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Speaker 1: Wake that ass up in the morning. The Breakfast Club Morning.

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Speaker 2: Everybody is DJ Envy, Jess Hilarry Charlamage the guy.

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Speaker 3: We are the Breakfast Club. You got a special guest.

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Speaker 2: In the building, Yes we do, John Hope Brian Welcome, brother,

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Speaker 2: Honored to be here. Man, how you feeling new book?

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Speaker 2: Financial literacy for all?

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Speaker 1: Not illiteracy, Financial literacy.

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Speaker 3: That's right, financial literacy for all. So what's the reason

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Speaker 3: for the book?

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Speaker 4: Before we tell the book? I want people to know

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Speaker 4: who is John Hope Briant.

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Speaker 5: I mean other than God's child, other than Jenny the

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Speaker 5: Smith's son and Johnny.

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Speaker 3: Smith's son from Closer to the mic.

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Speaker 5: From South central Los Angeles. My mom and dad, my

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Speaker 5: granddad was a sharecropper born in eighteen seventy one. RB Smith,

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Speaker 5: my second great grandfather, was part of the Black Union

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Speaker 5: troops tied the reconstruction George Young. Everybody should know your history.

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Speaker 5: My mom and dad came from the south to south

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Speaker 5: central LA. Married, built a little mini fortune in southern

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Speaker 5: Trila with next to nothing, gas station, apartment building, two businesses,

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Speaker 5: own home, lost it all because my dad was financially illiterate.

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Speaker 5: So I became passionate about the topic. I mean, we

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Speaker 5: can get into I was homeless, as you know, for

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Speaker 5: six months of my life, so people think I had

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Speaker 5: some silver spoon in my mouth, not true, and lost

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Speaker 5: everything and had to rebuild myself today. So I've gone

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Speaker 5: from literally the bottom quartile of the economic situation too.

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Speaker 5: I guess I'm the one percent today that people talk about.

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Speaker 5: I'm the largest minority owner of single family rental homes

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Speaker 5: in America. Say that again please, I'm the largest minority

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Speaker 5: read black owner of single family rental homes in America.

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Speaker 5: I owned seven hundred homes. Seven homes, yeah, but to

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Speaker 5: be structured, to structure properly. I bought them through the

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Speaker 5: Promised Homes Company over five years, which I'm the I was,

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Speaker 5: it's the sole owner of I sold the company for

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Speaker 5: one hundred and twenty million dollars Christmas Eve twenty twenty one.

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Speaker 5: Then I went to Taco Bell as the wire transfer

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Speaker 5: is going.

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Speaker 4: Through, indeed, waning to celebrate with a not your bell

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Speaker 4: broaday a number one shell was what was the symbolism

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Speaker 4: in that? Like, did that something you ate while you

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Speaker 4: was homeless?

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Speaker 1: Uh? Yeah?

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Speaker 5: Actually yeah, actually good good good take It was what

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Speaker 5: I ate when I was homeless, but also just keeping

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Speaker 5: it simple, like take life seriously, don't take yourself too seriously.

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Speaker 5: I also built the largest financial literacy organization in America.

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Speaker 5: It's called Operation Hope. Have four main clients. We've invested

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Speaker 5: four and a half billion dollars in our communities. We've

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Speaker 5: created four hundred thousand black businesses through one MBB. I

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Speaker 5: came up here with Toby Looki, who's the founder of Shopify.

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Speaker 5: I was one of the top ten riches men in Canada.

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Speaker 4: And invested four and a half billion into black communities,

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Speaker 4: right yep. And what was that other one?

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Speaker 5: Uh? Well, so I broke We finished with the single

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Speaker 5: family rental home piece. Even though half of my vendors

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Speaker 5: there by the way are plumbers, heating, electricians, lighting, roofing, landscaping, painting,

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Speaker 5: they're black and brown people. So owning the homes is

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Speaker 5: one piece. A DJ you know about this. Owning the

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Speaker 5: homes is one piece. But you can empower people with

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Speaker 5: jobs and contracts that you can't do anyplace else. And

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Speaker 5: the bigger I make that company and I'm planning only

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Speaker 5: ten thousand homes, the more I can empower my people

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Speaker 5: with contracts. I was doing I'm doing right now a

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Speaker 5: few million dollars a year in contracts, and that's sustainable

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Speaker 5: contracts and wealth creation. So that's Promise Homes Company. Then

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Speaker 5: you've got Operation Hope, which has three hundred offices across

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Speaker 5: the country. That's what you're talking about where we've invested

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Speaker 5: four billion, four and a half billion dollars in underserved

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Speaker 5: neighborhoods and created four hundred thousand black businesses since George

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Speaker 5: Floyd's murder. And you know, if you're if you're listening

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Speaker 5: or washing this and you own a gas station or

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Speaker 5: you have a barbershop, you should have an E barbershop.

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Speaker 5: You have a restaurant, you have an E restaurant. You

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Speaker 5: have a nail salon, you should have eatmail salon. In

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Speaker 5: other words, you should be able to go online, make

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Speaker 5: an appointment, buy some products. You make money during the day,

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Speaker 5: you build wealth and your sleep. At Operation Hope, we're

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Speaker 5: raising credit score is fifty four points to in six

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Speaker 5: months one hundred and twenty points and twenty four months.

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Speaker 5: Nothing changes your life more than God of Love, the

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Speaker 5: moving your credit score one hundred and twenty points. We're

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Speaker 5: louring debt thirty eight hundred dollars and increasing savings two

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Speaker 5: thousand dollars for somebody making forty eight thousand dollars a year.

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Speaker 5: So we're the only nonprofit in history ever allowed to

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Speaker 5: operate ins out of a bang branch. Ever, so that

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Speaker 5: means you're getting the bank out of the no business. No,

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Speaker 5: I'm sorry, I can't make you alone and back into

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Speaker 5: the yes business. Now we think it's racism, It might be,

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Speaker 5: but it also might be your credit score stakes. Half

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Speaker 5: of black folks have a credit score below six to twenty.

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Speaker 5: Not poor people, everybody. Latinos are right behind us. And

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Speaker 5: so when you wake up in the morning, half of

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Speaker 5: us are locked out of the free enterprise system. And

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Speaker 5: Bassard Andrew Young say, who was on that balcony doctor

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Speaker 5: King was assassinated. He say, to live in a system

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Speaker 5: of free enterprise and not to understand the rules of

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Speaker 5: free enterprise must be the very definition of slavery. So DJ,

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Speaker 5: to answer your question about you know why the book,

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Speaker 5: it's a civil rights issue, the civil rights issue of

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Speaker 5: this generation period, the new move. The last move was

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Speaker 5: in the streets civil rights. This move is in the

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Speaker 5: sweets civil rights. The color is green, not black, or

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Speaker 5: brown not black. Black or white, or brown or red

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Speaker 5: or blue. It's green and it's always been green. Slavery

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Speaker 5: was about money.

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Speaker 1: Whatever.

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Speaker 5: If your day's out about God or love, your days

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Speaker 5: above money. But we don't understand money. We want to

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Speaker 5: spend it, which is an emotional play, by the way,

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Speaker 5: which is tied to our self esteem or lack thereof.

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Speaker 5: But we which goes back to the mental health issues

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Speaker 5: that you and I talk about. But we don't understand it.

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Speaker 5: And you make as I said earlier, you make money

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Speaker 5: during the day. You build wealth in your sleep. So

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Speaker 5: this is like, this is like everywhere and everything and

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Speaker 5: you live in You live in a capitalist democracy. America

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Speaker 5: is the biggest economy on the planet, the sole superpower

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Speaker 5: in the world.

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Speaker 4: Let me ask you a couple of questions. And I

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Speaker 4: wanted to set the table like I'm glad. I wanted

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Speaker 4: people to know who you are.

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Speaker 1: That's just that's to my five divisions.

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Speaker 4: Yes, but I want people to know who you are

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Speaker 4: and what you've done because we live in this world

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Speaker 4: where everybody's a financial literacy guru and got a financial

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Speaker 4: literacy book. It's like, no, John O'Brien is the real deal.

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Speaker 5: First of all, thank you for that, but it just

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Speaker 5: drives me nuts, man, Like, do you want to do

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Speaker 5: you want a surgeon, you know, doing cancer surgery on you?

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Speaker 1: And they they saw a video on YouTube. I mean,

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Speaker 1: do you do you do?

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Speaker 5: You do you want somebody driving a big rick card

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Speaker 5: that's next to you and your family? And they never

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Speaker 5: took a driver's test. They'd be like, oh, I got this.

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Speaker 5: I mean, this is crazy. It's just like nuts.

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Speaker 3: It's big business.

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Speaker 1: Though.

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Speaker 5: It is a big business, and folks that you know,

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Speaker 5: and God bless their hustle, but this is not something

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Speaker 5: to mess with. People talking about, you know, the most

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Speaker 5: important other than your health and your spirituality. There's nothing

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Speaker 5: more important than your life. This is like breathing. And

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Speaker 5: you have folks selling books and tapes and seminars. And again,

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Speaker 5: I'm not messing with anybody's hustle, but this is not

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Speaker 5: something to play games with. And you cannot become wealthy

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Speaker 5: by selling books and tapes on becoming wealthy, That's not

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Speaker 5: the way this thing works. But that's a whole industry

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Speaker 5: and it just stuns me.

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Speaker 1: Man.

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Speaker 5: I'm like, I've been these boardrooms. I see the credit facilities.

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Speaker 5: I don't see these people. I don't see the folks

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Speaker 5: who are the financial influence. In fact, if you're doing

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Speaker 5: that full time, all day, all night.

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Speaker 3: How could you possibly be in the stries doing what

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Speaker 3: you're saying you.

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Speaker 5: Doing that part. I have four hundred employees. That's I mean,

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Speaker 5: that's full time.

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Speaker 1: Man.

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Speaker 5: I've got a CEO of each one of my divisions.

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Speaker 5: My payrolls a million and a half dollars every two

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Speaker 5: weeks for the last thirty years. I mean, you can

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Speaker 5: go pull up my tax returns for my non property leads.

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Speaker 5: You can pull up my tax returns seventy two million

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Speaker 5: dollars last year. I'm the largest black founded nonprofit founder

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Speaker 5: who's running it in the country.

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Speaker 2: Got a couple of questions, So, you know, the main

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Speaker 2: thing that's been coming out of for people that's own

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Speaker 2: single proper single family units or multi family units.

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Speaker 3: Is the squad of laws.

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Speaker 2: Right, We've seen what happened a couple of weeks ago

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Speaker 2: in New York. What's your take on on the squad

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Speaker 2: of laws? Because it seems like squatters have more rights

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Speaker 2: than the actual owners.

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Speaker 5: It's it's crazy, you know, And look again, I'm you're

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Speaker 5: not gonna You're not gonna find more compassionate capitalists, But

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Speaker 5: I am a capitalist. Even if you want to distribute

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Speaker 5: money like a socialist, you have to first collect it

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Speaker 5: like a capitalist. Like this is just nuts. And people

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Speaker 5: don't understand that most people own these properties. They're not

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Speaker 5: big businesses. It's a doctor, it's a dentist's it's a

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Speaker 5: it's a teacher, a bus driver, a bus driver who

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Speaker 5: has a rental property. They're trying to build some generational wealth.

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Speaker 5: And fantastic for them. By the way, that it is

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Speaker 5: possible that financial freedom is the only true freedom because

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Speaker 5: every other freedom could be taken away from you, political freedom,

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Speaker 5: religious freedom. Look at what's going on right now in society.

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Speaker 5: I mean, women listening to this, watching this men men

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Speaker 5: try to tell you what to do to your body,

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Speaker 5: and it's like, whoa, whoa, whoa. Were you in the

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Speaker 5: womb with me and my mom? Were you in the

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Speaker 5: I mean, how's this conversation tied to you? But financial freedom,

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Speaker 5: unless you screw it up, that's yours. And so to

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Speaker 5: have a squatter come and move into your spot and

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Speaker 5: then start telling you the rights that they have, I

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Speaker 5: mean that just it just goes against every basis of

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Speaker 5: reason and common sense. That I have and I'm from

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Speaker 5: the neighborhood.

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Speaker 3: They from home like this.

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Speaker 1: It's a business. It's a business. You know.

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Speaker 5: People say, here's a lot of crazy stuff like, oh,

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Speaker 5: I hate rich people.

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Speaker 1: No, you don't.

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Speaker 5: You hate rich people until you become rich. What you

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Speaker 5: hate is a game system. What you hate is a

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Speaker 5: system rigged against you that you don't think is fair

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Speaker 5: and honest. Okay, I get that, which is why I'm

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Speaker 5: trying to build the ladder, show you how capitalism really works,

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Speaker 5: which is why I wrote this book, et cetera, et cetera.

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Speaker 5: Just break this down and and make it and make

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Speaker 5: it approachable. But you actually don't hate it because you actually,

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Speaker 5: if you look at your life, most people are actually

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Speaker 5: aspiring to achieve it. That's what these quatters are trying

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Speaker 5: to do, trying to get something for free. Right, there's

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Speaker 5: all We're all capitalists, man, everybody's a capitalist. You have

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Speaker 5: a part time job, you're a you're using your human

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Speaker 5: capital and you're changing you're exchanging it for some gig money.

