Speaker 1: Wake that ass up in the morning.
Speaker 2: The Breakfast Club Morning.
Speaker 3: Everybody is the j Envy, Jess Hilarious, Charlamagne the God.
Speaker 3: We are the Breakfast Club. We got a special guest
Speaker 3: in the building. Yes, indeed we have John Hopebrian. Welcome back, brother,
Speaker 3: be here.
Speaker 2: How you feeling bless if John O'Brien is it? I
Speaker 2: mean that there's some good things.
Speaker 4: Going on in the world.
Speaker 2: First of all, you came gifts or bad. But at
Speaker 2: least the things that are bad you can explain, especially
Speaker 2: when it comes to some financial stuff.
Speaker 1: Rainbows only follow storms. You cannot have a rainbow without
Speaker 1: a storm. First scientific fact.
Speaker 3: Actually, let's let's jump right into that. I was actually
Speaker 3: thinking about you the other day. Shout out any socks
Speaker 3: for us to socks.
Speaker 1: Yeah, you brought some gifts, so Walmart made these for us.
Speaker 1: This is Green Socks Day. You can go online and
Speaker 1: get them. They're April thirtieth. We've got the NBA, NFL,
Speaker 1: thank you, Roger Goodell, and NASCAR, hockey, Major League Baseball,
Speaker 1: major League soccer. I think that's all of them. We
Speaker 1: have all of them. It's never happened before. All the
Speaker 1: sports leagues are behind green socks. Day. So I'm asking
Speaker 1: everybody to put a sock on and talk about financial literacy.
Speaker 1: On April thirtieth, do something on financial literacy. Tag Green
Speaker 1: Socks Day on your social media, Highlight a post, and
Speaker 1: Nasdaq is going to feature the best posts on this
Speaker 1: big board here in New York on April thirtieth. In
Speaker 1: the ten top posts, We're going to fly him to
Speaker 1: New York City. Let them ring the bell. The New
Speaker 1: York stock has changed. So this is the way. You know,
Speaker 1: people are arguing over black and white, red and blue.
Speaker 1: Can we just agree on some green.
Speaker 2: That's why the socks are green.
Speaker 1: That's why, Yes, we want the whole country to come
Speaker 1: together on April thirtieth, and this is Financial Literacy Month.
Speaker 1: By the way I.
Speaker 3: Was saying, I was thinking about just speaking of the country.
Speaker 3: With all the tariffs that that Trump is putting on
Speaker 3: the country, right, and you know people are looking to
Speaker 3: purchase their force homes all, what what would.
Speaker 4: You advise people to do?
Speaker 3: Right, Because they're saying with the tariffs, they're saying the
Speaker 3: price of materials are going to go up in price.
Speaker 3: They're saying the price of cars and the parts are
Speaker 3: gonna be shooting up what would you advise people to
Speaker 3: do if they're looking for home ownership at this this
Speaker 3: this point in their life, This is.
Speaker 1: Gonna seem schizophrenic in my advice. I'm telling you in advance,
Speaker 1: ignore the noise. First of all, this is just noise,
Speaker 1: Just like DEI was a distraction, Like why are we
Speaker 1: are getting overdi? Were fifth on the list? Why are
Speaker 1: we the poster child for TI? Right? But they wanted
Speaker 1: us to be the poster child Somebody did. Somebody wanted
Speaker 1: black people to be because that triggers ratio overtones and
Speaker 1: all that other kind of stuff. That wasn't even our fight.
Speaker 1: This is not our fight. This is somebody else's problem
Speaker 1: at the moment. This is like hitting if you want
Speaker 1: to get in a fight. It's like hitting your face
Speaker 1: on my fist if you want to fight. That's what
Speaker 1: this is. This country is seventy percent consumer spending. Sorry,
Speaker 1: the biggest acoutonomy on the planet America. We're twenty five
Speaker 1: percent of the global economy. We're forty percent of global
Speaker 1: wealth in the world. We're big ballists. Out of eight
Speaker 1: billion people, it's only three to fifty million people, but
Speaker 1: we lead the whole world. But seventy percent of economy.
Speaker 1: It's not rich people, it's not big business. It's you
Speaker 1: and me paying for car notes and mortgages and going
Speaker 1: to get some coffee which didn't work outside. You know,
Speaker 1: it's little stuff. It was a car service that brought
Speaker 1: me here. It's a breakfast that we had this morning.
Speaker 1: So this economy can't succeed without us succeeding, first of all.
Speaker 1: So this party ultimately will pivot back to what's going
Speaker 1: to drive the economy. Because this is a capitalist democracy,
Speaker 1: big C, little D it's a free enterprise democracy. So
Speaker 1: I tell people ignore the noise this stuff. If it's
Speaker 1: not working, Washington's gonna have to pivot. There's a strategy
Speaker 1: in Washington. I was at the Secretary of the Treasury
Speaker 1: a couple days ago, who I actually like. I think
Speaker 1: he's actually a decent guy.
Speaker 2: Please break that down because I need to know what
Speaker 2: the strategy. I don't understand it.
Speaker 1: Well, no, no, I didn't say understood it. You're gone
Speaker 1: too far. I said, Well, then, first of all, I said,
Speaker 1: I like him, and he and I got to work
Speaker 1: together on financial literacy. We don't you know, we're not
Speaker 1: gonna agree on everything. I was with him for an hour.
Speaker 1: I didn't break I didn't address this issue because his
Speaker 1: boss has already made up his mind, and I know
Speaker 1: I didn't want to put him in an uncomfortable situation
Speaker 1: and ask him questions that he can't answer. Uh, this
Speaker 1: has to play itself out. I mean, the country is
Speaker 1: having one big colonic right dawn. So it's gonna take
Speaker 1: as long as it will take. I don't think it's
Speaker 1: gonna take very long. You're not talked about this, and
Speaker 1: either he's writer or he's not. The only way terroifts work,
Speaker 1: and I could break down what a tariff is, by
Speaker 1: the way, most peoplen't understand it. The only way a
Speaker 1: tariff works is if it's short term and it's tied
Speaker 1: to you negotiating something from whoever you're trying to extract
Speaker 1: something from another country. If it's your long term strategy
Speaker 1: in a country that is consumer spending, it's a disaster
Speaker 1: because it's a tax on you and me. I'm getting
Speaker 1: ahead of myself.
Speaker 2: Let me move the tariff.
Speaker 4: For first of all, you ask you this question of yours,
Speaker 4: you do the tariffs. So because that goes into this is.
Speaker 1: Really important for your audience. I mean, because people run
Speaker 1: through these titles. And I did. I did a podcast
Speaker 1: on money and wealth last week. You went to the
Speaker 1: roof just explaining like normal terms that people recession and
Speaker 1: tariff and inflation. Nobody people assumeing people know this stuff.
Speaker 1: Who's teaching anybody financial literacy? You're not dumb and you're
Speaker 1: not stupid. Is what you don't know that you don't
Speaker 1: know is killing you. But you think you know. A
Speaker 1: tariff And as simple as I can describe, it is
Speaker 1: a tax on American businesses and American consumers. So this
Speaker 1: concept of I'm gonna you hit me. You're a China,
Speaker 1: you're by the way, Russia didn't get a terror interesting, Uh,
Speaker 1: your Russia, you're wherever India you hit me, I'm gonna
Speaker 1: hit you back. No, A tariff might because the cost
Speaker 1: of the thing has gone up. Might mean we find
Speaker 1: Chinese goods less attractive, we find Indian goods less attractive
Speaker 1: because what costs a dollar now costs a dollar eighty.
Speaker 1: So maybe we say I don't want any more of that.
