Speaker 1: Up next, Out Loud with Joanno called Part of the
Speaker 1: Beginning with Scheam Network. Welcome back to outllyw with Gianno
Speaker 1: Called Well for the first episode of My Guest Today
Speaker 1: to kick off the new Year's the one and only
Speaker 1: Charles Pain. Charles is the host of Making Money with
Speaker 1: Charles Paying on the Fox Business Network. He's also a
Speaker 1: best selling author. In his latest book, it's called Unstoppable Prosperity.
Speaker 1: He has a wealth of knowledge about the economy and
Speaker 1: how to put more money in your pocket. In fact,
Speaker 1: he's the founder and CEO of Wall Street Strategies at
Speaker 1: independent stock market research Company. He's a veteran of the
Speaker 1: financial industry and he's also a veteran of the U S.
Speaker 1: Air Force. I'm happy to welcome Charles Pain to the show.
Speaker 1: Brother Charles Pain, thank you for joining Out Allow with
Speaker 1: Gianno Called And it's such a pleasure to have you
Speaker 1: on today. Thank you, thank you very much, as a pleasure.
Speaker 1: Absolutely Before we get into politics and the economy, I
Speaker 1: want to ask you about a year that I think
Speaker 1: we're all we're all happy to leave behind. And as
Speaker 1: we entered this new year and looked back at the
Speaker 1: last twelve months, what did mean to you? Um, how
Speaker 1: do you remember it? Ward were the lessons political, economical, cultural,
Speaker 1: and otherwise? How what should we learn from such a
Speaker 1: chaotic year? You know, there's so many things, but if
Speaker 1: I had to put something at the very top, I
Speaker 1: think we should learn that we can survive, you know,
Speaker 1: that we that we can endure immense challenges. You know,
Speaker 1: because I think we got into a place, certainly in
Speaker 1: America where we were pretty comfortable. You know, I listen,
Speaker 1: I I remember, and I joined the military. You know,
Speaker 1: I wanted a policeman, security policeman, and there was a
Speaker 1: chance if where was the war, I could have gone
Speaker 1: at war, but there wasn't. You know. Of course the
Speaker 1: Afghan stuff came after that. But the thing is is
Speaker 1: that we've had a pretty long stretch without really being
Speaker 1: challenged as a nation. And then you know, even some
Speaker 1: people individually, because this was there was a year that
Speaker 1: I don't know how you couldn't have had someone that
Speaker 1: you knew, the someone in your only that was that
Speaker 1: that had COVID nineteen or maybe passed away from it,
Speaker 1: so that that hadn't no necessarily they had you know,
Speaker 1: limited economic barriers in terms of that and then what
Speaker 1: I was I was I was also disappointed because I
Speaker 1: had always said to people, you know, the country was
Speaker 1: so divided. I always said, the only thing that could
Speaker 1: probably ever unite us as a country with an invasion
Speaker 1: by martians. Uh. The number two things would be an
Speaker 1: invasion by a virus, unknown virus that started in a
Speaker 1: different country. And unfortunately number two didn't work. So on
Speaker 1: one hand, I say, we applaud ourselves for making it
Speaker 1: through this. It was very tough, uh, in different ways
Speaker 1: for for different people, but as there's no way you
Speaker 1: didn't come out unscathed somehow, and yet it didn't make
Speaker 1: us more united. In fact, in many ways we're more divided.
Speaker 1: So on an individual level, it's it's let's give ourselves
Speaker 1: around of applause. As a country, we need to probably
Speaker 1: be more introspective and concerned the division. We know a
Speaker 1: lot had to do with our politics, the politics of
Speaker 1: a year, not necessarily the virus, although we saw mayors
Speaker 1: and governors and local officials across the country used it
Speaker 1: as a political weapon for some and some even believed it.
Speaker 1: And you know, we've seen reports on it, reporters saying
Speaker 1: that elected officials were using it to cause a real
Speaker 1: destruction disruption in the election that was going to benefit
Speaker 1: Joe Biden. Do you agree with that assessment. I agree
Speaker 1: with that, and I think even more worrisome than than
Speaker 1: local government officials, they even national no matter who they are,
Speaker 1: because politicians are politicians. I think the worst players in
Speaker 1: this were the media. By far. Was a year of
Speaker 1: the media just removed all pretense of their animosity and
Speaker 1: not an animosity toward President Trump and an animosity toward
Speaker 1: anyone who might admire President Trump, who might have voted
Speaker 1: for President Trump. They removed it. I think it always existed,
Speaker 1: but they removed all pretense and went completely the war
Speaker 1: with those people. And there's a consequence. It made it
Speaker 1: made that nation weaker. You know, every story can't be
Speaker 1: how dumb we are. Oh, everyone's doing the COVID thing
Speaker 1: better than we are then of course. Uh. I saw
Speaker 1: an article today on Japan, you know, and how awful
Speaker 1: COVID has spiked in Japan. There's so much smarter than us,
Speaker 1: because their leaders so much smarter. It's all the self doubt,
Speaker 1: all of this stuff. I mean, we're not gonna know
Speaker 1: all the ins and outs about this whole COVID nineteen
Speaker 1: for many years after it's over. We may learn some
Speaker 1: things that will shock us surprises, we may learn some
Speaker 1: things we thought we're right, we're wrong, and vice versa.
Speaker 1: But the point is, you know, the play by play
Speaker 1: every single day was designed to specifically make anyone who
Speaker 1: didn't think the way that the media thought, or anyone
Speaker 1: who might have given President Trump any credibility at all.
Speaker 1: It was a complete war against them. And you know,
Speaker 1: the irony is a continuous right, So the same people
Speaker 1: that said President Trump was misleading, not smart or whatever
Speaker 1: for even suggesting there could be a vaccine before the
Speaker 1: end of the year are now complaining that is not
Speaker 1: being distributed properly. So it never stops, right, it never so.
Speaker 1: I think the media by far, by far was worse
Speaker 1: than politicians. I come to expect hypocrisy and phoniness from politicians,
Speaker 1: but we saw from the media. It breaks my heart.
