WEBVTT - The Mark Moss Show Oct 12, 2022 0:00:00.080 --> 0:00:02.600 Hello, and welcome back to another episode of The Markmas Show, 0:00:02.600 --> 0:00:05.320 where we talk about the decentralized revolution each and every week, 0:00:05.600 --> 0:00:08.600 the way the world's changing through the lens of politics 0:00:08.760 --> 0:00:12.680 and finance and technology, moving from a world of centralization 0:00:12.720 --> 0:00:16.840 to decentralization. And uh man, there's so much going on 0:00:16.880 --> 0:00:20.360 in the world, so much that continues to prove this 0:00:20.440 --> 0:00:22.959 thesis is coming true and we need to keep an 0:00:22.960 --> 0:00:24.640 eye on it. You know, people always ask me, Mark, 0:00:24.640 --> 0:00:26.160 when is it gonna happen? When is it gonna happen. 0:00:26.200 --> 0:00:31.400 I'm like, it's happening. It is apt like it's happening now, 0:00:31.440 --> 0:00:33.560 we're watching it. And so I always want to remind 0:00:33.560 --> 0:00:38.159 you it's a process and not an event. A process 0:00:38.200 --> 0:00:43.440 and not an event. Now, um, a little story about that. 0:00:43.720 --> 0:00:47.720 Um so I I am still but in one of 0:00:47.760 --> 0:00:50.720 my former lives, I was a full time real estate investor, 0:00:51.800 --> 0:00:54.920 buying properties, fixing, flipping. But I was also buying dirt 0:00:54.960 --> 0:00:57.840 and building from the ground up right, um. And those 0:00:57.840 --> 0:01:00.680 projects will take four or five years, sometimes longer. Let's 0:01:00.720 --> 0:01:04.240 say for example, that I heard, uh I was at 0:01:04.040 --> 0:01:07.200 a town a town hall meeting and they said, hey, uh, 0:01:07.240 --> 0:01:09.360 you know our five year plan Um, this this piece 0:01:09.360 --> 0:01:12.000 of land that's about thirty miles from town. Uh, we're 0:01:12.000 --> 0:01:15.560 gonna build a new football stadium there, and um, it's 0:01:15.600 --> 0:01:17.319 gonna be We're gonna try and push every all the 0:01:17.360 --> 0:01:19.520 growth of the town towards this football stadium is gonna 0:01:19.520 --> 0:01:21.080 be amazing. You want to build entertainment and how's in 0:01:21.080 --> 0:01:23.800 blah blah blah blah blah. And I'm like, wow, that's amazing. 0:01:23.880 --> 0:01:26.720 The next morning, I leave and I go by as 0:01:26.800 --> 0:01:29.240 much land as I can in that area, right, but 0:01:29.280 --> 0:01:30.959 I know that it's not gonna be built for five years. 0:01:31.000 --> 0:01:32.600 So what am I doing? I need to make sure, 0:01:32.640 --> 0:01:34.840 like is this project still on tracks? So I'm monitoring 0:01:34.840 --> 0:01:37.800 now have they got you know, have they got the plans, 0:01:37.880 --> 0:01:40.640 are they getting the permits? Have they secured the financing? 0:01:41.200 --> 0:01:44.319 Are they breaking ground? Have they started building? Right? And 0:01:44.319 --> 0:01:46.640 so I'm monitoring the progress to make sure that thing 0:01:46.680 --> 0:01:48.520 is still happening. Now if I find out oh no, 0:01:48.800 --> 0:01:50.480 I guess what they found out They had nuclear waste 0:01:50.520 --> 0:01:52.680 on that on that land they could no longer build anymore, Well, 0:01:52.720 --> 0:01:55.760 then okay, the projects off. So we want to These 0:01:55.760 --> 0:02:00.120 are processes, not events, and so this is happening and 0:02:00.200 --> 0:02:03.120 we see the daily signs to show us as is happening, 0:02:03.120 --> 0:02:06.440 so we can act accordingly. Um. And so that's why 0:02:06.520 --> 0:02:08.920 I like to look at all of this news now, 0:02:10.040 --> 0:02:13.120 big news in the economy. Uh. I put out a 0:02:13.800 --> 0:02:15.920 put out a I think, a story on Instagram. If 0:02:15.960 --> 0:02:19.000 you're not following me on Instagram or Twitter, you should. Uh. 0:02:19.160 --> 0:02:21.280 It's just one Mark Moss, just the number one Mark Moss. 0:02:21.320 --> 0:02:23.000 And I put out a story on Instagram. And I 0:02:23.080 --> 0:02:26.120 was like, tongue in cheek obviously, but I'm like, all right, 0:02:26.160 --> 0:02:32.520 congratulations