1 00:00:00,320 --> 00:00:01,319 Speaker 1: The reality is. 2 00:00:03,200 --> 00:00:07,320 Speaker 2: Many people are going to be affected positively or negatively 3 00:00:07,840 --> 00:00:12,119 Speaker 2: by the One Big Beautiful Bill. The reason the President 4 00:00:12,160 --> 00:00:15,480 Speaker 2: called it the One Big Beautiful Bill is that it's 5 00:00:15,520 --> 00:00:19,520 Speaker 2: an omnibus bill. In order to get some of the 6 00:00:19,560 --> 00:00:23,800 Speaker 2: things you want, you've got to put a lot of 7 00:00:23,800 --> 00:00:27,120 Speaker 2: things in there. You've got to appease a lot of people. 8 00:00:28,400 --> 00:00:30,320 Speaker 2: And there's some stuff that you need to put in 9 00:00:30,360 --> 00:00:34,400 Speaker 2: there that wouldn't get passed otherwise. But you attach them 10 00:00:34,440 --> 00:00:36,479 Speaker 2: to a bill that it's hard for a congressman to 11 00:00:36,560 --> 00:00:40,440 Speaker 2: vote against because this is the only thing Trump supporters 12 00:00:40,479 --> 00:00:43,360 Speaker 2: were asked to support, and so you get a guy 13 00:00:43,360 --> 00:00:45,559 Speaker 2: that it makes it very hard for a guy to 14 00:00:45,600 --> 00:00:50,479 Speaker 2: vote against that. So you're going to hear lots of 15 00:00:50,520 --> 00:00:56,800 Speaker 2: stories of people who are negatively or positively affected by 16 00:00:57,640 --> 00:01:03,000 Speaker 2: the One Big Beautiful Bill. Here is a great example. 17 00:01:04,120 --> 00:01:08,399 Speaker 2: You may not know because you don't gamble much that 18 00:01:08,640 --> 00:01:12,440 Speaker 2: if you are a professional better a gambler, and there 19 00:01:12,480 --> 00:01:14,560 Speaker 2: are people who make their living. We actually sold a 20 00:01:14,560 --> 00:01:18,520 Speaker 2: house years ago. A couple bought a house from us, 21 00:01:19,760 --> 00:01:21,840 Speaker 2: and we're at the closing table. 22 00:01:21,840 --> 00:01:22,720 Speaker 1: What do you do for a living? 23 00:01:23,400 --> 00:01:27,520 Speaker 2: I'm a professional gambler, And it turns out that he was. 24 00:01:28,600 --> 00:01:32,160 Speaker 2: I can't imagine paying my bills in that manner. I mean, 25 00:01:32,240 --> 00:01:34,120 Speaker 2: how do you know when you're going to lose it all? 26 00:01:34,160 --> 00:01:40,080 Speaker 2: But not for me to decide. So presently, a professional 27 00:01:40,120 --> 00:01:45,679 Speaker 2: gambler can deduct one hundred percent of their gambling losses. 28 00:01:47,120 --> 00:01:52,720 Speaker 2: They only pay taxes on their winnings. So for whatever 29 00:01:53,320 --> 00:01:56,240 Speaker 2: you make money on, you pay taxes. Whatever you lose 30 00:01:56,280 --> 00:01:58,920 Speaker 2: money on, that's fine. 31 00:01:59,560 --> 00:02:00,639 Speaker 1: But start next. 32 00:02:00,560 --> 00:02:04,760 Speaker 2: Year, only ninety percent of gambling losses. 33 00:02:04,400 --> 00:02:05,400 Speaker 1: Will be deductible. 34 00:02:06,720 --> 00:02:10,360 Speaker 2: So let's say a professional gambler wins one hundred thousand dollars, 35 00:02:11,840 --> 00:02:14,040 Speaker 2: but then in the course of a year, he wins 36 00:02:14,080 --> 00:02:17,480 Speaker 2: one hundred thousand dollars, but he manages to lose that 37 00:02:17,520 --> 00:02:22,320 Speaker 2: exact amount one hundred thousand dollars the same year in 38 00:02:22,400 --> 00:02:26,919 Speaker 2: twenty twenty five before the one Big Beautiful Bill. Because 39 00:02:26,919 --> 00:02:29,919 Speaker 2: it takes effect next year, he would owe no taxes 40 00:02:31,360 --> 00:02:37,960 Speaker 2: because his losses offset his gains. Beginning next year, his 41 00:02:39,280 --> 00:02:43,120 Speaker 2: losses would still require that he pay ten percent on 42 00:02:43,240 --> 00:02:48,000 Speaker 2: them if they come from gains, so he would pay 43 00:02:48,080 --> 00:02:52,160 Speaker 2: ten thousand dollars. He's at a net zero, but he 44 00:02:52,200 --> 00:02:57,200 Speaker 2: would pay ten thousand dollars on those earnings. And it's 45 00:02:57,240 --> 00:03:00,000 Speaker 2: even possible that a better could end up paying ten 46 00:03:00,080 --> 00:03:03,960 Speaker 2: axes even if they finished with a net loss. I 47 00:03:04,000 --> 00:03:08,720 Speaker 2: can't imagine anybody's crying tears for professional gamblers because they 48 00:03:08,760 --> 00:03:12,680 Speaker 2: probably didn't even know they had that benefit. But I 49 00:03:12,720 --> 00:03:17,239 Speaker 2: saw a quote from a pro poker player named Phil Galfond, 50 00:03:17,680 --> 00:03:19,920 Speaker 2: and he told The New York Times, this makes it 51 00:03:19,960 --> 00:03:23,000 Speaker 2: impossible to gamble for a living. I wonder how many 52 00:03:23,040 --> 00:03:25,040 Speaker 2: people know that you can gamble for a living. 53 00:03:25,680 --> 00:03:27,840 Speaker 1: Who knew? Who knew? 54 00:03:29,320 --> 00:03:34,160 Speaker 2: The Nevada based accountant Russell Fox told The Washington Post, 55 00:03:34,200 --> 00:03:38,280 Speaker 2: this is a bad long term deal for the casino industry. 