WEBVTT - INTERVIEW: John Hope Bryant Talks Dream Forward Event, Trump Tariffs, Financial Literacy, Economic Growth +More 0:00:00.400 --> 0:00:02.440 Wake that ass up in the morning. 0:00:02.600 --> 0:00:05.400 The Breakfast Club Morning. 0:00:05.400 --> 0:00:09.119 Everybody is the j Envy, Jess Hilarious, Charlamagne the God. 0:00:09.160 --> 0:00:11.559 We are the Breakfast Club. We got a special guest 0:00:11.640 --> 0:00:14.640 in the building. Yes, indeed we have John Hopebrian. Welcome back, brother, 0:00:15.400 --> 0:00:15.720 be here. 0:00:15.760 --> 0:00:18.239 How you feeling bless if John O'Brien is it? I 0:00:18.320 --> 0:00:19.520 mean that there's some good things. 0:00:19.320 --> 0:00:19.960 Going on in the world. 0:00:20.000 --> 0:00:23.720 First of all, you came gifts or bad. But at 0:00:23.800 --> 0:00:26.079 least the things that are bad you can explain, especially 0:00:26.079 --> 0:00:27.360 when it comes to some financial stuff. 0:00:27.440 --> 0:00:30.280 Rainbows only follow storms. You cannot have a rainbow without 0:00:30.280 --> 0:00:32.280 a storm. First scientific fact. 0:00:32.320 --> 0:00:34.640 Actually, let's let's jump right into that. I was actually 0:00:34.640 --> 0:00:37.440 thinking about you the other day. Shout out any socks 0:00:37.440 --> 0:00:38.360 for us to socks. 0:00:38.600 --> 0:00:41.879 Yeah, you brought some gifts, so Walmart made these for us. 0:00:41.920 --> 0:00:44.640 This is Green Socks Day. You can go online and 0:00:44.640 --> 0:00:50.519 get them. They're April thirtieth. We've got the NBA, NFL, 0:00:50.600 --> 0:00:55.000 thank you, Roger Goodell, and NASCAR, hockey, Major League Baseball, 0:00:55.080 --> 0:00:57.600 major League soccer. I think that's all of them. We 0:00:57.600 --> 0:00:59.520 have all of them. It's never happened before. All the 0:00:59.560 --> 0:01:03.640 sports leagues are behind green socks. Day. So I'm asking 0:01:03.680 --> 0:01:07.720 everybody to put a sock on and talk about financial literacy. 0:01:07.760 --> 0:01:11.320 On April thirtieth, do something on financial literacy. Tag Green 0:01:11.360 --> 0:01:14.720 Socks Day on your social media, Highlight a post, and 0:01:14.840 --> 0:01:16.800 Nasdaq is going to feature the best posts on this 0:01:16.880 --> 0:01:20.000 big board here in New York on April thirtieth. In 0:01:20.040 --> 0:01:22.440 the ten top posts, We're going to fly him to 0:01:22.440 --> 0:01:24.800 New York City. Let them ring the bell. The New 0:01:24.880 --> 0:01:28.080 York stock has changed. So this is the way. You know, 0:01:28.160 --> 0:01:32.280 people are arguing over black and white, red and blue. 0:01:33.200 --> 0:01:34.640 Can we just agree on some green. 0:01:36.080 --> 0:01:37.039 That's why the socks are green. 0:01:37.120 --> 0:01:39.759 That's why, Yes, we want the whole country to come 0:01:39.800 --> 0:01:43.000 together on April thirtieth, and this is Financial Literacy Month. 0:01:43.040 --> 0:01:44.399 By the way I. 0:01:44.400 --> 0:01:46.200 Was saying, I was thinking about just speaking of the country. 0:01:47.160 --> 0:01:49.120 With all the tariffs that that Trump is putting on 0:01:49.120 --> 0:01:51.760 the country, right, and you know people are looking to 0:01:51.800 --> 0:01:54.400 purchase their force homes all, what what would. 0:01:54.160 --> 0:01:55.080 You advise people to do? 0:01:55.160 --> 0:01:56.920 Right, Because they're saying with the tariffs, they're saying the 0:01:56.920 --> 0:01:59.040 price of materials are going to go up in price. 