he congratulations. Uh. The United States debt finally surpassed 0:02:32.600 --> 0:02:36.640 thirty one trillion dollars for the first time. Uh, tongue 0:02:36.639 --> 0:02:39.360 in cheek, But that's a big number, dirty one trillion 0:02:39.360 --> 0:02:42.880 dollars for the first time ever. It's not a milestone 0:02:42.919 --> 0:02:45.840 to celebrate. So I was being tongue in cheek. Now, 0:02:46.080 --> 0:02:50.640 not only not only have we passed thirty one trillion dollars, 0:02:51.000 --> 0:02:53.480 which is not a good milestone, it's a grim mouse dun. 0:02:53.880 --> 0:02:56.799 At the same time, as the debt is absolutely exploding, 0:02:57.560 --> 0:03:01.079 we have soaring interest rates, so that means not only 0:03:01.160 --> 0:03:02.760 are we getting more debt, but we have to pay 0:03:02.960 --> 0:03:05.919 more for the debt at the same time, which is 0:03:05.919 --> 0:03:11.160 a pretty big deal. Uh, We're seeing inflation higher than 0:03:11.200 --> 0:03:15.000 we've seen in forty years, interest rates are going up, 0:03:15.360 --> 0:03:20.920 and the debt is growing as well. Now we have 0:03:21.120 --> 0:03:23.200 we have this phenomenon. It's growing faster than it has 0:03:23.240 --> 0:03:25.639 any time in history. I believe. I believe it's gone 0:03:25.720 --> 0:03:29.280 up by four trillion since Biden took office, or within 0:03:29.320 --> 0:03:30.800 the last couple of years. I don't have the exact 0:03:31.120 --> 0:03:33.280 number in front of me. UM, but what we do 0:03:33.360 --> 0:03:39.400 know is that UM, we are spending more. The interest 0:03:39.440 --> 0:03:41.400 on the debt is going up more, which means we 0:03:41.440 --> 0:03:46.400 have less money to put towards other things. And tax 0:03:46.440 --> 0:03:50.400 receipts are coming down m So the amount of income 0:03:50.480 --> 0:03:53.560 coming in is going down, but are spending is going 0:03:53.680 --> 0:03:56.920 up and the debt that we have is getting more expensive. 0:03:57.480 --> 0:04:00.440 It's not a good it's not a very good combo 0:04:00.520 --> 0:04:02.600 to have. As a matter of fact, we see that 0:04:03.160 --> 0:04:05.320 Congress and the President have approved a combined one point 0:04:05.400 --> 0:04:09.240 nine trillion and new borrowing, and President Biden has approved 0:04:09.280 --> 0:04:13.280 four point nine trillion in new deficits since taking office. 0:04:13.280 --> 0:04:16.760 So five trillion dollars in deficits. What does that mean? 0:04:16.800 --> 0:04:19.800 That's the difference of the income and the expenses. So 0:04:19.839 --> 0:04:21.640 let's say that you make a hundred thousand dollars a year, 0:04:22.560 --> 0:04:24.320 but you need a hundred and twenty thousand to live, 0:04:24.360 --> 0:04:26.240 so you're borrowing off of credit cards or whatever. So 0:04:26.279 --> 0:04:28.200 we have a twenty dollar deficits. Well, we had a 0:04:28.320 --> 0:04:33.400 five trillion dollar deficits. Five trillion dollar deficits, and of 0:04:33.480 --> 0:04:35.400 course during that time, we need to continue to spend 0:04:35.440 --> 0:04:38.360 more and more money we're sending. Uh you know, was 0:04:38.440 --> 0:04:41.120 it twelve billion dollars was the latest deal going over 0:04:41.120 --> 0:04:43.640 to Ukraine at a time where we just we didn't 0:04:43.640 --> 0:04:47.159 have no money. But it's troubling because the debt has real, 0:04:48.440 --> 0:04:51.080 real problems. So you might hear people say, oh, we 0:04:51.120 --> 0:04:55.720 owe it to ourselves, right, we owe to ourselves, Uh yeah, 0:04:55.760 --> 0:04:58.040 some of it, but who else we go to? Well, 0:04:58.200 --> 0:05:00.800 we owe it to all the retire these whose pension 0:05:00.800 --> 0:05:02.680 funds are tied up in it. Yeah, we owe it 0:05:02.760 --> 0:05:05.680 to other countries like Japan whose o theve retirees are 0:05:05.720 --> 0:05:08.840 tied up in it as well. So uh sure, right, 0:05:08.880 --> 0:05:13.040 we owe some to ourselves whatever, But ourselves are like 0:05:13.240 --> 0:05:16.040 me and my money that I'm planning to have upon 0:05:16.160 --> 