Speaker 1: Do you want to be an American flunny back on
Speaker 1: seven hundred WLW nine and ten Americans mind and ten
Speaker 1: of us are concerned about memory loss and the decline
Speaker 1: in brain function as we age.
Speaker 2: The older we get, we see things at previous generations
Speaker 2: that didn't live as long, they never had to deal
Speaker 2: with these things we do. And in the two hundred
Speaker 2: years five hundred years from God only knows what malady's
Speaker 2: we're gonna face. But there's a concern over age related
Speaker 2: memory loss because as we get older, certainly are our
Speaker 2: minds change, and then there's disease. So what is normal
Speaker 2: and what is not? What is normal brain agent? What
Speaker 2: is some sort of neurodegenerative disease? And that's what we
Speaker 2: worry about. This is what keeps us up at night.
Speaker 2: Doctor Mada fi Messetti is the vice chair of the
Speaker 2: McKnight Brain Research Foundation studies these things.
Speaker 3: Doctor.
Speaker 4: Good morning, Good morning, Scott, it's great to be on
Speaker 4: the show.
Speaker 3: Thank you so much.
Speaker 2: I think, first of all, the idea our brains are
Speaker 2: just limitless pots of things that take in a limitless sponges.
Speaker 2: I guess we get just absorb all as information all
Speaker 2: the time coming at us. And we got all this junk.
Speaker 2: Like I think, like, for example, you know some sort
Speaker 2: of temporary password that's that that that's in our head
Speaker 2: short term, or try to remember a phone number when
Speaker 2: it's all on our phone to begin with, and you
Speaker 2: can go, I can't remember that. It's because we're not
Speaker 2: really designed to carry that much information, right, I mean,
Speaker 2: that's my understanding the human mind is it's kind of
Speaker 2: like a temporary thing on the stuff we use the most,
Speaker 2: that gets pushed to the forefront, but generally we get
Speaker 2: all this information that's disposable.
Speaker 4: I think, I think you're partly right. I think it's
Speaker 4: important to understand here that the brain, like any other
Speaker 4: part of the body, is also aging. You know, from
Speaker 4: the time that we are born and what you've described
Speaker 4: some of the typical symptoms of an aging brain, And
Speaker 4: just like any other part of the body, we age differently,
Speaker 4: we age in distinct ways, but we all understand that
Speaker 4: as we grow older there are certain changes in our
Speaker 4: mental abilities in.
Speaker 5: Certain cognitive.
Speaker 4: Certain skills, and certain abilities improve as we grow older,
Speaker 4: such as wisdom and vocabulary and judgment. Certain other faculties decline.
Speaker 4: Some of the examples that you've mentioned are exactly that.
Speaker 4: We find it more difficult to learn and remember new information,
Speaker 4: We find it more difficult to pay attention to multiple tasks.
Speaker 4: At the same time, there might be more problems in
Speaker 4: the speed at which we make decisions. So the important
Speaker 4: thing to understand here is that these changes are to
Speaker 4: be expected as a part of what we call normal
Speaker 4: cognitive aging. They are not to be feared. They're not
Speaker 4: in and of themselves signs of a disease. And so
Speaker 4: what the MECH Brain Research Foundation is focused on is
Speaker 4: to try and help people understand what changes to expect
Speaker 4: as they grow older, as well as to provide them
Speaker 4: with all the resources they need to try and put
Speaker 4: in place lifestyle changes, put in place behaviors that can
Speaker 4: ensure that they protect their brains in health as they
Speaker 4: grow older.
Speaker 2: Yeah, and unfortunately, as we go older, we see diseases
Speaker 2: that we never saw before, or maybe they did, and
Speaker 2: they just it's more widespread.
Speaker 3: It's not like an epidemic.
Speaker 2: It's just when you live till you're eighty ninety plus,
Speaker 2: you're going to see things, especially age related that appear physically.
Speaker 2: But also between those years of yours, you know, I
Speaker 2: think of our good friend or dear friend Jim Scott
Speaker 2: who has als, and I think of people who are
Speaker 2: older and dementia and all of these horrible illnesses that
Speaker 2: they have that we were let and see a couple generations.
Speaker 3: Go as much.
Speaker 6: That's true.
Speaker 4: Neurodegenerative diseases are a completely different topic altogether, because those
Speaker 4: are diseases. Those are conditions that arise predominantly from a degenerative,
Speaker 4: usually progressive condition of the brain. Alis is one of
Speaker 4: the classic examples of a neurodegenerative disease. But I think
Speaker 4: what is important here to understand is that those neurodigenitive
Speaker 4: diseases have captured a lot of our attention. They get
Speaker 4: most of the research funding. This is what patients are
Speaker 4: concerned about when they visit their physicians. But what has
Speaker 4: remained a little less, what has received a little less attention,
Speaker 4: is what changes to expect your normal aging. You know,
Speaker 4: that is something that all of us would experience, unlike
Speaker 4: you know, the minority of us who may experience a
Speaker 4: neurodegenerative disease. So I think we haven't focused enough attention
Speaker 4: yet on a full understanding of what normal cognitive aging is.
Speaker 4: And so I think this is a great opportunity through
Speaker 4: the Magnet Brain re Search Foundation to bring that awareness
Speaker 4: to large numbers of people.
Speaker 2: Makes sense, And I'm going to get into some of
Speaker 2: these points you're making right now, Doctor, I'm out of
Speaker 2: Tambasetti is if I share the McKnight Brain Research Foundation.
Speaker 2: I'm talking about the difference between normal brain aging and
Speaker 2: what is a neurodegenerat disease. Because you know, if you forget,
Speaker 2: I don't know what exit you're getting off. Go crap,
Speaker 2: I was supposed to get off there. It doesn't mean
Speaker 2: that you have Alzheimer's. It just you may be getting
Speaker 2: older and your brain is so packed with other information
Speaker 2: something has to go. This shoe box is only so
Speaker 2: full that that is your brain. I could also talk
Speaker 2: about politics here too, where we have people who have
Speaker 2: are making big, big decisions to the highest levels of
Speaker 2: our government who are so older, incompetent. I'll just leave
Speaker 2: that as an open ended question.
Speaker 4: So I think you know, the larger point that is
Speaker 4: to be made here in this context is that it's
Speaker 4: both I think a little unprofessional as well as you know,
Speaker 4: unethical to try and make diagnoses on people that the
Speaker 4: position hasn't personally seen interviewed or examined. But I think
Speaker 4: what this gives us a great opportunity to talk about
Speaker 4: is what changes to expect as people grow older in
Speaker 4: terms of their abilities. Whether it's candidate is running for presidents,
Speaker 4: whether it's a radio radio host, whether it is a
Speaker 4: position like myself, We're all going to experience changes as
Speaker 4: we grow older. So I think this is a fantastic
Speaker 4: opportunity for us while this topic is in the public domain,
Speaker 4: while people are talking about these candidates, where people are
Speaker 4: talking about what it means to lose some abilities as
Speaker 4: you grow older, I think it's a great opportunity for
Speaker 4: us to step back and try and see how much
Speaker 4: we know about normal age related memory changes and what
Speaker 4: we can do to day to try and preserve brain
Speaker 4: health as we all age.
Speaker 2: Yes, And I think that's an important facet here too.
Speaker 2: You're really saying that, you know, when you're in your eighties,
Speaker 2: in your here, maybe in your thirties, forties or fifties,
Speaker 2: you look at it, Wow, is that what I have
Speaker 2: to look forward to?
Speaker 3: Or is that an outlier?
Speaker 2: With both of those gentlemen, you know, and I think
Speaker 2: like when as much speaking as they do, also sometimes
Speaker 2: you can only remember the first letter of something. You
Speaker 2: can flight you confuse names. You know, I'm trying to
Speaker 2: think of Frank and I keep saying Fred or whatever
Speaker 2: it might be.
Speaker 3: Is that pretty.
Speaker 2: Common as you get older and you you just have
Speaker 2: that whole and you know, the whole tip of the
Speaker 2: tongue phenomenon for example, where you you know the information
Speaker 2: is there, you just can't pull it out.
Speaker 4: That's a great point. I think what you've described is
Speaker 4: what we would call, you know, benign age related cognitive changes.
Speaker 4: Occasionally forgetting a name, struggling to find the right word
Speaker 4: at times, maybe even occasionally forgetting a bill payment. I
Speaker 4: think all of these changes would come under the term
Speaker 4: of normal age related memory decline. It's when these changes
Speaker 4: become much more severe, they become much more frequent, and
Speaker 4: they clearly started affecting an individual's independence and individual's ability
Speaker 4: to carry out the normal activities of daily living. That's
Speaker 4: when these changes might signal something a little bit more
Speaker 4: concerning and something that might require more detailed medical evaluation
Speaker 4: to make a diagnosis. But those more severe changes are
Speaker 4: not what we're focused on today. We're trying to understand
Speaker 4: the relatively benign changes that may also be a concern
Speaker 4: to people and to try and empower them with all
Speaker 4: the inflammation they need to try and put in place
Speaker 4: behaviors today that might enable them to grow older with
Speaker 4: preserved cognitive function.
Speaker 3: Yeah, okay, so what are the dos and don'ts of this?
Speaker 2: Obviously, diet, exercise, sleep has got to be a big
Speaker 2: factor here.
Speaker 3: That's going to be important.
Speaker 2: A memory, which is why if you take a little nap,
Speaker 2: you know, you feel a lot better. That brain fog
Speaker 2: kind of goes away for a little bit.
Speaker 4: I think you've raised you know, very very good points.
Speaker 4: The biggest factors today that we can put our finger
Speaker 4: on in terms of preserving brain health is understanding that
Speaker 4: a healthy heart goes together with a healthy brain. And
Speaker 4: so one of the most important factors that we know
Speaker 4: preserves brain health or may slow down memory loss as
Speaker 4: we grow older is to try and make sure that
Speaker 4: your blood pressure.
Speaker 5: Is under good control.
Speaker 4: Get screened for blood pressure, Understand what your blood presure
Speaker 4: numbers mean, make sure that your position is able to
Speaker 4: speak to you, assess your blood pressure, and if your
Speaker 4: blood pressure needs to be brought down the medication or
Speaker 4: by behaviors such as eating a healthier diet, exercising more regularly.
Speaker 4: That's something that you can proactively do today to try
Speaker 4: and preserve brain health as we grow older. And then
Speaker 4: many of the other behaviors that you mentioned are exactly
Speaker 4: what you know now I get a chance to talk
Speaker 4: about as a position with my own patients. Regular exercise,
Speaker 4: being physically active, saying socially engaged, eating a heart healthy diet.
Speaker 4: All of these we know preserve brain health. Limiting alcohol
Speaker 4: intake as well. If you're a smoker, it's never too
Speaker 4: late to stop smoking and preserve brain health through preserved
Speaker 4: heart health. So these are all examples of behaviors that
Speaker 4: we can put in place today to try and ensure
Speaker 4: that we preserve brain functions to the maximum capacity as
Speaker 4: we grow older.
Speaker 2: Doctor, how does stress interfere with all this stuff? I
Speaker 2: guess in my mind, there's a lot of complex effects
Speaker 2: that it has. Right, if you have a lot of stress,
Speaker 2: it's interesting how your brain works. It has have a
Speaker 2: long term effect on your memory in this kind of
Speaker 2: cognitive decline we're talking about.
Speaker 4: So there's experimental evidence that chronic stress, the stress over
Speaker 4: a prolonged period of time, can in use changes in
Speaker 4: the brain that may not be protected that they might
Speaker 4: in and of themselves, cause changes in your memory function,
Speaker 4: changes in your ability to do certain cognitive tasks. We
Speaker 4: don't fully understand exactly how this might work, but we
Speaker 4: think there's some evidence that certain neurotransmitters can get released
Speaker 4: in the brain as a result of chronic stress, and
Speaker 4: that this imbalance in certain neurotransmitter levels in the brain
Speaker 4: can trigger these long term harmful effects in the brain.