56 00:03:38,640 --> 00:03:43,000 Speaker 2: It's bad for gamblers. It's actually bad for the irs too. 57 00:03:43,080 --> 00:03:48,400 Speaker 2: We need a less complex tax system. What's interesting about 58 00:03:48,440 --> 00:03:52,040 Speaker 2: this is nobody can figure out who put it in. 59 00:03:53,040 --> 00:03:57,360 Speaker 2: There's nobody claiming credit for this new tax. And I 60 00:03:57,440 --> 00:04:00,000 Speaker 2: know most people don't care because it doesn't affect you. 61 00:04:00,680 --> 00:04:03,680 Speaker 2: But shouldn't it worry us a little bit that here's 62 00:04:03,720 --> 00:04:07,600 Speaker 2: a provision that is going to effect one small segment 63 00:04:07,640 --> 00:04:12,480 Speaker 2: of society and nobody knows who wrote it. The tax 64 00:04:12,480 --> 00:04:19,200 Speaker 2: bill is nine hundred pages long. They asked some of 65 00:04:19,240 --> 00:04:22,440 Speaker 2: the top Republican brass who put this in here? 66 00:04:22,520 --> 00:04:23,560 Speaker 1: Who was for this? 67 00:04:25,240 --> 00:04:27,960 Speaker 2: And not only could they not explain it, they said 68 00:04:28,040 --> 00:04:33,680 Speaker 2: they didn't realize. Suggestions are that a congressional staffer put 69 00:04:33,720 --> 00:04:37,080 Speaker 2: it in there, according to the Washington Post, to meet 70 00:04:37,120 --> 00:04:42,200 Speaker 2: a requirement that tax legislation passed through reconciliation must have 71 00:04:42,240 --> 00:04:49,360 Speaker 2: an effect on revenue. The House introduced bipartisan legislation last 72 00:04:49,360 --> 00:04:53,880 Speaker 2: week to overturn the provision. But that's not the only 73 00:04:53,920 --> 00:05:00,479 Speaker 2: reverse card being played. Household staple Uno is reportedly becoming 74 00:05:00,560 --> 00:05:02,200 Speaker 2: a Las Vegas table game. 75 00:05:03,520 --> 00:05:04,440 Speaker 1: Did you imagine? 76 00:05:05,880 --> 00:05:10,960 Speaker 2: Trump announced thirty percent tariffs on Mexico and the EU 77 00:05:11,320 --> 00:05:18,560 Speaker 2: over the last few days, which would be effective August first. 78 00:05:18,880 --> 00:05:25,919 Speaker 2: August first, thirty percent tariffs for Mexico and the EU 79 00:05:26,320 --> 00:05:30,720 Speaker 2: and more to come. The Superman reboot on the weekend 80 00:05:31,000 --> 00:05:35,680 Speaker 2: box office, which is good news for DC Universe. One 81 00:05:35,760 --> 00:05:38,800 Speaker 2: hundred and twenty two million dollars in ticket sales domestically 82 00:05:38,880 --> 00:05:42,000 Speaker 2: the third largest debut of the year, behind a Minecraft 83 00:05:42,080 --> 00:05:45,160 Speaker 2: movie and Lelo and Stitch. 84 00:05:45,880 --> 00:05:47,800 Speaker 1: Is that Leelo Orlilo? Jim? 85 00:05:47,839 --> 00:05:49,680 Speaker 2: How has it been since you've been to the movies 86 00:05:50,400 --> 00:05:53,359 Speaker 2: to see a new movie that is debuted at the 87 00:05:53,400 --> 00:05:58,640 Speaker 2: movie theater. You watched Superman this weekend? 88 00:05:58,720 --> 00:06:02,600 Speaker 1: Is it good? You left in the middle? How awful 89 00:06:02,760 --> 00:06:11,680 Speaker 1: was it? Wow? The CGI was bad? The dialogue. 90 00:06:12,120 --> 00:06:16,400 Speaker 2: I've only to my to my memory, I've only ever 91 00:06:17,400 --> 00:06:20,920 Speaker 2: gotten up and walked out of a movie one time, 92 00:06:21,680 --> 00:06:25,200 Speaker 2: and that was Tron And I think, I don't. 93 00:06:26,560 --> 00:06:27,800 Speaker 1: I don't deal well. 94 00:06:29,120 --> 00:06:30,760 Speaker 2: My kids don't like to go to the movies with 95 00:06:30,839 --> 00:06:35,880 Speaker 2: me because Dad goes into the movies, and I like 96 00:06:35,960 --> 00:06:37,720 Speaker 2: to go to like river Oaks Theater, you know, the 97 00:06:37,839 --> 00:06:41,080 Speaker 2: real comfortable they give you the blanket. People will tell 98 00:06:41,080 --> 00:06:45,599 Speaker 2: me you put that blanket on you. Oh, yes, the pillow. Yes, 99 00:06:45,760 --> 00:06:48,520 Speaker 2: I put that pillow, the blanket. I get all snug 100 00:06:48,560 --> 00:06:50,919 Speaker 2: as a bug in there, and then I get me 101 00:06:51,000 --> 00:06:54,200 Speaker 2: a bourbon and I get a couple of SIPs in 102 00:06:54,279 --> 00:06:56,039 Speaker 2: I watched the first few minutes of the movie, and 103 00:06:56,080 --> 00:06:59,679 Speaker 2: I get me a good daytime. Now that's the best feeling, 104 00:07:00,120 --> 00:07:02,640 Speaker 2: because I'm Superdad because I brought my kids to the movies. 105 00:07:02,680 --> 00:07:04,040 Speaker 2: Of course, they don't need me to take them to 106 00:07:04,120 --> 00:07:06,520 Speaker 2: movies anymore, so I don't get to do this. But 107 00:07:06,560 --> 00:07:08,560 Speaker 2: for a little while there, we'd go to whatever was 108 00:07:08,600 --> 00:07:11,640 Speaker 2: playing at river Road Theater. I would I'd be glad 109 00:07:11,680 --> 00:07:14,560 Speaker 2: to take you. It's ipis actually not Rivera Steter. I 110 00:07:14,680 --> 00:07:18,800 Speaker 2: picks over off West timor tilmenions now and I'd go 111 00:07:18,880 --> 00:07:23,080 Speaker 2: over there and uh, whatever they want, whatever, goofy. You 112 00:07:23,120 --> 00:07:26,320 Speaker 2: know movie that little boys young boys want to watch, 113 00:07:26,360 --> 00:07:28,280 Speaker 2: the Marvel Superheroes or DC. 114 00:07:28,600 --> 00:07:30,120 Speaker 1: I don't know the difference between any of them. 115 00:07:30,720 --> 00:07:33,560 Speaker 2: Get me a little bourbon, finish my bourbon. My blanket 116 00:07:33,600 --> 00:07:35,800 Speaker 2: on there, and people would say, oh, those blankets are 117 00:07:35,840 --> 00:07:39,920 Speaker 2: so nasty. They don't you don't want to listen. If 118 00:07:39,960 --> 00:07:42,560 Speaker 2: I started counting germs all day, every day, I wouldn't been. 119 00:07:42,840 --> 00:07:46,400 Speaker 2: I enjoy my little blanket. I enjoy my pillow. Don't 120 00:07:46,400 --> 00:07:49,680 Speaker 2: bother me, all right, Jim, here's your question. Coming into 121 00:07:49,680 --> 00:07:54,600 Speaker 2: the next segment. The biggest complaint from car owners of 122 00:07:54,760 --> 00:07:58,520 Speaker 2: new callings something about the console they don't see if 123 00:07:58,560 --> 00:07:59,440 Speaker 2: you can guess what it is. 124 00:07:59,800 --> 00:08:07,760 Speaker 1: I was Bodings and wants me to see it. 125 00:08:09,680 --> 00:08:12,920 Speaker 2: I will look at the outside and how it looks. 