WEBVTT - Study Hall: The American Dream Now Cost $3.4 Million

0:00:00.040 --> 0:00:03.600
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:00:03.680 --> 0:00:07.480
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:00:07.720 --> 0:00:11.840
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:00:11.920 --> 0:00:15.840
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:00:15.920 --> 0:00:19.680
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:00:19.720 --> 0:00:23.320
<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:00:23.320 --> 0:00:28.120
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:00:28.160 --> 0:00:31.680
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:00:31.760 --> 0:00:34.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:00:35.040 --> 0:00:38.920
<v Speaker 1>are here illegally, your next you will be fined nearly

0:00:39.000 --> 0:00:43.000
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:00:43.040 --> 0:00:46.680
<v Speaker 1>never return. But if you register using our CBP home

0:00:46.720 --> 0:00:50.120
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:00:50.479 --> 0:00:55.240
<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:00:55.400 --> 0:00:57.400
<v Speaker 1>border and families will.

0:00:57.200 --> 0:01:00.000
<v Speaker 2>Be protected sponsored by the United States Department of Homeland Security.

0:01:00.120 --> 0:01:02.120
<v Speaker 3>So let's get into it. First question this year, let's

0:01:02.120 --> 0:01:06.600
<v Speaker 3>talk about that three point four million dollar number American

0:01:06.720 --> 0:01:11.160
<v Speaker 3>Dream And yeah, can you give us some more details

0:01:11.200 --> 0:01:11.399
<v Speaker 3>on that?

0:01:11.800 --> 0:01:15.160
<v Speaker 4>Sure? Absolutely, So we're always looking at what people are

0:01:15.160 --> 0:01:17.120
<v Speaker 4>looking for and investipede it. And when we come to

0:01:17.120 --> 0:01:18.760
<v Speaker 4>the end of the year, we look at the terms

0:01:18.760 --> 0:01:21.200
<v Speaker 4>that pop the most. What were people searching for the most,

0:01:21.480 --> 0:01:25.160
<v Speaker 4>either at one distinct period of time or what definition

0:01:25.280 --> 0:01:28.320
<v Speaker 4>or term had the most consistent search and American dream

0:01:28.720 --> 0:01:30.679
<v Speaker 4>was our top term of the year. People were looking

0:01:30.720 --> 0:01:33.840
<v Speaker 4>for that throughout the year. So we got into that

0:01:33.840 --> 0:01:36.199
<v Speaker 4>a little bit. Why were people looking up the American Dream?

0:01:36.200 --> 0:01:38.280
<v Speaker 4>And we've the more we looked, the more we understood

0:01:38.280 --> 0:01:40.240
<v Speaker 4>that it felt like it was out of reach for

0:01:40.319 --> 0:01:42.959
<v Speaker 4>a lot of people, especially young people, who feel like

0:01:43.040 --> 0:01:44.679
<v Speaker 4>they're not going to be able to have a good

0:01:44.680 --> 0:01:46.520
<v Speaker 4>of financial life as their parents. They're not going to

0:01:46.520 --> 0:01:48.800
<v Speaker 4>be able to do better than their parents. They may

0:01:48.840 --> 0:01:51.600
<v Speaker 4>not ever be able to buy a home given mortgage rates,

0:01:51.640 --> 0:01:55.360
<v Speaker 4>given the high price of housing these days. So we

0:01:55.440 --> 0:01:56.800
<v Speaker 4>got into it a little bit more and we saidhy

0:01:56.800 --> 0:01:58.920
<v Speaker 4>don't we actually put a number on it? What would

0:01:58.920 --> 0:02:01.880
<v Speaker 4>it cost to if you wanted to build the so

0:02:02.040 --> 0:02:05.400
<v Speaker 4>called dream? And to be completely candid, my dream and

0:02:05.440 --> 0:02:07.600
<v Speaker 4>your dream are very different, and the dream of everybody

0:02:07.640 --> 0:02:11.720
<v Speaker 4>listening is very different. But a reasonable expectation to build

