick outfit. It's a lien holders like a financial insurance policy really at times it can be used as an investment. If we have severe downturn over a long period of time in stocks, gold makes big up it just been plugging away really slowly though because were not enough violent market yet, would still get the calm so gold is not a get-rich-quick scheme. It's not for everybody. A person who's trying to do those things and you know I want to buy today and so six months from now or something like that. It's not for them and I told many people that this is a buy-and-hold 2 to 5 years, closer the flies into and realistically 5 to 10 years so this is something you know hold on to the safe haven. You know, obviously this traders that were had bold positions that save the day gold. I have many clients that years down the road and holding their goals. It was a safe haven for them gives them peace of mind. It's a diversification tool it increases the upside potential and lowers the quality all taller risks so it does that in this really not anything special is the purchase and asked the class that doesn't create an paperwork so I am also save you from a balance we have something like that yes sitting as we look at it as I become more mature in my understanding of investments in portfolio over time.
For a lot of people and Dave Ramsey like stop.
This is kind of a general thing that people say for most people, their houses, their biggest asset. Will that depends on whether you actually have any equity in it or not, but for a lot of OKC at some equity you get some get some investment you have some asset in your house and then other people in mutual funds 50 you know you got that 401(k) and then some people at cash on partially in cash right now because the market so crazy and then gold which is another tool so it's really kind of a plethora of different tools that you look at a note and an overall portfolio right is that this is generally correct, generally correct, and sometimes is overweight, and sometimes you waited for the pain on what the environment right so will keep talking about. That will pick that up when we come back to put on hold. David were talking to David Fisher from landmark capital, a landmark goal.com is the website for details about that about buying and selling how to use that particular asset class and express expandable to slow things finish Mac and Steve Noble to Steve Noble show, doing a full money.
Monday we do that, the first Monday of every month with a gun for David Fisher from landmark M.
R. Gold.com if you want to contact them the old-fashioned way you pick up a phone does not have accord but he can pick up a phone remember how to dial solids into a Siri call so-and-so statements he look at that series is activated on my phone sit here in the studio can do that.
Be quiet. I can say her name. I could scan okay going if you want to do the old-fashioned way 844-879-8882 is the phone number to talk to David and his team 844-879-8882 are email@example.com again David, thanks for being with us today.
Absolutely thanks :-( you're welcome.
And so, and in terms of, coming back to the use of gold in and buying and selling, and then will when we say gold because people go a investing goal but there's actually different types of gold you can invest in. So let's cover that real quick as I want people to understand. I think a lot of people think I like Fort Knox, piles of gold bars but gold is it is more options than just that we have a thing called three columns, a real set of information packet on that they can contact my company will going to with them before they invest so we were the three columns we told each with what they are with the product is what the benefits and drawbacks to each of the product and then with over market analysis of three distinctive bull markets on how well these products perform and then we always mention that this was a long-term hold. This is not a get-rich-quick in Liverpool back in gold or could be evolved, markets and and you'd want to know buy-and-hold for a long period of time to look at something we go in depth with everybody before they invest in. And there's obviously no pressure to invest, but there were big on education and strategies is very different types of markets just like the stocks of different types of markets. Gold has different types of markets to you and so can wrap that up it's it's a long-term thing. It's it's a buy-and-hold it's not gold spikes over the next six months all by some jail cell in six months and then I'll be good because that that not that market, even liquidating that market is different than what we we would think with a stock or you just him to go online to TD Ameritrade because it's a physical product.
It's got different characteristics right is my recommenders correct in their different ways. A liquidating auction on eBay go through all silicone draws are just various different ways know how I like what TD said on on Facebook there that talks about how the gold had pulled back in 2015 actually pull back in 2012 and it became overvalued so market when it becomes overvalued. That's what this is all about in the service with the with the market today to overvalued and it spills over a guy. That's what you probably pull back some more. This huge injection capital is different by bit you know the central banks but if you look at the Dell since 2000 2001.
It's gone up 640% gold, 524% so and that's with them a massive pull back in the Dow in 2008 and then the bull market in there in a massive pull back in gold in 2012 and were now starting the beginnings of bull market. So here you have a comparison that typically can consider say that you know here's what how you can benefit over a long period of time, but there's been some markets up and down swings and then take them to consideration. You think that you know because I missed a word picture guy and so I'm thinking a sealable weather and smooth water or rough water when you're in high winds and low winds in a sailboat, yet the sale on top but you like I have a key on the bottom in and see all he said that counterbalance and so the look in a portfolio the same way. What I have is the hedge on the opposite in this case it's like and that's primarily when we talk about gold as a hedge against what's going on the market so you got your sale of topics is all our other stuff and then you got gold underneath the sailboat's county or keel. It's a counterbalance of the government and that's why education is always so important, we always stress that you always stress that get educated, get information and then make a decision based on what your goals and what you're trying to do and be smart, be shrewd and in the general has a dove, absolutely. But wise as a serpent and and so that's it's unkempt. It's always important for us going to revisit that and make sure everybody understands but one things that that we talked about recently insert information and education is kinda YouTube and you got your start to do more YouTube videos to tell us about that because I can be really helpful video scope put up today with all last week during a photo but we had asked one of our video guy production is been sick, you don't know the coronavirus, but it's been really sick, so we've got more YouTube and is the four-part series of with the last two are up and there's one more part coming out.
