There will be no recession before the end of the decade, and the S&P 500 will reach 10,000 by the end of 2029, because the economy has repeatedly absorbed shocks (pandemic, inflation, Fed tightening, banking mini-crisis, tariffs) and kept setting records.

15:59be sold and then the entrepreneurs gets uh get benefited from that. >> Does the roaring does the roaring 2020s run through the end of the decade? >> Uh well, we're in the seventh year of it. You know, everybody thinks it's six, but you know, put it count it on your fingers and we're actually in the seventh year. So of 2020. >> Yeah. Let's get through this and then I

16:19think by the end of 2029, which will be the end of the decade, I think we will not have a recession. I have the S&P 500 at 10,000 by by the end of the decade. >> No recession before the end of the decade, you say? >> No recession before the end of the decade. And and all I'm doing is uh taking pointing out that look how resilient the economy has been so far.

16:41We hit it with a pandemic lockdowns. Uh then we had a buying boom that ran smack dab into supply disruptions. Inflation surged. The Fed went from zero to 5.5%. That's why everybody thought there was going to be a recession. So, how could you not have a recession with the Fed tightening like that? And then we had a mini many basically a weekend financial crisis in 2023 and then Trump comes

17:07along with tariffs and then there's the war and there's tariffs again and here real GDP is an all-time record high. >> We've thrown a lot at this stock market. >> Yeah. Yeah. I mean, it's it's it's been extraordinary. And the last serious the last recession we had was in 2008 2009. it it wasn't that uh two-month uh lock lockdown recession and uh bare you know recessions don't happen that much and

17:29they seem to be happening less uh and u bare markets don't as a result bare markets don't happen that much you're you're right 2022 uh was one of the rare bare markets that had that did not have a recession >> I think if not for uh the AI explosion it's possible that 22 led to something worse Not my that was my opinion. As a matter of fact, I don't remember if it was late

17:56October, early November. I said I actually thought the bottom was made in June and we kind of retested it, made it a little came down below it. And I said I I think it was early November. I said I think that's the low. And the reason is because I, you know, I look at uh forward earnings and forward earnings, which is analyst expectations for earnings, dipped a little bit in uh