0:05:19.520 retirement that could potentially go away. We can see that 0:05:19.560 --> 0:05:24.400 Medicare is only six years from insolvency. Six years from 0:05:24.400 --> 0:05:27.719 insolvency what I mean Medicare having no more money. A 0:05:27.760 --> 0:05:30.839 lot of people depend on Medicare. When that goes broke, 0:05:30.880 --> 0:05:35.240 what happens? So security is insolvent in twelve years. Bummer 0:05:35.279 --> 0:05:37.000 for me. I've been paying into it for a long time. 0:05:37.040 --> 0:05:40.160 Looks like I got no money to retire on. So 0:05:40.200 --> 0:05:45.000 what's gonna happen with that? Well, either the government goes 0:05:45.040 --> 0:05:47.599 busts and doesn't pay all these people to sub security 0:05:47.600 --> 0:05:49.680 they owe them and all the medicare. Either that happens, 0:05:49.839 --> 0:05:55.960 or more likely, they print a lot more money, a 0:05:56.040 --> 0:06:00.279 lot more so you can you can chime in on 0:06:00.360 --> 0:06:02.680 what you think is more likely. Hit me up on 0:06:02.720 --> 0:06:05.240 social media, um one, Mark Moss and let me know 0:06:05.279 --> 0:06:07.320 what you think. Of course, I'll tell you what I think. 0:06:08.480 --> 0:06:10.279 Why would a government go bankrupt when they can just 0:06:10.279 --> 0:06:13.480 print the money? Of course the answer is they won't. 0:06:13.520 --> 0:06:15.960 So we have that big problem. The debt is getting bigger. 0:06:16.279 --> 0:06:19.760 At the same time, we just saw the job's openings, 0:06:20.080 --> 0:06:22.080 So the economy, remember that the FED has two man 0:06:22.160 --> 0:06:26.120 dates full employment and stable prices. Where prices aren't stable, 0:06:26.480 --> 0:06:29.680 they're nowhere near stable. As a matter of fact, as 0:06:29.720 --> 0:06:32.839 I was talking about earlier, gas prices just broke their 0:06:32.839 --> 0:06:35.920 all time records set in June. So, uh, that's anything 0:06:35.960 --> 0:06:37.520 far from stables. A matter of fact, they went up 0:06:37.520 --> 0:06:42.120 a dollar twenty in just thirty days. Certainly not stable. UM. 0:06:42.160 --> 0:06:44.080 So they're failing at that obviously, but they can at 0:06:44.160 --> 0:06:47.039 least we have a low unemployment, We have low eemployment, 0:06:47.080 --> 0:06:49.000 well not really if we dig into the date, it's 0:06:49.000 --> 0:06:51.240 not that bad. But it's even worse because this week 0:06:51.279 --> 0:06:53.839 we saw job openings plunged by more than one point 0:06:53.880 --> 0:06:59.240 one million in August, a ten percent drop from what 0:06:59.279 --> 0:07:02.280 was reported into lie and more than a million less 0:07:02.360 --> 0:07:04.640 than what was expected. That's the big thing. And so 0:07:04.880 --> 0:07:07.840 they set these expectations, they set these goals, um whenever 0:07:07.880 --> 0:07:09.800 like a public traded company says these are sales or 0:07:09.840 --> 0:07:13.720 profit expectations or the government does, you're supposed to hit those, 0:07:14.120 --> 0:07:15.840 you want to beat them. If you don't, if you don't, 0:07:15.880 --> 0:07:17.800 if you don't meet those at a big deal. And 0:07:17.880 --> 0:07:21.360 that's exactly what happened here. UM. And so what does 0:07:21.400 --> 0:07:25.119 that mean? It means that UM, there's a massive US 0:07:25.360 --> 0:07:29.760 labor gap. It's beginning to close, all right. Um, so 0:07:29.760 --> 0:07:31.880 it's a big deal. And the numbers of hires rose slightly, 0:07:31.920 --> 0:07:35.920 while total separations jumped by a d two thousand. Quits 0:07:36.040 --> 0:07:38.800 or those who left their jobs voluntarily, rose by a 0:07:38.840 --> 0:07:42.280 hundred thousand for the month to four point one six million, 0:07:42.360 --> 0:07:45.680 So four million people over four million people quit or 0:07:45.800 --> 0:07:48.480 left their job. Now we don't know why. We know 0:07:48.600 --> 0:07:49.800 at the end of last year, we saw a lot 0:07:49.800 --> 0:07:51.520 of people quitting their jobs, record amounts, as a matter 0:07:51.520 --> 0:07:54.400 of fact, people quitting their