0:02:11.720 --> 0:02:14.560
<v Speaker 4>a family, raise a family have a couple of kids,

0:02:14.760 --> 0:02:16.960
<v Speaker 4>send them to school for a couple of years, have

0:02:17.040 --> 0:02:19.919
<v Speaker 4>a couple of pets that live fifteen years on average,

0:02:19.919 --> 0:02:23.120
<v Speaker 4>each own five to six used cars over your lifetime,

0:02:23.400 --> 0:02:26.120
<v Speaker 4>pay for health insurance, the cost of raising a kid,

0:02:26.280 --> 0:02:27.959
<v Speaker 4>having a little bit of money three quarters of a

0:02:28.000 --> 0:02:31.000
<v Speaker 4>million bucks set aside for ten years of retirement. When

0:02:31.040 --> 0:02:33.360
<v Speaker 4>we total that up, it came to three point four

0:02:33.680 --> 0:02:36.880
<v Speaker 4>million dollars. Again, your dream and my dream are different,

0:02:36.919 --> 0:02:40.760
<v Speaker 4>but these are reasonable expectations for raising a family today

0:02:40.800 --> 0:02:43.119
<v Speaker 4>in this country. And that does include buying a home.

0:02:43.200 --> 0:02:45.359
<v Speaker 4>Not everybody wants to buy a home, but if you

0:02:45.480 --> 0:02:47.400
<v Speaker 4>wanted to, And that was kind of what the dream

0:02:47.480 --> 0:02:50.000
<v Speaker 4>was purported to be, right, being able to do whatever

0:02:50.040 --> 0:02:52.639
<v Speaker 4>you wanted to do in this country, no matter who

0:02:52.680 --> 0:02:55.240
<v Speaker 4>you are. That's the purpose of the dream. The American

0:02:55.320 --> 0:02:59.320
<v Speaker 4>dream was actually coined in nineteen thirty one by an

0:02:59.360 --> 0:03:02.760
<v Speaker 4>author in a called Epic of America's James Truslow Adams.

0:03:02.880 --> 0:03:05.320
<v Speaker 4>He wrote about the American dream in the depths of

0:03:05.320 --> 0:03:07.760
<v Speaker 4>the Depression when he was talking about dream of a

0:03:07.840 --> 0:03:10.400
<v Speaker 4>dream of a land in which life should be better, richer,

0:03:10.440 --> 0:03:14.120
<v Speaker 4>and fuller for everyone, with opportunity for each According to

0:03:14.160 --> 0:03:17.480
<v Speaker 4>ability or achievement. Well, the financial services industry over the

0:03:17.560 --> 0:03:20.680
<v Speaker 4>last thirty years turned that into owning a home, having

0:03:20.720 --> 0:03:23.840
<v Speaker 4>retirement assets, being able to afford a college education for

0:03:23.919 --> 0:03:26.880
<v Speaker 4>your family, being able to afford insurance, healthcare, and all

0:03:26.919 --> 0:03:29.960
<v Speaker 4>those things. So just taking the reasonable expectations for what

0:03:30.000 --> 0:03:32.560
<v Speaker 4>that is today, that's three point four million dollars. But

0:03:32.560 --> 0:03:35.200
<v Speaker 4>the problem, guys is if you take the median income

0:03:35.600 --> 0:03:37.920
<v Speaker 4>over a lifetime of earning, you get to about two

0:03:37.960 --> 0:03:40.960
<v Speaker 4>point three million. So there's a million plus dollar gap

0:03:41.280 --> 0:03:44.280
<v Speaker 4>between what people are actually earning and what it costs

0:03:44.360 --> 0:03:47.480
<v Speaker 4>to have those reasonable expectations to raise a family today.