Speaker 1: But the importer of the thing pays the pays the
Speaker 1: tach is hard to get a straight face. The import
Speaker 1: the American business pays the tax at the duty station,
Speaker 1: and what is that importer going to do. What is
Speaker 1: a big company going to do when they get hit
Speaker 1: with higher prices that there's no fault of their own.
Speaker 2: They increase.
Speaker 1: It's common sense. This is a radical movement of common sense.
Speaker 1: They pass that on to you and me, So our
Speaker 1: prices of everything is going to go up unless in
Speaker 1: a month he changes his mind again, which he's apt
Speaker 1: to do and says I was just kidding. Now, let
Speaker 1: me go one step further and tell you how this
Speaker 1: the only way this could have worked. If he's saying
Speaker 1: he wants to promote domestic production, he wants to bring
Speaker 1: everything back home. Fair argument. Although American American American manufacturer
Speaker 1: very good, American as a Mattriss manufacturing hub of old
Speaker 1: school manufacturing ended in the nineteen seventies. That's why there's
Speaker 1: more poor whites in America than poor anybody else, because
Speaker 1: they had a high school education, hustle, and the jobs
Speaker 1: that they were doing walked away. In nineteen forty nineteen fifty,
Speaker 1: Detroit was the richest city in the world for automotive
Speaker 1: in the world, richer than prayers, richer than their release.
Speaker 1: That was one of the poorest because the business plan
Speaker 1: from manufacturing walked away from America. It went to places
Speaker 1: that were cheaper. Now we can be American. We can
Speaker 1: be a manufacturing center today, but it's gonna be high
Speaker 1: tech manufacturing. It's gonna be artificial and tight legends and robotics,
Speaker 1: which you need education for. Back to the story. The
Speaker 1: only way this would have worked is if the president said,
Speaker 1: you know, a year before elected, get all the bankers together,
Speaker 1: get all the fortune five hundred companies together, and look
Speaker 1: you good, I'm gonna be president of the year. Just
Speaker 1: believe me. What I need you to do. Go to
Speaker 1: your boards, Go to your governance committees at the boards,
Speaker 1: Go to your bankers who allocate capital. Go to Wall Street,
Speaker 1: tell them I'm coming and tell them to put capital
Speaker 1: aside for manufacturing at home. Also, because I'm gonna have Terrace. Also,
Speaker 1: I need you to go to Stanton Island. I need
Speaker 1: you to go to little towns in Cleveland. I need
Speaker 1: you to go to Detroit, whatever and cut deals for land.
Speaker 1: I'm just breaking this downright, and and get the cities
Speaker 1: to support you and we By the way, you're gonna
Speaker 1: need you get ai. You're gonna need a bunch of
Speaker 1: energy to fuel these AI factors. You need to get
Speaker 1: some uh you know, electricity and water, things generated. But
Speaker 1: I need to get I'm gonna give you a year
Speaker 1: because it's gonna be tens of billions of dollars in investment.
Speaker 1: And know that I'm committed to this my whole presidency.
Speaker 1: This is a new America. And the CEOs go, okay,
Speaker 1: we're with you. We want to bring this back. And
Speaker 1: by the way, what's what's what's in it for us?
Speaker 1: And he has these economic mo shows blah blah blah
Speaker 1: period of time, this is gonna be short term pain,
Speaker 1: long term game. Okay, none of that happened, so there's
Speaker 1: no way. I'm just look, I'm not four against. I'm
Speaker 1: just saying I like math. It doesn't have an opinion.
Speaker 1: I'm just saying. Stevie, my friend Stevie Wanner can see this.
Speaker 1: None of this is going to work long term because
Speaker 1: there is no planning.
Speaker 3: So you think, do you think this is a ploy
Speaker 3: for Trump to get what he wants? You think it's
Speaker 3: a short term play and not a long term play
Speaker 3: when it comes to the stats.
Speaker 1: I didn't say I understood it. I said I was
Speaker 1: gonna explain it. Look, he's been talking about Terra since
Speaker 1: nineteen eighty night go to interviews of him from nineteen eighties.
Speaker 1: He's obsessed with it. I have no idea where he
Speaker 1: got this from. It's like new math. My calculator works
Speaker 1: pretty well. Unless he is the most intelligent being on
Speaker 1: the planet, unless he has a whole new way of
Speaker 1: viewing economics. I just don't understand it. I'm pretty good
Speaker 1: at it. I just don't understand. That's why the markets
Speaker 1: are in the tank. That's why you know, CEOs are
Speaker 1: scratching their head. But no one wants to say anything
Speaker 1: because you don't want to get on his bad side. Look,
Speaker 1: I want him to win. I'll say it. He's my president.
Speaker 1: Whatever the election is over, he's my president. I want
Speaker 1: him to win because if he wins, if he loses.
Speaker 1: So this, you know, trying to wish him well and
Speaker 1: going to Louisiana hitting getting little the little dolls that
Speaker 1: time kind of stuff. No, No, pray, pray for your president,
Speaker 1: pray for your country. We're all in this thing together.
Speaker 1: Like real talk. But and here's my way of thinking.
Speaker 1: Talk without being offensive, Listen without being defensive, and always
Speaker 1: leave even your adversary with their dignity, because if you don't,
Speaker 1: they'll spend the rest of their life working to make
Speaker 1: you miserable. It becomes personal. You got a step over
Speaker 1: mess and not in it. He is the President of
Speaker 1: the United States of America. He's as you can see
Speaker 1: from the executive orders, he's incredibly powerful. He's not a king,
Speaker 1: but he has incredible power. And we're going to see
Speaker 1: that some of the stuff he's doing as a bridge
Speaker 1: too far. It's gonna get reversed. But he has incredible
Speaker 1: power with the pen. So we need to walk delicately here.
Speaker 1: It's an interesting relationship. I was in a relationship years
Speaker 1: and years ago, luckily a wonderful wife JJ. When I
Speaker 1: was a kid, I was in a relationship with somebody
Speaker 1: who was emotionally immature, which he didn't say much for me.
Speaker 1: I picked her, but it was like an emotional Hangarnad.
Speaker 1: But I was already in it, and I had to
Speaker 1: really be careful. I put that hand Gernad back down
Speaker 1: on the ground so it didn't explode and tear me up.
Speaker 1: This is where we are. We have to be very
Speaker 1: delicate about this situation, and we have to find some
Speaker 1: way to help him feel like he won, like I
Speaker 1: don't know what it is, but whatever in the next
Speaker 1: thirty days, next forty five days. This is not sustainable.
Speaker 1: We got to give him some out the country of
Speaker 1: other leaders where he feels, yeah, my terror strategy won.
Speaker 1: Otherwise this economy will slow and your prices will go up.
Speaker 1: You already had inflation from the let's clear something else,
Speaker 1: though it's too late for this. Biden created inflation ridiculously
Speaker 1: completely wrong. In fact, it was Trump then the Republican
Speaker 1: Democrat Congress and Biden. Everybody passed five six trillion dollars
Speaker 1: worth of stimulus during the pandemic, so the economy didn't
Speaker 1: stall because economy was going to stall when everybody was
Speaker 1: in their houses. Because this consumer driven economy and that
Speaker 1: plus the Federal Reserve, there's about six seven trillion dollars
Speaker 1: actually more like nine to win the economy. That's where
Speaker 1: the inflation came from. When you have an imbalance of
Speaker 1: supply and demand, so you have too much supply money
Speaker 1: the nine of the band, it inflates the cost of
Speaker 1: things to.
Speaker 2: All the stimulus checks in the PvP loans. Everybody loved
Speaker 2: that part, that.
Speaker 1: Part and it ain't going away, And I said, ain't
Speaker 1: on purpose, because there's never been in the history DJ
Speaker 1: in the history of the world, there's never been a
Speaker 1: trillion dollars of stimulus by any government at any time ever.
