1
00:00:01,360 --> 00:00:03,640
Speaker 1: This episode is brought to you by P and C Bank.

2
00:00:04,000 --> 00:00:06,760
Speaker 1: A lot of people think podcasts about work are boring,

3
00:00:07,000 --> 00:00:10,840
Speaker 1: and sure they definitely can be, but understanding a professionals

4
00:00:10,920 --> 00:00:14,160
Speaker 1: routine shows us how they achieve their success little by little,

5
00:00:14,560 --> 00:00:18,200
Speaker 1: day after day. It's like banking with P and C Bank.

6
00:00:18,680 --> 00:00:21,480
Speaker 1: It might seem boring to safe plan and make calculated

7
00:00:21,480 --> 00:00:24,599
Speaker 1: decisions with your bank, but keeping your money boring is

8
00:00:24,640 --> 00:00:27,960
Speaker 1: what helps you live or more happily fulfilled life. P

9
00:00:28,080 --> 00:00:32,879
Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

10
00:00:32,960 --> 00:00:35,600
Speaker 1: Boring since eighteen sixty five is a service mark of

11
00:00:35,600 --> 00:00:38,840
Speaker 1: the PNC Financial Service Group, Inc. P and C Bank

12
00:00:39,280 --> 00:00:42,000
Speaker 1: National Association Member FDIC.

13
00:00:44,600 --> 00:00:45,279
Speaker 2: Erness What's Up?

14
00:00:45,360 --> 00:00:47,839
Speaker 1: You ever walk into a small business and everything just

15
00:00:47,960 --> 00:00:51,159
Speaker 1: works like the checkout is fast, the receipts are digital,

16
00:00:51,680 --> 00:00:54,640
Speaker 1: tipping is a breeze, and you're out the door before

17
00:00:54,680 --> 00:00:58,840
Speaker 1: the line even builds. Odds are they're using Square? We

18
00:00:58,960 --> 00:01:01,320
Speaker 1: love supporting business is that run on Square because it

19
00:01:01,440 --> 00:01:04,399
Speaker 1: just feels seamless. Whether it's a local coffee shop, a

20
00:01:04,480 --> 00:01:07,000
Speaker 1: vendor at a pop up market, or even one of.

21
00:01:06,920 --> 00:01:07,960
Speaker 2: Our merch partners.

22
00:01:08,200 --> 00:01:12,000
Speaker 1: Square makes it easy for them to take payments, manage inventory,

23
00:01:12,080 --> 00:01:15,960
Speaker 1: and run their business with confidence, all from one simple system.

24
00:01:16,440 --> 00:01:19,039
Speaker 1: If you're a business owner or even just thinking about

25
00:01:19,120 --> 00:01:22,200
Speaker 1: launching something soon, Square is hands down one of the

26
00:01:22,240 --> 00:01:25,680
Speaker 1: best tools out there to help you start, run, and grow.

27
00:01:25,959 --> 00:01:28,959
Speaker 1: It's not just about payments, it's about giving you time

28
00:01:29,040 --> 00:01:32,000
Speaker 1: back so you can focus on what matters most ready.

29
00:01:32,040 --> 00:01:35,399
Speaker 1: To see how Square can transform your business, visit Square

30
00:01:35,480 --> 00:01:40,000
Speaker 1: dot com backslash go backslash eyl to learn more that

31
00:01:40,200 --> 00:01:45,640
Speaker 1: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.

32
00:01:45,760 --> 00:01:48,160
Speaker 1: Let's Square handle the back end so you can keep

33
00:01:48,160 --> 00:01:56,200
Speaker 1: pushing your vision forward. Ladies and gentlemen, Good evening, Happy

34
00:01:56,240 --> 00:02:00,200
Speaker 1: Thursday and Thursday. Yes, yes, yes, yes, it's uh. It's

35
00:02:00,200 --> 00:02:01,720
Speaker 1: been a hell of a day. It's been a hell

36
00:02:01,720 --> 00:02:05,160
Speaker 1: of a day. Shout out to everybody here in the chat. Alicia,

37
00:02:05,280 --> 00:02:08,160
Speaker 1: what's going on? You said you are a newbie. Welcome

38
00:02:08,200 --> 00:02:10,240
Speaker 1: to the family. Welcome to the family. We're gonna have

39
00:02:10,280 --> 00:02:15,200
Speaker 1: some some insightful conversations tonight, because where else would you

40
00:02:15,240 --> 00:02:16,720
Speaker 1: go to get insightful conversations.

41
00:02:17,000 --> 00:02:17,640
Speaker 2: That's a fact.

42
00:02:18,000 --> 00:02:21,080
Speaker 3: Thank you for trusting us. That's a fact. That's a fact.

43
00:02:21,639 --> 00:02:22,160
Speaker 2: We're going to let.

44
00:02:22,120 --> 00:02:24,320
Speaker 3: Everybody get in here, let the family get in here.

45
00:02:24,360 --> 00:02:28,239
Speaker 1: We're gonna have a spirited conversation because there's a lot

46
00:02:28,280 --> 00:02:31,560
Speaker 1: going on, and there's a lot to be explained, and

47
00:02:31,560 --> 00:02:34,720
Speaker 1: there's a lot of confusion, a lot of anks, a

48
00:02:34,720 --> 00:02:38,440
Speaker 1: lot of uncertainty, and so hopefully we can offer some clarity,

49
00:02:39,720 --> 00:02:44,320
Speaker 1: some concise information that you can take with you tomorrow

50
00:02:44,400 --> 00:02:45,160
Speaker 1: and going forward.

51
00:02:45,520 --> 00:02:47,080
Speaker 3: So that's what our job is here tonight.

52
00:02:47,680 --> 00:02:54,320
Speaker 2: This is e y State of Emergency Special edition for sure.

53
00:02:54,400 --> 00:02:57,400
Speaker 2: For sure, so this is live. This is live, so

54
00:02:57,440 --> 00:03:02,639
Speaker 2: we could definitely answer some questions here. This was Yeah,

55
00:03:02,680 --> 00:03:04,960
Speaker 2: we wasn't expecting to go live. It wasn't expecting to

56
00:03:04,960 --> 00:03:09,640
Speaker 2: have an episode this week, but what everything that's going on,

57
00:03:09,800 --> 00:03:14,440
Speaker 2: felt that it was very timely and very important because

58
00:03:15,240 --> 00:03:16,800
Speaker 2: I'm sure a lot of people lost a lot of

59
00:03:16,800 --> 00:03:22,160
Speaker 2: money today in their in their portfolios, and there's a

60
00:03:22,200 --> 00:03:25,680
Speaker 2: lot of people that's nervous about different things. So we

61
00:03:25,760 --> 00:03:28,600
Speaker 2: are going to provide you with a bunch of information.

62
00:03:28,800 --> 00:03:33,639
Speaker 2: But before we start, ah man, this is more timely

63
00:03:33,680 --> 00:03:39,040
Speaker 2: than ever invest fst. Yeah, this year is gonna be interesting. Yeah,

64
00:03:39,080 --> 00:03:42,240
Speaker 2: for sure. The information and the relationships. The only thing

65
00:03:42,240 --> 00:03:43,960
Speaker 2: that's gonna save you in this world. Get your tickets

66
00:03:44,000 --> 00:03:47,160
Speaker 2: to invest Fast Investfest dot com the holy grail when

67
00:03:47,160 --> 00:03:51,240
Speaker 2: it comes to networking and business and entrepreneurship. August twenty second,

68
00:03:51,240 --> 00:03:53,960
Speaker 2: in Atlanta, Judgia, and don't forget the book. You deserve

69
00:03:54,040 --> 00:03:56,120
Speaker 2: to be rich. This is exactly why you deserve it.

70
00:03:56,200 --> 00:04:02,760
Speaker 2: Also very timely. Yeah, so okay, I have opinions about this,

71
00:04:03,160 --> 00:04:05,840
Speaker 2: So we're gonna bring We're gonna bring some very esteemed

72
00:04:05,960 --> 00:04:08,800
Speaker 2: guests on any minute Friends of the show for sure, yep.

73
00:04:09,000 --> 00:04:12,720
Speaker 2: But before we start, I want to just you know,

74
00:04:13,640 --> 00:04:18,440
Speaker 2: say that I told you.

75
00:04:18,480 --> 00:04:22,840
Speaker 1: So that's what you're starting, all right? Which part? Which

76
00:04:22,880 --> 00:04:24,960
Speaker 1: part did you tell him? Let's start there.

77
00:04:25,480 --> 00:04:30,839
Speaker 2: Well, I said that mass deportation would lead to an

78
00:04:30,839 --> 00:04:35,920
Speaker 2: increase in home prices. And the New York Times actually

79
00:04:36,000 --> 00:04:40,320
Speaker 2: just published an article two days ago about the increasing

80
00:04:40,360 --> 00:04:45,120
Speaker 2: home prices because of mass deportation. They said one guy,

81
00:04:44,960 --> 00:04:47,120
Speaker 2: they had, one guy in particularly, his home was his

82
00:04:47,279 --> 00:04:50,160
Speaker 2: home build. The new home build was going up two

83
00:04:50,240 --> 00:04:55,960
Speaker 2: hundred thousand dollars because of labor. Labor, that's an issue.

84
00:04:56,080 --> 00:04:59,200
Speaker 2: That's one thing I told you about supply is The

85
00:04:59,240 --> 00:05:01,520
Speaker 2: next thing that I I said is that tarris is

86
00:05:01,560 --> 00:05:06,240
Speaker 2: not a good idea. Mass scale tariffs is not a

87
00:05:06,240 --> 00:05:09,960
Speaker 2: good idea. So I think it's important to understand why

88
00:05:10,000 --> 00:05:13,120
Speaker 2: I think that. But it's just my opinion. But I mean,

89
00:05:13,200 --> 00:05:15,479
Speaker 2: we lost one point six trillion dollars in the stock

90
00:05:15,520 --> 00:05:17,640
Speaker 2: market today in the day. I guess a few other

91
00:05:17,680 --> 00:05:18,960
Speaker 2: people feel that same way, but.

92
00:05:19,279 --> 00:05:21,039
Speaker 3: I think most economists felt that way.

93
00:05:21,600 --> 00:05:24,159
Speaker 1: Right, Like if you if you watched and you studied

94
00:05:24,160 --> 00:05:28,760
Speaker 1: economists what they've been saying even pre election, right when

95
00:05:28,760 --> 00:05:30,560
Speaker 1: they were looking at economic plans and they were saying

96
00:05:30,560 --> 00:05:32,920
Speaker 1: tariffs like twenty nine out of thirty. I think some

97
00:05:33,240 --> 00:05:36,960
Speaker 1: percentage like that were like, mass tariffs are a bad idea.

98
00:05:37,520 --> 00:05:38,960
Speaker 2: Even dan Obs yesterday.

99
00:05:38,720 --> 00:05:41,960
Speaker 1: Were saying, like after the rollout, this is worse than

100
00:05:42,000 --> 00:05:42,880
Speaker 1: the worst case scenario.

101
00:05:43,520 --> 00:05:46,480
Speaker 2: Well, another thing I think is interesting is that there's

102
00:05:46,560 --> 00:05:49,680
Speaker 2: really no rhyme or reason to this situation, Like even

103
00:05:49,720 --> 00:05:54,479
Speaker 2: the explanation of how they decided the formula for the taroffs. No,

104
00:05:54,560 --> 00:05:55,880
Speaker 2: we're still trying to figure that part out.

105
00:05:55,880 --> 00:05:57,479
Speaker 1: I looked it up. I looked it up. It's like

106
00:05:57,520 --> 00:06:00,320
Speaker 1: some math equations. The New York Times put it in uh

107
00:06:00,560 --> 00:06:04,880
Speaker 1: in the publication. Even that doesn't the equation doesn't make sense.

108
00:06:05,040 --> 00:06:06,600
Speaker 1: I think the clearest way they're trying to say is

109
00:06:06,640 --> 00:06:09,360
Speaker 1: that whatever they're that the United States is being charge,

110
00:06:09,640 --> 00:06:13,600
Speaker 1: they're gonna give a reciprocal a tariff of half of that.

111
00:06:13,640 --> 00:06:15,720
Speaker 2: But that's not the case though, I know. And so

112
00:06:15,760 --> 00:06:17,279
Speaker 2: they just made up a random They just made up

113
00:06:17,360 --> 00:06:20,480
Speaker 2: random numbers and threw it at the board. I got

114
00:06:20,520 --> 00:06:22,920
Speaker 2: the border here the board. Let's put it up. Let's

115
00:06:22,920 --> 00:06:27,000
Speaker 2: put the board up. Let's put the board up. Yeah.

116
00:06:27,040 --> 00:06:29,280
Speaker 2: So I mean just look at Japan, right, I mean

117
00:06:29,440 --> 00:06:37,520
Speaker 2: forty six, So twenty four is not fifty forty six, right,

118
00:06:37,680 --> 00:06:40,240
Speaker 2: So it's just a bunch of random like we're in.

119
00:06:40,320 --> 00:06:43,000
Speaker 2: Colombia is ten to ten. So some countries they matched,

120
00:06:43,080 --> 00:06:46,760
Speaker 2: even some countries they did fifty. Some countries they did thirty.

121
00:06:47,120 --> 00:06:51,280
Speaker 2: Some countries. There's really no set rhyme or reason behind

122
00:06:51,440 --> 00:06:57,600
Speaker 2: how they actually got these tariffs. Vietnam ninety. Okay. What

123
00:06:58,040 --> 00:07:02,000
Speaker 2: I also said earlier on social media was that you know,

124
00:07:02,160 --> 00:07:06,520
Speaker 2: a lot of people Trump's thing is that it's retaliatory,

125
00:07:07,400 --> 00:07:10,480
Speaker 2: and they tax us, they have tariffs on us. So

126
00:07:10,520 --> 00:07:13,040
Speaker 2: I think it's important to actually have some level of understanding.

127
00:07:13,080 --> 00:07:14,760
Speaker 2: I said this on social media, but a lot of

128
00:07:14,800 --> 00:07:16,840
Speaker 2: these terrifts was put in place after World War Two

129
00:07:17,160 --> 00:07:20,280
Speaker 2: when we were trying to actually help rebuild the world really,

130
00:07:20,320 --> 00:07:23,640
Speaker 2: but especially these Asian countries. That was I mean, they

131
00:07:23,760 --> 00:07:26,800
Speaker 2: was damned and devastated tremendously from the war, right, so

132
00:07:26,840 --> 00:07:32,880
Speaker 2: that was a way. But America has the largest spending

133
00:07:33,000 --> 00:07:35,560
Speaker 2: economy in the history of the world in so far economy,

134
00:07:36,920 --> 00:07:42,920
Speaker 2: and the amount of money that we actually spend on

135
00:07:43,520 --> 00:07:47,880
Speaker 2: exports far exceeds the amount that we The amount of

136
00:07:47,880 --> 00:07:49,760
Speaker 2: money that we spent on imports far seas the amount

137
00:07:49,800 --> 00:07:51,680
Speaker 2: that we spent on exports. So we spent three point

138
00:07:51,760 --> 00:07:56,880
Speaker 2: two trillion dollars on exports, but around two trillion on

139
00:07:58,160 --> 00:08:02,240
Speaker 2: exports three point two one imports, two trillion on exports,

140
00:08:02,400 --> 00:08:06,880
Speaker 2: so that leaves a one point one trillion dollar deficit.

141
00:08:07,240 --> 00:08:09,960
Speaker 2: So the idea of like an i Fouri is not

142
00:08:10,120 --> 00:08:17,080
Speaker 2: really a relevant conversation because we spend so much more

143
00:08:18,000 --> 00:08:22,720
Speaker 2: on exports on imports, and that's everything from cars to fabrics,

144
00:08:22,800 --> 00:08:27,240
Speaker 2: to furnitures, to games, you name it. The biggest continent

145
00:08:27,400 --> 00:08:32,640
Speaker 2: that we that we import products from is Asia. China

146
00:08:32,679 --> 00:08:34,439
Speaker 2: is the number one country, and then after that it's

147
00:08:34,440 --> 00:08:38,960
Speaker 2: North America with Canada, and Mexico. So what ends up

148
00:08:39,040 --> 00:08:42,640
Speaker 2: happening is that when you have tariffs. Let's say it's

149
00:08:42,679 --> 00:08:46,480
Speaker 2: a board game that's coming from Vietnam and Walmart is

150
00:08:46,480 --> 00:08:50,160
Speaker 2: carrying it, so Vietnam doesn't pay more money, but what

151
00:08:50,280 --> 00:08:52,880
Speaker 2: happens is that Walmart is gonna have to pay more money.

152
00:08:52,960 --> 00:08:55,880
Speaker 1: I think that is the confusion, and because that's been

153
00:08:55,920 --> 00:08:58,079
Speaker 1: the message throughout the campaign, is that it's a tax

154
00:08:58,160 --> 00:09:00,200
Speaker 1: on the country. It's a tax on the country. Set

155
00:09:00,240 --> 00:09:03,240
Speaker 1: a tax, a tax on the country. People believe that

156
00:09:03,400 --> 00:09:06,160
Speaker 1: a tariff is a tax on the country. What a

157
00:09:06,600 --> 00:09:08,640
Speaker 1: tariff is is kind of what you're explaining right, Like,

158
00:09:08,960 --> 00:09:11,520
Speaker 1: it won't be up to the country, It'll be on

159
00:09:11,600 --> 00:09:13,680
Speaker 1: the person that is receiving the import.

160
00:09:13,400 --> 00:09:15,480
Speaker 2: The person that buys the products from the country.

161
00:09:15,720 --> 00:09:15,880
Speaker 1: Thing.

162
00:09:16,080 --> 00:09:19,080
Speaker 2: So then okay, so if a board game goes from

163
00:09:19,200 --> 00:09:21,320
Speaker 2: ten dollars to twelve dollars, that they have to buy it.

164
00:09:21,400 --> 00:09:23,400
Speaker 2: Now they're going to have to sell it. It's not

165
00:09:23,440 --> 00:09:25,840
Speaker 2: going to be eighteen dollars, is going to be twenty

166
00:09:25,880 --> 00:09:28,120
Speaker 2: two dollars when they sell it. Yeah, so that's why

167
00:09:28,120 --> 00:09:31,200
Speaker 2: everything is going to go up because it's going to

168
00:09:31,280 --> 00:09:33,880
Speaker 2: cost more money. Now, another thing that let.

169
00:09:34,240 --> 00:09:36,040
Speaker 1: Me just touch on that so to like even make

170
00:09:36,080 --> 00:09:39,560
Speaker 1: it more clear for you. Right, let's use the Walmart example.

171
00:09:39,920 --> 00:09:42,920
Speaker 1: Let's use the board game for example. That tariff that

172
00:09:43,000 --> 00:09:45,559
Speaker 1: comes with the board game, Right, Walmart is going to

173
00:09:45,720 --> 00:09:47,839
Speaker 1: have to do have a choice here, Right, They're either

174
00:09:47,880 --> 00:09:50,160
Speaker 1: going to say, we're going to pay this tariff whatever

175
00:09:50,160 --> 00:09:52,400
Speaker 1: the percentage is, or we're not.

176
00:09:52,320 --> 00:09:54,000
Speaker 3: Going to pay this tariff. And you know who's going

177
00:09:54,040 --> 00:09:56,040
Speaker 3: to pay it, our customers.

178
00:09:56,240 --> 00:09:59,200
Speaker 1: And so when they put that price inside of whatever

179
00:09:59,200 --> 00:10:01,160
Speaker 1: the product is, you pay more.