0:03:48.640 --> 0:03:52.160
<v Speaker 3>So what would be being at the average American is

0:03:52.200 --> 0:03:56.400
<v Speaker 3>going to earn less than three point four million, right,

0:03:57.800 --> 0:04:00.600
<v Speaker 3>what would be the suggestion, like, what's the the outcome

0:04:00.640 --> 0:04:02.760
<v Speaker 3>of this study? So one thing is like, okay, you

0:04:02.840 --> 0:04:05.080
<v Speaker 3>got and actually asks chat GBT and they said that

0:04:05.360 --> 0:04:07.200
<v Speaker 3>is what they actually put it a one point seven

0:04:07.240 --> 0:04:12.520
<v Speaker 3>million for average person. But so the first thing I

0:04:12.560 --> 0:04:14.800
<v Speaker 3>would say is, obviously it would pay that to be

0:04:15.120 --> 0:04:18.200
<v Speaker 3>in a tool income household, because then that one point

0:04:18.240 --> 0:04:23.360
<v Speaker 3>seven turns to three point two and no one point yeah, right,

0:04:24.480 --> 0:04:27.880
<v Speaker 3>three point four three point four So that will put

0:04:27.880 --> 0:04:31.760
<v Speaker 3>you right there actually if you're married, according to chat GBT.

0:04:32.480 --> 0:04:35.760
<v Speaker 3>But for the people that are not in that category

0:04:35.880 --> 0:04:39.599
<v Speaker 3>and are not on pace to earn that much money

0:04:39.640 --> 0:04:43.480
<v Speaker 3>in their life span, what's what's the takeaway? What can

0:04:43.480 --> 0:04:46.919
<v Speaker 3>they do to actually improve their situation to meet that challenge?

0:04:47.240 --> 0:04:49.640
<v Speaker 4>They should invest? Right, how do you fill the gap?

0:04:49.920 --> 0:04:53.080
<v Speaker 4>Where's that one point one million dollars or whatever you're missing?

0:04:53.120 --> 0:04:55.840
<v Speaker 4>Then it come from it comes from growing your money, right,

0:04:56.080 --> 0:04:58.520
<v Speaker 4>it comes from investing. That's one way of doing it.

0:04:58.680 --> 0:05:02.080
<v Speaker 4>Or changing the framework of your dream. Maybe you never

0:05:02.160 --> 0:05:04.280
<v Speaker 4>wanted to own a home, maybe that's not important to you.

0:05:04.520 --> 0:05:07.160
<v Speaker 4>Maybe you don't drive, maybe you don't have a kid,

0:05:07.400 --> 0:05:09.120
<v Speaker 4>or don't want to raise a family. But if you

0:05:09.160 --> 0:05:12.360
<v Speaker 4>want to have those reasonable expectations for raising a family,

0:05:12.400 --> 0:05:14.479
<v Speaker 4>today you're going to get to around that number. But

0:05:14.520 --> 0:05:15.599
<v Speaker 4>you can change the number.

0:05:16.680 --> 0:05:18.920
<v Speaker 5>This episode is brought to you by P and C Bank.

0:05:19.320 --> 0:05:22.080
<v Speaker 5>A lot of people think podcasts about work are boring,

0:05:22.279 --> 0:05:26.160
<v Speaker 5>and sure, they definitely can be, but understanding a professionals

0:05:26.200 --> 0:05:29.480
<v Speaker 5>routine shows us how they achieve their success little by little,

0:05:29.839 --> 0:05:33.520
<v Speaker 5>day after day. It's like banking with P and C Bank.

0:05:33.960 --> 0:05:36.760
<v Speaker 5>It might seem boring to save, plan and make calculated

0:05:36.800 --> 0:05:39.880
<v Speaker 5>decisions with your bank, But keeping your money boring is

0:05:39.920 --> 0:05:43.240
<v Speaker 5>what helps you live or more happily fulfilled life. P

0:05:43.360 --> 0:05:48.200
<v Speaker 5>and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

0:05:48.240 --> 0:05:50.880
<v Speaker 5>Boring since eighteen sixty five is a service mark of

0:05:50.920 --> 0:05:54.159
<v Speaker 5>the PNC Financial Service Group, Inc. P and C Bank

0:05:54.560 --> 0:05:56.799
<v Speaker 5>National Association Member FDIC.