126 00:08:13,000 --> 00:08:15,160 Speaker 1: That's fine. 127 00:08:15,520 --> 00:08:18,080 Speaker 2: I will pretend to be interested in what's the under 128 00:08:18,120 --> 00:08:19,760 Speaker 2: the hood. I'm not a gearhead. 129 00:08:20,800 --> 00:08:22,880 Speaker 1: I don't know. During Fini Straight six v. 130 00:08:23,000 --> 00:08:27,160 Speaker 2: Twelve of the eight of three twenty eight three nineteen 131 00:08:27,240 --> 00:08:31,120 Speaker 2: and three fifty two or three. I mean, once they 132 00:08:31,240 --> 00:08:35,320 Speaker 2: explain it, Hey, this is better than this. Okay, fine, 133 00:08:36,520 --> 00:08:37,960 Speaker 2: and people I'll get emails. 134 00:08:37,640 --> 00:08:40,960 Speaker 1: To that I can't believe you don't know. Well, there's a. 135 00:08:40,920 --> 00:08:43,200 Speaker 2: Few things I know that you don't. Shall we have 136 00:08:43,240 --> 00:08:47,640 Speaker 2: that discussion. It's a thing that. 137 00:08:48,080 --> 00:08:49,200 Speaker 1: People care about. 138 00:08:49,280 --> 00:08:52,079 Speaker 2: A certain type of people care about more men than women. 139 00:08:52,520 --> 00:08:57,720 Speaker 2: What's under the hood, How does it perform? People will 140 00:08:57,760 --> 00:09:03,400 Speaker 2: take a brand new suburb to go see John Hennessy 141 00:09:03,559 --> 00:09:06,600 Speaker 2: because when they go to get up on the freeway 142 00:09:07,200 --> 00:09:10,280 Speaker 2: from the feeder, they don't want to have to wait. 143 00:09:10,440 --> 00:09:15,080 Speaker 2: They want some performance under the hood. And it's not 144 00:09:15,280 --> 00:09:20,360 Speaker 2: cheap ten twenty thousand dollars to give you a boost 145 00:09:20,880 --> 00:09:23,240 Speaker 2: when you're trying to speed up at a moment when 146 00:09:23,280 --> 00:09:26,400 Speaker 2: you need it. And we're not talking about performance cars. 147 00:09:26,880 --> 00:09:30,000 Speaker 2: We're talking about suburbans that hold a bunch of kids 148 00:09:30,200 --> 00:09:35,520 Speaker 2: and their gear and their baseball and lacrosse and sports gear, 149 00:09:35,679 --> 00:09:37,760 Speaker 2: or getting ready to go to the lake or the 150 00:09:37,840 --> 00:09:40,880 Speaker 2: ranch or the farm or whatever that is. I don't 151 00:09:40,880 --> 00:09:43,640 Speaker 2: really care about that. I mean, it matters. You don't 152 00:09:43,640 --> 00:09:46,400 Speaker 2: want a vehicle that you hit the gas. But that's 153 00:09:46,440 --> 00:09:49,160 Speaker 2: not what I care about. I don't go for the ride. 154 00:09:49,400 --> 00:09:52,360 Speaker 2: I've got a buddy that has a Tesla plaid. We 155 00:09:52,440 --> 00:09:54,640 Speaker 2: go for a ride in it, and he wanted me 156 00:09:54,679 --> 00:09:58,000 Speaker 2: to drive it. And he said, we get up to 157 00:09:58,040 --> 00:10:00,559 Speaker 2: a stoplight and there's nobody in any different das when 158 00:10:00,559 --> 00:10:02,640 Speaker 2: it turns green, I want you to hit it. I 159 00:10:02,679 --> 00:10:05,960 Speaker 2: already knew that's a bad idea. I'm not a need 160 00:10:06,000 --> 00:10:08,839 Speaker 2: for speed guy. I get that other people are. You're 161 00:10:08,880 --> 00:10:09,679 Speaker 2: more manly than me. 162 00:10:09,760 --> 00:10:10,959 Speaker 1: What can I say? You win? 163 00:10:11,960 --> 00:10:14,520 Speaker 2: Not something I want to do where I'm flipping over 164 00:10:14,559 --> 00:10:17,960 Speaker 2: something because a vehicle got out of control. I can 165 00:10:18,000 --> 00:10:22,360 Speaker 2: be impressed with it, and it is impressive. It's an 166 00:10:22,440 --> 00:10:26,599 Speaker 2: off the line start that I've never experienced before in 167 00:10:26,640 --> 00:10:30,840 Speaker 2: an internal combustion engine, not even close nothing. And I've 168 00:10:30,840 --> 00:10:34,880 Speaker 2: been in some pretty fast cars and come off the 169 00:10:34,920 --> 00:10:38,880 Speaker 2: line pretty fast. These things are amazing. They're just incredible. 170 00:10:40,440 --> 00:10:45,280 Speaker 2: I can appreciate the styling of a vehicle a lot. 171 00:10:45,440 --> 00:10:49,280 Speaker 2: That matters a lot to me. But in new studies 172 00:10:50,360 --> 00:10:52,680 Speaker 2: coming out over the last few years, and this year 173 00:10:52,760 --> 00:10:56,520 Speaker 2: more so than ever, the thing that has moved up 174 00:10:56,520 --> 00:11:00,800 Speaker 2: the charts from number seven to number three choice of 175 00:11:00,840 --> 00:11:06,000 Speaker 2: what bothers people most in their vehicle. And I will specify, 176 00:11:06,240 --> 00:11:09,680 Speaker 2: jim to make it simple. It is a cockpit related issue. 177 00:11:09,800 --> 00:11:11,640 Speaker 1: I like to sit in people's cockpit. All right, Let's 178 00:11:11,640 --> 00:11:12,679 Speaker 1: see what the console looks like. 179 00:11:12,760 --> 00:11:15,280 Speaker 2: Let's see what kind of storage we got in the door? 180 00:11:15,320 --> 00:11:17,760 Speaker 1: How easy to get in and out of it? Is it? 181 00:11:18,880 --> 00:11:22,200 Speaker 2: Where does everything fit in relation to me as the driver? 182 00:11:23,880 --> 00:11:29,200 Speaker 2: Can you guess what item matters the most? Jimbo The 183 00:11:29,240 --> 00:11:33,480 Speaker 2: cup holder? It is the cup holder is now the 184 00:11:33,559 --> 00:11:39,280 Speaker 2: thing that companies are spending the most time on, and 185 00:11:39,600 --> 00:11:46,359 Speaker 2: as it turns out, that is incredibly important, incredibly important. 