Speaker 1: And we did nine trillion. Let that sink in. So
Speaker 1: how do you think how long you are you gonnaink
Speaker 1: it's gonna take for that to work through your transmission system.
Speaker 1: So of course we're lucky we don't have twelve percent
Speaker 1: on inflation. We're lucky we don't have eighteen percent unemployment.
Speaker 1: Like what Biden should have done, he should have come
Speaker 1: in and said, I'm gonna be present for four years.
Speaker 1: I'm your dude, I'm gonna stabilize everything, I'm gonna drop
Speaker 1: the mic, I'm a bounce. I'm only here for four years.
Speaker 1: That's what he should have done. He should have said
Speaker 1: that up front and been done with his legacy. Would
Speaker 1: have been fantastic. But you get in that office. I've
Speaker 1: been an advisory for three US presidents. That's intoxicated. That power.
Speaker 1: That power is intoxicate. You don't want to leave.
Speaker 4: Really, ask you a question, do you think the government
Speaker 4: will so?
Speaker 1: Yes, you should buy a house. By the way, people
Speaker 1: don't change your game, don't change your plan, change your mind.
Speaker 1: This is this noise is going to ultimately go away.
Speaker 1: Three things have never gone down the history of America
Speaker 1: GDP Gross Domestic product, real estate's values, and stock market values.
Speaker 1: They've gone up. There's a recession, it corrects above the line.
Speaker 1: After the recession, it recedes. Recessions, recedes, and then corrects
Speaker 1: above the line. Every time somebody might makes an emotional decision,
Speaker 1: it's a bad one. Poor people sell in bad times.
Speaker 1: What did Warren Buffett say? When people are afraid, be greedy?
Speaker 1: When people are greedy, be afraid. Okay, you're about to say.
Speaker 4: Something I was going to ask you.
Speaker 3: I was going to say, you know, with that that
Speaker 3: type of thinking, the prices of everything are going to
Speaker 3: go up, right in the next couple of months.
Speaker 4: We assume right, build and costs are expensive.
Speaker 1: Interest rates might come down, by the way, metals and
Speaker 1: all that. Right, you said, what about intro r They
Speaker 1: might come down and inter.
Speaker 4: Come on the same thing would cost which the pres
Speaker 4: it is banking on. By the way, So if.
Speaker 3: Somebody these houses and these properties, or they buy these cars,
Speaker 3: and they boy these materials, and the prices are up
Speaker 3: when this game that we're thinking that he's playing, which
Speaker 3: is a short term game, changes back in a couple
Speaker 3: of months and he takes these towers offs, and now
Speaker 3: those goods are less money you bought when it was high.
Speaker 3: Does that hurt help effect? Well, you're assuming the goods
Speaker 3: are going to come back down in price.
Speaker 4: If the tower's come off, shouldn't.
Speaker 1: You're assuming that the price is going to back down.
Speaker 1: Greed is an interesting thing. You know. There were during
Speaker 1: the pandemic there were container companies, the ones who put
Speaker 1: the stuff on ships, because we're all run through international trade.
Speaker 1: By the way, twenty five percent of the US economy
Speaker 1: is international trade. So there was container companies who were
Speaker 1: found to be gorging, gouging prices for no good reason.
Speaker 1: The prices had, Yeah, temporarily there was not enough of them,
Speaker 1: and the prices went up. But then when they kept
Speaker 1: the prices high big because it was you know, layering
Speaker 1: their pockets. So and Bash or Andrew Jung says that
Speaker 1: men and women fail for three reasons arrogance, pride, and greed.
Speaker 1: And greed is the oldest thing on the book. The
Speaker 1: only time Jesus Christ they ever got upset was when
Speaker 1: he turned the table over the money changers in the temple.
Speaker 1: That's the only time you get upset. So I think
Speaker 1: that because we're the biggest economy in the world, because
Speaker 1: it's consumer spending, because capitalists ultimately want to win, prices
Speaker 1: will come down to meet the demand of the consumer.
Speaker 1: But it's not going to be like flipping a switch
Speaker 1: and with somebody in somebody in Washington things. In my
Speaker 1: opinion that if you trigger a mild recession, this is
Speaker 1: I don't agree with this. You trigger a mi out recession,
Speaker 1: you can blame it on the other guy. I don't
Speaker 1: agree with that either. I hope this is translating to
Speaker 1: your audience when I say the other guy. You blame
Speaker 1: it on the other guy, not the current president. You
Speaker 1: then get the FED the lower interest rates, which by
Speaker 1: the way, helps wealthy people like me but doesn't help
Speaker 1: the average every day, and then the economy's booms and
Speaker 1: you're golden for midterm elections. Some people believe that. I
Speaker 1: just I just don't think that that's rational, and I
Speaker 1: think the timing is gonna be all messed up. Even
Speaker 1: if that did work, I don't think it's gonna work.
Speaker 1: Here's the problem the White House. I've known none US presidents.
Speaker 1: I've known twelve. I've worked with twelve Secretaries of the Treasury.
Speaker 1: I've been an advisor for three US presidents both parties.
Speaker 1: Have been honored by five from both parties. I've never
Speaker 1: seen a White House where nine nine percent of people
Speaker 1: are either sent to millionaires or billionaires the advisors. Now again,
Speaker 1: I'm very wealthy, but I go to the hood once
Speaker 1: a month. Yeah, intentionally. I tell my driver wherever I'm at,
Speaker 1: take me, take me to wherever the hood is, and
Speaker 1: they are all freaked out. I want to see it.
Speaker 1: I want to see how we're living. I want to
Speaker 1: see those check cashes and pay day long liverers. I
Speaker 1: want to go get out and go into a grocery
Speaker 1: store or convenienced. I want to listen what's up. I
Speaker 1: want to listen to the I want to get in
Speaker 1: then uber driver, you know, I want to get in
Speaker 1: the taxi.
Speaker 2: You want to talk to the people when people talk
Speaker 2: about but never talk to that's right.
Speaker 1: So if you are a cented millionaire one hundred million,
Speaker 1: if you're a billionaire, you've been taking private travel for
Speaker 1: twenty years now. When I go through I do Delta,
Speaker 1: But when I go through, I'm with the coach for
Speaker 1: all one hundred thousand Delta employees at operation. I was
Speaker 1: on Delta yesterday. Now they picked me up at the curve,
Speaker 1: do that whole thing. So it feels like private. But
Speaker 1: by the way, I had to like three months ago,
Speaker 1: something happened. My greeter wasn't there. I had to go
Speaker 1: through the airport term. I was traumatized.
Speaker 2: Cut it out, John.
Speaker 4: Traumatized.
Speaker 2: No.
Speaker 1: I was like, where are these people, Where these people are,
Speaker 1: where they're coming from, what they're doing? What? When are
Speaker 1: the kids screaming? Why are the lady in here taking
Speaker 1: her clothes off? No, I'm just sayingstation. Yeah. My point
Speaker 1: is that I'm pretty normal, and I still to me
Speaker 1: a minute to readjust to being in an airport term
Speaker 1: because I hadn't been there in months. Imagine if you've
Speaker 1: been taking private planes your whole life or the last
Speaker 1: twenty years. I'm not hate I love it. By the way,
Speaker 1: I one day I have private playing somebody else paid for.
Speaker 1: You have.
Speaker 2: People have no idea what's going on?
Speaker 1: That's right. You've never been in a grocery stores, right,
Speaker 1: You've never been no gas station. You even been to
Speaker 1: a bus station. It's impossible.
Speaker 4: You should fly Southwestern Spirit one time.
Speaker 1: You're getting no. I'm good. But it's impossible to make
Speaker 1: policy for the average person if you.