0:06:00.240 --> 0:06:00.600
<v Speaker 2>What's Up?

0:06:00.640 --> 0:06:03.120
<v Speaker 5>You ever walk into a small business and everything just

0:06:03.279 --> 0:06:06.440
<v Speaker 5>works like The checkout is fast, the receipts are digital,

0:06:06.960 --> 0:06:09.960
<v Speaker 5>tipping is a breeze, and you're out the door before

0:06:09.960 --> 0:06:14.120
<v Speaker 5>the line even builds Odds are they're using Square. We

0:06:14.279 --> 0:06:16.800
<v Speaker 5>love supporting businesses that run on Square because it just

0:06:16.839 --> 0:06:20.080
<v Speaker 5>feels seamless. Whether it's a local coffee shop, a vendor

0:06:20.120 --> 0:06:22.400
<v Speaker 5>at a pop up market, or even one of our

0:06:22.440 --> 0:06:26.120
<v Speaker 5>merch partners. Square makes it easy for them to take payments,

0:06:26.320 --> 0:06:30.000
<v Speaker 5>manage inventory, and run their business with confidence, all from

0:06:30.160 --> 0:06:33.559
<v Speaker 5>one simple system. If you're a business owner or even

0:06:33.640 --> 0:06:37.159
<v Speaker 5>just thinking about launching something soon, Square is hands down

0:06:37.200 --> 0:06:39.520
<v Speaker 5>one of the best tools out there to help you start,

0:06:39.920 --> 0:06:43.479
<v Speaker 5>run and grow. It's not just about payments, it's about

0:06:43.520 --> 0:06:45.919
<v Speaker 5>giving you time back so you can focus on what

0:06:46.120 --> 0:06:49.760
<v Speaker 5>matters most Ready to see how Square can transform your business,

0:06:50.040 --> 0:06:54.679
<v Speaker 5>visit Square dot com backslash, go backslash eyl to learn

0:06:54.720 --> 0:06:59.960
<v Speaker 5>more that Square dot com backslash, go backslash eyl. Don't wait,

0:07:00.200 --> 0:07:03.039
<v Speaker 5>don't hesitate. Let's Square handle the back end so you

0:07:03.040 --> 0:07:06.080
<v Speaker 5>can keep pushing your vision forward.

0:07:06.920 --> 0:07:10.600
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:07:10.640 --> 0:07:14.440
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:07:14.680 --> 0:07:18.800
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:07:18.880 --> 0:07:22.760
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:07:22.880 --> 0:07:26.640
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:07:26.680 --> 0:07:30.200
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:07:30.280 --> 0:07:35.040
<v Speaker 1>Secretary of Homeland Security. Under President Trump, Attempted illegal border

0:07:35.080 --> 0:07:38.640
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:07:38.720 --> 0:07:41.920
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:07:42.000 --> 0:07:45.840
<v Speaker 1>are here illegally, your next you will be fined nearly

0:07:45.920 --> 0:07:49.960
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:07:50.000 --> 0:07:53.640
<v Speaker 1>never return. But if you register using our CBP home

0:07:53.680 --> 0:07:57.040
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:07:57.400 --> 0:08:02.160
<v Speaker 1>Do what's right. Leave now under President Trump, America's laws

0:08:02.320 --> 0:08:04.280
<v Speaker 1>border and families will.

0:08:04.160 --> 0:08:06.920
<v Speaker 2>Be protected sponsored by the United States Department of Homeland Security.