186 00:11:46,720 --> 00:11:50,520 Speaker 2: They do a follow up study JD Power, the initial 187 00:11:50,640 --> 00:11:55,240 Speaker 2: quality study, and that's what tells a car company, this 188 00:11:55,320 --> 00:11:57,400 Speaker 2: is what people don't like about the car now that 189 00:11:57,440 --> 00:12:00,840 Speaker 2: they've bought it and driven it off the lot. AUDI 190 00:12:01,000 --> 00:12:04,800 Speaker 2: had the worst report, with two hundred and sixty nine 191 00:12:04,960 --> 00:12:12,640 Speaker 2: problems reported per one hundred vehicles. The other major issue, 192 00:12:12,760 --> 00:12:15,320 Speaker 2: and I agree with this one as well, lack of 193 00:12:15,440 --> 00:12:19,720 Speaker 2: physical buttons. Now, if you were to ask my kids 194 00:12:19,720 --> 00:12:24,880 Speaker 2: who were eighteen and nineteen, they don't have any tactile loyalty. 195 00:12:25,360 --> 00:12:29,880 Speaker 2: They don't need to turn a knob my wife's vehicle. 196 00:12:30,120 --> 00:12:34,679 Speaker 2: You turn on the air conditioning, I can't find it. 197 00:12:34,679 --> 00:12:39,840 Speaker 2: It's on a screen and then you scroll, you slide 198 00:12:40,080 --> 00:12:45,199 Speaker 2: left to right to turn the fan up. When it's hot, 199 00:12:45,960 --> 00:12:50,880 Speaker 2: when it's Houston hot and I'm driving and I'm trying 200 00:12:50,920 --> 00:12:54,400 Speaker 2: to turn the air conditioning to a higher setting or 201 00:12:54,480 --> 00:12:58,880 Speaker 2: turn the music to a lower setting, I want to 202 00:12:58,960 --> 00:13:01,840 Speaker 2: have a knob that I I can very simply grab 203 00:13:01,960 --> 00:13:08,000 Speaker 2: and turn. That's intuitive. GM vehicles, for the longest time 204 00:13:09,280 --> 00:13:12,240 Speaker 2: had a consistency, as did Mercedes for that matter, as 205 00:13:12,240 --> 00:13:15,080 Speaker 2: did Volkswagen for that matter. If you get into a 206 00:13:15,120 --> 00:13:17,640 Speaker 2: Mercedes today, I don't know if it's true today today, 207 00:13:17,640 --> 00:13:19,600 Speaker 2: but within the last couple of years, if a friend 208 00:13:19,640 --> 00:13:23,160 Speaker 2: of mine had a Mercedes, I could tell you exactly 209 00:13:23,840 --> 00:13:27,600 Speaker 2: where the seat movement was going to be. It's going 210 00:13:27,640 --> 00:13:29,800 Speaker 2: to be on the door, and it's going to be 211 00:13:29,840 --> 00:13:33,240 Speaker 2: that l shape. And what they've not changed that, I 212 00:13:33,240 --> 00:13:35,800 Speaker 2: don't know. It's thirty years they've not changed that setting. 213 00:13:36,240 --> 00:13:42,280 Speaker 2: It's consistent across their vehicles. The thought of having to slide, 214 00:13:43,040 --> 00:13:45,800 Speaker 2: and that's the whole Tesla thing. If you ask Chance McLean, 215 00:13:45,840 --> 00:13:49,120 Speaker 2: it's the greatest thing ever. He and I were riding 216 00:13:49,120 --> 00:13:53,679 Speaker 2: to the Astros game last week and I said, I 217 00:13:53,720 --> 00:13:57,080 Speaker 2: need a little more AC here, and I can't figure 218 00:13:57,120 --> 00:13:59,040 Speaker 2: out how to do it. Don't do it for me, 219 00:13:59,559 --> 00:14:01,600 Speaker 2: but give me some guidance on what we're doing. So 220 00:14:01,640 --> 00:14:05,800 Speaker 2: you look at this big, massive screen and he points 221 00:14:05,840 --> 00:14:08,120 Speaker 2: to it, and I guess you had to hover your 222 00:14:08,160 --> 00:14:10,880 Speaker 2: hand over it. And then you move this, and you 223 00:14:10,960 --> 00:14:14,320 Speaker 2: slide this, and you if I was driving, I couldn't 224 00:14:14,360 --> 00:14:19,240 Speaker 2: do that. Whereas my entire life, thirty eight years of driving, 225 00:14:21,080 --> 00:14:24,680 Speaker 2: my entire life, I could turn up the volume, down 226 00:14:24,720 --> 00:14:27,640 Speaker 2: the volume, or turn up the AC and down the AC, 227 00:14:27,720 --> 00:14:30,840 Speaker 2: which is the two things that matter the most. I 228 00:14:30,920 --> 00:14:34,760 Speaker 2: could do that without ever touching anything on a screen. 229 00:14:35,240 --> 00:14:37,840 Speaker 2: I could do that by feel, and most of you 230 00:14:37,880 --> 00:14:41,200 Speaker 2: could as well. And then and then they went from 231 00:14:41,840 --> 00:14:45,880 Speaker 2: not only that, let's you're American, you shouldn't have to 232 00:14:45,960 --> 00:14:50,640 Speaker 2: reach over and turn that. We'll just put it on 233 00:14:49,880 --> 00:14:53,680 Speaker 2: your on your steering wheel, and we'll put your adaptive 234 00:14:53,720 --> 00:14:57,680 Speaker 2: cruise control there, and we'll give you the heads up display. 235 00:14:58,280 --> 00:15:00,880 Speaker 1: You'll you'll never even be bothered to have to lean. 236 00:15:01,000 --> 00:15:03,360 Speaker 1: I'm okay with that too, Michael Berry. Just to say 237 00:15:03,360 --> 00:15:08,680 Speaker 1: the word and I'll throw it down. Christine. 238 00:15:11,080 --> 00:15:16,400 Speaker 2: In the finance world, as the Q two earnings will 239 00:15:16,440 --> 00:15:18,880 Speaker 2: be released from some of the heavyweights. 240 00:15:20,040 --> 00:15:23,800 Speaker 1: This is of course April. 241 00:15:23,480 --> 00:15:27,600 Speaker 2: May and June, it being two weeks into July. Those 242 00:15:27,840 --> 00:15:32,520 Speaker 2: reports will be released. Tomorrow. We will get earnings on 243 00:15:32,600 --> 00:15:36,119 Speaker 2: JP Morgan Chase, Black Rock, City Group, and Wells Fargo. 