0:01:59.080 --> 0:02:02.320 They're saying the price of cars and the parts are 0:02:02.320 --> 0:02:04.480 gonna be shooting up what would you advise people to 0:02:04.480 --> 0:02:07.960 do if they're looking for home ownership at this this 0:02:07.960 --> 0:02:09.960 this point in their life, This is. 0:02:09.919 --> 0:02:13.360 Gonna seem schizophrenic in my advice. I'm telling you in advance, 0:02:14.000 --> 0:02:17.000 ignore the noise. First of all, this is just noise, 0:02:18.680 --> 0:02:22.440 Just like DEI was a distraction, Like why are we 0:02:22.480 --> 0:02:24.840 are getting overdi? Were fifth on the list? Why are 0:02:24.840 --> 0:02:28.240 we the poster child for TI? Right? But they wanted 0:02:28.320 --> 0:02:31.040 us to be the poster child Somebody did. Somebody wanted 0:02:31.080 --> 0:02:34.919 black people to be because that triggers ratio overtones and 0:02:34.919 --> 0:02:37.519 all that other kind of stuff. That wasn't even our fight. 0:02:38.720 --> 0:02:41.600 This is not our fight. This is somebody else's problem 0:02:41.680 --> 0:02:44.680 at the moment. This is like hitting if you want 0:02:44.680 --> 0:02:48.680 to get in a fight. It's like hitting your face 0:02:48.760 --> 0:02:54.880 on my fist if you want to fight. That's what 0:02:55.040 --> 0:02:59.080 this is. This country is seventy percent consumer spending. Sorry, 0:02:59.240 --> 0:03:03.520 the biggest acoutonomy on the planet America. We're twenty five 0:03:03.520 --> 0:03:06.280 percent of the global economy. We're forty percent of global 0:03:06.320 --> 0:03:11.280 wealth in the world. We're big ballists. Out of eight 0:03:11.320 --> 0:03:13.160 billion people, it's only three to fifty million people, but 0:03:13.200 --> 0:03:16.120 we lead the whole world. But seventy percent of economy. 0:03:16.160 --> 0:03:18.440 It's not rich people, it's not big business. It's you 0:03:18.560 --> 0:03:23.160 and me paying for car notes and mortgages and going 0:03:23.200 --> 0:03:26.000 to get some coffee which didn't work outside. You know, 0:03:26.440 --> 0:03:28.679 it's little stuff. It was a car service that brought 0:03:28.720 --> 0:03:31.400 me here. It's a breakfast that we had this morning. 0:03:32.320 --> 0:03:36.040 So this economy can't succeed without us succeeding, first of all. 0:03:37.080 --> 0:03:40.880 So this party ultimately will pivot back to what's going 0:03:40.960 --> 0:03:44.080 to drive the economy. Because this is a capitalist democracy, 0:03:44.520 --> 0:03:48.760 big C, little D it's a free enterprise democracy. So 0:03:48.880 --> 0:03:51.480 I tell people ignore the noise this stuff. If it's 0:03:51.520 --> 0:03:55.640 not working, Washington's gonna have to pivot. There's a strategy 0:03:55.720 --> 0:03:57.360 in Washington. I was at the Secretary of the Treasury 0:03:57.360 --> 0:03:59.160 a couple days ago, who I actually like. I think 0:03:59.200 --> 0:04:00.280 he's actually a decent guy. 0:04:00.440 --> 0:04:01.960 Please break that down because I need to know what 0:04:02.000 --> 0:04:03.480 the strategy. I don't understand it. 0:04:03.640 --> 0:04:08.080 Well, no, no, I didn't say understood it. You're gone 0:04:08.120 --> 0:04:10.720 too far. I said, Well, then, first of all, I said, 0:04:10.720 --> 0:04:12.280 I like him, and he and I got to work 0:04:12.280 --> 0:04:14.000 together on financial literacy. We don't you know, we're not 0:04:14.040 --> 0:04:16.240 gonna agree on everything. I was with him for an hour. 0:04:16.320 --> 0:04:18.480 I didn't break I didn't address this issue because his 0:04:18.560 --> 0:04:20.320 boss has already made up his mind, and I know 0:04:20.600 --> 0:04:23.080 I didn't want to put him in an uncomfortable situation 0:04:23.240 --> 0:04:25.960 and ask him questions that he can't answer. Uh, this 0:04:26.120 --> 0:04:28.000 has to play itself out. I mean, the country is 0:04:28.040 --> 0:04:31.440 having one big colonic right dawn. So it's gonna take 0:04:31.680 --> 0:04:33.120 as long as it will take. I don't think it's 0:04:33.160 --> 0:04:36.440 gonna take very long. You're not talked about this, and 0:04:36.839 --> 0:04:40.000 either he's writer or he's not. The only way terroifts work, 0:04:40.040 --> 0:04:41.520 and I could break down what a tariff is, by 0:04:41.520 --> 0:04:43.280 the way, most peoplen't understand it. The only way a 0:04:43.360 --> 0:04:47.120 tariff works is if it's short term and it's tied 0:04:47.200 --> 0:04:50.560 to you negotiating something from whoever you're trying to extract 0:04:50.600 --> 0:04:54.480 something from another country. If it's your long term strategy 0:04:54.800 --> 0:04:59.360 in a country that is consumer spending, it's a disaster 0:05:00.600 --> 0:05:03.119 because it's a tax on you and me. I'm getting 0:05:03.120 --> 0:05:03.640 ahead of myself. 