0:08:07.000 --> 0:08:09.640
<v Speaker 4>Numberge any which way depending on your lifestyle. But let's

0:08:09.640 --> 0:08:11.440
<v Speaker 4>just say that as that three point four million and

0:08:11.480 --> 0:08:13.880
<v Speaker 4>you're far away from it, investing is a way to

0:08:13.960 --> 0:08:16.440
<v Speaker 4>fill the gap. Making your money work for you while

0:08:16.480 --> 0:08:19.560
<v Speaker 4>you're working is the way to make sure that you're

0:08:19.600 --> 0:08:21.760
<v Speaker 4>getting to that number or beyond that number so you

0:08:21.760 --> 0:08:24.040
<v Speaker 4>can leave live even a little bit more comfortably. That's

0:08:24.080 --> 0:08:26.160
<v Speaker 4>the point of this program, right, That's the point of

0:08:26.160 --> 0:08:28.840
<v Speaker 4>what you guys are doing. Helping people build well, helping

0:08:28.880 --> 0:08:32.120
<v Speaker 4>them find different pathways to build wealth over a lifetime.

0:08:32.280 --> 0:08:34.280
<v Speaker 4>That's what we believe in, and I think that's the answer.

0:08:35.200 --> 0:08:37.160
<v Speaker 6>And plus, with the rate of inflation going up so high,

0:08:37.200 --> 0:08:38.880
<v Speaker 6>it's going to be a mistake in ten or fifteen

0:08:38.920 --> 0:08:41.160
<v Speaker 6>years if you don't own a home. So I know

0:08:41.200 --> 0:08:43.920
<v Speaker 6>there's a big agenda for people to not own, but

0:08:44.200 --> 0:08:46.520
<v Speaker 6>you have to invest in a long term and you

0:08:46.559 --> 0:08:48.600
<v Speaker 6>definitely have to look towards own the home because if not,

0:08:48.679 --> 0:08:51.240
<v Speaker 6>I think the prices will probably double in the next

0:08:51.280 --> 0:08:52.000
<v Speaker 6>ten years.

0:08:52.720 --> 0:08:55.240
<v Speaker 4>Yeah, on a home or on real estate properties that

0:08:55.280 --> 0:08:57.280
<v Speaker 4>produce you come for. You have to have ways of

0:08:57.360 --> 0:09:01.160
<v Speaker 4>producing money for you outside of your norse normal occupation.

0:09:01.280 --> 0:09:03.640
<v Speaker 4>There's two ways to look at it. Right, When you work,

0:09:03.720 --> 0:09:06.360
<v Speaker 4>that's your labor. Those are your labor dollars that sustain you.

0:09:06.720 --> 0:09:08.880
<v Speaker 4>But to put your money to work while you're working,

0:09:09.080 --> 0:09:11.320
<v Speaker 4>get those two things going at the same time. That's

0:09:11.360 --> 0:09:13.800
<v Speaker 4>how you generate wealth over the long term. And that's

0:09:13.800 --> 0:09:16.079
<v Speaker 4>how you build generational wealth. But a lot of people

0:09:16.120 --> 0:09:18.280
<v Speaker 4>just don't learn that, which is why I'm so impressible

0:09:18.320 --> 0:09:19.880
<v Speaker 4>that you guys are doing. You've been teaching people how

0:09:19.920 --> 0:09:22.360
<v Speaker 4>to do this for a long time. That's the point, right,

0:09:22.520 --> 0:09:24.240
<v Speaker 4>You have to build your wealth and have your money

0:09:24.400 --> 0:09:25.040
<v Speaker 4>work for you.

0:09:25.840 --> 0:09:28.160
<v Speaker 5>So in order to get to this three point foward,

0:09:28.240 --> 0:09:31.200
<v Speaker 5>there's obviously things you said, like investing, But I wonder

0:09:31.240 --> 0:09:34.040
<v Speaker 5>when you look at the search the results from your search,

0:09:34.160 --> 0:09:36.240
<v Speaker 5>is did anything stand out to you?

0:09:36.280 --> 0:09:36.400
<v Speaker 2>Right?

0:09:36.440 --> 0:09:39.599
<v Speaker 5>Because I'm looking at your top ten. Number ten was racketeering,

0:09:39.640 --> 0:09:45.480
<v Speaker 5>which is pretty interesting. Number nine assumable mortgages. Number eight bricks,

0:09:45.520 --> 0:09:49.200
<v Speaker 5>which we've spoken about. Number seven, Treasury Bill, number six,

0:09:49.320 --> 0:09:56.760
<v Speaker 5>debt ceiling five, inverted yield curve before certificate of deposit.