244 00:15:36,840 --> 00:15:40,680 Speaker 2: Then on Wednesday Goldman, Sachs, Morgan, Stanley, Bank of America, 245 00:15:41,440 --> 00:15:47,480 Speaker 2: Then on Thursday, PepsiCo, Netflix, and Abbott Laboratories, and on 246 00:15:47,600 --> 00:15:53,240 Speaker 2: Friday American Express, Charles Schwab and Truest. And the consumer 247 00:15:53,320 --> 00:16:00,000 Speaker 2: Price Index comes out tomorrow, and on Thursday we will 248 00:16:00,120 --> 00:16:04,000 Speaker 2: get the first look into retail sales for the quarter, 249 00:16:04,520 --> 00:16:09,280 Speaker 2: which should be very interesting. Indeed, all of this matters 250 00:16:10,720 --> 00:16:15,600 Speaker 2: because the argument Trump is making is we're seeing economic 251 00:16:15,720 --> 00:16:23,480 Speaker 2: activity increase without inflation, Inflation being the cost of goods 252 00:16:23,960 --> 00:16:30,040 Speaker 2: for the same dollar stabilized, simply put. And if that 253 00:16:30,240 --> 00:16:36,440 Speaker 2: is the case, increased economic activity without inflation the devaluation 254 00:16:36,520 --> 00:16:42,360 Speaker 2: of your dollar, then his argument is the interest rates 255 00:16:42,400 --> 00:16:48,120 Speaker 2: that were raised to slow or reverse inflation are no 256 00:16:48,200 --> 00:16:54,280 Speaker 2: longer needed. Bring those interest rates down quick recap. And 257 00:16:54,320 --> 00:16:58,680 Speaker 2: I know you know this. The money supply affects inflation. 258 00:16:59,720 --> 00:17:03,320 Speaker 2: If pump a bunch of money into the economy, then 259 00:17:03,520 --> 00:17:05,520 Speaker 2: the price of things are going to go up because 260 00:17:05,560 --> 00:17:09,360 Speaker 2: everybody has more money. Except it's not that everybody has 261 00:17:09,400 --> 00:17:12,879 Speaker 2: more money, it's people who borrow money have more money, 262 00:17:13,520 --> 00:17:16,920 Speaker 2: and then the people with whom the people who borrow 263 00:17:16,960 --> 00:17:20,679 Speaker 2: money spend money are going to have more money. So 264 00:17:20,720 --> 00:17:25,919 Speaker 2: in an ideal, perfect academic environment, everybody would have more money. 265 00:17:25,960 --> 00:17:30,639 Speaker 2: But we all know that's not true because the inflationary 266 00:17:30,640 --> 00:17:35,080 Speaker 2: effects hit people hardest who are on fixed income, people 267 00:17:35,080 --> 00:17:39,840 Speaker 2: who don't have an upside potential. But what we're looking 268 00:17:39,920 --> 00:17:46,320 Speaker 2: at is interest rates that are slowing the purchases of houses. 269 00:17:47,280 --> 00:17:49,400 Speaker 2: If you've got what they call a six handle, you've 270 00:17:49,400 --> 00:17:52,280 Speaker 2: got a six in front of your interest rate you're 271 00:17:52,280 --> 00:17:54,879 Speaker 2: being offered at the bank, or if you don't have 272 00:17:54,920 --> 00:17:58,680 Speaker 2: great credit, a seven handle or eight handle. It makes 273 00:17:58,760 --> 00:18:01,480 Speaker 2: buying the same two hundred and fifty thousand dollars house 274 00:18:02,160 --> 00:18:06,000 Speaker 2: cost a lot more. When we had a real estate 275 00:18:06,000 --> 00:18:08,439 Speaker 2: brokerage firm, I used to spend a lot of time 276 00:18:09,200 --> 00:18:12,480 Speaker 2: explaining to people that there are a number of factors 277 00:18:12,520 --> 00:18:18,239 Speaker 2: that go into the purchase of your home. There is 278 00:18:18,720 --> 00:18:22,159 Speaker 2: the price that the seller will offer to sell to 279 00:18:22,240 --> 00:18:26,600 Speaker 2: you at. That's the list price. Let's take three hundred 280 00:18:26,640 --> 00:18:29,800 Speaker 2: thousand dollars. If they list their house at three hundred 281 00:18:29,800 --> 00:18:34,280 Speaker 2: thousand dollars and you buy the house at their list 282 00:18:34,320 --> 00:18:38,080 Speaker 2: price of three hundred thousand dollars, what you end up 283 00:18:38,119 --> 00:18:41,679 Speaker 2: paying for that house, whether it's cash three hundred thousand 284 00:18:41,680 --> 00:18:48,040 Speaker 2: dollars or if you finance it. The longer you finance it, 285 00:18:48,080 --> 00:18:49,600 Speaker 2: the more you're going to pay an interest rate, and 286 00:18:49,640 --> 00:18:51,679 Speaker 2: typically it's going to be a higher interest rate the 287 00:18:51,720 --> 00:18:54,560 Speaker 2: longer the term. So people look at that as a 288 00:18:54,560 --> 00:18:57,800 Speaker 2: thirty year purchase. When you look at that thirty year 289 00:18:57,840 --> 00:18:59,560 Speaker 2: purchase of what three hundred thousand dollars is going to 290 00:18:59,640 --> 00:19:03,280 Speaker 2: cost you, you're going to end up paying more money 291 00:19:03,280 --> 00:19:07,080 Speaker 2: in interest than you are for the house itself, but 292 00:19:07,160 --> 00:19:10,720 Speaker 2: you're doing so over the course of thirty years. When 293 00:19:10,800 --> 00:19:13,440 Speaker 2: you look at your life, you step back and look 294 00:19:13,480 --> 00:19:16,520 Speaker 2: at what you have right now, what you make right now, 295 00:19:16,560 --> 00:19:20,359 Speaker 2: what you can afford per month right now, which is 296 00:19:20,400 --> 00:19:23,199 Speaker 2: a trick you never want to fall into. When you 297 00:19:23,240 --> 00:19:26,520 Speaker 2: look at that number, you're not getting the better scale 298 00:19:26,520 --> 00:19:31,280 Speaker 2: of your overall financial good health. If you looked at 299 00:19:31,280 --> 00:19:34,320 Speaker 2: that house over a thirty year period, assuming you stayed 300 00:19:34,320 --> 00:19:36,359 Speaker 2: there and paid it off, which nobody today does. 301 00:19:36,480 --> 00:19:38,399 Speaker 1: That's old fashioned. My parents did that. 302 