0:05:04.960 --> 0:05:05.719 Let me move the tariff. 0:05:05.720 --> 0:05:08.400 For first of all, you ask you this question of yours, 0:05:08.920 --> 0:05:11.039 you do the tariffs. So because that goes into this is. 0:05:11.040 --> 0:05:14.040 Really important for your audience. I mean, because people run 0:05:14.160 --> 0:05:16.200 through these titles. And I did. I did a podcast 0:05:16.240 --> 0:05:17.600 on money and wealth last week. You went to the 0:05:17.680 --> 0:05:21.320 roof just explaining like normal terms that people recession and 0:05:21.480 --> 0:05:24.120 tariff and inflation. Nobody people assumeing people know this stuff. 0:05:24.160 --> 0:05:26.800 Who's teaching anybody financial literacy? You're not dumb and you're 0:05:26.839 --> 0:05:28.960 not stupid. Is what you don't know that you don't 0:05:29.040 --> 0:05:32.680 know is killing you. But you think you know. A 0:05:32.800 --> 0:05:36.560 tariff And as simple as I can describe, it is 0:05:36.600 --> 0:05:41.520 a tax on American businesses and American consumers. So this 0:05:41.720 --> 0:05:45.400 concept of I'm gonna you hit me. You're a China, 0:05:45.600 --> 0:05:48.920 you're by the way, Russia didn't get a terror interesting, Uh, 0:05:49.560 --> 0:05:53.560 your Russia, you're wherever India you hit me, I'm gonna 0:05:53.600 --> 0:05:58.160 hit you back. No, A tariff might because the cost 0:05:58.279 --> 0:06:01.000 of the thing has gone up. Might mean we find 0:06:01.240 --> 0:06:05.320 Chinese goods less attractive, we find Indian goods less attractive 0:06:05.320 --> 0:06:07.960 because what costs a dollar now costs a dollar eighty. 0:06:08.160 --> 0:06:09.720 So maybe we say I don't want any more of that. 0:06:10.360 --> 0:06:15.560 But the importer of the thing pays the pays the 0:06:15.640 --> 0:06:17.560 tach is hard to get a straight face. The import 0:06:17.640 --> 0:06:22.440 the American business pays the tax at the duty station, 0:06:23.360 --> 0:06:25.000 and what is that importer going to do. What is 0:06:25.200 --> 0:06:27.840 a big company going to do when they get hit 0:06:27.920 --> 0:06:30.080 with higher prices that there's no fault of their own. 0:06:30.120 --> 0:06:30.599 They increase. 0:06:30.680 --> 0:06:34.240 It's common sense. This is a radical movement of common sense. 0:06:34.960 --> 0:06:37.760 They pass that on to you and me, So our 0:06:37.839 --> 0:06:41.880 prices of everything is going to go up unless in 0:06:42.040 --> 0:06:45.600 a month he changes his mind again, which he's apt 0:06:45.680 --> 0:06:48.279 to do and says I was just kidding. Now, let 0:06:48.360 --> 0:06:51.960 me go one step further and tell you how this 0:06:52.120 --> 0:06:55.200 the only way this could have worked. If he's saying 0:06:55.240 --> 0:06:58.880 he wants to promote domestic production, he wants to bring 0:06:58.960 --> 0:07:05.360 everything back home. Fair argument. Although American American American manufacturer 0:07:05.640 --> 0:07:08.960 very good, American as a Mattriss manufacturing hub of old 0:07:09.000 --> 0:07:12.320 school manufacturing ended in the nineteen seventies. That's why there's 0:07:12.360 --> 0:07:15.120 more poor whites in America than poor anybody else, because 0:07:15.120 --> 0:07:18.640 they had a high school education, hustle, and the jobs 0:07:18.640 --> 0:07:23.320 that they were doing walked away. In nineteen forty nineteen fifty, 0:07:23.640 --> 0:07:27.640 Detroit was the richest city in the world for automotive 0:07:29.000 --> 0:07:32.119 in the world, richer than prayers, richer than their release. 