jobs to um trade options 0:07:54.400 --> 0:07:58.000 on robin Hood or trade cryptocurrencies. I can't imagine they're 0:07:58.080 --> 0:08:02.160 they're still doing that right now, um, but maybe they 0:08:02.480 --> 0:08:04.960 because as we saw on some of the labor reports 0:08:04.960 --> 0:08:09.160 in July, people were taking multiple jobs um. And so 0:08:09.200 --> 0:08:11.880 the growth that we saw in jobs wasn't real data. 0:08:11.960 --> 0:08:14.360 I mean, it was obviously real data, but it wasn't 0:08:14.400 --> 0:08:16.440 what it seemed. And so we saw it wasn't that 0:08:16.640 --> 0:08:18.360 more people are going to work. That people were taking 0:08:18.400 --> 0:08:20.320 more than one job, and so maybe they're going back 0:08:20.320 --> 0:08:23.000 to one job potentially. But these are the signs that 0:08:23.000 --> 0:08:27.840 show us, like the FEDS, the FEDS stock. The FED 0:08:27.960 --> 0:08:29.520 is going to have to do something. They said they're 0:08:29.520 --> 0:08:33.360 gonna stick with it until it's done, but I'm not 0:08:33.440 --> 0:08:37.680 so sure. I think I am, for one, making the 0:08:37.720 --> 0:08:39.920 case that they won't be able to bring inflation back 0:08:39.920 --> 0:08:42.040 down to two percent. They will be forced to pivot 0:08:42.040 --> 0:08:44.240 before they get to that point. Maybe they get it 0:08:44.280 --> 0:08:47.480 to four or five at best, but they're going to 0:08:47.559 --> 0:08:51.679 be forced to pivot. Uh. The job's opening reports show 0:08:51.760 --> 0:08:54.720 that the national debt shows that the story and deficit 0:08:54.800 --> 0:08:57.640 shows that UM. As inflation continues to rade, John, the 0:08:57.640 --> 0:09:00.000 government will have to spend more money to subsidize energy prices. 0:09:00.040 --> 0:09:02.280 Is like they're already doing over in Europe. We'll see 0:09:02.320 --> 0:09:07.760 the deficit expand and that long awaited pivot is coming. 0:09:08.120 --> 0:09:09.679 Now you're listening to the Mark Ma Show. We talk 0:09:09.720 --> 0:09:13.200 about the decentralized revolution, and this is one of those things. 0:09:13.200 --> 0:09:16.160 We talked about money, uh, finance, politics and technology, and 0:09:16.160 --> 0:09:18.679 through the politics and finance, peace the system we know 0:09:18.720 --> 0:09:21.319 it is coming to an end, showing the inevitability of 0:09:21.360 --> 0:09:24.240 this decentralized world we're talking about. Anyway, I got a 0:09:24.320 --> 0:09:26.640 lot more to cover when I come back about the pivot. 0:09:26.679 --> 0:09:30.439 I got more about oh oh, some big stories. Actually 0:09:31.080 --> 0:09:32.440 you don't want to miss this. Don't go away. I'm 0:09:32.440 --> 0:09:34.920 gonna be right back. All right, welcome back. You are 0:09:34.920 --> 0:09:36.760 listening to the Mark Ma Show. We're talking about the 0:09:36.760 --> 0:09:39.920 decentralized revolution, the way the world is changing right now 0:09:39.960 --> 0:09:44.000 before our very eyes. And one thing that I'm it's 0:09:44.040 --> 0:09:46.640 been scaring me and I've been talking about quite a bit, 0:09:47.600 --> 0:09:49.520 um and it is scary. It's very scary. I'm sure 0:09:49.520 --> 0:09:51.520 you're scared about it when I tell you what it is. 0:09:51.760 --> 0:09:54.360 But I'm but I have hope and I'm continuing to 0:09:54.480 --> 0:09:57.560 get more hope and be more encouraged. That's what am 0:09:57.559 --> 0:10:00.600 I talking about. Well, over the last couple of years, 0:10:00.920 --> 0:10:04.320 we have seen this shift. The world has shifted hard 0:10:04.360 --> 0:10:09.080 to the left. Um wokesm has taken over everything. And 0:10:09.080 --> 0:10:12.160 it's part of my thesis of this peak centralization. So 0:10:12.559 --> 0:10:16.200 as we get to peak centralization, uh, it gets more 0:10:16.320 --> 0:10:19.160 control and they're trying to control more and more and 0:10:19.200 --> 0:10:21.400 more and more. But the world is rejecting it, has 0:10:21.400 --> 0:10:23.199 breaking apart, and so they're trying to squeeze and hold 0:10:23.240 --> 0:10:24.920 on even more as the world rejects it and breaks 0:10:24.920 --> 0:10:26.400 it apart. So a couple of things that we can 0:10:26.440 --> 0:10:29.240 see of this um and and these are like reactions. 