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Speaker 1: It's that time. Time, time, time, luck and load. The

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Speaker 1: Michael Verie Show is on the air now.

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Speaker 2: I literally have never said anything to invoke violence, and

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Speaker 2: I challenge somebody to go and find a clip of

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Speaker 2: a democrat invoking violence. I just don't even know why

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Speaker 2: there aren't uprisings all of the country, and maybe there

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Speaker 2: will be.

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Speaker 3: People need to start taking to the streets. This is

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Speaker 3: a dictator.

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Speaker 2: You know.

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Speaker 4: There needs to be unrest in the streets for as

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Speaker 4: long as there's unrest in our lives.

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Speaker 2: Enemies of the state, show me where it says that

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Speaker 2: protests are supposed to be polite and peaceful.

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Speaker 3: Comet is some your tongue.

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Speaker 2: I thought he should have punished him in the face

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Speaker 2: and said, even if you lost, he insulted you, why

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Speaker 2: sit on the escalator and called Mexican's rapist emmers. He said, well,

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Speaker 2: what do you think I should done? I think you

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Speaker 2: should punish him in the face and then gotten out

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Speaker 2: of the race. You would have been a hero, I shaid,

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Speaker 2: if we were in high school, taking the god the

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Speaker 2: gym and beat the hell out of him, punched some

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Speaker 2: people in the face.

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Speaker 1: When was the last time an actor assassinator the president

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Speaker 1: they're still going to have to go out and put

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Speaker 1: a pull at a dollar.

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Speaker 3: She's dumbed down, he said.

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Speaker 2: What just happened? Well, oh that's crazy. Let's turn our

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Speaker 2: attention locally for a moment, shall we. Texas DPS trooper

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Speaker 2: who died in the crash in Sanjacino County has been

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Speaker 2: identified as Jerry adamic I have checked to make sure

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Speaker 2: that's his last name, or that's how his last name

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Speaker 2: is spelled, and I believe that that is a D

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Speaker 2: A M i ck. Jerry Adamick was on his way

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Speaker 2: to an emergency call when his patrol car struck a

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Speaker 2: tree and caught fire. He was a twenty one year

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Speaker 2: veteran of the United States Army and he had graduated

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Speaker 2: the DPS Academy just over a year ago. Survived by

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Speaker 2: his wife and five adult children. Big family story, Khou,

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Speaker 2: I'll try that again. The story from k h oh u,

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Speaker 2: k h oh you is the number twenty one? Yeah,

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Speaker 2: twenty one? Oh here? Oh now, okay.

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Speaker 4: I think FM nine forty five was blocked off. And

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Speaker 4: when we drove by earlier today we could see that

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Speaker 4: scorched ground where the trooper lost his life. People we

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Speaker 4: spoke to say that area can be dangerous for drivers.

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Speaker 4: The damage visible on this DPS trooper vehicle helps tell

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Speaker 4: the tragic story. It happened around nine thirty along FM

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Speaker 4: nine forty five, about half a mile from FM twenty

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Speaker 4: twenty five Hi at least twenty fire k h o

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Speaker 4: U eleven learned the trooper was on the way to

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Speaker 4: a since the San Jacinto Sheriff's office on a call,

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Speaker 4: but he wouldn't make it. In a statement from DPS

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Speaker 4: where told the troopers vehicle left the road, hit a

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Speaker 4: tree burst into flames. He died at the scene.

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Speaker 2: And what went through your mind with this kind of loss.

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Speaker 2: It's awful, that's all I know, Just awful. I feel

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Speaker 2: for the family.

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Speaker 4: Hours after the crash, the DPS shut down half.

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Speaker 3: Of the road.

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Speaker 4: This video shows the cars lining the street as troopers

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Speaker 4: walk along the tree line. Khou eleven spoke to drivers

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Speaker 4: in the area who say that stretch of road cuts

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Speaker 4: through national forest land and is extremely dark.

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Speaker 2: Oh, we got wild life fall up and down this road,

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Speaker 2: and it does get very dark down there.

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Speaker 4: And in that particular area, a curve in the road

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Speaker 4: can make travel treacherous at night.

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Speaker 2: So you just try to avoid this as much as

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Speaker 2: you can. Yeah, I don't go out at night.

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Speaker 4: At this point, it's not clear what factored into the crash,

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Speaker 4: but there's no question right now many are filling the loss.