Speaker 4: It's also important in this context to understand the effect
Speaker 4: that factors like loneliness play. And we've just come off
Speaker 4: of a long pandemic that has taken a toll on
Speaker 4: our ability to socialize, to stay engaged with friends and family,
Speaker 4: and we are beginning to recognize that these changes, including
Speaker 4: loneliness and stress, might have a disproportionate impact on older individuals.
Speaker 4: So that's another factor to bear in mind when we
Speaker 4: try and factor in stress, loneliness, depression, and low mood
Speaker 4: as risk factors for poor cognitive in poor cognitive performance
Speaker 4: as we grow older.
Speaker 3: Yeah, and that makes sense too.
Speaker 2: And I think that stress certainly is toxic to your body,
Speaker 2: but especially your brain. But I think also the society
Speaker 2: and the times in which we live We're interrupted at
Speaker 2: all times, and that's just a reality of modern life.
Speaker 2: I mean, your phones are going off, people are talking
Speaker 2: to you, kids crying, somebody's having a conversation with you.
Speaker 2: You start daydreaming, is interrupting yourself basically, and then when
Speaker 2: we forget stuff, we think, oh my god, I'm in
Speaker 2: cognitive decline, I have some sort of neurodegenerative disease, when
Speaker 2: in fact, it's just modern society messing with our brains.
Speaker 4: That's a good point, and I think that's all the
Speaker 4: more reason why, you know, we need to make time
Speaker 4: for ourselves, have opportunities for rest and relaxation, to try
Speaker 4: and get an adequate night's sleep. I think all of
Speaker 4: these factors play into controlling stress and doing as much
Speaker 4: as you can to make a positive impact on your
Speaker 4: brain health as you age.
Speaker 2: Yeah, and yeah, talking about what is normal and abnormal
Speaker 2: when it comes to aging and your brain, because we
Speaker 2: all think we have some sort of incurable disease and
Speaker 2: it's our biggest fear, and so you're kind of looking
Speaker 2: for it. You think it's out there lurking, when in
Speaker 2: fact it's it's not as common as you would think.
Speaker 2: And also we're living longer too, when I hear all
Speaker 2: these things and go, all right, well, what's what's right?
Speaker 3: What's normal? What about brain fog? Does that mean I
Speaker 3: have you? Mentally?
Speaker 2: I got I have brain fog today. I've got some
Speaker 2: brain fog going right now, largely because I eat ham
Speaker 2: yesterday and it's full of salt, and my body hates
Speaker 2: me right now, and uh, I hate food. I normally
Speaker 2: don't eat, so I'm miserable. And well, that's what's causing
Speaker 2: the brain fog. So if you have chronic brain fog,
Speaker 2: you have it a lot. What can be done about that?
Speaker 2: Or is it just you just accept it?
Speaker 4: So I think the term brain fog means different things
Speaker 4: to different people, And so in general, what I would
Speaker 4: recommend is that if you're concerned about your memory, if
Speaker 4: you think you've had significant changes in your memory, if
Speaker 4: there are skills that you could previously do without effort
Speaker 4: before that you now need extra help. If you're making
Speaker 4: mistakes with tasks that you could routinely accomplish without help before,
Speaker 4: those are all indicators that you might want to speak
Speaker 4: to your healthcare provider and get a complete evaluation. There
Speaker 4: are certain factors that can be easily treated or reversible.
Speaker 4: I've had patients who've had first sleep at night, who've
Speaker 4: had a diagnosis of dementia or mild cognitive impairment, and
Speaker 4: once there's three problems to fix, their memory improves substantially.
Speaker 4: So there are certain reversible factors that might be responsible
Speaker 4: for these memory changes. And again it highlights the need
Speaker 4: for you to be proactive in terms of seeking attention,
Speaker 4: in talking to a healthcare provider, in trying to empower
Speaker 4: yourself with all the resources in terms of information that
Speaker 4: you need to try and understand some of these changes.
Speaker 4: Be concerned when concern is warranted, but otherwise try and
Speaker 4: put in place healthy behaviors that can ensure brain health.
Speaker 2: Finally, doctor, you know, we seel like with EKGs and
Speaker 2: echocardiograms and we get a baseline for your health at
Speaker 2: a younger age. We're getting a baseline. We need a baseline.
Speaker 2: Why don't we do that when it comes to your
Speaker 2: mental acumen?
Speaker 4: Well, I think we should. I think that's the fantastic points.
Speaker 4: I don't think there is ever a good time, there
Speaker 4: is ever a right time. I think every opportunity that
Speaker 4: we get to try and get information, to try and
Speaker 4: speak to a healthcare providers about what changes we expect
Speaker 4: in memory as we grow older. I think all of
Speaker 4: those opportunities are precious opportunities. And I think what you've
Speaker 4: just highlighted is the importance of being proactive, the importance
Speaker 4: of being attentive to these changes in memory as we
Speaker 4: grow older, and to pay attention to behaviors that we
Speaker 4: can implement the day to try and preserve rain health
Speaker 4: as we age.
Speaker 2: Yeah, and also if your spouse or loved one of
Speaker 2: some is to pay attention to their health and if
Speaker 2: something seems off and they're more irritable or something's going on,
Speaker 2: that's that's a red flag for sure. Doctor Amadav the
Speaker 2: Massetti is the vice chair of the McKnight Brain Research
Speaker 2: Foundation nine and ten of is concerned about aging, memory
Speaker 2: loss versus decline and function and what's normal and what's not.
Speaker 2: And hopefully maybe got some useful information there before you
Speaker 2: freak out. Doc, all the best, thanks for joining the show, appreciate.
Speaker 4: It many thanks God News.
Speaker 2: The picture is we wind it down for another year
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Speaker 2: I know I can count on Willie to turn things
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Speaker 3: American that I am. He uses lots of big words.
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Speaker 2: can spend ready for this one over fourteen thousand dollars
Speaker 2: for every man, woman in child in our fair country
Speaker 2: here on what on healthcare?
Speaker 3: Annually?
Speaker 2: We spend the most in the free world, but don't
Speaker 2: have nearly the best outcomes. Lots of concern when it
Speaker 2: comes to our healthcare. There is a different route here, though.
Speaker 2: What if you just paid for everything yourself? I've often said,
Speaker 2: you know, if you cut out the middleman here and
Speaker 2: got rid of bureaucracy and that would be insurance and
Speaker 2: or government bureaucracy. Your costs had drop down dramatically, and
Speaker 2: I think practitioners would be the doctors and nurses. Nurse
Speaker 2: practitioners like would have a better quality of life and
Speaker 2: everyone's happy. It's called it's the already, it's called direct
Speaker 2: primary care. I just kind of googled it and we've
Speaker 2: got about a dozen providers here in the tri States,
Speaker 2: and that number has grown over the last few years.
Speaker 2: He's the CEO of Healthcare to You, which pushes direct
Speaker 2: primary care, and his name is Andy Bonner. Andy, welcome
Speaker 2: to the show.
Speaker 3: How are you well?
Speaker 7: Thank you, I appreciate it.
Speaker 3: Yeah, yeah, I'm.
Speaker 2: Kind of familiar with this a little bit here too,
Speaker 2: So explain if I didn't do a decent job of
Speaker 2: that already. How does direct primary care work? Is its
Speaker 2: simply just paying you directly as a physician. You treat me,
Speaker 2: And it's kind of like the old days where I
Speaker 2: remember when when I was a little little my mom
Speaker 2: would take me to the you know, doctor who practiced
Speaker 2: out of his living room, basically, and I think she
Speaker 2: would pay cash. I think anyway, I'm not sure how
Speaker 2: it worked. I was a little kid but I remember
Speaker 2: that I don't know the quality of care, but I'm
Speaker 2: alive today, so he must have done something right.
Speaker 5: Well that that's exactly right. So it's really going back
Speaker 5: in time and trying to establish a relationship with the
Speaker 5: primary care for this and that oversees your health over
Speaker 5: you know, the entirety of your life, if you can
Speaker 5: possibly get that. But you know, the issue it with
Speaker 5: the care that we receive today. It's really reactive type care.
Speaker 5: It's really not looking at your whole being and being
Speaker 5: able to monitor your blood results and so forth over
Speaker 5: a period of time and seeing those little changes as
Speaker 5: you age. And and really what direct primary care is
Speaker 5: establishing that relationship with a doctor who can oversee your
Speaker 5: health for a long period of time and see those
Speaker 5: differences and be able to work with you before those
Speaker 5: conditions turned to a bad state.
Speaker 2: Okay, Yeah, And it sounds rather simple, and I think
Speaker 2: as we get into this, I think it's going to
Speaker 2: illustrate just how obsurd our system is and how much
Speaker 2: money is being wasted in going to middlemen and people
Speaker 2: who have absolute no concern over our care and the
Speaker 2: quality of our care that just get in the way
Speaker 2: and suck those dollars away from our desperately needed healthcare system.
Speaker 2: And so it's been around for a while. Here, it's
Speaker 2: starting to gain traction, as I mentioned, and I said
Speaker 2: here in the tri State. In Cincinnati anyway, I've noticed
Speaker 2: there's been a slight uptick of the number. About a
Speaker 2: dozen or so now granted in the city this size,
Speaker 2: it's not many, but at least the needle is moving
Speaker 2: in the right direction. Let's look at them, the provider
Speaker 2: And why would a physician want to do this in.
Speaker 5: The first place, Well, I mean for a provider today
Speaker 5: in the theef for service world, a couple of things
Speaker 5: have occurred, well, actually several things have occurred over the years.
Speaker 5: One is the administrative burden that a doctor has in
Speaker 5: order to be able to be paid in the fee
Speaker 5: for service insurance world. Not only do they have to
Speaker 5: provide E and M codes, but they have to provide
Speaker 5: they have to know how to distinguish between sixty four
Speaker 5: thousand ICD votes to be able to provide a claim,
Speaker 5: submit a claim to an insurance carrier who then will
Speaker 5: reimverse them or find ways not to reimverse them over time.
Speaker 5: And so what's happened in the primary care setting is
Speaker 5: a lot of physicians either carry a large amount of
Speaker 5: bad debt because the coding is not correctly, the insurance
Speaker 5: hasn't paid on time. They get paid ninety to one
Speaker 5: hundred and twenty days out. So they're being impacted from
Speaker 5: a castload perspective, and they're having to hire a lot
Speaker 5: more administrative staff in order to keep up with all
Speaker 5: the coding and requirements by the state or the government
Speaker 5: as it relates to Medicare, Medicaid, those types of patients.
Speaker 5: So you know, a doctor has gone away from what
Speaker 5: they learned uh in med school UH and they become
Speaker 5: a very burdensome administrative staff that generally carries about five
Speaker 5: to one support staff to a position if you're in
Speaker 5: if you're in direct primary here, it acquires one support staff.
Speaker 6: If that.
Speaker 5: There are no plans submitted for the services that you provide.
Speaker 5: It's a direct contract with a physician who gets paid
Speaker 5: every month religiously on the same day, and the doctors
Speaker 5: paid to oversee your health. So there's no restrictions on time,
Speaker 5: there's no restrictions on what they can do.
Speaker 7: There's not an.
Speaker 5: Insurance carrier saying, oh, for that diagnosis, you should have
Speaker 5: only spent six minutes with a patient versus you know,
Speaker 5: the doctor wanted to spend twenty minutes, want to ask
Speaker 5: about them some family issues or some you know what happened.
Speaker 7: Uh, you know what's.
Speaker 5: Going on with your family and your relatives and so forth.