Speaker 1: I mean, they went to war with with with people
Speaker 1: who didn't think like them. So the biggest losers was
Speaker 1: the media in your view, I think the American public
Speaker 1: because we were being so we aren't being served by
Speaker 1: these major institutions that we to a degree in power, right,
Speaker 1: we empower these politicians, uh, you know, the media. So
Speaker 1: I think we were losers in that way, but I
Speaker 1: think we were also winners in a sense that from
Speaker 1: what I loved about individuals. And one of the things,
Speaker 1: ironically and even reflected in the stock market was there
Speaker 1: was sort of an internal epiphany I think in America
Speaker 1: that there was a simpler time, a time when we
Speaker 1: were more self reliance. And it really felt like we
Speaker 1: went for that last year, like you know, you know,
Speaker 1: we ran out of Mason jars. In America, people were
Speaker 1: making preservatives. Uh, the people were sew in close, and
Speaker 1: they wanted to move out to into the suburbs or
Speaker 1: out to the country, and they wanted to get a car,
Speaker 1: they wanted to drive themselves. Just there was a sort
Speaker 1: of many independence movement also, and I think that was
Speaker 1: a sort of either direct or indirect rejection of these
Speaker 1: institutions that we had come to think we're on our side,
Speaker 1: and I think many people believe they're not, you know,
Speaker 1: And and that's such an interesting perspective. And to that point,
Speaker 1: I have a friend who had lost her job and
Speaker 1: she was trying to figure out how she was gonna
Speaker 1: make it, and she started a business backup that she
Speaker 1: had previously in healthcare, and she calls me up one day.
Speaker 1: It was a Friday. I remember the day, and she
Speaker 1: was crying and I said, what's going on, what's wrong?
Speaker 1: And she said, I just want to thank you for
Speaker 1: always being a listening year and supporting me because you're
Speaker 1: looking at one of America's newest millionaires or rather talking
Speaker 1: to and I was like wow, And it was just
Speaker 1: it was just that determination that there was so much
Speaker 1: opportunity out here and you had no choice. You couldn't
Speaker 1: rely on the ever meant to save You couldn't rely
Speaker 1: on getting a new job because a lot of corporations
Speaker 1: were slashing jobs left and right, so many people unemployed.
Speaker 1: But then that's an ingenuity where someone says, here's an opportunity,
Speaker 1: I'm gonna go after it with everything within me. So
Speaker 1: I think that's great, and that's one of the best
Speaker 1: things that came out of last year for so many people.
Speaker 1: I think I haven't looked in a two months, uh,
Speaker 1: you know, because the data is a little bit delayed,
Speaker 1: but the number of entrepreneurs created in was mind bottling.
Speaker 1: It was absolutely mind bottling. The amount of people and again,
Speaker 1: a lot of them had to write. You know, they
Speaker 1: a lot of them have their back to the wall.
Speaker 1: But I think a lot of people also said, this
Speaker 1: is my chance to go ahead, and and and you know,
Speaker 1: because the concept of waiting, the concept of comfort, all
Speaker 1: those things were pushed aside. All those things that allow
Speaker 1: us to procrastinate actually were raced. And if you really
Speaker 1: wanted to do something and you kept putting it off,
Speaker 1: then you finally said I'm gonna do it. If you
Speaker 1: really wanted to try something, but you were kind of comfortable,
Speaker 1: you know, every now and then you get upset with
Speaker 1: the boss and say, for for sure, this time I'm
Speaker 1: putting and I'm gonna start my own business. Something may
Speaker 1: have happened on the next week, and you know, you
Speaker 1: put it off. Everything those things that we were putting off,
Speaker 1: those things we were allowed to procrastinate, were made easier.
Speaker 1: And the same thing with the stock marketing. Millions, millions,
Speaker 1: millions of people created stock market accounts last year, millions.
Speaker 1: And the beautiful thing is they did better than wall streets.
Speaker 1: It was really it was just time people took control
Speaker 1: of their lives, you know. And I love it. I
Speaker 1: just love when people pull themselves up by their own bootstraps,
Speaker 1: and they're no longer afraid or their backs have been
Speaker 1: even if their backs have been pushed against the wall,
Speaker 1: and they felt like there was the only alternative they had,
Speaker 1: they did it and that was important. And I think
Speaker 1: that's the key word. When a person feels like they
Speaker 1: have no no choice. That's I think when a lot
Speaker 1: of people truly succeed. Sticking with the main headline of
Speaker 1: which was coronavirus pandemic and latest COVID relief package, which
Speaker 1: is now law, told us about nine billion and include
Speaker 1: six hundred dollars stimulus checks to millions of Americans. However,
Speaker 1: President Trump, many Democrats, and some Republicans want to increase
Speaker 1: checks to two thousand dollars, but Senate Majority Leader Mitch
Speaker 1: McConnell has blocked the bill. And we know he's saying
Speaker 1: that there's no realistic path. And honestly, and you know
Speaker 1: we've been on there and we've talked about it, I
Speaker 1: think Republicans have become derelict and their duties to the
Speaker 1: American people. This isn't welfare, this is their tax dollars.
Speaker 1: There should go back to them three trillion dollars and
Speaker 1: taxes collected and payroll, income tax, and corporate tax every year.
Speaker 1: And yet two thousand dollars, according to Mitch McConnell, is
Speaker 1: too much and is somehow socialism when you've got people
Speaker 1: truly struggling and this is their money, This is no one,
Speaker 1: no one's asking for a hand out. Nothing like this
Speaker 1: has ever happened in this country. How dare you not
Speaker 1: give the American people their money back? And I think
Speaker 1: the Republicans have really disgraced themselves in this moment. A
Speaker 1: lot of them have, but you know a lot of
Speaker 1: them have been waiting for this moment. You know, let's
Speaker 1: face it, there the establishment, a few of them, we're
Speaker 1: so disgruntled that they, you know, either wrote books or
Speaker 1: went often created things like the Link and Project. And
Speaker 1: then some of them hunk tough to get what they
Speaker 1: could out of the President Trump, Supreme Court justices, federal judges,
Speaker 1: removal regulations, lower taxes. So some played the game. Uh,
Speaker 1: and now of course they feel like they don't have
Speaker 1: to play the game anymore. But here's what they're missing.
Speaker 1: The voters, Republican voters have already designed it. And this
Speaker 1: whole longing, this whole longing for you know, this sort
Speaker 1: of quasi intellectual establishment Republicans that ran everything for a
Speaker 1: long time is over, and I hope it stays over.