180
00:10:01,360 --> 00:10:03,679
Speaker 2: Yeah, but they still even if they pay it, they're

181
00:10:03,679 --> 00:10:06,440
Speaker 2: still going to pay what I'm saying they have Walmart

182
00:10:06,480 --> 00:10:08,960
Speaker 2: has to pay it, but the cost is going to

183
00:10:08,960 --> 00:10:11,719
Speaker 2: be built into the product, which now the product pays more.

184
00:10:11,760 --> 00:10:14,600
Speaker 2: So so then another theory is that, Okay, well this

185
00:10:14,760 --> 00:10:19,440
Speaker 2: is going to force jobs back to America. Now, on theory,

186
00:10:19,800 --> 00:10:22,959
Speaker 2: that's not That's not a bad theory. I want to

187
00:10:23,000 --> 00:10:25,679
Speaker 2: be non biased about this conversation. It's not a bad

188
00:10:25,720 --> 00:10:30,240
Speaker 2: theory because we we we have outsourced manufacturing for decades

189
00:10:30,400 --> 00:10:33,800
Speaker 2: and we are dependent on other countries and that that

190
00:10:33,840 --> 00:10:37,280
Speaker 2: could lead to problems. Now, but the problem with this

191
00:10:37,840 --> 00:10:41,000
Speaker 2: theory is that it's going obviously it's going to take

192
00:10:41,040 --> 00:10:44,800
Speaker 2: a long time. You just can't build seven hundred factories

193
00:10:44,840 --> 00:10:46,360
Speaker 2: in one month, right, So it's going to take a

194
00:10:46,360 --> 00:10:48,640
Speaker 2: long time to actually build these factories. But it's the

195
00:10:48,679 --> 00:10:51,319
Speaker 2: first problem. That's the first problem. So there's going to

196
00:10:51,360 --> 00:10:54,160
Speaker 2: be paying in that in that process. The second problem

197
00:10:54,559 --> 00:10:58,160
Speaker 2: is that the labor. So I put it on Instagram,

198
00:10:58,360 --> 00:11:00,760
Speaker 2: the price that it costs to build a car per

199
00:11:00,840 --> 00:11:05,440
Speaker 2: worker in America is seventy dollars. The price that it

200
00:11:05,559 --> 00:11:09,040
Speaker 2: costs in Mexico is like six dollars an hour. So

201
00:11:09,400 --> 00:11:11,600
Speaker 2: if you have to pay work, that's why the prices

202
00:11:11,600 --> 00:11:15,920
Speaker 2: of houses are going up, because the amount of money

203
00:11:15,920 --> 00:11:19,320
Speaker 2: that you can pay an undocumented immigrant is a lot

204
00:11:19,440 --> 00:11:21,520
Speaker 2: lower than the amount of money that you would have

205
00:11:21,520 --> 00:11:24,040
Speaker 2: to pay a union construction worker. I'm not saying what's

206
00:11:24,080 --> 00:11:28,200
Speaker 2: right or wrong, right, that's not the base of this conversation.

207
00:11:28,240 --> 00:11:30,719
Speaker 2: I'm just saying that's just the actual fact. So if

208
00:11:30,760 --> 00:11:33,000
Speaker 2: you have to pay somebody more money, once again, what

209
00:11:33,080 --> 00:11:34,679
Speaker 2: do you think that that cost is going to go.

210
00:11:34,760 --> 00:11:36,960
Speaker 2: That's going to go to the consumer because it's going

211
00:11:37,040 --> 00:11:39,240
Speaker 2: to cost more money to get the job done. Another

212
00:11:39,280 --> 00:11:41,760
Speaker 2: thing like using the auto industry as an example, but

213
00:11:41,840 --> 00:11:45,800
Speaker 2: this is true to any Like there's companies now that

214
00:11:45,840 --> 00:11:49,240
Speaker 2: make products in America, auto companies. There's no auto company

215
00:11:49,240 --> 00:11:52,880
Speaker 2: that makes products in America that does not ship and

216
00:11:52,960 --> 00:11:55,760
Speaker 2: receive products from overseas to build the car. So when

217
00:11:55,800 --> 00:11:57,320
Speaker 2: you build the car, you have to get an engine,

218
00:11:57,400 --> 00:12:00,640
Speaker 2: you have to get a variety of different compacts. Those

219
00:12:00,679 --> 00:12:04,800
Speaker 2: parts come from overseas. So now if you put tariffs

220
00:12:04,800 --> 00:12:06,400
Speaker 2: on those parts, it's still going to raise the course

221
00:12:06,440 --> 00:12:08,840
Speaker 2: of the car and a variety of the different things.

222
00:12:08,840 --> 00:12:10,880
Speaker 2: So it's like, okay, well, why can't we get cheap

223
00:12:10,920 --> 00:12:15,640
Speaker 2: parts made in America. Well, it's it's a pretty complicated problem,

224
00:12:15,720 --> 00:12:19,200
Speaker 2: right because well that goes back to the labor as well.

225
00:12:19,760 --> 00:12:22,480
Speaker 2: That goes back to actually having the facilities to actually

226
00:12:22,520 --> 00:12:24,680
Speaker 2: do it. There's a variety of different things that we've

227
00:12:24,720 --> 00:12:30,120
Speaker 2: outsourced and we don't have Let's just be honest, we

228
00:12:30,200 --> 00:12:35,439
Speaker 2: don't have a labor force that is built to build iPhones.

229
00:12:35,480 --> 00:12:37,600
Speaker 2: Like nobody wants that's nobody wants to sit in a

230
00:12:37,720 --> 00:12:40,280
Speaker 2: tech sweatshop for twelve hours a day.

231
00:12:40,480 --> 00:12:42,240
Speaker 1: Is yeah, this is not right around. This is just

232
00:12:42,640 --> 00:12:46,440
Speaker 1: literally what's happening. And I saw the statistic, it was like,

233
00:12:46,480 --> 00:12:50,600
Speaker 1: this makes perfect sense. Right, we let with yes, we

234
00:12:50,720 --> 00:12:53,560
Speaker 1: are the number one consumer nation. Right, our GDP is

235
00:12:53,960 --> 00:12:58,240
Speaker 1: twenty percent, right of the world's In twenty percent of

236
00:12:58,240 --> 00:13:01,360
Speaker 1: the world's GDP belongs the United States. Right, we have

237
00:13:01,520 --> 00:13:04,880
Speaker 1: five percent of the world's population, which means that we're

238
00:13:04,920 --> 00:13:07,720
Speaker 1: always going to fall short on labor. The other part

239
00:13:07,760 --> 00:13:10,040
Speaker 1: is that when we have the labor, we can't afford

240
00:13:10,080 --> 00:13:12,360
Speaker 1: to pay the labor. Right, So this is why you

241
00:13:12,480 --> 00:13:15,679
Speaker 1: outsource jobs. Look at a company like Apple for example,

242
00:13:15,679 --> 00:13:20,920
Speaker 1: today right had its worst day since the COVID pandemic started.

243
00:13:21,360 --> 00:13:24,920
Speaker 1: Why Well, a lot of the factories and a lot

244
00:13:24,920 --> 00:13:28,400
Speaker 1: of the products that they manufacture come from China. If

245
00:13:28,400 --> 00:13:30,679
Speaker 1: you're going to put that heavy of attax on China,

246
00:13:30,760 --> 00:13:33,120
Speaker 1: what do you think is going to happen into a.

247
00:13:33,040 --> 00:13:34,560
Speaker 2: Company like Apple's products?

248
00:13:34,720 --> 00:13:37,640
Speaker 1: Right, That nine hundred dollars phone is now going to

249
00:13:37,679 --> 00:13:40,840
Speaker 1: be fifteen seventeen.

250
00:13:43,559 --> 00:13:45,960
Speaker 2: And then and then it's also a thing. By the

251
00:13:45,960 --> 00:13:49,439
Speaker 2: time they build the factories, AI's robots are going to

252
00:13:49,480 --> 00:13:52,960
Speaker 2: be doing the jobs anyway that's cost effective. But that's

253
00:13:52,960 --> 00:13:55,959
Speaker 2: not helpful as far as getting American jobs. These jobs

254
00:13:55,960 --> 00:13:59,400
Speaker 2: are not coming back to America because they're not they're outdated. Anyway.

255
00:14:00,040 --> 00:14:02,400
Speaker 2: Eventually these jobs are not even gonna be done by

256
00:14:02,440 --> 00:14:06,120
Speaker 2: human beings anyway. So to have a long term trajectory

257
00:14:06,240 --> 00:14:10,960
Speaker 2: on a short term job, it's not sustainable, Like human

258
00:14:11,000 --> 00:14:13,480
Speaker 2: beings are not going to be manufacturing cars for too

259
00:14:13,559 --> 00:14:16,520
Speaker 2: much longer. It doesn't make sense cars when you tail product,

260
00:14:16,520 --> 00:14:19,560
Speaker 2: when you can have a robot do it, why would

261
00:14:19,600 --> 00:14:22,040
Speaker 2: you have a human do it? So there's this bright side.

262
00:14:22,040 --> 00:14:25,600
Speaker 1: And while I'm watching all this knowing that, it's like, well,

263
00:14:25,800 --> 00:14:27,720
Speaker 1: if it's going to be roboties, it's going to be

264
00:14:27,760 --> 00:14:30,240
Speaker 1: a gentist. Well we've already been speaking about that, right,

265
00:14:30,280 --> 00:14:32,360
Speaker 1: So the bright side is, yes, this pain right now,

266
00:14:32,560 --> 00:14:33,840
Speaker 1: but we can see what the future is at it.

267
00:14:34,320 --> 00:14:36,240
Speaker 3: Right, we can kind of see like there's not going

268
00:14:36,320 --> 00:14:37,560
Speaker 3: to be a human doing those jobs.

269
00:14:37,600 --> 00:14:40,200
Speaker 1: Right, whether you're talking about Apple, you're talking about Nike,

270
00:14:40,360 --> 00:14:43,720
Speaker 1: you're talking about Walmart from a retail or a good side,

271
00:14:44,040 --> 00:14:45,920
Speaker 1: those jobs are going to be done by robotics. We

272
00:14:45,960 --> 00:14:48,640
Speaker 1: can agree on that. Yeah, go forward, and it's more

273
00:14:48,680 --> 00:14:50,920
Speaker 1: cost effective to do that. So if we think about

274
00:14:51,000 --> 00:14:52,720
Speaker 1: who's gonna pay for the labor, well, if we have

275
00:14:52,840 --> 00:14:56,880
Speaker 1: machines doing the labor, then that labor course is gonna

276
00:14:56,920 --> 00:14:57,320
Speaker 1: go down.

277
00:14:57,680 --> 00:15:00,560
Speaker 2: The labor course goes down, but the unemployment. So there

278
00:15:00,600 --> 00:15:02,520
Speaker 2: we go. The number one thing is like, we're going

279
00:15:02,560 --> 00:15:05,680
Speaker 2: to bring jobs back to America. Well that's not really

280
00:15:05,720 --> 00:15:09,240
Speaker 2: bringing jobs back. If robots are assembling iPhones and robots

281
00:15:09,240 --> 00:15:14,760
Speaker 2: are assembling cars, where's the jobs? Okay, Okay, Well let's

282
00:15:16,240 --> 00:15:19,600
Speaker 2: since sometimes people need to hear it from other points

283
00:15:19,640 --> 00:15:22,960
Speaker 2: of view, So we're going to bring our friend, the

284
00:15:23,080 --> 00:15:27,400
Speaker 2: NBC corresponding and host Frank Collin.

285
00:15:29,440 --> 00:15:30,640
Speaker 4: What's up, what's going on?

286
00:15:31,000 --> 00:15:31,560
Speaker 2: What's going on?

287
00:15:31,800 --> 00:15:32,240
Speaker 3: What's up?

288
00:15:32,280 --> 00:15:32,600
Speaker 2: Man?

289
00:15:32,920 --> 00:15:34,880
Speaker 5: Man honored a pleasure to be back with It's not

290
00:15:34,920 --> 00:15:36,440
Speaker 5: market Monday's Market Thursdays.

291
00:15:36,440 --> 00:15:38,960
Speaker 4: I guess you know, terror special, but it's really a

292
00:15:38,960 --> 00:15:39,320
Speaker 4: pleasure to.

293
00:15:41,480 --> 00:15:43,880
Speaker 5: Always like listening to these conversations you guys have, especially

294
00:15:43,880 --> 00:15:45,280
Speaker 5: when you kick off the show, because it just kind

295
00:15:45,320 --> 00:15:46,920
Speaker 5: of gives everybody an insight of what you guys are

296
00:15:46,920 --> 00:15:48,160
Speaker 5: thinking about, what's on your mind.

297
00:15:48,480 --> 00:15:50,920
Speaker 1: For sure, I appreciate that. And shout shout out to Ian.

298
00:15:50,920 --> 00:15:52,360
Speaker 1: I know a lot of people in the chat. Ian

299
00:15:52,440 --> 00:15:54,560
Speaker 1: is actually in the chat, y'all, so like you're asking

300
00:15:54,600 --> 00:15:55,880
Speaker 1: for him, he's in the chat.

301
00:15:55,600 --> 00:15:58,120
Speaker 2: Shout out to salute.

302
00:15:59,000 --> 00:16:01,200
Speaker 4: Okay, So yeah, that it was up to end man,

303
00:16:01,320 --> 00:16:03,240
Speaker 4: tell you what's up, don't get me up.

304
00:16:03,640 --> 00:16:07,560
Speaker 2: So, Frank, you work on you work at CNBC.

305
00:16:07,680 --> 00:16:08,920
Speaker 4: Right, So.

306
00:16:10,840 --> 00:16:14,400
Speaker 2: Okay. Sometimes people might think that I'm a little biased,

307
00:16:14,840 --> 00:16:16,920
Speaker 2: but I would like, I'm sure anymore.

308
00:16:17,080 --> 00:16:19,080
Speaker 1: I'm reading the comments, Like for the first time I

309
00:16:19,120 --> 00:16:21,560
Speaker 1: read comments and it was like, this is what you

310
00:16:21,640 --> 00:16:23,160
Speaker 1: asked for or they're like you.

311
00:16:23,120 --> 00:16:24,880
Speaker 3: Were a dem I'm like, what side do they think

312
00:16:24,880 --> 00:16:25,080
Speaker 3: you on?

313
00:16:25,200 --> 00:16:28,240
Speaker 1: At this point, It's mixed signals out there.

314
00:16:29,360 --> 00:16:30,200
Speaker 2: I'm on everybody.

315
00:16:32,160 --> 00:16:34,480
Speaker 4: I'm on the side recession.

316
00:16:34,760 --> 00:16:37,520
Speaker 2: I'm on the side we were on the side of

317
00:16:37,600 --> 00:16:42,840
Speaker 2: the Green Party there. When I say Green party, that president, Yes,

318
00:16:43,120 --> 00:16:46,760
Speaker 2: for sure. So Frank, you're.

319
00:16:46,680 --> 00:16:49,400
Speaker 3: Kind of listening to some of the conversation, right, Absolutely,

320
00:16:49,680 --> 00:16:50,880
Speaker 3: you brought up the R word.

321
00:16:51,280 --> 00:16:52,880
Speaker 1: I didn't want to bring it up, but based on

322
00:16:52,920 --> 00:16:56,360
Speaker 1: the things we're saying, the TV's are kind of pointing

323
00:16:56,400 --> 00:16:57,040
Speaker 1: to it that No.

324
00:16:58,080 --> 00:17:00,960
Speaker 5: I mean, it's it's definitely I kind of tenuous situation.

325
00:17:01,080 --> 00:17:02,600
Speaker 5: I mean we also what happened on the markets today.

326
00:17:02,600 --> 00:17:05,359
Speaker 5: I think the Dow drop was sixteen hundred points. Huge

327
00:17:05,440 --> 00:17:08,040
Speaker 5: drops for tech, huge drops are just about every part

328
00:17:08,080 --> 00:17:09,600
Speaker 5: of the market. But I want to go back to

329
00:17:09,600 --> 00:17:11,680
Speaker 5: what you guys were talking about about the terror formula,

330
00:17:11,760 --> 00:17:13,360
Speaker 5: and I think that has a lot of people scratching

331
00:17:13,359 --> 00:17:16,560
Speaker 5: their head. I would imagine some other countries scratching their head.

332
00:17:16,760 --> 00:17:20,239
Speaker 5: The Trump administration did say that they're doing reciprocal terror. Well,

333
00:17:20,280 --> 00:17:22,159
Speaker 5: first off, that ten percent across the board tariff and

334
00:17:22,200 --> 00:17:25,240
Speaker 5: reciprocal tariffs, but they said they have their own formula.

335
00:17:25,280 --> 00:17:27,399
Speaker 5: So some of it's based on what other countries charge us,

336
00:17:27,440 --> 00:17:29,200
Speaker 5: and then some of it's based on what they say

337
00:17:29,480 --> 00:17:32,400
Speaker 5: are non tariff barriers like bad taxes and stuff like that.

338
00:17:33,119 --> 00:17:34,960
Speaker 5: Ian Bremmer really smart guy when it comes in the

339
00:17:35,080 --> 00:17:37,120
Speaker 5: National things, president of e RASOR group.

340
00:17:37,119 --> 00:17:38,280
Speaker 4: I think he's the founder as well.

341
00:17:38,600 --> 00:17:40,920
Speaker 5: He put out a tweet basically saying that the Trump

342
00:17:40,960 --> 00:17:44,199
Speaker 5: administration they took the trade surplus with these country and

343
00:17:44,240 --> 00:17:46,000
Speaker 5: then divided it by the exports, and that's how they

344
00:17:46,040 --> 00:17:48,000
Speaker 5: came with the numbers, like for the EU, that's how

345
00:17:48,000 --> 00:17:50,679
Speaker 5: they came with thirty nine percent. So you know, he

346
00:17:50,760 --> 00:17:53,880
Speaker 5: was very critical of it, but I think doesn't matter

347
00:17:53,880 --> 00:17:55,679
Speaker 5: the formula right now, just the levels of it right

348
00:17:55,680 --> 00:17:59,200
Speaker 5: now are making things, you know, I think, making everybody

349
00:17:59,280 --> 00:18:01,960
Speaker 5: nervous across the world. So one of the the estimates

350
00:18:02,000 --> 00:18:04,480
Speaker 5: that I've been really leaning on is from Ernst and Young.

351
00:18:04,960 --> 00:18:07,920
Speaker 5: They see inflation going up one percent GDP going down

352
00:18:08,080 --> 00:18:10,359
Speaker 5: one percent in twenty twenty five. That's basically what a

353
00:18:10,359 --> 00:18:12,680
Speaker 5: lot of people call stackflation. That's prices going up but

354
00:18:12,760 --> 00:18:16,080
Speaker 5: growth going down. More than likely wages stay in flat.

355
00:18:16,119 --> 00:18:17,840
Speaker 5: And we all know when prices go up your wages

356
00:18:17,880 --> 00:18:20,560
Speaker 5: stay flat, Well, you're losing money essentially, and that's what

357
00:18:20,680 --> 00:18:22,480
Speaker 5: a lot of people talk about. When you talk about

358
00:18:22,520 --> 00:18:24,960
Speaker 5: investing in gold or bitcoin. You want to invest in

359
00:18:25,000 --> 00:18:26,720
Speaker 5: an appreciating asset, and a lot of people feel like

360
00:18:26,760 --> 00:18:29,960
Speaker 5: a dollar is actually a depreciating asset. So there is

361
00:18:30,000 --> 00:18:32,560
Speaker 5: a lot of danger going forward. Nobody wants to talk

362
00:18:32,560 --> 00:18:34,639
Speaker 5: about recession, but it's certainly one of the dangers. I

363
00:18:34,640 --> 00:18:37,240
Speaker 5: believe JP Morgan raised their estimate from twenty percent up

364
00:18:37,280 --> 00:18:40,240
Speaker 5: to thirty five percent. We're talking about a chance of recession.

