Episode 36 - The Epic Collapse of GE, How the Stock Market MeltUp Ends, & Student Loan ChaosPorter tells you about what really happened at General Electric (GE) under the reign of Jack Welch and his successors. It's the story of an unholy partnership between big government and big media. A tragedy of paper money, financial speculation and excessive greed. Porter explains what GE has been doing since the mid-90s, and it has nothing to do with lightbulbs, locomotives, or power plants. GE has been involved in a gigantic financial gamble for decades...right under the nose of shareholders. The SEC is now investigating the company's accounting, and Porter explains how GE could easily become the next Enron or Lehman.Buck and Porter welcome Steve Sjuggerud, editor of True Wealth and Porter's long-time partner at Stansberry Research. Steve reveals how much longer the stock market MeltUp can continue, which warning sign to look for from the government that has consistently preceded the last three market corrections, and a recommendation for Buck on the easiest way to invest in the China boom.Subscribe to stay up to date with the latest videos ?-? https://www.sbry.co/suBiHBe sure to click here to never miss an episode ?+"GOOGLE PLAY MUSIC ?-? https://www.sbry.co/lkwhpITUNES ?-? https://www.sbry.co/7OQ79SOUNDCLOUD ?-? https://www.sbry.co/jHn5hSTITCHER ?-? https://www.sbry.co/tEkL5------------Follow us on Twitter ?-? https://www.sbry.co/p11ihJoin our Facebook Community ?-? https://www.sbry.co/fMckKCheck out our website ?-? http://www.sbry.co/wUAyeCheck out Stansberry NewsWire ?-?https://www.sbry.co/IhNeWCheck out Health and Wealth Bulletin?-? https://www.sbry.co/iHRmDCheck out Extreme Value ?-? https://www.sbry.co/EvIiH------------4:34 Porter shares the story of he knew in 2002 that General Electric had evolved from an industrial company into an incredibly leveraged and heavily indebted financial institution. What were they doing with all the money they were borrowing? 10:08 Porter tells you about how GE needed a massive bailout from taxpayers and Warren Buffet to keep all the balls in the air after the 2008 financial crisis. Who will save them now? Dodd-Frank?12:49 Five years ago, investors could have seen the fate of the oldest company in the Dow written on the wall, culminating in a 50%+ haircut today. This might have been Porter's most prescient prediction ever - except for one thing. 17:10 With the SEC now investigating GE's accounting practices, Porter explains how the actions and financial maneuvering of former CEO Jeffrey Immelt could have robbed the company and its shareholders blind for years. 19:33 Buck reveals the real reason Jeff Bezos purchased the Washington Post [hint: it's not because he wants to save journalism] and makes a confession about a fateful investment he made recently. "This is embarrassing." 23:29 The student loan crisis is only getting worse. The Brookings Institution says the default rate on student loans will be 40% by 2024, but the taxpayer could be on the hook for a lot more once America's Debt Jubilee takes hold.31:09 Steve Sjuggerud joins the episode to reminisce with Porter on the earliest days of Stansberry Research, where they roomed together in an efficiency apartment and launched what has become one of the largest financial publishers in the world with hundreds of thousands of subscribers in over 120 countries.38:40 Steve recounts the only time he's ever been so bullish on an investment opportunity that he took a second mortgage on his house to finance it. Either the world was going to end, or it was going to be the best investment of their lifetime. Porter tells of how they both realized they'd gone "all in" at the same time. "Oh my god! We're both complete maniacs!" 43:30 In 2015, Steve gave a presentation at the Stansberry Alliance Meeting titled, "Welcome to the Melt Up." Mainstream news outlets like CNBC and the Wall Street Journal are now using Steve's exact language to characterize the current run in stock markets. Steve tells you why he still sees upside potential, and Porter reveals the one sign he's looking for to tell him that the asset bubble is finally ready to pop.47:05 Steve shares the closest thing to a dead giveaway of when this fabled "Melt Up" will end. 49:02 Porter breaks down an easy way to understand interest rate curves.51:17 The Melt Up is clearly here, but what's next? Steve tells you about research he's reading that tell us a return to the mean is not too far off. In the long run, value matters. 56:03 Porter asks Steve what's next for his career, and you'll be glad to hear this response.1:03:40 Steve revels the most important thing that people can do with their money in the last phases of the Melt Up.1:08:53 Buck asks Steve to give listeners his best China ETF recommendation.