0:10:29.280 --> 0:10:33.000 But I mean, just this week we saw UH has 0:10:33.000 --> 0:10:35.560 seen de Hardin for the PM of New Zealand, went 0:10:35.600 --> 0:10:42.880 to the u N and called for coordinated global censorship. 0:10:43.800 --> 0:10:48.679 She said that free speech is a weapon of war. 0:10:50.000 --> 0:10:55.040 That was her words. What we're seeing is UH corporations 0:10:56.280 --> 0:11:02.000 going woke, pushing agendas on all types of issues. They're 0:11:02.000 --> 0:11:05.800 pushing these e s G policies and environmental social governance. 0:11:05.800 --> 0:11:08.679 So these corporations have to match these e s G 0:11:09.360 --> 0:11:12.360 UH qualities in order to get funding. So if you 0:11:12.400 --> 0:11:14.560 want to sell your products, if you want financing, then 0:11:14.600 --> 0:11:17.800 you have to comply with this. But these are disastrous 0:11:17.880 --> 0:11:20.520 policies for a bunch of reasons. First of all, the 0:11:20.559 --> 0:11:23.240 first reason off the bat is because central planning always fails. 0:11:23.640 --> 0:11:26.520 You cannot control an economy top down. It doesn't work. 0:11:26.559 --> 0:11:28.079 It's been tried over and over and over for the 0:11:28.120 --> 0:11:31.360 last huntred years. It's felt miserably every single time time, 0:11:31.480 --> 0:11:35.800 and it will never work because a group of people 0:11:36.080 --> 0:11:39.280 do not have the information that collectively the market has. 0:11:39.880 --> 0:11:42.480 All right, it doesn't work, it can never work. But 0:11:42.520 --> 0:11:45.440 this is happening more and more and more but uh, 0:11:45.600 --> 0:11:48.920 as as scary as this is because they're wielding a 0:11:48.920 --> 0:11:52.120 lot of weight. We're seeing firms like black Rock wield 0:11:52.120 --> 0:11:55.000 their weight. The largest asset manager in the world is 0:11:55.200 --> 0:11:58.600 forcing companies to change, you know, to go woke, to 0:11:58.640 --> 0:12:00.800 push these e s. G. Agen is and so that's scary. 0:12:00.880 --> 0:12:04.560 But what I'm happy about is we're seeing the tide shift. 0:12:04.760 --> 0:12:07.240 The pendulum is swinging back. And so what am I 0:12:07.240 --> 0:12:10.400 talking about. Well, we saw some big news this week 0:12:10.440 --> 0:12:13.360 that I was uh, pretty happy about and it was 0:12:13.400 --> 0:12:16.240 about black Rock. Now, first of all, if you don't 0:12:16.240 --> 0:12:18.640 know who black Rock is, then you've been living under 0:12:18.679 --> 0:12:22.040 a rock. I suppose no pun intended to black Rock. 0:12:22.440 --> 0:12:24.679 But black Rock is, like I said, the largest money 0:12:24.720 --> 0:12:28.160 mass money manager in the world, and they are using 0:12:28.160 --> 0:12:31.280 that money to weaponize it against you. As a matter 0:12:31.280 --> 0:12:36.880 of fact, they are endangering US prosperity and national security. 0:12:36.920 --> 0:12:39.079 Per an article that I'm I'm reading here that came 0:12:39.080 --> 0:12:41.720 out on the Federalist. Black Rock is a big, powerful 0:12:41.720 --> 0:12:44.400 company that most Americans know little about. It manages almost 0:12:44.520 --> 0:12:47.480 ten trillion that numbers bigger now um and the vast 0:12:47.480 --> 0:12:50.800 majority of its investing is done passively. So black Rock 0:12:50.840 --> 0:12:54.080 manages money for large institutions and pensions. If you have 0:12:54.120 --> 0:12:57.160 a pension um or like a four one K, then 0:12:57.160 --> 0:13:00.160 it's a good chance you have your money with black 0:13:00.200 --> 0:13:04.040 just about everything, I'm sorry, just about everyone um has 0:13:04.280 --> 0:13:08.120 or knows someone who has money directly or indirectly in 0:13:08.320 --> 0:13:10.280 black Rock. They're that big and so because of that, 0:13:10.320 --> 0:13:14.760 they wield enormous power. And uh, even though they're not 0:13:14.840 --> 0:13:18.280 the owner of the money, they're managing it on behalf 0:13:18.280 --> 0:13:22.319 of their clients. But they get the vote, they can 0:13:22.440 --> 0:13:25.920 vote on those shares they buy on behalf of their clients. 