365
00:18:40,240 --> 00:18:42,480
Speaker 5: I've talked to a lot of CEOs about this, and

366
00:18:42,480 --> 00:18:44,000
Speaker 5: a lot of them say, I just got to sit

367
00:18:44,040 --> 00:18:44,320
Speaker 5: still and.

368
00:18:44,359 --> 00:18:46,280
Speaker 4: To have more clarity, and I don't think we have

369
00:18:46,359 --> 00:18:47,360
Speaker 4: more clarity yet.

370
00:18:47,560 --> 00:18:49,880
Speaker 2: Well, that's what I wanted to ask you, because we're

371
00:18:49,880 --> 00:18:52,040
Speaker 2: going to make this a group discussion. We got another surprise.

372
00:18:52,119 --> 00:18:56,360
Speaker 2: But you talk to a lot of c oh right,

373
00:18:56,560 --> 00:18:58,480
Speaker 2: you talk to a lot of intelligent people, and you

374
00:18:58,520 --> 00:19:01,439
Speaker 2: talk to a lot of wealthy people. What is the

375
00:19:01,640 --> 00:19:06,280
Speaker 2: sentiment of those people that you're talking to?

376
00:19:07,480 --> 00:19:09,479
Speaker 5: Confusion man. And by the way, you guys are too

377
00:19:09,480 --> 00:19:12,000
Speaker 5: wealthy and smart guys I'll talk to. But confusion.

378
00:19:13,320 --> 00:19:18,160
Speaker 4: No, I'm not. I'm legend.

379
00:19:21,880 --> 00:19:23,520
Speaker 5: Just a lot of confusion. A lot of people aren't

380
00:19:23,560 --> 00:19:25,520
Speaker 5: quite sure how this is all going to play out.

381
00:19:25,600 --> 00:19:27,879
Speaker 5: Some of them are confused. Why why are we putting

382
00:19:27,920 --> 00:19:29,800
Speaker 5: tariffs on Canada? You know what I mean, our neighbor

383
00:19:29,840 --> 00:19:31,720
Speaker 5: to the north that we depend on. Why are we

384
00:19:31,720 --> 00:19:35,080
Speaker 5: putting these traffs on Mexico? We remember President Trump during

385
00:19:35,080 --> 00:19:37,960
Speaker 5: his first term, he's the one that negotiated the usmc A.

386
00:19:38,160 --> 00:19:41,560
Speaker 5: So the reason why some of these these goods are

387
00:19:41,600 --> 00:19:44,520
Speaker 5: moving back and forth is because he signed onto a

388
00:19:44,560 --> 00:19:48,360
Speaker 5: deal that incentivized companies to look at Canada, the United

389
00:19:48,400 --> 00:19:51,800
Speaker 5: States and Mexico is one block now the usmc A,

390
00:19:52,320 --> 00:19:54,919
Speaker 5: and to build in Mexico and to building Canada. So

391
00:19:55,280 --> 00:19:57,879
Speaker 5: that agreement incentivized a lot of them. One of the

392
00:19:57,880 --> 00:19:59,680
Speaker 5: prevalent things I'm hearing from a lot of CEOs is

393
00:19:59,720 --> 00:20:01,800
Speaker 5: that we've build our supply chain, we build our factories,

394
00:20:01,800 --> 00:20:05,280
Speaker 5: we build whatever we're building for decades. We're not building

395
00:20:05,560 --> 00:20:08,520
Speaker 5: for this administration. We're not building for the next four years.

396
00:20:08,760 --> 00:20:11,639
Speaker 5: So how do you make decade long decisions when you

397
00:20:11,720 --> 00:20:13,639
Speaker 5: know this person's going to be in the office for

398
00:20:13,680 --> 00:20:15,639
Speaker 5: four years and you don't know what the next person

399
00:20:15,680 --> 00:20:15,959
Speaker 5: may think.

400
00:20:15,960 --> 00:20:18,080
Speaker 4: They may have a totally different view on trade altogether?

401
00:20:19,760 --> 00:20:24,720
Speaker 1: This is an interesting time, right, So we talked about statflation, right,

402
00:20:26,240 --> 00:20:31,119
Speaker 1: inflationary environments that keeps coming up. Does this feel like

403
00:20:31,560 --> 00:20:34,320
Speaker 1: a negotiating tactic because we've been hearing that a lot

404
00:20:34,320 --> 00:20:36,720
Speaker 1: over the past couple of days. Is this negotiated tactic

405
00:20:36,840 --> 00:20:38,800
Speaker 1: to say, all right, let's get everybody to the table

406
00:20:39,040 --> 00:20:41,919
Speaker 1: so now we can finally figure out a tariff system

407
00:20:41,960 --> 00:20:45,040
Speaker 1: that works for us. I mean, it feels like a

408
00:20:45,040 --> 00:20:47,640
Speaker 1: waiting game in a sense where it's like we're gonna

409
00:20:47,640 --> 00:20:49,800
Speaker 1: feel some pain, and he's campaigned on that there's gonna

410
00:20:49,800 --> 00:20:50,560
Speaker 1: be short term pain.

411
00:20:50,880 --> 00:20:52,320
Speaker 3: We don't know how long short term is.

412
00:20:52,320 --> 00:20:56,359
Speaker 1: It could be relative, but eventually these countries will come

413
00:20:57,000 --> 00:21:00,399
Speaker 1: asking for a negotiation so that this can get settled

414
00:21:00,440 --> 00:21:01,879
Speaker 1: because uncertainty he doesn't help anyone.

415
00:21:01,880 --> 00:21:02,679
Speaker 2: Does it feel that way to you?

416
00:21:03,520 --> 00:21:05,560
Speaker 4: That's not the tone that I felt like the President

417
00:21:05,680 --> 00:21:06,080
Speaker 4: was striking.

418
00:21:06,160 --> 00:21:09,160
Speaker 5: He didn't seem like he was looking for deals or diplomacy,

419
00:21:09,280 --> 00:21:10,800
Speaker 5: at least that's what I took away from when he

420
00:21:10,840 --> 00:21:13,040
Speaker 5: was talking at the Rose Garden the other day. It

421
00:21:13,040 --> 00:21:14,520
Speaker 5: didn't sound like he wanted to make a deal. It

422
00:21:14,520 --> 00:21:16,400
Speaker 5: didn't sound like he wanted to be diplomatic. It didn't

423
00:21:16,400 --> 00:21:18,399
Speaker 5: sound like this was a ploy. Sounded like this is

424
00:21:18,400 --> 00:21:22,040
Speaker 5: what he really believed his administration should do, especially when

425
00:21:22,040 --> 00:21:23,760
Speaker 5: it came to those ten percent tariffs. Now some of

426
00:21:23,760 --> 00:21:26,240
Speaker 5: the other tariffs, I imagine there would be some room

427
00:21:26,240 --> 00:21:29,800
Speaker 5: for negotiation. Earlier today, I was talking to Carlos Scudierra's

428
00:21:29,800 --> 00:21:31,719
Speaker 5: former Commerce secretary under George W.

429
00:21:31,800 --> 00:21:32,359
Speaker 4: Bush.

430
00:21:32,480 --> 00:21:35,520
Speaker 5: He said he was in China, and according to the

431
00:21:35,560 --> 00:21:37,359
Speaker 5: people he spoke to, he's speaking to a lot of

432
00:21:37,440 --> 00:21:39,439
Speaker 5: high level people. He didn't tell me exactly who, but

433
00:21:39,480 --> 00:21:41,520
Speaker 5: talking to a lot of high level people that they

434
00:21:41,560 --> 00:21:44,000
Speaker 5: say they're nervous. There hasn't been any backchanneling as far

435
00:21:44,040 --> 00:21:46,200
Speaker 5: as they know. They haven't heard about a lot of

436
00:21:46,240 --> 00:21:49,520
Speaker 5: backchanneling going on. They're really kind of confused about some

437
00:21:49,560 --> 00:21:52,280
Speaker 5: of these tactics. You often hear President Trump say he

438
00:21:52,280 --> 00:21:54,560
Speaker 5: has a good relationship with she, and then you see

439
00:21:54,640 --> 00:21:58,919
Speaker 5: essentially fifty four percent tariffs on China, which is obviously

440
00:21:58,920 --> 00:22:00,639
Speaker 5: going to shake up a lot of some apply chains,

441
00:22:00,640 --> 00:22:04,359
Speaker 5: a lot of businesses. Apple's Won lou Lemons, one dollar trees,

442
00:22:04,359 --> 00:22:07,280
Speaker 5: and other stock hit hard like those extensive things come

443
00:22:07,320 --> 00:22:09,920
Speaker 5: from China. So I didn't get the impression there was

444
00:22:09,960 --> 00:22:12,200
Speaker 5: a lot of deals on the table at least now.

445
00:22:12,280 --> 00:22:14,760
Speaker 5: Now maybe the President's administration have a trick up their sleeve.

446
00:22:15,280 --> 00:22:17,960
Speaker 5: But you keep hearing these conflicting reports. Some people say

447
00:22:18,680 --> 00:22:20,560
Speaker 5: their sources are telling them the President wants to make

448
00:22:20,560 --> 00:22:22,480
Speaker 5: a deal, he wants to negotiate. Other people are saying

449
00:22:22,520 --> 00:22:25,800
Speaker 5: a deal isn't really what he's looking for unless people

450
00:22:25,840 --> 00:22:30,879
Speaker 5: make very substantial, substantial commitments to move their manufacturing to

451
00:22:30,960 --> 00:22:31,399
Speaker 5: the US.

452
00:22:32,280 --> 00:22:36,560
Speaker 2: So we have five thousand people on this live hit

453
00:22:36,600 --> 00:22:39,080
Speaker 2: the like button and share. So this is just a

454
00:22:39,200 --> 00:22:41,480
Speaker 2: random lib that we did that lets me know that

455
00:22:41,520 --> 00:22:44,439
Speaker 2: people have a lot of anxiety, but this is the

456
00:22:44,440 --> 00:22:46,640
Speaker 2: golden question that they want to have before we bring

457
00:22:46,640 --> 00:22:48,080
Speaker 2: our other guests into kind of make it a group

458
00:22:48,119 --> 00:22:51,960
Speaker 2: conversation stocks and we're going to talk about our opinions.

459
00:22:51,960 --> 00:22:55,920
Speaker 2: But you work in CNBC, so on stocks all day.

460
00:22:56,240 --> 00:23:01,600
Speaker 2: You talk stocks all day, right all day? Stocks? Where

461
00:23:01,600 --> 00:23:04,840
Speaker 2: we at with the stock market? This is this going

462
00:23:04,920 --> 00:23:06,560
Speaker 2: to be like a two thousand and eight thing with

463
00:23:06,680 --> 00:23:09,000
Speaker 2: this is just the beginning and we had it for

464
00:23:09,280 --> 00:23:12,640
Speaker 2: thirty percent thirty five percent stock market crash?

465
00:23:13,240 --> 00:23:15,440
Speaker 3: Why are you saying things like that? Man, we can't

466
00:23:15,440 --> 00:23:16,000
Speaker 3: have that out there.

467
00:23:16,040 --> 00:23:18,320
Speaker 4: I know, Man, you're a shot. He's putting the bad juju.

468
00:23:19,560 --> 00:23:21,720
Speaker 2: We got to speaking juju out there.

469
00:23:21,800 --> 00:23:24,000
Speaker 5: But on a serious note, I mean, isn't that the fear?

470
00:23:24,000 --> 00:23:25,359
Speaker 5: I think that's the fear that a lot of people have.

471
00:23:25,440 --> 00:23:29,200
Speaker 5: That's why today's see stocks like Progressive Insurance up one

472
00:23:29,240 --> 00:23:31,520
Speaker 5: and a half percent, all stayed up like two percent.

473
00:23:31,840 --> 00:23:34,800
Speaker 5: People are going putting their money in companies that you

474
00:23:34,800 --> 00:23:36,520
Speaker 5: know are gonna make money no matter what, No matter

475
00:23:36,520 --> 00:23:38,520
Speaker 5: what happens. You got to have your car insurance, you

476
00:23:38,560 --> 00:23:40,160
Speaker 5: know what I mean, no matter what happens. Your doctor

477
00:23:40,160 --> 00:23:42,360
Speaker 5: Pepper I think was up two percent. You're still going

478
00:23:42,400 --> 00:23:43,960
Speaker 5: to drink a soda, you know what I mean? Like,

479
00:23:43,960 --> 00:23:46,480
Speaker 5: you're not going to stop drinking soda because you're making

480
00:23:46,560 --> 00:23:48,719
Speaker 5: less money or your business isn't doing as well. Some

481
00:23:48,720 --> 00:23:50,720
Speaker 5: things people are going to continue to spend on. So

482
00:23:51,040 --> 00:23:53,000
Speaker 5: is the setup for something like that to happen? I mean,

483
00:23:53,119 --> 00:23:55,560
Speaker 5: I think all the smart people I'm talking to say yes.

484
00:23:55,880 --> 00:23:58,120
Speaker 5: I'm gonna start with my man, Jim Kramer from Mad Money.

485
00:23:58,160 --> 00:24:01,000
Speaker 5: He's saying, put some money on the sidelines, put some

486
00:24:01,040 --> 00:24:03,600
Speaker 5: cash on the sidelines, when generally he's saying, be invested

487
00:24:03,640 --> 00:24:05,600
Speaker 5: in the market. Even he's saying it's a little bit

488
00:24:05,640 --> 00:24:07,480
Speaker 5: too shaky. I'm talking to a lot of other traders.

489
00:24:07,760 --> 00:24:10,280
Speaker 5: They're saying, right now, it's just not a great environment

490
00:24:10,359 --> 00:24:11,800
Speaker 5: to trade it. A couple of weeks ago, a lot

491
00:24:11,840 --> 00:24:14,119
Speaker 5: of people thought we had hit a tradable bottom. The

492
00:24:14,119 --> 00:24:15,560
Speaker 5: fact that we were hitting the bottom until we got

493
00:24:15,560 --> 00:24:17,600
Speaker 5: this tariff announcement. Then when we get some clarity and

494
00:24:17,640 --> 00:24:20,199
Speaker 5: maybe some more volatility. But it feels like there might

495
00:24:20,280 --> 00:24:24,639
Speaker 5: be more volatility ahead. When you're seeing megacap tech just

496
00:24:24,880 --> 00:24:26,280
Speaker 5: sell off the way it did today. I think the

497
00:24:26,320 --> 00:24:29,240
Speaker 5: mag seven lost about one trillion dollars worth of market value.

498
00:24:29,240 --> 00:24:31,600
Speaker 5: When you see that happen, it's hard for the market

499
00:24:31,680 --> 00:24:33,720
Speaker 5: to really gain its footing. Remember those stocks are about

500
00:24:33,840 --> 00:24:36,639
Speaker 5: fifty five percent of the spy about fifty five percent

501
00:24:36,640 --> 00:24:39,440
Speaker 5: of the Triple Q. So I mean, with that kind

502
00:24:39,440 --> 00:24:42,399
Speaker 5: of concentration, those stocks under pressure, it's really hard for

503
00:24:42,440 --> 00:24:44,119
Speaker 5: the market just to really find its footing. And you

504
00:24:44,160 --> 00:24:46,800
Speaker 5: got to remember those stocks they're not necessarily tariff sensitive,

505
00:24:46,840 --> 00:24:48,920
Speaker 5: but not necessarily inflation sensitive, but they.

506
00:24:48,800 --> 00:24:49,800
Speaker 4: Are growth sensitive.

507
00:24:49,880 --> 00:24:52,560
Speaker 5: Companies need me to feel confident in their ability to grow,

508
00:24:52,840 --> 00:24:55,239
Speaker 5: to spend money on cloud computing, to spend money on

509
00:24:55,280 --> 00:24:58,120
Speaker 5: AI agents, and take these different steps. And if you're

510
00:24:58,200 --> 00:25:01,080
Speaker 5: unsure about the economy and what the administration is doing,

511
00:25:01,160 --> 00:25:03,000
Speaker 5: you're not gonna make those kind of investments. If you're

512
00:25:03,000 --> 00:25:04,399
Speaker 5: a CEO, it's hard to go to the board and

513
00:25:04,440 --> 00:25:06,560
Speaker 5: say I want to spend X amount of money to

514
00:25:06,600 --> 00:25:08,400
Speaker 5: move my stuff to the cloud or to put these

515
00:25:08,440 --> 00:25:10,360
Speaker 5: AI agents in you don't even know.

516
00:25:10,320 --> 00:25:10,879
Speaker 4: What's coming up.

517
00:25:11,760 --> 00:25:13,960
Speaker 1: Yeah, it's interesting when you talk about the Max seven

518
00:25:14,000 --> 00:25:15,919
Speaker 1: that one company that would probably be right on the

519
00:25:15,920 --> 00:25:19,119
Speaker 1: outside of that, Netflix was almost positive today they might

520
00:25:19,119 --> 00:25:21,040
Speaker 1: have closed positive P ANDNG like.

521
00:25:21,160 --> 00:25:23,000
Speaker 2: Stocks like that make sense because.

522
00:25:22,720 --> 00:25:26,119
Speaker 1: No matter what, you're gonna need your household supplies. You

523
00:25:26,160 --> 00:25:29,320
Speaker 1: said the tradable bottom, which is interesting because we all

524
00:25:29,400 --> 00:25:33,600
Speaker 1: knew that April second was coming and we circled that date,

525
00:25:33,640 --> 00:25:34,879
Speaker 1: and obviously we saw what happened.

526
00:25:34,920 --> 00:25:36,760
Speaker 2: But now it feels like maybe.

527
00:25:36,760 --> 00:25:39,520
Speaker 1: April ninth is one of those dates that we now

528
00:25:39,640 --> 00:25:42,680
Speaker 1: have to circle with the retaliatory terriffts coming back our

529
00:25:42,720 --> 00:25:45,760
Speaker 1: way from all these countries that we are now putting

530
00:25:45,760 --> 00:25:46,360
Speaker 1: taxes on.

531
00:25:46,720 --> 00:25:48,800
Speaker 3: What's been a sediment around the ninth. Now is the

532
00:25:48,880 --> 00:25:49,720
Speaker 3: day that we all.

533
00:25:49,600 --> 00:25:51,760
Speaker 1: Have to watch because we thought that was a tradable

534
00:25:51,760 --> 00:25:52,960
Speaker 1: bottom a few weeks ago.

535
00:25:53,560 --> 00:25:55,720
Speaker 3: Yesterday happened next Wednesday.

536
00:25:55,760 --> 00:25:58,840
Speaker 4: Who knows, man, I mean, you gotta watch the fourth,

537
00:25:59,400 --> 00:25:59,800
Speaker 4: the tenth.

538
00:26:00,000 --> 00:26:02,879
Speaker 5: I mean, there's still the potential for pharmaceutical tariffs, for

539
00:26:03,080 --> 00:26:07,920
Speaker 5: semiconductor chip tariffs, you know, lumber, copper. I mean just

540
00:26:07,960 --> 00:26:09,560
Speaker 5: there's so many different areas that can face tariff. So

541
00:26:09,600 --> 00:26:11,159
Speaker 5: I don't know if there's one date you can point to.