Speaker 1: Republican voters, just like Democratic voters for years, voted against
Speaker 1: their own self interests. They voted for years in ways
Speaker 1: that are rich the ultimate folks, the riches of the rich.
Speaker 1: They voted in ways that actually helped to send their
Speaker 1: jobs overseas. They voted in ways that actually, you know,
Speaker 1: help their communities become drug written. They voted against their
Speaker 1: own self interests. And and mostly out of following taglines, hey,
Speaker 1: that's free market principles. What the hell is that? And
Speaker 1: so the same way that Democrats, Democrat voters vote against
Speaker 1: ceneral self interests for decades, Republican voters have and they
Speaker 1: had an epiphany. And what I'm praying is that it
Speaker 1: doesn't fade away. And this move by Ms McConnell is
Speaker 1: so confusing, it's so it's so heartbreaking, and for him
Speaker 1: to use the term socialism, I'm so confused by that.
Speaker 1: You know, again, it is means tests that. In other words,
Speaker 1: if you at seventy five dollars, it's it starts to
Speaker 1: go away. And ninety ninety thousand goes away completely. So
Speaker 1: it's means tests that you know, I'm not I wouldn't
Speaker 1: get a check. And here's the irony when you go
Speaker 1: through those fifty six hundred pages, there are things in
Speaker 1: there that benefit very rich people. Very rich people, by
Speaker 1: the way, who took a big chunk of the p
Speaker 1: p P program. One percent of the recipients got the money.
Speaker 1: There were billionaires who were able to have each individual
Speaker 1: franchise location up their billion all our operation get money.
Speaker 1: And oh, by the way, in this new bill, they
Speaker 1: get to not only not pay it back, they get
Speaker 1: to take a tax break on any costs that were
Speaker 1: associated with getting the money. So so if I hired
Speaker 1: someone or I kept someone on a bought a new laptop,
Speaker 1: I can write that off. So the billionaires that that
Speaker 1: Ms McConnell is protecting, they are actually making money. You
Speaker 1: want to talk about corporate chrony ism, corporate socialism, that's
Speaker 1: the kind of thing that's disgusting. That's the kind of
Speaker 1: thing that that makes the Republican Party weaker and gives
Speaker 1: ALC a larger platform to to to to talk from
Speaker 1: because it is a legitimate great I mean, I thought
Speaker 1: he would at least wait until the dust settled to
Speaker 1: show his true colors. But to do it now unless
Speaker 1: you know, listen, maybe he's playing some form of chess
Speaker 1: I've never seen before, and and maybe at the last
Speaker 1: minute it would be sort of like you know, the
Speaker 1: old Greek plays. I don't know how to say an
Speaker 1: a latinists do ask mccanna something like that that goes
Speaker 1: to the machine, you know, the old Greek plays, and
Speaker 1: that that at the very end it looked like it
Speaker 1: could happen, and then they they have a guy on
Speaker 1: a love you on a rope come down right and
Speaker 1: save the day. And the whole thing has been the
Speaker 1: basis of of plays in theater for forever. You know,
Speaker 1: I guess maybe who knows, Maybe on January four, a
Speaker 1: ghost will come out the machine and Ms McConnell will
Speaker 1: be holding the rope and somehow I won't say, oh
Speaker 1: my god, he's brilliant, brilliant. It does care, but I
Speaker 1: don't I don't think it did happen. Yeah, I agree,
Speaker 1: I don't think that that's gonna happen either. And you
Speaker 1: know what's so interesting about it is part of the
Speaker 1: reason that Trump was so successful in sixteen is because
Speaker 1: he was raising issues that we often talked about at
Speaker 1: our kitchen table with politicians, whether they be Democrats and Republicans.
Speaker 1: I mean maybe a Bernie Sanders to a degree. I
Speaker 1: talked about jobs going overseas. Uh, we gotta take care
Speaker 1: of America first, and all these different things. But what
Speaker 1: we see in this this latest bill is Americans aren't
Speaker 1: being taken care of first. It's that exact opposite. And
Speaker 1: you know, to the point of the seventy five thousand dollars,
Speaker 1: the ninety thousand dollars in terms of the means test,
Speaker 1: what I have a big issue with is if last
Speaker 1: year I made ninety thousand dollars a hundred thousand, a
Speaker 1: million dollars, but this year I'm broke, Uh, What's what's
Speaker 1: the point? Like, why am I being counted out of
Speaker 1: out of this? But yet, as you mentioned, so many
Speaker 1: of these billionaires, in big time guys who somehow made
Speaker 1: more money in this economy, they're being well taken care of.
Speaker 1: It is really a disgraces, is what I think. Now.
Speaker 1: I agree you can't use the two thousand and nineteen
Speaker 1: tax returns to the two thousand and eighteen tax returns
Speaker 1: because things have changed dramatically, and and ultimately the bottom
Speaker 1: line is it's it's just not a realistic It's just
Speaker 1: not realistic. Who was it? Another Republican senator tweeted the
Speaker 1: other day, Ron Johnson, I think someone I got so upset.
Speaker 1: I tweeted back at him, and you know, he was
Speaker 1: complaining about the first stimulus package, and he says, well,
Speaker 1: you know, a lot of money went to savings, a
Speaker 1: lot of money went to pay down bills, so people
Speaker 1: didn't spend the money. So it was a failure. And
Speaker 1: I'm sating to myself, is this guy? Is he? What
Speaker 1: the hell are you know? Uh? I think my tweet
Speaker 1: went something along the line, we are not, you know,
Speaker 1: working blind working. It's right like. And here's the thing.
Speaker 1: From an economic point of view, I love that. I
Speaker 1: love to see households pay down their debt. I love
Speaker 1: to see them put money in savings. That means that
Speaker 1: they have a stronger balance sheet coming into the new year.
Speaker 1: And you know what eventually happens with that strong balance sheet.
Speaker 1: So'll buy a house, right, they'll buy a car, They'll
Speaker 1: make an investment. I mean this whole idea. He sounded
Speaker 1: more like Nancy Pelosi, a few years ago when she
Speaker 1: was arguing for for welfare payments and food stamps and
Speaker 1: and expanding those programs, she said they had a multiplier effect.