00:19:39,119 --> 00:19:41,320 Speaker 2: But when you look at that house for thirty years 303 00:19:41,320 --> 00:19:43,520 Speaker 2: and what it's going to cost you, and you look 304 00:19:43,560 --> 00:19:46,520 Speaker 2: at what you're going to make over those thirty years, now, 305 00:19:46,560 --> 00:19:51,160 Speaker 2: you're getting more of an apples to apples comparison. Because 306 00:19:51,200 --> 00:19:53,359 Speaker 2: if you're thinking of that three hundred thousand dollars house, 307 00:19:53,400 --> 00:19:54,959 Speaker 2: as I'm going to pick some number, I don't run 308 00:19:55,000 --> 00:19:57,680 Speaker 2: the number lately as twenty five hundred dollars or two 309 00:19:57,680 --> 00:20:01,440 Speaker 2: thousand dollars per month, and you go, I can afford 310 00:20:01,440 --> 00:20:03,520 Speaker 2: two hundred thousand dollars I mean two thousand dollars per 311 00:20:03,560 --> 00:20:07,560 Speaker 2: month for how long? What if that same house that 312 00:20:07,760 --> 00:20:10,679 Speaker 2: you buy for three hundred thousand dollars, what if the 313 00:20:10,720 --> 00:20:16,240 Speaker 2: interest rate drops sufficiently that on a thirty year mortgage, 314 00:20:16,520 --> 00:20:19,439 Speaker 2: instead of costing you two thousand dollars a month, it 315 00:20:19,520 --> 00:20:23,040 Speaker 2: costs you fourteen hundred dollars a month. That's six hundred 316 00:20:23,040 --> 00:20:25,919 Speaker 2: dollars a month, seventy two hundred dollars a year. The 317 00:20:26,000 --> 00:20:30,000 Speaker 2: house didn't change in order to get your note five 318 00:20:30,119 --> 00:20:34,199 Speaker 2: six hundred dollars lower. They didn't change out the doors 319 00:20:34,240 --> 00:20:37,520 Speaker 2: to make them cheaper. They didn't rip out the landscaping. 320 00:20:38,400 --> 00:20:43,560 Speaker 2: They didn't replace the higher quality windows or remove the garage. 321 00:20:44,280 --> 00:20:48,560 Speaker 2: It's still the same exact house. So the flip side 322 00:20:48,600 --> 00:20:51,240 Speaker 2: of that is, if you bought at a better interest 323 00:20:51,320 --> 00:20:54,679 Speaker 2: rate and now you were to try to ref at 324 00:20:54,720 --> 00:20:57,119 Speaker 2: a higher interest rate, you wouldn't change your house. You 325 00:20:57,119 --> 00:21:02,560 Speaker 2: would just pay more money, so nobody can refin. Well, 326 00:21:02,600 --> 00:21:04,080 Speaker 2: you got a lot of people that are in an 327 00:21:04,200 --> 00:21:06,679 Speaker 2: arm an adjustable rate mortgage, and you may be in 328 00:21:06,720 --> 00:21:14,240 Speaker 2: one of those. An adjustable rate mortgage is is an 329 00:21:14,320 --> 00:21:17,080 Speaker 2: easy trick to fall into, and it's not always a 330 00:21:17,080 --> 00:21:21,000 Speaker 2: bad thing, just as pawn shops and money lenders and 331 00:21:21,600 --> 00:21:26,000 Speaker 2: check cashing places are not always bad things. People will say, 332 00:21:26,560 --> 00:21:30,560 Speaker 2: we ought to do away with check cashing places because 333 00:21:30,560 --> 00:21:32,159 Speaker 2: they charge twenty nine percent interest. 334 00:21:32,560 --> 00:21:37,080 Speaker 1: All right, who uses a check cashing place? Do you? Oh? 335 00:21:37,200 --> 00:21:40,600 Speaker 2: Hell no, I'm not paying twenty nine percent interest on 336 00:21:41,240 --> 00:21:45,000 Speaker 2: a loan that you know, on a thousand dollars you 337 00:21:45,000 --> 00:21:51,160 Speaker 2: know loan. Okay, So you wouldn't pay twenty nine percent 338 00:21:52,119 --> 00:21:54,520 Speaker 2: on a check that you're planning on getting in a 339 00:21:54,560 --> 00:22:00,000 Speaker 2: few days. Why because the rate's too high? No, because 340 00:22:00,040 --> 00:22:03,959 Speaker 2: because you don't need that amount of money that desperately 341 00:22:04,600 --> 00:22:06,600 Speaker 2: that sensitive to time. 342 00:22:08,600 --> 00:22:11,400 Speaker 1: If you did, you would do it. 343 00:22:12,720 --> 00:22:18,040 Speaker 2: We reduce ourselves to things like that because we are 344 00:22:18,080 --> 00:22:25,399 Speaker 2: in danger an emergency. Nobody willingly says, I want to 345 00:22:25,400 --> 00:22:30,040 Speaker 2: get a really really bad deal. People that have horrible 346 00:22:30,080 --> 00:22:34,080 Speaker 2: credit and need cash fast fast do so. You're sitting 347 00:22:34,119 --> 00:22:36,280 Speaker 2: in Austin and you go, well, we shouldn't allow them 348 00:22:36,320 --> 00:22:40,200 Speaker 2: to do that. Those rates are too high. In fact, 349 00:22:40,240 --> 00:22:42,600 Speaker 2: we ought to put the check cashing places out of business. 350 00:22:42,800 --> 00:22:45,879 Speaker 2: That's fine, let's do that. So when there's not a 351 00:22:46,000 --> 00:22:49,919 Speaker 2: check cashing place on every block in poor neighborhoods, do 352 00:22:49,960 --> 00:22:52,200 Speaker 2: you think people all of a sudden no longer need 353 00:22:52,280 --> 00:22:57,120 Speaker 2: cash real fast because they're no longer in emergencies? Do 354 00:22:57,160 --> 00:23:01,679 Speaker 2: they now just wait around and that their money. That 355 00:23:01,880 --> 00:23:03,680 Speaker 2: was a dumb thing to do, to take a twenty 356 00:23:03,760 --> 00:23:08,439 Speaker 2: nine percent interest on a small amount of money. That 357 00:23:08,640 --> 00:23:11,439 Speaker 2: was real dumb. If we don't let them do dumb things, 358 00:23:11,640 --> 00:23:14,520 Speaker 2: then they won't do dumb things. In many cases, they 359 00:23:14,520 --> 00:23:17,480 Speaker 2: didn't do dumb things because it was dumb. They did 360 00:23:17,680 --> 00:23:21,720 Speaker 2: dumb things because they were in an emergency. So take 361 00:23:21,720 --> 00:23:24,640 Speaker 2: away the ability for them to do that legally, and 362 00:23:24,640 --> 00:23:27,919 Speaker 2: now what do they do? They still need the money 363 00:23:28,520 --> 00:23:31,480 Speaker 2: they're still in an emergency. So now they go to 364 00:23:31,520 --> 00:23:34,720 Speaker 2: loan sharks, Now they go to Mafiosis, Now they go 365 00:23:34,760 --> 00:23:37,760 Speaker 2: to the cartels. If this is how bad bills are 366 00:23:37,800 --> 00:23:41,399 Speaker 2: passed to try to make decisions for people that we 367 00:23:41,560 --> 00:23:43,360 Speaker 2: don't agree with without. 