Speaker 2: Don't understand not connected to them in any way. And
Speaker 2: that's what I wanted to talk about, Like, I love
Speaker 2: the conversation you were having, but I want to put
Speaker 2: some boots on the ground with it. When you talk
Speaker 2: about these working class people, the average everyday person living
Speaker 2: check the chech, just trying to pay their rent, just
Speaker 2: trying to buy groceries, what should they do in regards
Speaker 2: to these tasks? Like could you tell you know you're
Speaker 2: telling everybody else just to be cool and silace noise.
Speaker 2: They don't have that luxury.
Speaker 1: Oh no, this is our time. I mean, you can't
Speaker 1: fall from the floor. Black folks, we've been in. Brown folks,
Speaker 1: we've been We've been doing so much with so little
Speaker 1: for so long. We can almost do anything with nothing.
Speaker 1: I mean, a crisis for us is Tuesday. That's right,
Speaker 1: We've been dealing with crisis. I mean, we wake up
Speaker 1: in Christ this is actually our asset and our problem.
Speaker 1: Before now it was just our problem. I wrote my
Speaker 1: last book of financial literacy for all, which, by the way,
Speaker 1: thanks for helping me launch. It's still number one a
Speaker 1: year later. In business finance, not black just black history.
Speaker 1: If something is business finans in the world. But two
Speaker 1: books before was a book called the Memo, And in
Speaker 1: the Memo I said, basically, there's something that is what
Speaker 1: we don't know that we don't know. No one gave
Speaker 1: us a memo on how the economy works, and I said,
Speaker 1: there's three times of people. There's a surviving mindset, there's
Speaker 1: a thriving mindset as a winning building mindset. Wealthy people
Speaker 1: talk about their ideas. Poor people talk about other people.
Speaker 1: So if you have a surviving mindset that the glass
Speaker 1: is half empty, not half full, it's the same glass.
Speaker 1: But whether you believe you can and whether you believe
Speaker 1: you can't, you're right. So to your point, in a
Speaker 1: normal environment, the surviving mindset is at a significant disadvantage
Speaker 1: because your ability to hustle has no value whatsoever. Your
Speaker 1: ability to avoid a bill or avoid a one eight
Speaker 1: hundred number was at Chris Rock said, I don't know
Speaker 1: if I want a one eight hundred number. I'm not
Speaker 1: answering the phone as a bill collector. Our ability to maneuver.
Speaker 1: The system has no value in a growing driving economy.
Speaker 1: You got to build something, buy something, do something, roll
Speaker 1: with something, understand something. But when things are tough, that
Speaker 1: understanding is actually an asset. So now we need to
Speaker 1: take that understanding, pull it forward and start doing basic stuff.
Speaker 1: Go get yourself a term life insurance policy. You can
Speaker 1: get it for ten bucks a month for a fifty
Speaker 1: dollars if you're in good health. Twenty five thousand and
Speaker 1: fifty thousand dollars policy is little ten dollars a month
Speaker 1: because I don't know how long you're gonna live, but
Speaker 1: I dang sure to know you're gonna die. So there's
Speaker 1: your generational wealth for one hundred bucks a month if
Speaker 1: you're in good health. A million dollar policy DJ a
Speaker 1: million dollar policy. There's your generational wealth right there. Go
Speaker 1: get you a term life insurance policy. Create a will.
Speaker 1: My mother's hid. She had a little inner will. She
Speaker 1: worked an hourly job for thirty two years, and she
Speaker 1: bought and sold in seven home. She had a credit
Speaker 1: score of five eight fifty four when it went that
Speaker 1: high she died. She had a million dollar networth in
Speaker 1: her will was a poison pill. Anybody who pushes back
Speaker 1: on this will is deleted from it. Crickets. Nobody said
Speaker 1: anything but my mother worked an hourly job, had a
Speaker 1: million dollar networks, which means anybody can do it. So
Speaker 1: she had a will, she had a life insurance policy,
Speaker 1: she got her earned income task credit. So what's that.
Speaker 1: Anybody listening to this who make less than sixty thousand
Speaker 1: dollars a year get EITC. If you make thirty eight
Speaker 1: thousand dollars a year, you listening to this, and you're
Speaker 1: in a town anywhere, and you have three children, the
Speaker 1: government owes you sixty five hundred dollars cash if you
Speaker 1: never file. Is retroactive for three years. So anybody listening
Speaker 1: to this who makes forty thousand dollars and goes, what
Speaker 1: did he say? You have a check.
Speaker 4: So that's two three children, No, no, any of the
Speaker 4: word children.
Speaker 1: Anybody makes sixty thousand dollars or less, you get a check.
Speaker 1: The less money and the more kids, as long as
Speaker 1: you're working, the bigger the check. So the sweet spot
Speaker 1: thirty eight forty thousand dollars three kids. But if you
Speaker 1: have forty five thousand dollars in one kid, you still
Speaker 1: get a check. And one of the four Americans who
Speaker 1: qualify for EITC never asked for it. That's twenty billion
Speaker 1: dollars a year. That's not going away. Got you child
Speaker 1: task credit Local. Everybody needs to become like it. We
Speaker 1: need to become nosy. Everybody's reading the Constitution Bill of
Speaker 1: Rights right now, Like, what's these executive orders? I want
Speaker 1: you to learn about financial literacy now, this is your
Speaker 1: time to surge. Whatever the city programs are, the state programs,
Speaker 1: the federal programs. Banks do down payment assistance for poor
Speaker 1: people dj envy. In fact, the worse it gets, the
Speaker 1: more the more the banks want to dig in. So
Speaker 1: a bank, an FDIC insured bank, if you can get
Speaker 1: your score up, and we can help you do that
Speaker 1: at Operation Hope. And that's the other thing you need
Speaker 1: is get your credit score up. The banks will give
Speaker 1: you ten thousand dollars and a grant. Plus undermarket mortgages.
Speaker 1: So even though the mortgage a rich person might like me,
Speaker 1: might be six and a half percent used to be
Speaker 1: I got a two. I got a two point seven
Speaker 1: percent moving down never I'll never get rid of that one.
Speaker 1: But you can't get that anymore. But for community reinvestment
Speaker 1: at cra you might get it for four percent five
Speaker 1: percent plus you get a ten thousand dollars down payment
Speaker 1: assistance grant that's only available to the least of these
Speaker 1: God's children. But we don't know about it. So I
Speaker 1: just now covered home ownership earned income task credit is
Speaker 1: your down payment maybe for homeownership financials. Get your credit
Speaker 1: score up. We have this meeting on April fourth, tomorrow,
Speaker 1: a Dream four. We will talk about it. And we
Speaker 1: got a business plan for Black America, business plan for
Speaker 1: Latino America, business plan for women, a business plan for Asians,
Speaker 1: a business plan for Native American Indians. I wrote them,
Speaker 1: A business plans for poor whites rural America. I wrote
Speaker 1: all the plans, and in one plan it shows that
Speaker 1: if you rely on the government black people, first off,
Speaker 1: you do nothing, our network will be zero by twenty
Speaker 1: fifty three, not poor people, everybody. If Black Americans do nothing,
Speaker 1: but what we're doing right now, just chilling net worth
Speaker 1: by twenty fifty three is zero. If we rely on
Speaker 1: the government, which we've been obsessing about since the Civil War.
Speaker 1: Understand the Civil War, Understand Reconstruction, Understand the Civil Rights movement,
Speaker 1: Understand the Second Reconstruction, I don't understand. Now, we're all up, uptight,
Speaker 1: worked up about what's going on in Washington. Let's assume
Speaker 1: they get a deathbed conversion and they decide they'd love
Speaker 1: black people overnight. They gonna give us welfare, It'll give
Speaker 1: us reparations. Everything that's not gonna happen. But no, but
Speaker 1: it's worth three hundred billion to a maximum of six
Speaker 1: hundred million dollars. Now hold that number by twenty fifty three,
Speaker 1: that's only twenty five years from now. If you raise
Speaker 1: your credit score one hundred points, a lot of people
Speaker 1: have the lowest credit score on average in America, six
Speaker 1: to twenty, which means half of us wake up in
Speaker 1: the morning locked out of the free enterprise system, can't
Speaker 1: get a decent car loan. You go to the car dealership,
Speaker 1: you get a Mercedes eighteen percent interest. It's out of Mercedes.