Speaker 1: And here's the thing. No one got offended, right, No, no,
Speaker 1: nobody who was the recipient of it. But she was
Speaker 1: more or less saying, if you give poor people a
Speaker 1: dollar and food sam still spend a buck fifty, right,
Speaker 1: So had a multiplier effect. And so Ron Johnson it
Speaker 1: sounds like the same thing, like he just wants people
Speaker 1: to be dumb. Okay, you know, you give me a
Speaker 1: buck and I'll go out and spend a buck fifty up,
Speaker 1: put a dollar fifty on my credit card for every
Speaker 1: dollar you give me. You know, I let the American
Speaker 1: people would be smart. I thought it was brilliant what
Speaker 1: they did. We saw a bit of v shape recovery
Speaker 1: after that money went out in every single sector. We
Speaker 1: saw it all across the board everywhere. And and so
Speaker 1: what you know, let them if somebody can pay down
Speaker 1: their bills right now, that's what I want them to do.
Speaker 1: I don't want them to go out and and and
Speaker 1: go on a shopping spree because I know ultimately, ultimately
Speaker 1: that money will circulate in the economy in a smart
Speaker 1: way that would benefit those households so that they can
Speaker 1: actually enrich themselves in their families in the long term
Speaker 1: and not just be pawns of a government that wants
Speaker 1: them iniferlate them. Yeah, speaking of the economy, we gotta
Speaker 1: go to the quick break to pay our bills. But
Speaker 1: we'll continue this conversation after the break and looking at
Speaker 1: the economic fallout of the coronavirus. More broadly, what are
Speaker 1: your thoughts on the lockdowns to so many Americans have
Speaker 1: endured where they are mistake and how do you know
Speaker 1: we weigh the public health versus the economic well being
Speaker 1: of individuals? Well, I think that draconian the ham fistedness
Speaker 1: of the lockdown are definitely a mistake. And and that's
Speaker 1: one of the things that even now in real time
Speaker 1: you can kind of you can see things. Uh, the
Speaker 1: states with the highest unemployment are the states with the
Speaker 1: most Dreconian dropped lockdown rules are the states with the
Speaker 1: most deaths are the states where people are leaving. It's
Speaker 1: something that is not adding up right, I Mean it's like, okay,
Speaker 1: so if you've had us on these tough lockdowns for
Speaker 1: this long and our cases are still where they are
Speaker 1: a place like New York State, which is number number
Speaker 1: two in depths per capita, you know, per one hundred thousand,
Speaker 1: uh number number two, and unemployment. People are fleeing, people
Speaker 1: are hopeless, people are committing suicide, people are depressed. There
Speaker 1: had to be a smarter, smarter way about this, and
Speaker 1: I think ultimately a lot of it has to do
Speaker 1: with just letting people saying, listen, we trust you'll do
Speaker 1: the right thing, but we have to learn how to
Speaker 1: live with this because we want to live. You know,
Speaker 1: it's like the British and World War Two. The bombings
Speaker 1: will comb they you know, the go down in the
Speaker 1: subways wherever they were, and when when they weren't around,
Speaker 1: they got up and wouldn't work. Now, I know it's
Speaker 1: a different kind of thing, but you're living for something,
Speaker 1: and again it's one of these things. I think when
Speaker 1: we do all the final analysis, we're going to find
Speaker 1: out that some of these lockdown measures were just far
Speaker 1: to draconian. Some of them were seemed tunitive. You know,
Speaker 1: if New York City says that restaurants are responsible from
Speaker 1: one point four three percent a coronavirus spread, then why
Speaker 1: would they be closed. And by the way of that
Speaker 1: one point for three percent, overwhelmingly that's employee to employee,
Speaker 1: Then why would you close them? You know? And so
Speaker 1: there's just been no rhyme or reason. The children, you know,
Speaker 1: the children transmitting to adults, it's just so low. You know,
Speaker 1: you start to get into numbers that you have an
Speaker 1: easier chance of getting hit in the head by branches
Speaker 1: falling off retreat, you know, when you start to get
Speaker 1: very granul granular with some of this stuff. We know
Speaker 1: how deadly it is. But I can tell you firsthand
Speaker 1: the psychological, economic, and even physical toll from the lockdowns
Speaker 1: has been underappreciated by the people in power. And it's
Speaker 1: unfortunate because it has been. It's in and of itself,
Speaker 1: it has been a killer. Yeah, I absolutely agree with that.
Speaker 1: And I think you see New York State in California
Speaker 1: and you see how restrictive they are and how people
Speaker 1: are flowing out to Florida, which is where I am
Speaker 1: right now, and they the governor RHNDA sent and said, hey,
Speaker 1: we're gonna keep things open here because poverty kills too.
Speaker 1: And that's such an important message that I think a
Speaker 1: lot of these politicians have forgot isolation kills also absolutely
Speaker 1: now it's it's easy to forget that. Before the coronavirus hit,
Speaker 1: the U s was enjoying a great economy under President Trump.
Speaker 1: Economic growth was strong and consistent, while unemployment was low.
Speaker 1: The lowis on record for Blacks hispanics. Can you discuss
Speaker 1: how strong the economy was and why I was doing
Speaker 1: so well? Which policies of the Trump administration was, you know,
Speaker 1: most effective and should be continued if you know there
Speaker 1: was actually an opportunity. We know Joe Biden's taken offer.
Speaker 1: So what do you think first and foremost? When it
Speaker 1: comes to unemployment in the ployment rate, people need to
Speaker 1: understand there are six ways of measuring that by the
Speaker 1: Bureau of Labor Statistics. The one that the media uses
Speaker 1: is called the youth three. And I have some problems
Speaker 1: with the youth three because when people leave the labor force,
Speaker 1: they're no longer counted. And so when President Obama says
Speaker 1: the unemployment went down into his watch, it didn't really
Speaker 1: go down. You have millions upon millions upon millions of
Speaker 1: people who gave up so they were no longer counted.
