Speaker 1: I don't think you applying yourself, Smoky. I'm gonna go
Speaker 1: ahead and let you calibrate your brain as to where
Speaker 1: that's from.
Speaker 2: I think you know.
Speaker 1: If you don't, you're probably a lot younger than I am.
Speaker 1: But even if you are, that a lot younger than
Speaker 1: I am. I mean, it's a big pern, I mean,
Speaker 1: big Worm. These are very important moments if you don't know.
Speaker 1: It's the central plot line of Friday, you know, with
Speaker 1: Chris Tucker and Ice Cube, and Chris Tucker was supposed
Speaker 1: to sell out his weed, but instead of selling the weed,
Speaker 1: he smoked it. And he who he got it from
Speaker 1: is brother named Big Worm, who had a big pern.
Speaker 1: And at some point big Worm pulled up in one
Speaker 1: of his money but Smoke he ain't had the money.
Speaker 1: So then big Worm was like, okay, well, then give
Speaker 1: me my weed. Smoke ain't had that because he's smoked it,
Speaker 1: and he was saying, listen, messing with my money is
Speaker 1: like messing with my emotions. And he basically explains to
Speaker 1: him that by the end of the day or this movie,
Speaker 1: if you don't have my money or my weed, I'm
Speaker 1: coming over here and I'm killing everybody.
Speaker 2: You got to pay your debt.
Speaker 1: Right now, who is smoky in this scenario is the
Speaker 1: US federal government. We got to talk about the debt
Speaker 1: hood politics, y'all. I don't think you applying yourself smoky,
Speaker 1: oh man. Such an iconic time for movies, especially like
Speaker 1: black cinema. Shout out to John Singleton man Rest in peace,
Speaker 1: his last creation before he passed. Well John Singleton, First
Speaker 1: of all, he didn't direct Friday That's Ice Cube, but
Speaker 1: just classic black film from the nineties, Boys in the Hood,
Speaker 1: Poetic Justice, and then his last one was the series FX,
Speaker 1: a series.
Speaker 2: On FX called Snowfall South Central Legend.
Speaker 1: Anyway, what a time man, we had, you know, Friday
Speaker 1: next Friday, Friday after next, you had Above the Rim,
Speaker 1: you had just Poetic Justice, just these amazing like you know,
Speaker 1: black nineties, like loving basketball, all of it right, just
Speaker 1: the wood yo, like Stella got a groove back, set
Speaker 1: it off. You know, man, what a time. And I
Speaker 1: mean our parents, at least my parents. You know, they
Speaker 1: had the seventies blaxploitation films. You know, that was around
Speaker 1: a time you know they sort of black you know legends.
Speaker 1: Let's see, I remember my father made me watch this
Speaker 1: show called this movie called a Hero Ain't nothing.
Speaker 2: But a sandwich.
Speaker 1: It's about drug dealing and getting hooked on drugs from
Speaker 1: the seventies.
Speaker 2: Anyway, I'm off topic.
Speaker 1: I bring up Friday and I bring up Smokey because
Speaker 1: the central plot of the film is really paying a debt.
Speaker 1: You know, somebody front you to work and you're supposed
Speaker 1: to sell to work and then pay you know back
Speaker 1: what you owe plus their percentage, right, I mean, it's
Speaker 1: the simplest way to think about our financial credit system.
Speaker 1: There are two really dope podcasts out right now. Ones
Speaker 1: like it was a couple of weeks back from based
Speaker 1: on when you're hearing this, one was, you know, from
Speaker 1: our homies at even More News, the Cody Shody. I
Speaker 1: adored him. I really like them. They are white as hell,
Speaker 1: you know what I'm saying. It's like, I just they
Speaker 1: just make me smile.
Speaker 2: I just enjoy them.
Speaker 1: He's got to show about the history of credit score
Speaker 1: and ecofax and Fiico and it's really dope, man. It's
Speaker 1: It's like they actually cover a lot of stuff that
Speaker 1: would serve as a good deep dive into kind of
Speaker 1: what I'm gonna talk about. And then also through Line
Speaker 1: on NPR they have one about the history of the
Speaker 1: credit score too, that's a little more serious and journalistic
Speaker 1: at Cody and them at the some more news you
Speaker 1: know spot. It's comedy, but it's like to make the
Speaker 1: medicine go down. So if you haven't, I'm pretty sure
Speaker 1: if you listen to the show, you listen to that show,
Speaker 1: like that's the that's the circle. I mean, unless you
Speaker 1: came into this circle because you were a fan of me,
Speaker 1: then you ain't heard of them anyway. That's a more
Speaker 1: deep dive, but basically, if you don't know, countries have
Speaker 1: credit scores also, And what I want to do today
Speaker 1: is I'm pretty sure you've been hearing all over the
Speaker 1: news for the last month or two about the debt ceiling,
Speaker 1: and America's never defaulted on their loans. We have always
Speaker 1: paid our debts, which was always curious to me because
Speaker 1: I was like, well, don't we make our own money? Like,
Speaker 1: who the hell is we borrowing from? They was like
Speaker 1: the National Treasury. I was like, isn't that the US government?
Speaker 1: Like is you not borrowing money from yourself? I don't understand.
Speaker 1: Don't you collect taxes? Don't the taxes go to the government,
Speaker 1: well the taxes, like what how who are.
Speaker 2: You borrowing money? Are you borrowing from other countries?
Speaker 1: Don't you think that that's like a Ain't that like
Speaker 1: a national security issue?
Speaker 2: Like why would I borrow?
Speaker 1: You know what I'm saying, because I'm like, why is
Speaker 1: what stops every country from being like big worm? You
Speaker 1: know what I'm saying? Then what the hell is our
Speaker 1: taxes for? If you borrowing? Like what the hell wrong
Speaker 1: with your budget? And then they way they talk about
Speaker 1: approving budgets, I'm like, didn't you approve a budget three
Speaker 1: months like earlier this year, like six months ago?