Speaker 1: It's Mercedes payments, and it breaks down in four months
Speaker 1: because the number one way they make money is maintenance
Speaker 1: and finance department. They don't even make any money selling
Speaker 1: the car. They wait if you to bring it back
Speaker 1: to actual literacy. But if you get your credit score
Speaker 1: up one hundred points, that's seven hundred and fifty billion
Speaker 1: dollars by twenty fifty three. That's one hundred and fifty
Speaker 1: billion dollars more than the best estimate of the government's assistance.
Speaker 1: And we can do that by ourselves become homeowners. That's
Speaker 1: eight hundred billion dollars separate from the seven d and
Speaker 1: fifty billion dollars. That's one point five, give or take
Speaker 1: trillion dollars. And that doesn't even require the government. We
Speaker 1: can do this our salves. There's another trillion dollars on
Speaker 1: buying businesses. Am I going too far too fast? They
Speaker 1: got to do their research.
Speaker 4: They break down is you know, there's tiers when it
Speaker 4: comes to credit.
Speaker 3: So like when you're saying, somebody go into a car
Speaker 3: dealership and they're trying to buy he said, a Mercedes.
Speaker 3: It's a mercy dealership, right, a mercy note. So if
Speaker 3: your tier is four or five or six, forget about it.
Speaker 1: Yep.
Speaker 3: Credit rate if your car is usually four hundred dollars
Speaker 3: a month is going to be eleven hundred dollars a month.
Speaker 3: But if you have Tier one credit, you probably have
Speaker 3: to put down less money and your not there's only
Speaker 3: four money just based off your credit.
Speaker 4: Same thing with home ownership.
Speaker 3: Same thing with credit cards, that you buy the store,
Speaker 3: whether it's Nordstrom, Sears, JC, Penny Macy.
Speaker 4: So that's what he's saying. As far as the tiers
Speaker 4: when it comes to credit.
Speaker 1: Yeah, let's go one step further. The place is where
Speaker 1: we grow up. Check casher, next to a payday loan lender,
Speaker 1: next to a rent own store, next to a title lender,
Speaker 1: as in the title of your car. Yep, pawn shop,
Speaker 1: liquor store right there, church down the street, the church,
Speaker 1: your lovel therapist. They trying to make sure you don't
Speaker 1: go craik cray once a week. Make sure you don't
Speaker 1: go postal on Monday. All right. And by the way,
Speaker 1: poor white same you go to a poor white real neighborhood,
Speaker 1: check cash or pay day long line to rent their
Speaker 1: own store, title in the liquor store, they just pray.
Speaker 1: The church, they just pray differently. They're quietly loud.
Speaker 2: Oh you got about the Fried Chicks bar too, yeah?
Speaker 2: Carry out?
Speaker 1: Well yeah, yeah, fast food. By the way, you lived
Speaker 1: to sixty one years of age. I mapped every zip
Speaker 1: code in America by credit score. You lived a sixty
Speaker 1: one years of age in a five hundred credit score neighborhood,
Speaker 1: you lived to eighty one years of age, fifteen minutes apart.
Speaker 1: In a seven hundred credit score neighborhood, you live twenty
Speaker 1: year longer life because of your credit score. And it's
Speaker 1: not about the credit score, it's the trending indicators underneath
Speaker 1: that hope, well being, faith, confidence, belief, optimism. What disease
Speaker 1: is often diseased. Keep keep your stress level, so again,
Speaker 1: surviving mindset. You have a surviving mindset. You're stressed out,
Speaker 1: you're full of anxiety. If you hanging around nine bro people,
Speaker 1: you'll be the tenth. You're up, you're toe up from
Speaker 1: the flow up. You're gonna die early, and you're eating
Speaker 1: bad food. So this is a game. Man, What did
Speaker 1: Malcolm X say. We've been bamboozled, We've been tricked, we've
Speaker 1: been food, we've been hoodwinked. Here's one for you. Everybody
Speaker 1: wants to start a business. I love that. I've got
Speaker 1: this thing called one million Black Business Initiative SHOPIFI put
Speaker 1: up one hundred and thirty million dollars up to George
Speaker 1: Flord's murder. They just announce it, putting up another sixty
Speaker 1: million to help me get to one hundred and ninety
Speaker 1: million because they can't be happier with all the businesses
Speaker 1: that are black businesses that are now on the Shopifi platform.
Speaker 1: It's not d and I is good business. By the way,
Speaker 1: the president of Shopifi speaking at the Martin Luther King
Speaker 1: Dream Florid Initiative, Harley Finkelstein, it's business for them, which
Speaker 1: is which is.
Speaker 2: What we want now, inclusive economics.
Speaker 1: Inclusive economics, which you helped me pioneer, by the way.
Speaker 1: So so okay, so stick with that for a minute.
Speaker 1: So we at all these business business people. They want
Speaker 1: to be business people now. They want to start a
Speaker 1: pizzeria or something in I need fifty thousand dollars. You
Speaker 1: do a GoFundMe or whatever it is, and you hustling.
Speaker 1: It's in the bank. One give the money. They want
Speaker 1: you to personally guarantee your house. All that stuff easier.
Speaker 1: It is easier for somebody to go to Wall Street,
Speaker 1: which is where we are, and get finance a twenty
Speaker 1: million dollar business with non recourse debt, which means you
Speaker 1: don't personally guarantee it, than it is to start a
Speaker 1: pizzeria with one hundred thousand dollars loans from the bank.
Speaker 1: Now that doesn't that to your audience sounds absolutely crazy.
Speaker 1: Let me break it down. We have the first generation,
Speaker 1: our generation where you're gonna have more people over sixty
Speaker 1: five than underage than under eighteen. These are white, wealthy
Speaker 1: baby boomers, all trying to go retire and play golf
Speaker 1: at the same time. So there is a's about four
Speaker 1: hundred three dollars of wealth in the world. About one
Speaker 1: hundred and eighty treeing of that is in the one
Speaker 1: hundred and eighty training that is in the United States.
Speaker 1: About fifty training of that was created since twenty twenty.
Speaker 1: I'm trying this is. These are this is are ridiculous numbers.
Speaker 1: Fifty threeing of that was just created in the last
Speaker 1: twenty five years. These baby boomers made a crapload of money.
Speaker 1: They're bawling billionaire sent to millionaires. They want to go
Speaker 1: play golf, they want to enjoy their life, they want
Speaker 1: to be on their yacht. God bless them. They're all
Speaker 1: leaving the stage at the same time. Forty percent of
Speaker 1: this country is now black and brown. That's why everybody's nervous.
Speaker 1: By the way, black and brown. He's the new interest
Speaker 1: of the economy within ten years, it's going to be
Speaker 1: a majority of minorities. By the way, A thirty economies
Speaker 1: women seven trillion dollars. So it's black, brown women, right.
Speaker 1: Some people are nervous about who's taken over. This is
Speaker 1: a whole other conversation with this is fueling political the
Speaker 1: political environment. By the way, in my opinion, which is
Speaker 1: what you're singing in Washington, go back to the numbers.
Speaker 1: So now, what's happening with this tree, the one hundred
Speaker 1: tree and dollars with the word of wealth, DJ ANDV
Speaker 1: is about to transition through inheritance in the next ten years.