0:09:57.559 --> 0:10:00.840
<v Speaker 5>Number three, artificial intelligence, which I probably thought would be

0:10:00.880 --> 0:10:03.760
<v Speaker 5>number one, number two bank failures, and like you said,

0:10:03.800 --> 0:10:07.319
<v Speaker 5>the American dream. So as we're searching for these things,

0:10:06.720 --> 0:10:10.080
<v Speaker 5>what's staring out to you guys as a company saying

0:10:10.080 --> 0:10:11.840
<v Speaker 5>all right, well, we got to feed more information. We

0:10:11.880 --> 0:10:14.240
<v Speaker 5>got to figure out why people are looking at these things.

0:10:14.400 --> 0:10:16.000
<v Speaker 5>What was glaring to you as you got those results

0:10:16.000 --> 0:10:16.440
<v Speaker 5>coming back.

0:10:16.720 --> 0:10:19.520
<v Speaker 4>Yeah, Artificial intelligence was actually our reader's pick for term

0:10:19.559 --> 0:10:20.840
<v Speaker 4>of the year, and it makes a lot of sense.

0:10:20.920 --> 0:10:24.160
<v Speaker 4>Not only was it a huge investing theme. Note Navidia,

0:10:24.280 --> 0:10:26.400
<v Speaker 4>note a lot of the AI related stocks that had

0:10:26.760 --> 0:10:31.120
<v Speaker 4>enormous outperformance this year, but AI touched every single industry

0:10:31.360 --> 0:10:33.880
<v Speaker 4>that we pretty much encounter, right. It was behind the

0:10:33.920 --> 0:10:37.320
<v Speaker 4>writer and the writer and actor strike in Hollywood. It

0:10:37.400 --> 0:10:38.840
<v Speaker 4>was behind a lot of what's going on in the

0:10:38.840 --> 0:10:40.839
<v Speaker 4>auto industry in terms of what that's going to turn

0:10:40.880 --> 0:10:43.400
<v Speaker 4>into over the next few years. You just mentioned chat

0:10:43.440 --> 0:10:46.120
<v Speaker 4>GPT when you asked it how much it would cost

0:10:46.160 --> 0:10:48.680
<v Speaker 4>to you know, how much a dual family would earn

0:10:48.720 --> 0:10:52.000
<v Speaker 4>over a lifetime. So it's involved in everything that we're

0:10:52.040 --> 0:10:53.599
<v Speaker 4>involved with today, and I think it's going to be

0:10:53.640 --> 0:10:55.480
<v Speaker 4>a dominant theme going forward. So we have to do

0:10:55.520 --> 0:10:58.000
<v Speaker 4>a lot more content around that, not just as an

0:10:58.000 --> 0:11:00.800
<v Speaker 4>investing theme, but what does it mean for industries? What

0:11:00.800 --> 0:11:02.920
<v Speaker 4>does it mean for the future of productivity in this

0:11:03.000 --> 0:11:05.280
<v Speaker 4>country and around the world. But when you look at

0:11:05.320 --> 0:11:09.000
<v Speaker 4>other things like bank failures, well those pop because we

0:11:09.000 --> 0:11:11.679
<v Speaker 4>were having bank failures in the spring. Banks were supposed

0:11:11.679 --> 0:11:14.319
<v Speaker 4>to be boring, but there were anything but boring earlier

0:11:14.360 --> 0:11:16.440
<v Speaker 4>on this year when they were failing and the Treasury

0:11:16.440 --> 0:11:20.400
<v Speaker 4>and FDIC were seizing them but also taking extraordinary measures

0:11:20.440 --> 0:11:24.320
<v Speaker 4>to bail out customers of banks. Right the FDIC only

0:11:24.320 --> 0:11:25.960
<v Speaker 4>guarantees and we did a show on this with you

0:11:26.000 --> 0:11:28.240
<v Speaker 4>guys when this was happening back in the last spring.