Speaker 2: Well?
Speaker 1: I thought you approved a budget, and if you know
Speaker 1: what we spending, did y'all not stick to the Ain't
Speaker 1: that your job to stick to the budget?
Speaker 2: I don't understand what the hell is you borrowing?
Speaker 1: Didn't you already say what we was gonna spend and
Speaker 1: didn't we already spend it? Like I don't understand what
Speaker 1: is I don't So did we borrow? Did we borrow
Speaker 1: the weed and smoke it? Like?
Speaker 2: Are we smoking?
Speaker 1: Like what happened? Did we just like agree on a price?
Speaker 1: And then the bill came and was like I ain't
Speaker 1: got it? What like, I don't want to pay that
Speaker 1: much digging like, that's how much? I don't already done
Speaker 1: the thing? And I told you how much it was.
Speaker 1: I don't understand. Did you not check for your overdraft fees?
Speaker 1: Is you gonna swipe your card? It ain't gonna be there.
Speaker 1: That's what I want to talk about right now, because
Speaker 1: it ain't make sense to meet neither. I'm like, I
Speaker 1: thought you already said what we was gonna spend and
Speaker 1: then you already spend it. Now you got to approve
Speaker 1: us paying back what you said we was gonna spend.
Speaker 2: What is you talking about? Government?
Speaker 1: Sound like my daughter. This was a few years back.
Speaker 1: Luckily she don't listen to none of this. She was
Speaker 1: just daydreaming about her future and one day getting a job,
Speaker 1: and she was like, you know, hey, when I get
Speaker 1: a job, I'm just going to what I'll do is
Speaker 1: I think I'll save my allowance and then I'll kind
Speaker 1: of like spend, you know, the money I get from
Speaker 1: my job. And I was like, well, hold on there, sweetheart,
Speaker 1: can you think of.
Speaker 2: Why I had to pump the brakes? Onder y'all, sweetie,
Speaker 2: we not go okay?
Speaker 1: If you don't get this, baby, I'm not gonna give
Speaker 1: you an allowance no more.
Speaker 2: She was flabbergasted. What I was like, first.
Speaker 1: Of all, I don't think you should get allowance at
Speaker 1: all for chores. The nigga, you live here, You're gonna
Speaker 1: have to do them anyway. So what am I paying
Speaker 1: you for? You live here, I'll pay you for the
Speaker 1: extra I'll pay you for the things for the peace
Speaker 1: of mind and not having to worry about stuff. The nigga,
Speaker 1: you don't get it. You have a job. Why would
Speaker 1: we keep paying you an allowance if you have a job.
Speaker 1: She was like, wait, wait, wait, does mom notice? And
Speaker 1: I was like, are you are you kidding me? Right now?
Speaker 2: There's nothing to discuss. She's like, wait, we need to discuss.
Speaker 2: Like no, no, no, no, no no no no no
Speaker 2: no no no no no no no no no no
Speaker 2: no no no no no no, sweetheart, that's not how
Speaker 2: it works.
Speaker 1: I just got to feel like as of the government
Speaker 1: be doing the government's like, okay, so I'm gonna take
Speaker 1: your taxes and then I'm gonna get money from other
Speaker 1: people and then I'm gonna borrow some more. Like wait, wait,
Speaker 1: hold up, what I don't understand this, don't You don't
Speaker 1: you don't. You don't make sense to me, right, So
Speaker 1: I'm gonna talk about what they talking about. Help you
Speaker 1: at least get your brain around a little bit of
Speaker 1: what's going on and why it was such a big deal.
Speaker 1: And in the middle of that dropped some gems is
Speaker 1: to like, here are some good practices with your own finances. Now,
Speaker 1: I am no wealth influencer by no means, you know,
Speaker 1: but I'm gonna use my hood antennas things that I've
Speaker 1: learned and practices that I've learned to apply in my
Speaker 1: own life, like you know, on like just like the
Speaker 1: other how much of dollar cost episodes, whereas it's like, look,
Speaker 1: I may not know all the terms, but and you
Speaker 1: may not know all the terms and the big words,
Speaker 1: but you understand it. You understand exactly what Smoky and
Speaker 1: Worm's issue was. Better have my money?
Speaker 2: All right, let's talk about it here we go.
Speaker 1: Okay, So I'm going to back up way far here,
Speaker 1: not to insult your intelligence, but again just to remind
Speaker 1: you that you actually understand this stuff. So let me
Speaker 1: back up. Lending and borrowing money. Okay, what sucks about
Speaker 1: the world that we built? This this universe that we built
Speaker 1: is like, if you just paid cast for everything, it
Speaker 1: actually would call you like debt invisible, and that would
Speaker 1: suck for you. It would make you make it much
Speaker 1: harder for you to buy a house, get a car,
Speaker 1: all these different things. It actually hurts you unless you're
Speaker 1: independently wealthy and you actually do have a billion dollars
Speaker 1: liquid in your bank account that you could actually pay casts.
Speaker 2: And it don't matter. Once you hit a certain amount
Speaker 2: of money, it don't matter.
Speaker 1: But for the rest of us who don't got that,
Speaker 1: you being responsible and not getting in debt can punish you.
Speaker 1: It's absurd, but it's the world we're in. So in
Speaker 1: the simplest terms, your cousin, your uncle, say, nephew, baby
Speaker 1: girl or baby girl, come here, Hey, let me hold
Speaker 1: twenty dollars till tuesday. Now, let me ask you something.