Speaker 1: The wives and the husbands and the kids wants the stocks,
Speaker 1: the bonds, the cash and the houses. They don't want
Speaker 1: the businesses. Elone, I'm good. I don't want I don't
Speaker 1: understand it. I don't want to do it. I want
Speaker 1: to go enjoy my life. Their generation makes it, taking
Speaker 1: generation spends it, third generation loses it. But don't mind
Speaker 1: me with the facts. I've already made up my mind.
Speaker 1: I want the cash. That means there's about fifteen trillion dollars.
Speaker 1: Please audience, listen to this. This is making smart sexy
Speaker 1: on scale. Does fifteen trillion dollars are profitable, successful, branded
Speaker 1: real estate, having client having nothing wrong with them, businesses
Speaker 1: that nobody wants go buy them. They're already cash flowing.
Speaker 1: There's nothing wrong with them except the kids and the family.
Speaker 4: Don't want them too comfortable.
Speaker 1: I don't know what it is, but it's an opportunity,
Speaker 1: that's what. So I think I started this by saying
Speaker 1: rainbows after storms. You cannot have a rainbow that a storm. First,
Speaker 1: don't look at a problem as a problem, look at
Speaker 1: it as an opportunity. All capitalism is is solving problems.
Speaker 1: So yes, it's going to get tight. We used to
Speaker 1: type black folks are born on probation in the America.
Speaker 1: You gotta be twice as smart, twice as intelligence, twice
Speaker 1: as world dressed, get up twice as early, stave twice
Speaker 1: as late, and worked twice as hard and hustle and
Speaker 1: getting no credit for it. Okay, what else is new?
Speaker 1: This is? This is our life story. Everybody else is
Speaker 1: not used the problems. They're the ones that are going
Speaker 1: to be dropping off of one story buildings. We're going
Speaker 1: to counsel our white friends about calm down. This is
Speaker 1: gonna be okay, so I'm actually quite optimistic about the future.
Speaker 4: So what are you doing this weekend? You're doing something
Speaker 4: specialist weekend.
Speaker 2: Dream Forward, a virtual town on financial inclusion. That's why
Speaker 2: I love John because you always have a solution, you know,
Speaker 2: one any people that's just always constantly talking about problems
Speaker 2: and trying to profit off the problems. He's creating solutions
Speaker 2: to the problems.
Speaker 1: Uh yeah, So dream Forward, thank you, Dream Forward. What
Speaker 1: you're what you're involved in, and I would love to
Speaker 1: have all of you involved in, by the way, because
Speaker 1: you're all voices for this generation. This is uh, this
Speaker 1: is a meeting between Republicans and democrat We have Second
Speaker 1: Senator Raphael Warnock, who is the fifth chap pastor of
Speaker 1: Ebenezer Church and a Democratic Senator. We have Mick Molvaney,
Speaker 1: former chief of staff for Trump. We have the black Pope,
Speaker 1: Bishop T. D. Jakes. We have the man who was
Speaker 1: on the balcony with Doctor King, Ambassador Andrew Young. We
Speaker 1: have doctor King's daughter, Doctor Bernice A. King. She's a
Speaker 1: great person. We've got the Mayor of Memphis, Paul Young,
Speaker 1: who's black. Now, by the way, We've got uh, the
Speaker 1: CEO of Walmart. We've got Doug McMillan, who's co chair
Speaker 1: of Financial Legacy for All, which is doing the Green
Speaker 1: Socks Day. By the way, we can talk about if
Speaker 1: you want, d I. I'll be happy to talk about
Speaker 1: that as well. People have misunderstood that as well, in
Speaker 1: my opinion. We've got killer Mike t I Van Jones.
Speaker 1: I'm just going off the top of my head here
Speaker 1: Ray MacGuire of Mazar to sign a ducket who runs
Speaker 1: a two trillion dollar company called t I a Kraft
Speaker 1: which is just basically pension funds, all your pension funds
Speaker 1: and of estimas a council probably with t I a Kraft.
Speaker 1: It is an amazing lineup. I just talked to doctor
Speaker 1: Ben Chavis this morning. There's one hundred delegates, Bounty, delegates
Speaker 1: of Mark Morele, the National Urban League, everybody who you
Speaker 1: think of or may or may not have known about
Speaker 1: who is at the top of the mark. They are
Speaker 1: going to be there. In fact that we just now
Speaker 1: yesterday the dropping the drop the Mike keynote to walk
Speaker 1: out the stage is Sam Altman, who is the Steve
Speaker 1: Jobs of this generation. That's AI. So it is a
Speaker 1: way to honor doctor King, not by just marching in
Speaker 1: the streets but cutting business deals in the suites. It
Speaker 1: is continuing his unfinished work of the Poor People's Campaign.
Speaker 1: It is his last book. Wherever we go from here,
Speaker 1: it's answering that with a dream forward and there's no complaining.
Speaker 1: There's no politics, there's no whining, there's no talking about politicians.
Speaker 1: This is about us moving forward for two hours, a
Speaker 1: positive plan, and we're gonna leap. Tomorrow people will be
Speaker 1: able to download the business plans we wrote and can
Speaker 1: and you can have it. You can talk about at
Speaker 1: the kitchen table, you can mark it up, change it.
Speaker 1: But this is full transparency. We wrote a plan. Typically
Speaker 1: this happens behind closed doors. We've written these plans and
Speaker 1: they will be available to everybody as of tomorrow morning.
Speaker 1: People can register at Operation dot org and actually listen
Speaker 1: to the global town Hall. Roland Martin is gonna be
Speaker 1: streaming it. You guys are gonna be there. We've gotten
Speaker 1: I think that the Associated Press is gonna be there.
Speaker 1: We have all the networks who have moderators part of it.
Speaker 1: We've tried to be as inclusive as we can.
Speaker 2: We should streaming Nick, we should screaming it. We thought
Speaker 2: about it.
Speaker 1: We got a video yesterday from from the new chairman
Speaker 1: of the Senate Bank Committee. Uh, Tim Scott Brother, what
Speaker 1: time it's It's one to three pm Eastern Standard time
Speaker 1: April fourth today. Yeah, and it's noon to two Central
Speaker 1: Standard time. Doctor King, by the way, was assassinated April fourth,
Speaker 1: nineteen sixty eight, at six pm Central time. That's the
Speaker 1: exact time he He actually had a pillow fight. Right
Speaker 1: before he was assassinated. He had just relaxed, and he
Speaker 1: knew he was gonna be He knew he was gonna
Speaker 1: be killed. The night before. It was the only time
Speaker 1: he ever collapsed on stage. He gave a speech called
Speaker 1: the Mountaintop. I've been to the mountain. I've seen the mountaintop.
Speaker 1: I may not get there with you. He knew it,
Speaker 1: and he collapsed in his and Andrew Young and Jesse
Speaker 1: Jackson's arms and others. And the next day they Andrew
Speaker 1: Young tells me they had this incredible pillow pillow fight
Speaker 1: in the hotel. Will be at the Lorraine Hotel, by
Speaker 1: the way, I will tomorrow let me today. And he
Speaker 1: just thought it was eerie that Doctor King was so
Speaker 1: light and he walked on that balcony and the world changed.
Speaker 1: And what nobody knows is later on the FBI told
Speaker 1: and Basher Young instructions for the shooter was if you
Speaker 1: if you missed, the dreamer killed the strategist. That's Andrew Young.
Speaker 1: So he hasn't been able to sleep for all these years. Wow.
Speaker 1: The guy who created the OSSI and it Harrietville for
Speaker 1: black people in the world. Atlanta, Georgia is the only
Speaker 1: international city in the South, five hundred and fifty million
Speaker 1: dollar economy, the same size as Singapore, by the way,
Speaker 1: so we proven we can build a world economy. The
Speaker 1: guy who did that brought the Olympics to Atlanta, the
Speaker 1: only mayor of it, mentored by doctor King. Can't sleep,
Speaker 1: so we owe him a debt. We owe all the
Speaker 1: heroes and heroes and leaders who came before us a debt.