0:07:32.200 --> 0:07:35.120 That was one of the poorest because the business plan 0:07:35.200 --> 0:07:38.440 from manufacturing walked away from America. It went to places 0:07:38.480 --> 0:07:40.680 that were cheaper. Now we can be American. We can 0:07:40.720 --> 0:07:43.160 be a manufacturing center today, but it's gonna be high 0:07:43.200 --> 0:07:46.480 tech manufacturing. It's gonna be artificial and tight legends and robotics, 0:07:46.560 --> 0:07:49.400 which you need education for. Back to the story. The 0:07:49.520 --> 0:07:52.440 only way this would have worked is if the president said, 0:07:53.080 --> 0:07:56.760 you know, a year before elected, get all the bankers together, 0:07:57.280 --> 0:07:59.680 get all the fortune five hundred companies together, and look 0:07:59.720 --> 0:08:01.960 you good, I'm gonna be president of the year. Just 0:08:02.040 --> 0:08:04.240 believe me. What I need you to do. Go to 0:08:04.320 --> 0:08:07.240 your boards, Go to your governance committees at the boards, 0:08:07.760 --> 0:08:10.480 Go to your bankers who allocate capital. Go to Wall Street, 0:08:10.920 --> 0:08:13.560 tell them I'm coming and tell them to put capital 0:08:13.600 --> 0:08:17.560 aside for manufacturing at home. Also, because I'm gonna have Terrace. Also, 0:08:18.200 --> 0:08:21.680 I need you to go to Stanton Island. I need 0:08:21.760 --> 0:08:25.200 you to go to little towns in Cleveland. I need 0:08:25.280 --> 0:08:28.880 you to go to Detroit, whatever and cut deals for land. 0:08:29.600 --> 0:08:32.040 I'm just breaking this downright, and and get the cities 0:08:32.120 --> 0:08:33.920 to support you and we By the way, you're gonna 0:08:33.920 --> 0:08:36.040 need you get ai. You're gonna need a bunch of 0:08:36.400 --> 0:08:39.679 energy to fuel these AI factors. You need to get 0:08:39.760 --> 0:08:43.520 some uh you know, electricity and water, things generated. But 0:08:43.600 --> 0:08:44.880 I need to get I'm gonna give you a year 0:08:44.880 --> 0:08:49.280 because it's gonna be tens of billions of dollars in investment. 0:08:49.600 --> 0:08:51.760 And know that I'm committed to this my whole presidency. 0:08:52.160 --> 0:08:55.640 This is a new America. And the CEOs go, okay, 0:08:55.760 --> 0:08:57.160 we're with you. We want to bring this back. And 0:08:57.200 --> 0:08:58.679 by the way, what's what's what's in it for us? 0:08:58.840 --> 0:09:01.600 And he has these economic mo shows blah blah blah 0:09:01.720 --> 0:09:03.760 period of time, this is gonna be short term pain, 0:09:03.880 --> 0:09:09.480 long term game. Okay, none of that happened, so there's 0:09:09.520 --> 0:09:12.800 no way. I'm just look, I'm not four against. I'm 0:09:12.880 --> 0:09:15.040 just saying I like math. It doesn't have an opinion. 0:09:15.679 --> 0:09:19.400 I'm just saying. Stevie, my friend Stevie Wanner can see this. 0:09:19.840 --> 0:09:23.480 None of this is going to work long term because 0:09:23.520 --> 0:09:25.200 there is no planning. 0:09:25.679 --> 0:09:27.960 So you think, do you think this is a ploy 0:09:28.080 --> 0:09:29.679 for Trump to get what he wants? You think it's 0:09:29.679 --> 0:09:31.800 a short term play and not a long term play 0:09:31.800 --> 0:09:32.680 when it comes to the stats. 0:09:32.720 --> 0:09:34.439 I didn't say I understood it. I said I was 0:09:34.480 --> 0:09:37.199 gonna explain it. Look, he's been talking about Terra since 0:09:37.280 --> 0:09:43.000 nineteen eighty night go to interviews of him from nineteen eighties. 0:09:43.200 --> 0:09:45.679 He's obsessed with it. I have no idea where he 0:09:45.720 --> 0:09:49.400 got this from. It's like new math. My calculator works 0:09:49.400 --> 0:09:54.679 pretty well. Unless he is the most intelligent being on 0:09:54.760 --> 0:09:56.839 the planet, unless he has a whole new way of 0:09:56.920 --> 0:09:59.439 viewing economics. I just don't understand it. I'm pretty good 0:09:59.440 --> 0:10:01.760 at it. I just don't understand. That's why the markets 0:10:01.800 --> 0:10:04.600 are in the tank. That's why you know, CEOs are 0:10:04.600 --> 0:10:06.320 scratching their head. But no one wants to say anything 0:10:07.240 --> 0:10:09.720 because you don't want to get on his bad side. Look, 0:10:09.800 --> 0:10:13.000 I want him to win. I'll say it. He's my president. 