368 00:23:43,160 --> 00:23:45,560 Speaker 1: Understanding that they're going to go around that. 369 00:23:45,480 --> 00:23:47,880 Speaker 2: Low and it's going to be far worse for them. 370 00:23:48,359 --> 00:23:53,280 Speaker 2: I may Mispronocean, it's in the spirit of what is right. 371 00:23:53,560 --> 00:23:54,560 Speaker 1: There is a fellow. 372 00:23:54,440 --> 00:23:57,240 Speaker 2: By the name of Bob Reehack or Rehawk. I don't 373 00:23:57,280 --> 00:24:04,959 Speaker 2: know r Ehak, I'll say Rehack, and he operates a 374 00:24:05,000 --> 00:24:15,119 Speaker 2: website called Reduced Flooding dot com reduce Flooding dot com. 375 00:24:15,200 --> 00:24:20,240 Speaker 2: Several people over the years have recommended I talked to him, 376 00:24:20,280 --> 00:24:26,439 Speaker 2: Marissa Hanson. Bob showed a number of you have sent me. 377 00:24:26,560 --> 00:24:31,000 Speaker 2: I got two emails this morning. He is described as 378 00:24:31,520 --> 00:24:41,400 Speaker 2: a retired Kingwood resident, but my understanding is that he 379 00:24:41,600 --> 00:24:53,280 Speaker 2: has a specialized experience base of flooding engineering and maybe 380 00:24:53,320 --> 00:25:01,359 Speaker 2: government documents. There are so many great re sources out 381 00:25:01,359 --> 00:25:07,800 Speaker 2: there of people like this guy who for no personal 382 00:25:07,920 --> 00:25:16,720 Speaker 2: gain because they are completely nerdy, dorky do gooder accountability people. 383 00:25:17,720 --> 00:25:22,720 Speaker 2: They're always engineers or accountants and they will spend untold 384 00:25:22,960 --> 00:25:29,360 Speaker 2: number of hours digging through government documents, and they always 385 00:25:29,400 --> 00:25:33,520 Speaker 2: catch the politicians because the politicians don't actually know what 386 00:25:33,640 --> 00:25:36,040 Speaker 2: last year's budget had in it, much less ten years ago. 387 00:25:36,720 --> 00:25:39,480 Speaker 2: The politicians don't read any of the reports that are 388 00:25:39,520 --> 00:25:44,000 Speaker 2: generated that are then put through the pr ringer to say, 389 00:25:44,760 --> 00:25:48,840 Speaker 2: you know, make it all sound great, And so when 390 00:25:48,920 --> 00:25:52,639 Speaker 2: they're when nothing ever happens as a result of money 391 00:25:52,680 --> 00:25:59,600 Speaker 2: that is spent on public problems, nobody has the assets 392 00:26:00,240 --> 00:26:07,240 Speaker 2: to question elected officials. But then you get guys like 393 00:26:07,960 --> 00:26:11,480 Speaker 2: this Bob Rehack or Bob Shot or Marissa Hanson. There 394 00:26:11,480 --> 00:26:16,840 Speaker 2: are plenty of others, and they're the greatest enemy to 395 00:26:17,000 --> 00:26:20,680 Speaker 2: them being able to do any good is a lack 396 00:26:20,720 --> 00:26:28,920 Speaker 2: of awareness that they exist. An enterprising reporter should should 397 00:26:29,000 --> 00:26:34,080 Speaker 2: get right up next to this Rehack fella and say, hey, 398 00:26:34,440 --> 00:26:37,320 Speaker 2: how about this. I love what you're doing. Can you 399 00:26:37,400 --> 00:26:41,200 Speaker 2: feed me what you're doing and I'll talk about it 400 00:26:42,840 --> 00:26:46,399 Speaker 2: and do story after story after story after story. My 401 00:26:46,600 --> 00:26:55,399 Speaker 2: understanding is this over eight thousand dollars in expenditure from 402 00:26:55,720 --> 00:26:59,120 Speaker 2: from Peterson, the woman at the flood Control District, that 403 00:26:59,119 --> 00:27:03,400 Speaker 2: that was a result of Bob Rehack making that information 404 00:27:03,560 --> 00:27:07,960 Speaker 2: available to some people. I have tried to get him 405 00:27:08,000 --> 00:27:10,720 Speaker 2: on the show as a guest. 406 00:27:10,800 --> 00:27:12,879 Speaker 1: I don't know if he's ill ready. 407 00:27:12,880 --> 00:27:15,879 Speaker 2: And some people are great with the written content but 408 00:27:16,200 --> 00:27:19,240 Speaker 2: sees up when they have to speak into a microphone. 409 00:27:19,320 --> 00:27:21,040 Speaker 1: I don't know, but I. 410 00:27:21,000 --> 00:27:27,360 Speaker 2: Will tell you that his stuff. Here's one revised Harris 411 00:27:27,400 --> 00:27:33,359 Speaker 2: County Flood Control District report still contains discrepancies totaling hundreds 412 00:27:33,400 --> 00:27:38,119 Speaker 2: of millions of dollars. Harris County Flood Control District admits 413 00:27:38,119 --> 00:27:40,040 Speaker 2: that it made a huge mistake in its twenty twenty 414 00:27:40,040 --> 00:27:42,000 Speaker 2: five first quarter flood bond update. 415 00:27:42,080 --> 00:27:43,080 Speaker 1: Released two weeks ago. 416 00:27:43,560 --> 00:27:48,800 Speaker 2: The report showed accounting discrepancies totally more than a billion dollars. 