Speaker 1: You know, Jiano, if if you and I and and
Speaker 1: and some friends. If ten of us are on a
Speaker 1: ship and we got stuck on a deserted island and
Speaker 1: we said we're not we're not sure when we're gonna
Speaker 1: be Um, you know when we're gonna be rescued. So
Speaker 1: let's all divvy up some chores and do some things,
Speaker 1: and and then you know, all of his works, so
Speaker 1: you have full employment after a few weeks. If someone
Speaker 1: and a couple of guys got discouraged and says, well,
Speaker 1: you know what, you know, we're not gonna work, and
Speaker 1: so now you have eight people working, the federal government
Speaker 1: will still say you had full employment because though you know,
Speaker 1: two of them weren't working because the other two have
Speaker 1: just dropped out of the labor force. So now there's
Speaker 1: another way that happens is you know, there's an authentic
Speaker 1: way when people more people get jobs. And the reason
Speaker 1: I will have to bring that up is because when
Speaker 1: you have this discussion, someone invariably says, well, unemployment went
Speaker 1: down under Obama, it went down in the Trump in
Speaker 1: a different way. More people came back to the labor
Speaker 1: force and got jobs. That is what happened, and that
Speaker 1: is so critical for everyone to understand it wasn't that
Speaker 1: people left and were no longer counted. Millions of people
Speaker 1: came back to the labor force and they got jobs,
Speaker 1: and then the unemployment gap between blacks and whites narrowed
Speaker 1: to as smallest smallest ratio, it's smallest gap ever in
Speaker 1: November two thousand and nineteen, coming into two thousand and nineteen.
Speaker 1: Poverty rates for Blacks and Hispanics who are at an
Speaker 1: all time low and all time low coming into two
Speaker 1: thousand and twenty, coming into in two thousand and twenty,
Speaker 1: Monthly wages versus a year earlier, we're averaging well over
Speaker 1: three about three point four percent. Three point four or
Speaker 1: five percent for blue collar workers doesn't sound like a lot.
Speaker 1: It hadn't been done for over a decade. For over
Speaker 1: a decade, wages were outpacing inflation. Home ownership at this
Speaker 1: very moment, Hispanic homeownership is the highest it's ever been.
Speaker 1: Black homeownership is the highest as it was since I
Speaker 1: think two thousand and eight, right now, even after during
Speaker 1: the pandemic. So the point is, we were an economic juggernaut.
Speaker 1: We were an economic juggernaut. And here's an interesting thing.
Speaker 1: The two things that were kind of slowed down a
Speaker 1: little bit late last year, household formation a little bit,
Speaker 1: and manufacturing a little bit. The first two months three
Speaker 1: months of the year, they became juggernauts. So that's what
Speaker 1: you call in financial terms. Those were those are headwinds,
Speaker 1: because you know they were gone in they're kind of
Speaker 1: pushing us back. They actually became tell winds. We were
Speaker 1: firing on all cylinders. I think would have been an
Speaker 1: economic year unlike anyone alive had ever seen. We were
Speaker 1: that much of a juggernaut. And that, by the way,
Speaker 1: is one of the reasons why we did have a
Speaker 1: V shaped recovery, because some of that was muscle memory,
Speaker 1: some of that was momentum that was still in play.
Speaker 1: And then I think we could pick back up on
Speaker 1: that if if some of these regulations, if not too
Speaker 1: many of them are races. We know a lot of
Speaker 1: them will be. Certainly we don't want the tax policies
Speaker 1: erased or reversed. But then there's this one thing called
Speaker 1: animal spirits, and it's real, and it's just an enthusiasm
Speaker 1: generating more enthusiasm, and it can be an amazing, an
Speaker 1: amazing virtue as cycle. And that happened immediately upon the
Speaker 1: election of President Trump. You go back to November two
Speaker 1: thousand and sixteen, immediately small business optimism, it had the
Speaker 1: biggest one month jump in history. A month after the election.
Speaker 1: The National Association of home Builders, their data went through
Speaker 1: the roof traffic for homes UH and positive after being
Speaker 1: negative for over a decade. It happened instantaneously. You can
Speaker 1: talk about what you do and removing regulations and lowering taxes. Ultimately,
Speaker 1: people have to buy into the program, though, and it
Speaker 1: was just almost like spontaneous combustion. Animal spirits erupted in
Speaker 1: this country and people started to go out and do
Speaker 1: things and make things happen. And when you get that going,
Speaker 1: when that happens, when people feel like they can do it,
Speaker 1: they do it and it's infectious. Yeah. So, in other words,
Speaker 1: the story of the media was telling was duplicitous. They
Speaker 1: wanted to create a narrative that was going to make
Speaker 1: people think differently. But people were very confident in the economy,
Speaker 1: oh they were. And the media didn't talk economy a want.
Speaker 1: The only time you would get a media comment on
Speaker 1: the economy before two thousand and twenty was to sort
Speaker 1: of say, well, you know, but there's still poor people. Yeah,
Speaker 1: you know what it's it's an issue. It's been an
Speaker 1: issue from the very beginning, from the from the dawn
Speaker 1: of time, for every single country in the world. It
Speaker 1: has been an issue. But were we moving in the
Speaker 1: right direct action where they're fewer poor people? Were poor
Speaker 1: people opportunistic? And by the way, you know, don't compare.
Speaker 1: You know that when they compare well, the poor people
Speaker 1: in America, you know to the rest of the world.
Speaker 1: You know, around the world. The way you measure poverty
Speaker 1: as a dollar ninety cents a day, it's how they
Speaker 1: measure poverty in this country begins at twenty seven thousand dollars.
Speaker 1: So you know, listen, we want everyone in this country
Speaker 1: to do very well. And so, but that was those
Speaker 1: are the only articles you read. And then of course
Speaker 1: the only other articles you would read was about the
Speaker 1: plight of the farmer because of Trump's crazy trade war
Speaker 1: with China. So uh yeah again, yeah, that's interesting because,
Speaker 1: for instance, so evanage, which was the main product that
Speaker 1: China bias from our farmers. Those prices peaked in two
Speaker 1: thousand and fourteen, they were down fifty when President Trump
Speaker 1: has been inaugurated. I did not recall a single story
Speaker 1: above the full about the plot of the farmers during
Speaker 1: President Obama's administration, not one I googled it. I tried,
Speaker 1: I look forward. I'm sure maybe somewhere somewhere, and you know,
Speaker 1: and maybe in the Butte, Montana Harold, you know, but
Speaker 1: I didn't see it in any major newspapers. But you know,
Speaker 1: of course that was something all of a sudden, you know,
Speaker 1: the editors at the Washington Post so worried, so concerned
Speaker 1: about the American farmer. And how many times did you
Speaker 1: turn on the TV and see some news crew out
Speaker 1: there talking to some farmer. Trump ruined my business and
Speaker 1: Chinese with everything. For me, that nothing, What the hell
Speaker 1: is going on here? Uh? You guys have said any
Speaker 1: cruise out there before the voters, Well, they were trying
Speaker 1: to make them hate. But let me ask you, when
Speaker 1: was the last time you seeing the farmer being interviewed again?