0:11:28.480 --> 0:11:30.040
<v Speaker 4>I'm only supposed to cover you for two undred and

0:11:30.080 --> 0:11:32.240
<v Speaker 4>fifty thousand, Well the Treasury Department said we're going to

0:11:32.280 --> 0:11:34.920
<v Speaker 4>cover you way beyond that, so that was really interesting.

0:11:35.559 --> 0:11:37.840
<v Speaker 4>We've been in an inverted yield curve in one form

0:11:37.920 --> 0:11:41.400
<v Speaker 4>or another all year, and that usually precedes a recession.

0:11:41.679 --> 0:11:43.440
<v Speaker 4>We've been kind of waiting for a recession now for

0:11:43.480 --> 0:11:46.280
<v Speaker 4>about fifteen sixteen months, not saying we won't have one,

0:11:46.559 --> 0:11:50.080
<v Speaker 4>but the fact that the dynamics have changed. Right, if

0:11:50.080 --> 0:11:52.080
<v Speaker 4>we had an inverted yeal curb five ten years ago,

0:11:52.200 --> 0:11:54.240
<v Speaker 4>we would have had a recession like the next minute.

0:11:54.360 --> 0:11:56.280
<v Speaker 4>But things are really different these days, so we had

0:11:56.280 --> 0:11:59.520
<v Speaker 4>to get in more of that. And also the assumable mortgage.

0:11:59.559 --> 0:12:02.240
<v Speaker 4>That really it out to us. Why because this is

0:12:02.280 --> 0:12:04.120
<v Speaker 4>a way if I want to buy your house in

0:12:04.640 --> 0:12:06.839
<v Speaker 4>you just transfer your mortgage to me instead of me

0:12:06.920 --> 0:12:09.080
<v Speaker 4>going out and getting an eight percent mortgage. It's a

0:12:09.240 --> 0:12:12.720
<v Speaker 4>unique way of doing transferring a mortgage and actually selling

0:12:12.760 --> 0:12:15.360
<v Speaker 4>a house to another person. This was popping for us

0:12:15.360 --> 0:12:18.360
<v Speaker 4>because people were looking for ways to actually own a home,

0:12:18.520 --> 0:12:20.280
<v Speaker 4>be able to buy a home for the first time.

0:12:20.520 --> 0:12:21.880
<v Speaker 4>So that's why this term was popping.

0:12:22.200 --> 0:12:25.839
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:12:25.880 --> 0:12:29.679
<v Speaker 1>in Massachusetts. An MS thirteen gang member from El Salvador

0:12:29.920 --> 0:12:34.040
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:12:34.120 --> 0:12:38.000
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:12:38.120 --> 0:12:41.880
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:12:41.920 --> 0:12:45.440
<v Speaker 1>Donald J. Trump's leadership. I'm Christine Noman, the United States

0:12:45.520 --> 0:12:50.320
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:12:50.320 --> 0:12:53.880
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:12:53.960 --> 0:12:56.200
<v Speaker 1>one hundred thousand illegal aliens.

0:12:55.760 --> 0:12:56.600
<v Speaker 2>Have been arrested.

0:12:56.880 --> 0:13:00.440
<v Speaker 1>If you were here illegally, your next you will be

0:13:00.480 --> 0:13:04.319
<v Speaker 1>fine nearly one thousand dollars a day, imprisoned and deported,

0:13:04.800 --> 0:13:08.040
<v Speaker 1>you will never return. But if you register using our

0:13:08.080 --> 0:13:11.280
<v Speaker 1>CBP home app and leave now, you could be allowed

0:13:11.320 --> 0:13:15.880
<v Speaker 1>to return legally. Do what's right. Leave now. Under President

0:13:15.920 --> 0:13:20.000
<v Speaker 1>Trump America's laws, border and families will be protected.

0:13:20.120 --> 0:13:22.240
<v Speaker 2>Sponsored by the United States Department of Homeland Security,