Speaker 1: What is your process of seeing as if whether you
Speaker 1: should give this uncle or cousin that twenty dollars. Here's
Speaker 1: a few things that I've learned in my life. I
Speaker 1: don't loan out what I'm not willing to give, and
Speaker 1: especially to which particular family member. If I know this
Speaker 1: family member ain't really good for it. I'm like that,
Speaker 1: I'm gonna chalk that twenty dollars up as a loss.
Speaker 1: You ain't gonna I just love I look, I love
Speaker 1: your uncle.
Speaker 2: I'm just look. You know you pay me back.
Speaker 1: I'm say pay me back, but I don't expect right
Speaker 1: because that's just who he is. You understand what I'm
Speaker 1: saying like that, so maybe that should be your grit.
Speaker 1: Do you trust this person? Is this person really gonna
Speaker 1: pay you bet? Does this person have a track record
Speaker 1: of asking you and saying he gonna hold it till Tuesday?
Speaker 1: You understand I'm saying. And then on Tuesday, is you
Speaker 1: chasing this nigga down? If you are, you be like,
Speaker 1: I ain't got it today, un I'm sorry. You know
Speaker 1: what I'm saying, Come on you pro care's nigga. It's like, well,
Speaker 1: I mean you the one borrowing from me, Like I
Speaker 1: don't know which one of them nigga.
Speaker 2: I'm good. I'm good for it, you know what I'm saying, Like,
Speaker 2: I look, I get you on Tuesday.
Speaker 1: If you don't trust this niggas like sometimes you have
Speaker 1: to be like, okay, put some on it. Show me
Speaker 1: that you're gonna get me back on Tuesday, or at
Speaker 1: least give me like five on Tuesday.
Speaker 2: You can have till Friday.
Speaker 1: Just give me something, right, And if anything, it's not
Speaker 1: so much you worried about that twenty dollars, it's it's
Speaker 1: that I need you to keep your word.
Speaker 2: That's what you said you was gonna do.
Speaker 1: And if I'm ever gonna borrow from you again, or
Speaker 1: I'm ever gonna let you borrow from me again, like nigga,
Speaker 1: I'm not finna do that. But listen, the first thing
Speaker 1: is like, look, man, don't loan no money you're not
Speaker 1: willing to give. You know that you can't afford to lose.
Speaker 1: That's that's you on the thing. Now, if you borrowing,
Speaker 1: you shouldn't borrow something that you can't pay back because
Speaker 1: it's gonna be on your back forever. And then there's
Speaker 1: this thing called which you're grown ups, called interest. Right,
Speaker 1: So gives me to the point, which is like lending
Speaker 1: money is a business, Like it's clearly right, and for
Speaker 1: it to be a business, there has to be a
Speaker 1: way to make money. If I loan you one hundred dollars,
Speaker 1: if I'm a business, I give you a hundred dollars,
Speaker 1: I loan you one hundred dollars and you just pay
Speaker 1: me back one hundred dollars. What a stupid business plan.
Speaker 1: I need a way to make money off this, So
Speaker 1: I need to charge you for letting you borrow money
Speaker 1: from me. Like this is a service I'm giving you,
Speaker 1: and for me to stay in business, I got to
Speaker 1: make money off this loan.
Speaker 2: Right.
Speaker 1: That's where it comes into things called predatory loans, which
Speaker 1: is like I'm looking for you that are struggling, that
Speaker 1: are tight right now, and I'm like, all right, you
Speaker 1: need one hundred dollars. I got you, you know what
Speaker 1: I'm saying, but you gotta pay me back plus like
Speaker 1: you know, fifty percent interest. Fifty percent interest is absurd,
Speaker 1: So like that's if you paid me back the one
Speaker 1: hundred dollars right when I gave it to you, it
Speaker 1: would be one hundred and fifty bucks. But if it's
Speaker 1: fifty percent interest, it's fifty percent interest per payment. So
Speaker 1: if you borrow hundred dollars from me, and I'm like,
Speaker 1: I'm charging you fifty percent interest. So every time you
Speaker 1: paid me twenty bucks, you got to remember, fifty dollars
Speaker 1: got added to your ending balance every time, because it's
Speaker 1: fifty percent interest. So if that's the case, if you
Speaker 1: only paying me twenty dollars, you still haven't paid none
Speaker 1: of the principal, right, So that means you could be
Speaker 1: paying off that you end up paying one thousand dollars
Speaker 1: on that one hundred dollars, right because of the way
Speaker 1: the interest works, and because you had to maintain your
Speaker 1: own finances. I mean, that's why it's called predatory, you
Speaker 1: feel me. So lending is a business, and the way
Speaker 1: to gain the system is to always make sure, okay,
Speaker 1: don't borrow what you can't afford, to pay back and
Speaker 1: pay back quickly, right, So for your credit cards and
Speaker 1: stuff like that, when you just to pay back minimums,
Speaker 1: you know that basically that means you're gonna be in
Speaker 1: debt for the rest of your life, you feel me.
Speaker 1: And you're gonna pay like thousands and thousands and thousands
Speaker 1: of dollars more than and what you actually borrowed. That's
Speaker 1: why foods, that's why you get the stuff in the
Speaker 1: mail of like, yo, you've been approved for thirty thousand.
Speaker 2: Dollars, you know what I'm saying.
Speaker 1: It's like, nigga, you're gonna be paying hundreds of thousands
Speaker 1: of dollars back to the like, don't ever like throw
Speaker 1: that shit away. Don't borrow what you can't A lot
Speaker 1: of a lot of times. You know a lot of
Speaker 1: people do too. This is just good money stuff. Is
Speaker 1: like when your check, you know you, it turns out
Speaker 1: you got more month than you do check.
Speaker 2: You feel me.