Speaker 1: We owe those who are trying to fight for our
Speaker 1: civil rights now a debt to carry on this work
Speaker 1: and not just to be about me, but to be
Speaker 1: about we. This is you can't just be selfish anymore.
Speaker 1: Like we have got to be about all of us,
Speaker 1: and this is this is our time. If you want
Speaker 1: to be a part of history, you want to feel
Speaker 1: like your life really mattered. It's right now m hm
Speaker 1: in my opinion, and there are answers to these questions.
Speaker 1: I mean, there's nothing that we talked about this morning.
Speaker 1: That's rocket science.
Speaker 3: Tune in tomorrow and forward on financial inclusion. And what's
Speaker 3: the website again?
Speaker 1: Uh? You can tune in at Operation Hope dot org
Speaker 1: where you can register at Operation Hope dot org and
Speaker 1: it will stream and hopefully the Breakfast Club and I heard,
Speaker 1: by the way, is covering it. Black Information Network is
Speaker 1: covering it. Uh, we have many many maybe platforms. Again,
Speaker 1: Roland Martin is gonna be covering it, and we have
Speaker 1: our own strength. If you get lost, just go to
Speaker 1: Operation Hope dot org and you there'll be instructions there,
Speaker 1: or just follow Charlottmane'll he'll, he'll be with us. Uh.
Speaker 1: But but this is you know, this is this is
Speaker 1: no time to be, This is no time to be.
Speaker 1: I understand stress, and I understand this is serious. But
Speaker 1: unless you just gonna give up, throw your hands up,
Speaker 1: you might as well be positive about it. I can't
Speaker 1: guarantee you that being positive is gonna make you succeed,
Speaker 1: but I absolutely guarantee you the being negative is gonna
Speaker 1: make you fail, absolutely, And these folks want you to
Speaker 1: give up, by the way, they want you to throw
Speaker 1: your hands up. That's why they did all this stuff
Speaker 1: in the first sixty days, was to flood the system,
Speaker 1: overwhelm you, so you throw your hands up and you
Speaker 1: give up. No, no, we're not gonna give up. We're
Speaker 1: gonna double down, and we're gonna be a north star.
Speaker 1: What I want at this meeting is civility. I want
Speaker 1: us to be civil. I want us to be inelegant.
Speaker 1: I want us to be intelligent. I want us to
Speaker 1: be thoughtful. Emmy university has already signed up to work
Speaker 1: on the plan. They were so impressed with what we
Speaker 1: were doing. Their economics department said, this is a great plan. We,
Speaker 1: along with the clock Atlanta University Business School, will work
Speaker 1: the builders out for six months between now in the
Speaker 1: whole global forum in December, where we have another version
Speaker 1: of the plan and everybody gets to participate in that.
Speaker 1: Everybody but the one hundred delegates will get to participate
Speaker 1: and help to shape the plan. So what's going to
Speaker 1: be announced at the meeting is going to the framework
Speaker 1: of the business plan. I talked a little bit about
Speaker 1: that today I mentioned there's seven and fifty billion available
Speaker 1: just for black This is the Black American plan through
Speaker 1: credit score increases. We can do that ourselves. I'm doing
Speaker 1: that at Operation Hope Creasing. Increasing credit score is fifty
Speaker 1: to one hundred points. By the way, don't pay anybody
Speaker 1: to raise your credits that you don't need that. We
Speaker 1: do it for free. You can be a homeowner. Forty
Speaker 1: four percent of Black people own a home, compared to
Speaker 1: seventy five percent of our white counterparts. The number one
Speaker 1: way you build wealth in America is homeownership. Brothers be
Speaker 1: talking about oh job, Brian always talking about owner a home.
Speaker 1: I don't own the home. The bank owns a home.
Speaker 1: If you don't pay. In fact, if you don't pay,
Speaker 1: if I own the home, if I loan you the money,
Speaker 1: I'm on own the home. Like capitalism, we've got to
Speaker 1: stop being emotional. Also man like capitalism is a gladiator sport.
Speaker 1: Here's capitalism. This is a table. You're on one side, DJMIV,
Speaker 1: I'm on the other. You're you're the capitalist, I'm the consumer.
Speaker 1: Your job is to extract as much money from me
Speaker 1: while giving me the least. My job is to pay
Speaker 1: you the least while getting the most. This is my job,
Speaker 1: and that is your job. And every successful negotiation is
Speaker 1: where everybody leaves it slightly annoyed. That's a success. You know,
Speaker 1: you've been in real estate. You know that to be true.
Speaker 1: If somebody's too happy and somebody's too sad, somebody got
Speaker 1: messed over. That's going into a car dealership in the hood. Right.
Speaker 1: So it always drives me nuts when I hear these
Speaker 1: artists talking about, oh, oh these I'm gonna go to
Speaker 1: some taboo areas. Oh these jews in music business, they
Speaker 1: robbing us. First of all, you weren't saying that when
Speaker 1: you when they gave you a record contract. And this
Speaker 1: is not the clans man, this is not this is
Speaker 1: not nobody forced you to side a contract. You should
Speaker 1: have got your attorney. It's that that person's job is
Speaker 1: to negotiate the best possible deal for themselves. Their job
Speaker 1: is not to give you anything. Their job is to
Speaker 1: take every dollar they can off that table. Your job
Speaker 1: is to read your contract and negotiating. And I don't
Speaker 1: want to I just want to do music. Well, you're
Speaker 1: about to get robbed. Quincy Jones told me God rest
Speaker 1: his soul if you think you're in the music business
Speaker 1: and you don't own music rights, publishing rights, or licensing
Speaker 1: rights or some kind of rights. You're not in the
Speaker 1: music business. You're a temporary performer. It's a music business.
Speaker 1: It's the business of music. So your job is to
Speaker 1: go to an attorney and read the contract, hab it reviewed,
Speaker 1: come back with changes, redline notices. Charlemagne reads his contracts.
Speaker 1: I know that. Go back, say no, I don't like
Speaker 1: this part. I don't like that part. I don't want
Speaker 1: that advance. That's a loan, that's what it is. It's
Speaker 1: a loan negotiate. I want to do what they do
Speaker 1: in the NFL. I want a signing bonus. I don't
Speaker 1: want to loan renegotiate. But you can't come back four
Speaker 1: years later because life didn't work out for you, and
Speaker 1: then say you are racist all of a sudden. No, no, no, no,
Speaker 1: that's a good negotiator. You should be applauding them. Actually,
Speaker 1: they did their job. So I'm just trying to make
Speaker 1: it plain like we have got to knock it off,
Speaker 1: like we've got to when the rules are published in
Speaker 1: the playing filler's level, we kill it. Look at you guys,
Speaker 1: you're the biggest in the planet because you know what
Speaker 1: you're doing. Sports, we kill it, the arts, entertainment, music,
Speaker 1: we kill it. Faith, we kill it. Politics, even President
Speaker 1: of the United States, we kill it. Obama, we went
Speaker 1: to the top of the mark. Why can we do
Speaker 1: it in capitalism? I mean, I'm just asking. It's not
Speaker 1: like we did it ried and it didn't work. That's
Speaker 1: why I started out with these numbers about the government.
Speaker 1: We've been obsessing about the government. We've been at this
Speaker 1: trough for too long. They're kicking us out. We should
Speaker 1: want to leave. They're kicking us out. That's what the
Speaker 1: that's what's happening in Washington. But we should have left
Speaker 1: forty years ago to build our own that part. That's right.
Speaker 3: Well, today it's going to be a financial inclusion Dream
Speaker 3: Forward is a virtual town hall.
