We're Going To Pay A Heavy Price For Creating A Generation Of Speculative Drunkards | Lance Roberts

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**SPEAKER_2** (0:30)
Star Wars, The Mandalorian and Grogu is now streaming on Disney Plus.

**SPEAKER_1** (0:35)
What are you waiting for?

**SPEAKER_2** (0:37)
Hop on. The must-see galactic adventure comes home on Disney Plus.

**SPEAKER_1** (0:42)
This is the way.

**Lance Roberts** (0:43)
Our only chance is to work together.

**SPEAKER_2** (0:47)
I'm like this kid. Always wear your seatbelt.
Star Wars, The Mandalorian and Grogu, now streaming on Disney Plus. Rated PG-13.

**Lance Roberts** (1:00)
So we've really introduced a lot of gambling into the markets. And we're going to pay for that in the future. We are addicting an entire generation to gambling. And we're going to pay a very heavy price for that in the future, both financially and economically.
When we come to that realization that we've created basically an entire generation of drunkards.

**Adam Taggart** (1:30)
Welcome to Thoughtful Money. I'm Thoughtful Money founder and your host, Adam Taggart, welcoming you here at the end of the week for another weekly market recap featuring my good friend, the Mercurial Portfolio Manager, Lance Roberts. Lance, how are you doing?

**Lance Roberts** (1:43)
I'm good. How are you today, Adam?

**Adam Taggart** (1:45)
I'm good. I'm good. I picked Mercurial because it means the temperature is getting risen, things are getting a little bit more agitated, a little bit more unpredictable. There's a lot going on in the world and in the markets right now. So obviously, there's a lot for us to talk about. I don't want to be remiss though. Today, the day we're recording this is 9-11.
Hard to believe that it has been 25 years since that fateful day. Obviously, giving our heartfelt thoughts and prayers to everyone who lost their lives and all the families affected. It's amazing the repercussions that we're still dealing with a quarter century later around this, Lance.
I guess thankfully, we haven't had as large of a tragedy here in the US since and hopefully, we never do in our lifetimes. But it's very important both to remember all of this, as they say, to never forget, but also to remain vigilant to make sure that we're doing everything we can to try to diminish the odds of something that terrible happening again.

**Lance Roberts** (2:52)
Not great. Do you remember where you were on 9-11?

**Adam Taggart** (2:55)
I do.

**Lance Roberts** (2:56)
One of those interesting things, and if I ask you, where were you three years ago on this day? You probably couldn't tell me, but there's these things that occur in history where that day, I can still remember it as vivid today as I did 25 years ago when it happened, where I was standing, who I was talking to, what I was watching, what happened afterwards. It's just that indelible mark on the brain that never goes away. It's the same thing with the financial crisis, I can tell you exactly where I was the day that Lehman failed, right?

**Adam Taggart** (3:29)
Yeah. For older people, when Kennedy got shot, that type of stuff. Yeah, it's amazing. To your point about, you said three years ago, I couldn't even tell you where I was three days ago.

**Lance Roberts** (3:41)
I mean, I remember exactly where I was when Lincoln was shot at the theater. So when you're buying these things, just all kind of run together.

**Adam Taggart** (3:50)
But other than that, Mr. Roberts, how did you enjoy the play?

**Lance Roberts** (3:52)
The play was awesome.

**Adam Taggart** (3:55)
But yes, very seriously, we just want to mark this occasion. I'm going to talk a little bit about this in the rant as well. So let's earmark that and dive into all the things that are going on today. So we're trying to avoid a start, but maybe let's start with the CPI report, because that's what's getting the headlines today.
It pretty much came in generally where expectations were, but I think the market...

**Lance Roberts** (4:26)
It wasn't generally, it was right on the screws.

**Adam Taggart** (4:28)
Right on the screws, yeah. But what's interesting is, odds for a rate hike next week with the Fed and Warsh are very high. I want to say they're like up to 90% now. I think it was the last I heard.