Speaker 1: To your point, of course, that tells you that that
Speaker 1: so he beans, No, there were so he beans are
Speaker 1: right now, they're at the highest level I think since
Speaker 1: two thousand and thirteen. Oh, by the way, farm income,
Speaker 1: farm income was higher every single year the Trump was
Speaker 1: in office. Then in two thousand and sixteen, you don't
Speaker 1: read about it anymore. So the point is is like
Speaker 1: when it came to the economy, just like when it
Speaker 1: came to farmers, the media didn't care unless it was
Speaker 1: unless they were able to portraye in the negative light.
Speaker 1: And of course you never stopped reading about those articles
Speaker 1: because obviously when you shut down entire economies, when you
Speaker 1: have the strange virus that comes from nowhere, there's gonna
Speaker 1: be serious economic damage. Yeah. Absolutely, And I'm reminded of
Speaker 1: a scripture to something you said, the poor will be
Speaker 1: with us always is what the Bible says, and I
Speaker 1: want to pick up from there in a moment after
Speaker 1: a word from our sponsor. But in terms of farmers,
Speaker 1: really quick now, some have argued that it's the government
Speaker 1: aide which have kept him afloat, not necessarily their production. Yeah,
Speaker 1: it doesn't matter. By the way they did government. Every year,
Speaker 1: every administration gives them government. Trump did give him more
Speaker 1: than most. It doesn't matter. That wasn't the point. The
Speaker 1: point was that they were deliberately targeted by China. You know, imagine,
Speaker 1: you know, imagine if if we had a beef Canada
Speaker 1: and they invaded North Dakota. You know, it's it's the
Speaker 1: China has been robbing, stealing, destroying America from within and
Speaker 1: without for a long time. None of these politicians had
Speaker 1: the guts, none of these corporations had the guts to
Speaker 1: stand up. Many of these companies would actually go to
Speaker 1: China and let them steal their intellectual projects just for
Speaker 1: and so China does as they say, well, well we'll
Speaker 1: just stop doing business with farmers. And instead of the
Speaker 1: media saying, listen, this is despicable on China's part. Let's
Speaker 1: rally around the farmers and let's support them, they tried.
Speaker 1: They fell right into China's trap, you know, and they
Speaker 1: tried to make it a negative thing. So again, it
Speaker 1: doesn't really matter. The bottom line is that even even
Speaker 1: before and two thousand nineteen, farm income in two thousand seventeen,
Speaker 1: two thousand and eighteen, certainly two thousand two twenty was higher,
Speaker 1: and farm income in one will be through the roof
Speaker 1: the amount from Phase one. China hasn't you'll read the headline,
Speaker 1: China hasn't bought everything they promised. Tell you what, my man,
Speaker 1: They had bought records amount records and they will is
Speaker 1: gonna be a hell of a year for the American farmer.
Speaker 1: The media might give Joe Biden the credit, but there
Speaker 1: was all the hard work that Trump did, and I'm
Speaker 1: glad they supported him because they were smart enough to
Speaker 1: understand they were pawns in a greater game. So they
Speaker 1: didn't turn on Trump. They didn't listen to the media
Speaker 1: because they know the media will never write another story
Speaker 1: about the farmers unless they can find a negative angle
Speaker 1: against the Republican And now speaking of China, and you know,
Speaker 1: there's been reporting that suggested the virus originated there, and
Speaker 1: we we've seen a number of stories written on that.
Speaker 1: But there was a study. The USC did a study
Speaker 1: and they said that in the worst case scenario, that
Speaker 1: GDP growth that the United States could have had will
Speaker 1: be three times in terms of the losses, three times
Speaker 1: worse than China. And there was also some something that
Speaker 1: I was reading the show that China would dominate the U.
Speaker 1: S economy by I'm intrigued. What do you think about this?
Speaker 1: Is it is it possible that we can still be
Speaker 1: the world's Hegeman? Well, I think I absolutely The answer
Speaker 1: is absolutely yes. I mean, these are estimates, these are guestimates.
Speaker 1: A lot of this really will depend on whether we
Speaker 1: sell our souls or not. You know, here's the thing
Speaker 1: when when Nixon send Kissinger over, I want to say,
Speaker 1: and I don't want to get this number wrong, and
Speaker 1: I've done some deep research on it, and I was
Speaker 1: writing about this and talking about this room in the
Speaker 1: last ten years are longer. I want to say, China,
Speaker 1: the average person in China was making like four or
Speaker 1: five hundred bucks a year, maybe maybe a thousand. You're
Speaker 1: you're too young to remember this actress Sally Strugg. She
Speaker 1: was on this show All in the Family. Yeah, well,
Speaker 1: she used to come on TV and literally cry and
Speaker 1: these commercials late night TV and beg Americans to send
Speaker 1: China some money, please help. We've got to help them.
Speaker 1: I mean, she'd be in tears, and so we opened
Speaker 1: up relationships with them. Then of course, ultimately we let
Speaker 1: them in in a world trade organization, and all they've
Speaker 1: done is loots, still, lie, cheat, They've got slave labor.
Speaker 1: And by the way, this gets back to some of
Speaker 1: those Republicans, right, who thinks I think it's okay, Hey,
Speaker 1: if China wants to sell still at a cheap price,
Speaker 1: why not let them do it. They're dumb. Yeah, they're
Speaker 1: dumb until the nut dumb. You know, there's the's an
Speaker 1: old Twilight Zone episode called the Cookbook. Right, So, while
Speaker 1: you think they're doing something like do you ever say
Speaker 1: you said, why would someone sell us something so cheap?
Speaker 1: They can't be making money on it because as soon
Speaker 1: as they put all of our still companies out of business,
Speaker 1: they can raise their prices to whatever the hell they
Speaker 1: want or keep it from us. So as far as
Speaker 1: China passing us, that's always been their goal. President She
Speaker 1: has been really loud about it with the China program.