0:10:13.200 --> 0:10:19.199 Whatever the election is over, he's my president. I want 0:10:19.240 --> 0:10:22.160 him to win because if he wins, if he loses. 0:10:23.240 --> 0:10:27.040 So this, you know, trying to wish him well and 0:10:27.120 --> 0:10:30.280 going to Louisiana hitting getting little the little dolls that 0:10:30.440 --> 0:10:41.000 time kind of stuff. No, No, pray, pray for your president, 0:10:41.080 --> 0:10:43.679 pray for your country. We're all in this thing together. 0:10:43.840 --> 0:10:47.560 Like real talk. But and here's my way of thinking. 0:10:47.760 --> 0:10:52.080 Talk without being offensive, Listen without being defensive, and always 0:10:52.160 --> 0:10:56.000 leave even your adversary with their dignity, because if you don't, 0:10:56.120 --> 0:10:57.840 they'll spend the rest of their life working to make 0:10:57.880 --> 0:11:00.839 you miserable. It becomes personal. You got a step over 0:11:00.920 --> 0:11:02.920 mess and not in it. He is the President of 0:11:03.000 --> 0:11:05.360 the United States of America. He's as you can see 0:11:05.400 --> 0:11:08.120 from the executive orders, he's incredibly powerful. He's not a king, 0:11:08.320 --> 0:11:11.000 but he has incredible power. And we're going to see 0:11:11.000 --> 0:11:12.200 that some of the stuff he's doing as a bridge 0:11:12.240 --> 0:11:14.640 too far. It's gonna get reversed. But he has incredible 0:11:14.720 --> 0:11:18.040 power with the pen. So we need to walk delicately here. 0:11:18.960 --> 0:11:22.880 It's an interesting relationship. I was in a relationship years 0:11:22.920 --> 0:11:26.120 and years ago, luckily a wonderful wife JJ. When I 0:11:26.200 --> 0:11:28.600 was a kid, I was in a relationship with somebody 0:11:28.600 --> 0:11:33.240 who was emotionally immature, which he didn't say much for me. 0:11:33.280 --> 0:11:37.160 I picked her, but it was like an emotional Hangarnad. 0:11:38.240 --> 0:11:40.959 But I was already in it, and I had to 0:11:41.160 --> 0:11:45.520 really be careful. I put that hand Gernad back down 0:11:45.559 --> 0:11:48.400 on the ground so it didn't explode and tear me up. 0:11:48.880 --> 0:11:51.320 This is where we are. We have to be very 0:11:51.400 --> 0:11:55.000 delicate about this situation, and we have to find some 0:11:55.160 --> 0:11:59.520 way to help him feel like he won, like I 0:11:59.559 --> 0:12:01.640 don't know what it is, but whatever in the next 0:12:01.679 --> 0:12:04.240 thirty days, next forty five days. This is not sustainable. 0:12:05.200 --> 0:12:08.439 We got to give him some out the country of 0:12:08.559 --> 0:12:13.199 other leaders where he feels, yeah, my terror strategy won. 0:12:13.600 --> 0:12:19.040 Otherwise this economy will slow and your prices will go up. 0:12:19.280 --> 0:12:22.120 You already had inflation from the let's clear something else, 0:12:22.160 --> 0:12:27.920 though it's too late for this. Biden created inflation ridiculously 0:12:28.200 --> 0:12:31.960 completely wrong. In fact, it was Trump then the Republican 0:12:32.000 --> 0:12:39.240 Democrat Congress and Biden. Everybody passed five six trillion dollars 0:12:39.280 --> 0:12:41.600 worth of stimulus during the pandemic, so the economy didn't 0:12:41.640 --> 0:12:45.319 stall because economy was going to stall when everybody was 0:12:45.400 --> 0:12:49.439 in their houses. Because this consumer driven economy and that 0:12:49.559 --> 0:12:52.160 plus the Federal Reserve, there's about six seven trillion dollars 0:12:52.240 --> 0:12:54.520 actually more like nine to win the economy. That's where 0:12:54.559 --> 0:12:56.920 the inflation came from. When you have an imbalance of 0:12:56.920 --> 0:12:59.640 supply and demand, so you have too much supply money 0:13:00.480 --> 0:13:04.959 the nine of the band, it inflates the cost of 0:13:05.040 --> 0:13:05.400 things to. 0:13:05.360 --> 0:13:07.800 All the stimulus checks in the PvP loans. Everybody loved 0:13:08.080 --> 0:13:09.480 that part, that. 0:13:09.600 --> 0:13:11.920 Part and it ain't going away, And I said, ain't 0:13:11.960 --> 0:13:14.760 on purpose, because there's never been in the history DJ 0:13:15.200 --> 0:13:18.319 in the history of the world, there's never been a 0:13:18.480 --> 0:13:23.480 trillion dollars of stimulus by any government at any time ever. 0:13:24.000 --> 0:13:28.719 And we did nine trillion. Let that sink in. So 0:13:28.800 --> 0:13:29.959 how do you think how long you are you gonnaink 0:13:29.960 --> 0:13:32.280 it's gonna take for that to work through your transmission system. 0:13:32.840 --> 0:13:34.960 So of course we're lucky we don't have twelve percent 0:13:35.040 --> 0:13:38.280 on inflation. We're lucky we don't have eighteen percent unemployment. 0:13:38.559 --> 0:13:40.360 Like what Biden should have done, he should have come 0:13:40.400 --> 0:13:41.880 in and said, I'm gonna be present for four years. 0:13:42.760 --> 0:13:45.120 I'm your dude, I'm gonna stabilize everything, I'm gonna drop 0:13:45.200 --> 0:13:47.920 the mic, I'm a bounce. I'm only here for four years. 0:13:47.960 --> 0:13:49.240 That's what he should have done. He should have said 0:13:49.240 --> 0:13:51.360 that up front and been done with his legacy. Would 0:13:51.400 --> 0:13:54.679 have been fantastic. But you get in that office. I've 0:13:54.720 --> 0:13:57.600 been an advisory for three US presidents. That's intoxicated. That power. 0:13:57.840 --> 0:13:59.760 That power is intoxicate. You don't want to leave. 0:14:00.160 --> 0:14:01.800 Really, ask you a question, do you think the government 0:14:01.840 --> 0:14:02.120 will so? 0:14:02.240 --> 0:14:04.040 Yes, you should buy a house. By the way, people 0:14:05.400 --> 0:14:09.000 don't change your game, don't change your plan, change your mind. 0:14:09.200 --> 0:14:12.080 This is this noise is going to ultimately go away. 0:14:12.160 --> 0:14:14.080 Three things have never gone down the history of America 0:14:14.240 --> 0:14:19.800 GDP Gross Domestic product, real estate's values, and stock market values. 0:14:19.840 --> 0:14:24.960 They've gone up. There's a recession, it corrects above the line. 0:14:25.200 --> 0:14:28.640 After the recession, it recedes. Recessions, recedes, and then corrects 0:14:28.640 --> 0:14:31.560 above the line. Every time somebody might makes an emotional decision, 0:14:31.640 --> 0:14:36.200 it's a bad one. Poor people sell in bad times. 0:14:36.240 --> 0:14:39.040 What did Warren Buffett say? When people are afraid, be greedy? 0:14:39.720 --> 0:14:42.240 When people are greedy, be afraid. Okay, you're about to say. 0:14:42.160 --> 0:14:42.960 Something I was going to ask you. 0:14:43.000 --> 0:14:45.360 I was going to say, you know, with that that 0:14:45.480 --> 0:14:48.680 type of thinking, the prices of everything are going to 0:14:48.760 --> 0:14:50.080 go up, right in the next couple of months. 0:14:50.160 --> 0:14:52.920 We assume right, build and costs are expensive. 0:14:53.080 --> 0:14:55.240 Interest rates might come down, by the way, metals and 0:14:55.240 --> 0:14:57.320 all that. Right, you said, what about intro r They 0:14:57.400 --> 0:14:58.400 might come down and inter. 0:14:58.720 --> 0:14:59.960 Come on the same thing would cost which the pres 0:15:00.080 --> 0:15:01.920 it is banking on. By the way, So if. 0:15:01.840 --> 0:15:05.160 Somebody these houses and these properties, or they buy these cars, 0:15:05.160 --> 0:15:07.000 and they boy these materials, and the prices are up 0:15:07.400 --> 0:15:09.760 when this game that we're thinking that he's playing, which 0:15:09.840 --> 0:15:11.720 is a short term game, changes back in a couple 0:15:11.760 --> 0:15:13.720 of months and he takes these towers offs, and now 0:15:13.800 --> 0:15:16.920 those goods are less money you bought when it was high. 0:15:17.560 --> 0:15:20.520 Does that hurt help effect? Well, you're assuming the goods 0:15:20.520 --> 0:15:21.920 are going to come back down in price. 