Speaker 1: So at the end of the last few days of
Speaker 1: the month, when you're trying to go get gas, you
Speaker 1: just put that on your credit card. You set yourself
Speaker 1: up because that's money. You don't have you spending money
Speaker 1: that's not yours. You understand I'm saying. And now you
Speaker 1: you chunking into your next check already because you're gonna
Speaker 1: have to pay that back, you feel me. So what
Speaker 1: are you supposed to do with that? Will you create
Speaker 1: a budget? Right now? I'm saying this in a time
Speaker 1: where the cost of living is absurd and sticky to
Speaker 1: a budget almost means you're gonna have to choose between
Speaker 1: eating and rent. I understand that, you know so, so
Speaker 1: trust me. I know that's that's what I'm talking about.
Speaker 1: I'm saying in a world where you was able to
Speaker 1: get some sort of employment, you know, and that employment
Speaker 1: if you're doing your best to live within your means.
Speaker 2: These are just good practices.
Speaker 1: And again I'm just trying to explain borrowing, lending and
Speaker 1: budget right. So that being said, when this credit card
Speaker 1: are these people say yo, how much.
Speaker 2: You need and you like, like, let's take it to
Speaker 2: the streets.
Speaker 1: I'm back and going back and forth between you know, business,
Speaker 1: credit card, streets, government whatever.
Speaker 2: Right, let's take it to the streets. You know.
Speaker 1: That's why there's such things as loan sharks, right, because
Speaker 1: you can make a lot of money like that because
Speaker 1: you're desperate.
Speaker 2: You have to.
Speaker 1: You're gonna have to pay me back, you feel me,
Speaker 1: or we break kneecaps like you've seen movies.
Speaker 2: You know what I'm saying.
Speaker 1: You don't ever want to owe these people a favorite nigga,
Speaker 1: like cause you're gonna be in their debt forever, you know,
Speaker 1: because they'll approve your loan nigga, like you ain't got
Speaker 1: to go through though, like credit report that they approve
Speaker 1: your low nigga because because you don't pay them. Oh,
Speaker 1: come on, nigga, you family, it ain't nothing.
Speaker 2: You know what I'm saying. Now we'll get that, you
Speaker 2: know what I'm saying, Like gon't get on your feet, nigga.
Speaker 2: We good out here. We'll chat later. Oh, because.
Speaker 1: They gonna come collect Nigga, it's gonna be at a
Speaker 1: time you don't won't. And I know you're not gonna
Speaker 1: break your uncle kneecap unless, like I hope you not.
Speaker 1: Maybe maybe you set Grandma on them, you know what
Speaker 1: I mean? I don't know, but like when they're like, yo,
Speaker 1: how much you need? Are you good for it?
Speaker 2: How much you need?
Speaker 1: You throw out this number that you like, Oh, I know,
Speaker 1: I only make you know this much of mone so
Speaker 1: I won't be able to make these payments getting into
Speaker 1: these cars.
Speaker 2: You know, if you listen to urban radio stations, they're like.
Speaker 1: No credit, bad credit. Your job is your credit. We
Speaker 1: approve everyone. You could get in a foreign nigga, don't
Speaker 1: take that deal cuz okay, remember all the like, you know,
Speaker 1: the housing crisis, it was that it was like yo,
Speaker 1: or when the housing bubble explode, it was like we're
Speaker 1: giving y'all houses knowing full well you ain't gonna be
Speaker 1: able to pay this, so you got to have a wisdom.
Speaker 1: It's like, well they approved me for this jumbo loan.
Speaker 1: I guess I'm good. He's Linda's ain't looking out for you. Nigga,
Speaker 1: ain't making you a lick. You're the lick. You can't
Speaker 1: trust them to do right by you. Oh, we really
Speaker 1: wanted to get you in this home. Nah, nigga know
Speaker 1: you not? You know you can't afford this because when
Speaker 1: the interest rates shoot up, which is what happened right
Speaker 1: your bill quadrupled. You feel me because you was you
Speaker 1: locked into this like you know Jumbo loan with this
Speaker 1: arm thing. You ain't you know what I'm saying where
Speaker 1: it's like you didn't lock in your your interest rate,
Speaker 1: which means, like I said before, I'm charging you to
Speaker 1: let you borrow money from me, and I could raise
Speaker 1: my prices whenever I feel like it if I could
Speaker 1: be like Yo, it cost five dollars to barrow for me.
Speaker 1: Now it costs fifty dollars a ball for me. But
Speaker 1: you didn't already borrow the money, so you're gonna have
Speaker 1: to pay it like nah, fam So when they like YO,
Speaker 1: how much you good?
Speaker 2: How much you want?
Speaker 1: If you hit them like I want one hundred thousand
Speaker 1: dollars like nigga, you never gonna be able to pay that,
Speaker 1: like you know you can't handle that payment. You want
Speaker 1: your little tell, you want your little foreign whip. You
Speaker 1: know what I'm saying, That bill like, you know, four
Speaker 1: five bills a month, you trip it becuz like just
Speaker 1: so you could swerve this whip. When the repo man
Speaker 1: come pick your car up, you're gonna be looking real
Speaker 1: Laane gont dry that little bucket. You know what I'm saying,
Speaker 1: get your weight up right now, like do don't look look,
Speaker 1: I'm saying this knowing full well what it's like out here,
Speaker 1: but like, you need to be able to maintain these
Speaker 1: these loans. You need to be able to maintain these bills.
Speaker 1: So when they approve your credit limit, it would be
Speaker 1: smart to be like, this credit limit is based.
Speaker 2: On a budget. I know I can maintain.
Speaker 1: What happens is once you start hitting the red meaning
Speaker 1: you don't hit your credit limit. You maxed out that card,
Speaker 1: you maxed out that loan, it's like, YO, will borrow.
Speaker 1: We'll let you borrow ten thousand dollars, right and you
Speaker 1: was like, dope, that's my limit.
