WEBVTT - Cliff Notes: THE FED RAISES RATES & MORTGAGE INTEREST RATES SKYROCKET

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<v Speaker 2>Let's get into this. Shout out to MG the mortgage God.

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<v Speaker 2>He texted me today. We spoke a couple of weeks ago,

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<v Speaker 2>and he said, I told you a couple of weeks ago,

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<v Speaker 2>seven percent interest rates coming soon. So they just released

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<v Speaker 2>numbers thirty thirty year fixed mortgage six point eight seven

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<v Speaker 2>percent for the thirty year fixed. Fifteen year fix is

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<v Speaker 2>six point fifteen. So yeah. Matt called me a couple

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<v Speaker 2>of weeks ago and I asked him how high he

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<v Speaker 2>thought interest rates could get for mortgages, and he told

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<v Speaker 2>me seven percent. And it's creeping. It's creeping to that

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<v Speaker 2>seven percent level.

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<v Speaker 3>Sounds like, oh seven all over again.

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<v Speaker 4>Yeah, I mean historically, think about it's not a relatively

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<v Speaker 4>low exact, That's what I was gonna say. I was like,

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<v Speaker 4>I had to humble myself, and like, I'm thinking about

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<v Speaker 4>obviously my parents were buying, like buying a home in

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<v Speaker 4>the eighties, Like we talked about if you look at

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<v Speaker 4>the interest rates in like from nineteen eighty to nineteen nine, this.

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<v Speaker 3>Oh yeah, I was treacherous. Yeah yeah, this in years

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<v Speaker 3>when it was like eighteen percent.

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<v Speaker 5>Fourteen percent, Like, how's this even?

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<v Speaker 6>How?

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<v Speaker 5>How does somebody do that?

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<v Speaker 4>And it is because I was talking to Matt when

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<v Speaker 4>I was trying to lock it an interest rate, and

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<v Speaker 4>I was like, look, man, it's that like four he said,

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<v Speaker 4>locking it now is not.

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<v Speaker 5>It's only going up. And so watching it go up

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<v Speaker 5>to seven percent, it's tough, man, it's tough, but perspective

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<v Speaker 5>is team. It could be worse. It could be worse.

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<v Speaker 3>It could be worse, man, y'allhoo.

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<v Speaker 6>Finance reported sales of luxury homes dropped by twenty percent

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<v Speaker 6>as a result from August. I know everyone's kept saying

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<v Speaker 6>the market is not going to fall. No, if interest

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<v Speaker 6>rates go up. This is common sense. If things cost more,

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<v Speaker 6>people are going to buy less of it, right, especially

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<v Speaker 6>if the price.

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<v Speaker 3>Adjust in four months five months.

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<v Speaker 2>Well, so this goes to the economic talk. So a

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<v Speaker 2>couple of days ago we didn't get a chance to

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<v Speaker 2>talk about it because it wasn't Monday going on. When

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<v Speaker 2>the Fed raised interest rates. So yeah, I mean the

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<v Speaker 2>whole point of raising interest is to taper inflation. So

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<v Speaker 2>you know, it's or it's done to make money more expensive,

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<v Speaker 2>so that pass gets passed down to the bank. So

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<v Speaker 2>when the Federal Reserve raises interest rates, then the banks,

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<v Speaker 2>the retail banks actually borrow money. So that means that

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<v Speaker 2>it's more expensive for the retail banks to all money.

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<v Speaker 2>So now the interest products that retail banks offer, like mortgages,

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<v Speaker 2>like credit cards, like different things of that nature, all

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<v Speaker 2>the loans are higher, So yeah, it tapers inflation because

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<v Speaker 2>people aren't buying at a crazy pace like they were before.

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<v Speaker 2>But it's a delicate line that you have to walk

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<v Speaker 2>because it's like if you if you raise interest rates

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<v Speaker 2>too much, then you could break the economy. So you

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<v Speaker 2>raise interest rates to stop people from spending to lower inflation,

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<v Speaker 2>but you don't want to raise it too high to

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<v Speaker 2>you know, shut off the faucet.

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<v Speaker 6>Yeah, And as a result in the lower inflation environment,

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<v Speaker 6>credit card balances have won to one of the highest

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<v Speaker 6>levels of all time at forty six billion dollars. Now,

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<v Speaker 6>I want you guys to add that with the student

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<v Speaker 6>loan bubble and if those two pop, how much that

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<v Speaker 6>is that out in the universe.

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<v Speaker 5>Yeah, I mean in addition to that.