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Speaker 5: You have a job, you work from nine to five,

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Speaker 5: same thing. You have a career. Now maybe you're working

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Speaker 5: from nine to nine, or maybe you don't have hours

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Speaker 5: because it's it's a salary. You have a C suite job,

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Speaker 5: which is a step above a career. They get Boston

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Speaker 5: call you in the weekends in the evening. But still

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Speaker 5: the risk is on the entrepreneur, the business owner. And

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Speaker 5: then you can get to the piece where you've got

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Speaker 5: a business owner, which is a franchise or some kind

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Speaker 5: of existing business plan that you pre that you pre understand.

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Speaker 1: Like Taco Bell or whatever. But we don't even understand that.

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Speaker 5: We don't even say that McDonald's actually is a real

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Speaker 5: estate play the property that's right. And then you have

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Speaker 5: the crazy people like me who are entrepreneurs, who are

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Speaker 5: who are wake up with our hair on fire. But

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Speaker 5: we also have the highest risk and the highest reward.

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Speaker 5: So you have low risk in lower reward here and

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Speaker 5: high risk and high reward here. But it's all capitalism.

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Speaker 5: You're all using your human capital or your financial capital

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Speaker 5: to go get yours.

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Speaker 2: And what do you think about the You know, Joe

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Speaker 2: Biden was talking about raising the capital gains tax so

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Speaker 2: that business guys who try to like me, sell stuff

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Speaker 2: and buy and sell for high they're going to attax

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Speaker 2: you at He's trying to tax you at a forty

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Speaker 2: eight percent rate. Now, but what hurts is we just

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Speaker 2: talked about all these these minorities. A lot of them

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Speaker 2: is the first time that they all know is in

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Speaker 2: their family. So you got guys that a one hundred millionaires.

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Speaker 2: But now you make your first millionaire tax and you

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Speaker 2: forty eight percent. How can that possibly generate the generational

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Speaker 2: wealth when they're cutting it in half.

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Speaker 5: So so folks who don't who don't own anything or

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Speaker 5: and don't realize that they're capitalists, We're like, yeah, tax them,

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Speaker 5: tax the ridge, tax Ridge until they get that tax

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Speaker 5: bill for that property they own.

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Speaker 1: And like, whoa, whoa, whoa, whoa. I didn't mean me

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Speaker 1: so so here.

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Speaker 5: So you just said some deep stuff, and I'm not

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Speaker 5: sure if you realize how brill it what you said was.

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Speaker 5: But I'm gonna come back at you so and underscore

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Speaker 5: what you said. People say, oh, Warren Buffett pays more. No,

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Speaker 5: Warren Buckets buffets secretary, And I love Warren Buffett by

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Speaker 5: the way, he's a cool dude. Actually know his secretary

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Speaker 5: pays more taxes than he does. Well, of course she's

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Speaker 5: a W two employee. So a W two employee is

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Speaker 5: somebody who gets a paycheck. Buffett is not a W

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Speaker 5: two employee. I look forward to the day i'm not.

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Speaker 5: I'm mostly not, but I look for to that I'm

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Speaker 5: not a W two employee. Real, real wealth creation is

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Speaker 5: about capital gains. So there's so a couple of misnumbers.

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Speaker 5: Most taxes in this country are actually paid by people

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Speaker 5: like me and us. By the way, seventy five percent

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Speaker 5: of all the tax income in this country comes from

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Speaker 5: the wealthy. That's just a fact. The poort don't have

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Speaker 5: the taxes to pay, and luckily, and I think appropriately,

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Speaker 5: they get tax breaks. So that's one. But where does

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Speaker 5: that those taxes come from. It comes from capital gains

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Speaker 5: and other forms of taxation. So the tax capital gains

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Speaker 5: tax is about twenty percent. So if you're getting a

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Speaker 5: W two check, explain.

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Speaker 3: What capital gains is for people that don't know in

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Speaker 3: simple terms.

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Speaker 5: So if so many backups. So if I'm getting a

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Speaker 5: regular check, I'm going to pay thirty five percent plus

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Speaker 5: whatever the state tax and maybe it's the city tax.

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Speaker 5: So maybe hitting in California, maybe hitting forty eight percent

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Speaker 5: of your pay check unless you have some some kind

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Speaker 5: of carveouts and you're getting that every two weeks. Right,

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Speaker 5: if you're Tony Wrestler, who's my business partner, who's the

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Speaker 5: two hundredth richest man in the world worth ten billion

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Speaker 5: dollars dollars owner of Atlanta Hawks, owner of the Atlanta Hawks,

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Speaker 5: Well that's what we know he owns. Him and Mick

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Speaker 5: Arraghetti have areas management here which you've never heard of before.

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Speaker 5: That's three hundred and eighty billion dollars in assets in

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Speaker 5: the management. He gets no paycheck. He but when he

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Speaker 5: sells some stock, or he sells a piece of real estate,

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Speaker 5: or he sells a company, there is a capital gain.

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Speaker 5: There's a gain on the capitol, and that one transaction.

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Speaker 1: Is taxed.

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Speaker 5: When I sold my company, I got the largest tax

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Speaker 5: bill of my life, and I was OneD to pay it.

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Speaker 1: Now. Did I work hard to get get the number down?

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Speaker 1: Sure I did.

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Speaker 5: But what I owed I was out under pay because

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Speaker 5: that means I made some money. I did well in America,

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Speaker 5: so I'm not mad at paying taxes. I paid seven

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Speaker 5: figures that year in state in federal taxes alone, and

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Speaker 5: then I had another high six figure tax in just

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Speaker 5: my Georgia tax bill. And my Georgia tax bill that

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Speaker 5: year was six hundred thousand dollars. That was an easy tax.

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Speaker 5: So so and so when, by the way, once you

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Speaker 5: start paying taxes, you start being concerned about infrastructure.

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Speaker 1: So you start seeing potholes. Hey man, fix these potholes.

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Speaker 1: What's up with that?

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Speaker 5: You know?

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Speaker 1: Why does the hospital work? And what the police start?

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Speaker 5: You realized police work for you, right, It changed your

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Speaker 5: whole mindset.

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Speaker 1: Right.

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Speaker 5: But to come back to your point, I think that

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Speaker 5: part of this is, uh, I agree with a lot

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Speaker 5: of what President Biden is doing, and there is no

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Speaker 5: choice but him in the re election. There is no

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Speaker 5: rational choice. The other dude is a divider and got

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Speaker 5: all kind of mental issues he needs to deal with.

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Speaker 5: But and it's just not you know, the Bible says

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Speaker 5: a house divided cannot stand. It's just actually just good math.

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Speaker 5: You cannot have somebody who's dividing people and you're trying

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Speaker 5: to grow GDP. Hopefully we can get to that in

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Speaker 5: a minute of how how you know, really diversity is

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Speaker 5: a business plan for this country. So that one piece

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Speaker 5: I don't know I'm down with. I think that you

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Speaker 5: want to double the capital gains tax from twenty to

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Speaker 5: forty you may just literally just stop a lot of

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Speaker 5: investment in this country, and you will crater the returns

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Speaker 5: for the average person. So a couple numbers. You have

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Speaker 5: about eighty million rental homes in America. So eighty million

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Speaker 5: homes in America thirty million or so, I believe our

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Speaker 5: multi family if my memory's right, fifty million. So are

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Speaker 5: single family homes. Of those, about eighteen million or rental homes.

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Speaker 5: Of that, about five hundred thousand are institutionally owned, owned

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Speaker 5: by guys like me. Most of those are what we

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Speaker 5: were talking about. It's the trash collector who owns a

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Speaker 5: second house in his neighborhood. Well, if you double the

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Speaker 5: capital gains tax, if you're not really careful, you're going

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Speaker 5: to destroy that man's generational wealth he just created. So

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Speaker 5: the average person who's a capitalist is the gas station owner,

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Speaker 5: is the I mean, it's a small business owner. So

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Speaker 5: we got to stop demonizing success. We really need to

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Speaker 5: be trying to encourage actually people to become wealthy and successful.

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Speaker 5: I'm going to the exact opposite direction and making it

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Speaker 5: easy for him. Now, we gotta pay for it. Everybody

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Speaker 5: should pay their fair share. But you know, I like math.

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Speaker 5: It doesn't have an opinion that's a melody hops in quote.

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Speaker 5: And the math to me is what I said to you.

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Speaker 5: The wealthy already paying more than their share. Now can

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Speaker 5: there be more fairness? Yes, Like they're private equity dudes

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Speaker 5: who get away with all kind of stuff and the

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Speaker 5: hedge funds dudes that get away with a lot of stuff.

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Speaker 5: Because the way the tax is structure that needs to

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Speaker 5: be refined.

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Speaker 4: I think people are talking about like that when they

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Speaker 4: see these billionaires or these billion dollar companies not pay anything.

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Speaker 5: That's yeah, that's that's not recorporate corporations. But by the way,

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Speaker 5: they have entire they have hundreds and hundreds of people

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Speaker 5: in the tax department trying to figure out how to

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Speaker 5: get that that you know, uh, that tax break that

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Speaker 5: the city and the county in the state did that

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Speaker 5: nobody else knows about. So they're they're working the system,

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Speaker 5: and you can't be mad at somebody who's legally working

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Speaker 5: the system. But once you figure out that somebody is

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Speaker 5: working the system, then you need to rework the system,

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Speaker 5: upgrade that software so that the state and the federal

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Speaker 5: government don't go broke. Manhattan doesn't work without subways, Manhattan

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Speaker 5: doesn't work without police, So you have all this, You

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Speaker 5: have one of the wealthiest countries in a city in

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Speaker 5: the world that we're sitting in right now but doesn't

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Speaker 5: work without the public sector, Right, what would.

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Speaker 4: You say to people? You know?

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Speaker 2: They before we go back to what I was saying,

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Speaker 2: because I think this is I think this is where

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Speaker 2: you were going. I was saying that it hurts us

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Speaker 2: when we're first time millionaires, especially minorities in our family,

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Speaker 2: and we get taxed in a way that we cannot

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Speaker 2: necessarily continue that where somebody else.

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Speaker 3: A lot of these white people.

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Speaker 2: Get this money over time, so they already have the

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Speaker 2: money to start. And that's what I was saying, and

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Speaker 2: he was like.

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Speaker 5: Yeah, we don't have Look, this could be a three

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Speaker 5: hour conversation. I mean you can go down any of

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Speaker 5: these directions and take it for an hour, Like, we

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Speaker 5: don't have the generational wealth, we don't have the we

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Speaker 5: don't have the inheritance. We don't have you know, our

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Speaker 5: capital is a credit card, right, That's how I came up.

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Speaker 5: So of course you're you had me a hello, You're

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Speaker 5: absolutely right. I mean I literally had to use credit

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Speaker 5: cards to invest in my first businesses, and I didn't

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Speaker 5: take a salary. Ever, because I knew my businesses needed

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Speaker 5: that capital return and I didn't pay. I admitted I

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Speaker 5: didn't file taxes when I was coming up as a

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Speaker 5: as a hustler in my late teens, and I was

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Speaker 5: home when I was eighteen to my early twenties. I

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Speaker 5: didn't pay taxes for six or eight years. Now they

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Speaker 5: came for me franchise tax board in California. They ain't

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Speaker 5: not playing. They literally put somebody in my lobby once

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Speaker 5: they found me and collected like it was like a

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Speaker 5: gangster collected every day. And I was like, hey, I'm

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Speaker 5: cool with that. I played the game, now you're playing

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Speaker 5: it playing me back. Fair change is no robbery. But

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Speaker 5: I needed that capital I needed. I needed to not

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Speaker 5: pay him for a minute. I needed every dime to

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Speaker 5: go in that business. I wasn't trying to avoid my obligations.

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Speaker 5: I wasn't focused on the details like I am now

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Speaker 5: now have audited financials. I mean, I arrested my.

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Speaker 1: Friend, right, I'd rather have to be a friend, right.

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Speaker 5: Absolutely, I'd rather owe money my mother God rest her

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Speaker 5: soul than they are. I mean, you know they got

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Speaker 5: al capone. It wasn't murdering mayn it was tax evasion,

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Speaker 5: So you don't play with it and you know it.

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Speaker 1: You got to take it seriously.

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Speaker 5: And I think you should feel proud to pay your

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Speaker 5: fair share because we live in the I think, the

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Speaker 5: greatest country in the world, even with all our drama.

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Speaker 2: I think people don't have a problem with paying their taxes.

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Speaker 2: I think they have a problem with where the money goes. Right,

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Speaker 2: most people don't know that dioresis division that actually looks

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Speaker 2: at social media to see where you're at, where you're spending,

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Speaker 2: if you're on vacation, you're just spending what you're driving

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Speaker 2: and all that. I think when people start hear and

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Speaker 2: we're sending six billion to Ukraine and eight billion here

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Speaker 2: and ten billion here, and then they look at where

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Speaker 2: they live, that's why I think people have a problem.

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Speaker 2: I think if they knew where the money was going

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Speaker 2: and it really benefited their community, I don't think people

435
00:20:40,520 --> 00:20:41,280
Speaker 2: will have the problem.

436
00:20:41,280 --> 00:20:42,560
Speaker 1: But then let's talk about community.

437
00:20:42,680 --> 00:20:46,119
Speaker 5: Because the grain comes from Ukraine, right, I mean, if

438
00:20:46,119 --> 00:20:49,600
Speaker 5: you're eating if you know, if you're eating food, it's

439
00:20:49,600 --> 00:20:52,359
Speaker 5: a good chance of eating bread that it actually originated

440
00:20:52,359 --> 00:20:56,040
Speaker 5: in the Ukraine. So if Russia is blocking chips and

441
00:20:56,200 --> 00:20:59,840
Speaker 5: you're wondering why inflation is popping up, is because Russia

442
00:20:59,880 --> 00:21:02,080
Speaker 5: is jamming you up on oil and they control that

443
00:21:02,240 --> 00:21:06,600
Speaker 5: and you're not getting your grain from these developing countries.