Speaker 2: Okay, Cool, Well I don't need all ten.
Speaker 1: I just need I just need to right now, Okay, Cool,
Speaker 1: your bill at two thousand.
Speaker 2: You'd be like, oh, I can handle that, you know
Speaker 2: what I'm saying.
Speaker 1: Like, okay, I could pay that off probably in like
Speaker 1: I pay that off in like three months. Get this
Speaker 1: thing back down to like zero, back down to like
Speaker 1: one hundred dollars. Right, But let's just say the helmies
Speaker 1: hit you and they like, yo, we going to can
Speaker 1: Coon cuz oh nigga, Like yo, y'all doing, y'all doing
Speaker 1: a vacation. All right, look I'll pull up.
Speaker 2: I just now just swipe my car. Well, I'll be good.
Speaker 1: Right, you swipe that card, that bill go from two
Speaker 1: hundred a month because you only had two thousand on
Speaker 1: your thing to now eight thousand.
Speaker 2: And then now you there and it's like, oh man, like.
Speaker 1: I'm not finna be in can Coon like a broke boy, Like,
Speaker 1: I mean, I still got to get these drinks. You
Speaker 1: to maxed out that credit card? Now, listen, is the
Speaker 1: credit card gonna decline? No, it's a business. Now they're
Speaker 1: gonna let you swipe away. You just gonna get the
Speaker 1: email that's like, uh, you don maxed out your card
Speaker 1: because you want some mo Yeah, I mean yeah, I
Speaker 1: mean I don't already spent it. So yeah, you gotta
Speaker 1: raise that level. Well, we'll raise it to twenty. At
Speaker 1: this point, you' like what the interest? I mean, it
Speaker 1: is what it is. I'm already out here already spent it.
Speaker 1: Are you living dangerous home boy?
Speaker 2: But you donet already spent it? So what are you
Speaker 2: supposed to do? I mean, you gotta pay it.
Speaker 1: It's already spent, right, I mean that's the US government.
Speaker 1: Let's take a break.
Speaker 2: Yeah, so.
Speaker 1: There are two positions, right, it's the bill came. The
Speaker 1: bill is more than what we budgeted. I need y'all
Speaker 1: to be cool for me to go ahead and pay
Speaker 1: this off. And we've never not paid our bill. Now
Speaker 1: you got your conservative wing that is like, nigga, this
Speaker 1: shit is weight y'all spending way too much. I'm not nah, fam,
Speaker 1: I'm not approving this number nigga until you promise me.
Speaker 2: You not finna like keep spending like this shit man
Speaker 2: like you.
Speaker 1: We can't just keep nigga, You're it's like you being irresponsible, bro,
Speaker 1: Like if you you can't afford this camt Coon trip, nigga,
Speaker 1: don't go to the camp.
Speaker 2: What are you doing?
Speaker 1: Like? And then you're looking at me on some like
Speaker 1: all right, hey the man, it's like, no, fool, like,
Speaker 1: what is you doing? I'm not aven this? And then
Speaker 1: you got the Democrat side that's like, well, the bill's
Speaker 1: already here. The time to talk about what's okay to
Speaker 1: spend is after this, like we'll we'll deal with that.
Speaker 1: I feel you. I mean, don't get me wrong, I
Speaker 1: feel you. But remember I wasn't the only one that
Speaker 1: said let's go to Cancun. Nigga, we all here, like,
Speaker 1: hold up, you agreed, you agreed to buying these drinks.
Speaker 2: You agreed to these tickets. Now that we hear.
Speaker 1: You don't get to be the one that's financially responsible
Speaker 1: and get to just duck out on this bill to
Speaker 1: bill here now you would have could have shuder me, Nigga,
Speaker 1: we gotta pay the bill. We'll deal with my spending
Speaker 1: habits a little bit later. And another thing, you spend
Speaker 1: just as bad as I do. You just spend it
Speaker 1: on other shit. I might be into drinks, but nigga,
Speaker 1: you into cars. You know, if we the government, it's
Speaker 1: like I might be into you know, these building programs,
Speaker 1: these bridges, but you went into that military like you
Speaker 1: buying absurd weapons like matter fact, you the biggest part
Speaker 1: of the build, nigga. So you're telling me to cut
Speaker 1: my little part. And the Republic is like, well, nigga,
Speaker 1: that part's the most important. You ain't got a life
Speaker 1: if we're not buying these. And you couple all that
Speaker 1: the other character in the story, which is the American people,
Speaker 1: that is like, hey, nigga, buy me a drink.
Speaker 2: Are you cute?
Speaker 1: Well?
Speaker 2: I want a drink.
Speaker 1: This Nigga's like, Yo, I want this, Airbnb, Yo, I
Speaker 1: want this. No, they should buy us this. You said
Speaker 1: you was gonna take me. I want a new purse,
Speaker 1: like you know what I'm saying.
Speaker 2: We the ones.
Speaker 1: Demanded like telling you, and the only reason we get
Speaker 1: to say that is because you told us, like, hey,
Speaker 1: what you want, baby girl, We're going to cancn Okay, listen,
Speaker 1: let me tell you what I want. I don't know
Speaker 1: why I made the American this is. I don't know
Speaker 1: why I made us. I'm a dude, you know what
Speaker 1: I'm saying. So I don't know why my characters sound. Well,
Speaker 1: I do know why my characters sound like this. I do.
Speaker 1: It's absurd, but anyway, stick with me. Now, you know
Speaker 1: what I'm saying. I mean you look he swiping the card.
Speaker 1: You feel me? So look you get to flex. You
Speaker 1: know what I'm saying, Cause you got me the pretty
Speaker 1: little thing you know on your little arm.
Speaker 2: You know what I'm saying.