542
00:26:11,280 --> 00:26:13,320
Speaker 5: I think the next date. I think a lot of

543
00:26:13,320 --> 00:26:15,359
Speaker 5: people have it circled on their calendar, specifical when I'm

544
00:26:15,400 --> 00:26:17,960
Speaker 5: talking to people who manage money or who try to trade.

545
00:26:18,000 --> 00:26:20,720
Speaker 5: As actually made the seventh, that's the FED decision. So

546
00:26:20,760 --> 00:26:21,960
Speaker 5: a lot of people are starting to think that the

547
00:26:21,960 --> 00:26:24,480
Speaker 5: FED might have to get active. Previously, it was thought

548
00:26:24,680 --> 00:26:26,879
Speaker 5: very low chance of the FED cutting in May. I

549
00:26:26,920 --> 00:26:28,520
Speaker 5: think it was JP Morgan and came out and said

550
00:26:28,520 --> 00:26:30,480
Speaker 5: they believe that the next cut would come up in July.

551
00:26:30,840 --> 00:26:32,080
Speaker 5: I'm talking to a lot of people, a lot of

552
00:26:32,119 --> 00:26:35,040
Speaker 5: rumblings who think that the Fed, the FED officials ja

553
00:26:35,119 --> 00:26:36,600
Speaker 5: pale everybody else. They may feel like they need to

554
00:26:36,640 --> 00:26:38,680
Speaker 5: get ahead of this whole tariff situation and cut as

555
00:26:38,680 --> 00:26:41,080
Speaker 5: soon as May, which would certainly give the boost to

556
00:26:41,119 --> 00:26:43,040
Speaker 5: the market. I don't know if you guys ever know

557
00:26:43,080 --> 00:26:44,800
Speaker 5: this guy, Mark Smith from wellsbarg Wood Buyer, there's a

558
00:26:44,800 --> 00:26:46,400
Speaker 5: great guy. He's a guest on my show. He came

559
00:26:46,440 --> 00:26:48,119
Speaker 5: on and he was talking about two areas of the

560
00:26:48,119 --> 00:26:51,720
Speaker 5: market that he thinks not recession proof, not tariff proof,

561
00:26:51,800 --> 00:26:54,280
Speaker 5: but generally resistant to it. And one of them was

562
00:26:54,320 --> 00:26:58,080
Speaker 5: financials or another rate cut would significantly help the financials. I'm

563
00:26:58,080 --> 00:27:00,480
Speaker 5: talking to big banks like JP Morgan and Morgan Stanley,

564
00:27:00,760 --> 00:27:02,800
Speaker 5: Los Fargo City and stuff like that. So to me,

565
00:27:02,880 --> 00:27:04,800
Speaker 5: it's I think May seventh is the date, and we'll

566
00:27:04,800 --> 00:27:07,120
Speaker 5: probably have a lot of volatility until then. I think

567
00:27:07,119 --> 00:27:09,199
Speaker 5: the only certainty that we may get is from the

568
00:27:09,200 --> 00:27:10,240
Speaker 5: Fed that they're gonna cut.

569
00:27:11,240 --> 00:27:14,760
Speaker 2: Let's let's bring let's bring our other guests on Friends

570
00:27:14,800 --> 00:27:19,720
Speaker 2: of the Show. Friend of the Show, Caleb Still.

571
00:27:20,760 --> 00:27:22,520
Speaker 6: I didn't know Frank Collin was gonna be here. This

572
00:27:22,560 --> 00:27:24,280
Speaker 6: is a full party. Thanks for having man.

573
00:27:24,480 --> 00:27:25,800
Speaker 4: We're just hanging out down in Miami.

574
00:27:25,840 --> 00:27:31,159
Speaker 2: Actually, Chef Kwame, Oh yeah, nice, Your monks a great panel.

575
00:27:31,160 --> 00:27:34,320
Speaker 2: Man is a good dude, salad salad guy. So yeah,

576
00:27:34,520 --> 00:27:38,280
Speaker 2: Caleb Good, Friend of the Show, chief editor of Investopedia.

577
00:27:38,880 --> 00:27:40,760
Speaker 2: So I'm sure a lot of people have been hitting

578
00:27:40,800 --> 00:27:44,720
Speaker 2: yes sight trying to find out what tariffs are and

579
00:27:44,840 --> 00:27:47,920
Speaker 2: what when the recession is coming and stuff like that.

580
00:27:48,000 --> 00:27:53,800
Speaker 2: So from a historical standpoint, right, can you give us

581
00:27:53,840 --> 00:28:00,280
Speaker 2: some historical insight on tariffs and why America for the

582
00:28:00,359 --> 00:28:03,359
Speaker 2: last seventy years has been more free trade. We haven't

583
00:28:03,520 --> 00:28:09,280
Speaker 2: pushed this button of pariffs, but uh, because people a lot,

584
00:28:09,400 --> 00:28:11,800
Speaker 2: you know, a lot of that's that's a common theme.

585
00:28:11,840 --> 00:28:13,639
Speaker 2: People like, well, we've been getting ripped off for a

586
00:28:13,640 --> 00:28:16,280
Speaker 2: long time. They can't understand why we haven't done this

587
00:28:16,320 --> 00:28:19,399
Speaker 2: a lot earlier. Right, But there's there's a there's a

588
00:28:19,480 --> 00:28:20,679
Speaker 2: reason why we haven't done this.

589
00:28:21,000 --> 00:28:23,200
Speaker 6: Yeah, well we actually have and it was this smooth

590
00:28:23,240 --> 00:28:25,600
Speaker 6: holly tariff that kicked this whole thing off about one

591
00:28:25,640 --> 00:28:28,159
Speaker 6: hundred years ago. So we've been a tariff nation. And

592
00:28:28,240 --> 00:28:30,760
Speaker 6: in the early days of America Alexander Hamilt, they all

593
00:28:30,800 --> 00:28:33,720
Speaker 6: favored tariffs in order to raise some money for the government,

594
00:28:33,760 --> 00:28:37,040
Speaker 6: but never to this extent where we're being we're actually

595
00:28:37,280 --> 00:28:40,960
Speaker 6: putting a consumptive tax on our own citizens to pay

596
00:28:41,000 --> 00:28:43,520
Speaker 6: for this to raise money because they want to cut taxes.

597
00:28:43,560 --> 00:28:45,480
Speaker 6: This is a very, very weird way of doing it.

598
00:28:45,600 --> 00:28:47,400
Speaker 6: We have never had tariffs to this degree. But you've

599
00:28:47,360 --> 00:28:49,440
Speaker 6: got to remember Trump one point zero, there was over

600
00:28:49,440 --> 00:28:52,320
Speaker 6: three hundred billion dollars worth of tariffs. The Biden administration

601
00:28:52,440 --> 00:28:54,840
Speaker 6: came in and added more tariffs on top of that,

602
00:28:55,240 --> 00:28:57,480
Speaker 6: but when you look around the world, it's just never

603
00:28:57,520 --> 00:28:59,400
Speaker 6: been at this level. And the fact that we're coming

604
00:28:59,400 --> 00:29:02,160
Speaker 6: out with this ten percent cross the board tariffs, which really,

605
00:29:02,160 --> 00:29:05,200
Speaker 6: as I said, is a consumption tax for consumers here

606
00:29:05,200 --> 00:29:08,600
Speaker 6: in the United States, that's a very big precedent right there.

607
00:29:08,720 --> 00:29:12,280
Speaker 6: And I think it changes the entire global world order,

608
00:29:12,280 --> 00:29:15,440
Speaker 6: and it changes the way capital markets are going to work.

609
00:29:15,440 --> 00:29:17,720
Speaker 6: And I'll say it for this reason when you can't

610
00:29:17,760 --> 00:29:20,240
Speaker 6: and Frank was alluding to it a little bit. The

611
00:29:20,240 --> 00:29:22,320
Speaker 6: FED meeting is super important. But you got to wonder

612
00:29:22,360 --> 00:29:26,720
Speaker 6: if this level of tariffs and this intensity is intentional

613
00:29:26,960 --> 00:29:29,920
Speaker 6: by the Trump administration that wants lower interest rates. He

614
00:29:29,960 --> 00:29:32,440
Speaker 6: has said that back on the campaign trail and all along.

615
00:29:32,680 --> 00:29:36,360
Speaker 6: So by forcing the economy to slow down, it forces

616
00:29:36,400 --> 00:29:40,200
Speaker 6: the Fed's hand to lower interest rates so that our

617
00:29:40,560 --> 00:29:43,640
Speaker 6: debt payments, which we make every quarter as a country,

618
00:29:44,760 --> 00:29:47,000
Speaker 6: get reduced a little bit. We spend the second moused

619
00:29:47,000 --> 00:29:49,280
Speaker 6: amount of money we spend as a government is on

620
00:29:49,440 --> 00:29:52,560
Speaker 6: servicing our debt, which is over at trillion dollars just

621
00:29:52,600 --> 00:29:54,880
Speaker 6: servicing the debt. So if we can lower that, then

622
00:29:54,880 --> 00:29:58,200
Speaker 6: there's going to free up more money to do force deportations,

623
00:29:58,360 --> 00:30:00,400
Speaker 6: to build walls, to do whatever else is on the

624
00:30:00,400 --> 00:30:01,640
Speaker 6: agenda of this administration.

625
00:30:02,520 --> 00:30:04,160
Speaker 1: Yeah, it feels like is there a goal I know

626
00:30:04,320 --> 00:30:06,000
Speaker 1: there's been a lot of talk what is the goal

627
00:30:06,120 --> 00:30:08,440
Speaker 1: number or is there a goal number that they're trying

628
00:30:08,480 --> 00:30:10,560
Speaker 1: to receive from the terriffs?

629
00:30:10,600 --> 00:30:13,000
Speaker 3: Right, we obviously know that government spending and those.

630
00:30:12,920 --> 00:30:15,720
Speaker 1: Was created to reduce that, but it feels like the

631
00:30:15,800 --> 00:30:19,120
Speaker 1: uncertainty around the number, it kind of has no rhyme

632
00:30:19,240 --> 00:30:23,520
Speaker 1: or reason. So from your perspective, is there from the

633
00:30:24,000 --> 00:30:25,920
Speaker 1: deficit which is what thirty seven trillion?

634
00:30:25,960 --> 00:30:29,120
Speaker 3: Now, is this the best method forward?

635
00:30:29,200 --> 00:30:29,360
Speaker 2: Right?

636
00:30:29,360 --> 00:30:31,440
Speaker 3: Like we I know Shoty alluded to it earlier.

637
00:30:31,520 --> 00:30:34,880
Speaker 1: Right, sometimes you can't pull the bend aid off too fast.

638
00:30:35,600 --> 00:30:38,360
Speaker 1: Does it feel like this has happened? And obviously is

639
00:30:38,400 --> 00:30:39,720
Speaker 1: this the best method going forward?

640
00:30:40,240 --> 00:30:42,120
Speaker 6: No, but it is a method, and it is sort

641
00:30:42,120 --> 00:30:45,120
Speaker 6: of taking a sledgehammer to a you know, to a

642
00:30:45,160 --> 00:30:48,160
Speaker 6: small nail, because this is actually hurting lower to middle

643
00:30:48,200 --> 00:30:50,960
Speaker 6: income families more than anybody out there. It's that Peter

644
00:30:51,040 --> 00:30:53,400
Speaker 6: Navarro was a Trump advisor, says it's going to raise

645
00:30:53,400 --> 00:30:57,280
Speaker 6: six trillion dollars, not anytime soon. Right, These companies are

646
00:30:57,320 --> 00:30:59,400
Speaker 6: going to pull back on their shipments with our companies

647
00:30:59,440 --> 00:31:01,280
Speaker 6: here in the Knights States aren't going to order more.

648
00:31:01,320 --> 00:31:02,800
Speaker 6: So you're not going to feel the impacts of that.

649
00:31:02,920 --> 00:31:05,200
Speaker 6: Who's going to feel it? Consumers who have to go

650
00:31:05,240 --> 00:31:07,360
Speaker 6: to the grocery store, load up like they do every

651
00:31:07,360 --> 00:31:10,600
Speaker 6: single week, feed their families, right, buy supplies to fix

652
00:31:10,680 --> 00:31:13,720
Speaker 6: up their small business, order in inventory so they have

653
00:31:13,880 --> 00:31:16,120
Speaker 6: enough inventory in their small business to be able to

654
00:31:16,520 --> 00:31:18,160
Speaker 6: make it going forward. So this is more of a

655
00:31:18,200 --> 00:31:21,680
Speaker 6: punishment against consumers and households in the United States with

656
00:31:21,800 --> 00:31:24,960
Speaker 6: the intended impact of making people and other countries pay

657
00:31:25,000 --> 00:31:28,040
Speaker 6: their fair share. The fact is we've had a pretty

658
00:31:28,040 --> 00:31:30,200
Speaker 6: strong economy up until about two or three months ago

659
00:31:30,240 --> 00:31:32,960
Speaker 6: that was in pretty good shape. Four percent unemployment GDP

660
00:31:33,080 --> 00:31:35,960
Speaker 6: at two point eight percent, right, inflation was coming down.

661
00:31:36,000 --> 00:31:37,800
Speaker 6: It wasn't to where I wanted to be, to where

662
00:31:37,800 --> 00:31:39,400
Speaker 6: the Fed would like it to be, but it was

663
00:31:39,440 --> 00:31:41,880
Speaker 6: on its way moving a little bit lower. So this

664
00:31:41,920 --> 00:31:45,360
Speaker 6: is kind of like a complete change of the global

665
00:31:45,400 --> 00:31:48,520
Speaker 6: world order, and it calls into question things like the

666
00:31:48,600 --> 00:31:52,400
Speaker 6: sacredness of the tenure treasury right, the most widely held,

667
00:31:52,640 --> 00:31:56,800
Speaker 6: most saved asset in the world. Right, people own our

668
00:31:56,840 --> 00:31:59,200
Speaker 6: debt because they believe that our country will grow and

669
00:31:59,200 --> 00:32:00,960
Speaker 6: that will pay it back. Well, this is a big

670
00:32:01,000 --> 00:32:03,360
Speaker 6: shot at that right now. And it's also a big

671
00:32:03,360 --> 00:32:06,360
Speaker 6: shot at the dollar. So if the dollar becomes you know,

672
00:32:06,480 --> 00:32:09,280
Speaker 6: less desired and doesn't become the reserve currency anymore, which

673
00:32:09,400 --> 00:32:11,400
Speaker 6: we're a long way from that. Which if you lose

674
00:32:11,400 --> 00:32:13,560
Speaker 6: the yield the ten year treasure field and you lose

675
00:32:13,600 --> 00:32:16,080
Speaker 6: the dollar, you lose the structure of our capital markets,

676
00:32:16,120 --> 00:32:17,160
Speaker 6: and that's very concerning.

677
00:32:17,440 --> 00:32:21,360
Speaker 2: Well, this is some anybody can chime in. But so

678
00:32:21,400 --> 00:32:25,640
Speaker 2: this is this is what is a little confusing because

679
00:32:25,640 --> 00:32:28,920
Speaker 2: Trump has been he's been obsessed with tariff since the

680
00:32:29,000 --> 00:32:31,640
Speaker 2: nineteen eighties. So I don't know if this is like

681
00:32:31,800 --> 00:32:34,520
Speaker 2: just a personal crusade of his, like you know, kind

682
00:32:34,520 --> 00:32:37,520
Speaker 2: of like a bucket listing that he just was just

683
00:32:37,600 --> 00:32:39,920
Speaker 2: obsessed with his whole entire life and now he's just like,

684
00:32:40,000 --> 00:32:42,080
Speaker 2: I just want to do this because like you said,

685
00:32:42,120 --> 00:32:47,520
Speaker 2: I mean I it's if this continues, then we're most

686
00:32:47,560 --> 00:32:50,520
Speaker 2: likely head to a recession, right, So for presidents don't

687
00:32:50,560 --> 00:32:53,360
Speaker 2: like to be presidents during recession. So why would you

688
00:32:53,640 --> 00:32:58,760
Speaker 2: personally thank the economy for no reason? Like we weren't

689
00:32:58,840 --> 00:33:01,200
Speaker 2: in a bad spot. You said, we were actually in

690
00:33:01,280 --> 00:33:04,080
Speaker 2: a good spot as far as the market, the unemployment,

691
00:33:04,520 --> 00:33:08,480
Speaker 2: a variety of different things. Was actually, he's actually inherited

692
00:33:08,640 --> 00:33:13,040
Speaker 2: a pretty good situation. Now that the debt is an issue,

693
00:33:13,360 --> 00:33:18,680
Speaker 2: for sure, but it wasn't needed. It wasn't needed to

694
00:33:19,480 --> 00:33:23,400
Speaker 2: do it in this fashion, and a lot of people

695
00:33:23,480 --> 00:33:25,200
Speaker 2: is going to cause a lot of pain, and like

696
00:33:25,240 --> 00:33:29,040
Speaker 2: you said, lower to middle income people are going to

697
00:33:29,120 --> 00:33:32,560
Speaker 2: feel that pain the most, right because it's like, okay,

698
00:33:32,600 --> 00:33:34,360
Speaker 2: if you got to pay extra five hundred dollars for

699
00:33:34,440 --> 00:33:38,000
Speaker 2: something that's that's inconvenient if somebody is making forty thousand

700
00:33:38,000 --> 00:33:39,719
Speaker 2: dollars has to pay five hundred dollars for something that

701
00:33:39,720 --> 00:33:42,360
Speaker 2: that's life changing, that continued to be life changing, right,

702
00:33:42,880 --> 00:33:48,640
Speaker 2: So yeah, I'm trying to figure this out. So you guys,

703
00:33:49,040 --> 00:33:51,200
Speaker 2: you know what is your thought process? You brought up

704
00:33:51,200 --> 00:33:54,400
Speaker 2: the interest rates, that's interesting. But outside of that, why

705
00:33:54,400 --> 00:33:57,800
Speaker 2: would some why would he do this? Like why would

706
00:33:57,800 --> 00:34:02,480
Speaker 2: he have this much pain so early in his presidency

707
00:34:03,440 --> 00:34:04,480
Speaker 2: for no apparent reason?

708
00:34:06,840 --> 00:34:09,279
Speaker 6: Frank, you want to take it first, Not glad, Gil,

709
00:34:09,320 --> 00:34:09,799
Speaker 6: you're a start.

710
00:34:09,880 --> 00:34:11,600
Speaker 2: Okay, Here's what.

711
00:34:11,680 --> 00:34:15,800
Speaker 6: I think and this is my opinion, not Investipedia's opinion.

712
00:34:15,840 --> 00:34:18,160
Speaker 6: But I think that they want to burn it down,

713
00:34:18,200 --> 00:34:20,600
Speaker 6: you know, or at least slow the economy and take

714
00:34:20,600 --> 00:34:23,839
Speaker 6: it into a recession, bring the market way down, and

715
00:34:23,880 --> 00:34:27,480
Speaker 6: then through whatever mechanisms, either through private privatization, which is

716
00:34:27,480 --> 00:34:28,920
Speaker 6: where a lot of this is going. When you look

717
00:34:28,920 --> 00:34:31,919
Speaker 6: at a lot of the government job cuts, privatization so

718
00:34:31,960 --> 00:34:34,520
Speaker 6: that those that are in close can line their pockets

719
00:34:34,520 --> 00:34:36,960
Speaker 6: and get rich as they rebuild it back up, but

720
00:34:37,040 --> 00:34:41,720
Speaker 6: through private means, right, and then redistribute that wealth among

721
00:34:41,880 --> 00:34:43,480
Speaker 6: the people that are going to help them get re

722
00:34:43,600 --> 00:34:45,960
Speaker 6: elected in the future. So I think that's part of it.