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Speaker 4: The Montgomery, CA Downy Judge shared on social media that

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Speaker 4: the trooper leaves behind a wife and children.

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Speaker 2: Today, at two pm, Chairman of the Fedge, your own

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Speaker 2: Powell is set to speak. It will be a press event.

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Speaker 2: He will be speaking directly to the press, and that

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Speaker 2: comes at the conclusion of a two day meeting of

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Speaker 2: the Central Banks Rate Setting Committee. So that will either

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Speaker 2: be an announcement that they are lowering rates or they're not,

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Speaker 2: because everyone is expecting a rate cut at this point,

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Speaker 2: and if there is a rate cut, the reaction will

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Speaker 2: be is it enough. There are a couple of factors

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Speaker 2: at play here. The interest rate is how you control

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Speaker 2: the amount of money that gets out into circulation. When

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Speaker 2: you raise interest rates, you restrict the money supply. When

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Speaker 2: you lower interest rates, you push money out into the

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Speaker 2: money supply. The more money you put into circulation, the

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Speaker 2: greater the likelihood of inflation. If everybody has a dollar

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Speaker 2: and and a loaf of bread is two dollars, and

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Speaker 2: that's been the price of a loaf of bread for

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Speaker 2: a while, but all of a sudden, everybody gets ten dollars. Well,

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Speaker 2: it's not going to be as difficult for me to

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Speaker 2: buy bread, So I'm going to go buy a bunch

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Speaker 2: of bread. Well the other guy says, well, I want

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Speaker 2: some of that bread, so he offers more money. Before

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Speaker 2: you know what, we drive up the price of bread. So,

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Speaker 2: because there has not been significant inflation, and because unemployment

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Speaker 2: is creeping up, and I think that is largely because

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Speaker 2: you're seeing AI replace people, and AI is now no

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Speaker 2: longer replacing simple technologies or phone answers receptionists. We're seeing

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Speaker 2: AI now wipe out blocks of positions in certain companies,

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Speaker 2: mechanical engineers, architects. We're seeing professional services. We're seeing layoffs

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Speaker 2: in professional services at companies that are thriving. You expect

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Speaker 2: layoffs when companies are suffering. We're seeing companies that are

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Speaker 2: booming that are investing the boom into AI, so they

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Speaker 2: don't have employees. You're welcome to hate them for that,

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Speaker 2: but it's not going to change it. So we're seeing

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Speaker 2: a strange parallel that we've almost never seen before, which

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Speaker 2: is companies are more profitable, so the stock prices go

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Speaker 2: up while they're laying off employees. Unemployment rising is typically

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Speaker 2: a parallel of bad economic times. Business doesn't do well,

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Speaker 2: they can't they can't afford the employees, they lay them off,

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Speaker 2: and eventually they shut down. We're seeing companies that are

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Speaker 2: more profitable than ever, partly because they're laying off employees.

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Speaker 2: All of that points to a need to cut the

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Speaker 2: interest rate. Email from a listener during the break. I

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Speaker 2: think the stock market will surge if interest rates drop.

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Speaker 2: That's typically what happens because an interest rate drop is

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Speaker 2: going to create a short term economic boom. But a

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Speaker 2: lot of folks remember, the stock market is really just

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Speaker 2: a poll. You know, we take a poll to say

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Speaker 2: who do you want to be president? The stock market

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Speaker 2: is really just a poll. It's the pulse.

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Speaker 3: You buy.

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Speaker 2: If you expect an upside, you sell if you expect

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Speaker 2: a downside. Now, there are a number of reasons to sell.

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Speaker 2: You could sell because you're cashing out to buy a yacht.

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Speaker 2: You could sell because you're closing out an account or

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Speaker 2: an estate. But by and large, are you going long

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Speaker 2: or short? Are you betting on future success? If a

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Speaker 2: stock is at thirty bucks a share, and yesterday it

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Speaker 2: was at twenty. If you buy at thirty, you're counting

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Speaker 2: on it going to forty. If you sell at thirty,

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Speaker 2: you're counting on it going back to twenty. I've called

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Speaker 2: the stock market for years legalized betting, and I believe

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Speaker 2: that's what it is. It's what life insurance is as well.