Speaker 5: So you can understand really a total picture of a
Speaker 5: part versus just a minute or six minute quick visit
Speaker 5: to deal with an acute issue or sickness and out
Speaker 5: the door.
Speaker 2: You go, Yeah, it's interesting, you know you walk into
Speaker 2: I'll go to my primary care physician like twice a year,
Speaker 2: and I go in there and there's seven or eight
Speaker 2: people in the glass box and there's just countless numbers
Speaker 2: of files and there's coding going all this stuff. Like, wow,
Speaker 2: it takes a lot to run a physician's off. It's
Speaker 2: not really all how much of that Steff's compliance almost
Speaker 2: all of it, right, it's government, it's insurance, it's someone
Speaker 2: who can code things in a medical Coding is a
Speaker 2: career in of itself, and it just goes to show
Speaker 2: you how burdens in the system is.
Speaker 7: Yeah, if you look at I mean just a change.
Speaker 5: From ICD nine to ICD ten, which was a requirement
Speaker 5: which is a requirement of doctors now to understand the
Speaker 5: coding systems. That's a change from about knowing twelve thousand
Speaker 5: or so codes to knowing over sixty four thousand toads.
Speaker 3: So you're correct.
Speaker 5: You have to have the higher specialist that understands and
Speaker 5: if you don't get the bill right, then the insurance
Speaker 5: companies will rejected and you have to resubmit and play
Speaker 5: that game back and forth.
Speaker 7: And you know, really what happens in that game.
Speaker 5: Is the insurance companies keep your money. You pay a
Speaker 5: premium every month for an insurance product, and the insurance
Speaker 5: company keeps that money until they absolutely have to give
Speaker 5: it up to the position. And unfortunately those positions are
Speaker 5: the ones who are left out.
Speaker 2: Yeah, Andy Bonner is the CEO of healthcare. To you,
Speaker 2: we're talking about DPC direct primary Care. Basically you pay
Speaker 2: the position directly. What's the fees like? Typically what are
Speaker 2: we talking here?
Speaker 5: It just depends. I mean, so just to give you
Speaker 5: a little information about us, you know, we're we've got
Speaker 5: about fifteen clinics. I know you mentioned it in the
Speaker 5: Cincinnati area, So we're we've got what we do is
Speaker 5: we partner.
Speaker 6: With existing physicians.
Speaker 7: Who have a fee for service practice.
Speaker 5: Who want to dabble them dabble their toe into the
Speaker 5: direct primary care world, or do not want to get
Speaker 5: rid of their fee.
Speaker 7: For service pass, so they carve out.
Speaker 5: A piece of their panel to work with us, and
Speaker 5: our fees generally run less than fifty dollars a month
Speaker 5: for a relationship, and that includes everything that happens in
Speaker 5: the four walls of the physician's office, So think.
Speaker 3: Of it that way.
Speaker 5: You know, everything from skin irritations to upper respiratory to
Speaker 5: you know, you know, digestional issues. Anything that happens in
Speaker 5: primary care also in our is in our membership. And
Speaker 5: that would include an annual physical, a woman's well, women's
Speaker 5: a lab, the labs associated with that, and then we
Speaker 5: treat thirteen different front diseases, including diabetes and hypertension and
Speaker 5: those same clinics at that low fee rate.
Speaker 6: So it's a.
Speaker 5: Pretty encompassing program. It also includes twenty four to seven telemedicine.
Speaker 5: If you get sick on the weekends or late at
Speaker 5: night or whatever, you can pull in and to get
Speaker 5: a prescription called in. So it really is twenty four
Speaker 5: to seven access and unlimited access. So whatever you need,
Speaker 5: whether it be an acute condition of scirit skin irritation,
Speaker 5: or you need your angle physicals and so forth, that's
Speaker 5: all included in a membership fee.
Speaker 6: Wow.
Speaker 2: Interesting, Andy Bonder, CEO of Healthcare to you, it's direct
Speaker 2: Primary care DPC. What we're talking about getting rid of
Speaker 2: the middleman, which should be government and insurance companies just
Speaker 2: paying your position directly. And so for around one hundred
Speaker 2: or whatever it is a month a subscription rate, basically
Speaker 2: you get unlimited healthcare. How does this work with you
Speaker 2: kind of touched on but prescriptions.
Speaker 5: Well, you have you have different programs that you can
Speaker 5: wrap a membership around, so you can add like labs.
Speaker 5: We have programs where you can add unlimited labs.
Speaker 6: You can add.
Speaker 5: A prescription program around it as well, and then.
Speaker 7: You have you know, discount mri ct X.
Speaker 5: Rays, discount labs so forth that you can include with
Speaker 5: this program and it kind of makes a nice bundle.
Speaker 6: You know.
Speaker 5: We are most of the time, we're not sold as
Speaker 5: a standalone product, and a lot of your DPC programs
Speaker 5: are not. What they're what they do with DPC is
Speaker 5: they wrap them into an insurance product to make those
Speaker 5: insurance products work better.
Speaker 6: So we become the.
Speaker 5: Base layer of the insurance and then you put whether
Speaker 5: it be a you have a lot of health shares
Speaker 5: out there in the world today that you can combine
Speaker 5: this with that.
Speaker 6: You can combine this.
Speaker 5: With a high deductable health plan so that you can
Speaker 5: lower your premiums. I'm saying this is the entry level
Speaker 5: and controls everything in a non claimed environment. So you know,
Speaker 5: for a simple visit fee or none, you can go
Speaker 5: see the doctor as much as you need to and
Speaker 5: be able to spend as much time as you need
Speaker 5: to with that position.
Speaker 3: Okay, now that makes that makes sense.
Speaker 2: So you're saying, if I need God's a big you know,
Speaker 2: there's cancer treatments or something that's extremely outside the scope
Speaker 2: of what my primary care position does, I would get
Speaker 2: high deductible insurance to kind of cover that.
Speaker 5: Yeah, that's what we recommend.
Speaker 7: The mean insurance is really there.
Speaker 5: For catastrophic reasons and if you put together the right plan.
Speaker 5: The right plan is really US or another DPC program
Speaker 5: as the front door where everything funnels through.
Speaker 7: And in our case, what we have is a complete call.
Speaker 5: Center with an MA on the front a medical assistant
Speaker 5: on the front end, which is that same person that
Speaker 5: first enters the exam room when you walk into a
Speaker 5: doctor's office and they do the diagnosis for you, so
Speaker 5: the doctor can spend that six minutes time. We put
Speaker 5: them in a call center environment and our members never
Speaker 5: have to schedule a doctor's applointment. They never have to
Speaker 5: dial a doctor's office. We schedule all their care for them.
Speaker 5: It's very high touch, white glove. We get them into
Speaker 5: the doctor's office and it doesn't matter where they go
Speaker 5: in our system. We are a fifty state uh DPC program,
Speaker 5: so we have members in the offices in all fifty states.
Speaker 5: So if you're traveling for work, if you're in another state,
Speaker 5: it's the same pier that's provided to you wherever you
Speaker 5: are in our system.
Speaker 2: How would that work with a specialist though not necessarily
Speaker 2: you know, surgical or AUF because I would have the
Speaker 2: extra insurance for that, But if I need to see
Speaker 2: a specialist on something, how does that work well?
Speaker 5: To give you an idea, So when you called uh
Speaker 5: and you have an app or you have a one
Speaker 5: eight hundred number and you're filling ill, you call into
Speaker 5: the doctor, you call into healthcare to you.
Speaker 7: The m a answer.
Speaker 5: The first thing they do is they triage you, uh,
Speaker 5: based on you know, what's ailing you today, and if
Speaker 5: it's something that we can care for in our world,
Speaker 5: then we schedule that care for you. If we need
Speaker 5: a specialist outside of that, then we can refer you
Speaker 5: into specialists, whether it be on the plan that you have.
Speaker 5: Because every member when they join us, we we ask
Speaker 5: a series of questions so we know if they have
Speaker 5: underlying insurance, if there's other attached insurance to it, and
Speaker 5: we do our firm in network into whatever network they
Speaker 5: may have or whatever.
Speaker 7: Insurance they may have. UH, so that you have.
Speaker 5: That condity of care going between a DPC and a
Speaker 5: specialist organization.
Speaker 2: Okay, good, that makes that makes a lot of sense.
Speaker 2: How does Medicare and Medicaid work. Is that in direct
Speaker 2: competition with this, because that that obviously that's not compatible
Speaker 2: what we're talking about. If you're on Medicare Medicaid, there's
Speaker 2: you know, that's that's taken care of and there's no
Speaker 2: outer well there's a little out of pocket, I guess
Speaker 2: I should say. And then there's part B and C
Speaker 2: and D and all that stuff as well. Is that
Speaker 2: indirect adds that we're talking about here?
Speaker 5: No, I mean you can't. There are programs we don't.
Speaker 5: We don't deal in that world, and just because of
Speaker 5: the paperwork, we try to stay out of the administrative
Speaker 5: burdened area. But there are procms is looking at a
Speaker 5: program for DPC to be involved in that Medicaid program
Speaker 5: and Medicare. You're required to utilize those services first. So
Speaker 5: if you're on Medicare, you generally either you augment out
Speaker 5: kind of like you do with a B plan, with
Speaker 5: that primary care in the senior arena.
Speaker 7: So there are programs out there who deal with both.
Speaker 2: Okay, good again, Andy Bonner, CEO of Healthcare, to you,
Speaker 2: it's direct primary care. Basically pay a doctor a flat
Speaker 2: feet a month for unlimited healthcare and it keeps your
Speaker 2: costs extremely what's the typical savings for someone if you
Speaker 2: add it all up, I mentioned the head of this
Speaker 2: we spend individual for every man, woman, and child in
Speaker 2: America about fourteen thousand dollars per person. If you think
Speaker 2: about the younger folks, they use healthcare a lot less.
Speaker 2: That means older folks are using way more than fourteen
Speaker 2: thousand per person. But out of that, what would you
Speaker 2: expect to spend in a year you know, we have.
Speaker 5: There's been a lot of analysis done with different independent
Speaker 5: third parties that have looked at direct primary care and
Speaker 5: the impact of not only from the employer side of
Speaker 5: it being able to provide this for the employees as
Speaker 5: an alternative, but also on the individual side and depending
Speaker 5: on the price point.
Speaker 7: In our case, we can generally show.
Speaker 5: A first year ROI of anywhere between thirteen to twenty
Speaker 5: five percent net of fees, so savings both of the
Speaker 5: employer and the employee for signing up to direct primary care.
Speaker 2: All right, is there a centralized website or number one
Speaker 2: can go and find out if there's a care provider
Speaker 2: near me?
Speaker 5: Certainly, well, Healthcare to you, it's www dot help, the
Speaker 5: letter C, the number two, the letter U dot com.
Speaker 2: Yeah, there's look a dozen, maybe fifteen or so when
Speaker 2: the Cincinnati area that number is growing. Is certainly something
Speaker 2: worth looking at. Andy Bonner, CEO of Healthcare to you,
Speaker 2: thanks again for the time, good info.
Speaker 7: Well, thank you sir, appreciate the invite.
Speaker 3: You bet Merry Christmas.
Speaker 2: If you're hearing this, you go, well, wait a minute,
Speaker 2: the Affordable Care Act or getting cuts or get fat,
Speaker 2: don't know, fifty bucks or an individual hundred for a
Speaker 2: family for unlimited healthcare from a primary care physician seems affordable.
Speaker 2: Doesn't know why is it affordable? Well, because you cut
Speaker 2: out all the bs and you just paid the doctor directly.
Speaker 2: There's your affordable healthcare. Scott's Loan Show seven hundred w weld.
Speaker 3: My uncontrollable movements called TD tart of dyskenesia felt embarrassing.