0:13:26.120 --> 0:13:28.680 So you have your money in a in an index fund, 0:13:28.679 --> 0:13:30.720 in a four O one K, and a pension, and 0:13:30.760 --> 0:13:32.880 that pension is now given to black Rock, so black 0:13:32.960 --> 0:13:35.600 Rock can manage it. So it's not their money that 0:13:35.640 --> 0:13:38.320 they wield all the power with. It's yours. But they 0:13:38.360 --> 0:13:40.680 have it because you've given it to them passively, and 0:13:40.679 --> 0:13:44.880 they use it to exert exert crazy amounts of influence 0:13:44.920 --> 0:13:49.920 over corporate management like for example, Exxon, Microsoft, etcetera. Now 0:13:50.000 --> 0:13:51.840 what they do is they push for these left wing 0:13:52.200 --> 0:13:55.160 political priorities. I hate to use left or right. They're 0:13:55.160 --> 0:13:58.440 pushing for E S G policies, They're pushing for woke policies. 0:13:58.440 --> 0:14:02.200 Whatever side do you want to call that on UM alone, 0:14:02.240 --> 0:14:06.079 black Rock opposed the reelection of eight hundred company directors. 0:14:06.480 --> 0:14:09.720 They took over Exxon's board, and they stopped Exon from 0:14:09.800 --> 0:14:14.360 drilling for new oil projects an oil company. Interesting. They 0:14:14.440 --> 0:14:17.440 removed board governors and installed new members. Despite the globe 0:14:17.440 --> 0:14:20.960 objectively being underinvested in energy, so at a time when 0:14:20.960 --> 0:14:24.720 we don't have enough energy, they took over EXN and 0:14:24.760 --> 0:14:28.080 made Excen stop drilling for oil. It seems like it 0:14:28.120 --> 0:14:30.600 goes against yours and my best interests. I would like 0:14:30.640 --> 0:14:33.120 oil to be cheaper. If oil cheaper, everything goes cheaper, 0:14:33.200 --> 0:14:35.840 but not to black Rock. Black Rock contributes to the 0:14:35.840 --> 0:14:41.440 economy's monopoly problem. UM black Rock is the is a 0:14:41.560 --> 0:14:45.360 prominent cause of the unprecedented rise in housing prices. They've 0:14:45.400 --> 0:14:47.920 killed the dreams of so many Americans um to own 0:14:47.920 --> 0:14:50.920 homes because they buy up chunks of single family homes, 0:14:50.960 --> 0:14:53.320 person in large unks of homes paying over thirty five 0:14:53.320 --> 0:14:54.960 percent asking price, because they have the ability to have 0:14:55.040 --> 0:14:56.360 all that money. I can keep going on and on 0:14:56.400 --> 0:14:59.320 about black Rock, but you get the point. What I'm 0:14:59.320 --> 0:15:02.680 happy about out as I saw just this week that 0:15:02.800 --> 0:15:08.640 Louisiana hits black Rock with a massive, multideal, multimillion dollar 0:15:08.960 --> 0:15:15.080 divestment for quote blatantly anti fossil fuel policies. So Louisiana 0:15:15.080 --> 0:15:18.040 State Treasurer John Schroeder announced that his state will divest. 0:15:18.040 --> 0:15:19.640 That means they're gonna take all their money away. We're 0:15:19.640 --> 0:15:21.120 done with you. We're not going to give you our 0:15:21.160 --> 0:15:23.760 money to weaponize against us anymore. We're gonna take our 0:15:23.760 --> 0:15:28.040 money back. Forget you. They're divesting their funds from black 0:15:28.120 --> 0:15:30.800 Rock due to Environmental, Social and Governance e s G 0:15:30.920 --> 0:15:35.280 policies and and and some claim boycott the oil, gas, 0:15:35.320 --> 0:15:38.840 and coal industries. Schroeder said, quote in a letter, you're 0:15:38.880 --> 0:15:44.000 blatantly anti fossil fuel policies would destroy Louisiana's economy. Why 0:15:44.000 --> 0:15:46.520 would we give you our money so uh in in 0:15:46.600 --> 0:15:49.600 the state, our pensioners are retirees. We're gonna give you 0:15:49.640 --> 0:15:51.600 money that you're going to use to push policies that 0:15:51.600 --> 0:15:55.040 will destroy us. Why would I give you money that 0:15:55.080 --> 0:15:57.520 you're going to weaponize against me, to destroy me? Makes 0:15:57.560 --> 0:16:01.280 no sense? And I would ask every buddy listening right 0:16:01.280 --> 0:16:04.160 now to ask themselves that very same question. If you 0:16:04.240 --> 0:16:07.200 have any money at all that somehow gets back to 0:16:08.000 --> 0:16:10.800 black Rock and Vanguarden State Street. You need to think 0:16:10.800 --> 0:16:13.440 about getting that money out, pressuring whoever's and control that 0:16:13.480 --> 0:16:16.200 money to get that money out, to avoid losing state 0:16:16.240 --> 0:16:19.200 money quote to the detriment of our citizens. The Louisiana 0:16:19.240 --> 0:16:24.080 Treasury will gradually pull money away from the financial firm. 0:16:24.440 --> 0:16:28.200 Once complete, this divestment will reflect almost one billion dollars 0:16:28.200 --> 0:16:31.960 no longer entangled in black Rock money market funds, mutual funds, 0:16:32.040 --> 0:16:35.800 or exchange traded funds ETFs. According to the letter, the 0:16:35.920 --> 0:16:37.960 letter took direct him at e s G, an investing 0:16:38.000 --> 0:16:41.200 practice that penalized industries believed to be harming the environment. 0:16:41.440 --> 0:16:43.880 But e s gs environmental considerations are often made at 0:16:43.920 --> 0:16:48.440 the expense of other fiduciary duties, fidicciary duties. So the 0:16:48.600 --> 0:16:52.320 goal of a president the fdciary duty legally binding the 0:16:52.520 --> 0:16:56.560 role of a board or CEO or um black Rock, 0:16:56.640 --> 0:16:59.200 who now takes these board seats should be a finisiary 0:16:59.280 --> 0:17:03.920 dude to may the company more profitable, basically more profitable. 0:17:04.520 --> 0:17:07.680 Anything they do that is not making them more profitable 0:17:07.760 --> 0:17:11.600 breaks their fidciary duty. That's a legal problem. I would 0:17:11.600 --> 0:17:13.040 like to see them instead of just pulling money out, 0:17:13.040 --> 0:17:15.200 why not file a lawsuit against them? Right, you're not 0:17:15.320 --> 0:17:17.159 doing what's in best interest of the company. You are 0:17:17.280 --> 0:17:19.640 purposely I mean you took over x and and made 0:17:19.680 --> 0:17:22.200 them stop drilling for oil. I mean they're an oil company. 0:17:23.560 --> 0:17:25.480 Uh so they're saying that they do it at the 0:17:25.520 --> 0:17:27.879 expense of the fidiciary duties. Investment firms that use E 0:17:28.000 --> 0:17:31.320 s G investing practice is often referred to quote stakeholder capitalism, 0:17:31.680 --> 0:17:34.680 as black Rock does on its website. So, um, you know, 0:17:34.920 --> 0:17:37.359 I'm scared. I'm worried. I don't like seeing this happen, 0:17:37.440 --> 0:17:40.000 But I'm encouraged by people are waking up and they're 0:17:40.000 --> 0:17:42.720 actually doing something. And my hope is that this will 0:17:42.800 --> 0:17:45.840 bring more attention to what black Rock and Vanguarden states 0:17:45.920 --> 0:17:48.160 we are doing. More people will pull their money away. 0:17:48.200 --> 0:17:50.040 If enough people pull their money away, they're going to 0:17:50.080 --> 0:17:52.520 be forced to change. Hit them where your where the 0:17:52.640 --> 0:17:55.239 pock ubly is you vote with your money, pull your 0:17:55.280 --> 0:17:57.440 money out. If enough people pull their money out, black 0:17:57.520 --> 0:18:00.920 Rock might go shoot. Maybe we should reverse course on 0:18:01.040 --> 0:18:04.359 these stupid decisions that we're doing. At least as I 0:18:04.400 --> 0:18:05.960 hope you're listening, to the Mark Ma Show. We're talking 0:18:05.960 --> 0:18:07.920 about the way the way the world is changing through 0:18:08.040 --> 0:18:11.320 the decentralized revolution, and we're seeing it happen in real time. 0:18:11.359 --> 0:18:12.760 I got a lot more to cover when I come back. 0:18:12.760 --> 0:18:14.600 I'm gonna take a quick break. You don't want to 0:18:14.640 --> 0:18:16.760 miss it, so don't go away. I'm gonna be right back. 0:18:17.480 --> 0:18:19.320 All right, welcome back. You are listening