444
00:21:07,440 --> 00:21:09,000
Speaker 5: We get a twelve percent of our oil at least

445
00:21:09,000 --> 00:21:11,960
Speaker 5: we used to from Nigeria, by the way, and that's

446
00:21:12,000 --> 00:21:15,120
Speaker 5: a whole another conversation why Nigeria doesn't have enough oil

447
00:21:15,160 --> 00:21:18,880
Speaker 5: for its own people. But we are dependent. We're interdependent

448
00:21:18,920 --> 00:21:22,399
Speaker 5: on the world. So you can't just isolate yourself, and

449
00:21:22,600 --> 00:21:24,760
Speaker 5: you got to educate yourself, which, by the way, I

450
00:21:24,800 --> 00:21:26,760
Speaker 5: love what you guys are doing because you're the educator.

451
00:21:26,760 --> 00:21:30,280
Speaker 5: You're like an open university for the whole country. You're entertaining,

452
00:21:30,280 --> 00:21:33,440
Speaker 5: but you're also educating. We live in an interconnected world

453
00:21:33,480 --> 00:21:36,360
Speaker 5: with the largest economy on the planet, with the soul superpower,

454
00:21:36,800 --> 00:21:41,840
Speaker 5: and we rely on our alliances with the world, including

455
00:21:41,920 --> 00:21:46,919
Speaker 5: where you see us dropping bombs sometimes now we don't.

456
00:21:47,440 --> 00:21:49,560
Speaker 5: America doesn't drop bombs where it doesn't have an interest.

457
00:21:51,119 --> 00:21:51,280
Speaker 1: Now.

458
00:21:51,280 --> 00:21:52,840
Speaker 5: Bill Clinton was one of the few people who did that.

459
00:21:52,880 --> 00:21:56,040
Speaker 5: He went to Somalia for just for a humanitarian situation.

460
00:21:56,400 --> 00:21:58,439
Speaker 5: That was the Black Hawk Down movie that came out.

461
00:21:58,520 --> 00:22:01,440
Speaker 5: It was unfortunate outcome. But most places, if you see

462
00:22:01,520 --> 00:22:03,639
Speaker 5: us there, there's some economic interests. Why are we in

463
00:22:03,640 --> 00:22:04,240
Speaker 5: the Middle East?

464
00:22:04,280 --> 00:22:05,879
Speaker 1: Hello? You know oil?

465
00:22:06,160 --> 00:22:09,080
Speaker 5: Why are we in the Ukraine? Yes, it's horrible, but

466
00:22:09,080 --> 00:22:11,040
Speaker 5: there are a lot of places that's horrible. Look at Haiti.

467
00:22:11,080 --> 00:22:13,439
Speaker 5: We're not in Haiti. We're there because we have an

468
00:22:13,480 --> 00:22:17,360
Speaker 5: economic interest. We're protecting our interest. So on a real talk,

469
00:22:17,400 --> 00:22:20,760
Speaker 5: if you're once you start becoming a taxpayer, you start

470
00:22:20,920 --> 00:22:23,200
Speaker 5: do you start looking at where is the money going?

471
00:22:23,280 --> 00:22:24,879
Speaker 5: And it needs to make sense and when it doesn't,

472
00:22:24,960 --> 00:22:26,840
Speaker 5: vote people out that's okay.

473
00:22:26,960 --> 00:22:28,880
Speaker 1: Now we're back to the right to vote.

474
00:22:29,000 --> 00:22:32,000
Speaker 5: If you when you have a stake and you're a stakeholder,

475
00:22:32,400 --> 00:22:36,080
Speaker 5: all of a sudden, voting makes a whole lot more sense.

476
00:22:37,040 --> 00:22:37,440
Speaker 4: Uh.

477
00:22:37,560 --> 00:22:40,520
Speaker 5: And and filling out these forms and the senses and

478
00:22:40,600 --> 00:22:43,520
Speaker 5: all that stuff which determines what money's coming to your

479
00:22:43,560 --> 00:22:44,760
Speaker 5: community and what money is not.

480
00:22:45,359 --> 00:22:46,280
Speaker 1: You know, we've broke.

481
00:22:46,080 --> 00:22:49,959
Speaker 5: Down credit scores by zip codes at Operation Hope, and

482
00:22:50,000 --> 00:22:52,120
Speaker 5: we found that if you lived in a five eighty

483
00:22:52,160 --> 00:22:56,280
Speaker 5: credit score neighborhood, you see a check casher next to

484
00:22:56,320 --> 00:22:58,800
Speaker 5: a payday loan lender, liquor store, next to a rental store,

485
00:22:58,840 --> 00:23:03,520
Speaker 5: liquor store, pawn show up, title lending store, and a

486
00:23:03,640 --> 00:23:07,320
Speaker 5: church down the street. That's your local neighborhood therapist try

487
00:23:07,359 --> 00:23:09,119
Speaker 5: to make you feel a little bit better once a week.

488
00:23:09,480 --> 00:23:11,080
Speaker 5: But if you live in a and by the way,

489
00:23:11,119 --> 00:23:13,480
Speaker 5: that's black and brown urban, that's.

490
00:23:13,320 --> 00:23:14,640
Speaker 1: Also poor white rule.

491
00:23:15,680 --> 00:23:18,040
Speaker 5: But if you go to a seven hundred credit score neighborhood,

492
00:23:18,040 --> 00:23:21,680
Speaker 5: which is fifteen minutes away, you live twenty year longer life.

493
00:23:22,960 --> 00:23:25,520
Speaker 5: You lived to sixty one years old in the hood,

494
00:23:26,000 --> 00:23:28,480
Speaker 5: you lived to eighty one in a seven hundred credit

495
00:23:28,520 --> 00:23:31,080
Speaker 5: core neighborhood, and a riot in the seven hundredreditor neighbor

496
00:23:31,200 --> 00:23:34,600
Speaker 5: they would go shopping. This is every place in America

497
00:23:34,800 --> 00:23:39,320
Speaker 5: fifteen minutes apart. It is unbelievable. When you start looking

498
00:23:39,320 --> 00:23:42,520
Speaker 5: at the math and stop getting emotional about this, you

499
00:23:42,560 --> 00:23:46,679
Speaker 5: can actually figure out how the world works. And in

500
00:23:46,720 --> 00:23:49,560
Speaker 5: the underserved neighborhood, we twenty eight percent of us own

501
00:23:49,560 --> 00:23:52,679
Speaker 5: a home. If you can get forty percent, consider yourself lucky.

502
00:23:53,200 --> 00:23:56,080
Speaker 5: In a seven hundred credit score neighborhood, seventy five percent

503
00:23:56,119 --> 00:23:59,359
Speaker 5: plus own a home. In the poor neighborhood. The underserved neighborhood,

504
00:24:00,200 --> 00:24:02,719
Speaker 5: sixty percent of those go to high school. Ninety six

505
00:24:02,800 --> 00:24:05,920
Speaker 5: percent of those go to high school meeting graduating meetings,

506
00:24:05,960 --> 00:24:08,440
Speaker 5: go to college in a seven hundred cred school neighborhood.

507
00:24:08,480 --> 00:24:11,880
Speaker 5: Not racial, it's economic and it's not about the credit score.

508
00:24:11,880 --> 00:24:15,120
Speaker 5: It's about the mindset. And then you started sell having

509
00:24:15,119 --> 00:24:22,240
Speaker 5: different businesses who then target those neighborhoods. Policing changes, oversight,

510
00:24:22,520 --> 00:24:26,200
Speaker 5: your government services change in those neighborhoods. A lot of

511
00:24:25,760 --> 00:24:29,320
Speaker 5: these poor counties, man, they make their money on course fees,

512
00:24:31,280 --> 00:24:32,680
Speaker 5: on on processing the poor.

513
00:24:33,600 --> 00:24:35,480
Speaker 4: What would you say to people who hear you say,

514
00:24:35,760 --> 00:24:39,119
Speaker 4: you know, the color isn't black or white is green?

515
00:24:39,160 --> 00:24:41,359
Speaker 4: But then they would say, but hey, there's systemic things,

516
00:24:41,640 --> 00:24:43,399
Speaker 4: you know, systemic racism that shows up in a lot

517
00:24:43,440 --> 00:24:45,880
Speaker 4: of these institutions that keep us from getting to the green.

518
00:24:45,960 --> 00:24:47,800
Speaker 4: Like you know the stat that says mortgage DENI rate

519
00:24:47,880 --> 00:24:51,280
Speaker 4: for black borrows is twice that of the overall population.

520
00:24:51,400 --> 00:24:53,520
Speaker 4: How would you how do people get around stuff like

521
00:24:53,560 --> 00:24:54,240
Speaker 4: credit scores?

522
00:24:54,280 --> 00:24:58,120
Speaker 5: I mean, look, my mother atted my mother, my mother

523
00:24:58,400 --> 00:25:00,600
Speaker 5: when she passed away last year, Smith had a credit

524
00:25:00,640 --> 00:25:03,000
Speaker 5: score of eight fifty four. When she went to the

525
00:25:03,000 --> 00:25:05,800
Speaker 5: computer DJ at night at midnight, the credit score the

526
00:25:05,840 --> 00:25:08,280
Speaker 5: computer and then say are you black? Are you Latino.

527
00:25:08,800 --> 00:25:10,919
Speaker 5: Are you indying, Well, let me look at you. The

528
00:25:10,920 --> 00:25:16,920
Speaker 5: computer said yes, the computer. I challenge anybody listening or

529
00:25:16,960 --> 00:25:20,240
Speaker 5: washing this program. Get a seven in front of your name.

530
00:25:21,000 --> 00:25:22,919
Speaker 5: You want to be cool. We got to make smart

531
00:25:23,000 --> 00:25:25,080
Speaker 5: sexy again. You want to be cool. Get a seven

532
00:25:25,119 --> 00:25:27,199
Speaker 5: in front of your name on your credit score. Go

533
00:25:27,240 --> 00:25:29,639
Speaker 5: in front of the computer. But get all this drama

534
00:25:29,640 --> 00:25:31,639
Speaker 5: going on the computer and type your stuff in. Now

535
00:25:31,640 --> 00:25:33,679
Speaker 5: you have to have an income. Don't play games. Now

536
00:25:33,680 --> 00:25:35,200
Speaker 5: you have to have an income. You had been paid back,

537
00:25:35,200 --> 00:25:37,000
Speaker 5: but you have a decent credit score. You didn't play

538
00:25:37,040 --> 00:25:39,520
Speaker 5: games with the credit bureaus. You didn't pay for it.

539
00:25:40,480 --> 00:25:42,760
Speaker 5: And watch the approval come through. And by the way,

540
00:25:42,760 --> 00:25:45,160
Speaker 5: if it doesn't come, see me at Operation Hope. We'll

541
00:25:45,160 --> 00:25:47,479
Speaker 5: go advocate for you to the banks. I have a

542
00:25:47,480 --> 00:25:49,359
Speaker 5: policy at Operation Hope. Now I funded four and a

543
00:25:49,400 --> 00:25:51,560
Speaker 5: half billion dollars over thirty years. I have a policy.

544
00:25:52,520 --> 00:25:55,560
Speaker 5: I'll approve your loan. Of the bank doesn't, I'll put

545
00:25:55,600 --> 00:25:57,880
Speaker 5: up my balance sheet. If you do what we say

546
00:25:57,920 --> 00:25:59,480
Speaker 5: at Operation Hope, you get your credit score up, you

547
00:25:59,480 --> 00:26:02,000
Speaker 5: get your debt are, you get savings up? Just follow

548
00:26:02,040 --> 00:26:04,640
Speaker 5: what we're doing. What we're saying, we'll walk you into

549
00:26:04,680 --> 00:26:07,120
Speaker 5: the best bank with the best terms in America. They

550
00:26:07,160 --> 00:26:09,679
Speaker 5: may be racist, by the way, Maybe the person is

551
00:26:09,680 --> 00:26:11,520
Speaker 5: not the bank it's racist. Is a person you're talking to,

552
00:26:11,600 --> 00:26:13,680
Speaker 5: by the way, bank wants to make some money, right,

553
00:26:13,880 --> 00:26:15,760
Speaker 5: But if the person you're talking to happens have gone

554
00:26:15,760 --> 00:26:18,200
Speaker 5: from a horrible family and has is a racist, doesn't

555
00:26:18,200 --> 00:26:21,000
Speaker 5: want to give you a loan, We'll make sure they do. Now.

556
00:26:21,040 --> 00:26:22,719
Speaker 5: I went out to my self esteem depends on your

557
00:26:22,720 --> 00:26:24,960
Speaker 5: acceptance of me. I'm not coming to you for religious

558
00:26:24,960 --> 00:26:26,760
Speaker 5: and spiritual guidance. I mean, look, I'm coming to kid

559
00:26:26,840 --> 00:26:27,560
Speaker 5: a mortgage loan.

560
00:26:27,680 --> 00:26:29,040
Speaker 1: Right. I don't need you to be my friend.

561
00:26:29,080 --> 00:26:31,960
Speaker 5: It's okay if you don't like me, I like me, right, So,

562
00:26:32,320 --> 00:26:33,840
Speaker 5: but let's so let's keep the message straight.

563
00:26:33,880 --> 00:26:35,040
Speaker 1: I'm not coming to church. I'm coming.

