Before I get started…to catch up on any or all of the ‘Panic With Friends’ episodes head right here.

Onwards…

I hate Black Swans, but here we are.

How rare is the air? Michael has good chart showing 1929 rare:

The TREASURY Bonds have had their biggest back to back to back moves in back and forth direction this week:

I have no idea how this all plays out. I do know how to ‘Panic With Friends’.

Today I give you TWO episodes. The first is a video I made with Koyfin founder Rob to help explain the deleveraging taking place as the panic unfolds. We look across markets and discuss examples of investor deleveraging, financial deleveraging and operational deleveraging. It will really help explain how in a panic, everything is connected and cash is truly king.

The podcast is with my pal and Stocktwits head of content and community Phil Pearlman. I call him my markets ‘shrink’. I could laugh and talk markets and life with Phil all day and that is what we did in this conversation about panicking and life. Phil is a behavioral psychologist which means for $300 he will sit with you and help blame everything on your mom. Problems solved.

Here is a link to the podcast. You can also listen to them on Spotify or Apple Podcast by searcing my name.