723
00:34:46,200 --> 00:34:48,560
Speaker 6: I think there's also a let's burn it down so

724
00:34:48,600 --> 00:34:50,319
Speaker 6: we can build it back up and say, what a

725
00:34:50,320 --> 00:34:53,880
Speaker 6: great job we did rebuilding this economy which was in tatters.

726
00:34:53,960 --> 00:34:56,000
Speaker 6: It is so rare you mentioned it Vershot, It is

727
00:34:56,040 --> 00:34:58,399
Speaker 6: so rare for a president to come into office over

728
00:34:58,440 --> 00:35:01,480
Speaker 6: the last four decades. It's not in a recession. This

729
00:35:01,560 --> 00:35:05,160
Speaker 6: president inherited actually a pretty strong economy. Biden inherited an

730
00:35:05,160 --> 00:35:07,680
Speaker 6: economy that was coming out of the COVID pandemic. And

731
00:35:07,719 --> 00:35:10,680
Speaker 6: even the last two presidents they entered they entered the

732
00:35:10,680 --> 00:35:13,080
Speaker 6: White House in very difficult times for the economy. Not

733
00:35:13,160 --> 00:35:15,520
Speaker 6: this time around. So may burning it down and then

734
00:35:15,560 --> 00:35:17,719
Speaker 6: rebuilding it, say we fixed this whole thing, and look how.

735
00:35:17,640 --> 00:35:18,080
Speaker 2: We did it.

736
00:35:18,160 --> 00:35:20,560
Speaker 6: Meanwhile, a lot of it's been privatized and very few

737
00:35:20,560 --> 00:35:22,080
Speaker 6: people are getting very rich off of this.

738
00:35:24,000 --> 00:35:26,320
Speaker 5: When I look at it, it seems to me, again

739
00:35:26,360 --> 00:35:28,239
Speaker 5: this is my opinion on CNBC, it seems like to me,

740
00:35:28,280 --> 00:35:30,759
Speaker 5: a president's trying to establish a legacy. You know, he

741
00:35:30,800 --> 00:35:32,720
Speaker 5: felt like he was supposed to have back to back terms.

742
00:35:32,719 --> 00:35:33,800
Speaker 5: He's come back into office.

743
00:35:33,880 --> 00:35:34,120
Speaker 4: Now.

744
00:35:35,120 --> 00:35:37,840
Speaker 5: One way to establish a legacy is to reshape global

745
00:35:37,880 --> 00:35:40,359
Speaker 5: trade and put your mark on that. He's someone who

746
00:35:40,440 --> 00:35:42,920
Speaker 5: has done business all around the world, whether it be

747
00:35:42,920 --> 00:35:47,120
Speaker 5: casinos or golf courses. His first administration, he did hire

748
00:35:47,160 --> 00:35:49,520
Speaker 5: a lot of business leaders. This time it's even a

749
00:35:49,520 --> 00:35:52,320
Speaker 5: bigger concentration of business leaders and people with very.

750
00:35:52,160 --> 00:35:53,960
Speaker 4: Specific thoughts about the global economy.

751
00:35:53,960 --> 00:35:57,120
Speaker 5: As Treasury Secretary Scott Besson's a great example of that,

752
00:35:57,239 --> 00:35:59,640
Speaker 5: somebody who's just seen as a global thought leader when

753
00:35:59,680 --> 00:36:01,759
Speaker 5: it comes to finance. So I think for him it's

754
00:36:01,800 --> 00:36:04,399
Speaker 5: really his chance to put his stamp not only on

755
00:36:04,440 --> 00:36:07,280
Speaker 5: the presidency the second time around, but the entire world.

756
00:36:07,360 --> 00:36:09,040
Speaker 5: And I think you often hear him say when he's

757
00:36:09,040 --> 00:36:11,560
Speaker 5: talking to business leaders about things that he sees his accomplishments.

758
00:36:11,600 --> 00:36:14,000
Speaker 5: He goes, Trump got it done. Nobody else could get

759
00:36:14,040 --> 00:36:15,800
Speaker 5: it done. People are saying that Trump got it done.

760
00:36:16,000 --> 00:36:18,239
Speaker 5: So a lot of it seems like his legacy, at

761
00:36:18,320 --> 00:36:19,680
Speaker 5: least in his mind, is at play. And you have

762
00:36:19,719 --> 00:36:22,640
Speaker 5: to remember, this is somebody, based on what we saw

763
00:36:22,680 --> 00:36:24,960
Speaker 5: on reports and ourselves on TV, that faced, you know,

764
00:36:25,360 --> 00:36:30,880
Speaker 5: a near death experience, possibly being assassinated. He's an older gentleman.

765
00:36:30,920 --> 00:36:33,600
Speaker 5: He's close to about eighty years old himself. So when

766
00:36:33,600 --> 00:36:35,959
Speaker 5: you get to that stage as we all get older,

767
00:36:36,000 --> 00:36:38,360
Speaker 5: we start to think more about what am I leaving behind?

768
00:36:38,880 --> 00:36:41,319
Speaker 4: How are people going to see me? What accomplishments do

769
00:36:41,360 --> 00:36:41,560
Speaker 4: I have?

770
00:36:41,600 --> 00:36:45,080
Speaker 2: In this general seems I'm just say that's a very

771
00:36:45,120 --> 00:36:49,400
Speaker 2: good point. That's actually both of you. That's very insightful

772
00:36:49,400 --> 00:36:53,279
Speaker 2: what you just said. Because he puts his name on everything, right,

773
00:36:53,320 --> 00:36:55,000
Speaker 2: He's the guy that puts his name on stuff that

774
00:36:55,040 --> 00:36:57,759
Speaker 2: he doesn't even own, so like Trump, Tao and Trump, Like,

775
00:36:57,800 --> 00:37:00,920
Speaker 2: he's very big on branding and he's very big on legacy.

776
00:37:01,040 --> 00:37:04,080
Speaker 2: So he said this before as far as like if

777
00:37:04,080 --> 00:37:07,640
Speaker 2: he can be the person that literally reshapes world trade

778
00:37:08,120 --> 00:37:10,200
Speaker 2: from like how it's been for the last hundred years

779
00:37:10,160 --> 00:37:13,200
Speaker 2: in a free trade market, and if he can, if

780
00:37:13,239 --> 00:37:14,920
Speaker 2: he can, and now it can be like the Trump

781
00:37:14,960 --> 00:37:19,880
Speaker 2: Trade Plan for the world. Branding wise, I never I

782
00:37:19,920 --> 00:37:21,839
Speaker 2: haven't really thought about it like that, But that makes

783
00:37:21,880 --> 00:37:23,839
Speaker 2: a lot of sense. That actually makes a lot of sense.

784
00:37:23,840 --> 00:37:25,279
Speaker 1: It's kind of like what he alluded to, like what

785
00:37:25,320 --> 00:37:27,760
Speaker 1: you were saying. He's had this ideology since the eighties.

786
00:37:27,800 --> 00:37:30,000
Speaker 1: It was that Johnny Carson interview where he's sitting there

787
00:37:30,000 --> 00:37:32,640
Speaker 1: talking about trade. But even watching them today, it feels

788
00:37:32,680 --> 00:37:35,239
Speaker 1: like there's a certain level of delusion, right. I think

789
00:37:35,320 --> 00:37:38,919
Speaker 1: Josh Brown said it today, like he's either incredibly right

790
00:37:39,120 --> 00:37:43,960
Speaker 1: or he's going to be incredibly wrong about this. As

791
00:37:43,960 --> 00:37:47,720
Speaker 1: the market is tanking right, the Dall's down fifteen hundred points,

792
00:37:47,800 --> 00:37:49,840
Speaker 1: you know, reporters are asking him about it, and he said, no,

793
00:37:49,920 --> 00:37:50,799
Speaker 1: the market's looking great.

794
00:37:51,080 --> 00:37:52,520
Speaker 3: There's going to be a boom in the market. And

795
00:37:52,560 --> 00:37:54,360
Speaker 3: it just feels like a level of delusion.

796
00:37:54,640 --> 00:37:58,280
Speaker 1: Even to the point where we're talking about making jobs

797
00:37:58,320 --> 00:38:01,680
Speaker 1: come back to America and kill before you we would

798
00:38:01,719 --> 00:38:04,760
Speaker 1: kind of lou into it, like does that even feel

799
00:38:04,800 --> 00:38:05,799
Speaker 1: fathomable at this point?

800
00:38:05,920 --> 00:38:06,080
Speaker 2: Right?

801
00:38:06,120 --> 00:38:08,239
Speaker 1: The amount of time that it would take to build

802
00:38:08,280 --> 00:38:10,480
Speaker 1: some of these jobs. I know Nike took a crazy

803
00:38:10,560 --> 00:38:14,000
Speaker 1: hit Apple, Does this feel like something that is even

804
00:38:14,040 --> 00:38:16,879
Speaker 1: feasible over the next five years, because yeah, ten fifteen years,

805
00:38:16,920 --> 00:38:19,480
Speaker 1: you can build factory, you can build industry, but by

806
00:38:19,480 --> 00:38:22,839
Speaker 1: that time it won't These companies are going to take

807
00:38:22,880 --> 00:38:26,560
Speaker 1: such a financial hit people, the customers. Obviously, if the

808
00:38:26,560 --> 00:38:28,280
Speaker 1: companies is taking a hit, they're going to raise prices.

809
00:38:28,560 --> 00:38:30,239
Speaker 1: People are going to feel the impact. Is it even

810
00:38:30,280 --> 00:38:32,239
Speaker 1: feasible to do bring these jobs back?

811
00:38:32,640 --> 00:38:36,200
Speaker 6: Well, we've only got like thirteen million manufacturing jobs in

812
00:38:36,200 --> 00:38:38,239
Speaker 6: this country right now. That's down from like twenty million.

813
00:38:38,280 --> 00:38:40,200
Speaker 6: Even the President alluded to it himself. But there's a

814
00:38:40,239 --> 00:38:42,400
Speaker 6: reason a lot of people don't want those jobs. They

815
00:38:42,400 --> 00:38:45,120
Speaker 6: don't pay that well. They're really hard jobs, right, They're

816
00:38:45,200 --> 00:38:48,880
Speaker 6: very difficult, they're physically difficult, they require a lot of hours,

817
00:38:48,960 --> 00:38:51,680
Speaker 6: they don't pay that great. There's no more pensions anymore.

818
00:38:51,920 --> 00:38:53,920
Speaker 6: So who was doing those jobs. A lot of the

819
00:38:54,560 --> 00:38:57,359
Speaker 6: people that immigrated into the United States, the same people

820
00:38:57,440 --> 00:38:59,400
Speaker 6: he wants to send out of the United States, were

821
00:38:59,440 --> 00:39:02,960
Speaker 6: actually taking those jobs, right. So getting building the factories

822
00:39:03,000 --> 00:39:05,560
Speaker 6: is one thing. Creating factories where you can pay a

823
00:39:05,719 --> 00:39:08,520
Speaker 6: really livable a real livable wage, where somebody can raise

824
00:39:08,520 --> 00:39:10,480
Speaker 6: a family on it and maybe god forbid, own a

825
00:39:10,480 --> 00:39:12,680
Speaker 6: home at some point in time. That's asking a lot

826
00:39:12,719 --> 00:39:16,440
Speaker 6: of companies who are measured on a quarterly basis based

827
00:39:16,440 --> 00:39:19,359
Speaker 6: on their bottom line, right, they are responsible to shareholders.

828
00:39:19,480 --> 00:39:22,759
Speaker 6: So when you have a shareholder mentality, right, and you

829
00:39:22,800 --> 00:39:25,000
Speaker 6: have to answer to them every single quarter and increase

830
00:39:25,040 --> 00:39:28,040
Speaker 6: your you know, your projections and your your forecast going

831
00:39:28,080 --> 00:39:31,280
Speaker 6: forward and keep beating the street. And Frank knows as well, well,

832
00:39:31,440 --> 00:39:33,040
Speaker 6: you're not going to pay the best wages. You're going

833
00:39:33,120 --> 00:39:35,760
Speaker 6: to You're going to find the cheapest source of labor

834
00:39:36,000 --> 00:39:38,040
Speaker 6: that you can. And that cheap source of labor has

835
00:39:38,040 --> 00:39:41,040
Speaker 6: been Mexico, that has been Vietnam, that has been China,

836
00:39:41,040 --> 00:39:43,640
Speaker 6: that has been anywhere but here. So you're asking companies

837
00:39:43,680 --> 00:39:45,960
Speaker 6: to pay a lot more for that. And by putting

838
00:39:45,960 --> 00:39:48,400
Speaker 6: tariffs on products coming into this country and now the

839
00:39:48,400 --> 00:39:51,240
Speaker 6: retaliatory of tariffs, you're not solving that part of the problem.

840
00:39:51,400 --> 00:39:52,960
Speaker 6: The part of the problem that we have to solve

841
00:39:53,040 --> 00:39:55,719
Speaker 6: is are they responsible to their shareholders where they're responsible

842
00:39:55,760 --> 00:39:58,160
Speaker 6: to their communities, or are they responsible to the United

843
00:39:58,160 --> 00:40:00,680
Speaker 6: States to provide living wages for people so they can

844
00:40:00,760 --> 00:40:03,000
Speaker 6: raise families and disconnect.

845
00:40:03,120 --> 00:40:05,799
Speaker 2: You can't have it both ways. You can't well, I mean,

846
00:40:05,840 --> 00:40:10,640
Speaker 2: you can't have a capitalist society and then say well,

847
00:40:11,000 --> 00:40:14,760
Speaker 2: we want everything to work fairly. That's not how capitalism works.

848
00:40:15,600 --> 00:40:18,759
Speaker 2: This isn't. This isn't. You can't be anti socialism and

849
00:40:18,880 --> 00:40:22,680
Speaker 2: anti communism and say we want everybody equal. We want

850
00:40:22,719 --> 00:40:25,320
Speaker 2: to know the capitalist society is to make the most

851
00:40:25,400 --> 00:40:28,960
Speaker 2: money as possible by spending as least money as possible.

852
00:40:29,120 --> 00:40:32,680
Speaker 2: They're not doing anything illegal. It's not good business to

853
00:40:32,800 --> 00:40:37,000
Speaker 2: spend billions of dollars more than you need to. It's

854
00:40:37,280 --> 00:40:41,000
Speaker 2: more efficient to get the job done in those other

855
00:40:41,080 --> 00:40:44,200
Speaker 2: countries because you can pay the people less. This is

856
00:40:44,280 --> 00:40:46,439
Speaker 2: I mean, we don't have to sugarcoat it, right. It's

857
00:40:46,480 --> 00:40:48,840
Speaker 2: more efficient to get the job done in other countries

858
00:40:48,880 --> 00:40:51,839
Speaker 2: because you can pay the people less and you can

859
00:40:51,920 --> 00:40:55,640
Speaker 2: produce the products quicker, less red tape. You don't have

860
00:40:55,680 --> 00:40:58,560
Speaker 2: to go through regulation. They don't. It's a variety of

861
00:40:58,560 --> 00:41:00,640
Speaker 2: different factors. It's just like if you're building a home,

862
00:41:00,840 --> 00:41:04,000
Speaker 2: it's more effective to have illegal immigrants build a home

863
00:41:04,480 --> 00:41:08,000
Speaker 2: because they don't have health benefits, they're not part of

864
00:41:08,040 --> 00:41:10,160
Speaker 2: a union, and you can pay the people. Let's now,

865
00:41:10,280 --> 00:41:12,319
Speaker 2: is that morally right or wrong? You can make an

866
00:41:12,400 --> 00:41:14,040
Speaker 2: argument on both sides, because on one side you can

867
00:41:14,080 --> 00:41:15,600
Speaker 2: say it's morally wrong. On the other side, you can

868
00:41:15,600 --> 00:41:17,000
Speaker 2: say it's better than what they would get in the

869
00:41:17,000 --> 00:41:19,360
Speaker 2: other country. That's why they came to this country. So

870
00:41:19,560 --> 00:41:22,200
Speaker 2: it's not It may not be what you're looking for,

871
00:41:22,480 --> 00:41:26,040
Speaker 2: but you're not them, So this is not I don't

872
00:41:26,160 --> 00:41:29,840
Speaker 2: understand this, but this is easy for people. If you

873
00:41:29,920 --> 00:41:32,640
Speaker 2: haven't employed somebody, you don't have a full appreciation of this.

874
00:41:33,160 --> 00:41:36,440
Speaker 2: If you are an employer, then you look at you

875
00:41:36,480 --> 00:41:41,560
Speaker 2: look at things differently. So none of these companies are

876
00:41:41,680 --> 00:41:44,760
Speaker 2: going to be happy about spending more money.

877
00:41:45,040 --> 00:41:48,960
Speaker 1: Yeah right, I'm gonna come to you because you've been

878
00:41:48,960 --> 00:41:51,319
Speaker 1: You've spoken to CEOs. Right, we looked at the first quarter,

879
00:41:51,360 --> 00:41:53,080
Speaker 1: it was a negative quarter, and now you know we're

880
00:41:53,080 --> 00:41:56,239
Speaker 1: starting quarter too. I would CEOs even looking at their

881
00:41:56,239 --> 00:41:58,960
Speaker 1: p and ls at this point, right with the tariffs

882
00:41:58,960 --> 00:42:02,400
Speaker 1: that every day, it's que to how people going to

883
00:42:02,480 --> 00:42:05,400
Speaker 1: even be reporting their earnings. Obviously you're gonna have to

884
00:42:05,800 --> 00:42:08,719
Speaker 1: you're losing You're gonna lose employees, right, you're gonna make

885
00:42:08,800 --> 00:42:11,240
Speaker 1: less money. What does this look like in the CEO

886
00:42:11,360 --> 00:42:16,040
Speaker 1: world when Q two ends in June and this number

887
00:42:16,040 --> 00:42:17,400
Speaker 1: comes in, Well, we've.

888
00:42:17,280 --> 00:42:19,719
Speaker 5: Already seen CEOs just respond to some of this before

889
00:42:19,719 --> 00:42:22,040
Speaker 5: the terist were announced. Their guidance is pretty weak, which

890
00:42:22,160 --> 00:42:25,160
Speaker 5: often leads to their stock not doing well after earnings.

891
00:42:25,160 --> 00:42:28,480
Speaker 5: Even if the numbers for their earnings they're reporting are

892
00:42:28,520 --> 00:42:30,239
Speaker 5: fine for the quarter of their reporting are fine, the

893
00:42:30,239 --> 00:42:32,040
Speaker 5: guidance is weak. That leads to us off in some

894
00:42:32,080 --> 00:42:33,440
Speaker 5: of the stock. So that's one of the reasons we've

895
00:42:33,440 --> 00:42:35,719
Speaker 5: seen a lot of volatility, but very quickly, I want

896
00:42:35,719 --> 00:42:37,799
Speaker 5: to go back to Rashad's point for just a minute. Yet,

897
00:42:37,840 --> 00:42:39,880
Speaker 5: we're a capitalist country, but we're not pure it's not

898
00:42:39,920 --> 00:42:43,360
Speaker 5: pure play capitalist situation. Remember back during the Great Financial Crisis,

899
00:42:43,400 --> 00:42:45,239
Speaker 5: we built out the banks, So if we were a

900
00:42:45,239 --> 00:42:47,520
Speaker 5: capitalist country, the banks they made a lot of risky bets.