to the Mark 0:18:19.400 --> 0:18:21.959 Ma Show. We're talking about the decentralized revolution. The way 0:18:21.960 --> 0:18:24.520 the world is changing right before our very eyes, through 0:18:24.560 --> 0:18:31.000 the lens of politics, finance, and technology, and they all three, 0:18:31.080 --> 0:18:32.760 they all work together. I like to focus on the 0:18:32.920 --> 0:18:35.920 intersection of those three. But if we look at the finance, UM, 0:18:36.800 --> 0:18:40.159 we can see the financial world is melting down right 0:18:40.200 --> 0:18:42.680 before our very eyes. The Federal Reserve doesn't want to 0:18:42.720 --> 0:18:44.359 know what to do. Central banks around the world are 0:18:44.359 --> 0:18:46.640 blowing up. The Bank of England just had to bail 0:18:46.680 --> 0:18:50.560 out the UK's pension funds. UM, it's getting real out there. 0:18:50.640 --> 0:18:54.080 Let's let's just say that now, as bad as things 0:18:54.240 --> 0:18:57.520 have been getting and we said where there's been numerous 0:18:57.640 --> 0:19:00.159 polls done by University of Michigan, which does of the 0:19:00.200 --> 0:19:03.240 best polls out there, that showed that consumer sentiment is 0:19:03.320 --> 0:19:06.359 like at its worst ever. As a matter of fact, Um, 0:19:06.440 --> 0:19:08.439 they've been doing polls not just consumers, but they've been 0:19:08.440 --> 0:19:13.200 doing polls on on businesses and global CEOs, etcetera. And 0:19:13.280 --> 0:19:15.720 it's been bad. As a matter of fact, some crazy 0:19:15.800 --> 0:19:19.560 numbers were like, um, you know, fifty of small businesses 0:19:19.760 --> 0:19:22.840 expected to laying people off over the next twelve months. Um, 0:19:22.960 --> 0:19:26.560 sixty of small businesses in the transportation sector, we're behind 0:19:26.640 --> 0:19:28.600 on their on their rent payments. I mean, it's been 0:19:28.640 --> 0:19:31.639 bad out there, but it seems like the tide is 0:19:31.800 --> 0:19:35.439 shifting a little bit. Why is the tie shifting, Well, 0:19:35.520 --> 0:19:38.680 the tide is shifting, at least in the sentiment side. 0:19:38.720 --> 0:19:40.159 I'm gonna tell you about that. And I'm gonna tell 0:19:40.160 --> 0:19:42.840 you why I think the sentiment is shifting and why 0:19:42.880 --> 0:19:45.000 it's sent Why it's shifting for me, and maybe it 0:19:45.040 --> 0:19:47.480 could be shifting for you. Now, the world is uncertain. 0:19:47.520 --> 0:19:49.159 We don't know what's going to happen. All we can 0:19:49.200 --> 0:19:52.520 do is see what is happening, what's going to happen, 0:19:52.560 --> 0:19:54.119 and we try to draw some conclusions off that. So 0:19:54.280 --> 0:19:55.960 bear with me. Let's let's take a walk through that. 0:19:56.200 --> 0:19:59.120 So this report came out this week that global CEOs 0:19:59.359 --> 0:20:05.119 expect impending recession to be short and sharp. Quote poll shows, 0:20:05.320 --> 0:20:10.600 So global CEOs expect the anticipated recessions, so they're anticipating 0:20:10.640 --> 0:20:15.000 a recession. Um. I mean, you know, the Biden administration 0:20:15.119 --> 0:20:17.600 changed the definition of a of a of a recession, 0:20:17.640 --> 0:20:19.800 so maybe maybe we won't have one in the classical 0:20:19.920 --> 0:20:23.000 sense any anyway, or in the technical definition that they 0:20:23.040 --> 0:20:26.040 would say. But global CEOs are anticipating a recession in 0:20:26.119 --> 0:20:29.560 the next twelve months, but more than half of them 0:20:29.680 --> 0:20:34.879 anticipated will be like I said, quote mild and short. Um. 0:20:34.960 --> 0:20:38.639 But these business leaders have all expressed more confidence since 0:20:38.760 --> 0:20:41.200 the start of the year that there will be growth 0:20:41.440 --> 0:20:45.359 prospects in the next three years. So it's interesting to 0:20:45.440 --> 0:20:49.440 think about that. So about half of them expect that 0:20:49.520 --> 0:20:52.879 there's going to be a recession, if if we're not 0:20:52.880 --> 0:20:54.359 already in one, I mean, we've had two quarters of 0:20:54.440 --> 0:20:58.520