0:15:21.880 --> 0:15:23.480 If the tower's come off, shouldn't. 0:15:23.200 --> 0:15:25.560 You're assuming that the price is going to back down. 0:15:26.160 --> 0:15:31.840 Greed is an interesting thing. You know. There were during 0:15:31.920 --> 0:15:35.360 the pandemic there were container companies, the ones who put 0:15:35.400 --> 0:15:39.200 the stuff on ships, because we're all run through international trade. 0:15:39.360 --> 0:15:41.160 By the way, twenty five percent of the US economy 0:15:41.440 --> 0:15:45.720 is international trade. So there was container companies who were 0:15:45.920 --> 0:15:50.560 found to be gorging, gouging prices for no good reason. 0:15:51.120 --> 0:15:56.000 The prices had, Yeah, temporarily there was not enough of them, 0:15:56.040 --> 0:15:58.720 and the prices went up. But then when they kept 0:15:58.760 --> 0:16:02.920 the prices high big because it was you know, layering 0:16:03.000 --> 0:16:05.920 their pockets. So and Bash or Andrew Jung says that 0:16:06.000 --> 0:16:09.280 men and women fail for three reasons arrogance, pride, and greed. 0:16:10.640 --> 0:16:12.320 And greed is the oldest thing on the book. The 0:16:12.360 --> 0:16:15.240 only time Jesus Christ they ever got upset was when 0:16:15.280 --> 0:16:17.520 he turned the table over the money changers in the temple. 0:16:17.760 --> 0:16:20.920 That's the only time you get upset. So I think 0:16:21.000 --> 0:16:23.760 that because we're the biggest economy in the world, because 0:16:23.760 --> 0:16:27.800 it's consumer spending, because capitalists ultimately want to win, prices 0:16:27.880 --> 0:16:30.720 will come down to meet the demand of the consumer. 0:16:31.160 --> 0:16:33.080 But it's not going to be like flipping a switch 0:16:33.120 --> 0:16:36.400 and with somebody in somebody in Washington things. In my 0:16:36.520 --> 0:16:39.960 opinion that if you trigger a mild recession, this is 0:16:40.640 --> 0:16:43.320 I don't agree with this. You trigger a mi out recession, 0:16:43.640 --> 0:16:45.280 you can blame it on the other guy. I don't 0:16:45.320 --> 0:16:48.600 agree with that either. I hope this is translating to 0:16:48.680 --> 0:16:50.920 your audience when I say the other guy. You blame 0:16:50.960 --> 0:16:54.000 it on the other guy, not the current president. You 0:16:54.120 --> 0:16:57.080 then get the FED the lower interest rates, which by 0:16:57.080 --> 0:16:59.000 the way, helps wealthy people like me but doesn't help 0:16:59.000 --> 0:17:06.960 the average every day, and then the economy's booms and 0:17:07.720 --> 0:17:11.960 you're golden for midterm elections. Some people believe that. I 0:17:12.160 --> 0:17:15.280 just I just don't think that that's rational, and I 0:17:15.320 --> 0:17:17.400 think the timing is gonna be all messed up. Even 0:17:17.440 --> 0:17:19.080 if that did work, I don't think it's gonna work. 0:17:20.160 --> 0:17:24.600 Here's the problem the White House. I've known none US presidents. 0:17:24.640 --> 0:17:27.400 I've known twelve. I've worked with twelve Secretaries of the Treasury. 0:17:28.520 --> 0:17:30.760 I've been an advisor for three US presidents both parties. 0:17:30.800 --> 0:17:34.600 Have been honored by five from both parties. I've never 0:17:34.680 --> 0:17:36.560 seen a White House where nine nine percent of people 0:17:36.560 --> 0:17:42.399 are either sent to millionaires or billionaires the advisors. Now again, 0:17:42.520 --> 0:17:44.280 I'm very wealthy, but I go to the hood once 0:17:44.320 --> 0:17:49.120 a month. Yeah, intentionally. I tell my driver wherever I'm at, 0:17:50.040 --> 0:17:52.040 take me, take me to wherever the hood is, and 0:17:52.240 --> 0:17:54.240 they are all freaked out. I want to see it. 0:17:54.800 --> 0:17:56.440 I want to see how we're living. I want to 0:17:56.440 --> 0:17:58.200 see those check cashes and pay day long liverers. I 0:17:58.200 --> 0:17:59.720 want to go get out and go into a grocery 0:17:59.760 --> 0:18:02.000 store or convenienced. I want to listen what's up. I 0:18:02.080 --> 0:18:03.200 want to listen to the I want to get in 0:18:03.280 --> 0:18:05.040 then uber driver, you know, I want to get in 0:18:05.080 --> 0:18:05.440 the taxi. 0:18:05.680 --> 0:18:07.119 You want to talk to the people when people talk 0:18:07.160 --> 0:18:08.879 about but never talk to that's right. 