564
00:26:35,160 --> 00:26:37,399
Speaker 5: I'm coming to get some capital. I will walk you

565
00:26:37,480 --> 00:26:40,440
Speaker 5: in there and dare them not to approve your loan.

566
00:26:41,080 --> 00:26:43,240
Speaker 5: The banks and the business are making money. They can't

567
00:26:43,240 --> 00:26:44,640
Speaker 5: make any money if they don't make a loan.

568
00:26:44,760 --> 00:26:46,160
Speaker 3: You think it's a good time right now?

569
00:26:46,200 --> 00:26:49,120
Speaker 2: To anybody out there buying a house absolutely with interest

570
00:26:49,160 --> 00:26:50,640
Speaker 2: rates so high, actual race is not.

571
00:26:50,680 --> 00:26:54,000
Speaker 1: I I mean, you're you're prodding me.

572
00:26:54,040 --> 00:26:56,280
Speaker 2: Look because four years ago they were, you know, people

573
00:26:56,280 --> 00:26:57,879
Speaker 2: are buying houses at one point nine to two.

574
00:26:57,720 --> 00:26:58,520
Speaker 1: Points free money.

575
00:26:58,600 --> 00:26:58,840
Speaker 4: DJ.

576
00:26:58,960 --> 00:26:59,560
Speaker 1: It was free money.

577
00:26:59,600 --> 00:27:03,359
Speaker 5: Come on, man, it's like capital on crack. It was

578
00:27:03,440 --> 00:27:06,000
Speaker 5: free money. Man, Like why and why was it free money?

579
00:27:06,000 --> 00:27:08,520
Speaker 5: Because we had the two thousand and eight crisis that

580
00:27:08,560 --> 00:27:11,959
Speaker 5: almost created the entire day on economy. People were you know,

581
00:27:12,160 --> 00:27:14,240
Speaker 5: asked getting a mortgage loan and saying what's the payment,

582
00:27:14,280 --> 00:27:17,640
Speaker 5: and people were doing a negative am negative amortization mortgages,

583
00:27:17,680 --> 00:27:19,399
Speaker 5: pick a pay mortgages like pick my payment.

584
00:27:19,520 --> 00:27:22,000
Speaker 1: It was crazy stuff. The trash man was getting a

585
00:27:22,000 --> 00:27:23,679
Speaker 1: million dollar house no interest.

586
00:27:24,160 --> 00:27:27,440
Speaker 5: Interesting, Oh my god, negative ammorization where you owed more

587
00:27:27,800 --> 00:27:30,080
Speaker 5: after the payment you made than you owed before. I mean,

588
00:27:31,520 --> 00:27:34,639
Speaker 5: so that the whole, the whole system went Craig Cray

589
00:27:34,960 --> 00:27:36,880
Speaker 5: and again Bill Clinton is a great quote. It's hard

590
00:27:36,880 --> 00:27:38,600
Speaker 5: to get somebody agreed to the truth, and the liar

591
00:27:38,640 --> 00:27:41,159
Speaker 5: is paying your paycheck. So that two thousand and eight

592
00:27:41,280 --> 00:27:43,520
Speaker 5: was a lie paying the paycheck for Wall Street. And

593
00:27:43,640 --> 00:27:46,359
Speaker 5: so the government had to like, Okay, we got to

594
00:27:46,400 --> 00:27:48,159
Speaker 5: repair this. And of course they did the thing, they

595
00:27:48,200 --> 00:27:50,240
Speaker 5: deal with the banks. But then it's like, we got

596
00:27:50,240 --> 00:27:51,440
Speaker 5: to get this we got to get the cost of

597
00:27:51,480 --> 00:27:54,719
Speaker 5: funds to a point where the economy is flowing. So

598
00:27:54,880 --> 00:27:57,679
Speaker 5: they took it to almost zero like Japan did. And

599
00:27:57,720 --> 00:27:59,960
Speaker 5: then when they tried to get everybody off capital craft,

600
00:28:00,680 --> 00:28:03,320
Speaker 5: Wall Street was like, every three or four years, Wall Street, no, no, no, no,

601
00:28:03,680 --> 00:28:05,479
Speaker 5: things are gonna get really horrible if you take if

602
00:28:05,480 --> 00:28:08,160
Speaker 5: you raise interest rates. So every FED chairman would try

603
00:28:08,160 --> 00:28:10,280
Speaker 5: to raise interest rates and Watery like no, Wall Streets

604
00:28:10,280 --> 00:28:12,640
Speaker 5: like no, no, no, and they and there'd be some crisis,

605
00:28:12,680 --> 00:28:15,080
Speaker 5: many crisis on Wall Street and wherever its President's like,

606
00:28:15,119 --> 00:28:17,000
Speaker 5: who wha wha wha, wha whah, not on my watch.

607
00:28:17,760 --> 00:28:19,159
Speaker 5: So they had to wait, I hate to say it

608
00:28:19,160 --> 00:28:21,679
Speaker 5: this way, they had to wait to a crisis that

609
00:28:21,840 --> 00:28:24,679
Speaker 5: had enough credibility that was COVID.

610
00:28:24,960 --> 00:28:25,240
Speaker 4: Wow.

611
00:28:26,320 --> 00:28:32,720
Speaker 5: When COVID hit, the policymakers were like, who could because

612
00:28:32,800 --> 00:28:34,639
Speaker 5: there's never been stimulus with a T in front of

613
00:28:34,680 --> 00:28:38,800
Speaker 5: it trillion in the history of the world. Think about this,

614
00:28:39,520 --> 00:28:43,440
Speaker 5: never no government has ever issued before the COVID trillion

615
00:28:43,840 --> 00:28:47,720
Speaker 5: dollar anything other than treasury bills or something. Right, So

616
00:28:48,080 --> 00:28:53,040
Speaker 5: we had six eight nine trillion. So when people say

617
00:28:53,080 --> 00:28:55,280
Speaker 5: inflation now, I'm like, no, no, you should be lucky.

618
00:28:55,280 --> 00:28:57,560
Speaker 5: The ship's not sank, like you should be lucky. This

619
00:28:57,600 --> 00:28:59,640
Speaker 5: is not the titannic. The fact that we're arguing over

620
00:28:59,680 --> 00:29:01,719
Speaker 5: three said interest rates. The President needs to get us

621
00:29:01,720 --> 00:29:05,560
Speaker 5: standing ovation, like we're the only growing economy in the world.

622
00:29:05,800 --> 00:29:07,800
Speaker 5: Were the biggest economy in the world, and we went

623
00:29:07,840 --> 00:29:10,960
Speaker 5: through the worst crisis since the Spanish flew one hundred

624
00:29:10,960 --> 00:29:12,520
Speaker 5: and twenty five years ago. We went through it for

625
00:29:12,560 --> 00:29:14,600
Speaker 5: four years, and we the economy was shut down for

626
00:29:14,640 --> 00:29:18,840
Speaker 5: two and here we are talking about, well, it is

627
00:29:18,920 --> 00:29:21,400
Speaker 5: interest rates. Are interest rates four or five percent? So

628
00:29:21,480 --> 00:29:23,280
Speaker 5: first of all, it was almost enough thing, and I

629
00:29:23,320 --> 00:29:26,120
Speaker 5: loved it. As an investor, I loved low interest rates.

630
00:29:26,120 --> 00:29:28,720
Speaker 5: I was paying for a I'll give you a personal example.

631
00:29:29,360 --> 00:29:31,760
Speaker 5: I had a a two million dollar line of credit.

632
00:29:32,680 --> 00:29:35,520
Speaker 5: I was making a payment every month of like twenty

633
00:29:35,520 --> 00:29:38,920
Speaker 5: five hundred dollars on my two million dollar line of credit.

634
00:29:38,960 --> 00:29:41,400
Speaker 5: I was loving this. Interest rates went up. Well, now

635
00:29:41,440 --> 00:29:43,680
Speaker 5: my payment every month is ten thousand dollars, So this

636
00:29:43,760 --> 00:29:45,840
Speaker 5: is a real adjustment. I'm rich and I still feel

637
00:29:45,880 --> 00:29:49,040
Speaker 5: that right. So it's yes, it's an adjustment, but you

638
00:29:49,080 --> 00:29:51,320
Speaker 5: can't argue with five percent. When when my mom and

639
00:29:51,360 --> 00:29:54,200
Speaker 5: dad were coming up. Interest rates were eighteen.

640
00:29:53,800 --> 00:29:55,720
Speaker 3: Percent in my first house was sixteen.

641
00:29:56,000 --> 00:29:58,520
Speaker 5: There you go, right, and if you're financially literate today,

642
00:29:58,640 --> 00:30:01,600
Speaker 5: you feel you're still paying sixteen percent. You go into

643
00:30:01,640 --> 00:30:04,480
Speaker 5: a car lot and you're not getting a Mercedes. You

644
00:30:04,520 --> 00:30:07,520
Speaker 5: get mercy these payments because that interest rate is eighteen

645
00:30:07,680 --> 00:30:08,760
Speaker 5: nineteen twenty percent.

646
00:30:08,760 --> 00:30:10,840
Speaker 1: They own the paper. By the way.

647
00:30:10,960 --> 00:30:15,920
Speaker 5: People just getting pimped every day because they hope you

648
00:30:15,960 --> 00:30:17,320
Speaker 5: default on that car a loan.

649
00:30:17,360 --> 00:30:20,320
Speaker 1: They hope you drive it for a year it breaks,

650
00:30:20,400 --> 00:30:22,840
Speaker 1: or you break, you bring the car.

651
00:30:22,760 --> 00:30:25,120
Speaker 5: Back, they have a little argument with you, they hit

652
00:30:25,160 --> 00:30:27,400
Speaker 5: your credit report, they get another payment from you, They

653
00:30:27,440 --> 00:30:30,200
Speaker 5: take your security deposit, They repair that in the shop

654
00:30:30,200 --> 00:30:32,280
Speaker 5: in the back, which is where they really make their money, maintenance,

655
00:30:32,640 --> 00:30:34,760
Speaker 5: and they resell it through the second most profitable thing

656
00:30:34,800 --> 00:30:37,880
Speaker 5: in that car dealership, which is finance department. There's three

657
00:30:37,920 --> 00:30:45,600
Speaker 5: departments in our auto dealership, sales, maintenance in finance, sales

658
00:30:45,680 --> 00:30:49,040
Speaker 5: is the least profitable of the three areas. But we

659
00:30:49,080 --> 00:30:51,880
Speaker 5: obsess what do we do? We obsess about what's the

660
00:30:51,920 --> 00:30:54,120
Speaker 5: purchase price? And then how do I get the loan

661
00:30:54,200 --> 00:30:56,040
Speaker 5: that I want? Here's a payment I want, which is

662
00:30:56,600 --> 00:31:00,520
Speaker 5: exactly wrong question going back to your issue. If you're

663
00:31:00,520 --> 00:31:02,680
Speaker 5: financially illiterate, you're not asking what the interest rate is,

664
00:31:02,720 --> 00:31:05,120
Speaker 5: you're asking what the payment is correct, and you never

665
00:31:05,160 --> 00:31:07,120
Speaker 5: ask what the payment is when there's an interest rate attached.

666
00:31:07,800 --> 00:31:11,080
Speaker 5: So five percent is yes, higher than this generation has

667
00:31:11,120 --> 00:31:13,320
Speaker 5: ever seen. This generation has only seen a black president

668
00:31:13,360 --> 00:31:16,480
Speaker 5: and social justice and all that. We're a little spoiled,

669
00:31:16,800 --> 00:31:19,200
Speaker 5: but it's actually not that bad, and we need to

670
00:31:19,200 --> 00:31:20,480
Speaker 5: get used to it because it's going to be around

671
00:31:20,520 --> 00:31:21,680
Speaker 5: for a while. I don't think the interest rates are

672
00:31:21,720 --> 00:31:24,520
Speaker 5: going to go up any more. I actually think they're

673
00:31:24,560 --> 00:31:26,120
Speaker 5: going to come down a clip at the end of

674
00:31:26,160 --> 00:31:30,040
Speaker 5: the year. But I do believe that we're in the

675
00:31:31,160 --> 00:31:32,600
Speaker 5: we can get down to back down to four percent.

676
00:31:32,680 --> 00:31:35,680
Speaker 5: Consider ourselves lucky. I think we're in the four to

677
00:31:35,760 --> 00:31:38,520
Speaker 5: five percent era for a while. But by the way,

678
00:31:38,640 --> 00:31:41,440
Speaker 5: that's the best in the world. You go to the Caribbean.

679
00:31:41,480 --> 00:31:43,600
Speaker 5: I own property in the Caribbean. When interest rates were

680
00:31:43,600 --> 00:31:46,480
Speaker 5: two percent, they were doing six and eight percent. And

681
00:31:46,560 --> 00:31:48,760
Speaker 5: when you can finance the mortgage for thirty years here,

682
00:31:48,840 --> 00:31:51,840
Speaker 5: they financed it for five or ten years there. We

683
00:31:52,200 --> 00:31:53,880
Speaker 5: have a great system here.

684
00:31:53,960 --> 00:31:54,760
Speaker 1: Actually, So what.

685
00:31:54,720 --> 00:31:57,280
Speaker 2: Would you advise people who are are listening right now.