I think you'll come to be shocked a little bit with part four, at the beginning so you give a teaser out there. Make sure you watch the beginning of part four. You can see me do something totally different that ever been before. Publicly on YouTube, so enough about that, but we believe in education. There's another one out there about corporate debt, and that's really the key. That's coming up as a corporate debt problem that's brewing and I could get triggered sooner rather than later and you will central banks and governments are trying to disguise all the financial risk through monetary expansion, either from the government or from the Fed were to see in the coming months that we could see the side effects of the injection of capital is really not, fix the corporate bond problem yeah and we put a link up.
By the way, it's on the Facebook page for the Facebook live today at the Steve Noble show page on Facebook.
We put links up to that or if you just go to YouTube and you type in landmark capital in the search box.
You'll find those meniscus I question then I want to finish up with your suggestions about what we should be considering and thinking about the day as as investors and people that are trying to be good stewards of the finances God has entrusted to us. But let's say that that Bernie Sanders wins this primary and its Bernie Sanders versus Donald Trump do you think the market is going to react to all that that kind of that's that's upside.
I can't think of the last and we had such a massive differentiation between two presidential candidates, but do you think the market will react, even prior to the election in November, it just depends on how close race is one much more than the other than the market will have a reaction either positive or negative, yes. But if it's really close. Then, I don't think the markets going to do anything of of any substantial notice unless we have, you know, something occurred or is it like coronavirus you or comes back in the fall, but after election going on who's in office market could be violent. One way or the other.
I mean, not just her second what I mean. I don't think this is any way this could actually happen, but we might a lot of people might've said that before Donald Trump became the 45th president had states of God for bid what it Bernie Sanders actually one. I would imagine that the market would completely take after that you get an a valid socialist now getting into the White House getting into that pilot's position and and I would think that the market would go ballistic on that it and not a good way yeah it would it would go down a lot because he's not pro-business like present Trump. He believes in socialism. He believes in all of the valence theory and get out to him if he gets elected.
My phone will probably ring off the hook so say oh my gosh I gotta get some goalie got a hedge against all this I had to get some money sidetracked reason organ valence girl totally back on the table and the $50 trillion just to spell Karen 25 of if you has no way of paying for his socialism at socialism, which destroys everybody except those at the top so just generally what what what what should we be doing today again is people that have not been given a spirit of fear.
What should we be doing today and reacting all the things going on from a financial perspective stewardship perspective obviously don't panic, but obviously nobody knows what next week or next month is going to be like this market and if it's still overvalued. It has a chance to go down. We don't have the fix corporate earnings. We don't have a what the numbers are to be first quarter there and we brutal so the market still has some more downside to go.
Probably so I would diversify get some gold in your portfolio.
If you don't have it for long-term get some cash if you don't have some cash, get some cash.
This is not Melissa and the hundred percent of my financial planner start program not putting them down. The winded they said these very same things in 2008, when the market went down 10%. There were still 45% more for it to go down. I'm not saying were getting in the environment is too early to predict, but diversify is so important right now. Let's agree where David Fisher is always thinking my brother for calling in helping us out today. Landmark goal.com or 844-879-8882 to get that education and that information again if you want to check out that the YouTube series that four-part series. It's on not be just go to YouTube and put in landmark capital but we also have the link up on the Facebook data. God bless you brother thank you for your help. God bless you Steve talk to sent by okay so what I think tomorrow and this is something I've done every two years since I've been on the radio and this is how I always say hey today and tomorrow and listen to me break a federal law now for most people. I like Steve and he cannot really do what you doing I did there and and vitally present intrinsic only presidential candidate and then president I've heard in my in my adult life and I'm 54 ever say something openly and against the Johnson amendment of Johnson, and it goes all the way back into the 1950s era, and that was when they pass this amendment in the U.S. Senate and came through and basically to muzzle the church so it's it's directed at 501(c)(3) organizations that's that's not-for-profit tax-exempt organizations. This radio ministry happens to be on in the IRS's eyes and legally where 501(c)(3) and they said the Johnson amendment was you can't undo get into a lectionary. Now why would a politician want to muzzle the church.
Let me think about all that's right because working to speak out and speak the truth about political issues visit all of the church and politics that should mix listen God's word and a biblical worldview impacts everything including in the states of America. You could say even especially politics and so that was the purpose of the Johnson I meant was to shut pastors up and shut church is a unfortunately too many pastors use that as a way to stay quiet when it comes to politics. I'm not one of them. The specter of that law, not the law itself.
So our friends in alliance defending freedom for years have been a poke in the eye, the IRS basically daring them to go after church and a pastor that dares to apply a difficult worldview to the candidates so I'll tell you tomorrow, North Carolina shared on Facebook are shared on the air tomorrow who are my candidates for my coding for in the primary based on a biblical worldview and you want to turn me in the IRS. Glad once that think it's the Supreme Court that law will fall. The specter of the law not the law itself. The law itself is not constitutional, it will fall. Whatever gets up there and I'd love to be the one that it was falling something. This is the build on the signal show, God willing. I talked again real soon and that my dad always said ever for