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Speaker 2: Let's get into this. Shout out to MG the mortgage God.
Speaker 2: He texted me today. We spoke a couple of weeks ago,
Speaker 2: and he said, I told you a couple of weeks ago,
Speaker 2: seven percent interest rates coming soon. So they just released
Speaker 2: numbers thirty thirty year fixed mortgage six point eight seven
Speaker 2: percent for the thirty year fixed. Fifteen year fix is
Speaker 2: six point fifteen. So yeah. Matt called me a couple
Speaker 2: of weeks ago and I asked him how high he
Speaker 2: thought interest rates could get for mortgages, and he told
Speaker 2: me seven percent. And it's creeping. It's creeping to that
Speaker 2: seven percent level.
Speaker 3: Sounds like, oh seven all over again.
Speaker 4: Yeah, I mean historically, think about it's not a relatively
Speaker 4: low exact, That's what I was gonna say. I was like,
Speaker 4: I had to humble myself, and like, I'm thinking about
Speaker 4: obviously my parents were buying, like buying a home in
Speaker 4: the eighties, Like we talked about if you look at
Speaker 4: the interest rates in like from nineteen eighty to nineteen nine, this.
Speaker 3: Oh yeah, I was treacherous. Yeah yeah, this in years
Speaker 3: when it was like eighteen percent.
Speaker 5: Fourteen percent, Like, how's this even?
Speaker 6: How?
Speaker 5: How does somebody do that?
Speaker 4: And it is because I was talking to Matt when
Speaker 4: I was trying to lock it an interest rate, and
Speaker 4: I was like, look, man, it's that like four he said,
Speaker 4: locking it now is not.
Speaker 5: It's only going up. And so watching it go up
Speaker 5: to seven percent, it's tough, man, it's tough, but perspective
Speaker 5: is team. It could be worse. It could be worse.
Speaker 3: It could be worse, man, y'allhoo.
Speaker 6: Finance reported sales of luxury homes dropped by twenty percent
Speaker 6: as a result from August. I know everyone's kept saying
Speaker 6: the market is not going to fall. No, if interest
Speaker 6: rates go up. This is common sense. If things cost more,
Speaker 6: people are going to buy less of it, right, especially
Speaker 6: if the price.
Speaker 3: Adjust in four months five months.
Speaker 2: Well, so this goes to the economic talk. So a
Speaker 2: couple of days ago we didn't get a chance to
Speaker 2: talk about it because it wasn't Monday going on. When
Speaker 2: the Fed raised interest rates. So yeah, I mean the
Speaker 2: whole point of raising interest is to taper inflation. So
Speaker 2: you know, it's or it's done to make money more expensive,
Speaker 2: so that pass gets passed down to the bank. So
Speaker 2: when the Federal Reserve raises interest rates, then the banks,
Speaker 2: the retail banks actually borrow money. So that means that
Speaker 2: it's more expensive for the retail banks to all money.
Speaker 2: So now the interest products that retail banks offer, like mortgages,
Speaker 2: like credit cards, like different things of that nature, all
Speaker 2: the loans are higher, So yeah, it tapers inflation because
Speaker 2: people aren't buying at a crazy pace like they were before.
Speaker 2: But it's a delicate line that you have to walk
Speaker 2: because it's like if you if you raise interest rates
Speaker 2: too much, then you could break the economy. So you
Speaker 2: raise interest rates to stop people from spending to lower inflation,
Speaker 2: but you don't want to raise it too high to
Speaker 2: you know, shut off the faucet.
Speaker 6: Yeah, And as a result in the lower inflation environment,
Speaker 6: credit card balances have won to one of the highest
Speaker 6: levels of all time at forty six billion dollars. Now,
Speaker 6: I want you guys to add that with the student
Speaker 6: loan bubble and if those two pop, how much that
Speaker 6: is that out in the universe.
Speaker 5: Yeah, I mean in addition to that.
Speaker 4: Right, So to the back to the home thing, obviously,
Speaker 4: when interest rates go up, it makes people tougher to
Speaker 4: buy homes, but you're going to and if you look
Speaker 4: at the percentages, look at the percentage of people that
Speaker 4: are refinancing their homes, right, like, why it wouldn't even
Speaker 4: make sense now, right, then you're not going to try
Speaker 4: to lock it in a higher rate.
