Election Uncertainty To Cause Market Correction By Summer? | Lance Roberts & Adam Taggart

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Nearly every asset class saw gains in Q1 -- stocks, the dollar, gold, Bitcoin and real estate.
Will the rally keep powering higher through the remainder of 2024?
Portfolio manager Lance Roberts thinks, while anything is possible, stocks are increasingly at risk of a pull-back, especially as the Presidential election approaches.
Markets hate uncertainty, and with a close election expected, not just for the Presidency but for the chambers of Congress as well, it's likely investors will start selling and moving towards the sidelines as summer approaches.
Lance and I discuss that, as well as concerning new jobs data, the looming retirement crisis, the worsening wealth divide, plus several other positive recent developments in this week's recap.
#marketcorrection #bullmarket #jobs2024
0:00 - Blowout Q1 Review
11:39 - Bonds
14:03 - Gold
17:35 - Election Pullback Risk
40:09 - 800,000 Payrolls Shortfall
44:23 - Growing Retirement Crisis
1:11:23 - Wall St Junk Product
1:23:03 - Backlash Against Social Media
1:31:38 - Backlash Against Squatters
1:33:33 - Conclusion
_____________________________________________
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[@adam.taggart]

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[@BobHaikou]

I think this is easily the most valuable finance channel on youtube. Lance Roberts is exceptionally credible. Thanks, Adam.

[@patrick3926]

This has become my fav show each week! Lance is great! Thank you! 🎉

[@jeffrummell2348]

Lance is the man. When I retire in three years, I will move my money. Thanks

[@byduhlusional]

Love the talk in the middle of the episode and I agree. When most people say they hate capitalism, what they truly mean is they hate corporatism, which is something almost all of us agree with.

[@pwatom22]

Thanks for breaking this up into chapters. The best channel on KZbin period.

[@whodidit99]

Citizen United will ensure that the Corps and entitles will continue to run the government. Worst Supreme Court decision ever. It's hopeless until it is overturned.

[@jerrysteffy7900]

This conversation was poignant, thoughtful, certainly worrying, and extremely valuable. It points to so many subject matters and topics in American society today where it’s difficult see where they could ultimately have the proverbial ‘ soft landings’ . The options appear limited. As Adam and Lance rightly note , it won’t be those amongst us with the most that will be scathed by the implosion of social security, pensions, rising household debt, or rising unemployment. We always want to remain hopeful but the distortions and largesse of the system appear as though they will come home to roost. Very interesting that Canada may serve as the canary in the coal mine. It is a good time for prudent forethought.

[@googtv1]

Thanks for tackling the difficult subjects. Great discussions.

[@hs-learn2581]

Adam and Lance, As a Canadian, I wouldn't be using the "RCMP" as a source of any financial information, public safety maybe but not finance. Anything that comes out in that area would be sensationalized. You also should be talking about Canadians and "free" anything, our taxes and governments do pay for many for our social programs. You can think of it this way, during and post WWII the United States created the military industrial base and has kept it employed, whereas Canada's was mostly shutdown and turned into plough shares. The budgets of Canadian govt (Fed & Provincial) reflect more support for social programs than going to war.

[@sivi9741]

I’m Canadian too . Yup good post ! Lance is dramatizing Canada situation through bad intel .

[@slavaukrayini4442]

These conversations between you two is the YT highlight of my week. Well done, again!

[@Rabbi393]

Excellent show today, thanks to both of you.

[@rudyleon3156]

Thanks Adam!

[@billadama]

"You females are not producing children at near the pace we need to maintain the economic growth capacity in the economy." Eve, you ate the apple and now this! I really like Lance, but sometimes I wish he would word things differently.

[@insomniactravels6185]

I followed Lance long before Adam came on the scene. My respect for Lance has gone up tenfold as a result of these thoughtful conversations between the two,--which speaks to Adam's contribution to enhancing the financial and social IQ for the mass. Keep up the good work, Adam,--you (and Lance both) are an asset for America way beyond just wealth management..