901
00:42:47,560 --> 00:42:48,120
Speaker 4: They lost.

902
00:42:48,680 --> 00:42:51,920
Speaker 5: They bet on housing, uh in the mortgage backed securities,

903
00:42:52,520 --> 00:42:54,400
Speaker 5: and they put them together in a way that just

904
00:42:54,600 --> 00:42:57,160
Speaker 5: wasn't solvent. They lost. So why don't Why didn't we

905
00:42:57,200 --> 00:42:59,160
Speaker 5: just let the banks go bankrupt? Because that's not that's

906
00:42:59,200 --> 00:43:01,200
Speaker 5: not going to work states because people have their money

907
00:43:01,200 --> 00:43:03,040
Speaker 5: in the banks. Why don't we let the auto industry

908
00:43:03,040 --> 00:43:05,480
Speaker 5: go bankrupt? Well, the audiancestry has tentacles and so many

909
00:43:05,480 --> 00:43:07,800
Speaker 5: other industries. Like we're seeing right now with the tarots,

910
00:43:07,840 --> 00:43:10,880
Speaker 5: it'd being impacted. If all the automakers went out of business,

911
00:43:10,960 --> 00:43:13,560
Speaker 5: it would lead to restaurants going out of business, the

912
00:43:13,600 --> 00:43:15,760
Speaker 5: trucking companies that ship the parts going out of business.

913
00:43:15,800 --> 00:43:18,960
Speaker 5: So we're not a pure play capitalist country. And I

914
00:43:18,960 --> 00:43:21,279
Speaker 5: think that's what a lot of CEOs are trying to

915
00:43:21,280 --> 00:43:23,000
Speaker 5: figure out, at least the ones I'm talking to. They're

916
00:43:23,040 --> 00:43:26,640
Speaker 5: trying to balance understanding the president's objective as much as

917
00:43:26,680 --> 00:43:28,040
Speaker 5: they can. A lot of them in that they're pretty

918
00:43:28,080 --> 00:43:30,879
Speaker 5: confused about the terror, specifically with Mexico and Canada when

919
00:43:30,920 --> 00:43:33,719
Speaker 5: he's the one that did USMCA, and doing what's right

920
00:43:33,760 --> 00:43:35,960
Speaker 5: for the company and trying not to lay off workers

921
00:43:36,000 --> 00:43:37,879
Speaker 5: and trying to keep products on the shelves and things

922
00:43:37,960 --> 00:43:40,480
Speaker 5: like that. So it's multi tiered. I feel like they're

923
00:43:40,520 --> 00:43:43,280
Speaker 5: almost as confused as we are, except, as you mentioned, Rashan,

924
00:43:43,560 --> 00:43:46,360
Speaker 5: they have the responsibility of a workforce, of a board

925
00:43:46,440 --> 00:43:49,319
Speaker 5: of shareholders that they have to try to balance. So

926
00:43:49,400 --> 00:43:51,239
Speaker 5: I think this earning season that's starting up in about

927
00:43:51,239 --> 00:43:52,800
Speaker 5: a week and a half is going to be pretty interesting.

928
00:43:52,840 --> 00:43:55,040
Speaker 5: The banks come up first, so the bank's going to

929
00:43:55,080 --> 00:43:57,759
Speaker 5: give us a lot of insight into loan demand, the

930
00:43:57,800 --> 00:44:02,120
Speaker 5: willingness of companies to go public, the credit situation, I mean,

931
00:44:02,160 --> 00:44:03,640
Speaker 5: a whole lot of things. We're gonna get a great

932
00:44:03,640 --> 00:44:06,120
Speaker 5: read on the economy. I think it's the first day.

933
00:44:06,160 --> 00:44:08,879
Speaker 5: I think it's City and JP Morgan that report. Don't mind,

934
00:44:08,960 --> 00:44:10,560
Speaker 5: we need to correct me. I might be wrong about that,

935
00:44:10,920 --> 00:44:13,040
Speaker 5: but two big banks will give us a lot of insight.

936
00:44:13,480 --> 00:44:16,400
Speaker 2: So okay, So let's go to this part because this

937
00:44:16,480 --> 00:44:19,799
Speaker 2: is the opportunities in every crisis. So I do want

938
00:44:19,840 --> 00:44:21,480
Speaker 2: to because you know when I came when I when

939
00:44:21,520 --> 00:44:23,840
Speaker 2: I used to be a financial advisor, and I started

940
00:44:23,880 --> 00:44:27,759
Speaker 2: during the I literally started my career during the Great Recession.

941
00:44:29,280 --> 00:44:31,440
Speaker 2: It was actually a good time to start because I

942
00:44:31,440 --> 00:44:34,200
Speaker 2: had nowhere to go but up, and I was putting

943
00:44:34,200 --> 00:44:36,920
Speaker 2: clients in mutual funds and five twenty nine plans, in

944
00:44:36,960 --> 00:44:40,719
Speaker 2: a variety of different things. And a lot of these

945
00:44:40,719 --> 00:44:43,319
Speaker 2: people had never invested in the stock market before, so

946
00:44:43,400 --> 00:44:45,239
Speaker 2: it was the first time invested in the stock market.

947
00:44:45,320 --> 00:44:47,399
Speaker 2: They was investing when the stock market was down thirty

948
00:44:48,080 --> 00:44:52,200
Speaker 2: five percent, and it worked out for them. So there

949
00:44:52,239 --> 00:44:55,560
Speaker 2: is opportunities in every crisis, and this is definitely a crisis.

950
00:44:55,920 --> 00:44:58,399
Speaker 2: So let's let's let's go to let's go through these

951
00:44:58,480 --> 00:45:05,600
Speaker 2: different ones. Flank Frank, Flank, Think, Think, Think black Rock COO.

952
00:45:07,560 --> 00:45:15,880
Speaker 2: He made interesting commentary about bitcoin, and this is interesting.

953
00:45:15,880 --> 00:45:20,959
Speaker 2: Bitcoin is interesting because usually bitcoin, traditionally, previously it wasn't

954
00:45:20,960 --> 00:45:24,239
Speaker 2: directly tied to world economies and the US dollar, but

955
00:45:24,280 --> 00:45:26,120
Speaker 2: now we see it's like a direct correlation. When the

956
00:45:26,120 --> 00:45:29,240
Speaker 2: stock market goes down, bitcoin goes down. They don't move opposite.

957
00:45:29,520 --> 00:45:32,399
Speaker 2: Gold has been going opposite. But bitcoin is pretty much

958
00:45:32,520 --> 00:45:35,960
Speaker 2: like a tech company at this point. It moves as

959
00:45:36,000 --> 00:45:39,920
Speaker 2: the stock market moves, and today it was down. But

960
00:45:41,760 --> 00:45:44,280
Speaker 2: do you see a world where this is actually beneficial

961
00:45:44,360 --> 00:45:46,959
Speaker 2: for bitcoin with the dollar because the dollar went down also,

962
00:45:47,000 --> 00:45:49,640
Speaker 2: that's another thing, Harris, are actually supposed to make the

963
00:45:49,680 --> 00:45:52,600
Speaker 2: dollars stronger, from my understanding, But in this case, the

964
00:45:52,680 --> 00:45:56,040
Speaker 2: dollar is actually decreasing, right, And I guess a lot

965
00:45:56,120 --> 00:45:58,560
Speaker 2: of that is just world sentiment that's kind of turning

966
00:45:58,640 --> 00:46:00,800
Speaker 2: negative across America. But then variety of other things that

967
00:46:00,840 --> 00:46:06,799
Speaker 2: you talked about. So okay, in this world of this

968
00:46:06,880 --> 00:46:10,640
Speaker 2: is hurtful to America for sure, what could this be

969
00:46:10,640 --> 00:46:11,800
Speaker 2: beneficial for bitcoin?

970
00:46:14,320 --> 00:46:14,799
Speaker 4: Okay, I'll hep.

971
00:46:14,880 --> 00:46:16,560
Speaker 6: You want to take it first, I'll take it first.

972
00:46:16,680 --> 00:46:20,080
Speaker 6: I mean, we know that fifty odd million people own

973
00:46:20,200 --> 00:46:22,560
Speaker 6: crypto in some way, shape or form, But we also

974
00:46:22,719 --> 00:46:25,560
Speaker 6: know that the top one percent owned the most of it, right,

975
00:46:25,719 --> 00:46:28,120
Speaker 6: and a lot of bitcoin is owned by publicly traded

976
00:46:28,160 --> 00:46:30,120
Speaker 6: companies like the micro strategies of the world that are

977
00:46:30,120 --> 00:46:33,840
Speaker 6: basically bitcoin treasuries. Even Tesla is like a bitcoin treasury,

978
00:46:34,120 --> 00:46:36,840
Speaker 6: so could be good just because of the scarcity aspect

979
00:46:36,880 --> 00:46:38,719
Speaker 6: of it all. And we used to live in this

980
00:46:38,760 --> 00:46:42,080
Speaker 6: world called Tina. Right, there is no alternative to stocks

981
00:46:42,280 --> 00:46:45,319
Speaker 6: because interest rates were solow. There was just stocks. Right,

982
00:46:45,520 --> 00:46:47,520
Speaker 6: You'd be a fool to invest in anything else. Until

983
00:46:47,719 --> 00:46:50,520
Speaker 6: bitcoin came along after the Great Financial Crisis. Well, now

984
00:46:50,520 --> 00:46:53,640
Speaker 6: you have this alternative asset. But for most people, they

985
00:46:53,640 --> 00:46:57,440
Speaker 6: don't know how to turn bitcoin whatever bitcoin owling is

986
00:46:57,440 --> 00:47:01,600
Speaker 6: they have into usable fiat to pay their utility bill. Right,

987
00:47:01,640 --> 00:47:04,200
Speaker 6: we still aren't at that level where it's just something

988
00:47:04,239 --> 00:47:06,480
Speaker 6: I can just oh, I'll just Apple pay with my

989
00:47:06,600 --> 00:47:09,200
Speaker 6: bitcoin right now. Now you can in a very few cases.

990
00:47:09,400 --> 00:47:10,879
Speaker 6: But when we're talking about the people that are going

991
00:47:10,880 --> 00:47:15,280
Speaker 6: get hurt the most by rising prices, stagflation, a potential recession,

992
00:47:15,600 --> 00:47:18,200
Speaker 6: higher tariffs, bitcoin is not going to be the answer

993
00:47:18,239 --> 00:47:20,719
Speaker 6: for them. So won't have that type of demand, that

994
00:47:20,840 --> 00:47:24,279
Speaker 6: mass demand, like we thought it would at some point

995
00:47:24,320 --> 00:47:28,319
Speaker 6: in time. At the same time, this is a deregulatory

996
00:47:29,160 --> 00:47:32,760
Speaker 6: administration that has been promising to stock file bitcoin added

997
00:47:32,760 --> 00:47:35,919
Speaker 6: to the reserves mind its own bitcoin, and I bet

998
00:47:35,960 --> 00:47:38,200
Speaker 6: you will eventually let it into our four to one

999
00:47:38,280 --> 00:47:40,920
Speaker 6: case fidelity all that announced that today or yesterday. You

1000
00:47:40,920 --> 00:47:43,520
Speaker 6: can now have bitcoin in your four to one k

1001
00:47:43,640 --> 00:47:45,160
Speaker 6: if you want. So. It is going to become a

1002
00:47:45,200 --> 00:47:47,120
Speaker 6: little bit more ubiquitous, but it's not going to become

1003
00:47:47,120 --> 00:47:49,480
Speaker 6: more useful. And I think right now we need a

1004
00:47:49,480 --> 00:47:53,359
Speaker 6: really useful currency and a dependable currency to get through

1005
00:47:53,400 --> 00:47:55,160
Speaker 6: any type of crisis that we're going to go through.

1006
00:47:55,200 --> 00:47:57,320
Speaker 6: It's not going to be the answer for the masses.

1007
00:47:57,360 --> 00:47:58,960
Speaker 6: It's going to be the answer for the very rich.

1008
00:47:59,160 --> 00:48:02,280
Speaker 6: And that's another thing that makes me wonder. Like usually

1009
00:48:02,360 --> 00:48:06,040
Speaker 6: the stock market falling, you know, into a correction, was

1010
00:48:06,480 --> 00:48:09,080
Speaker 6: a stoplight for President Trump and Trump one point zero,

1011
00:48:09,200 --> 00:48:13,120
Speaker 6: it's not anymore right. The tenure treasury yield spiking used

1012
00:48:13,160 --> 00:48:16,239
Speaker 6: to be oh, you know, maybe we've gone too far here,

1013
00:48:16,400 --> 00:48:20,120
Speaker 6: it's not anymore. Why is that they're deep into cryptocurrencies

1014
00:48:20,120 --> 00:48:23,839
Speaker 6: in that administration in person, the Trump coin, the Millennia coin,

1015
00:48:23,920 --> 00:48:27,160
Speaker 6: the family, all the different ETFs that they have associated

1016
00:48:27,200 --> 00:48:29,399
Speaker 6: with their coins and their meme coins. Maybe they don't

1017
00:48:29,400 --> 00:48:32,320
Speaker 6: really care about what has been traditional ways of growing

1018
00:48:32,320 --> 00:48:35,240
Speaker 6: wealth in this country because they're into it digitally, and

1019
00:48:35,280 --> 00:48:37,680
Speaker 6: again they're just here for now. I don't know.

1020
00:48:38,600 --> 00:48:40,800
Speaker 1: It definitely feels and this is why I feel like

1021
00:48:40,840 --> 00:48:44,279
Speaker 1: there's something that that savior complex is coming into play

1022
00:48:44,320 --> 00:48:44,839
Speaker 1: at some point.

1023
00:48:45,040 --> 00:48:46,799
Speaker 3: It's just a matter of time, right, There was a

1024
00:48:46,840 --> 00:48:47,719
Speaker 3: time in Trump one point.

1025
00:48:47,760 --> 00:48:50,160
Speaker 1: Oh, like you said, if the market was going down,

1026
00:48:50,880 --> 00:48:53,200
Speaker 1: it was a concerning issue. Right to hear him say

1027
00:48:53,200 --> 00:48:55,200
Speaker 1: that the market is looking great as a tal is

1028
00:48:55,200 --> 00:48:57,560
Speaker 1: down fifteen hundred points and the NASSAQ is down a

1029
00:48:57,600 --> 00:49:00,920
Speaker 1: thousand points, it's concerning, right. And the people that you

1030
00:49:01,080 --> 00:49:02,680
Speaker 1: said it's going to affect, and I'll let both of

1031
00:49:02,680 --> 00:49:05,080
Speaker 1: you guys can answer, are the middle class. Right, So

1032
00:49:05,120 --> 00:49:07,200
Speaker 1: when we're talking about the jobs coming back, and we're

1033
00:49:07,200 --> 00:49:10,560
Speaker 1: talking about living wages, we're talking about government funding being cut,

1034
00:49:10,560 --> 00:49:14,880
Speaker 1: we're talking about grow government programming being cut, that directly

1035
00:49:14,880 --> 00:49:17,160
Speaker 1: affects the middle class. And so obviously a lot of

1036
00:49:17,160 --> 00:49:19,520
Speaker 1: people who are watching him tonight are part of that class.

1037
00:49:20,920 --> 00:49:23,040
Speaker 3: What is the solace that they can take in this

1038
00:49:23,120 --> 00:49:24,200
Speaker 3: at this point?

1039
00:49:25,880 --> 00:49:27,759
Speaker 4: Man, I mean, is there any solace right now? I

1040
00:49:27,760 --> 00:49:29,839
Speaker 4: think it's hard to find any solace right now. I'm

1041
00:49:29,880 --> 00:49:30,839
Speaker 4: not sure about that one.

1042
00:49:30,880 --> 00:49:31,040
Speaker 1: Man.

1043
00:49:31,880 --> 00:49:34,680
Speaker 5: I'm gonna jump off of Kelp's point really quick. Kelp,

1044
00:49:34,680 --> 00:49:37,000
Speaker 5: to your point, Trump family is deep into crypto. I mean,

1045
00:49:37,120 --> 00:49:39,680
Speaker 5: Eric Trump, I think a couple maybe it was yesterday

1046
00:49:39,719 --> 00:49:41,480
Speaker 5: came out the headline saying that he was thinking about

1047
00:49:41,520 --> 00:49:45,520
Speaker 5: turning the family business, pivoting it filly into crypto. He's

1048
00:49:45,560 --> 00:49:50,400
Speaker 5: launching a bitcoin mining company, just doing a lot with cryptocurrencies. Overall,

1049
00:49:50,840 --> 00:49:52,680
Speaker 5: I think when it comes to bitcoin, least for right now,

1050
00:49:52,719 --> 00:49:54,799
Speaker 5: I don't think it's the moment for bitcoin. This is

1051
00:49:54,800 --> 00:49:57,840
Speaker 5: again my personal opinion, Caleb. Again to your point, a

1052
00:49:57,840 --> 00:50:00,120
Speaker 5: lot of those bigcoin buyers, they were institutional buying, as

1053
00:50:00,160 --> 00:50:00,640
Speaker 5: they were.

1054
00:50:00,520 --> 00:50:01,680
Speaker 4: Companies and things like that.

1055
00:50:02,000 --> 00:50:04,640
Speaker 5: Right now, people are trying to de risk their balance

1056
00:50:04,640 --> 00:50:08,200
Speaker 5: sheets and de risk their portfolios, whether you're a tech

1057
00:50:08,200 --> 00:50:12,000
Speaker 5: company like a Tesla or you're an institutional big bank

1058
00:50:12,120 --> 00:50:15,080
Speaker 5: doing it right now. And also they found their new thing,

1059
00:50:15,360 --> 00:50:18,439
Speaker 5: private credit. You saw a private credit ETF come out.

1060
00:50:19,000 --> 00:50:21,880
Speaker 5: So I think a lot of the interest when it

1061
00:50:21,920 --> 00:50:24,760
Speaker 5: comes to institutional buyers is private credit, which is basically

1062
00:50:24,800 --> 00:50:29,880
Speaker 5: private debt, loaning people money at high rates with basically

1063
00:50:31,160 --> 00:50:33,960
Speaker 5: higher levels of like collateral or you know, like you

1064
00:50:33,960 --> 00:50:35,920
Speaker 5: buy a house, you might put down ten percent, Well,

1065
00:50:35,920 --> 00:50:37,520
Speaker 5: a private credit deal might be you have to put

1066
00:50:37,520 --> 00:50:40,480
Speaker 5: down fifty percent or give collateral up to fifty percent.

1067
00:50:40,760 --> 00:50:43,160
Speaker 5: So that's becoming a lot more of a lucrative part

1068
00:50:43,160 --> 00:50:44,839
Speaker 5: of the market and also an area where they're trying

1069
00:50:44,840 --> 00:50:48,080
Speaker 5: to get They're hoping to get retail investors through ETFs,

1070
00:50:48,120 --> 00:50:51,440
Speaker 5: but institutional investors, a lot of money managers are pushing

1071
00:50:51,480 --> 00:50:54,799
Speaker 5: them towards private credit. So it seems like Wall Street,

1072
00:50:54,880 --> 00:50:57,000
Speaker 5: you know, they just find new things. Whether back in

1073
00:50:57,000 --> 00:51:00,680
Speaker 5: the day it was mortgage backed securities, now it's private

1074
00:51:00,680 --> 00:51:02,799
Speaker 5: credit for while this is a bitcoin ETF. So I

1075
00:51:02,840 --> 00:51:04,480
Speaker 5: just don't know if right now it's the time for bitcoin.