686
00:31:57,360 --> 00:31:59,640
Speaker 2: Who might be a doctor, might be a bus driver,

687
00:31:59,760 --> 00:32:02,960
Speaker 2: might be you know, working every day. How would you

688
00:32:03,040 --> 00:32:05,440
Speaker 2: advise them to set up for not only their future,

689
00:32:05,480 --> 00:32:07,640
Speaker 2: but their children's future. So maybe they don't have to

690
00:32:07,640 --> 00:32:08,840
Speaker 2: work for the rest of their life and they can

691
00:32:08,920 --> 00:32:09,680
Speaker 2: enjoy some of their life.

692
00:32:09,720 --> 00:32:11,320
Speaker 4: What would you advise from there?

693
00:32:11,680 --> 00:32:13,760
Speaker 5: So, first of all, get financial literacy for all, get

694
00:32:13,800 --> 00:32:16,120
Speaker 5: the book. I wrote the book because now everybody can

695
00:32:16,160 --> 00:32:18,440
Speaker 5: be the clients of Operation Hope. Now everybody can have

696
00:32:18,480 --> 00:32:20,440
Speaker 5: a conversation with me. By the way, when I go

697
00:32:20,480 --> 00:32:24,520
Speaker 5: through airports, the TSA agents, Yo man, six p't eighty.

698
00:32:25,560 --> 00:32:28,440
Speaker 5: That's dope, Yo man, I'm seven twelve. It is dope

699
00:32:28,800 --> 00:32:31,000
Speaker 5: that they're calling out the credit square to me. That's

700
00:32:31,000 --> 00:32:33,760
Speaker 5: exactly what you want. We got to make smart sexy again.

701
00:32:33,800 --> 00:32:36,880
Speaker 5: We've been making dumb sexy for way too long, dumbed

702
00:32:36,920 --> 00:32:37,920
Speaker 5: down and celebrated it.

703
00:32:38,920 --> 00:32:39,760
Speaker 1: So get the book.

704
00:32:40,000 --> 00:32:43,080
Speaker 5: Half weekly conversations about money at the kitchen table, Like,

705
00:32:43,160 --> 00:32:45,360
Speaker 5: we don't talk to each other, we talk at each other.

706
00:32:45,440 --> 00:32:47,600
Speaker 5: We talked past each other. We don't sit down and

707
00:32:47,640 --> 00:32:49,960
Speaker 5: have dinner anymore.

708
00:32:50,040 --> 00:32:52,360
Speaker 2: It changed a lot with kids, though, because I never

709
00:32:52,400 --> 00:32:55,120
Speaker 2: had that conversation with my pop so my mother about finances, right,

710
00:32:55,320 --> 00:32:57,560
Speaker 2: it was just dead thing. You mind your business and

711
00:32:58,120 --> 00:33:00,120
Speaker 2: an adult and this adult. But I have to those

712
00:33:00,160 --> 00:33:02,400
Speaker 2: conversations with my kids now and they understand it a

713
00:33:02,400 --> 00:33:04,400
Speaker 2: lot more. They know how to make money, they know

714
00:33:04,520 --> 00:33:06,480
Speaker 2: where the money goes, they know what mortgage, they know

715
00:33:06,560 --> 00:33:08,880
Speaker 2: interest rates. They know more than I ever did at

716
00:33:08,880 --> 00:33:12,080
Speaker 2: my age, which makes them have a different relationship with money.

717
00:33:12,120 --> 00:33:14,360
Speaker 5: But you're the exception that, with all due respect, you're

718
00:33:14,400 --> 00:33:16,400
Speaker 5: the exception and not the rule. I love you doing

719
00:33:16,440 --> 00:33:18,920
Speaker 5: that right, But that's not the real brother. That is

720
00:33:18,960 --> 00:33:21,719
Speaker 5: not what I see at operation home. That's not what

721
00:33:21,760 --> 00:33:23,200
Speaker 5: I'm seeing in the community.

722
00:33:23,240 --> 00:33:23,600
Speaker 1: People.

723
00:33:24,680 --> 00:33:28,880
Speaker 5: Look, we mix our self esteem with our money or

724
00:33:28,920 --> 00:33:31,200
Speaker 5: the lack thereof. And if I don't like me, I'm

725
00:33:31,240 --> 00:33:33,880
Speaker 5: not gonna like you. If I don't feel good about me,

726
00:33:33,920 --> 00:33:36,000
Speaker 5: I'm not gonna feel good about you. If I don't

727
00:33:36,040 --> 00:33:37,920
Speaker 5: respect me, don't expect me to respect you. If I

728
00:33:37,920 --> 00:33:39,320
Speaker 5: don't love me, I don't have a clue how to

729
00:33:39,320 --> 00:33:40,920
Speaker 5: love you. If I don't have a purpose in my life,

730
00:33:40,960 --> 00:33:43,200
Speaker 5: I'll make your life a living hell. Whatever goes around

731
00:33:43,240 --> 00:33:45,959
Speaker 5: comes around. Now you got a surviving mindset, Now you're

732
00:33:46,000 --> 00:33:48,560
Speaker 5: expert in what you're against, not what you're for, right,

733
00:33:49,200 --> 00:33:52,520
Speaker 5: And you don't have a builder's mindset, you're not your

734
00:33:52,560 --> 00:33:55,440
Speaker 5: head's not clear. A lot of our people, our head

735
00:33:55,520 --> 00:34:00,520
Speaker 5: is not clear, and so we shop for therapy. You know,

736
00:34:00,560 --> 00:34:15,120
Speaker 5: we have a bunch of ing's living up, running our lives, shopping, drinking, drugging, sleeping, oversleeping, sexing, texting, trolling, partying, hanging,

737
00:34:15,440 --> 00:34:18,319
Speaker 5: all this stuff and moderation most of it. It's not that bad,

738
00:34:18,360 --> 00:34:23,400
Speaker 5: but we obsessed about it. When you're depressed, literally, a

739
00:34:25,239 --> 00:34:27,880
Speaker 5: depression is tied to an addiction. An addiction is a

740
00:34:27,920 --> 00:34:31,600
Speaker 5: response to an emotion you can't handle, and your reaction

741
00:34:31,680 --> 00:34:33,560
Speaker 5: to that should be the heel, which and the deal,

742
00:34:33,600 --> 00:34:35,480
Speaker 5: which is what you just said, which is what me

743
00:34:35,520 --> 00:34:38,200
Speaker 5: and Charlot Mane's conversations are always about. But healing for

744
00:34:38,280 --> 00:34:41,120
Speaker 5: most people is just too tough. So they just they

745
00:34:41,239 --> 00:34:45,520
Speaker 5: just cope. Most of the world copes, and they cope

746
00:34:45,520 --> 00:34:48,520
Speaker 5: by pulling out of that credit card and going buying

747
00:34:48,560 --> 00:34:51,279
Speaker 5: something they can't afford to impress people they don't know

748
00:34:51,640 --> 00:34:55,239
Speaker 5: about stuff that don't matter in places where they don't

749
00:34:55,280 --> 00:34:57,880
Speaker 5: want them. And so what I say is get your

750
00:34:57,920 --> 00:35:01,960
Speaker 5: self esteem right, because I'm reasonably comfortable in your own skin.

751
00:35:02,280 --> 00:35:06,760
Speaker 5: Learn to love yourself, hold and complete that's that's that's

752
00:35:06,800 --> 00:35:09,160
Speaker 5: where it starts. And then once your head is clear

753
00:35:09,200 --> 00:35:10,640
Speaker 5: and you've got and you got a clear head like

754
00:35:10,680 --> 00:35:12,719
Speaker 5: you gotta get you gotta fight this Dwe fight from

755
00:35:12,719 --> 00:35:15,960
Speaker 5: the neck up in here. Get have their your your

756
00:35:16,040 --> 00:35:18,240
Speaker 5: mind has to be right. This is where wealth gets created.

757
00:35:18,840 --> 00:35:22,360
Speaker 5: A drug dealer can make money, a pimp can make money,

758
00:35:23,040 --> 00:35:25,960
Speaker 5: a murderer can make money, a hit man can make money.

759
00:35:26,239 --> 00:35:29,160
Speaker 5: Wall Street can make money. Anybody can make money. That's

760
00:35:29,200 --> 00:35:32,680
Speaker 5: that's that's something magical about that. But money is velocity, man,

761
00:35:33,080 --> 00:35:35,120
Speaker 5: it will come through your hands. That's why you may

762
00:35:35,120 --> 00:35:37,279
Speaker 5: can make a one hundred million dollar NBA contract and

763
00:35:37,320 --> 00:35:40,880
Speaker 5: working at Starbucks in seven years. That's how so I

764
00:35:40,880 --> 00:35:43,640
Speaker 5: can win the lottery. Seventy percent of those winning the

765
00:35:43,680 --> 00:35:47,000
Speaker 5: lottery broke bankrupt in five years. Seventy percent of NFL

766
00:35:47,040 --> 00:35:51,040
Speaker 5: and NBA players busted in five years after they retire.

767
00:35:51,160 --> 00:35:54,480
Speaker 5: So it's not about it's not about rich. Is a contract.

768
00:35:54,880 --> 00:35:57,640
Speaker 5: Riches is tied to an income. But that income if

769
00:35:57,680 --> 00:35:59,640
Speaker 5: your if your X flow, if your outfloks, he's your

770
00:35:59,640 --> 00:36:01,920
Speaker 5: inflow in your overhead will be your downfall. And you

771
00:36:01,920 --> 00:36:04,840
Speaker 5: can do that whether you're making thirty thousand dollars a

772
00:36:04,920 --> 00:36:08,440
Speaker 5: year or three million dollars a year, if you're financially illiterate,

773
00:36:09,040 --> 00:36:11,799
Speaker 5: if your self esteem's not right, if your values are

774
00:36:11,800 --> 00:36:15,359
Speaker 5: not right. And as you said, it's not like we're

775
00:36:15,360 --> 00:36:18,480
Speaker 5: not dumbing, we're not stupid. Most single parents need a

776
00:36:18,520 --> 00:36:21,839
Speaker 5: Nobel Peace Prize for running a household with too much

777
00:36:21,880 --> 00:36:24,839
Speaker 5: month of to end their money. I'm not jamming anybody up,

778
00:36:25,160 --> 00:36:28,200
Speaker 5: but I'm saying that just because somebody sets you up

779
00:36:28,280 --> 00:36:31,480
Speaker 5: doesn't mean you need to continue to play into that narrative.

780
00:36:32,440 --> 00:36:37,520
Speaker 5: So we need to flip the script. Start having family

781
00:36:37,560 --> 00:36:42,040
Speaker 5: meetings every week about the lights don't come on by themselves.

782
00:36:42,160 --> 00:36:45,000
Speaker 5: Let's walk through the family budget. What does it cost

783
00:36:45,000 --> 00:36:48,960
Speaker 5: for us to live. Let's buy that house in the hood,

784
00:36:49,239 --> 00:36:53,280
Speaker 5: d a hyphen h ood, buy it by the worst

785
00:36:53,320 --> 00:36:58,800
Speaker 5: house on the best block, buy it, rehabit, live in it,

786
00:36:58,800 --> 00:37:02,160
Speaker 5: build a equity for two or three years. Take the equity,

787
00:37:02,600 --> 00:37:08,240
Speaker 5: buy another house in a working class neighborhood. No mansions, no, no,

788
00:37:08,239 --> 00:37:14,520
Speaker 5: no flossin, buy rehabit and rent it. Do that a

789
00:37:14,560 --> 00:37:16,960
Speaker 5: third time. You do that three times, you'll be you'll

790
00:37:17,000 --> 00:37:19,200
Speaker 5: be a millionaire. That was my mother's story. That's one

791
00:37:19,160 --> 00:37:21,919
Speaker 5: of the smith who worked an hourly job at McDonald's

792
00:37:21,920 --> 00:37:24,440
Speaker 5: aircraft and died with a million dollar net worth having

793
00:37:24,480 --> 00:37:27,399
Speaker 5: bought and sold seven homes. A person listening to this

794
00:37:27,880 --> 00:37:31,160
Speaker 5: with an hourly job can become a millionaire. Now, somebody says, well, John,

795
00:37:31,160 --> 00:37:34,359
Speaker 5: where's a capital come from? Okay, here's knowledge earning them

796
00:37:34,360 --> 00:37:38,120
Speaker 5: tax credit. Now you earn EI. You earned thirty eight

797
00:37:38,120 --> 00:37:40,160
Speaker 5: thousand dollars a year. You're listening to this program. You're

798
00:37:40,160 --> 00:37:45,360
Speaker 5: a teacher or whatever. You have three children. Congratulations, you

799
00:37:45,480 --> 00:37:48,759
Speaker 5: just qualify for EI TC. If somebody says, what's that

800
00:37:49,239 --> 00:37:51,640
Speaker 5: you just all of you just hooked that person up

801
00:37:51,640 --> 00:37:55,160
Speaker 5: with a check because all you do is work and

802
00:37:55,280 --> 00:37:57,879
Speaker 5: have children in this example, and the government owes you

803
00:37:58,160 --> 00:38:02,440
Speaker 5: in this example about six thousand dollar. Now, DJ, it's

804
00:38:02,520 --> 00:38:04,200
Speaker 5: retroactive for three years.

805
00:38:04,719 --> 00:38:05,520
Speaker 4: Where do you go to get that?