[@hazelkimswart9589]

Adam and Lance, Thank you so much for saying it like it is with no bull dust. It is not easy to find the truth.

[@ellaschris]

Favorite time of the week always adam thank you brothers for your inside all always!

[@SandyKryszan]

Lance is right on many, many things. He makes alot of sense and explains the reason he thinks that way. I follow him every day.

[@petergozinya6122]

Thank you Adam and Lance. Happy Easter.

[@jaylinn416]

Great quality channel on finance and investment. Thank you!

[@ritterac]

My son is in the AirForce and his ONLY 401k option is BlackRock funds..... such BS

[@colddeath9797]

best show

[@rneltdinfo6809]

Love your weekly pods with Vance

[@Fish_Ventura]

Thx guys

[@jmcmob608]

Thank you very much...

[@macattack3411]

thanks guys

[@martinithechobit]

Two man tag team champions.

[@agentorange20]

Underrated episode Adam and Lance. I agree with you both in so many areas. Hearing/reading the data on the retirement crisis is eye opening and alarming but knowing the MO of govt. to kick the can and placate we can look forward to some future fun. It certainly puts things into perspective depending on which income/wealth bracket you fall into if you are to be a realist in terms of retirement & estate planning for heirs and how fortunate some of us are.

[@remingtonrorabaugh9250]

appreciate the chapters aspect of the video. hopefully it isn't too much of a hassle to implement

[@adam.taggart]

Glad you like them. They're often a challenge to get done when there's a lot going on, which is usually the case. But when I can find the time to do them going forward, I will

[@bitcoinwallet-tj5ue]

Really love the chemistry between you two.. I'm glad I subscribed again. Really misted it. Keep doing what you guys do.

[@donjohnson4368]

Lance is great

[@spotsonadog]

Great show...very much agree with the ideas about young kids & social media.... and squatters-->>Yes I am willing to help kick them out if that keeps the wkend show w/Lance going!!

[@sagig72]

Hi Adam. Great video as always. I love your weekly interviews with Lance Roberts. If at all possible, I'll appreciate it MUCH if next week you can ask him about the real-estate sector and how he sees its correlation to bonds. In other words: He feels the bonds are set up for a bull upside, does he feel the same for real-estate and whether more or less than bonds. How he sees the relationship of the two. Thanks so much!

[@JH-py7bi]

Glad Lance has recovered his voice. Sounded like Adam was interviewing a new guest last week. 😂

[@dannad3622]

As a Canadian there is nothing free, we pay huge amounts of taxes for everything. On my last pay cheque I had some overtime on it, between deductions and taxes it worked out to about 42% payment to the government. Also the government instituted a carbon tax, which is going up for a 4th time on April 1st. where I live its $1.60 for a litre of gas which is $6.40 per gallon. The province I live in there is a 15% tax on everything, so for every $100 you spend you pay $15 in taxes. No offence to Lance but but at 47:10 when he says in Canada has free this and that good luck with that. If you a medical issue it could take 6 months to year before you see a specialist, if you have cancer by the time you see somebody its too late and you might as well get your affairs in order. Canada is probably worse off than the US right now.

[@PatBlot-lm6zx]

Thank you for taking the time to inform us about Canada. Unfortunately; with the way the political wind is blowing in the USA, I expect the Democrats will institute socialized medicine sometime during the 2030s.

[@adm58]

Yes, I'm in the UK. State healthcare is fine but it's not free, it's just funded differently.

[@sivi9741]

I’m Canadian too and u are exaggerating . Go heal in the U.S. and remortgage your house for it….. Carbon tax is non eventful , u get rebate till 2030 that covers all the cost or most of it if you are very huge user . The problem isn’t healthcare, education or carbon tax it’s Trudeau and his immigration plan .