1076
00:51:04,480 --> 00:51:06,600
Speaker 5: I'm gonna be honest, I'm not a big cryptocurrency person.

1077
00:51:06,640 --> 00:51:10,160
Speaker 5: I hold some just to diversify my portfolio, but I'm

1078
00:51:10,160 --> 00:51:11,960
Speaker 5: not really sure which one's gonna win. I don't think

1079
00:51:12,000 --> 00:51:13,799
Speaker 5: any of us know which one's gonna win long term,

1080
00:51:13,880 --> 00:51:16,440
Speaker 5: or bitcoin will even be a thing ten years from now.

1081
00:51:16,480 --> 00:51:18,360
Speaker 5: Maybe it'll be all about a theorem or solana.

1082
00:51:18,400 --> 00:51:21,840
Speaker 4: I'm not really sure, right.

1083
00:51:21,640 --> 00:51:26,120
Speaker 6: So, what is the asset besides your home that working

1084
00:51:26,160 --> 00:51:28,239
Speaker 6: families can hold on to to try to continue to

1085
00:51:28,239 --> 00:51:30,799
Speaker 6: build wealth and pass it on to jet their generations.

1086
00:51:30,840 --> 00:51:34,279
Speaker 6: We've been teaching people for fifty sixty seventy years about

1087
00:51:34,280 --> 00:51:36,839
Speaker 6: the stock market. First it was mutual funds, right then

1088
00:51:36,880 --> 00:51:40,000
Speaker 6: it was index funds. Then it was ETFs, right, and

1089
00:51:40,080 --> 00:51:43,880
Speaker 6: now there's half as many stocks on the publicly traded

1090
00:51:43,920 --> 00:51:45,840
Speaker 6: markets then there used to be. Why is that, frank,

1091
00:51:46,200 --> 00:51:47,840
Speaker 6: Because it's a pain in the ass to be a

1092
00:51:47,840 --> 00:51:52,359
Speaker 6: publicly traded company managing quarter to quarter right, shareholders up

1093
00:51:52,400 --> 00:51:55,200
Speaker 6: your butt, increasing your forecast going forward? What's wrong with

1094
00:51:55,239 --> 00:51:57,799
Speaker 6: your profit margins? You know, how come you don't have

1095
00:51:57,920 --> 00:52:00,719
Speaker 6: enough DEI or whatever. It's a really hard thing to

1096
00:52:00,719 --> 00:52:02,759
Speaker 6: be a publicly traded company in this country. There's a

1097
00:52:02,760 --> 00:52:04,640
Speaker 6: ton of regulation. Now they're going to remove some of that.

1098
00:52:05,000 --> 00:52:08,279
Speaker 6: And at the same time, you know, if there's not

1099
00:52:08,320 --> 00:52:09,880
Speaker 6: going to be if there's going to be less publicly

1100
00:52:09,920 --> 00:52:13,080
Speaker 6: traded companies, and Wall Street keeps inventing new things to

1101
00:52:13,160 --> 00:52:16,920
Speaker 6: sell us in the form of private creditor or private

1102
00:52:16,920 --> 00:52:19,640
Speaker 6: equity in an ETF rapper, which is like, you know,

1103
00:52:19,960 --> 00:52:23,080
Speaker 6: my friend Tyrone says, it's like putting a putting a

1104
00:52:23,160 --> 00:52:27,279
Speaker 6: Ferrari engine in a in like a buick, right, It's

1105
00:52:27,280 --> 00:52:29,239
Speaker 6: like you're not going to get the most out of it.

1106
00:52:29,640 --> 00:52:31,600
Speaker 6: What are they doing that for? They're finding different ways

1107
00:52:31,600 --> 00:52:34,360
Speaker 6: to securitize things because the things that we have grown

1108
00:52:34,480 --> 00:52:36,759
Speaker 6: up investing in that where the building blocks of our

1109
00:52:36,800 --> 00:52:40,440
Speaker 6: wealth are becoming scarcer, and now the public markets, I'm afraid,

1110
00:52:40,480 --> 00:52:41,879
Speaker 6: are becoming less trustworthy.

1111
00:52:44,200 --> 00:52:44,600
Speaker 4: Yeah, I don't.

1112
00:52:44,600 --> 00:52:45,360
Speaker 2: I don't have an answer.

1113
00:52:46,000 --> 00:52:48,919
Speaker 5: Obviously, your your personal residence is a great investment because

1114
00:52:48,920 --> 00:52:51,440
Speaker 5: you can live in it, and ideally it also appreciates

1115
00:52:51,920 --> 00:52:53,640
Speaker 5: the other areas. I'm not sure. I think it just

1116
00:52:53,680 --> 00:52:56,040
Speaker 5: really depends. I mean, education is always a great investment,

1117
00:52:56,040 --> 00:52:58,239
Speaker 5: but the question is what is that education? College doesn't

1118
00:52:58,280 --> 00:53:00,440
Speaker 5: seem to make the same sense, and once did. I

1119
00:53:00,480 --> 00:53:02,719
Speaker 5: know a lot of people that graduate in debt and

1120
00:53:02,960 --> 00:53:05,600
Speaker 5: aren't really on a trajectory to ever get out of

1121
00:53:05,640 --> 00:53:07,080
Speaker 5: debt with the money that they're going to make if

1122
00:53:07,080 --> 00:53:09,920
Speaker 5: they plan to live even just a middle class lifestyle.

1123
00:53:10,080 --> 00:53:11,680
Speaker 5: You know, it's one thing if you go to college

1124
00:53:11,680 --> 00:53:13,200
Speaker 5: and you're going to live in a shack somewhere and

1125
00:53:13,239 --> 00:53:15,319
Speaker 5: save every penny, But who really wants to do that

1126
00:53:15,360 --> 00:53:16,720
Speaker 5: after spending four years to college.

1127
00:53:16,840 --> 00:53:19,320
Speaker 6: I do believe that stocks are still I still believe

1128
00:53:19,320 --> 00:53:22,120
Speaker 6: the stock market is going to eventually return to some

1129
00:53:22,200 --> 00:53:23,879
Speaker 6: sort of a mean return. I don't know if it'll

1130
00:53:23,920 --> 00:53:25,200
Speaker 6: be the twelve I'll.

1131
00:53:25,120 --> 00:53:27,240
Speaker 4: That you men outside of stocks though, yeah, outside of stocks,

1132
00:53:27,320 --> 00:53:27,759
Speaker 4: don't you.

1133
00:53:27,640 --> 00:53:30,400
Speaker 5: Think stocks are a great investment, especially over the long term,

1134
00:53:30,560 --> 00:53:32,279
Speaker 5: if you're willing to hold. Like all my show, I

1135
00:53:32,320 --> 00:53:34,120
Speaker 5: often question people they go, I'm a long term investment.

1136
00:53:34,120 --> 00:53:36,040
Speaker 5: I'm like, okay, but this is a show for people

1137
00:53:36,040 --> 00:53:38,759
Speaker 5: looking to make some short term and intermediate moves. But

1138
00:53:38,800 --> 00:53:41,120
Speaker 5: in general, holding stocks over the long term is the

1139
00:53:41,239 --> 00:53:43,719
Speaker 5: safest investment by far has been.

1140
00:53:44,280 --> 00:53:48,120
Speaker 2: Yeah, for sure, Okay, I'm glad you guys said that

1141
00:53:48,160 --> 00:53:52,240
Speaker 2: because they called me a doomsday alarmist a lot of times.

1142
00:53:52,280 --> 00:53:56,840
Speaker 2: But mean, thanks Frank for being honest. It's pretty consistent.

1143
00:53:58,560 --> 00:54:01,160
Speaker 2: How do you feel about investing right now as far

1144
00:54:01,200 --> 00:54:05,239
Speaker 2: as companies. Are you deploying money into the market right

1145
00:54:05,239 --> 00:54:08,279
Speaker 2: now or are you Because I'm always putting money into

1146
00:54:08,280 --> 00:54:11,800
Speaker 2: the market. My theory is that you have to force

1147
00:54:11,840 --> 00:54:14,600
Speaker 2: yourself to put money into the stock market every single month.

1148
00:54:14,960 --> 00:54:20,200
Speaker 2: That's my theory. So I'm a big believer in dollar

1149
00:54:20,239 --> 00:54:25,840
Speaker 2: cost averaging. Now, sometimes you put money in some things,

1150
00:54:25,880 --> 00:54:27,839
Speaker 2: you might not put money in other things. Right Like,

1151
00:54:27,920 --> 00:54:30,360
Speaker 2: I might see an opportunity where it's like, Okay, well,

1152
00:54:31,280 --> 00:54:33,440
Speaker 2: I think that it's time to be a little bit

1153
00:54:33,480 --> 00:54:35,680
Speaker 2: more conservative. I'm just gonna put money in S and

1154
00:54:35,680 --> 00:54:37,319
Speaker 2: P five hundred this month. I'm not gonna put money

1155
00:54:37,320 --> 00:54:41,040
Speaker 2: in stocks or I'm not fully confident in Apple. I'm

1156
00:54:41,040 --> 00:54:43,560
Speaker 2: not putting money in Apple. I might put money in QQQ,

1157
00:54:43,760 --> 00:54:47,239
Speaker 2: which Apple is a part of, but I feel more

1158
00:54:47,280 --> 00:54:50,840
Speaker 2: confident because it's diversified amongst a variety of other different

1159
00:54:50,880 --> 00:54:55,160
Speaker 2: companies besides one particular company. Or SMH is down a

1160
00:54:55,160 --> 00:55:00,080
Speaker 2: lot right now, So maybe SMH. I feel confident and

1161
00:55:00,160 --> 00:55:02,640
Speaker 2: putting some money in US and made show riding it out.

1162
00:55:02,680 --> 00:55:04,800
Speaker 2: That doesn't mean that it's not going to because I

1163
00:55:04,840 --> 00:55:09,080
Speaker 2: also firmly believe that we're headed to a recession if

1164
00:55:09,120 --> 00:55:11,759
Speaker 2: we don't, if this doesn't change. Let me preference this

1165
00:55:11,880 --> 00:55:16,600
Speaker 2: by saying this, if this teriff policy does not change,

1166
00:55:17,880 --> 00:55:20,160
Speaker 2: if it, if it does not change, we are we

1167
00:55:20,200 --> 00:55:22,800
Speaker 2: are going to be in a recession. And if we

1168
00:55:22,920 --> 00:55:25,600
Speaker 2: go into a recession, we're going to a bear market.

1169
00:55:25,640 --> 00:55:28,120
Speaker 2: And if we go into a bear market, stocks are

1170
00:55:28,120 --> 00:55:31,880
Speaker 2: going to fall lower than what they are now. I

1171
00:55:31,880 --> 00:55:35,320
Speaker 2: think that's that's my that's my thesis. But what are

1172
00:55:35,400 --> 00:55:35,799
Speaker 2: you doing?

1173
00:55:36,440 --> 00:55:38,080
Speaker 3: I think that's safe to say right now.

1174
00:55:38,520 --> 00:55:42,120
Speaker 1: Like I said, the number one catalyst is uncertainty, and

1175
00:55:42,160 --> 00:55:44,600
Speaker 1: that's what we're seeing consistently over the past couple of weeks.

1176
00:55:44,800 --> 00:55:47,839
Speaker 3: So you always have to have your targets, right. So,

1177
00:55:47,880 --> 00:55:49,680
Speaker 3: like we talk about in video, I know Ian said

1178
00:55:49,680 --> 00:55:50,600
Speaker 3: one O five's the number.

1179
00:55:50,640 --> 00:55:53,000
Speaker 2: Well it hit one O three today, but it's headed

1180
00:55:53,040 --> 00:55:53,480
Speaker 2: to ninety.

1181
00:55:54,600 --> 00:55:58,400
Speaker 1: Just well even that's fine, right. If I see it

1182
00:55:58,400 --> 00:56:00,520
Speaker 1: at ninety, it's even more attractive to me. Is it

1183
00:56:00,560 --> 00:56:02,080
Speaker 1: a company that I believe in? Is it a company

1184
00:56:02,120 --> 00:56:03,719
Speaker 1: I'm going to hold long term? It's a company that

1185
00:56:03,760 --> 00:56:06,919
Speaker 1: I have three thousand shares in. I'm not going anywhere, right,

1186
00:56:07,000 --> 00:56:08,359
Speaker 1: and so I'll buy more.

1187
00:56:08,560 --> 00:56:09,040
Speaker 2: I told you.

1188
00:56:09,120 --> 00:56:11,840
Speaker 1: An attractive company for the past two months has been Netflix.

1189
00:56:12,000 --> 00:56:15,320
Speaker 1: We saw how they reported after their last quarter. Obviously,

1190
00:56:15,320 --> 00:56:17,960
Speaker 1: what they're doing with live sports and the WWE, we

1191
00:56:18,000 --> 00:56:19,200
Speaker 1: actually witnessed it in the first hand.

1192
00:56:19,480 --> 00:56:21,880
Speaker 3: I like that company. How will tarists affect that?

1193
00:56:21,920 --> 00:56:24,200
Speaker 1: I'm not sure how it will affect it long term,

1194
00:56:24,200 --> 00:56:25,640
Speaker 1: but I see that at a discount.

1195
00:56:25,719 --> 00:56:26,000
Speaker 2: I like it.

1196
00:56:26,040 --> 00:56:28,319
Speaker 1: The other one is meta, right obviously, what they're doing

1197
00:56:28,360 --> 00:56:30,839
Speaker 1: and the role that they're going to play in connectivity

1198
00:56:30,920 --> 00:56:33,960
Speaker 1: throughout the world, not just here in America, and the

1199
00:56:34,000 --> 00:56:36,480
Speaker 1: global landscape that they have I like them too. And

1200
00:56:36,520 --> 00:56:38,440
Speaker 1: so when they get down to attractive prices. I know

1201
00:56:38,480 --> 00:56:40,959
Speaker 1: in videos just dropped thirty two percent. Apple dropped twenty

1202
00:56:41,000 --> 00:56:44,359
Speaker 1: percent today. The companies that you liked and you were

1203
00:56:44,400 --> 00:56:48,400
Speaker 1: waiting for them to be twenty five percent down from

1204
00:56:48,440 --> 00:56:51,000
Speaker 1: their all time highs, Well they're here. Will they go lower?

1205
00:56:51,440 --> 00:56:54,360
Speaker 1: They could, but they still attractive companies. Those are the

1206
00:56:54,400 --> 00:56:58,640
Speaker 1: companies that will lead this economy that you already allude to, Caleb,

1207
00:56:58,640 --> 00:57:01,960
Speaker 1: when you're talking about fifty five percent of the SMP

1208
00:57:02,400 --> 00:57:04,440
Speaker 1: is in the max seven, right, So these companies are

1209
00:57:04,480 --> 00:57:05,520
Speaker 1: gonna lead our economy.

1210
00:57:05,600 --> 00:57:07,040
Speaker 3: They're at discounted prices.

1211
00:57:07,719 --> 00:57:09,879
Speaker 1: Dollar clust averaging is important, but you're staying in these

1212
00:57:09,880 --> 00:57:12,440
Speaker 1: companies for the long term. Those are those are great companies,

1213
00:57:12,480 --> 00:57:14,960
Speaker 1: so you stay on. Now are we doing options on

1214
00:57:15,000 --> 00:57:15,680
Speaker 1: some of them?

1215
00:57:15,800 --> 00:57:16,280
Speaker 2: In video?

1216
00:57:16,520 --> 00:57:17,480
Speaker 3: It gets down to ninety?

1217
00:57:17,520 --> 00:57:19,120
Speaker 1: I like it because I can see out to twenty

1218
00:57:19,160 --> 00:57:21,520
Speaker 1: twenty seven, right, So when I start seeing twenty twenty

1219
00:57:21,560 --> 00:57:24,280
Speaker 1: seven calls where it's deep like December twenty twenty seven,

1220
00:57:25,080 --> 00:57:28,440
Speaker 1: I like that. I'm always using time as a barrier

1221
00:57:28,560 --> 00:57:31,080
Speaker 1: to help me fight off volatility.

1222
00:57:31,400 --> 00:57:33,120
Speaker 2: What about puts? Puts?

1223
00:57:33,120 --> 00:57:34,600
Speaker 3: As know, I see everybody in chat. I feel like

1224
00:57:34,600 --> 00:57:35,640
Speaker 3: everybody's doing that right.

1225
00:57:35,560 --> 00:57:39,320
Speaker 1: Now, right everybody kept circling April second. They're looking at

1226
00:57:39,320 --> 00:57:41,440
Speaker 1: April second as a date. They know that taffs are

1227
00:57:41,440 --> 00:57:45,480
Speaker 1: going to get into effect. They start buying puts on indexes, right,

1228
00:57:45,520 --> 00:57:47,240
Speaker 1: so they bought it, put on the on the SMP,

1229
00:57:47,360 --> 00:57:48,960
Speaker 1: they bought puts on QQQ.

1230
00:57:49,200 --> 00:57:52,280
Speaker 3: Why, Well, exactly what happened today.

1231
00:57:52,800 --> 00:57:55,440
Speaker 1: Now we don't know what certainty looks like or uncertainty

1232
00:57:55,480 --> 00:57:57,240
Speaker 1: looks like for the next couple of weeks. Like you said,

1233
00:57:57,320 --> 00:58:00,520
Speaker 1: if this doesn't change, I mean, it's he's safe to

1234
00:58:00,520 --> 00:58:01,560
Speaker 1: say that recession is at it.

1235
00:58:01,840 --> 00:58:03,960
Speaker 3: And that's just by definition two negative quarters.

1236
00:58:04,120 --> 00:58:07,040
Speaker 1: I can't see how these tarffs going to affect this month.

1237
00:58:07,160 --> 00:58:09,440
Speaker 1: And this is a positive quarter for most of these companies.

1238
00:58:09,680 --> 00:58:11,600
Speaker 2: We're on the ver we're on the verge of a

1239
00:58:11,640 --> 00:58:15,000
Speaker 2: global meltdown, a global recession. I don't think XRP is

1240
00:58:15,000 --> 00:58:16,560
Speaker 2: going to be the answer. I don't know why people

1241
00:58:16,560 --> 00:58:20,200
Speaker 2: are so obsessed with XRP. It's confusing to me. But

1242
00:58:21,200 --> 00:58:24,600
Speaker 2: out of every out of every vehicle that you can

1243
00:58:24,800 --> 00:58:28,600
Speaker 2: think about, x RP is the one golden child. It

1244
00:58:28,640 --> 00:58:31,360
Speaker 2: hasn't done anything in seven years. It goes up and

1245
00:58:31,440 --> 00:58:35,680
Speaker 2: comes down, and I'm just it's just this. But this

1246
00:58:35,760 --> 00:58:38,120
Speaker 2: goes back to the lack of education, and it also

1247
00:58:38,160 --> 00:58:40,720
Speaker 2: goes back to the Gamber's mentality. And it's also how

1248
00:58:40,800 --> 00:58:43,080
Speaker 2: much education can we give you? Guys. We've been giving

1249
00:58:43,120 --> 00:58:45,520
Speaker 2: you education every single day for seven years. So for

1250
00:58:45,600 --> 00:58:51,000
Speaker 2: you to champion XRP, it's disappointing because it's like, I'm

1251
00:58:51,040 --> 00:58:52,880
Speaker 2: not saying that it has no future at all, but

1252
00:58:53,240 --> 00:58:57,040
Speaker 2: out of everything in the world, XRP is the one

1253
00:58:57,080 --> 00:58:58,600
Speaker 2: thing that you're going to die on.