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<v Speaker 4>Right, So to the back to the home thing, obviously,

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<v Speaker 4>when interest rates go up, it makes people tougher to

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<v Speaker 4>buy homes, but you're going to and if you look

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<v Speaker 4>at the percentages, look at the percentage of people that

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<v Speaker 4>are refinancing their homes, right, like, why it wouldn't even

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<v Speaker 4>make sense now, right, then you're not going to try

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<v Speaker 4>to lock it in a higher rate.

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<v Speaker 5>So that obviously that goes down as well.

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<v Speaker 2>But there's also there's also it's never the end of

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<v Speaker 2>the world, because if you buy, if you buy it,

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<v Speaker 2>even if you buy now it's a seven percent interest rate. Eventually,

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<v Speaker 2>rates will go down eventually and you can always be financed.

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<v Speaker 5>That's when it would be a time to refund.

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<v Speaker 4>So what I'm saying in this environment doesn't make as

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<v Speaker 4>much sense as it did nine months ago.

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<v Speaker 5>Months ago.

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<v Speaker 6>Homework question for everyone, how often do interest rates go

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<v Speaker 6>down when there's not quantitative bees on?

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<v Speaker 2>Well, there's going to be quantitative easing though at some

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<v Speaker 2>point there's going to be quantitative There's going to be

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<v Speaker 2>another round of quantitative easing. It'll happen.

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<v Speaker 3>Everybody next crashed, maybe twenty eight or twenty.

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<v Speaker 2>Nine, it'll happen.

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<v Speaker 3>It will happen. Its gonna be a few years.

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<v Speaker 2>Yeah, give it. Give us some time to breathe.

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<v Speaker 5>Okay.

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<v Speaker 6>If they're telling you they're tightening it, which that's code

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<v Speaker 6>for destroying the new wealth, new money.

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<v Speaker 3>That got created.

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<v Speaker 6>Why would they put interest rates back at zero for

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<v Speaker 6>new wealth to come out?

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<v Speaker 3>They're not. It's part of the cycle. That's what.

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<v Speaker 6>Like when I told everyone go get that Ray Dollio book,

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<v Speaker 6>like that was a super cheat.

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<v Speaker 3>Code to tell you, Like what was happening.

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<v Speaker 6>The Fed have and I need everyone realizes every entitea

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<v Speaker 6>and every person is responsible for their team winning. Only

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<v Speaker 6>even a federal reserve, they have their own best interest

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<v Speaker 6>at heart when they're doing these things.

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<v Speaker 3>As they should.

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<v Speaker 6>You have to know what cycle you're in and where

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<v Speaker 6>you fit in in that piece in order to know

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<v Speaker 6>how to play the game. So when I'm telling you

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<v Speaker 6>guys about direction and timing and wave and lunar cycles

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<v Speaker 6>and pyramids and everything, if you go watch every episode

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<v Speaker 6>of Market Monday's you had a blueprint that's the scholarship

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<v Speaker 6>and a hits Finn, you will know how to play

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<v Speaker 6>this game accurately.

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<v Speaker 2>Yep, yep, I'll be fresh as how if the Feds

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<v Speaker 2>watching always another great h.

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<v Speaker 7>This episode is brought to you by P and C Bank.

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<v Speaker 2>Or of our time to Yeah, if words come to words,

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<v Speaker 2>just stay fresh. But you never know if the world

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<v Speaker 2>falls apart, look your best. Yes, I'll be fresh boards.

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<v Speaker 3>That is not literal advice for those of you that

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<v Speaker 3>are part of Mark.

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<v Speaker 5>Especial.

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<v Speaker 6>This is high level for the record from my team

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<v Speaker 6>back home in Chicago, Gary, South Side of Chicago. Nap

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<v Speaker 6>No look, Bummy, Wolves is out.

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<v Speaker 5>Wolves, Wolves is out, Wolves is out.

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<v Speaker 2>I'll be fresher.

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<v Speaker 5>Shout shot, shout the tip. Today's birthday, Todays's birthday. Shout

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<v Speaker 5>the t I P shout out to.

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<v Speaker 4>One of the greatest of all time that's ever lived,

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<v Speaker 4>the best rapperup alive, Little Wayne.

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<v Speaker 5>Dwayne called his fortieth birthday. It was yesterday.

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<v Speaker 2>Shout they got birthday's Yeah.

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<v Speaker 4>I remember it was left like early, like two thousands,

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<v Speaker 4>like two thousand and seven, when it was all hot.