Speaker 3: I felt like disconnecting.
Speaker 2: This holiday slash Christmas New Year's season, whatever it does,
Speaker 2: you celebrate or don't celebrate, getting time off man, treat yourself.
Speaker 2: Sloana here seven hundred wlw uh, thank you. And also
Speaker 2: I hate you to Brian Combs's sister in law because
Speaker 2: she makes the fiercest Christmas cookies. And I'm talking about
Speaker 2: not just like a little tray of cookies. I'm talking
Speaker 2: about a manhole cover, a Seg Dennison sized plate of
Speaker 2: frosted goodness, absolutely incredible. Same time I just had four
Speaker 2: or five, and now these sugar portion is the sugar
Speaker 2: is spiking and I'm going.
Speaker 3: To get the direction.
Speaker 2: I never just stood those A one C commercials until
Speaker 2: this holiday season. I'm sure I'm over the limit, or
Speaker 2: I'm not sure where the wouldn't see.
Speaker 3: But I don't know.
Speaker 2: If you're over under it's better. But damn, those are
Speaker 2: some good Christmas cookies. Best time of the year, best
Speaker 2: time of the year. What else is going on? I
Speaker 2: heard a call over our police scanner that there was
Speaker 2: a fire in a house. I thought it was a
Speaker 2: Christmas tree. It turns out it was not. It was
Speaker 2: just someone had left something plugged into the kitchen. I
Speaker 2: guess if you ever liked those scanners, it's funny because
Speaker 2: you're just sting to listen and calls will come through
Speaker 2: and you could find it's like a mini It's like
Speaker 2: a bunch of mini soap operas going on. It really
Speaker 2: is fascinating. But I laughed because I thought that Christmas
Speaker 2: tree fire. Is just talking about this, and it turns
Speaker 2: out it was like a toaster oven as opposed to
Speaker 2: a Christmas tree that was causing the problem. Not the
Speaker 2: Christmas tree itself, but Christmas tree fires. To me, that
Speaker 2: is the razor blading candy of the Christmas season that
Speaker 2: you're supposed to check the kid's candy at Halloween for
Speaker 2: needles and razor blades. And we just at a store
Speaker 2: where someone had found or put a razor blood I think,
Speaker 2: in a loaf of bread in a grocery store. And
Speaker 2: someone had sent me that story, and I said, well, okay,
Speaker 2: I'm sure there are people that would do that, but
Speaker 2: that's more like the tailan all murders, right, than it
Speaker 2: is Christmas than it is Halloween candy. I remember when
Speaker 2: mine were little, we never did it because I thought
Speaker 2: it was stupid. Then is you can take the kid's
Speaker 2: candy to a hospital and they would X ray it
Speaker 2: for make sure there's the and they did it for
Speaker 2: years and years and years. I'm almost damn sure no
Speaker 2: one ever found anything bad in the candy. And my
Speaker 2: whole idea betime, you know there may be a razor.
Speaker 2: Brother got to check your candy for needles and razor
Speaker 2: blades is because mom and dad want their their taste,
Speaker 2: they want their peace, they want their cut, they want
Speaker 2: to wet their beak. To quote the Godfather, it wasn't
Speaker 2: about checking for oh that's maybe poison.
Speaker 3: It's fine and dad.
Speaker 2: Isn't it funny how all the reasones and snackers were
Speaker 2: somehow tainted. Yeah, I gotta confiscate this, I gotta have
Speaker 2: this destroyed. And you just go in the room and
Speaker 2: go in the closet and just eat yourself stupid on
Speaker 2: the kids treats. Why is it that every Snicker's bar dead,
Speaker 2: there's a needle or a raise. Well, it just looks
Speaker 2: like it's tank. I'm gonna I'm gonna set this. I'll
Speaker 2: throw this out, dispose. It's got to be put in
Speaker 2: an incinerator. It's a whole thing. It's it's compliance. It's osha.
Speaker 2: You kids don't understand. And now it's Christmas tree fires,
Speaker 2: and like all right, I could see maybe back you know,
Speaker 2: one hundred and fifty years ago, when they would literally
Speaker 2: put the tree up on Christmas Eve, which it seems
Speaker 2: like a lot of work. Even back then too. You
Speaker 2: look at the old movies, there's tinsel and the whole production.
Speaker 2: To do anything back in the day, it took a
Speaker 2: lot of effort. Today, I go to the basement, pull
Speaker 2: the tree out, thirty thirty second, snap two pieces together,
Speaker 2: plug in, and here we go. It's pretty lit, read
Speaker 2: and rock and roll. It's fire retardants. Got the led lights.
Speaker 2: They just I think there's that many Christmas tree fires.
Speaker 2: On hundred fifty years ago, they would literally light these
Speaker 2: live trees with candles. I mean, put a candle on
Speaker 2: the branch and now it's led lights. I mean they
Speaker 2: really throw no heat out. They're very low voltage. Where's
Speaker 2: the fire starting exactly? I will say, however, and I'll
Speaker 2: put the alert out there. Now it's going to be
Speaker 2: what seventy degrees today? It's going to be Christmas in
Speaker 2: Miami here in Cincinnati shortly.
Speaker 3: Space heaters.
Speaker 2: You know a lot of people, older people for some
Speaker 2: reason get freaked out about so they'll unplug everything, coffee
Speaker 2: makers and stuff like that. One of the things you
Speaker 2: should unplug is a space heater because they can be dangerous.
Speaker 2: But yeah, okay, space heater fires are one thing. But
Speaker 2: Christmas tree fires, I'm not so sure about that. Not
Speaker 2: so sure about something else I'm not sure about. I'm
Speaker 2: sure by now you've heard about what they're doing in
Speaker 2: Australia relative to social media. Is a ban there for
Speaker 2: children under sixteen, and that's now in effect. If you're
Speaker 2: sixteen hundred, you cannot get on social media. I don't
Speaker 2: know how they regulate that. I don't know how, I
Speaker 2: don't know how effective. I yeah, we're banning social media
Speaker 2: for kids. Well, how's that going to work?
Speaker 3: Out.
Speaker 2: Well, you know, you can't get on Instagram and you
Speaker 2: can't get on Snapchat and you get great. But there's
Speaker 2: probably thousands of other platforms out there that old adults
Speaker 2: don't know about that kids do. And that's how this
Speaker 2: stuff works. I mean, Facebook is a thing for teenagers
Speaker 2: for a long time before retirees discovered and then share
Speaker 2: their pictures of you know, their life, and then by
Speaker 2: then the kids are like, okay, well mom and dad
Speaker 2: and Graham and Grandpa have taken it over. I'm gonna
Speaker 2: go to another platform where they don't hang out. That's
Speaker 2: how it is. I just I don't think it's gonna work,
Speaker 2: and only that, and I know that certainly there is
Speaker 2: if you spend a lot of time on social there
Speaker 2: are some damagings effect to your psyche. There is, But
Speaker 2: I think a lot of this stuff is really overblown.
Speaker 2: I think anytime that we get some new technology out there,
Speaker 2: and I consider social in the inner to be relatively new. Anyway,
Speaker 2: the idea is that this screen time is harming us.
Speaker 2: If you spend all day it's like anything. You know
Speaker 2: when we bann marijuana, Well, there's people out there that's
Speaker 2: all they do all day. Well, yeah, if you do
Speaker 2: that all day, if you eat or drink anything all day,
Speaker 2: it's going to be bad for you. I would contend that,
Speaker 2: you know, if you're especially studious and you read books
Speaker 2: all day and never move, that's as bad. That's bad
Speaker 2: for you too. You know, everything in moderation. I just
Speaker 2: think that the effects of this can be in public
Speaker 2: discourse and headlines be a little bit overstated. If you
Speaker 2: look at, for example, the United States, the biggest challenge
Speaker 2: to education, to learning and scores was COVID in from
Speaker 2: twenty twelve to twenty twenty two. In that ten year period,
Speaker 2: in the advent of social media, there was only a
Speaker 2: minimal decline in test scores. And despite cell phone use
Speaker 2: and like is the rate of anxiety depression IM pretty
Speaker 2: much leveled off? And yeah, you know you have mental
Speaker 2: health issues for sure. But the countries, it's interesting, countries
Speaker 2: like Scandinavia for example example, where social media is big
Speaker 2: but it's not US big. They have more mental health
Speaker 2: issues there than we do here. And so I look
Speaker 2: at this whole thing and go, Okay, well, you know,
Speaker 2: it is a steady diet of social media bad for you,
Speaker 2: bad for your development. It's like you sure it is,
Speaker 2: but you know we're talking about banning it. That's an
Speaker 2: entirely different thing because kids are just going to go
Speaker 2: run and then it becomes underground. And anytime you prohibit something,
Speaker 2: every time prohibition, you're gonna have a black market, and
Speaker 2: certainly that's going to happen here. I'd like to see
Speaker 2: more data on this. Yeah, less screen time is good.
Speaker 2: I mean, you know, our couple hours a day, not
Speaker 2: all day on it, But I don't think you know,
Speaker 2: if you spend an hour or two on social media
Speaker 2: really is the end of the world. But again, anything
Speaker 2: new we have a fear of. That's how it is.
Speaker 2: Get a news update and we're turning the show. Anthony
Speaker 2: Davenport is here real quick. I always like to talk
Speaker 2: to him this time of year because end of the year,
Speaker 2: and you got some downtime presumably at the holidays, and
Speaker 2: you can't just sit there and drink eggnogny cookies like
Speaker 2: I do. You may actually like, Okay, I got little
Speaker 2: stuff to do. I've got some housekeeping you do. One
Speaker 2: of these shadow list is checking your credit reports. Details
Speaker 2: on that to follow right after this Scott's Loan Show.
Speaker 2: This is seven hundred ww.
Speaker 3: By I jiy. You need to entertain.
Speaker 2: Hopefully during the Christmas break, the holiday break here, you'll
Speaker 2: have some time to yourself and maybe more time yourself
Speaker 2: to get some I don't know housekeeping stuff done. What
Speaker 2: are the things you should do? Put it on your
Speaker 2: calendar right now. That is to make sure you pull
Speaker 2: your free credit report once a year from the three
Speaker 2: major agencies you can pull your credit report for free.
Speaker 2: It's always good to go check up on that stuff
Speaker 2: to make sure that I don't know there's something to
Speaker 2: wonk in there or your identity stolen. For details on that,
Speaker 2: let me bring in Anthony Davenport from credit cards dot Com. Anthony, welcome.
Speaker 2: You know what's insane here is that we're just supposed
Speaker 2: to know to pull the credit reports. Yeah, it's like woy,
Speaker 2: you're supposed to know that? How am I supposed to
Speaker 2: know that?
Speaker 6: Yeah?
Speaker 8: And what's crazy is you know, no one ever learns
Speaker 8: about this whole system. You're not taught about it in
Speaker 8: high school or college, or your parents can't teach it
Speaker 8: to you because it pretty much wasn't applicable then and
Speaker 8: they didn't learn about it either. Yet, it controls so
Speaker 8: much of what we do it controls, you know, as
Speaker 8: you mentioned a mortgage, your credit cards, student loans, car loans,
Speaker 8: but it's now even being used for auto insurance home insurance,
Speaker 8: and the information they're collecting on you isn't always right
Speaker 8: and you have very little recourse to correct it. And
Speaker 8: that's something that we delve into in a whole chapter
Speaker 8: called gaming the System how to actually correct this information
Speaker 8: and remove negative information being.
Speaker 2: They're about you and most people say have to say,
Speaker 2: probably don't pull their annual credit report or look at
Speaker 2: their credit report.
Speaker 3: They just assume that it is what it is.