[@sivi9741]

@@PatBlot-lm6zxactually the guy is totally wrong . I’m Canadian too …. To believe healthcare and education in Canada is bad and is the cause of economic problem today is laughable . Those “socialist healthcare and education “ we have dates back to 1960 and it still work fine and his accessible to anyone ! And Canada as one of the lowest debt to gdp in the g20 . Some people just see what’s in front of them but not the big picture . Be careful with those opinions u read .

[@greigsanderson]

Happy haircut

[@2LFlynn]

I agree with Adam we have a managed capitalist economy not a real free market.

[@optimumperformance6998]

Those stats on actual retirement account values is very scary.

[@albowler1722]

They need to eliminate share buybacks. And even more so, they need to eliminate the buy, borrow and die strategy.

[@k.dermer2168]

Yeh, they were illegal before 1990S (not sure exact date. Think it was Clinton cronies that allowed it.) Such xfer of wealth, making CEOs robber barons.

[@JC-cf4rs]

They need to eliminate lobbying and outside Money in politics… there’s no other way to explain the bribery than just calling it bribing of politicians. There’s no reason that a congressman making a $150k/year salary should end up being a multimillionaire in that same position.

[@kevintran5035]

1 trillions debts in 90 days. Not surprise market boom

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is still following this informative content cheers Frank 😊

[@0415michael]

Some adults don't have the ability to decide what is good and what is bad for themselves, or they chose to make the bad choices.

[@MrTigerStarX]

44:00 - The border crisis requires bipartisan agreement and long-term reforms.

[@yssopyot5487]

Good question 37:55

[@kkkiesha]

Love your new facial hair upgrades Adam. Very Studious. Also many rants were thoroughly covered even if you didn't realize it 😅

[@phillipharris6861]

Your outstanding and very honest 38:05

[@SunAtlantic-pg9vn]

Thanks Adam for doing TM. Also love Lance - smart guy. One thing on the 401K analysis - I think a lot of GenX/Boomers have a lot of equity built up in their house. That IS what they consider their retirement plan. Wonder what will happen when they all try to sell at the same time...

[@mattanderson6672]

Lol on the stripper names, he's right though Seriously though guys, I'm loving the education you're helping me overcome a bad start in life and I appreciate you both for it

[@kurthorn8713]

Adam: Great show as always. You might want to reach out to Meredith Whitney and see if she would be open to an interview. She called the housing bubble a year prior and nailed it with her book the State of the States.

[@brianwills4476]

Adam you are the best interviewer on the internet. Lance is a fantastic money manager. However---he really doesn't understand the significance of this gold rally.

[@ramrod2298]

Every Adam Taggart video for the last 3 years: "Everything is unexpectedly good right now, but look for that to change in the next week/month/quarter."

[@Yetified_Mayhem]

Says the majority as an excuse to not participate since the markets started. Nobody rings a bell when it's time to buy

[@toinengwyn3935]

@@Yetified_Mayhem The majority doesn’t have the money to participate.

[@jurgentebrake89]

Adam is first to admit he was wrong in the shortterm. What is the problem?

[@kennethkirklin6959]

I was in Home depot in Richland Washington yesterday twice...and it was as busy as a 3 legged cat in a sandbox..never seen the parking lot so full.

[@jonEmontana]

I was out and about in KC yesterday ….same thing. So many people shopping, eating ect….now I was in an area where there is a fair amount of wealth driving around. Not sure it’s going to slow unless fuel prices breakout to the upside even more.

[@marleneweber853]

My Home Depot in Michigan is crushing the numbers. At least 4% above plan for the last three months.

[@AstroTommy66]

I was at Heathrow Airport last week in London and it was the busiest I’ve ever seen, lines ups everywhere for eating in overpriced restaurants, airplane was packed to the brim, I don’t know where’s that recession everyone on KZbin is talking about… people seem to be loaded with money and living the dream life

[@erinsweet8147]

@@jonEmontanaI’m near KC and every time I go to Costco I can barely get through there are so many people!