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Speaker 2: By the way a life insurance is. If I take

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Speaker 2: out a life insurance policy, I'm betting I'm going to

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Speaker 2: die and I'm willing to pay money that if I die,

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Speaker 2: you have to pay. My family they're betting. Uh uh,

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Speaker 2: you're not going to die. We're going to keep taking

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Speaker 2: your money because you're going to live. And that's really

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Speaker 2: how that bet works. Insurance is a form of legalized gambling.

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Speaker 2: All of these are ways that we assign and reassign

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Speaker 2: and trade and bet on risk. We don't know what's

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Speaker 2: going to happen. So in answer to the listeners question,

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Speaker 2: will the stock market surge if rates decrease, Well, if

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Speaker 2: the question is because you're intending to go buy some

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Speaker 2: sort of fund because you don't know which stocks are

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Speaker 2: going to increase in value, or maybe you're going to

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Speaker 2: go find a bundle of mortgage funds or home builders,

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Speaker 2: or furniture companies or car dealerships, because you expect those

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Speaker 2: are the companies most tied to interest rates, which is true,

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Speaker 2: by the way, but there's capital acquisitions. There are makers

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Speaker 2: of CNC machines that are going to sell more because

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Speaker 2: companies can now borrow at better rates and afford them.

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Speaker 2: You know, if there's a piece of equipment you need

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Speaker 2: in order to increase production, but that piece of equipment

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Speaker 2: costs three million dollars not hard to do, and say

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Speaker 2: manufacturing and it would cost you twenty five thousand dollars

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Speaker 2: a month at current interest rates, or seventeen thousand dollars

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Speaker 2: a month. If interest rates drop to a particular number,

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Speaker 2: that starts to make that deal make more sense. So

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Speaker 2: you go buy that CNC machine. Well, ay, that's going

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Speaker 2: to affect your business as a manufacturer. But if I'm

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Speaker 2: the CNC maker manufacturer I make the machine itself that

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Speaker 2: you use to make stuff, or I'm the delivery company

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Speaker 2: or the salesman who who does that, then I'm I'm

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Speaker 2: going to see my sales increase. So a decrease in

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Speaker 2: the interest rate. If Powell announces it at two o'clock today.

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Speaker 2: If that happens, it's got to be significant enough to

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Speaker 2: make a difference. But there is also a certain amount

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Speaker 2: of sideline sage people sitting back and going. Interest rates

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Speaker 2: have actually dropped. I track these. You got people at

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Speaker 2: six and a third six and a half right now,

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Speaker 2: are who are locking in mortgages right now? You got

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Speaker 2: a lot of people sitting on the sideline going, I'm

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Speaker 2: not going to lock in right now because it's going

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Speaker 2: significantly lower. And I actually think that's true. I don't

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Speaker 2: know how significantly. I think Powell is locked in his heels,

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Speaker 2: and I think he's very prideful, and I think that

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Speaker 2: that clouds his judgment over good decision making. I think

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Speaker 2: he doesn't want I think he perceives he's one of

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Speaker 2: these very weak men who is strong when he closes

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Speaker 2: the door at his study and thinks he's a tough man,

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Speaker 2: but out in public is and god forbid somebody ever

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Speaker 2: take a swing at him. I mean, he's this is

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Speaker 2: not a tough man in person. This is a little

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Speaker 2: weasily type. But you know we've seen these types before.

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Speaker 2: They can be very dangerous. This is an Anthony Fauci.

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Speaker 2: They can be very dangerous because they are so petuant,

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Speaker 2: because they're a runt, they're little. So if Powell leads

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Speaker 2: a rate drop that drops into the fives, that would

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Speaker 2: be aggressive. Let's say it's going to be a series

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Speaker 2: of them. But let's say within the month, whereat if

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Speaker 2: we could be at five point five. But let's say

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Speaker 2: we could be at five and three quarters. I suspect

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Speaker 2: that would be enough to get people. It's the uncertainty.

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Speaker 2: Nobody wants to lock in at what are better interest

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Speaker 2: rates than they were six months ago. Nobody wants to

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Speaker 2: lock in on that because they don't want to be

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Speaker 2: the fool that I'll use around themous. They don't want

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Speaker 2: to be a fool that locked in at six point five.