806
00:38:06,440 --> 00:38:10,880
Speaker 5: US or the federal government are our vita sites with

807
00:38:10,920 --> 00:38:13,279
Speaker 5: the IRS? Are your tax pro But most people who

808
00:38:13,360 --> 00:38:15,600
Speaker 5: have a working income don't have a tax pro so

809
00:38:15,640 --> 00:38:18,759
Speaker 5: you don't even know. Twenty billion dollars a year goes

810
00:38:18,800 --> 00:38:21,040
Speaker 5: back to the federal government every year because poor and

811
00:38:21,080 --> 00:38:23,520
Speaker 5: working class people don't ask for the money that is

812
00:38:23,640 --> 00:38:27,399
Speaker 5: already allocated for you, and the policymakers in Washington know

813
00:38:27,480 --> 00:38:29,439
Speaker 5: you're not going to ask for it, and they get

814
00:38:29,480 --> 00:38:32,080
Speaker 5: the political credit for approving it and then reallocate that

815
00:38:32,520 --> 00:38:34,320
Speaker 5: to something in their district because they know you're not

816
00:38:34,360 --> 00:38:34,840
Speaker 5: gonna claim it.

817
00:38:34,840 --> 00:38:36,680
Speaker 4: Exactly, it's not glas work, but you don't have the information

818
00:38:36,760 --> 00:38:37,120
Speaker 4: that's it.

819
00:38:37,440 --> 00:38:39,960
Speaker 5: And we're changing that today. So this example, if you've

820
00:38:40,000 --> 00:38:43,040
Speaker 5: never filed for eiit see earn income tax credit. In

821
00:38:43,040 --> 00:38:45,360
Speaker 5: this example, you got to check for almost twenty thousand dollars.

822
00:38:46,160 --> 00:38:48,040
Speaker 5: You take that twenty thousand dollars, you then use it

823
00:38:48,080 --> 00:38:50,279
Speaker 5: a down payment on that house I just mentioned. Right,

824
00:38:50,320 --> 00:38:52,520
Speaker 5: we're gonna get your credits grew up at Operation Hope

825
00:38:52,560 --> 00:38:54,520
Speaker 5: fifty four points to one hundred points. We're gonna get

826
00:38:54,520 --> 00:38:56,520
Speaker 5: your debt down thirty eight hundred dollars. We're gonna get

827
00:38:56,520 --> 00:38:58,719
Speaker 5: your savings up through budgeting two thousand dollars. You don't

828
00:38:58,719 --> 00:39:00,640
Speaker 5: need to go to Starbucks three times. Way, go use

829
00:39:00,640 --> 00:39:01,480
Speaker 5: a carrging machine.

830
00:39:01,600 --> 00:39:01,880
Speaker 1: Right.

831
00:39:02,480 --> 00:39:04,359
Speaker 5: You know you shouldn't be smoking cigarettes. It's gonna kill

832
00:39:04,360 --> 00:39:07,120
Speaker 5: you anyway, right, So let's just change that's six thousand

833
00:39:07,120 --> 00:39:10,279
Speaker 5: dollars a year. You smoke and go to Starbucks every week.

834
00:39:10,360 --> 00:39:12,479
Speaker 5: That's six thousand dollars a year. You making thirty six

835
00:39:12,719 --> 00:39:15,160
Speaker 5: thousand dollars a year. Help me with the math. That's

836
00:39:15,160 --> 00:39:17,680
Speaker 5: almost twenty percent of your income. Two ways of making

837
00:39:17,719 --> 00:39:20,000
Speaker 5: money make more and spend less. This is this is

838
00:39:20,000 --> 00:39:21,760
Speaker 5: a This is rapping. I mean this is a different

839
00:39:21,800 --> 00:39:24,719
Speaker 5: form yep a rap. It's just this is intelligent rap.

840
00:39:24,719 --> 00:39:26,160
Speaker 5: This is the kind of wrap that leaves you better.

841
00:39:26,200 --> 00:39:28,240
Speaker 4: Well, you got your division. What say are people parish

842
00:39:28,239 --> 00:39:29,120
Speaker 4: from a lack of knowledge?

843
00:39:29,280 --> 00:39:29,680
Speaker 1: That part?

844
00:39:29,719 --> 00:39:32,160
Speaker 4: And that's there's two things we have to get to today.

845
00:39:32,200 --> 00:39:34,680
Speaker 4: You know, we were having a lot of conversations man,

846
00:39:34,719 --> 00:39:37,520
Speaker 4: and I don't think you've ever shared this publicly but

847
00:39:37,719 --> 00:39:42,560
Speaker 4: never why is diversity and inclusion the only way America

848
00:39:42,960 --> 00:39:43,680
Speaker 4: will survive?

849
00:39:44,640 --> 00:39:48,360
Speaker 5: So on this topic of d E and I and

850
00:39:48,440 --> 00:39:51,680
Speaker 5: I've never shared this with anybody. It's because of you

851
00:39:51,760 --> 00:39:53,799
Speaker 5: that I actually got focused on this. You called me

852
00:39:53,800 --> 00:39:55,840
Speaker 5: on a Sunday and we had this great conversation for

853
00:39:55,880 --> 00:39:58,320
Speaker 5: an hour and you're like, Okay, with John, what should

854
00:39:58,320 --> 00:40:00,000
Speaker 5: we do? You can't we can't just like let peop

855
00:40:00,000 --> 00:40:02,320
Speaker 5: we get away to doing nothing. It caught me to thinking,

856
00:40:02,440 --> 00:40:03,879
Speaker 5: so I said, well, here's the six things I think

857
00:40:03,880 --> 00:40:07,520
Speaker 5: we should do, and you're like, write that down and

858
00:40:07,520 --> 00:40:10,680
Speaker 5: and come on the show. So coincidence is God's way

859
00:40:10,680 --> 00:40:12,440
Speaker 5: of remaining anonymous. Just so happened as the book was

860
00:40:12,440 --> 00:40:14,319
Speaker 5: out at the same time, and all this stuff worked

861
00:40:14,320 --> 00:40:17,560
Speaker 5: for good. But black people are too emotional on this topic,

862
00:40:18,120 --> 00:40:21,040
Speaker 5: and some white people are too narrow minded and fearful.

863
00:40:22,200 --> 00:40:26,080
Speaker 5: This literally makes no sense. Like this, I'm dropping this today.

864
00:40:26,400 --> 00:40:28,760
Speaker 5: We're gonna publish this in a couple of weeks, I believe,

865
00:40:28,760 --> 00:40:33,200
Speaker 5: on CNBC, and I'm taking on the entire hard right,

866
00:40:34,400 --> 00:40:37,279
Speaker 5: and my prediction is they won't have much to say.

867
00:40:38,440 --> 00:40:41,640
Speaker 5: Here's why it's called a business plan for America. Now,

868
00:40:41,680 --> 00:40:45,000
Speaker 5: I'm gonna do this real quickly. In nineteen fifty two,

869
00:40:45,160 --> 00:40:48,799
Speaker 5: America was ninety percent white. That that's sink in for

870
00:40:48,840 --> 00:40:51,520
Speaker 5: a minute. That meant that with doctor King and Andrew

871
00:40:51,560 --> 00:40:54,000
Speaker 5: Young and Dorothy Hyde did in the civil rights movement

872
00:40:54,040 --> 00:40:58,120
Speaker 5: was genius because basically America was doing the moral thing

873
00:40:58,280 --> 00:41:01,280
Speaker 5: because we didn't have the numbers. America today is forty

874
00:41:01,280 --> 00:41:04,720
Speaker 5: percent black and brown, and you add all other minorities

875
00:41:04,760 --> 00:41:07,200
Speaker 5: in we're already a majority of minorities, but black and

876
00:41:07,239 --> 00:41:10,200
Speaker 5: brown group will be a majority of minority within ten

877
00:41:10,800 --> 00:41:14,080
Speaker 5: or so years. Now hold that together, So now we're

878
00:41:14,120 --> 00:41:16,759
Speaker 5: a majority of minorities. Those we're going to be the

879
00:41:16,760 --> 00:41:19,759
Speaker 5: surf first generation where the population is the majority over

880
00:41:19,800 --> 00:41:23,000
Speaker 5: sixty five years of age read baby boomers, who are white,

881
00:41:23,080 --> 00:41:25,759
Speaker 5: wealthy and trying to retire. By the way, none of

882
00:41:25,800 --> 00:41:28,359
Speaker 5: my comments are racial, This is just the math. So

883
00:41:28,480 --> 00:41:30,480
Speaker 5: in our lifetime, you're going to have the first generation

884
00:41:31,000 --> 00:41:34,400
Speaker 5: over sixty five years of age, wealthy, white trying to retire.

885
00:41:35,280 --> 00:41:38,160
Speaker 5: SOB security by nineteen by twenty thirty four will only

886
00:41:38,200 --> 00:41:40,800
Speaker 5: be able to pay seventy cents of every dollar for retirement.

887
00:41:40,920 --> 00:41:42,760
Speaker 5: Hold that up there, which means you need more money

888
00:41:42,760 --> 00:41:45,120
Speaker 5: going into SOB security. Now you have a population of

889
00:41:45,160 --> 00:41:47,400
Speaker 5: black and brown people for the first time in history,

890
00:41:47,440 --> 00:41:49,520
Speaker 5: that's basically going to be a majority of minority, and

891
00:41:49,520 --> 00:41:52,400
Speaker 5: that's just going to keep escalating. The largest population of

892
00:41:52,440 --> 00:41:55,480
Speaker 5: poverty in this country are poor whites, which people don't know.

893
00:41:55,800 --> 00:41:57,520
Speaker 5: In the number one group dying are high school you

894
00:41:57,560 --> 00:41:59,880
Speaker 5: heated white high school educated white men. Hold all that

895
00:42:00,040 --> 00:42:01,680
Speaker 5: to the side for a minute.

896
00:42:02,200 --> 00:42:03,440
Speaker 1: Now you have.

897
00:42:05,040 --> 00:42:08,640
Speaker 5: By the twenty forty five census, you're going to have

898
00:42:08,719 --> 00:42:12,040
Speaker 5: all these sort of numbers coagulating together, and you're going

899
00:42:12,120 --> 00:42:15,239
Speaker 5: to have an economy that doesn't work anymore because we're

900
00:42:15,239 --> 00:42:17,799
Speaker 5: not working. You don't have Because black and brown people

901
00:42:17,840 --> 00:42:21,600
Speaker 5: are never given the memo on free enterprise, capitalism, economics, ownership,

902
00:42:21,640 --> 00:42:25,759
Speaker 5: and opportunity, we confuse making money with building wealth. By

903
00:42:25,880 --> 00:42:29,359
Speaker 5: twenty fifty three, black America will have a network worth

904
00:42:29,400 --> 00:42:34,279
Speaker 5: of zero. That that think in for a minute, if

905
00:42:34,280 --> 00:42:35,960
Speaker 5: we do nothing, but all we're doing right now, I

906
00:42:35,960 --> 00:42:38,200
Speaker 5: didn't say poor people. If all we do is what

907
00:42:38,200 --> 00:42:40,040
Speaker 5: we're doing right now, right now black people own to

908
00:42:40,120 --> 00:42:42,279
Speaker 5: have a network. Forty one percent of Black people own

909
00:42:42,280 --> 00:42:45,759
Speaker 5: a home forty one to forty three percent. The number

910
00:42:45,760 --> 00:42:49,399
Speaker 5: one way you build wealth in America is homeownership. It's

911
00:42:49,440 --> 00:42:52,200
Speaker 5: part of what we've been talking about today. And once

912
00:42:52,200 --> 00:42:56,000
Speaker 5: you own, become a homeowner, I mean literally there's not enough.

913
00:42:56,400 --> 00:42:58,680
Speaker 5: There's only so much land, and that's it.

914
00:42:58,680 --> 00:42:59,400
Speaker 1: It's done.

915
00:42:59,600 --> 00:43:01,719
Speaker 5: Once you only you own a piece of this rock man,

916
00:43:01,760 --> 00:43:04,040
Speaker 5: and that is hard for that value not to go

917
00:43:04,120 --> 00:43:07,280
Speaker 5: up if you're anywhere near places of economic activity and jobs.

918
00:43:07,280 --> 00:43:10,200
Speaker 5: So that's where how people compound when they sleep, but

919
00:43:10,239 --> 00:43:13,200
Speaker 5: we don't own homes. Latinos are not much better. By

920
00:43:13,200 --> 00:43:16,560
Speaker 5: twenty seventy two, I believe it was Latinos will have

921
00:43:16,600 --> 00:43:19,759
Speaker 5: a net worth of zero. So the two groups that

922
00:43:19,800 --> 00:43:22,399
Speaker 5: are gonna be the majority of minorities were never taught

923
00:43:22,440 --> 00:43:25,960
Speaker 5: free enterprise, capitalism, economics, and opportunity. We're the Okay, So

924
00:43:26,000 --> 00:43:29,920
Speaker 5: now let's deal with diversity inclusion. What's the biggest economy

925
00:43:29,920 --> 00:43:32,080
Speaker 5: in the world. Have already said at the US. What's

926
00:43:32,080 --> 00:43:34,920
Speaker 5: the most diverse country in the world? The US, we're

927
00:43:34,960 --> 00:43:39,440
Speaker 5: the two most diverse states. California and New York was

928
00:43:39,480 --> 00:43:43,279
Speaker 5: the two most prosperous states. These are not trick questions. California, California,

929
00:43:43,280 --> 00:43:45,360
Speaker 5: and New York? All right, what's the most What's the

930
00:43:45,400 --> 00:43:47,680
Speaker 5: biggest economy in the South? Not a trick question.

931
00:43:48,040 --> 00:43:49,160
Speaker 4: The biggest economy is all.