Speaker 5: So that obviously that goes down as well.
Speaker 2: But there's also there's also it's never the end of
Speaker 2: the world, because if you buy, if you buy it,
Speaker 2: even if you buy now it's a seven percent interest rate. Eventually,
Speaker 2: rates will go down eventually and you can always be financed.
Speaker 5: That's when it would be a time to refund.
Speaker 4: So what I'm saying in this environment doesn't make as
Speaker 4: much sense as it did nine months ago.
Speaker 5: Months ago.
Speaker 6: Homework question for everyone, how often do interest rates go
Speaker 6: down when there's not quantitative bees on?
Speaker 2: Well, there's going to be quantitative easing though at some
Speaker 2: point there's going to be quantitative There's going to be
Speaker 2: another round of quantitative easing. It'll happen.
Speaker 3: Everybody next crashed, maybe twenty eight or twenty.
Speaker 2: Nine, it'll happen.
Speaker 3: It will happen. Its gonna be a few years.
Speaker 2: Yeah, give it. Give us some time to breathe.
Speaker 5: Okay.
Speaker 6: If they're telling you they're tightening it, which that's code
Speaker 6: for destroying the new wealth, new money.
Speaker 3: That got created.
Speaker 6: Why would they put interest rates back at zero for
Speaker 6: new wealth to come out?
Speaker 3: They're not. It's part of the cycle. That's what.
Speaker 6: Like when I told everyone go get that Ray Dollio book,
Speaker 6: like that was a super cheat.
Speaker 3: Code to tell you, Like what was happening.
Speaker 6: The Fed have and I need everyone realizes every entitea
Speaker 6: and every person is responsible for their team winning. Only
Speaker 6: even a federal reserve, they have their own best interest
Speaker 6: at heart when they're doing these things.
Speaker 3: As they should.
Speaker 6: You have to know what cycle you're in and where
Speaker 6: you fit in in that piece in order to know
Speaker 6: how to play the game. So when I'm telling you
Speaker 6: guys about direction and timing and wave and lunar cycles
Speaker 6: and pyramids and everything, if you go watch every episode
Speaker 6: of Market Monday's you had a blueprint that's the scholarship
Speaker 6: and a hits Finn, you will know how to play
Speaker 6: this game accurately.
Speaker 2: Yep, yep, I'll be fresh as how if the Feds
Speaker 2: watching always another great h.
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Speaker 2: Or of our time to Yeah, if words come to words,
Speaker 2: just stay fresh. But you never know if the world
Speaker 2: falls apart, look your best. Yes, I'll be fresh boards.
Speaker 3: That is not literal advice for those of you that
Speaker 3: are part of Mark.
Speaker 5: Especial.
Speaker 6: This is high level for the record from my team
Speaker 6: back home in Chicago, Gary, South Side of Chicago. Nap
Speaker 6: No look, Bummy, Wolves is out.
Speaker 5: Wolves, Wolves is out, Wolves is out.
Speaker 2: I'll be fresher.
Speaker 5: Shout shot, shout the tip. Today's birthday, Todays's birthday. Shout
Speaker 5: the t I P shout out to.
Speaker 4: One of the greatest of all time that's ever lived,
Speaker 4: the best rapperup alive, Little Wayne.
Speaker 5: Dwayne called his fortieth birthday. It was yesterday.
Speaker 2: Shout they got birthday's Yeah.
Speaker 4: I remember it was left like early, like two thousands,
Speaker 4: like two thousand and seven, when it was all hot.
Speaker 5: He had that big Atlanta party. It was like Cheezy
Speaker 5: had his birthday.
Speaker 3: And it was I wish George Power album.
Speaker 2: Yeah, shout to him, Yeah, shout out to Wayne and shot.
Speaker 2: Tip a good friend of the show. He's been on
Speaker 2: uh show, He's been on YEP and just all good dude, man,
Speaker 2: very very solid, good dude. We went to his first
Speaker 2: comedy show, legendary, legend bunch.
Speaker 3: Of talented man, fat and low key.
Speaker 6: I'm not gonna say he found the but he was
Speaker 6: one of the first people to embrace the up. He
Speaker 6: saw something in him early and thug like low Ki
Speaker 6: brought Tip back for a second too. So like that,
Speaker 6: like Tip has a good eye for talent, like that
Speaker 6: he does not get.