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Speaker 2: When interest rates can down to five point seventy five

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Speaker 2: and you can say, well, you can refinance maybe some

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Speaker 2: loans you can't refinance. You can't refinance that fast, and

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Speaker 2: there is a transactional cost to refinancing. So I think

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Speaker 2: a lot of people are sitting on the sideline waiting

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Speaker 2: to take out a loan or to refinance, or to

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Speaker 2: do the various things, or to buy to make capital acquisitions.

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Speaker 2: You've also got folks trying to do that before the

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Speaker 2: end of the year, especially if they can ac celebrate

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Speaker 2: depreciation for the year. A lot of those factors. But

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Speaker 2: who that's affecting is, let's say mac mac will be

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Speaker 2: very honest, A number of folks finance their furniture, especially

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Speaker 2: if you come in and buy a whole houseful of

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Speaker 2: furniture several hundred thousand dollars. That's not something people pay.

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Speaker 2: I mean, some people do, but a lot of his

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Speaker 2: folks are working class folks and they've just moved here,

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Speaker 2: or this is their forever home, it's their dream home.

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Speaker 2: Maybe a young married couple. They want to have a

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Speaker 2: house full of furniture that they've moved into their first house.

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Speaker 2: They're going to finance that. That interest rate is going

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Speaker 2: to affect it. Mike Bachis at lone Star Chevy. It

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Speaker 2: is definitely an impediment to selling Silverados or Tahoes or

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Speaker 2: suburbans if you're waiting on the interest rate to come down,

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Speaker 2: because not a lot of folks are paying cash for

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Speaker 2: their vehicle. So if that interest rate comes down, he's

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Speaker 2: going to sell more Chevies. All of these things, And

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Speaker 2: of course, you know Mike Figen at Design Tech homes

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Speaker 2: in Republic Grand Ranch. I was with Gary Summer this

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Speaker 2: weekend and we were talking about sales, and he said,

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Speaker 2: we're killing it right now. I forget how many you're selling.

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Speaker 2: Three hundred homes a year. We're killing it right now.

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Speaker 2: But if that interest rate gets down into the fives,

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Speaker 2: I'm going to have to jump on the phones because

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Speaker 2: there's a lot of people waiting, a lot of people

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Speaker 2: on lists saying I want, I gotta have that, but

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Speaker 2: I'm waiting on that. And then you'll hear a mortgage company.

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Speaker 2: You notice you don't hear mortgage companies on on the

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Speaker 2: air during our Brace. You'll hear the mortgage companies coming

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Speaker 2: back because now there'll be activity in that second far

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Speaker 2: too soon. Some informations from some of our show sponsors

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Speaker 2: that they are gearing up for a big Q four

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Speaker 2: and an even bigger Q one with expected rate cuts,

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Speaker 2: and you think of anything that people finance. Texas Pools

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Speaker 2: dot Com our pool builder, they've not built as many

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Speaker 2: new pools this year as they normally would a lot

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Speaker 2: of pool renovations as people kept the pool they had

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Speaker 2: rather than build. The Robin Leech lifestyle is the rich

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Speaker 2: and famous pool that they had planned. But a lot

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Speaker 2: of people are calling our home improvement show sponsors out,

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Speaker 2: getting a bid, getting a sense of what all it'll costs,

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Speaker 2: what it'll look like, what's the time frame. And then

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Speaker 2: some folks are just holding, waiting and hoping prices go

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Speaker 2: down and not up because they have to finance it.

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Speaker 2: So what's going to happen is it's going to be

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Speaker 2: the toilet paper before the storm. When the interest rates hit,

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Speaker 2: there go the phone lines. So the feast or famine

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Speaker 2: world of home improvement, worst case scenario will kick in.

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Speaker 2: And so everybody that's been putting off getting a new

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Speaker 2: roof because it's two hundred and fifty thousand dollars because

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Speaker 2: they have a ten thousand square foot house or a

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Speaker 2: pool or a house or whatever else is going to

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Speaker 2: make that call. And now all of a sudden, you

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Speaker 2: go from you being able to control within reason when

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Speaker 2: your project starts and finishes because the companies are not

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Speaker 2: as busy as they're going to be, to overnight people

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Speaker 2: angry that they can't get their work done within the

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Speaker 2: next couple of days. And I've waited six months for

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Speaker 2: you to do this project and kept you on hold

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Speaker 2: at the ready and now I've called and I need

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Speaker 2: you to come and do it right now. Yeh, but