Speaker 8: Yeah, and you know, that's the worst thing in the
Speaker 8: world is to you know, we list the five biggest mistakes,
Speaker 8: and one of them is that people don't look at
Speaker 8: their credit and then they walk into a bank and say,
Speaker 8: I'd like to get a loan. That's the wrong time
Speaker 8: to figure out that something may not be quite right,
Speaker 8: and you're taking their word for it that they're going
Speaker 8: to give you the best deal because you just pay
Speaker 8: your bills on time, and that's nothing could be further
Speaker 8: from the truth.
Speaker 2: In your job, because you do this for a living
Speaker 2: and you work with people to try and get their
Speaker 2: credit right and then some big names and some smaller
Speaker 2: names probably as well too, and everywhere in between. Typically,
Speaker 2: when someone is facing a credit issue, is it a
Speaker 2: bad decision they made, is it bad luck? Is it
Speaker 2: the credit bureau screwing things up? As a combination? What
Speaker 2: typically do you say?
Speaker 8: It really is a huge combination of things. In many
Speaker 8: cases we see people with data associated to them because
Speaker 8: they have a similar name to someone or similar social
Speaker 8: But the biggest issue that I see, and it affects
Speaker 8: thirty five percent of Americans or that we get medical collections.
Speaker 8: And these are people that have health insurance. But because
Speaker 8: the system is so flawed, and when you go to
Speaker 8: the doctor, the hospital, the er, you hand over your
Speaker 8: insurance card and you figure you're all good. But then
Speaker 8: the doctor, the er they have a fight with the
Speaker 8: insurance company over how much is supposed to be paid.
Speaker 8: The balance that's in the middle if they can't agree
Speaker 8: is your liability. And often you don't find out about
Speaker 8: it until it's on your credit report and it lowers
Speaker 8: your credit score by an average of fifty to one
Speaker 8: hundred points.
Speaker 2: Well that's insane, and that that's medical. And so if
Speaker 2: you look at all this stuff and make it up.
Speaker 2: There's a lot of numbers. There's a lot of codes.
Speaker 2: It's meant for us not to understand eve when we
Speaker 2: look at it, except maybe that wonders that, yeah, what
Speaker 2: a one number. So let's start with this again, Anthony Davenport,
Speaker 2: you're a score and inside your secrets to understanding, controlling
Speaker 2: and protect your credit score this morning on the show.
Speaker 2: So what are the numbers that go into Obviously it's
Speaker 2: on the amount you borrow, there's a ratio between the
Speaker 2: cap on your limit on your card and how much
Speaker 2: you have out time to pay, things like that, But
Speaker 2: what are some of.
Speaker 3: The other factors.
Speaker 8: So what catches most people off guard is that thirty
Speaker 8: five percent of your score, which is the biggest percentage
Speaker 8: of it, comes down to whether you pay your bills
Speaker 8: on time. But now the other sixty five percent has
Speaker 8: absolutely nothing to do with whether you pay your bills
Speaker 8: on time, and that's usually what people can correct easier
Speaker 8: than their payment history. So the next biggest chunk of
Speaker 8: it is thirty percent of your score. Almost as much
Speaker 8: as whether you pay your bills on time comes down
Speaker 8: to how much of your credit cards you're using. And
Speaker 8: this is this is not like whether your pay your
Speaker 8: bills off in full each month. Remember that they only
Speaker 8: update the bureaus every thirty to forty five days. So
Speaker 8: if you're someone that maxes out a card and then
Speaker 8: pays it off a week later, your credit score took
Speaker 8: could plummet because of when they report that balance to
Speaker 8: the bureaus, and then you look like a credit risk.
Speaker 3: Wow, that's interesting.
Speaker 2: So it's something that seemingly you would never think of
Speaker 2: that factors in is having a huge impact.
Speaker 3: On your credit.
Speaker 8: It's massive impact, and it catches people off guard, no
Speaker 8: matter how much money they make or what their payment
Speaker 8: history is like.
Speaker 2: Typically, when you run into problems with this, you start
Speaker 2: missing things like a mortgage payment, delinquency on a loan,
Speaker 2: going more than sixty days late on a car loan,
Speaker 2: things like that. Those are the big ones that are
Speaker 2: going to wind up getting you in trouble real quick.
Speaker 8: Right, Yeah, they do. But I'll tell you that in
Speaker 8: terms of the things that impact your score the most,
Speaker 8: usually it's going to be like a collection account when
Speaker 8: you don't return that cable box or you get a
Speaker 8: medical collection needn't know about. Those things typically impact you
Speaker 8: a huge amount. A mortgage will impact you the most
Speaker 8: you know, if you miss your mortgage payment, but other
Speaker 8: things like that will have a huge, massive impact. And
Speaker 8: another crazy thing that we get into is the fact
Speaker 8: that if you have previously immaculate history and then you
Speaker 8: have a late payment, that will impact you much more
Speaker 8: than someone who occasionally misses a payment here or there.
Speaker 2: Yeah, that makes I guess it makes sense too. And
Speaker 2: you know, we buy stuff all the time. Most people
Speaker 2: use their credit card for purchases big and small, don't
Speaker 2: think anything of it, and try to pay the bill,
Speaker 2: I guess at the end of the month. But man,
Speaker 2: some things start falling between the cracks. You know, you
Speaker 2: get a bill that somehow doesn't show up, and you've
Speaker 2: got all sorts of problems and it compounds rather.
Speaker 3: Quickly as well.
Speaker 2: Do you have any recourse at that point though, with
Speaker 2: a credit bure er is if something like that happens,
Speaker 2: or do you have to go to the credit or
Speaker 2: is there anything they can do or is it a
Speaker 2: case where hey, it's out of my hands.
Speaker 8: No, you absolutely can do something, and you should, especially
Speaker 8: if you know that you're going to be facing hardship
Speaker 8: in advance. You know, we put a whole chapter on
Speaker 8: how to recover when disaster strikes or wouldn't. It's really
Speaker 8: when life happens, because life is going to happen, and
Speaker 8: it happens to most of us and we go through
Speaker 8: these situations. So we basically a reference guide for if
Speaker 8: this happens to you, this is how to deal with it.
Speaker 8: This is how you deal with the creditor, this is
Speaker 8: how you do with the credit bureau. It'll help you
Speaker 8: get back on your feet and it resolve the issues,
Speaker 8: but it does take persistence. It's not just a magical
Speaker 8: you know, hit a button and things go away.
Speaker 2: Student debt relief is a big topic in Washington. The
Speaker 2: presidents trying to do it again and just continue to
Speaker 2: write off all this money and we're just borrowing it
Speaker 2: from our kids' future. So it's going to make it worse,
Speaker 2: not better down the line. But they don't care because
Speaker 2: money terms, that gets served and most they can be.
Speaker 2: There's eight years, right, But Anthony Davenport on that too.
Speaker 2: I mean, the candiates kicked down the road, but what
Speaker 2: happens to the credit marcus overall?
Speaker 8: So that's the big looming question right now is what
Speaker 8: is going to be the next crisis and student loan
Speaker 8: debt is almost double the amount of debt of or
Speaker 8: on credit cards, so many people are getting them that
Speaker 8: Now they're been changing rules within the government about being
Speaker 8: able to garnish your social security because they're expecting people
Speaker 8: to go into retirement owing student loan debt. So people
Speaker 8: are falling behind on that. They don't have the means
Speaker 8: to be able to make payments on these massive amounts
Speaker 8: of debt. And that's a huge issue. You know, we
Speaker 8: wrote about that extensively because student loan debt, falling behind
Speaker 8: on it, it's a massive, massive, massive problem.
Speaker 2: It is too and I think that's a I don't
Speaker 2: know if I want to call it a bubble because
Speaker 2: it's so subsidized at this point, but I think it's
Speaker 2: going to catch up, right, because if you have all
Speaker 2: this outstanding debt and you have no means to pay
Speaker 2: it off and mom and dad co signed, you're going
Speaker 2: to screw up their social security. That's going to get garnished.
Speaker 2: Your social security is going to get garnished, and the
Speaker 2: whole industry is set up to make sure that that happens.
Speaker 2: It's the one loan you can't get discharged. And I
Speaker 2: think they learned a lot too from the two thousand
Speaker 2: and eight crash and so on. Is to learn how
Speaker 2: to make sure that bubble dozen per so the money
Speaker 2: keeps coming in.
Speaker 8: You're right, and the fact is most of these student
Speaker 8: loans are backed by the federal government, which has so
Speaker 8: many options to collect the money from you.
Speaker 2: Again, the name of the book is an Insider Secret
Speaker 2: to understanding, controlling and protecting your credit score. Anthony Davenport,
Speaker 2: thanks for the time. Good stuff, appreciate.
Speaker 8: It, Thanks Scott Pleasure.
Speaker 2: It's kind of like the batteries and your smoke detector
Speaker 2: dur the time change. Got to remember to do these
Speaker 2: little things. Check those credit ports, just make sure. Just
Speaker 2: takes a few minutes anyway, and then you know where
Speaker 2: your stuff is. Set it and forget it. And speaking
Speaker 2: of money, we'll talk to Andy Shaffer from all Worth
Speaker 2: Financial one more time this year. He's at eleven thirty five.
Speaker 2: We've got news now though here on the Home of
Speaker 2: the Best Bengals coverage seven hundred WLW Cincinnati six million
Speaker 2: packages every single day during the holidays. That number is
Speaker 2: going to go up. Americans will ship back and forth
Speaker 2: something like three billion packages, which is an incredible number.
Speaker 2: All I know is this. I get my Amazon app out,
Speaker 2: I'm a prime member. I see something I clicked by.
Speaker 2: Two days later, there's a box at my front door.
Speaker 2: What the hell happens in between? Adam Baker's here. Adam
Speaker 2: is vice president of Global Transportation Services and a global
Speaker 2: mile at Amazon.
Speaker 3: Adam, how are.
Speaker 6: You very good? Thank you very much for having me
Speaker 6: on your show.
Speaker 2: Yeah, appreciate it. How come you have time to talk
Speaker 2: to me? You shouldn't you be out doing stuff?
Speaker 6: I am very busy this time of.
Speaker 9: Year, but this is my twentieth season, so I got
Speaker 9: I can make a little bit of.
Speaker 6: Time for you.
Speaker 3: You got some minions I got. I appreciate it.
Speaker 2: How much more volume do you do in December, say,
Speaker 2: versus July or June or summer months.
Speaker 9: Oh, the holiday season is one of our peak THEESUS
Speaker 9: throughout the year, you know, just going into the Cyber
Speaker 9: Monday and including Cyber Monday.
Speaker 6: The eleven days we sold over a billion units.
Speaker 9: That was a thousand items a second on Black Friday
Speaker 9: alone getting sold. So there's a tremendous amount of volume
Speaker 9: that comes through our system during this time period, and
Speaker 9: we've planned and prepared for this for many many months
Speaker 9: through our investments in our workforce, through one point two
Speaker 9: billion dollars in up skilling for training and education, as
Speaker 9: well as the onboarding of over two hundred and fifty
Speaker 9: thousand people during this time period.
Speaker 2: So the hiring has been good for you guys. And
Speaker 2: I think it's interesting too because you see your ads
Speaker 2: all the time. You're always recruiting as big a company
Speaker 2: as you are, and the benefits and compensation are great.
Speaker 2: That then drives up I guess better wages and things
Speaker 2: for everyone else too, so it rises all ships. So
Speaker 2: the fast fulfillment dates because you're seeing an uptick. You're
Speaker 2: getting you got the bodies, clearly, you've got the fleet,
Speaker 2: the facilities, and the logistics to do this. But because
Speaker 2: I can still get stuff in two days via Amazon,
Speaker 2: even this close to the holidays, it means your supply
Speaker 2: chain at the front and has to really move. It
Speaker 2: means your suppliers are cranking stuff out. So have you
Speaker 2: also seen an increase then and had to increase like
Speaker 2: the number of ports that container ships will ship to
Speaker 2: and such.