0:18:09.160 --> 0:18:12.160 So if you are a cented millionaire one hundred million, 0:18:12.359 --> 0:18:17.440 if you're a billionaire, you've been taking private travel for 0:18:17.560 --> 0:18:21.760 twenty years now. When I go through I do Delta, 0:18:22.160 --> 0:18:23.639 But when I go through, I'm with the coach for 0:18:23.680 --> 0:18:26.320 all one hundred thousand Delta employees at operation. I was 0:18:26.359 --> 0:18:28.680 on Delta yesterday. Now they picked me up at the curve, 0:18:29.000 --> 0:18:31.320 do that whole thing. So it feels like private. But 0:18:32.080 --> 0:18:34.520 by the way, I had to like three months ago, 0:18:35.240 --> 0:18:37.680 something happened. My greeter wasn't there. I had to go 0:18:37.800 --> 0:18:39.600 through the airport term. I was traumatized. 0:18:40.040 --> 0:18:41.040 Cut it out, John. 0:18:45.040 --> 0:18:45.760 Traumatized. 0:18:48.480 --> 0:18:48.520 No. 0:18:49.760 --> 0:18:51.800 I was like, where are these people, Where these people are, 0:18:51.920 --> 0:18:56.359 where they're coming from, what they're doing? What? When are 0:18:56.359 --> 0:18:59.080 the kids screaming? Why are the lady in here taking 0:18:59.080 --> 0:19:08.160 her clothes off? No, I'm just sayingstation. Yeah. My point 0:19:08.359 --> 0:19:11.760 is that I'm pretty normal, and I still to me 0:19:11.840 --> 0:19:15.239 a minute to readjust to being in an airport term 0:19:15.320 --> 0:19:18.000 because I hadn't been there in months. Imagine if you've 0:19:18.040 --> 0:19:21.040 been taking private planes your whole life or the last 0:19:21.080 --> 0:19:23.160 twenty years. I'm not hate I love it. By the way, 0:19:23.480 --> 0:19:25.480 I one day I have private playing somebody else paid for. 0:19:25.560 --> 0:19:25.760 You have. 0:19:26.160 --> 0:19:27.280 People have no idea what's going on? 0:19:27.400 --> 0:19:29.080 That's right. You've never been in a grocery stores, right, 0:19:29.240 --> 0:19:31.840 You've never been no gas station. You even been to 0:19:31.880 --> 0:19:34.080 a bus station. It's impossible. 0:19:34.160 --> 0:19:35.840 You should fly Southwestern Spirit one time. 0:19:35.880 --> 0:19:40.160 You're getting no. I'm good. But it's impossible to make 0:19:40.240 --> 0:19:41.679 policy for the average person if you. 0:19:41.680 --> 0:19:43.920 Don't understand not connected to them in any way. And 0:19:44.040 --> 0:19:45.439 that's what I wanted to talk about, Like, I love 0:19:45.520 --> 0:19:46.919 the conversation you were having, but I want to put 0:19:46.960 --> 0:19:48.320 some boots on the ground with it. When you talk 0:19:48.320 --> 0:19:51.360 about these working class people, the average everyday person living 0:19:51.440 --> 0:19:53.159 check the chech, just trying to pay their rent, just 0:19:53.240 --> 0:19:56.000 trying to buy groceries, what should they do in regards 0:19:56.040 --> 0:19:57.800 to these tasks? Like could you tell you know you're 0:19:57.800 --> 0:20:00.400 telling everybody else just to be cool and silace noise. 0:20:00.640 --> 0:20:01.639 They don't have that luxury. 0:20:02.000 --> 0:20:04.720 Oh no, this is our time. I mean, you can't 0:20:04.720 --> 0:20:08.000 fall from the floor. Black folks, we've been in. Brown folks, 0:20:08.000 --> 0:20:09.680 we've been We've been doing so much with so little 0:20:09.720 --> 0:20:11.880 for so long. We can almost do anything with nothing. 0:20:12.400 --> 0:20:15.080