932
00:43:49,160 --> 00:43:52,840
Speaker 5: No biggest economy in the American South. There's a traditional

933
00:43:52,880 --> 00:43:56,520
Speaker 5: American South Atlanta four hundred and fifty five billion dollars

934
00:43:56,560 --> 00:43:59,120
Speaker 5: a year, tenth Lar's economy in the United States.

935
00:43:59,560 --> 00:44:02,640
Speaker 1: What's the most diverse place in the traditional South?

936
00:44:02,680 --> 00:44:03,080
Speaker 4: Atlanta?

937
00:44:03,480 --> 00:44:04,040
Speaker 1: Atlanta.

938
00:44:04,480 --> 00:44:08,120
Speaker 5: Now you take six states around Atlanta, states not cities.

939
00:44:08,920 --> 00:44:11,360
Speaker 5: You can name them Alabama, Mississippi, like you can name them.

940
00:44:12,040 --> 00:44:16,800
Speaker 5: The Atlanta City economy is bigger than all six states.

941
00:44:18,400 --> 00:44:21,960
Speaker 5: You can take three of those states together, put them

942
00:44:21,960 --> 00:44:25,239
Speaker 5: inside a bucket, and sit it inside of the City

943
00:44:25,280 --> 00:44:29,800
Speaker 5: of Atlanta's economy. That's because diversity is actually good business.

944
00:44:30,200 --> 00:44:32,319
Speaker 5: If you're a business today, a company, a Fortune five

945
00:44:32,360 --> 00:44:35,839
Speaker 5: hundred company, you're thirty six more likely to be prosperous

946
00:44:36,160 --> 00:44:39,600
Speaker 5: and profitable if you're diverse and inclusive. Put another way,

947
00:44:39,640 --> 00:44:44,400
Speaker 5: the most profitable big companies in America are diverse and inclusive.

948
00:44:45,080 --> 00:44:46,920
Speaker 5: The math on this stuff, and we can go on.

949
00:44:47,080 --> 00:44:49,319
Speaker 5: You know, I can do this forever, but I think

950
00:44:49,320 --> 00:44:51,840
Speaker 5: the point is sort of obvious. What I'm saying is

951
00:44:51,880 --> 00:44:55,280
Speaker 5: that the mass is undeniable. And here's another One City

952
00:44:55,280 --> 00:44:57,839
Speaker 5: Group did a report, not the NAACP, which I love,

953
00:44:58,000 --> 00:45:01,240
Speaker 5: not the Urban League, not Operation No, not Lara City

954
00:45:01,280 --> 00:45:04,960
Speaker 5: Group did a report on racism about black people twenty

955
00:45:05,000 --> 00:45:10,080
Speaker 5: twenty to twenty twenty to twenty twenty. Discriminations against blacks

956
00:45:10,120 --> 00:45:16,480
Speaker 5: alone costs the US economy sixteen trillion dollars trillion. The

957
00:45:16,520 --> 00:45:20,319
Speaker 5: only the annual economy is twenty two trillion. And if

958
00:45:20,320 --> 00:45:21,879
Speaker 5: we just knock it off, you pick up a trillion

959
00:45:21,920 --> 00:45:22,440
Speaker 5: dollars a year.

960
00:45:22,520 --> 00:45:24,279
Speaker 4: You mean you can look up too. Don't think John

961
00:45:24,320 --> 00:45:26,800
Speaker 4: O'Brien is just saying this stuff you've sent me to information.

962
00:45:26,800 --> 00:45:27,480
Speaker 4: I've read these.

963
00:45:27,360 --> 00:45:30,360
Speaker 5: Articles everything I'm saying here. If you're nosy, if you

964
00:45:30,400 --> 00:45:33,520
Speaker 5: knows he likes me and Charlottemagne and now DJ and

965
00:45:33,520 --> 00:45:35,480
Speaker 5: now I know you. If you knows he liked me

966
00:45:35,640 --> 00:45:37,880
Speaker 5: like us, you can look this up and confirm everything

967
00:45:37,920 --> 00:45:42,600
Speaker 5: I'm saying. So what am I really saying? How do

968
00:45:42,680 --> 00:45:47,279
Speaker 5: you cancel the diversity, equity and inclusion programs which are

969
00:45:47,320 --> 00:45:50,960
Speaker 5: basically D D E and I is the R and

970
00:45:51,040 --> 00:45:53,880
Speaker 5: D the research and development for the future economy because

971
00:45:53,920 --> 00:45:57,120
Speaker 5: seventy percent of the US economy is consumer spending. Seventy

972
00:45:57,960 --> 00:46:00,840
Speaker 5: is you and me buying coffee, going our car notes,

973
00:46:01,080 --> 00:46:05,160
Speaker 5: paying mortgages, going to dinner. So if the folks replacing

974
00:46:05,200 --> 00:46:09,080
Speaker 5: the folks got the jokes but don't have the capital,

975
00:46:09,640 --> 00:46:11,359
Speaker 5: we can rock the stage, but don't own the right,

976
00:46:11,400 --> 00:46:13,680
Speaker 5: don't own but don't own the stage. We can bounce

977
00:46:13,719 --> 00:46:16,120
Speaker 5: the basketball, but don't own the team. We can rent

978
00:46:16,120 --> 00:46:18,080
Speaker 5: the house, but don't own. We don't have a mortgage

979
00:46:18,080 --> 00:46:22,839
Speaker 5: and own the home. How we're how's this country going

980
00:46:22,880 --> 00:46:28,960
Speaker 5: to continue? Like God has a sense of humor. Man, Literally,

981
00:46:29,880 --> 00:46:32,920
Speaker 5: America can only continue to be the superpower of the world.

982
00:46:32,960 --> 00:46:35,520
Speaker 5: There's never been a superpower that wasn't an economic power.

983
00:46:35,600 --> 00:46:38,960
Speaker 5: Think about France, Think about Germany when it was on top,

984
00:46:39,760 --> 00:46:41,799
Speaker 5: Think about Italy Rome when it was on top.

985
00:46:42,080 --> 00:46:43,040
Speaker 1: You can go on and on and on.

986
00:46:43,160 --> 00:46:45,440
Speaker 5: It was never a superpower that wasn't at the same

987
00:46:45,920 --> 00:46:51,399
Speaker 5: time the economic power. What's America today? But we cannot

988
00:46:51,640 --> 00:46:55,600
Speaker 5: continue unless the folks listening to this program and watching

989
00:46:55,600 --> 00:46:58,000
Speaker 5: this video become capitalists.

990
00:46:59,280 --> 00:47:06,480
Speaker 4: Oh there you have it podcast, become become compassionate capitalists.

991
00:47:06,520 --> 00:47:07,799
Speaker 1: Compassionate capitalists.

992
00:47:08,200 --> 00:47:14,440
Speaker 5: I mean, you know, I have a patent copyright that

993
00:47:14,440 --> 00:47:17,960
Speaker 5: I'm trying to get called Black capitalist matter. We talked

994
00:47:17,960 --> 00:47:20,239
Speaker 5: about we talked about Black Lives Matter. I'm I have

995
00:47:20,320 --> 00:47:22,400
Speaker 5: a twist on that Black Capitalist matter. I'm trying to

996
00:47:22,480 --> 00:47:26,799
Speaker 5: make this whole topic sexy in the suites, just like

997
00:47:26,880 --> 00:47:29,160
Speaker 5: we talked about this stuff in the streets. We've got

998
00:47:29,200 --> 00:47:34,520
Speaker 5: to start expanding opportunity for all and start transitioning. I mean,

999
00:47:34,680 --> 00:47:37,400
Speaker 5: this is an intellectual property you guys have here. You

1000
00:47:37,440 --> 00:47:40,120
Speaker 5: have a brand, You have a brand, just has a brand, right,

1001
00:47:40,400 --> 00:47:42,360
Speaker 5: I mean, iHeart has a brand.

1002
00:47:42,719 --> 00:47:44,680
Speaker 1: This, this has a revenue stream. Right.

1003
00:47:45,040 --> 00:47:47,040
Speaker 5: What you do here allows you to go and and

1004
00:47:47,080 --> 00:47:51,240
Speaker 5: go on vacations, and contract with people and whole conference

1005
00:47:51,280 --> 00:47:55,239
Speaker 5: subconferences and pursue your own personal passions, right, some of

1006
00:47:55,280 --> 00:47:57,080
Speaker 5: which works, some of which doesn't. Allows you to give

1007
00:47:57,160 --> 00:48:01,239
Speaker 5: to charity, become philanthropic, and if you're coming from an

1008
00:48:01,320 --> 00:48:05,359
Speaker 5: underserved neighborhood, you're more likely to have compassion and want

1009
00:48:05,400 --> 00:48:08,360
Speaker 5: to give and do something for those neighborhoods. I said,

1010
00:48:08,800 --> 00:48:12,040
Speaker 5: I'm sure this will be controversial, I said. When I

1011
00:48:12,120 --> 00:48:14,520
Speaker 5: was an advisor for President Obama at this time, I

1012
00:48:14,560 --> 00:48:17,480
Speaker 5: wrote a piece said that there was more important to

1013
00:48:17,640 --> 00:48:21,920
Speaker 5: have a black Bill Gates and a black president. And

1014
00:48:21,960 --> 00:48:25,160
Speaker 5: I meant it because the era of politics was the

1015
00:48:25,160 --> 00:48:28,560
Speaker 5: twentieth century. The air of capitalism is the twenty first century.

1016
00:48:28,960 --> 00:48:31,840
Speaker 5: The world's moved on is not about In fact, government

1017
00:48:31,840 --> 00:48:35,520
Speaker 5: can't do anything without the revenue from the capitalists. If

1018
00:48:35,560 --> 00:48:38,040
Speaker 5: you had a black Bill Gates that people could emulate. Okay,

1019
00:48:38,040 --> 00:48:41,000
Speaker 5: wait a minute, this dude is a one hundred billionaire.

1020
00:48:41,239 --> 00:48:46,520
Speaker 5: He's created, you know, one hundred thousand multimillionaires. And now

1021
00:48:46,560 --> 00:48:50,760
Speaker 5: you've got you know, two hundred thousand people making six figures,

1022
00:48:51,239 --> 00:48:54,200
Speaker 5: and all those people are giving money their church, their nonprofits,

1023
00:48:54,280 --> 00:48:56,400
Speaker 5: that's in their kids a college. The ripple effect of

1024
00:48:56,400 --> 00:48:59,239
Speaker 5: all that, and then they're role modeling. Then they go

1025
00:48:59,440 --> 00:49:01,520
Speaker 5: they go off as start a business and buy a business.

1026
00:49:01,560 --> 00:49:03,880
Speaker 5: And now that you had a whole new mindset of

1027
00:49:03,920 --> 00:49:05,800
Speaker 5: who you can be. You cannot have everybody trying to

1028
00:49:05,840 --> 00:49:10,239
Speaker 5: be Ti or jay Z or Beyonce. It's not scalable.

1029
00:49:10,640 --> 00:49:13,840
Speaker 5: Everybody can't be Oprah. Literally, that's a person with thirty

1030
00:49:13,840 --> 00:49:17,480
Speaker 5: employees maximum. God bless what they're doing. You had forty

1031
00:49:17,520 --> 00:49:21,279
Speaker 5: million black people, you know, probably the same amount of Latinos.

1032
00:49:21,480 --> 00:49:26,920
Speaker 5: We need engineers, we need mathematicians, we need computer scientists.

1033
00:49:26,960 --> 00:49:30,560
Speaker 5: We need stuff that's scalable and lasts over time. So

1034
00:49:30,760 --> 00:49:34,360
Speaker 5: it's a complete mind shift, right. We need to We

1035
00:49:34,400 --> 00:49:37,800
Speaker 5: need a business plan. We are the business plan for America.

1036
00:49:37,840 --> 00:49:41,760
Speaker 4: The future of America depends on diversity.

1037
00:49:40,680 --> 00:49:44,760
Speaker 5: Quite literally, And I'm not making them. I'm not trying

1038
00:49:44,760 --> 00:49:47,279
Speaker 5: to pick a fight. I'm not trying to I'm not

1039
00:49:47,280 --> 00:49:49,840
Speaker 5: getting emotion. I'm passionate. I'm not getting a motion. This

1040
00:49:49,880 --> 00:49:51,440
Speaker 5: is to me is just math. That's what I love

1041
00:49:51,440 --> 00:49:56,440
Speaker 5: about this. It's the math is undeniable. It's not even closed.

1042
00:49:56,719 --> 00:49:59,680
Speaker 4: There's not enough college educated.

1043
00:49:59,320 --> 00:50:03,120
Speaker 5: Oh yeah, not enough college educated successful white men the

1044
00:50:03,239 --> 00:50:06,960
Speaker 5: drive GDP gross domestic product for the next thirty years.

1045
00:50:07,000 --> 00:50:10,399
Speaker 5: I'll say it again, this is not in any way

1046
00:50:10,400 --> 00:50:13,000
Speaker 5: anybody want to listen to this and take a little

1047
00:50:13,080 --> 00:50:14,600
Speaker 5: piece of this and take it out and try to

1048
00:50:14,640 --> 00:50:18,040
Speaker 5: manipulate my words and say that John Brian is race baiting.

1049
00:50:18,040 --> 00:50:21,080
Speaker 5: I'm gonna say it again, slowly. This is not racial.