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<v Speaker 5>He had that big Atlanta party. It was like Cheezy

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<v Speaker 5>had his birthday.

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<v Speaker 3>And it was I wish George Power album.

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<v Speaker 2>Yeah, shout to him, Yeah, shout out to Wayne and shot.

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<v Speaker 2>Tip a good friend of the show. He's been on

0:09:54.679 --> 0:10:00.800
<v Speaker 2>uh show, He's been on YEP and just all good dude, man,

0:10:01.000 --> 0:10:02.960
<v Speaker 2>very very solid, good dude. We went to his first

0:10:02.960 --> 0:10:06.680
<v Speaker 2>comedy show, legendary, legend bunch.

0:10:06.480 --> 0:10:09.800
<v Speaker 3>Of talented man, fat and low key.

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<v Speaker 6>I'm not gonna say he found the but he was

0:10:11.880 --> 0:10:13.800
<v Speaker 6>one of the first people to embrace the up. He

0:10:13.880 --> 0:10:16.920
<v Speaker 6>saw something in him early and thug like low Ki

0:10:17.000 --> 0:10:18.960
<v Speaker 6>brought Tip back for a second too. So like that,

0:10:20.200 --> 0:10:22.000
<v Speaker 6>like Tip has a good eye for talent, like that

0:10:22.040 --> 0:10:22.800
<v Speaker 6>he does not get.

0:10:22.679 --> 0:10:26.600
<v Speaker 2>Credit for free Gunner free y mself.

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<v Speaker 5>Yeah, it ain't about the marand yes.

0:10:32.600 --> 0:10:36.000
<v Speaker 2>Trap Wall Street trapper stated if Apple falls saw one

0:10:36.040 --> 0:10:39.800
<v Speaker 2>hundred and thirty dollars, the market will fall apart. Do

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<v Speaker 2>you believe this to be true? And if not, what

0:10:43.040 --> 0:10:45.319
<v Speaker 2>price would be a sign?

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<v Speaker 3>Shout out to the.

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<v Speaker 5>Trapper and let me give contacts to the people out

0:10:48.760 --> 0:10:51.120
<v Speaker 5>there for you. I know you're gonna go crazy. All right,

0:10:51.160 --> 0:10:54.319
<v Speaker 5>So market tap wise, biggest company right has the biggest.

0:10:54.000 --> 0:10:57.319
<v Speaker 4>Market tap But I waited, So the percent of how

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<v Speaker 4>much of the influence and dominance that Apple has on

0:11:01.320 --> 0:11:03.920
<v Speaker 4>the S and P is seven percent, so it's five

0:11:04.000 --> 0:11:06.600
<v Speaker 4>hundred company seven percent is just weighted average.

0:11:07.120 --> 0:11:10.320
<v Speaker 5>Uh and on the mastep's fourteen percent. So just keep

0:11:10.320 --> 0:11:13.600
<v Speaker 5>that in context. I'm throwing into the gam.

0:11:13.360 --> 0:11:15.240
<v Speaker 3>Yeah, trying to tryus, my guy. I appreciate it.

0:11:15.200 --> 0:11:17.280
<v Speaker 6>Have been in an episode with Peter that was I

0:11:17.320 --> 0:11:18.960
<v Speaker 6>think that was one of our best episodes. Like the

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<v Speaker 6>Energy was it amazing, But the Trap even trap ad

0:11:23.000 --> 0:11:27.000
<v Speaker 6>lives when we talk, was like amazing.

0:11:27.600 --> 0:11:30.720
<v Speaker 3>So kudos to him.

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<v Speaker 6>One thirty is going to be a key level, like

0:11:34.080 --> 0:11:36.920
<v Speaker 6>I mapped out one for me and trap price is

0:11:36.960 --> 0:11:41.000
<v Speaker 6>always be eight nine ten dollars apart maximum.

0:11:41.640 --> 0:11:45.200
<v Speaker 3>But yeah, I figures thirty. They can be tough. They

0:11:45.200 --> 0:11:45.920
<v Speaker 3>can be really tough.

0:11:45.960 --> 0:11:46.120
<v Speaker 8>Man.

0:11:46.280 --> 0:11:53.319
<v Speaker 6>I will starting to worry about global depression at that point, Seriously,

0:11:54.080 --> 0:11:55.720
<v Speaker 6>I would, because if they're in.

0:11:55.640 --> 0:12:02.640
<v Speaker 2>Trouble, I Fi might be a little chot. Like you're

0:12:02.640 --> 0:12:04.040
<v Speaker 2>a little chopped and screwed right now.