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Speaker 2: some other people did that too, and there are only

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Speaker 2: so many crews available, so you'll go back to the

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Speaker 2: feast in the feast or famine world. I think about

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Speaker 2: when China, Fauci and the Democrats collaborated to kill a

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Speaker 2: lot of Americans and destroy American industry and our lives

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Speaker 2: and our rights and our freedoms and our health and

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Speaker 2: all of the interruptions and disruptions in the supply chain,

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Speaker 2: for instance. But I found it funny how many times

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Speaker 2: I would notice someone imposing a price increase and blaming

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Speaker 2: it on COVID because I guess they figured people are

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Speaker 2: too stupid, or imposing a delay in a process and

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Speaker 2: blaming it on COVID. It's always interesting to me how

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Speaker 2: people will build in time because they don't want rough, tough,

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Speaker 2: difficult schedules. You know, if you apply to a government

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Speaker 2: office for a permit that would take ten minutes to

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Speaker 2: review and stamp and give back. If they give you

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Speaker 2: a month, well it doesn't take more than the ten minutes.

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Speaker 2: It's just they're not going to devote the ten minutes

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Speaker 2: until at the end of the month. That way, if

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Speaker 2: they go on a two week vacation, if you're used

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Speaker 2: to going in and handing them the document and they

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Speaker 2: stamp it and give it back, and that process took

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Speaker 2: ten minutes. If they're out two weeks, you notice, hey,

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Speaker 2: it should only take ten minutes. Now it's taking me

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Speaker 2: two weeks. So they just build in a month and

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Speaker 2: if they get around to it three weeks from now.

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Speaker 2: You know who doesn't build in long delays. Companies humping

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Speaker 2: it to make a profit, Companies working very hard to

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Speaker 2: build customer satisfaction, a loyal customer base. That's who doesn't

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Speaker 2: do that. They find ways to shave time off. They

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Speaker 2: find ways to create products and services based on the consumer.

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Speaker 2: If you read Walter Isaacson's books, two books on Steve

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Speaker 2: Jobs and Elon Musk, each of them them probably a

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Speaker 2: thousand pages of their long. They're tomes. It'll take you

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Speaker 2: a minute, but you will see approaches to business that

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Speaker 2: are strangely similar, and you start noticing things in society

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Speaker 2: about which way businesses are run. Those are not the

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Speaker 2: only two charismatic, innovative leaders of companies. But when you

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Speaker 2: start looking at what drives them in fact, they have

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Speaker 2: a lot in common with Trump in this way. The

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Speaker 2: entrepreneurial mind looks for a problem that can be solved.

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Speaker 2: You think of Sharper Image. You remember Sharper Image or

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Speaker 2: sky Mall. You'd open up the sky Mall magazine and

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Speaker 2: you would see products and maybe they didn't deliver on

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Speaker 2: what they promised, but you could see products that were

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Speaker 2: designed around solving a problem you have. Do you notice

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Speaker 2: that when you don't want your dog to bark because

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Speaker 2: you're trying to be quiet, your dog barks, introducing they

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Speaker 2: and then oh, well that's a problem I have. Everything

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Speaker 2: was solution oriented based on a user who was in

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Speaker 2: charge of a company that was that mindset, which is

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Speaker 2: the exact opposite of the way government works. Government is

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Speaker 2: not in the solution business. There's no incentive for government

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Speaker 2: to solve your problem, and that's why they don't. There's

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Speaker 2: no drived Orange early yesterday afternoon and on Ien at

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Speaker 2: about Baytown or so Deldale. I exited Delldal and went

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Speaker 2: off and went through a neighborhood and went around. That's

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Speaker 2: the way ways had me going, but the freeway was

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Speaker 2: shut down. I'm not naive. I don't believe you never

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Speaker 2: have to do maintenance on the freeway. But I do

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Speaker 2: believe this, if you're going to shut the freeway down,

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Speaker 2: you damn well ought to be actually working at maximum

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Speaker 2: capacity twenty four hours a day. And I drove along

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Speaker 2: the feeder road because that's where it had me at

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Speaker 2: certain points, and you see entire patches where there's maybe

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Speaker 2: one guy and his job is to keep you from

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Speaker 2: exiting right there, and you're thinking they're in no hurry,

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Speaker 2: and then every few years they'll announce, you know, we're

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Speaker 2: giving a bonus to people who finish the.