Speaker 1: I'm your little piece out here in cant Con while
Speaker 1: you stunned the nigga. You need to make sure I
Speaker 1: got these, make sure I'm shining. But look the card
Speaker 1: doesne been swiped? This where we are, while we arguing
Speaker 1: over the bill. Is the time to argue over the bill.
Speaker 1: Ain't when the bill get here.
Speaker 2: It's when we swiping the card, nigga. Is when you
Speaker 2: start arguing over the bill.
Speaker 1: Nevertheless, this where we are, So what the government is
Speaker 1: doing is fighting over that bill is like do we
Speaker 1: pay it? And then you got people getting on the
Speaker 1: camera and they saying from both sides, like listen, we've
Speaker 1: never not paid our bill.
Speaker 2: We're gonna pay the bill. We just need to agree
Speaker 2: on you know this.
Speaker 1: That and the third right to us as the consumer
Speaker 1: is going, okay, so what happens if you don't pay
Speaker 1: a bill?
Speaker 2: What in half? The government don't get they paycheck?
Speaker 1: Right?
Speaker 2: What? Yeah, no, your niggas don't get they paychecks.
Speaker 1: If you work for a you got a federal job,
Speaker 1: I eat a military you just don't get your paycheck.
Speaker 1: But well, yeah, because we defaulted on our loan, then
Speaker 1: what you should say, let me get this straight. My
Speaker 1: paycheck is a loan, is money you borrowed? What and
Speaker 1: where the money you got? It seems extremely irresponsible, to
Speaker 1: which I would say, you are absolutely correct.
Speaker 2: So here's what happened.
Speaker 1: What happened was the bill comes, right, the bill for
Speaker 1: the US government and the Republic against pass a bill.
Speaker 1: They're saying, listen, I'm not raising this debt ceiling, which
Speaker 1: is like like I said, yo yo, limit yo Max, Like,
Speaker 1: I'm not gonna agree for you spending and paying for
Speaker 1: all this until you agree to stop spending money in
Speaker 1: these particular areas, right because again, like our government can't
Speaker 1: fund Remember, the Congress holds the purse, right, So we're
Speaker 1: not going to approve you spending this bread if which
Speaker 1: is really not a spend, it's a payback because the
Speaker 1: money's already spent. Right, We're not going to prove that
Speaker 1: until you agree to stop spending money on these four
Speaker 1: five things that we're sending two things, So you gotta
Speaker 1: want you pass that then we'll approve this. President Biden
Speaker 1: is like, bro, that's not a negotiation. This ain't the
Speaker 1: bills already here, what are you talking about? We could
Speaker 1: talk about that, but like nigga, not now you're essentially
Speaker 1: like you're own sharking me here, and you're not even
Speaker 1: the person I borrowed money from, like you said, like you,
Speaker 1: this is your tripping, like this is not the time
Speaker 1: to talk about this, to which the Republicans are like, well,
Speaker 1: we tried to talk about it.
Speaker 2: You ain't want to hear us. Then, now let's get
Speaker 2: into the policy stuff.
Speaker 1: The policy stuff kind of works like this, like, Okay,
Speaker 1: how do you get out of this? Well, remember again,
Speaker 1: the House has to approve the thing, right, and the
Speaker 1: position of the House and the position of the White
Speaker 1: House couldn't.
Speaker 2: Be further apart, right, So one way out of this. Now.
Speaker 1: I'm writing this the day after his Mother's Day, so
Speaker 1: I don't know what it's going to be, you know,
Speaker 1: because the you know, red line you getting evicted is
Speaker 1: June first, and this will be out probably after that.
Speaker 1: So I don't know what's gonna happen. But either everybody's
Speaker 1: allowed their fiction or they both get to go on
Speaker 1: stage and say why didn't get punked by the other party?
Speaker 2: You know what I'm saying?
Speaker 1: And I got what we wanted because nobody really wants
Speaker 1: to default on the loan, but also nobody wants to
Speaker 1: look like a punk. Right, So if Biden can be like, look, dog,
Speaker 1: I got it done. I did my wheeling and Dylon,
Speaker 1: I wasn't extorted, I wasn't strong armed. I made them
Speaker 1: understand that this is better for the people, and I'm
Speaker 1: down to go talk about these cuts because like, yo,
Speaker 1: maybe you are right, maybe we are maybe we are
Speaker 1: going crazy on these cuts. Things right, And then the
Speaker 1: Republicans get to be like, okay, listen, we made him
Speaker 1: come to the table. This fool understands that we not
Speaker 1: playing right. That's what y'all sent us up up here
Speaker 1: to do this. And they can make each other the enemy,
Speaker 1: and they can do this whole theater, and Biden can
Speaker 1: pretend like this ain't really about you know what I'm saying,
Speaker 1: that spending you know, on budget cuts and approving this
Speaker 1: are two separate things. They not, nigga, that's fiction, you
Speaker 1: feel me. But they can both pretend like they got
Speaker 1: what they needed or you could do this other thing,
Speaker 1: which is essentially like this like emergency ripcord thing where
Speaker 1: you really only need five Republicans to approve, right, And
Speaker 1: how would you do that? Why I could get five
Speaker 1: of y'all to agree if I start cutting back some
Speaker 1: of this like COVID relief money, and I could say, yo,
Speaker 1: I'll stop spending this. I'll agree to stop spending this
Speaker 1: before you send me this money. And that would make
Speaker 1: obviously the Republican base super angry because it looked like
Speaker 1: you got punked. But they'll get over it, you know
Speaker 1: what I mean, especially when they don't miss a check. Yeah,
Speaker 1: you feel me. So there's these ways to do that.