0:12:04.080 --> 0:12:05.440
<v Speaker 5>They're trying to put you in the matricen.

0:12:05.640 --> 0:12:06.800
<v Speaker 2>Yeah, you're chopping screwed.

0:12:10.480 --> 0:12:12.160
<v Speaker 5>Yeah. So it's at one fifty right now.

0:12:12.480 --> 0:12:14.400
<v Speaker 2>So as we wait for Ian to get his Wi

0:12:14.400 --> 0:12:18.839
<v Speaker 2>Fi signal together, somebody had asked about eyebonds, uh and

0:12:19.240 --> 0:12:21.199
<v Speaker 2>the chat. I actually wanted to talk about that because

0:12:21.200 --> 0:12:22.960
<v Speaker 2>we did speak about that before. But it is a

0:12:23.000 --> 0:12:25.360
<v Speaker 2>great way to hedge against inflation. The only thing with

0:12:25.440 --> 0:12:27.480
<v Speaker 2>eyebons I think going most that you could put it

0:12:27.520 --> 0:12:29.800
<v Speaker 2>in ten thousand dollars. Well, yeah, but I do think

0:12:29.800 --> 0:12:31.480
<v Speaker 2>you can put it in twenty thousand if you're married,

0:12:32.240 --> 0:12:36.679
<v Speaker 2>gotcha right now? So eyebonds are government bonds that track

0:12:37.120 --> 0:12:41.160
<v Speaker 2>that go based off the inflation rate. So yeah, it's

0:12:41.200 --> 0:12:43.600
<v Speaker 2>a good time to buy eyebonds right now because obviously

0:12:43.640 --> 0:12:47.439
<v Speaker 2>inflation is very high, so you'll be earning. I think

0:12:47.440 --> 0:12:49.360
<v Speaker 2>what's the percentage right now? I think it's like, I

0:12:49.360 --> 0:12:51.560
<v Speaker 2>don't know, it might be like six percent. It was

0:12:51.720 --> 0:12:54.920
<v Speaker 2>seven percent a couple of months ago. So that's been

0:12:55.120 --> 0:12:57.040
<v Speaker 2>locks it in for six months at a time, I believe.

0:12:57.320 --> 0:13:00.559
<v Speaker 2>But yeah, I think you're only put in Well I

0:13:00.559 --> 0:13:03.360
<v Speaker 2>shouldn't say only, because ten thousand dollars still you know

0:13:03.679 --> 0:13:04.520
<v Speaker 2>a good amount of money.

0:13:04.520 --> 0:13:06.880
<v Speaker 5>Well you were there on ten thousand, ten thousand and

0:13:07.240 --> 0:13:08.400
<v Speaker 5>twenty thousand if if.

0:13:08.280 --> 0:13:11.320
<v Speaker 2>You're married, yeah, but if you yeah, it is a

0:13:11.320 --> 0:13:14.760
<v Speaker 2>good way, uh to beat inflation, or at least keep

0:13:14.840 --> 0:13:16.920
<v Speaker 2>up with inflation and it is, it's definitely gonna be

0:13:16.960 --> 0:13:21.520
<v Speaker 2>paying much higher than any bank or savings account, so

0:13:21.840 --> 0:13:23.840
<v Speaker 2>definitely something to consider the interested in that.

0:13:24.120 --> 0:13:27.480
<v Speaker 9>So it says here that the limit for purchasing advos

0:13:27.520 --> 0:13:30.720
<v Speaker 9>in person, So a married couple can each put up

0:13:30.720 --> 0:13:34.480
<v Speaker 9>to ten thousand any investment annually, or up to fifteen

0:13:34.520 --> 0:13:38.280
<v Speaker 9>thousand if they both also elect to get text refunds

0:13:38.760 --> 0:13:39.320
<v Speaker 9>in payer.

0:13:39.720 --> 0:13:41.800
<v Speaker 2>So I believe it says nine pointy six percent right

0:13:41.840 --> 0:13:44.280
<v Speaker 2>now in chat. So but yeah, nine pointy six percent.

0:13:44.720 --> 0:13:45.760
<v Speaker 2>That can't really beat that.

0:13:45.960 --> 0:13:52.240
<v Speaker 10>Yeah, my graduates from my school being forced back drop

0:13:52.880 --> 0:13:56.600
<v Speaker 10>bag drop might drop bag drop drop.

0:14:07.160 --> 0:14:10.559
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