[@jonEmontana]

@@erinsweet8147 yes I don’t have the guts or patience to park and go into Costco but I do use them for gas since QT used to be safe and now I’ve had shootings in 5 of the 7 i use regularly for work. I do need to go inside and stock up at least on paper products.

[@0415michael]

That was for Lance.

[@albertcua8571]

Any short gold ETF you recommend?

[@EMan-cu5zo]

Everything is a ripoff now. Insurance is ridiculously expensive. Every year it has been going up 15-25%. I quit eating fast food because I thought it was too expensive a few years ago. Every once in a while I will get something like that for my daughter.

[@HODIUSDUDE]

Why insurance stocks are among my favorites.

[@EMan-cu5zo]

@@HODIUSDUDE they have been doing good. I have been watching CB and UNM. What ones do you like?

[@HODIUSDUDE]

@@EMan-cu5zo CB, HIG & AJG are what I currently have.

[@georgedavid3815]

Tom Demark indicators are giving exhaustion signals on daily time frame. We should get a significant correction very soon.

[@beaverbridge]

You need to get someone on your show who was bullish this entire time, and have them explain to you why all your bearish guests were wrong.

[@marleneweber853]

Amen. I've been waiting for this kind of guest for the longest time.

[@AstroTommy66]

David Hunter, he has been calling for a market melt up since last year… I’ve been paying attention for about 3-4 years now and I think I have figured it out. Have you ever heard the saying “the market takes the path of most pain”? Basically the reason why the markets have been ripping up is precisely because everyone was so bearish. The markets just move in the opposite way that most traders are betting, when most traders are trying to short the top someone has to take the opposite side of that trade and it gets to a point where it costs less to push the price of assets up above trader’s stop losses and liquidation points, than what they take in profits from liquidating traders. It’s a mathematical certainty that this is how it works, because there is no magic money in the markets, it’s simply impossible that the majority wins, the only money you can make in the markets is other people’s money that they lose. The crash will not and cannot happen if the majority of people are betting that it will crash… otherwise everyone would win! The crash will only happen when the majority is bullish and people pile into long positions in droves, in the meantime the markets will keep going up until the majority can’t take it anymore and finally decide to get in, that’s when we’ll see a top.

[@dennismcguire2408]

You might consider this rush as a start of deflation,,, buying now thinking the prices will be rising money getting devalued so ….. invest that cash now !!

[@millsfinancialgroup]

We have seen enough from MR Roberts at this point. He has been wrong for a long time. Feels like we are being fed one point of view without a counter

[@adam.taggart]

I have had several, but Tuesday's interview will be with Ed Yardeni, who fits the mold you're specifying

[@nacetroy]

Great Ep. guys and I hope Adam had a great time in Hawaii with his fam. Lance is only partially correct in his criticism of Fink and ESG, what Lance said is true that they charged higher fund/etf fees, but the much larger and compromising aspect of ESG was to get corporations in line with (what is essentially) a political agenda supporting DEI, Diversity, Equity and Inclusion. It's not a secret that this is a socialist strategy, but it was a way to get corporations to willingly virtue signal in order to get ESG points as chosen by the big asset management firms (BR, VG, SS). Without ESG you do not have the major boycott of Bud Light, or Target selling trans and satanic inspired clothes for kids (no joke, look it up; Target eventually fired the artist and discontinued the clothes with actual satanic imagery and text) or the many movies and video games that have failed due to woke politics force fed to the consumer. If anyone doubts what I'm pointing out, please feel free to educate yourselves as it's been thoroughly documented. I'm not a Trump fan, nor a republican, but this is why you have such huge support of Trump by not only "fly-over states" but also more and more traditionally minded, family-values minorities all across the country. The far-Left policies do not work, except to destroy, which is by design.

[@ThoneJones]

The squatter thing is just infuriating. I’m glad it’s been in the news lately.

[@martinithechobit]

Yaaaaa boy.

[@andreavandekleut6379]

good show , things are getting hairy and scary , right?

[@TheKlaus3001]

It's not gold to New highs it is currency to New low's !