Speaker 1: His predecessor was quiet about it. He didn't want to
Speaker 1: brag about that or let the world now. But there's
Speaker 1: no way it can happen if we're smart, if we
Speaker 1: if we really keep going down this path that President
Speaker 1: Trump put us on. You know, they're not innovators, think
Speaker 1: of everything that really they're great copiers, the great thieves,
Speaker 1: you know, I mean so, but you know, they're not
Speaker 1: innovating things. So we have to make sure that they
Speaker 1: don't get the source code, We have to make sure
Speaker 1: that they don't ill everything, and we certainly need to
Speaker 1: be on guard for them selling us stuff that they've
Speaker 1: stolen from us in the first place, and rewarding them
Speaker 1: because they're offered at a lower price, and we've just
Speaker 1: been playing dumb about it. But we also have to
Speaker 1: reinvigorate the American spirit also. You know, we talked about
Speaker 1: all these new people who are starting entrepreneurships. We need
Speaker 1: to keep that going. I think this notion now that
Speaker 1: America is so awful, you know, this whole focus on
Speaker 1: and we're so poor, was so awful. We're so this,
Speaker 1: we need to raise taxes so we can take care
Speaker 1: of these people. And it's a defeatist approach. And I
Speaker 1: think if we go down that path where we deliberately
Speaker 1: slow up commerce in this country out of some sort
Speaker 1: of notion that you can't make it in this country,
Speaker 1: so there's gotta be social justice, then then China will
Speaker 1: take overtake us a lot sooner than anyone thought. We don't.
Speaker 1: It doesn't have to be that way, and I'm certainly
Speaker 1: gonna make sure I always use my platform to make it,
Speaker 1: to make sure I I warn't against it. I think
Speaker 1: if we keep the American entrepreneurship pool, yourself up by
Speaker 1: the bootstrap, believe in yourself. If we keep that spirit
Speaker 1: alive well, being number one for a long time. Yeah. Now,
Speaker 1: you of course worked on Long Street and are expert
Speaker 1: on investing in stocks. Broadly speaking, how would you advise
Speaker 1: the average middle and working class American to handle their money?
Speaker 1: And these uncertain economic times should we be trying to
Speaker 1: invest in the stock market? Save? Are there new markets
Speaker 1: and industries that are catching your eye? I see a
Speaker 1: lot of people, so they make a lot of money
Speaker 1: and currency trading currencies, and that's something I've become recently
Speaker 1: interested in. Well, you know, I still have my business.
Speaker 1: It's my main business, Wall Street Strategies. I've been doing
Speaker 1: this for over thirty years. I have a new book,
Speaker 1: Unstoppable Prosperity. It has been a grand slam Giano. The
Speaker 1: book has it's I can't even tell you. I can't
Speaker 1: even tell you. I do education. Tens of millions of
Speaker 1: dollars people have paid me in the last year to
Speaker 1: help educate them. My track record is phenomenal, beyond phenomenal. Yes, invests, Yes,
Speaker 1: change your life. Please do it, Please do it. That's
Speaker 1: what my book is all about. I tried my best,
Speaker 1: I take all my experience. I became a broker. Well,
Speaker 1: I started on Wall Street. I became a broker in
Speaker 1: eighty six, and so I've seen everything. I have seen
Speaker 1: it as an investor. I bought my first stock when
Speaker 1: I was for my first mutual phone when I was
Speaker 1: eight seventeen. My mom had to co sign my first
Speaker 1: stop when I was eighteen. I've seen it all as
Speaker 1: a from a stockbroker to someone who owns its own
Speaker 1: research firm. I know all the mistakes people make. I
Speaker 1: know all the the procrastination they make. And that's and
Speaker 1: that's the main thing, the worst enemy of people when
Speaker 1: they investors themselves. They do it wrong. They come in,
Speaker 1: they buy one stock, they see how it goes. It's
Speaker 1: gotta be a lifelong endeavor and lifelong commitment. And I
Speaker 1: and I'm I consider myself the student of the market.
Speaker 1: I never want to get so cocky. I think I
Speaker 1: know it all in part because the markets. You know,
Speaker 1: different things moved the markets. For instance, right now, this
Speaker 1: whole thing called e s G which is environmental, Environmental,
Speaker 1: social and governance that is going to drive stocks for
Speaker 1: many years to come. Within the market itself. Data with
Speaker 1: you and I are doing at this very moment, we're
Speaker 1: creating data. The amount of data that's created every single
Speaker 1: day around the world is just, oh my goodness, the terms,
Speaker 1: the pedal flops in the and the just the terms alone.
Speaker 1: It's just absolutely amazing that data is created, it's stored,
Speaker 1: it's sold, it's shared, it's secured, it's manipulated, it's massaged.
Speaker 1: It's just amazing. Data. Data, data, data data. Currency is
Speaker 1: a tough game. Currency is as as a different kind
Speaker 1: of tough game. There's all kinds of hoxogenous things and
Speaker 1: political policies. Obviously, Bitcoin is erupting right now, so that's
Speaker 1: that's something I think you're gonna see really go mainstream.
Speaker 1: It's thirty thirty thou bitcoin. Some people are predicting it
Speaker 1: to goes high as a million. I'm also excited this
Speaker 1: year for industries that were were hyped up before but
Speaker 1: didn't live up to the hype. Drone, for instance, this
Speaker 1: ruling by the FAA on commercial drones phenomenal, Oh my goodness,
Speaker 1: phenomenal three D printing ten years later starting to live
Speaker 1: up to the hype. Nanotechnology starting to live up to
Speaker 1: the hype. I'm just so excited, I tell you this.
Speaker 1: As long as they don't as long as we don't
Speaker 1: end up with a government or federal government that can
Speaker 1: completely put up these major, major speed bumps in an
Speaker 1: effort to rechange this country and and this this whole
Speaker 1: Green New Deal thing. And believe me, the pieces are
Speaker 1: being put in the place right now. I saw somewhere
Speaker 1: where something was just passing the house where all this
Speaker 1: Green New Deal stuff doesn't have to come under the
Speaker 1: rules of PAGO. So it's just and I really I
Speaker 1: get progressive credit for playing the long game. You know,
Speaker 1: they plant dcs that german ate them. They being in
Speaker 1: maddus from from from anywhere, from our kids in school,
Speaker 1: from elementary schooling up two movies to music, and they
Speaker 1: just keep hitting us and keep hitting us and keep
Speaker 1: hitting us. And the next thing, you know, you know,
Speaker 1: we're looking at these kind of crazy policies that are
Speaker 1: that that destroyed the economy. And it's we're at that
Speaker 1: point now. So I'm extraordinarily optimistic for the stock market.