Speaker 4: And we appreciate you for joining us. Ways, brother, thank
Speaker 4: you so much.
Speaker 1: I love you.
Speaker 2: And make sure you subscribe to John O'Brien's podcast, the
Speaker 2: Money and Wealth Podcast on the blackfact IEARTVEO podcast network.
Speaker 2: You can get information like this.
Speaker 1: By the way, time is by the way, it's top
Speaker 1: five percent of all podcasts. I was stunned. I was
Speaker 1: looking at it last night. It's number thirty two on
Speaker 1: the Entrepreneurship podcast for Everybody love It on Apple and
Speaker 1: it's top five percent. So our people really do want
Speaker 1: to know, like how does this stuff work? Like they
Speaker 1: really do. I had eight hundred million video views in
Speaker 1: two years. Now, that's nothing to you, guys, but I'm
Speaker 1: talking about some boring talking for money. So every and
Speaker 1: every week something hits a million views, one of my
Speaker 1: videos gets and people like you used to look at
Speaker 1: it and it's like two thousand years, eight thousand years,
Speaker 1: ten thousand years. People are people want to know how
Speaker 1: this game worked. Tell me how this stuff works, Joan,
Speaker 1: But no one's broke it down to him. They I
Speaker 1: don't know. I don't know what to see successful people.
Speaker 1: I can't figure it out. I don't know if we're hiding.
Speaker 1: I don't know if they're afraid. I don't I don't
Speaker 1: know what it is. They want to keep it all
Speaker 1: to themselves.
Speaker 2: I was in, Uh, I can't And John's giving it
Speaker 2: to people, not selling it to people. What a difference.
Speaker 1: What did jay Z say, I'm giving you? His four
Speaker 1: four four album was a financial literacy album. We're talking
Speaker 1: to him about the way about a partnership with financial literacy.
Speaker 1: He said, I'm giving you a million dollars or a
Speaker 1: game for nine ninety nine. I'm giving you for no.
Speaker 1: Ninety nine. I was at this meeting, which I can't
Speaker 1: say what the meeting was, but it was a very
Speaker 1: meeting of billionaires in Florida early last year, and I
Speaker 1: couldn't figure out, why are these wealthy people we're discouraging
Speaker 1: home ownership. I'm in this meeting and they don't. They
Speaker 1: want everybody to rent, and they're trying to tell me
Speaker 1: that people don't want to rent anymore. And I'm like, well,
Speaker 1: you know, I was born at night, but not last night.
Speaker 1: Like I read the newspaper and I read report and
Speaker 1: I got data, and my data says that most people
Speaker 1: actually want to own a home, they don't know how to.
Speaker 1: And I think I figured it out because it makes
Speaker 1: no sense to me that my rich friends would tell
Speaker 1: you not to own a home, own a home. The
Speaker 1: rich people telling you not to own a home, own
Speaker 1: probably three by the way, this might be an interest,
Speaker 1: by the way, it's just capitalism. I don't I'm not
Speaker 1: I'm not hating them. When you think about uber Left,
Speaker 1: I know. By the way, we partner with Uber. I
Speaker 1: love I love Dana the dire of the guy who's
Speaker 1: CEO that's renting you a ride. You can rent an
Speaker 1: RV help me out here, you can rent, you can rent,
Speaker 1: dang there anything. Now, it could be that people are saying,
Speaker 1: you know what, we're gonna own all the houses and
Speaker 1: all the assets. Y'all just rent, Just rent your life.
Speaker 1: You know your generation, you just want to we'll have fun. Fine,
Speaker 1: if you want to be ignorant. Sorry, if you want
Speaker 1: to be cool, you gon rent your life. We'll own it.
Speaker 1: We'll take care. Don't worry about it. We'll take care
Speaker 1: of it. By the way, I'm a landlord, but I
Speaker 1: want you to move from rent to own. I don't
Speaker 1: want you staying with me forever. I don't want you
Speaker 1: working in McDonald's for your entire life. I would say Walmart.
Speaker 1: But by the way, do you know that if you're
Speaker 1: a if you're a general manager of a Walmart, you're
Speaker 1: making a million dollars a year. Did you know that?
Speaker 1: That's stunning to me? It is. If you're working one
Speaker 1: of these big box retailers, you're making as much as
Speaker 1: a million all the year. I almost passed out this
Speaker 1: opportunity everywhere. People have got to become obsessed with financial
Speaker 1: literacy and AI Literateye, everything is going to change by
Speaker 1: twenty fifth, twenty thirty, sorry, by the next five years.
Speaker 1: If you got a high school education and you lazy,
Speaker 1: and you chilling, you messed up, you toe up from
Speaker 1: the flow up, this world's gonna leave you absolutely behind.
Speaker 1: Van Jones will be at the meeting said that ninety
Speaker 1: nine percent of white people Black people don't know a
Speaker 1: thing about AI, but nine nine percent of white people
Speaker 1: don't know a thing about AI either. This is mutual discrimination.
Speaker 1: And if you're an accountant, your job might be gone
Speaker 1: because AI is going to remove it. If you're in
Speaker 1: an attorney, your job might be gone. But if you
Speaker 1: can master artificial intelligence, everything's going to change. You want
Speaker 1: to ride the horse of how AI accounting is going
Speaker 1: to be next, or law's going to be next, or
Speaker 1: what you've seen robotics and automation technology completely transform radio
Speaker 1: and media. So this stuff is changing underneath our feet.
Speaker 1: If you're working at a CVS or a grocery store,
Speaker 1: you went into one five years, AG go ten counter
Speaker 1: clerks at the rest of the grocery store, one tester
Speaker 1: line for self checkout. Go to the same grocery store today,
Speaker 1: ten self checkouts. One teller tell me, I'm lying. Go
Speaker 1: to cb as a Walgreens. You might not see a
Speaker 1: teller all at all. Go to the go to the
Speaker 1: go to the airport, and go to the fast food restaurant.
Speaker 1: It's a tablet. It's happening right in front of us.
Speaker 1: Folks have got to be obsessed about what we're talking
Speaker 1: about here. Your life literally depends on it. And if
Speaker 1: we master this, this country can't survive without black and
Speaker 1: brown people and women. God has a sense of humor.
Speaker 1: I'm done. When I was here last I said this,
Speaker 1: but I'm gonna double down. It's never been in the
Speaker 1: history of the world. You cannot be a global economy.
Speaker 1: You cannot be the world leader unless you're the economic leader.
Speaker 1: There's never been a power that was in the economic
Speaker 1: power at the same time. Rome, France, Germany, whoever it was, Britain.
Speaker 1: We're the world leader with the economic leader. There's never
Speaker 1: been a situation where relied on the northeast to sustain that. Ever,
Speaker 1: in nineteen fifty America was ninety percent white, not eighteen
Speaker 1: fifty nineteen fifty. America is down incredibly diverse, and there's
Speaker 1: not enough college educated, successful white men to drive GDP
Speaker 1: Gross domestic product for the next twenty years. There's just
Speaker 1: not enough of them. I want every one of them
Speaker 1: to be successful, there's just not enough of them. So,
Speaker 1: unless we want to be speaking Mandarin in twenty years,
Speaker 1: my rich friends eat, my poor friends do better, if
Speaker 1: only to stay rich. They actually need us. I'm gonna
Speaker 1: say something real crazy. Even the Klansmen, even the racist,
Speaker 1: the most racist white person you've ever met, succeeds when
Speaker 1: we do well.
Speaker 3: Today, tune into Dream Forward, a virtual town hall on
Speaker 3: financial inclusion, and we appreciate you for joining us.
Speaker 2: Operation Hope.
Speaker 1: Thank you, John.
Speaker 4: It's John Hope. Brian, It's the Breakfast Club. Good morning.
Speaker 1: Wake that ass up in the morning. Breakfast Club.