[@RudeBoy.44MAG]

Gold is my long term hold. The rest of the market is roulette.

[@affirmed_7835]

Don't overthink it. The money printing will continue on and on forever until the currency collapses, and when it does you're still better off owning assets.

[@unaldurmaz250]

Inflation in the market so don't miss it GOLD 🎉🎉

[@phillipharris6861]

I liked your coffee pot story did queaser send a comp new pot for promoting the quality product

[@brucehecht4984]

The 200 day moving average is going up almost daily. October lows are approaching 180 days ago. So the 200 day average will move from 4700 on the S&P to 5000 over the next 3 months.

[@cvrart]

Not so sure that Washington wants to help disenfranchised people, but I'm pretty sure they want to appear to be trying to help disenfranchised people.

[@andrewp5972]

The last 30-40 minutes of this video every week feels like I’m eavesdropping on two guys’ coffee klutch.

[@michaelbananas461]

Analysing the likelihood of a recession is now essentially "how far will fiscal and monetary policy go to debase the currency to keep the market going"

[@richardlarock2809]

Taggart got a trim, nice

[@HS-PGA]

I feel government public sector employment has grown contributing to the low unemployment rates ? Is this historically high ?

[@cometmall1]

No sure about other states, but in California...you either need a lot for retirement or to have nothing and gov. will support you. No point to save for average...

[@jonEmontana]

The bottom up and middle out right?! Worrisome times

[@sivi9741]

Squatters in your house , police arrives , the owner should just ask the police to demands proofs of payments from the squatters to him for them to have the right to be in the houses?

[@rafaelmelitonrodriguezmigl7509]

To hedge risk is to limit your gains

[@LibertarianRF]

Nice job Adam managing optimism verus pulling back the curtain on the lying wizard of Oz.

[@connorferguson2269]

Honestly I'm still going to hold gold, if the dollar falls into jeopardy, people will rush in at a panic

[@cvrart]

If ANY year would be a good candidate for having an "October surprise", this year would be it.

[@madabuu]

The "Share of Income - Bottom 80% vs. Top 20% " does not make any sense. Adding 27% and 25% equals 52%. So 52% goes to 100% of the people? Where does the other 48% go ???

[@joycekoch5746]

Thoughts on Funeral Homes as a long term investment?

[@guidoyanovich01]

2018-2021 wife's parents passed, my parent passed...divested assets to gold, silver, crypto and stocks last. Now we're playing with the earnings...Still trying to cash our t-bills... That has become harder. Need to go through treasury direct. Banks? no longer handle those. $40k and counting...Interest still a plus though!

[@cairns-holiday-homes]

Adam asks what it would take for the market to continue up. Lance says "more liquidity, obviously and we have that. The monetary base is increasing..." (29m44s >). That is not true. M2 has fallen substantially since the increases topped in April 2020. Admittedly, that after the berserk Feb-Apr period and May 2020. From Aug 2020 to May 2021 M2 rose as well. From there it was all down to March 2023. It has kicked up a bit since March 2023 but fell in Feb 2024. Professor Hanke said the same thing in Adam's interview with him last week. I suspect JPowell wants to be sure that the inflation beast is dead before dropping rates because he will not want to run the risk of raising again just before the November election.

[@johnnydavis5896]

Either way your going to get more spending! This is a battle of statists.

[@manflynil9751]

So I'm listening to this conversation. And what I deduce is that there is so much money looking for investment, that it just buys stocks on companies regardless of their performance. My question is ; How do investors make money on overbought stocks of overbought, over valued companies? It all sounds like one big Ponzi scheme to me.

[@johnhughes8712]

Well if your able to accept the risk you short stocks. I don't as I won't accept the risk.