Speaker 9: So we absolutely have a tremendous supply chain groups powered
Speaker 9: by AI actually, So it's the fighting optimization technology. It's
Speaker 9: a phenomenal organization. What they're doing is they're going through
Speaker 9: trying to figure out a four hundred million unique items
Speaker 9: that are being sold throughout the United States. They try
Speaker 9: to figure out how much to buy, how much, where
Speaker 9: to source those from, whether it's overseas or domestically, in
Speaker 9: order to make sure that we have it on time
Speaker 9: for the point of sale. They then try to figure
Speaker 9: out where to place those four hundred unique items through
Speaker 9: hundreds of facilities in the United States and other places.
Speaker 9: And they also have to predict it at the appropriate
Speaker 9: inventory level to make sure when you click that buy
Speaker 9: now button, we can get it to your porch in
Speaker 9: a day and in many places three to five hours.
Speaker 2: Yeah, I mean it's incredible what you can get same
Speaker 2: day or if I'll be here on your doorstep before
Speaker 2: ordered by midnight, And it's incredible to me. If it's
Speaker 2: something stupid, it's like not yeah, toilet paper paper tells something.
Speaker 2: But I need a I don't know, I build stuff,
Speaker 2: so I need a particular part for a remodel I'm
Speaker 2: working on, so I may order it and go, oh yeah,
Speaker 2: I'll be here overnight. The logistics and the hubspoken hub
Speaker 2: system that you have is incredible.
Speaker 3: So let's go through that.
Speaker 2: Adam Baker with Amazon in talking about I click, I
Speaker 2: buy something a day or two days later or the same
Speaker 2: day shows up on my door. But there's so much
Speaker 2: happening in between that too, So let's just start with this,
Speaker 2: I click and then what happens give me the deep
Speaker 2: dive on what occurs after I place my order.
Speaker 6: Well, right, I'm in the same boat as you.
Speaker 9: I have many everyday essentials delivered to my porch on
Speaker 9: a daily basis, but also in the middle of the garage,
Speaker 9: and I need a torquerench or something like that, and
Speaker 9: somehow we are able to get it to me before dinner.
Speaker 6: So it's impressive. But this network starts with the time
Speaker 6: you click.
Speaker 9: By now, we talked a little bit about how we
Speaker 9: place the inventory, but after that it then comes into
Speaker 9: our fulfillment centers.
Speaker 6: Okay, the our fulfillment centers.
Speaker 2: Yeah, I'm sorry, And let's before we get there, let's
Speaker 2: describe how the system works. Right, because I know that
Speaker 2: you took the Superdome in Detroit, which is about five
Speaker 2: hours away for us, four hours away from us, and
Speaker 2: turn that into a hub but we also have here
Speaker 2: in Cincinnati at CVG. You've got like twelve flights a
Speaker 2: day going out too, So you've got a completely automated
Speaker 2: robotic system here at CVG. So it's not just you know,
Speaker 2: coming from one place, you have these all over the place.
Speaker 9: That's a great example of where we've deployed over seven
Speaker 9: hundred and fifty thousand robots throughout the Amazon network.
Speaker 2: All right, so I ordered, I order this torks you mean, say,
Speaker 2: a Torqu's ranch or a Torqus driver, and I get that.
Speaker 2: All right, I need that, and it's coming in I
Speaker 2: don't know, overnight or whatever I place it order.
Speaker 3: It goes to I don't know.
Speaker 2: I guess the closest one where they stock like two
Speaker 2: billion things would be Detroit. I'm guessing it's coming out
Speaker 2: of there or somewhere similar, depending where you live. And
Speaker 2: does that get on a does that get on a plane?
Speaker 2: Is that is that then sent via truck the distribution
Speaker 2: network for that one little thing? How many hands does
Speaker 2: that pass through? How many ports does that go through?
Speaker 9: Well, when we're doing our job right and well, it'll
Speaker 9: be coming through our regionalized network on the ground. So
Speaker 9: over the last year we went from a national fulfillment
Speaker 9: network in which an item could be flying through all
Speaker 9: these hubs from coast to coast, we moved into a regionalized.
Speaker 6: Network that basically is there's eight regents in the United.
Speaker 9: States, and within each region, we're actually able to fill
Speaker 9: seventy six percent of the demand within the region, and
Speaker 9: so we're keeping it on the ground, which is good
Speaker 9: for the environment, it's good for the speed, and it's
Speaker 9: also very good for our cost.
Speaker 2: Adam Banker, vice president of Global Transportation Services and Global
Speaker 2: Mile of Amazon. We're talking about how you click and
Speaker 2: then the same day, the next day or two days later,
Speaker 2: this obscure object whatever is you order or order of
Speaker 2: multiple orders shows up on your doorstep. We just don't
Speaker 2: think about it. It's cool because you go out two
Speaker 2: days This is amazing. I know exactly where it is
Speaker 2: in the world and when it's getting delivered, and I
Speaker 2: even know after it's delivered as well, when it's on
Speaker 2: my doorstep, which is absolutely incredibly Just take it for granted.
Speaker 2: With this time of year, the holidays being here, it's
Speaker 2: a better time than ever before to talk about what
Speaker 2: happens after you click. And so that part then somehow
Speaker 2: ends up on my door inside one of these facilities,
Speaker 2: whether it's at CBG or in Detroit as well, what
Speaker 2: goes on there, How much of this is automated, how
Speaker 2: much of this is robotics, how much is that it
Speaker 2: hands on? And does that change based on the location
Speaker 2: the type of facility that is.
Speaker 9: So I've actually been into the CBG hubs quite frequently,
Speaker 9: but yes, there's a tremendous amount of robotics in our facilities,
Speaker 9: especially as it relates to the items that.
Speaker 6: We're talking about.
Speaker 9: Those robots are moving inventory around to make a safer
Speaker 9: environment for our employees. They're eliminating some of the lifting
Speaker 9: that's required, so they'll actually pick up carts that contain
Speaker 9: completed packages and move them on to our trailers to
Speaker 9: go outside the door. So within each facilities, we also
Speaker 9: even have robotic arms that are used to be able
Speaker 9: to actotes as well as pick items out of individual
Speaker 9: inventory pods. So the level of robotics does vary depending
Speaker 9: on how old a particular building is. But all across
Speaker 9: the US worldwide, we've created over seven hundred new job
Speaker 9: categories and over a hundred thousand new jobs.
Speaker 2: It is amazing too because it works so well and
Speaker 2: we just don't think about it. We don't think about
Speaker 2: the user and I click and it shows up. But
Speaker 2: everything in between is a miracle of modern technology of AI,
Speaker 2: of computers. It's literally the cutting edge of American consumption, consumerism,
Speaker 2: and our capitalistic society. It's something else.
Speaker 9: It's really impressive to be able to make robotics AI
Speaker 9: with our workforce. This creates a very collaborative environment with
Speaker 9: our employees to enable them to be able to work
Speaker 9: an incredibly safe and ergonomic environment while still be able
Speaker 9: to deliver at the speeds that our customers have come
Speaker 9: a customs to other applications that AI are actually even
Speaker 9: in the delivery programs. So we talked about getting the
Speaker 9: item out of a fulfillment center and somewhat through our
Speaker 9: transportation network, but we still have to put it on
Speaker 9: your porch. AI has been used in that case to
Speaker 9: go through and try to group all those thousands and
Speaker 9: thousands of shipments together into a logical route that's carbon efficient,
Speaker 9: highly dense, and simple for our delivery service partner providers
Speaker 9: to be able to utilize. But when you have weather
Speaker 9: or any.
Speaker 6: Other unexpected activity, when you're out on the road.
Speaker 9: AI jumps in and recalculates those routes rewraps the driver
Speaker 9: to ensure that they have an easy, simplistic route to complete,
Speaker 9: as well as making sure we get that package on
Speaker 9: your porch on time.
Speaker 2: Yeah, and I think it's an interesting part about it too,
Speaker 2: because you as well, we only make fewer right so
Speaker 2: fewer left turns as possible to save time and gas,
Speaker 2: and that's really a thing.
Speaker 3: But AI is taking this to the next level.
Speaker 6: Absolutely.
Speaker 9: AI has begun to really change the way we actually
Speaker 9: do our routing, help us incorporate the unpredictable into what's
Speaker 9: been going on. And then we're beginning to use generative
Speaker 9: AI to go and take all the delivery preferences that
Speaker 9: people have had in terms of like how do you
Speaker 9: get into some of these complicated apartment complexes. There are
Speaker 9: difficult entries into some houses and some neighborhoods that after
Speaker 9: you've done this successfully a couple of times and have
Speaker 9: that in your data set, the generative AI can help
Speaker 9: work and provide those simplistic instructions for those drivers.
Speaker 2: Yeah, because I'd imagine with the number of bodies that
Speaker 2: you have, and they're human beings, they get sick, they
Speaker 2: take days off in vacations, and you may have different
Speaker 2: drivers on every route. I mean, my driver doesn't even
Speaker 2: look like it's the same driver every time, and yet
Speaker 2: they know. And that's because AI. That's because it's all
Speaker 2: right there in front of It tells them what to
Speaker 2: do step by step, so it doesn't matter the person
Speaker 2: and they can literally slide in and do that. If
Speaker 2: you're trained as a driver, you can do that job
Speaker 2: in any neighborhood.
Speaker 6: It sounds like well, and this.
Speaker 9: Goes to how Amazon has been actually helping support small
Speaker 9: medium sized businesses with our Delivery Service Provider program so
Speaker 9: they can there's thirty five hundred small businesses that are
Speaker 9: employing two hundred and seventy.
Speaker 6: Nine thousand drivers worldwide.
Speaker 9: Our tools that we've built in AI, whether it's the
Speaker 9: generative AI that's coming out or the routing, has enabled
Speaker 9: these delivery service providers to be able to hire drivers
Speaker 9: and be able to change routes as necessary. But they
Speaker 9: have generated over forty five billion dollars in revenue.
Speaker 6: So it's an amazing.
Speaker 9: Opportunity for small businesses and shows our commitment to their growth.
Speaker 2: It is an incredible thing to think of how quickly.
Speaker 2: The stuff from all the way around the world can
Speaker 2: get to us in such a short fast period of time.
Speaker 2: What's the biggest challenge for you guys moving forward here?
Speaker 9: One of the largest challenges that we face is making
Speaker 9: sure that we are always focused on taking care of
Speaker 9: our customer in terms of the price selection and convenience
Speaker 9: that they demand. The customers never ask for a product
Speaker 9: to be slower, They never asked for it to be
Speaker 9: more expensive, and they never ask it for it to
Speaker 9: be less convenient. So that's the biggest challenge that we have.
Speaker 9: When we're at the scale that we're at, servicing so
Speaker 9: many customers worldwide as well as inside each individual's small neighborhood,
Speaker 9: that is the biggest challenge is how do we continually
Speaker 9: to push that envelope on more than four hundred million
Speaker 9: unique items, be able to deliver in one day or
Speaker 9: less or in.
Speaker 6: Many cases three to five hours.
Speaker 9: That's an incredible challenge, and I believe that we continue
Speaker 9: to deliver on that price selection and speed for our customers.
Speaker 2: One other thing I'd add too, With this time of
Speaker 2: the year and the demand, the demand is extremely high.
Speaker 3: This is your busiest time of the year. The postal service.