Speaker 2: Credit for free Gunner free y mself.
Speaker 5: Yeah, it ain't about the marand yes.
Speaker 2: Trap Wall Street trapper stated if Apple falls saw one
Speaker 2: hundred and thirty dollars, the market will fall apart. Do
Speaker 2: you believe this to be true? And if not, what
Speaker 2: price would be a sign?
Speaker 3: Shout out to the.
Speaker 5: Trapper and let me give contacts to the people out
Speaker 5: there for you. I know you're gonna go crazy. All right,
Speaker 5: So market tap wise, biggest company right has the biggest.
Speaker 4: Market tap But I waited, So the percent of how
Speaker 4: much of the influence and dominance that Apple has on
Speaker 4: the S and P is seven percent, so it's five
Speaker 4: hundred company seven percent is just weighted average.
Speaker 5: Uh and on the mastep's fourteen percent. So just keep
Speaker 5: that in context. I'm throwing into the gam.
Speaker 3: Yeah, trying to tryus, my guy. I appreciate it.
Speaker 6: Have been in an episode with Peter that was I
Speaker 6: think that was one of our best episodes. Like the
Speaker 6: Energy was it amazing, But the Trap even trap ad
Speaker 6: lives when we talk, was like amazing.
Speaker 3: So kudos to him.
Speaker 6: One thirty is going to be a key level, like
Speaker 6: I mapped out one for me and trap price is
Speaker 6: always be eight nine ten dollars apart maximum.
Speaker 3: But yeah, I figures thirty. They can be tough. They
Speaker 3: can be really tough.
Speaker 8: Man.
Speaker 6: I will starting to worry about global depression at that point, Seriously,
Speaker 6: I would, because if they're in.
Speaker 2: Trouble, I Fi might be a little chot. Like you're
Speaker 2: a little chopped and screwed right now.
Speaker 5: They're trying to put you in the matricen.
Speaker 2: Yeah, you're chopping screwed.
Speaker 5: Yeah. So it's at one fifty right now.
Speaker 2: So as we wait for Ian to get his Wi
Speaker 2: Fi signal together, somebody had asked about eyebonds, uh and
Speaker 2: the chat. I actually wanted to talk about that because
Speaker 2: we did speak about that before. But it is a
Speaker 2: great way to hedge against inflation. The only thing with
Speaker 2: eyebons I think going most that you could put it
Speaker 2: in ten thousand dollars. Well, yeah, but I do think
Speaker 2: you can put it in twenty thousand if you're married,
Speaker 2: gotcha right now? So eyebonds are government bonds that track
Speaker 2: that go based off the inflation rate. So yeah, it's
Speaker 2: a good time to buy eyebonds right now because obviously
Speaker 2: inflation is very high, so you'll be earning. I think
Speaker 2: what's the percentage right now? I think it's like, I
Speaker 2: don't know, it might be like six percent. It was
Speaker 2: seven percent a couple of months ago. So that's been
Speaker 2: locks it in for six months at a time, I believe.
Speaker 2: But yeah, I think you're only put in Well I
Speaker 2: shouldn't say only, because ten thousand dollars still you know
Speaker 2: a good amount of money.
Speaker 5: Well you were there on ten thousand, ten thousand and
Speaker 5: twenty thousand if if.
Speaker 2: You're married, yeah, but if you yeah, it is a
Speaker 2: good way, uh to beat inflation, or at least keep
Speaker 2: up with inflation and it is, it's definitely gonna be
Speaker 2: paying much higher than any bank or savings account, so
Speaker 2: definitely something to consider the interested in that.
Speaker 9: So it says here that the limit for purchasing advos
Speaker 9: in person, So a married couple can each put up
Speaker 9: to ten thousand any investment annually, or up to fifteen
Speaker 9: thousand if they both also elect to get text refunds
Speaker 9: in payer.
Speaker 2: So I believe it says nine pointy six percent right
Speaker 2: now in chat. So but yeah, nine pointy six percent.
Speaker 2: That can't really beat that.
Speaker 10: Yeah, my graduates from my school being forced back drop
Speaker 10: bag drop might drop bag drop drop.
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