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Speaker 3: Job one time.

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Speaker 2: It makes people crazy that the companies doing these things

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Speaker 2: aren't in any hurry at all to get the project finished.

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Speaker 2: In fact, in many cases it makes more financial sense

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Speaker 2: for them to drag them out and then you just

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Speaker 2: do the equivalent of change orders on the project because

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Speaker 2: it was a low bid to get the project. But

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Speaker 2: everybody knows that low bid was a first offer. There's

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Speaker 2: going to be once you get the contract, there are

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Speaker 2: going to be change orders. And government is not in

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Speaker 2: a position because it's not their money to say no,

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Speaker 2: you're not doing that. You're gonna finish it on time,

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Speaker 2: on budget, and if that cuts into your profits. That's

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Speaker 2: on you, so they end up paying them more. That's

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Speaker 2: the opposite of the mindset that says, let's solve problems,

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Speaker 2: and that's why you don't want government running anything, least

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Speaker 2: of all your healthcare, your schools.

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Speaker 3: Just sit here listening to my theory.

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Speaker 2: Songwriter Steve Goodman at Austin City Limits, January seventeenth, nineteen

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Speaker 2: eighty two. I'll bet you somebody listening to us right

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Speaker 2: now was at a show sent to me by Mike

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Speaker 2: Rethmeier in Lovely Friendswood. So I know you like Steve Goodman,

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Speaker 2: here's one for you. Well, yeah, how can you be

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Speaker 2: in a bad mood listening to talk backwards? Steve Goodman

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Speaker 2: just a man and his guitar entertaining with clever wordplay.

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Speaker 2: I mean, Sandy Peterson, our research director, pointed out, I

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Speaker 2: was talking about the interest rate cut and how that

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Speaker 2: was going to spur a lot of economic activity do

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Speaker 2: in a lot of ways. It will be referred to

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Speaker 2: as spurring electric economic activity, in the way you spur

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Speaker 2: a horseship, kick it in the rib cage to get

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Speaker 2: it to go when it doesn't want to or was

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Speaker 2: it prepared to. But that's not really what's happening. What's

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Speaker 2: really happening is like the doors to Walmart on Black Friday,

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Speaker 2: interestingly named where when they open the doors, you've got

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Speaker 2: everybody jammed up against there and then they trample each

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Speaker 2: other going in. And I'll admit I like it.

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Speaker 4: I like it.

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Speaker 2: Please don't ever end that tradition, because I figure anybody

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Speaker 2: at the front of that line getting trampled dare I say,

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Speaker 2: deserves it because you know what you're you know what

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Speaker 2: cheap chinese chotchkey? Are you willing to sacrifice your life for?

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Speaker 2: There's no way you're surprised. Look at who's around you. Honestly,

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Speaker 2: did you expect these people to be reasonable? Did you

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Speaker 2: expec back decorum going into Walmart? And you're just lucky

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Speaker 2: that these are the people that are mostly going to

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Speaker 2: pay for what they're getting. You didn't see yesterday's shift.

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Speaker 2: They don't show up on Black Friday. They just show

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Speaker 2: up and steal it. They don't want a crowd around

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Speaker 2: getting in the way. Oh yes, oh yes. So Sandy

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Speaker 2: Peterson made the point, don't forget the new tax right off,

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Speaker 2: where is accelerated appreciation? So you take all the depreciation

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Speaker 2: in the year that you purchase. So I know you

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Speaker 2: understand this, and people who buy assets capital assets understand this.

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Speaker 2: But if you spend a million dollars on a piece

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Speaker 2: of equipment or far more. In a commercial environment, a

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Speaker 2: million bucks on a piece of equipment is not even

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Speaker 2: that much. But you've got small companies five ten employees

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Speaker 2: where if they can spend a million bucks on a

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Speaker 2: piece of equipment that they desperately need, that will increase

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Speaker 2: productivity exponentially. And instead of having to do what we

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Speaker 2: would refer to a straight line appreciation, let's say that

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Speaker 2: the useful life of that asset was ten years. Then

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Speaker 2: typically in the past, and I'm oversimplifying, I understand that

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Speaker 2: you don't have to tell me that. But in the past,

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Speaker 2: you would appreciate one hundred thousand per year. So simply put,

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Speaker 2: and again i'm oversimplifying, but you would reduce your earnings

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Speaker 2: by a one hundred thousand on your tax returns. So

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Speaker 2: if your corporate income tax was twenty percent of that

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Speaker 2: one hundred thousand that you now didn't make, that's twenty

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Speaker 2: thousand you would make back. So multiply that by ten.