Speaker 2: I think they see a huge uptick they do like
Speaker 2: twenty million, you guys are going to do in the
Speaker 2: billions when it comes to Amazon outside of talent. You
Speaker 2: know what we saw during COVID where no one could
Speaker 2: go into work. That was a huge challenge for the
Speaker 2: supply chain and everything completely a huge learning experience for
Speaker 2: you guys. But I think the other intangible here is
Speaker 2: the weather. You've got high demand, you've got some challenging
Speaker 2: weather concerns with you know, snow moving in.
Speaker 3: Et cetera, et cetera.
Speaker 2: How does AI or how do you guys adapt to
Speaker 2: that make that change so it is seamless. You know,
Speaker 2: you may have a slight delay in an item, but
Speaker 2: it's only going to be a day. Whereas airlines, I
Speaker 2: mean it seems like passenger lines take a lot longer
Speaker 2: to recover from weather event than you guys do.
Speaker 6: Well.
Speaker 9: Weather is something that in the logistics business you get
Speaker 9: very used to. We actually have our own meteorology group
Speaker 9: that is providing us regular weather reports to enable us
Speaker 9: to dynamically adjust our delivery.
Speaker 6: Times throughout the country.
Speaker 9: So using AI and the meteorology group, we know that
Speaker 9: oh three feet of snow is very different in somewhere
Speaker 9: like Anchorage, Alaska that it is in Atlanta, and we
Speaker 9: can adjust our delivery promises for that, and using that information,
Speaker 9: we can make the great promises for our customers. As
Speaker 9: part of this, though, taking a step back, one of
Speaker 9: the things that I really want to spend some time talking.
Speaker 6: About is those small medium.
Speaker 9: Sized businesses that Amazon has partnered with for many years.
Speaker 9: Sixty percent of our web sales are actually coming from
Speaker 9: these independent sellers. They sold over four point one billion
Speaker 9: products and twenty twenty two alone. So this is a
Speaker 9: great commitment that Amazon's making to small.
Speaker 6: Medium sized businesses to enable.
Speaker 9: Us to be able to deliver your packages to the porch,
Speaker 9: whether it's snow or a wonderful sunny day.
Speaker 2: And Baker, vice president Global Transportation Services and Global Mile
Speaker 2: at Amazon, and how you get your stuff so damn quick,
Speaker 2: especially when there's high demand and weather events here too.
Speaker 2: The inner workings of Amazon, which to CVG, They've got
Speaker 2: twelve flights a day now going out. That's the state
Speaker 2: of the art facility, and I expect more to come
Speaker 2: because of our location the efficiency here in the Cincinnati area.
Speaker 3: Adam all the best, Thanks for taking time out. Appreciate you.
Speaker 6: Thank you very much, and I appreciate being on the show.
Speaker 2: Mary Christmas Adam. Yeah, I just kind of take it
Speaker 2: for grant. Stuff shows up behind the scenes of Amazon.
Speaker 2: Now you throw ups and FedEx in there, But to Amazon,
Speaker 2: that entire operation is just so mind blowing. The complex
Speaker 2: you just can't get you wrap your arm around it.
Speaker 2: How many packages and how they know stuff's getting delayed.
Speaker 2: I think it's a model for everybody else. Like, wait,
Speaker 2: Amazon can tell I got a like that torch wrench
Speaker 2: you mentioned, I got a torch wrench come and I
Speaker 2: can say where in the world it is when it's
Speaker 2: been delivered. Hell, I got to keep out of my
Speaker 2: garage loss the Amazon driver that puts things in my garage.
Speaker 2: You know, the only thing I got to worry about
Speaker 2: is not running or over when I pull in. It's
Speaker 2: pretty cool, pretty damn cool how the stuff gets to
Speaker 2: your house from Santa's workshop. Now, you know Scott Sloan
Speaker 2: show on seven hundred WLW, Cincinnati.
Speaker 3: More than a few of our patients have talked to
Speaker 3: me about their first time. But it's not the first time.
Speaker 3: You're probably thinking.
Speaker 10: Of, man, how to make it, how to keep it
Speaker 10: and how to keep others off your stats. This is
Speaker 10: all worth advice with Andy Shaeffer.
Speaker 3: All right, we're gonna put the lid on twenty twenty.
Speaker 2: What is this twenty twenty twenty, nineteen, twenty eight twenty.
Speaker 3: I'm not sure what year it is, but I know
Speaker 3: that the year's almost over. I know that, Andy Shaeffer.
Speaker 3: How are you, brother?
Speaker 11: I'm doing great. Christmas is ready for the family. We're
Speaker 11: just kind of settling in and looking forward to the holidays.
Speaker 6: Yeah.
Speaker 2: So you get gold bullyon again for the kids, and
Speaker 2: some of us get the chocolate coins. You know that
Speaker 2: you open it, you actually put the real gold coins
Speaker 2: in the stockings.
Speaker 3: I like that about you.
Speaker 11: No, I usually do. I'll do some lottery tickets for
Speaker 11: my nieces and nephews though, you know, try to get
Speaker 11: them started a little bit.
Speaker 2: That's always fucking I try to turn them into the
Speaker 2: degenerates early.
Speaker 3: I love it.
Speaker 6: That's right.
Speaker 2: Before you go, speaking of a holiday, I saw holiday
Speaker 2: spending numbers up four percent over four percent.
Speaker 3: I think year over year. That's good? Is that normally
Speaker 3: where we are?
Speaker 6: Yeah?
Speaker 11: I mean, you know, you you get a little bit
Speaker 11: of a Santa claus rally as far as spending is concerned,
Speaker 11: and that's seasonal, and you know that's usually what we
Speaker 11: see and so you know, part of the challenge for
Speaker 11: me is really trying to understand the data and try
Speaker 11: to take the seasonality out of it and understand what
Speaker 11: the numbers really tell us. So it's a little bit
Speaker 11: murky to try to figure out where we are from
Speaker 11: an economic standpoint.
Speaker 2: So but yeah, yeah, I mean spending is always up
Speaker 2: this time of year. All right, good, now what we
Speaker 2: want for sure? This year has been absolutely nothing short
Speaker 2: of incredible, I think and borring.
Speaker 3: You know, we just have a few days left here.
Speaker 2: God knows what could happen, and you never want to
Speaker 2: say it's impossible to screw this up.
Speaker 3: But another great year for the market.
Speaker 11: It's been fabulous, and you know, we did have a
Speaker 11: hiccup in April. Obviously, there was some fears about the
Speaker 11: tariffs when Donald Trump announced that he was going to
Speaker 11: place tarrifs on you know a lot of the countries
Speaker 11: that we do a lot of business with, and that
Speaker 11: was short lived. And the reason that it was short
Speaker 11: lived was that we started to see some flexibility from
Speaker 11: the Trump administration as far as deadlines were concerned on
Speaker 11: the tariffs in April, and so the market fell very sharply,
Speaker 11: but it came back sharply. Ever since then, we've been
Speaker 11: slow and steady. You know, we've had some you know,
Speaker 11: inflation data that has started to cool a little bit.
Speaker 11: The jobs data has been a little bit sketchy, but
Speaker 11: not super bad. And so because of that, you know,
Speaker 11: investors generally have felt pretty good about where we are
Speaker 11: from an economic standpoint, and the markets have reflected that.
Speaker 2: Yeah, if you look at that year, you know, January
Speaker 2: to January chart you every year, it's pretty much a
Speaker 2: hockey stack.
Speaker 11: Yeah, I mean it's been great and I think you know,
Speaker 11: that's a lesson for every investor. You know, there's going
Speaker 11: to be some tumultuous times. We usually see a correction
Speaker 11: on average once per year, and a correction is a
Speaker 11: ten percent downturn in the market in any given year,
Speaker 11: and that's fairly common. So if you stay the course,
Speaker 11: you're disciplined with your investment approach, maybe make some small
Speaker 11: adjustments to certain sectors, you're gonna be fine.
Speaker 3: Yeah, you mentioned tariffs.
Speaker 2: Grand picture as we close out the year, so we're
Speaker 2: almost a year of tariffs at this point mixed bag.
Speaker 3: I mean, has it done anything? Is it doing what?
Speaker 2: It certainly doesn't seem like, you know, the sky fell,
Speaker 2: But at the same time, it didn't accomplish the goals
Speaker 2: that they wanted in the first place. It just seems
Speaker 2: like we're trading money, you know, on the form of
Speaker 2: taxes to rebates and handouts.
Speaker 3: So did we do anything?
Speaker 11: Well, I think it remains to be seen, you know,
Speaker 11: with anything, I think it's going to take some time
Speaker 11: to figure out and unwind and you know, kind of
Speaker 11: look under the hood and see how it has affected
Speaker 11: the economy in general. Now, you know, when we look
Speaker 11: at inflation, the fear was is that it was going
Speaker 11: to fire up inflation. You know, if the cost of
Speaker 11: goods is going to increase due to the tariffs, then
Speaker 11: that's going to hurt the pocketbook of you know, the
Speaker 11: US consumer prices are going to continue to rise. And
Speaker 11: what we've heard from the FED is that essentially, hey,
Speaker 11: this is probably going to be a one off. Our
Speaker 11: economy is fairly robust. It probably won't have a long
Speaker 11: term impact on inflation. And that's really what has bared
Speaker 11: out when we look at the rest of the year. Now,
Speaker 11: as far as you know, what does it look like
Speaker 11: as far as industry here in the United States, Does
Speaker 11: it really move the needle as far as income is
Speaker 11: concerned from the tax revenue that we get. That remains
Speaker 11: to be seen. But I do think that one of
Speaker 11: the long term benefits that we may see is access
Speaker 11: to other markets within the world. You know, part of
Speaker 11: the reason that the Trump administration wanted to increase terraff
Speaker 11: on you know a lot of our trading partners is
Speaker 11: that we really just kind of want access to their markets.
Speaker 11: If Ford is able to sell F one fifties here
Speaker 11: in the United States, we want to be able to
Speaker 11: sell F one fifties over in China and Europe and
Speaker 11: things like that. And so it's not as much about
Speaker 11: the revenue that we're able to generate from it or
Speaker 11: protecting our industry here in the United States. It's more
Speaker 11: about being able to sell our stuff to countries that
Speaker 11: sell stuff to US, I think, and I think that
Speaker 11: we have seen a little bit of an impact there
Speaker 11: and hopefully it will open up markets for US.
Speaker 2: Well, hopefully it does too. It just seems like it's
Speaker 2: a wash. You know, it's hard to and it's it's
Speaker 2: one of those things. I mean, you're basically changing the
Speaker 2: way we've done things for a long time. So it's
Speaker 2: going to take much much longer in order to see success,
Speaker 2: if that's the case. But we are not patient as Americans,
Speaker 2: and so we'll see what the next of your brains.
Speaker 2: I know, we finally got some updated consumer inflation reports.
Speaker 2: A CPI is finally out after the government shutdown.
Speaker 11: Yeah, but it was a little bit murky. I do
Speaker 11: think there was a step in the right direction. Year
Speaker 11: of ear inflation showed, you know, about two point six percent.
Speaker 11: That was a decrease from two point seven percent, its
Speaker 11: lowest since twenty twenty one, and so investors were happy
Speaker 11: to see, you know, at least the arrow is pointing
Speaker 11: in the right direction as far as inflation is current concerned. Now,
Speaker 11: the problem is is that we didn't get a lot
Speaker 11: of the price data for October. The November collection was
Speaker 11: partially delayed till later in the month because of the
Speaker 11: government shutdown, So a lot of the information that the
Speaker 11: FED was using was carry forward from a lot of
Speaker 11: the values that we had prior to the government shutdown,
Speaker 11: So it is full of anomalies. The November year of
Speaker 11: the year data likely understates the true underlying price of inflation,
Speaker 11: but don't. But we're not dismissing it. It is showing
Speaker 11: a lot better than what we expected, and it is
Speaker 11: coming down and the FED feels pretty good about it,
Speaker 11: and that's why we cut rates in December.