Speaker 1: And then there's this like really get into the policy
Speaker 1: stuff with the fourteenth Amendment. And that's the part that
Speaker 1: I was like, wait, what so what happened with the
Speaker 1: fourteenth Amendment? It had to do with the Civil War,
Speaker 1: right when the Confederate Army, you know, loaned out moneys
Speaker 1: through land bills. And that's what I'm gonna start are
Speaker 1: the Confederate government. I'm gonna start getting into like who
Speaker 1: the government borrow money from anyway? Right in a second,
Speaker 1: but when they started loaning our money once the once
Speaker 1: the Civil War was over, they came back and we
Speaker 1: came back into the Union. The government was like, you
Speaker 1: can't collect on debts. Nigga, your shit is gone right,
Speaker 1: Like no, nigga, no, noah, fam you don't get to
Speaker 1: collect because your whole shit was fraudulent anyway. So they
Speaker 1: put in here so that the Confederates can't do that
Speaker 1: to the Union and everybody else said that you can't
Speaker 1: just decide you're not gonna pay your bill and that
Speaker 1: you your bill is is like fraudulent. So they put
Speaker 1: into the fourteenth Amendments, oh, that the Confederates can't be like, well, nigga,
Speaker 1: we not paying your money either. There's this thing where
Speaker 1: it's like no, no, no, no, no, no no, you have
Speaker 1: to pay. So some people are arguing even the debt
Speaker 1: ceiling itself is unconstitutional because of the fourteenth Amendment. You
Speaker 1: have to pay the bill, like you can't not pay
Speaker 1: the bill. Now, that's one interpretation, you feel me. Now
Speaker 1: here's where it gets super bonkers, right. You have this
Speaker 1: system like this, like when we approve a budget, y'all
Speaker 1: remember hearing all that stuff, like early on in any
Speaker 1: presidential thing, they talk about approving the budget. What we're
Speaker 1: gonna spend what we're gonna do this and they send
Speaker 1: it these bills, and you got this Green the Bill,
Speaker 1: back better Bill. You have all these things. You approve
Speaker 1: this bill. The Congress says, boom, this is what we
Speaker 1: want done. Right, So that's according to the law. The
Speaker 1: president has to execute what y'all said to do, right.
Speaker 1: But then the debt ceiling says, but you could only
Speaker 1: do it with this amount of money, but you just
Speaker 1: told me. So. Now the president has this mixed message.
Speaker 1: It's like, do I either a fulfill what you told
Speaker 1: me to do by these laws when you pass this budget,
Speaker 1: or do I be don't do half the shit you
Speaker 1: told me to do, or raise taxes. I don't because
Speaker 1: how else am I gonna do what the I don't
Speaker 1: There's no way to So it's this like it don't
Speaker 1: make sense. In other words, Yo, Mama sends you to
Speaker 1: the store to go buy bread a pack of cigarettes.
Speaker 1: This is real long time ago, because you can't buy
Speaker 1: no pack of cigarettes. But go buy bread, milk, a
Speaker 1: pack of cigarettes, a case of cherios, and get yourself
Speaker 1: some candy.
Speaker 2: And she'd give you five dollars.
Speaker 1: That's not enough money, mom, So either I don't buy
Speaker 1: everything you said to buy, or I steal some of this,
Speaker 1: or you give me more money.
Speaker 2: But your mama say make it work? Like what am
Speaker 2: I mom?
Speaker 1: Like?
Speaker 2: What am I supposed to do here?
Speaker 1: And the answer is I don't know, because it's not
Speaker 1: like it's not in the Congress's power to make the
Speaker 1: president break a constitutional law to do what it said
Speaker 1: is gonna do either way. So I don't know, at
Speaker 1: least as of today. But I want to back up
Speaker 1: to a bigger question I had, and I was like,
Speaker 1: who the hell you borrow money from? How does that
Speaker 1: what you're telling me our taxes aren't enough, which is
Speaker 1: where if you're gonna talk about the talking points of
Speaker 1: the Republicans on surface, you're like, yeah, that makes perfect sense.
Speaker 1: It's like it's not enough, nigga, do we pay you
Speaker 1: so much? I don't understand why where your money going to?
Speaker 1: And why don't y'all know how to manage it?
Speaker 2: Right?
Speaker 1: I mean, that's a logical question to me, So let me,
Speaker 1: let me, let me, let me dive into this. So, yes,
Speaker 1: the money goes into our national treasury, right, and yeah,
Speaker 1: part of that is our taxes, right, But our taxes
Speaker 1: don't cover the amount of spending we have.
Speaker 2: So what the.
Speaker 1: Department of Treasury does is it borrows money to make
Speaker 1: up the difference between spending and revenue.
Speaker 2: Now, who do they borrow from.
Speaker 1: It gets this the public, listen, the federal They borrow
Speaker 1: money by issuing securities, bills, notes, and bonds through the
Speaker 1: Treasury securities and they're super attractive because they're backed by
Speaker 1: the full faith of the US government. So if you
Speaker 1: go invest a little bread into the government, like y'all
Speaker 1: run you, I'll buy this called bill or bond, which
Speaker 1: again I can's it's enough. Money's made up, right, But
Speaker 1: it's to make sure that there's money inside the bank.
Speaker 1: How does a bank crash is when everybody takes day
Speaker 1: money out at the same time because the money's not
Speaker 1: really there, right, it's not actual money. It's worth floating,
Speaker 1: you know, little beads around back and forth to pretend
Speaker 1: like there's money there. That's how a bank crashes is
Speaker 1: when everybody decides, nah, I think I'll take more money.
Speaker 1: Then there's not enough to cover.
Speaker 2: It, right.
Speaker 1: So what the Feds do is they say, well, let
Speaker 1: me loan out these bonds and be like, yo, we're
Speaker 1: good for it. We've never defaulted on a loan. That's
Speaker 1: that uncle when he say, I'm hold, I'm gonna hold
Speaker 1: this till Tuesday. Don't that uncle not only give you
Speaker 1: that twenty dollars back, but he give you twenty dollars
Speaker 1: a case of corona and an extra ten for being
Speaker 1: so cool to it? Right, So they borrow from the public.