[@stoney5827]

Simple you put a judge on 24 hours a day. There’s a judge that the only thing he does is squatters rights issues and he can have that thing adjudicated in 24 hours and 24 hours later you can have the police come and throw them out I thought you deal with that

[@jimhumphrey9618]

It’s not corporatism. I worked 30 years for an oil company and was familiar with our lobbying efforts…. I would concede the corporate tax cuts, but otherwise I’m not sure we ever got any political wins that financially benefited the company. Has Amazon gotten tons of favorable laws passed that have improved their exploitation of customers? Nope… they are successful because customers love them. The bifurcation in incomes comes from differences in the market value of the labor and capital provided by top earners. Not sure how you fix that….

[@lfw3733]

Nice MOP CHOP Adam. You look 10 years younger!

[@p.r.167]

government should not control social media. I dont understand how you can elide that

[@fabricaetempori]

Telltale signof civilisational and societal collapse is when you have to rely on court systems and the law to settle matters that should be relegated to ethics morality and common sense.

[@comment2250]

The fact of the matter is that most Americans, if they are living from paycheck to paycheck is mostly because they're not willing to live within or beneath their means.

[@matl7560]

Sorry Adam.. I held my breath for years and said “it’s time to finally breathe in another state” 😅😅

[@jandejong2430]

Looking from Europe in the 70s and 80s I was amazed seeing all the debt pushed on people in the US, all for toys in the two car garage etc. Being in debt seems totally normalized now.

[@dazedhavoc]

Stocks only go up.

[@affirmed_7835]

Took me awhile to realize this. Even when it goes down, they just print more money and back up we go.

[@pedantic70]

Legislated profits are not the free market. They represent an oligarchy or plutocracy, when the legislation is created by bribing, blackmailing, propagandizing, etc, directed not just toward the politicians, but also academics, think tanks, journalists, and general citizenry who are inundated with distorted info from every source.

[@duncancurry4]

Only allowing certain high skill level people immigrate isn’t Capitalism. Capitalism is the free flow of labor and goods. If Lance had his way, my dirt poor ancestors wouldn’t have been allowed to immigrate. The principle isn’t what’s best for the economy, but what is best for individual rights and individual freedom, which are the precursors to capitalism, wealth, and prosperity.

[@jimscherer8072]

Your dirt poor ancestors probably had a marketable skill. Your comparing apples to oranges. This country has laws for a reason. We cannot let the world in because everyone deserves it. Your statement will lead to Socialism not increased capitalism.

[@funkspinna]

Capitalism dictates where the skillful people are needed, decided by the free market.

[@adm58]

Yes, ideally we'd have global free movement. Not only of people either, but also goods and capital.

[@xesentertainment]

01:10:58 same with Blackrock btc etf they want those fees !

[@MrWashraf]

Q2 will be blow out too. On fiscal side 7T dollars are coming into the economy.

[@rubyslippers9140]

China also limits the amount of time kids can spend on video games.

[@nacetroy]

Regarding squatter epidemic - this also is by design. NGOs are helping the pipeline of illegal immigrants into the country (to learn more check various podcasts on "The Darien Gap"), similar but much more covert NGOs or organizations are helping to make squatting a thing (in GA, it's black gangs who are involved in the squatting business, in CA often the targeted homes are those of absentee landlords who just rent the home, someone is making sure the squatters go to the right places). The why is two pronged, the socialist/communist types who are working to destabilize and destroy countries (USA as well as the immigrant flooded areas of the EU) want to create a rift or edge toward making property a thing of the past ("You will own nothing and be happy" commands the WEF), so they're effectively terrorizing property owners with this problem while elevating a cultural argument (dialectic) on whether or not people should own more than one home or, say, not use a home they own. At the same time they're trying to replace the once reliable votes of minorities with immigrants. In the coming months/years, immigrants will be elevated like certain minority identities were in the past. So, the once "oppressed" US citizen of a minority identity will be replaced with the new "oppressed immigrant" or "refugee" identity in America. Look for "Immigrant/refugee lives matter" signs in a blue city soon. Don't mistake my intent or perspectiev; I'm mixed-race with grandparents who were immigrants, what's going on now is entirely different than incremental and legal immigration of the past.