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Speaker 2: For a ten million dollar asset per year over ten years. However,

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Speaker 2: if instead of straight line appreciation, which is taking the

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Speaker 2: tax right off for the asset over ten years or

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Speaker 2: whatever the useful life of that asset is seven, what

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Speaker 2: if you could do it all at once. So now

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Speaker 2: that million dollar asset that you purchased, you can deduct

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Speaker 2: on an accelerated appreciation overnight. We saw this, I'll give

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Speaker 2: you a good example. You saw it in a lot

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Speaker 2: of industries. We saw this with the private jet industry.

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Speaker 2: Trump created a firestorm, I mean just an absolute explosion

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Speaker 2: in activity of jet sales, which actually drove jet prices

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Speaker 2: up when he offered accelerated depreciation on jet purchases. So

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Speaker 2: I had a group of friends, four guys. They bought

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Speaker 2: a plane. I think it was a little over to me.

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Speaker 2: Let's say it was two million, and they were a

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Speaker 2: foursome in the deal. So each of them had five

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Speaker 2: hundred thousand into it, and they were able to depreciate.

433
00:29:58,680 --> 00:30:01,280
Speaker 2: And there are lawyers and CPAs who actually specialize in

434
00:30:01,360 --> 00:30:04,520
Speaker 2: these sorts of things, so they're basically able to knock

435
00:30:04,560 --> 00:30:07,200
Speaker 2: five hundred thousand off of their earnings for that year

436
00:30:07,800 --> 00:30:11,880
Speaker 2: on a taxable rate of almost forty percent. That's two

437
00:30:12,000 --> 00:30:14,200
Speaker 2: hundred thousand dollars. That's two hundred thousand dollars. You don't

438
00:30:14,240 --> 00:30:17,400
Speaker 2: have to give Uncle Sam. That's real money, no matter

439
00:30:17,480 --> 00:30:21,640
Speaker 2: who you are. Those sorts of those sorts of changes,

440
00:30:22,160 --> 00:30:29,240
Speaker 2: rule changes drive industries. They absolutely accelerate economic activity in

441
00:30:29,360 --> 00:30:32,920
Speaker 2: particular industries. Well, you're going to see that. If you

442
00:30:33,040 --> 00:30:35,800
Speaker 2: see a drop of you see a drop of fifty

443
00:30:35,920 --> 00:30:38,600
Speaker 2: or seventy five basis points, which won't happen overnight, but

444
00:30:38,800 --> 00:30:41,560
Speaker 2: could happen by the end of the year. So you're

445
00:30:41,560 --> 00:30:45,280
Speaker 2: going to see Q four economic activity increase, and by

446
00:30:45,480 --> 00:30:48,840
Speaker 2: Q one next year election year twenty twenty six, and

447
00:30:48,960 --> 00:30:50,720
Speaker 2: you're going to see that start to heat up through

448
00:30:50,760 --> 00:30:55,760
Speaker 2: the spring and into the summer. That could work out

449
00:30:56,360 --> 00:31:00,680
Speaker 2: very very well for Republican chances in the mid terms

450
00:31:00,880 --> 00:31:03,920
Speaker 2: next November. A lot of things can happen between now

451
00:31:03,960 --> 00:31:07,440
Speaker 2: and then. They're going to pull another Wuhan flu. I'm

452
00:31:07,520 --> 00:31:11,440
Speaker 2: certain of it. I see it coming. I'm without a

453
00:31:11,480 --> 00:31:14,480
Speaker 2: doubt they're going to do it. They're going to try

454
00:31:14,520 --> 00:31:17,520
Speaker 2: to bring back paper balloting, they're going to accuse Trump

455
00:31:17,600 --> 00:31:19,880
Speaker 2: of everything, they're going to try to kill him again.

456
00:31:20,040 --> 00:31:23,680
Speaker 2: I'm certain of all of those, but I am bullish

457
00:31:24,520 --> 00:31:25,840
Speaker 2: bullish to where we are