Speaker 2: All Right, how much of data starting to stream back
Speaker 2: in the faucet's been turned back on after the shutdown.
Speaker 2: But how much stuff are we getting in right now?
Speaker 6: Is it?
Speaker 5: Is?
Speaker 2: It kind of hard to read because the numbers are sowingconsistent.
Speaker 11: Yeah, but it's it's like putting a puzzle together. You know,
Speaker 11: we're able to get enough data from the private sector
Speaker 11: to where we can kind of piece together with the
Speaker 11: puzzle to be able to find out, you know, what
Speaker 11: is really happening. But it is, I mean, we are
Speaker 11: missing some data. Last week, you know, we had some
Speaker 11: labor market data. It was the first labor market data
Speaker 11: that we had in a few months, and so similar
Speaker 11: to the CPI release, that update was messy as well.
Speaker 11: We had employers shed a total of one hundred and
Speaker 11: five thousand jobs in October. We added sixty four thousand
Speaker 11: jobs in November. Those numbers are a little bit more
Speaker 11: volatile than the underlying data shows, because most of that
Speaker 11: data was entirely by one hundred and sixty two thousand
Speaker 11: drop decline in the federal government employ employment range, and
Speaker 11: so when you look at the private sector, it was
Speaker 11: more stable. We added fifty two thousand jobs in October
Speaker 11: and another sixty nine thousand jobs in November, and that's
Speaker 11: what I'm talking about. We kind of have to look
Speaker 11: at the private sector because obviously the government sector was
Speaker 11: a little bit skewed due to the shutdown. And when
Speaker 11: we do look at the private sector, it shows that
Speaker 11: things are not great, but they're not terrible either.
Speaker 2: All right, So inflation down a tick from two seven
Speaker 2: to two six. The target, of course, or the FED
Speaker 2: has always been two and that's extremely sticky right now.
Speaker 2: And I'm sure Wall Street lights it the numbers going down,
Speaker 2: but to me, that's one of the number of indicators
Speaker 2: we have where there's a disconnect between Wall Street and
Speaker 2: Main Street. Most people don't notice what point one percent
Speaker 2: is in play. They know they're paying more for stuff
Speaker 2: at the grocery store. When that starts to turn, then
Speaker 2: I think you got probably a lot more consumer confidence.
Speaker 3: That's how works.
Speaker 11: Yeah, that's how it works. But we also have to
Speaker 11: understand what wage growth is too, and what we're seeing
Speaker 11: is there is a net positive in wage growth inflation.
Speaker 11: So if inflation is up two point six percent, that
Speaker 11: obviously means that, you know, the cost of goods continues
Speaker 11: to increase. And I always want to communicate my clients
Speaker 11: and my friends and say, hey, you know, inflation is
Speaker 11: not when it comes down, it's not a decrease in
Speaker 11: the prices. It's an increase less slowly. But if your
Speaker 11: wages continue to increase at a more rapid pace than
Speaker 11: the cost of goods, and so that leads to more
Speaker 11: of a net positive gain for the consumer. And that's
Speaker 11: what we're seeing right now. We're starting to see wage
Speaker 11: growth continue to increase, We're starting to see inflation decrease,
Speaker 11: and ultimately it makes things more affordable for the consumer. Now,
Speaker 11: you know, I know generally when you talk to people
Speaker 11: out on the street and I talk to friends and clients,
Speaker 11: and it doesn't feel like that, but the numbers beare
Speaker 11: it out, and the numbers do suggest that the consumer
Speaker 11: is a lot more healthy today than we wore five
Speaker 11: years ago.
Speaker 2: All right, shafers On from all Worth financial Sloan here
Speaker 2: seven hundred last session of the year between the two
Speaker 2: of us in here, and it's been a great year
Speaker 2: for the stock market. Of course, inflation is sticky, and
Speaker 2: maybe that will start to turn here with the with
Speaker 2: the interest rates dropping and the like.
Speaker 3: What about job data right now? Where are things looking?
Speaker 11: Yeah, the unemployment rate is rose risen to about four
Speaker 11: point five six percent in November. That's up from four
Speaker 11: point four percent in September. Again, we didn't have October
Speaker 11: unemployment rate due to the shutdown, and so the increase
Speaker 11: isn't not a result of people losing their jobs. It's
Speaker 11: mostly due to over three hundred thousand people entering the
Speaker 11: labor force to find a job. And so while the
Speaker 11: labor market continues to be characterized as cooling, it's not crashing.
Speaker 11: This isn't shouldn't be a shock to a lot of people.
Speaker 11: Interest rates have been very restrictive over the past three years,
Speaker 11: and the rates have moved closer than neutral, and so
Speaker 11: that's the job market will likely stabilize or you know,
Speaker 11: over the next year, because we're going to continue to
Speaker 11: decrease rates. I do think that we'll probably see two
Speaker 11: quarter percent cuts next year. And maybe even three, and
Speaker 11: that will help the labor market as well. So I
Speaker 11: think the FED is feeling pretty good about where we are.
Speaker 11: You know, things aren't rosy right now, but they're not bad.
Speaker 11: The porridge isn't hot, it's not cold. I think the
Speaker 11: porridge is just right. And I think that the investors
Speaker 11: that are looking at the stock market feel that, and
Speaker 11: that's why the market has done well. And if you've
Speaker 11: been participating in the market, been very pleased with returns
Speaker 11: this year, and I suspect that we'll continue on into
Speaker 11: twenty twenty six.
Speaker 3: Yeah.
Speaker 2: I saw that crypto took a hit, specifically bitcoin, but
Speaker 2: at the same time, gold and silver hit record highs
Speaker 2: this week.
Speaker 11: Well, I think gold and silvers have hit record highs
Speaker 11: a lot of due to the fact of the uncertainty.
Speaker 11: Usually precious metals are investments that investors will flee to
Speaker 11: if they're uncertain about you know, the markets in general,
Speaker 11: and you know how companies are performing. And because of
Speaker 11: the uncertainty, I think a lot of it has to
Speaker 11: do with the Trump administration and you know the volatility there.
Speaker 11: I think a lot of people have started investing his
Speaker 11: gold as a safety net, and so you know, when
Speaker 11: we look at the safety nets that you have access
Speaker 11: to gold has been very popular. Furthermore, Costco even you know,
Speaker 11: opened up a lot of gold opportunities for investors, and
Speaker 11: I think it made it more not only accessible for investors,
Speaker 11: but also you know, you know, kind of endearing. And
Speaker 11: we've seen a lot of people invest in gold and
Speaker 11: it's form very well during these folatile times.
Speaker 2: Now, the capo coscos you get buy twenty of them,
Speaker 2: you just can't buy one.
Speaker 3: Yeah, well, and then you end up buying tires.
Speaker 2: And yeah, yeah, the money I'm investing in saving I'm
Speaker 2: losing on.
Speaker 3: Oh look, I have a fifty five gallon drum a mayonnaise.
Speaker 3: Why not let me load that in.
Speaker 2: This is an interesting one and it hits close to
Speaker 2: us here Jim Beam pausing production for an entire year
Speaker 2: and get their plants in Kentucky because they have an.
Speaker 3: Oversupply of bourbon.
Speaker 2: I thought those words would never ever be heard or
Speaker 2: utter from my lifts, but we have an oversupply bourbon shaver.
Speaker 3: Oh no, what are you gonna do?
Speaker 2: Well, let's go, boys, I mean, well that that actually
Speaker 2: gave me Gary Jeff Fingers, Come on, let's go let's go, Rocky,
Speaker 2: let's go we got.
Speaker 3: Well, maybe we got drinking to do well.
Speaker 11: Maybe we'll plant a trip together down on the Bourbon
Speaker 11: Trail like that to help them out. But you know,
Speaker 11: there has been a resurgence in the demand for bourbon,
Speaker 11: and you're starting to see a lot of demand internationally
Speaker 11: for bourbon. You know, you're starting to see it, you know,
Speaker 11: in Japan, in a lot of the Asian countries where
Speaker 11: there is an appetite for it, and so you know,
Speaker 11: hopefully that will fix itself. You know, it's really hard
Speaker 11: for small businesses, and those are small businesses. If you've
Speaker 11: ever been down to any of those distilleries down in Kentucky.
Speaker 11: They're not these giant, you know, megastructures and production plants.
Speaker 11: You know, they have a specific amount and so I
Speaker 11: think it's a challenge for them to figure out what
Speaker 11: the demand is and how much supply. And sometimes you
Speaker 11: can get over your skis a little bit, maybe produce
Speaker 11: a little bit more than what the demand is. But
Speaker 11: I think they'll work it, work it out. And I
Speaker 11: have all the confidence in the world Scott that you'll
Speaker 11: help them with that over supply. So you we'll see
Speaker 11: how it goes.
Speaker 2: Well, they're probably liking more than anything, the fact that
Speaker 2: our governor killed the entire THT beverage industry with a
Speaker 2: stroke of his pen.
Speaker 6: Yeah.
Speaker 11: I saw that, and I did really look into it
Speaker 11: as much. But you know, that doesn't make a whole
Speaker 11: lot of sense to me. I think that's more of
Speaker 11: a political posturing than anything else, because you know, at
Speaker 11: this point, you know, with a lot of the THHC
Speaker 11: regulation and the flexibility there, it makes sense that you
Speaker 11: kind of deregulate a little bit, you know, as far
Speaker 11: as those those beverages are concerned. I think you do
Speaker 11: have to keep an eye on it if you're a
Speaker 11: restaurant or a bar and how you distribute it and
Speaker 11: making sure that people aren't overserved in that regard, but
Speaker 11: that should be easy to do. So that didn't really
Speaker 11: make a whole lot of sense to me.
Speaker 2: Yeah, it's you know, it's it's appealing I guess maybe
Speaker 2: to the tee tollers out there who aren't going to
Speaker 2: drink anyway, but they don't want anyone else to do
Speaker 2: it either, Like whether it's gambling or strip clubs.
Speaker 3: I like boobies in bourbon. If you don't then't don't
Speaker 3: go well.
Speaker 11: And I remember when Lawrenceburg was getting their casino, remember
Speaker 11: thirty years ago, they thought it was going to be
Speaker 11: the end of that area. And and you know, it's
Speaker 11: a big resurgent. And kids are going to college based
Speaker 11: on you know, the gambling dime, and so there's a
Speaker 11: lot of positives there. And I don't think the world
Speaker 11: is going to fall apart just because somebody wants to
Speaker 11: go out and have a good time every once.
Speaker 2: Yeah, exactly right. I'm a responsible adult. And the reason
Speaker 2: why I drink is because of things like this. Andy Shaeffer,
Speaker 2: it all worth financial. He is their show airs weeknights
Speaker 2: at six on fifty five KR. See it's simply money.
Speaker 2: He pops on the show Tuesdays, last time for twenty
Speaker 2: twenty five. Brother, I appreciate it, man. It's been fun
Speaker 2: this year.
Speaker 11: Learn a lot.
Speaker 2: You're the best of what you do and I appreciate
Speaker 2: you guys so much. And hope you have a merry
Speaker 2: Christmas and happy New Year you too, Scott. Always enjoy it.
Speaker 2: Looking forward to twenty twenty six. Talking with you all right, brother,
Speaker 2: be good. Drink up, drink up, get some of that nog.
Speaker 2: We've got news update here in just minutes, and then
Speaker 2: it's a could be wheel of sub hosts for Bill
Speaker 2: CONNLESSI pops back in Toto, A show we like you
Speaker 2: did yesterday.
Speaker 3: I Gotta Talk, I Gotta speak.
Speaker 2: The American people made me, Now they really don't, Billy,
Speaker 2: seven hundred ww Cincinnati.
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