417 00:27:49,880 --> 00:27:52,399 Speaker 2: As a result of media attention, the district released a 418 00:27:52,520 --> 00:27:58,040 Speaker 2: revised Q one report late yesterday afternoon. Oops, we missed 419 00:27:58,119 --> 00:28:03,520 Speaker 2: a billion dollars. I'm sure Rodney nor anyone else stole 420 00:28:03,880 --> 00:28:07,879 Speaker 2: any of it or handed it to their friends, But 421 00:28:08,000 --> 00:28:11,159 Speaker 2: many discrepancy still remained, both within the revised report itself 422 00:28:11,200 --> 00:28:14,080 Speaker 2: and when comparing the revised report to the twenty twenty 423 00:28:14,119 --> 00:28:19,080 Speaker 2: four year in report. What a quaint notion. Some guy 424 00:28:19,160 --> 00:28:25,000 Speaker 2: sitting at his house in Kingwood compares last year's document 425 00:28:25,560 --> 00:28:29,840 Speaker 2: to this year's document and says, uh, the ledger doesn't 426 00:28:29,840 --> 00:28:33,959 Speaker 2: add up. Oh well, none of those numbers matter anyway, 427 00:28:34,160 --> 00:28:38,160 Speaker 2: Why are you bothering us? Bond funds one hundred seven 428 00:28:38,200 --> 00:28:43,400 Speaker 2: million partner funds, two hundred and eighty nine million secured funds, 429 00:28:43,440 --> 00:28:46,480 Speaker 2: three hundred and seventy million funds spent two hundred and 430 00:28:46,480 --> 00:28:52,320 Speaker 2: fifty two million HCFCD. Harris County Flood Control District also 431 00:28:52,360 --> 00:28:56,640 Speaker 2: claims to put five hundred four million dollars bond dollars 432 00:28:56,680 --> 00:28:59,040 Speaker 2: to work in the first three months of this year 433 00:28:59,520 --> 00:29:02,560 Speaker 2: without a explaining where the money went, Nor does the 434 00:29:02,600 --> 00:29:06,720 Speaker 2: revised report explain what the director, doctor T. Peterson, claims 435 00:29:06,960 --> 00:29:10,760 Speaker 2: is a one point three billion dollar shortfall in funding 436 00:29:11,200 --> 00:29:16,240 Speaker 2: needed to complete the bond. So do you think a 437 00:29:16,320 --> 00:29:21,560 Speaker 2: woman who asked for over eight thousand dollars to go 438 00:29:21,680 --> 00:29:28,040 Speaker 2: to a conference where even the basic report showed you 439 00:29:28,160 --> 00:29:31,479 Speaker 2: could go, not that you needed to for less than 440 00:29:31,480 --> 00:29:35,160 Speaker 2: two thousand dollars? Do you think she should be trusted 441 00:29:36,120 --> 00:29:37,360 Speaker 2: with billions of dollars? 442 00:29:37,480 --> 00:29:38,160 Speaker 1: Because she is. 443 00:29:40,160 --> 00:29:43,480 Speaker 2: And the only thing worse than that is that this 444 00:29:43,560 --> 00:29:49,160 Speaker 2: person is being trusted with billions of dollars and is 445 00:29:49,200 --> 00:29:55,400 Speaker 2: not accountable and is getting the numbers off by more 446 00:29:55,440 --> 00:29:59,880 Speaker 2: than a billion dollars in one year, and no buy 447 00:30:00,200 --> 00:30:05,240 Speaker 2: he's noticing if this fellow bob Rehack in Kingwood doesn't 448 00:30:05,280 --> 00:30:09,680 Speaker 2: bring it up. So what if bob Rehack doesn't exist, 449 00:30:11,600 --> 00:30:18,840 Speaker 2: or let's model this out. What if bob Rehack exists 450 00:30:18,920 --> 00:30:25,040 Speaker 2: but nobody listens to what he writes, Or if bob Rehack, 451 00:30:25,080 --> 00:30:33,240 Speaker 2: who's focused on flooding, can expose a billion dollars missing 452 00:30:33,320 --> 00:30:36,720 Speaker 2: from just the Harris County Flood Control District. You don't 453 00:30:36,760 --> 00:30:38,760 Speaker 2: know who the flood control District is, and. 454 00:30:38,800 --> 00:30:39,360 Speaker 1: Neither do I. 455 00:30:41,000 --> 00:30:46,080 Speaker 2: Nobody does, nobody at the Chronicle, does nobody at ABC thirteen, 456 00:30:46,200 --> 00:30:52,560 Speaker 2: khou KPRC. Not because they're bad people, because there's a 457 00:30:52,600 --> 00:30:58,040 Speaker 2: lot going on. There's money floating around everywhere, and there 458 00:30:58,040 --> 00:31:01,080 Speaker 2: are people who are very I watched it on City Council. 459 00:31:01,880 --> 00:31:06,200 Speaker 2: I watched it in frustration and in awe. There are 460 00:31:06,360 --> 00:31:10,880 Speaker 2: people whose job it is they're kind of a cross 461 00:31:10,960 --> 00:31:17,120 Speaker 2: between a consultant and an operative, and they've generally worked 462 00:31:17,160 --> 00:31:22,760 Speaker 2: for in government and out of government. They contribute to campaigns, 463 00:31:23,320 --> 00:31:28,000 Speaker 2: they serve on some boards, and these people move in 464 00:31:28,360 --> 00:31:32,680 Speaker 2: and out of public and private sector, and they have 465 00:31:32,800 --> 00:31:36,080 Speaker 2: relationships with the companies who do the work where they do, 466 00:31:36,160 --> 00:31:41,800 Speaker 2: whether that be the financing or the engineering, or the 467 00:31:41,920 --> 00:31:47,760 Speaker 2: architectural or the governmental compliance. And there's billions and billions 468 00:31:47,800 --> 00:31:51,880 Speaker 2: of your dollars. And the sad part is all they 469 00:31:51,920 --> 00:31:55,400 Speaker 2: care about is how much they can scoop away for 470 00:31:55,600 --> 00:32:00,640 Speaker 2: them and their friends, not the actual services rendered. And 471 00:32:00,720 --> 00:32:03,120 Speaker 2: that's why when you see a hurricane Harvey and you go, 472 00:32:03,600 --> 00:32:07,440 Speaker 2: how in the hell did this happen? We spent so 473 00:32:07,520 --> 00:32:12,479 Speaker 2: many billion dollars avoiding this happening. No, you didn't spend 474 00:32:12,520 --> 00:32:15,840 Speaker 2: billions of dollars avoiding a damn thing other than them 475 00:32:15,880 --> 00:32:21,960 Speaker 2: people going poor. The money is not spent with any 476 00:32:22,080 --> 00:32:24,560 Speaker 2: regard for stopping that level