Speaker 1: But if Minden gets a chance to reverse President Trump's
Speaker 1: tax policies, then it's it's gonna be a tougher, much
Speaker 1: tougher place to make money. In speaking of that, in
Speaker 1: order for him to be able to reverse those economic policies, Tomorrow,
Speaker 1: January five, is the joint Georgia Senate runoffs, which we
Speaker 1: know will determine which party controls the Senate. We know
Speaker 1: the Democrats control of the House, that this would give
Speaker 1: Joe Biden everything you need to run the country and
Speaker 1: reverse the economic benefits a lot of them that we've
Speaker 1: seen by way of the Trump policies. How concerned are
Speaker 1: you that Republicans won't vote because of the concerns about
Speaker 1: voter fraud. I'm real concerned. It's blowing my mind. Really.
Speaker 1: First of all, not to vote in general blows my mind.
Speaker 1: I mean, I know there are times when you may
Speaker 1: feel like the candidates are unappealing. I'm a person I
Speaker 1: have a long track record, personal track record of voting
Speaker 1: for third party candidates. I've written people in before. You
Speaker 1: know my grandmother, she's it's so interesting and I didn't
Speaker 1: spend a lot of time with her. My grandmother from
Speaker 1: whom born and raised in Alabama, young in town right
Speaker 1: near Selma, and my mom used to tell me these
Speaker 1: stories about how all she did. You know, she's loved
Speaker 1: to do her favorite thing. You know, they ran a
Speaker 1: farm and they had no plumber, so she was always
Speaker 1: busy working, but when she had a free moments, she
Speaker 1: loved listening to politics on the radio. In fact, my
Speaker 1: mother said that she was only afraid of two things
Speaker 1: when she she was younger. That was a cru chef
Speaker 1: in the Russians invading America and m Mantil going to Mississippi.
Speaker 1: She said, even though they were in Alabama, she would
Speaker 1: never go to Mississippi. But my grandmother there was one
Speaker 1: year there was an election, and I forgot what year
Speaker 1: it was, but in the town they made it clear
Speaker 1: to all the black people don't vote. If you vote,
Speaker 1: there's gonna be a problem. So five people showed a
Speaker 1: five black people showed up to my grandmother was one
Speaker 1: of them, and so you know, they gave him a
Speaker 1: hard time, and they put him in a room and
Speaker 1: they were scared. They're like, man, we don't know what
Speaker 1: the hell is gonna go on. They were in the
Speaker 1: room for about forty five minutes an hour and the
Speaker 1: door opened up and it was Martin Luther King and
Speaker 1: he says, everything's gonna be okay. So when I see
Speaker 1: people have these little hissy fits about, you know, not voting,
Speaker 1: I just can't think of anything dumber in my and
Speaker 1: my I can't vote for who the hell you want
Speaker 1: to vote for, but not to vote out of some
Speaker 1: sort of protests, especially when you're helping the people that
Speaker 1: you say you don't want to win. It's just dumb
Speaker 1: as hell. But there there's gonna be a few of
Speaker 1: them who do it, and they they, and I just
Speaker 1: hope it's not enough to change the outcome because we
Speaker 1: cannot and I say, well, I mean, the American people
Speaker 1: cannot have a blank check for the Green New Deal,
Speaker 1: for anti capitalism, for socialism. We just can't let it happen. Well,
Speaker 1: that was a very powerful story. Absolutely, you've raised some
Speaker 1: amazing salient points this entire podcast, and it's the first
Speaker 1: one of the year. Thank you for starting us off
Speaker 1: with such informative, logical, inspirational thoughts on many, many, many
Speaker 1: different issues people don't know. I'll call you my big brother.
Speaker 1: And back when I used to be able to come
Speaker 1: into the office over it Fox, when when I would
Speaker 1: come in monthly, I sait in the office and talk
Speaker 1: to you for hours and and it was always just
Speaker 1: one of the highlights of my trips to New York.
Speaker 1: So I want to thank you for bringing people in
Speaker 1: the in the office for some of the conversations that
Speaker 1: we would normally have on the day to day basis.
Speaker 1: I I want to thank you again, big brother, for
Speaker 1: for kicking us off with the what I hope to
Speaker 1: be a wildly successful year for for the both of
Speaker 1: us and especially everyone that's listening today. Thank you so much. Man,
Speaker 1: I feel the same way. I can't wait to see
Speaker 1: you in person. Absolutely. Now, would you tell everybody how
Speaker 1: they can follow you on social media because I know
Speaker 1: you've got a prolific following on on Twitter you tweet
Speaker 1: probably a hundred times a day. And your website for
Speaker 1: your business and where they can watch you on television, Well,
Speaker 1: it's uh, it's C. D. Pain on Twitter. Uh my
Speaker 1: my website is w Street dot com. If you want
Speaker 1: the book, you can have it for free, but you
Speaker 1: gotta pay. Posteds you're handling at Unstoppable Prosperity dot com
Speaker 1: And every single day you could catch me at two
Speaker 1: pm posting making money with Charles Pain on the Fox
Speaker 1: Business Network. Thank you again, big bro. I really appreciate
Speaker 1: you and your service. Take so much. Thank you so much.
Speaker 1: I appreciate it absolutely. Thanks to Charles paying for a
Speaker 1: great interview. If you're enjoying the show, please leave us
Speaker 1: a review and rate us with five stars on Apple Podcast.
Speaker 1: If you have any questions for me, please email me
Speaker 1: at out loud at ginger Street sixty dot com and
Speaker 1: I'll try to answer them in our future episodes. You
Speaker 1: can also find me on Twitter, Instagram, Facebook, and parlor
Speaker 1: at Giano Caldwell. If you're interested in learning about my story,
Speaker 1: please pick up a copy of my best selling book
Speaker 1: titled Taken for Granted, How Conservatism Can Win back the
Speaker 1: Americans their Liberalism Failed. Special thanks to our producer Stephen
Speaker 1: collabora researcher Aaron Kleinman, and executive producers Debbie Meyers and
Speaker 1: speaker New Gingrich, all a part of the Ginglish three network,
Speaker 1: part of the Gamer's Research Network