1050
00:50:21,400 --> 00:50:25,920
Speaker 5: It's math. There are not enough college educated, successful white

1051
00:50:26,040 --> 00:50:30,000
Speaker 5: men to drive gross domestic product for the largest economy

1052
00:50:30,000 --> 00:50:32,920
Speaker 5: in the world for the next thirty years. That's never

1053
00:50:32,960 --> 00:50:36,840
Speaker 5: happened in the history of the world. Never In nineteen

1054
00:50:36,920 --> 00:50:39,720
Speaker 5: fifty two, you could ignore black people, you could ignore Latinos,

1055
00:50:39,760 --> 00:50:42,799
Speaker 5: you couldnorm Native American Indians could you could ignore rich

1056
00:50:42,840 --> 00:50:45,640
Speaker 5: white people, could ignore poor white people. What are poor

1057
00:50:45,680 --> 00:50:49,000
Speaker 5: white people doing now riding at the ballot box? Think

1058
00:50:49,000 --> 00:50:52,480
Speaker 5: about it. That's what's happening. It's never happened in the history,

1059
00:50:52,600 --> 00:50:53,880
Speaker 5: the modern history of this country.

1060
00:50:53,960 --> 00:50:55,439
Speaker 4: So when you say God has a sense of humor,

1061
00:50:55,480 --> 00:51:00,360
Speaker 4: it is simply because the institutional racism of this country

1062
00:51:00,440 --> 00:51:02,240
Speaker 4: will ultimately cannibalize this country.

1063
00:51:02,640 --> 00:51:06,560
Speaker 5: Yes, and I think that COVID was a Noah's Ark moment.

1064
00:51:07,760 --> 00:51:09,920
Speaker 5: I think that we were we were heading down a path.

1065
00:51:10,000 --> 00:51:12,720
Speaker 5: We had a guy, we had his president, who, based

1066
00:51:12,719 --> 00:51:15,000
Speaker 5: on the economy of twenty nineteen, would have got reelected

1067
00:51:15,560 --> 00:51:18,320
Speaker 5: because we most people vote their pocketbooks. That would have

1068
00:51:18,360 --> 00:51:22,719
Speaker 5: been disastrous for democracy. I think God's like, you know what,

1069
00:51:22,880 --> 00:51:25,080
Speaker 5: I give you guys, free will. But every now and

1070
00:51:25,080 --> 00:51:30,120
Speaker 5: then I got an intervene. And within a year, looking

1071
00:51:30,120 --> 00:51:32,040
Speaker 5: about this, when a year you had, you had COVID

1072
00:51:32,120 --> 00:51:35,319
Speaker 5: that shut down. We haven't been shut down for two weeks.

1073
00:51:35,719 --> 00:51:38,920
Speaker 5: We were shut down for two years. You could look

1074
00:51:38,960 --> 00:51:43,760
Speaker 5: down the street and there was literally nobody there. COVID

1075
00:51:44,920 --> 00:51:48,759
Speaker 5: George Floyd. Now, wait a minute. Everybody was watching it,

1076
00:51:50,000 --> 00:51:53,879
Speaker 5: rich and poor, black and white, conservative and liberal. Why

1077
00:51:54,000 --> 00:51:56,000
Speaker 5: we watch it? Because COVID had us at home looking

1078
00:51:56,080 --> 00:51:58,319
Speaker 5: at the news. If it wasn't for COVID, it'd be like,

1079
00:51:58,560 --> 00:52:02,040
Speaker 5: come home, baby, what's going on? A horrible shooting in Minneapolis?

1080
00:52:02,040 --> 00:52:03,680
Speaker 5: Did you see it? I didn't see it. What Time's dinner?

1081
00:52:03,880 --> 00:52:06,360
Speaker 5: On to something else? But everybody was watching it. That

1082
00:52:06,400 --> 00:52:10,920
Speaker 5: then created a social justice reckoning of black America. Sixty

1083
00:52:10,920 --> 00:52:12,880
Speaker 5: three billion to a three hundred billion, depending on how you

1084
00:52:12,920 --> 00:52:15,239
Speaker 5: look at the numbers funded by the private sector, right,

1085
00:52:15,320 --> 00:52:18,000
Speaker 5: which where DEI and all this stuff came from. We

1086
00:52:18,040 --> 00:52:20,920
Speaker 5: haven't seen that in fourty years. Then that led to

1087
00:52:20,960 --> 00:52:24,040
Speaker 5: the January sixth. We haven't seen that since the British

1088
00:52:24,160 --> 00:52:27,399
Speaker 5: attacked the Capitol, which has us all things about our

1089
00:52:27,480 --> 00:52:30,200
Speaker 5: role in democracy. Then you had as a follow on that,

1090
00:52:30,320 --> 00:52:32,600
Speaker 5: you had this row versus way. Now white women are

1091
00:52:32,600 --> 00:52:36,919
Speaker 5: pissed off. Everybody's now re engaged in democracy, whether whether

1092
00:52:36,960 --> 00:52:38,640
Speaker 5: you like it or not. The only thing I give

1093
00:52:38,719 --> 00:52:41,760
Speaker 5: is former president credit for is he's got everybody focused

1094
00:52:41,800 --> 00:52:47,440
Speaker 5: on democracy because before that nobody voted. So this year

1095
00:52:47,480 --> 00:52:50,600
Speaker 5: is a colonic. This year is one huge colonic, Like

1096
00:52:50,640 --> 00:52:53,200
Speaker 5: we're just flushing everything out, trying to figure out who

1097
00:52:53,239 --> 00:52:54,960
Speaker 5: we're going to be when we grow up and if

1098
00:52:54,960 --> 00:52:57,440
Speaker 5: we want to be the continue to be the superpower

1099
00:52:57,440 --> 00:52:59,040
Speaker 5: in the world. We got to grow up and we

1100
00:52:59,120 --> 00:53:03,040
Speaker 5: got to realize better together. And this is again, this

1101
00:53:03,120 --> 00:53:05,319
Speaker 5: is got to me. This is God saying you want

1102
00:53:05,320 --> 00:53:07,960
Speaker 5: to play a role in history. You want to be relevant,

1103
00:53:08,360 --> 00:53:09,920
Speaker 5: you want to be important, you want to know the

1104
00:53:09,920 --> 00:53:13,360
Speaker 5: world knew you were here. Here's your time. Everybody listening

1105
00:53:13,400 --> 00:53:17,200
Speaker 5: to this has a role to play. This is the

1106
00:53:17,200 --> 00:53:21,560
Speaker 5: third reconstruction in my opinion, and it's and it's about

1107
00:53:21,560 --> 00:53:23,000
Speaker 5: the green listen.

1108
00:53:23,040 --> 00:53:25,279
Speaker 4: If y'all want more of this great information, man, go

1109
00:53:25,320 --> 00:53:29,400
Speaker 4: get John hopbrien's new book, Financial Literacy for All, Disrupting Struggle,

1110
00:53:29,640 --> 00:53:33,080
Speaker 4: advancing financial freedom, and building a New American middle Class.

1111
00:53:33,160 --> 00:53:37,840
Speaker 4: And you can subscribe to John ho'brien's pop podcast, Money

1112
00:53:37,880 --> 00:53:40,839
Speaker 4: and Wealth with John Hopebrian on The Black Effect. iHeartRadio

1113
00:53:40,920 --> 00:53:44,239
Speaker 4: podcast network. John is also it's a privilege to have

1114
00:53:44,320 --> 00:53:46,359
Speaker 4: him on the board of The Black Effect as well.

1115
00:53:47,480 --> 00:53:50,280
Speaker 5: I'm deeply honored by that. And I and I really Dolly,

1116
00:53:50,320 --> 00:53:52,200
Speaker 5: I'm so sorry I should have been talking about my

1117
00:53:52,280 --> 00:53:55,319
Speaker 5: podcast and I love my I love my podcast on

1118
00:53:55,360 --> 00:53:58,000
Speaker 5: your platform. We this is my chance to have a

1119
00:53:58,040 --> 00:54:00,440
Speaker 5: ministry of hope. This is my this is my ministry

1120
00:54:00,440 --> 00:54:03,640
Speaker 5: of finance. Once a week on Thursdays. To make this

1121
00:54:03,800 --> 00:54:08,320
Speaker 5: really approachable, like break it down, tell people how stuff works.

1122
00:54:08,400 --> 00:54:12,759
Speaker 5: Once a week, calmly, simply take one topic. I mean, well,

1123
00:54:12,760 --> 00:54:15,680
Speaker 5: we talked about the day this this interview is probably

1124
00:54:15,719 --> 00:54:18,440
Speaker 5: thirty different topics, right, and a lot of people went

1125
00:54:18,440 --> 00:54:21,279
Speaker 5: over their heads. They gotta do it on replay, right.

1126
00:54:21,400 --> 00:54:23,440
Speaker 5: I have a million viewers a week on my videos

1127
00:54:23,440 --> 00:54:25,200
Speaker 5: and people, most of them are just watching it over

1128
00:54:25,239 --> 00:54:29,399
Speaker 5: and over again. People are shamed to admit they don't

1129
00:54:29,440 --> 00:54:32,880
Speaker 5: understand money. They're shamed to understand that they don't. They

1130
00:54:32,880 --> 00:54:35,240
Speaker 5: don't people. I've had adults tell me like, what's a stock?

1131
00:54:36,280 --> 00:54:39,360
Speaker 5: What's equity? They're shamed. They don't know what fdi C

1132
00:54:39,560 --> 00:54:42,719
Speaker 5: means Federal Deposit Insurance Corporation. They don't know what SEC means,

1133
00:54:42,760 --> 00:54:46,359
Speaker 5: security is exchanged, and no one taught them. And now

1134
00:54:46,360 --> 00:54:49,080
Speaker 5: we feel dumb. We are not dumb. If you're making

1135
00:54:49,120 --> 00:54:52,080
Speaker 5: it in America, you are a genius. And now through

1136
00:54:52,080 --> 00:54:55,920
Speaker 5: this Money and Wealth podcast, you can you know, have

1137
00:54:56,000 --> 00:54:57,920
Speaker 5: your own university in your pocket. I want to have

1138
00:54:58,160 --> 00:55:00,840
Speaker 5: fifty two episodes that you can give to your daughter,

1139
00:55:00,920 --> 00:55:03,279
Speaker 5: give to your child, get somebody getting married, give to

1140
00:55:03,320 --> 00:55:05,520
Speaker 5: that new parent, that new couple who's about to buy

1141
00:55:05,520 --> 00:55:09,280
Speaker 5: a home. Right, just look, just listen to this. Just listen,

1142
00:55:09,400 --> 00:55:12,839
Speaker 5: you know, in your car, and make sure you are

1143
00:55:12,880 --> 00:55:15,880
Speaker 5: building a legacy in a life and not just a

1144
00:55:15,920 --> 00:55:23,000
Speaker 5: bunch of generational debt. Marriage came from business. It was

1145
00:55:23,040 --> 00:55:27,880
Speaker 5: not a romantic concept marriage came from families trying to

1146
00:55:27,880 --> 00:55:31,840
Speaker 5: figure out how to join their economic interests. The couples

1147
00:55:31,960 --> 00:55:35,480
Speaker 5: even lived together, they lived in different castles, different rooms. Right,

1148
00:55:35,800 --> 00:55:39,200
Speaker 5: we've made this all about romance. Right, And when you

1149
00:55:39,200 --> 00:55:41,640
Speaker 5: so you people me and a marriage, girls from strip

1150
00:55:41,719 --> 00:55:42,520
Speaker 5: clubs and don't.

1151
00:55:42,320 --> 00:55:43,000
Speaker 1: Know nothing about them.

1152
00:55:43,200 --> 00:55:45,880
Speaker 5: And she might be beautiful, but you might want to

1153
00:55:45,880 --> 00:55:49,279
Speaker 5: know something other than whether she's cute. When you got

1154
00:55:49,280 --> 00:55:51,840
Speaker 5: here's my drop the mic for this. When folks go

1155
00:55:51,920 --> 00:55:56,520
Speaker 5: to the club this weekend and you see somebody who's fine,

1156
00:55:56,800 --> 00:55:59,480
Speaker 5: brothers and girls, you see a dude who's handsome, get

1157
00:55:59,520 --> 00:56:03,200
Speaker 5: the name, get the number, and at some point say

1158
00:56:03,239 --> 00:56:04,080
Speaker 5: what's your credit score?

1159
00:56:06,560 --> 00:56:08,240
Speaker 1: And I'm only partially kidding.

1160
00:56:10,040 --> 00:56:10,880
Speaker 3: Ladies and gentlemen.

1161
00:56:10,960 --> 00:56:13,800
Speaker 4: John O'Brien brien follow him on Instagram, tour is on

1162
00:56:13,880 --> 00:56:14,280
Speaker 4: the Gram.

1163
00:56:14,360 --> 00:56:15,919
Speaker 1: It's John O'Brien everywhere.

1164
00:56:15,560 --> 00:56:16,800
Speaker 4: At John O'Brien everywhere.

1165
00:56:16,800 --> 00:56:16,960
Speaker 1: Man.

1166
00:56:16,960 --> 00:56:18,960
Speaker 4: Make sure you download the Money and Wealth podcast on

1167
00:56:18,960 --> 00:56:21,560
Speaker 4: the Black Effect I Heeart Radio podcast network. Get Financial

1168
00:56:21,560 --> 00:56:23,680
Speaker 4: Literacy for all. This is who we should be listening

1169
00:56:23,719 --> 00:56:28,279
Speaker 4: to in regard as the financial literacy man. John Hope Brian.

1170
00:56:28,120 --> 00:56:30,280
Speaker 3: That's right, it's the Breakfast Club, Good morning.

1171
00:56:30,680 --> 00:56:33,920
Speaker 1: Wake that ass up in the morning. The Breakfast Club