Speaker 1: But it's not like there's enough Americans to be able
Speaker 1: to cover the amount of money we actually need to
Speaker 1: run a government.
Speaker 2: So who do we borrow from?
Speaker 1: But I tell you what, before we even asked that,
Speaker 1: maybe these boomers can't answer their own follow their own
Speaker 1: advice to say, well, you're spending so much money on
Speaker 1: avocado toast. Maybe if you're smarter with your monkey, well
Speaker 1: maybe you don't need two air force ones. Maybe maybe
Speaker 1: military weapons research doesn't need to be a trillion dollars.
Speaker 1: I mean you, I mean you telling us maybe we
Speaker 1: spending money on stuff that like, Okay, hold up, now,
Speaker 1: the things I'm asking for is reasonable. I'm saying, I
Speaker 1: look a drivable street. It seems to me seem like
Speaker 1: that'd be more wise spending. It's all I'm saying. The
Speaker 1: stuff you trying to cut is the stuff we kind
Speaker 1: of need to survive. The stuff you're trying to keep
Speaker 1: seems to me like you just protecting your own money.
Speaker 1: So before you start telling me you understand what I'm saying.
Speaker 1: Before you start telling us as young folks, we can't
Speaker 1: buy no house because we buying too much on avocado coats,
Speaker 1: Maybe you should understand inflation, my nigga, and maybe run
Speaker 1: your own buddy better and follow your own advice. Now,
Speaker 1: who you borrow money from? This is who we borrow from.
Speaker 1: Check this out. This is according to the US Government
Speaker 1: Accountability Office, more than seventy five percent of foreign holdings
Speaker 1: of the US tragedy can be attributed to fifteen countries.
Speaker 1: China excluding Hong Kong and Mancheu and Japan are the
Speaker 1: largest holdings.
Speaker 2: So we borrow money from other countries.
Speaker 1: We borrow money from people we might potentially be a
Speaker 1: war with. So do you think it's super important maybe
Speaker 1: that we paid this money back? So when you when
Speaker 1: when you like, I need you to think about this
Speaker 1: for a second. What the hell kind of system is this?
Speaker 1: We borrow money from other countries, not only that we
Speaker 1: borrow from ourself.
Speaker 2: So when we say in the government defaulting on their loans.
Speaker 1: I used to think, okay, well how about this, let's
Speaker 1: just print a trillion dollar coin, because remember, we print
Speaker 1: our own money. It doesn't mean this is so stupid
Speaker 1: right here you go, we meant the money. So here
Speaker 1: everything's cool. Well, as we know, like we talked about before,
Speaker 1: that would cause the stock market and inflation to because
Speaker 1: that money means nothing, right because the money is going
Speaker 1: back to us. I don't I does this make sense
Speaker 1: to you? It don't make sense to me either. However,
Speaker 1: this is where we are, so in conclusion. We are
Speaker 1: in the part of the movie where Smokey is trying
Speaker 1: to figure out how he gonna find this money for
Speaker 1: Big Worm. So he asking to other people because he'd
Speaker 1: had already smoked up all this stuff.
Speaker 2: If you was supposed to sell, now he got to
Speaker 2: have either the weed or the money. And he running
Speaker 2: around and figuring out.
Speaker 1: So the government has said you supposed to spend this much,
Speaker 1: Well I spent it, but what you asked me to
Speaker 1: do costs more than what you gave me money for,
Speaker 1: so now I got to approve the thing, and we
Speaker 1: just now you're like, well, no, you were supposed to
Speaker 1: spend money on this and not on this. Well, I
Speaker 1: don't know what the hell to do because Japan and
Speaker 1: China is waiting for they check, and so are the
Speaker 1: people that hold wealth in bonds in our own country.
Speaker 1: And then what happens is if the stock market don't
Speaker 1: like all this, then we fall into another recession, and
Speaker 1: then your interest rates go up. So guess who end
Speaker 1: up paying the debt?
Speaker 2: Nigga, you got it? Oh man, I don't know what
Speaker 2: the hell to tell you.
Speaker 1: In conclusion, let us, as the voting constituents of the
Speaker 1: u United States of America, look dog government and say,
Speaker 1: I don't think you applying yourself smoky hood politics. You know,
Speaker 1: I don't know why I ain't thought of this before,
Speaker 1: but you know you could use promo code hood for
Speaker 1: fifteen percent off on terraform coolbrew dot com. Like I
Speaker 1: forgot I own that company and this is my pod. Y'all,
Speaker 1: go ahead and punch your promo cod hood that you
Speaker 1: in the cold brew gets you some cold brew, gonna
Speaker 1: get get you some coffee. Yeah, Like, I can't believe,
Speaker 1: I ain't think it is still right now, y'all, y'all,
Speaker 1: This thing right here is recorded by me propaganda and
Speaker 1: East Lows, Boil Heights, Los Angeles, California. This thing was mixed, edited, mastered,
Speaker 1: and scored by the one and only Matt Awsowski.
Speaker 2: Y'all check out this fool's music.
Speaker 1: I mean it's incredible. Executive produced by Sophie Lichterman for
Speaker 1: Cool Zone Media. Man, and thank you for everybody who
Speaker 1: continue to tap in with us. Make sure you leaving
Speaker 1: reviews and five star ratings and sharing it with the
Speaker 1: hommies so we could get this thing pushed up in
Speaker 1: the algorithm and listen. I just want to remind you
Speaker 1: these people is not smarter than you. If you understand
Speaker 1: city living, you understand politics. We'll see you next week.
Speaker 1: Pe