1254
00:59:00,000 --> 00:59:03,480
Speaker 1: Doesn't cost much, right, people can load their money inside

1255
00:59:03,480 --> 00:59:05,240
Speaker 1: of it, that there's uncertainty around it.

1256
00:59:06,000 --> 00:59:08,240
Speaker 3: We heard that the sec is now settled.

1257
00:59:08,680 --> 00:59:13,840
Speaker 1: It's the hope, right, and the hope of it, as Franklin,

1258
00:59:14,360 --> 00:59:16,480
Speaker 1: a lot of people in Vegas will hope exactly.

1259
00:59:16,560 --> 00:59:19,960
Speaker 3: That's why we never put hope into the equation.

1260
00:59:20,080 --> 00:59:20,200
Speaker 4: Right.

1261
00:59:20,200 --> 00:59:22,000
Speaker 1: You want to make sure you do enough research and

1262
00:59:22,000 --> 00:59:23,880
Speaker 1: you're investing in long term and some things that we

1263
00:59:24,040 --> 00:59:28,680
Speaker 1: know are proven to increase the GDP of our economy

1264
00:59:28,720 --> 00:59:29,080
Speaker 1: for sure.

1265
00:59:29,200 --> 00:59:32,120
Speaker 2: Well, let me ask you guys this from a global perspective, right,

1266
00:59:32,560 --> 00:59:35,320
Speaker 2: how do you think the percept How does this affect

1267
00:59:35,320 --> 00:59:38,200
Speaker 2: Because everybody's mad at America right now. That's another part

1268
00:59:38,200 --> 00:59:41,600
Speaker 2: of this equation from world leaders. But then citizens like

1269
00:59:41,600 --> 00:59:44,320
Speaker 2: people I've seen Canadian citizens that's like they're not going

1270
00:59:44,360 --> 00:59:47,480
Speaker 2: to America because they're boycott in America. Like there's a

1271
00:59:47,640 --> 00:59:51,760
Speaker 2: global settlement that is setting in of people that's mad

1272
00:59:51,840 --> 00:59:54,800
Speaker 2: at America. How how how do you think that is

1273
00:59:54,960 --> 00:59:58,800
Speaker 2: playing in and what what is the long term effects

1274
00:59:58,840 --> 01:00:01,000
Speaker 2: of that? Because America was alway he's known is like

1275
01:00:01,320 --> 01:00:03,080
Speaker 2: the place you want to go to. It's like the

1276
01:00:03,720 --> 01:00:04,480
Speaker 2: cool place to be.

1277
01:00:04,640 --> 01:00:07,160
Speaker 6: But we're cool, we got the funds, we got blue

1278
01:00:07,200 --> 01:00:09,520
Speaker 6: jeans over here, We're a lot of fun. But right

1279
01:00:09,560 --> 01:00:12,920
Speaker 6: now nobody wants to come right. So it's gonna hurt

1280
01:00:13,000 --> 01:00:15,560
Speaker 6: on the tourism front, it's gonna hurt on the trade front,

1281
01:00:15,640 --> 01:00:18,200
Speaker 6: we know that, but also just on the cultural you know,

1282
01:00:18,280 --> 01:00:20,320
Speaker 6: it's hard to put a number on this, but you know,

1283
01:00:20,520 --> 01:00:24,160
Speaker 6: cultural influence has a wealth impact as well, and you

1284
01:00:24,200 --> 01:00:27,000
Speaker 6: can see it in entertainment obviously when movies go from

1285
01:00:27,040 --> 01:00:30,320
Speaker 6: here over there, you know, over to Europe or Asia

1286
01:00:30,360 --> 01:00:33,760
Speaker 6: where certainly Marvel and those other franchises are massive, but

1287
01:00:33,800 --> 01:00:37,280
Speaker 6: they also have parks over there. Disney operates around the world,

1288
01:00:37,400 --> 01:00:40,800
Speaker 6: right Coca Cola sells its product around the world for

1289
01:00:41,000 --> 01:00:42,800
Speaker 6: I think half the companies in the S and P

1290
01:00:42,920 --> 01:00:46,440
Speaker 6: five hundred forty percent of the revenue comes from overseas.

1291
01:00:46,760 --> 01:00:49,640
Speaker 6: So that's gonna hurt both on the sentiment front, on

1292
01:00:49,720 --> 01:00:53,440
Speaker 6: the brand front, and also again, what is the cultural

1293
01:00:53,520 --> 01:00:56,720
Speaker 6: impact from a from a dollar perspective that these companies

1294
01:00:56,760 --> 01:00:58,680
Speaker 6: are going to feel because they come from the United

1295
01:00:58,720 --> 01:01:02,440
Speaker 6: States or they're associated with the United States, like Mickey Mouse,

1296
01:01:02,720 --> 01:01:06,120
Speaker 6: like Coca Cola. Right, there's nothing more American than these companies,

1297
01:01:06,320 --> 01:01:08,120
Speaker 6: and I think they're going to suffer abroad as well.

1298
01:01:08,960 --> 01:01:10,680
Speaker 5: Yeah, I mean, I think that's a great point. But

1299
01:01:10,680 --> 01:01:12,640
Speaker 5: you got to remember we're a service economy. Like the

1300
01:01:12,680 --> 01:01:14,520
Speaker 5: things that we export our services, and one of those

1301
01:01:14,520 --> 01:01:17,720
Speaker 5: things is education. So as long as we have Harvard, Stanford,

1302
01:01:18,320 --> 01:01:21,160
Speaker 5: you know, Georgia tech people will come to the United States.

1303
01:01:21,200 --> 01:01:24,560
Speaker 2: Well that's on the fire now, people with the administration

1304
01:01:24,720 --> 01:01:27,520
Speaker 2: doing what they're doing with Columbia and Harvard, and they

1305
01:01:27,920 --> 01:01:31,439
Speaker 2: now people saying like that the education thing, which we want.

1306
01:01:31,680 --> 01:01:35,840
Speaker 2: You were right, but now education is under attack. All

1307
01:01:35,880 --> 01:01:40,280
Speaker 2: of these Ivy League schools are shuffling because what they're

1308
01:01:40,320 --> 01:01:42,840
Speaker 2: doing is the administration is putting so much pressure on

1309
01:01:42,880 --> 01:01:46,240
Speaker 2: these schools that they're forcing them to change policy. Now

1310
01:01:46,320 --> 01:01:49,439
Speaker 2: they're they're upsetting students and they're upsetting faculty. But then,

1311
01:01:49,480 --> 01:01:51,720
Speaker 2: on one hand, they got to satisfy administration and they

1312
01:01:51,760 --> 01:01:54,040
Speaker 2: got to satisfy people that's giving them money. On the

1313
01:01:54,040 --> 01:01:59,440
Speaker 2: other hand, they're sacrificing their credibility with the students and

1314
01:01:59,600 --> 01:02:03,040
Speaker 2: factult and real academia, right, because that's not how the

1315
01:02:03,160 --> 01:02:06,320
Speaker 2: academic really works. So, yeah, you're right, But at what

1316
01:02:06,440 --> 01:02:09,800
Speaker 2: point do people say, well, yeah, I'm not going to

1317
01:02:09,840 --> 01:02:13,120
Speaker 2: school in America anymore because I might get arrested from

1318
01:02:13,160 --> 01:02:16,640
Speaker 2: a plant closed police officer and sent to Houston and

1319
01:02:17,000 --> 01:02:19,320
Speaker 2: held in a detention center for six months.

1320
01:02:19,720 --> 01:02:22,480
Speaker 5: I mean, that seems to be something that's emerging as

1321
01:02:22,520 --> 01:02:25,200
Speaker 5: an issue because we've seen some people, you know, according

1322
01:02:25,160 --> 01:02:27,600
Speaker 5: to reports, essentially get taken off the street. But can

1323
01:02:27,680 --> 01:02:29,920
Speaker 5: I tell you from my personal experiences anecdotal When I

1324
01:02:29,960 --> 01:02:32,400
Speaker 5: went to business school, about three quarters of my class

1325
01:02:32,480 --> 01:02:35,840
Speaker 5: was from Asia, and a lot of them were very wealthy,

1326
01:02:35,880 --> 01:02:37,959
Speaker 5: Like the parking lot I got my NBA from Bentley

1327
01:02:38,040 --> 01:02:42,200
Speaker 5: University up in Boston. The parking lot had BMW's, Bentley's

1328
01:02:42,240 --> 01:02:44,760
Speaker 5: things I'd never seen before, and I would ask my

1329
01:02:44,880 --> 01:02:47,080
Speaker 5: classmates like you're you know, why'd you come over from?

1330
01:02:47,160 --> 01:02:49,440
Speaker 5: Whether it be China or Taiwan or wherever. They're just like,

1331
01:02:49,560 --> 01:02:51,400
Speaker 5: you know, my parents wanted me to get an education

1332
01:02:51,480 --> 01:02:53,680
Speaker 5: in the US. They thought it was you know, they

1333
01:02:53,680 --> 01:02:55,160
Speaker 5: saw a lot of prestige and me going to school

1334
01:02:55,200 --> 01:02:57,280
Speaker 5: in Boston. So at least in the near term, I

1335
01:02:57,280 --> 01:02:58,960
Speaker 5: don't think that really changes, you know.

1336
01:02:59,080 --> 01:03:00,320
Speaker 4: I mean, the the.

1337
01:03:00,200 --> 01:03:02,520
Speaker 5: Prestige of American schools, the experience of going to an

1338
01:03:02,520 --> 01:03:04,040
Speaker 5: American school from when I hear I didn't go to

1339
01:03:04,040 --> 01:03:08,400
Speaker 5: college anywhere else. It's very different than going to college overseas. Also,

1340
01:03:08,480 --> 01:03:10,480
Speaker 5: just the networking ability you get to meet people in

1341
01:03:10,520 --> 01:03:14,240
Speaker 5: the United States potentially make business contacts. But that paradigm,

1342
01:03:14,440 --> 01:03:16,480
Speaker 5: to your point, could be changing. Because a lot of

1343
01:03:16,560 --> 01:03:18,600
Speaker 5: the people that I worked that I went to school with,

1344
01:03:19,000 --> 01:03:20,040
Speaker 5: their parents sent them over here.

1345
01:03:20,160 --> 01:03:21,720
Speaker 4: There was the prestige of going to school in the US.

1346
01:03:21,760 --> 01:03:23,920
Speaker 5: And also you meet people here in the US and

1347
01:03:23,920 --> 01:03:26,360
Speaker 5: then hopefully you make business contacts that work for their

1348
01:03:26,400 --> 01:03:27,560
Speaker 5: businesses overseas.

1349
01:03:29,200 --> 01:03:31,800
Speaker 1: Is it sustainable though, right we I had a very

1350
01:03:31,800 --> 01:03:35,400
Speaker 1: insightful conversation in terms of just college, yes, the prestige,

1351
01:03:35,400 --> 01:03:40,040
Speaker 1: but the battle for the future won't be from an institution, right, Like,

1352
01:03:40,040 --> 01:03:44,400
Speaker 1: if we're talking about the advancement and artificial intelligence, it

1353
01:03:44,440 --> 01:03:47,080
Speaker 1: won't be a battle for like who's more intelligent because

1354
01:03:47,080 --> 01:03:49,840
Speaker 1: they went to said ivy League school. It'll be like

1355
01:03:49,880 --> 01:03:52,040
Speaker 1: who has more of a purpose and who has a skill.

1356
01:03:52,200 --> 01:03:55,880
Speaker 1: Because if an agent can learn a four year degree

1357
01:03:55,880 --> 01:03:57,720
Speaker 1: in ten minutes, then I could just work with the

1358
01:03:57,760 --> 01:03:59,600
Speaker 1: agent and save myself the time and the money that's

1359
01:03:59,600 --> 01:04:00,240
Speaker 1: going to cause me to.

1360
01:04:00,200 --> 01:04:01,000
Speaker 2: Actually go to school.

1361
01:04:01,320 --> 01:04:05,600
Speaker 3: So how sustainable is that mindset of, Hey, we have

1362
01:04:05,680 --> 01:04:06,400
Speaker 3: the best schools.

1363
01:04:06,800 --> 01:04:08,480
Speaker 5: That's a tough question. At least in the near term.

1364
01:04:08,520 --> 01:04:10,240
Speaker 5: I think it's pretty sustainable. But I think that goes

1365
01:04:10,280 --> 01:04:12,840
Speaker 5: full circuit. We were talking about, like, you know, is

1366
01:04:12,880 --> 01:04:14,920
Speaker 5: going to college the best decision for a lot of people?

1367
01:04:15,040 --> 01:04:16,880
Speaker 5: And I know that you know this show obviously focused

1368
01:04:16,880 --> 01:04:19,360
Speaker 5: on the black and brown community. Is that does that

1369
01:04:19,360 --> 01:04:21,400
Speaker 5: always make sense? Why not a trade school? I mean

1370
01:04:22,000 --> 01:04:24,040
Speaker 5: when you talk to people, a lot of the millionaires

1371
01:04:24,040 --> 01:04:26,280
Speaker 5: that are at golf clubs and doing things their plumbers,

1372
01:04:26,320 --> 01:04:29,320
Speaker 5: they're contractors, they do hvac. You're seeing a lot of

1373
01:04:29,320 --> 01:04:31,720
Speaker 5: people build their wealth that way, and then the jobs

1374
01:04:31,760 --> 01:04:34,160
Speaker 5: of the future really going full circle we're talking about

1375
01:04:34,160 --> 01:04:34,880
Speaker 5: what are those going to be.

1376
01:04:34,920 --> 01:04:36,440
Speaker 4: Are there's going to be jobs where you need.

1377
01:04:36,520 --> 01:04:38,760
Speaker 5: A four year degree or you need the ability to

1378
01:04:38,840 --> 01:04:41,480
Speaker 5: learn and adapt and can you learn those skills that

1379
01:04:41,560 --> 01:04:44,520
Speaker 5: you need to use physically better at a trade school

1380
01:04:44,600 --> 01:04:47,600
Speaker 5: or some type of other technical school. I have mixed,

1381
01:04:47,920 --> 01:04:51,640
Speaker 5: like really mixed feelings about the tariffs. You know, in theory,

1382
01:04:51,800 --> 01:04:53,800
Speaker 5: it kind of makes sense that it would bring jobs

1383
01:04:53,880 --> 01:04:56,400
Speaker 5: back here. I also hear what you're saying is that

1384
01:04:56,440 --> 01:04:57,880
Speaker 5: a lot of these jobs are going to be taken

1385
01:04:57,960 --> 01:05:02,080
Speaker 5: by robots and things like that. But I do think

1386
01:05:02,120 --> 01:05:03,760
Speaker 5: you have to try to bring some jobs back here

1387
01:05:03,800 --> 01:05:06,200
Speaker 5: so people can start with those jobs and get upskilled

1388
01:05:06,200 --> 01:05:08,040
Speaker 5: to the jobs they are going to exist in the future.

1389
01:05:08,720 --> 01:05:11,360
Speaker 5: I've seen various estimates, but I've seen one estimate was

1390
01:05:11,400 --> 01:05:14,160
Speaker 5: that sixty percent of the jobs that exist today didn't

1391
01:05:14,200 --> 01:05:19,080
Speaker 5: exist before World War Two. So you have to start somewhere,

1392
01:05:19,520 --> 01:05:22,520
Speaker 5: especially for lower income people, and whether it's assembling. Nobody

1393
01:05:22,560 --> 01:05:25,480
Speaker 5: dreams of assembling an iPhone and some factory in Idaho

1394
01:05:25,600 --> 01:05:28,480
Speaker 5: or Iowa, but that's the start, and then hypothetically you

1395
01:05:28,520 --> 01:05:30,920
Speaker 5: can be upskilled to the higher tech jobs of the

1396
01:05:30,920 --> 01:05:33,400
Speaker 5: future where you work side by side with the robot

1397
01:05:33,800 --> 01:05:37,560
Speaker 5: or you do augmented reality, whatever you're doing, but you

1398
01:05:37,600 --> 01:05:38,640
Speaker 5: do have to start somewhere.

1399
01:05:39,040 --> 01:05:41,440
Speaker 2: Well, you also brought up a good point where you

1400
01:05:41,520 --> 01:05:46,040
Speaker 2: said seventy percent of classmates was from Asia. That's another

1401
01:05:46,040 --> 01:05:49,720
Speaker 2: thing that we talked about. That's another problem, right, like

1402
01:05:49,960 --> 01:05:53,680
Speaker 2: we as a society are actually getting dumber. This is

1403
01:05:53,720 --> 01:05:56,160
Speaker 2: not my personal opinion, this has just been proven. We're

1404
01:05:56,200 --> 01:05:57,720
Speaker 2: not even in the top twenty when it comes to

1405
01:05:57,800 --> 01:06:00,760
Speaker 2: education in the world, might not even be in the

1406
01:06:00,760 --> 01:06:03,840
Speaker 2: top forty. So even a lot of these high the

1407
01:06:03,920 --> 01:06:06,760
Speaker 2: high paying jobs and not going to Americans anyway. We

1408
01:06:06,840 --> 01:06:09,000
Speaker 2: came back from Silicon Valley. We was in Meta and

1409
01:06:09,000 --> 01:06:11,480
Speaker 2: we was in Nvidia, and all of the people there

1410
01:06:11,520 --> 01:06:15,280
Speaker 2: were either from China or from India. So yeah, I mean,

1411
01:06:15,320 --> 01:06:17,160
Speaker 2: we're bringing jobs if we're going to try to bring

1412
01:06:17,240 --> 01:06:19,280
Speaker 2: jobs back to America. But like you said, those are

1413
01:06:19,320 --> 01:06:21,320
Speaker 2: low paying jobs for the most part. Even if it's

1414
01:06:21,320 --> 01:06:23,680
Speaker 2: a high paying, low paying job, it's still a low

1415
01:06:23,720 --> 01:06:25,720
Speaker 2: paying job when you factor in inflation of a variety

1416
01:06:25,760 --> 01:06:29,560
Speaker 2: of these really high paying jobs Americans aren't getting anyway

1417
01:06:29,800 --> 01:06:35,040
Speaker 2: because of education. We're not educated enough to actually do

1418
01:06:35,120 --> 01:06:35,920
Speaker 2: these jobs anyway.

1419
01:06:36,960 --> 01:06:40,240
Speaker 4: But you got to start somewhere like ice work in Detroit.

1420
01:06:40,280 --> 01:06:42,120
Speaker 5: I spent a lot of time in Detroit, So I mean,

1421
01:06:42,360 --> 01:06:43,840
Speaker 5: I think there's a lot of potential for someone to

1422
01:06:43,920 --> 01:06:46,880
Speaker 5: start on the assembly line at a Ford plan and

1423
01:06:47,000 --> 01:06:49,000
Speaker 5: get an idea like, man, I can do this better

1424
01:06:49,000 --> 01:06:51,280
Speaker 5: than you create a stamping plan, or you create some

1425
01:06:51,320 --> 01:06:53,880
Speaker 5: other part plan, or you create some innovation.

1426
01:06:54,040 --> 01:06:56,200
Speaker 4: But you have to be in that room to get

1427
01:06:56,200 --> 01:06:56,680
Speaker 4: the insight.

1428
01:06:56,920 --> 01:06:59,920
Speaker 2: But we was, but we never moved up from the

1429
01:07:00,120 --> 01:07:01,920
Speaker 2: So Frank, we've been doing that job for one hundred

1430
01:07:01,920 --> 01:07:05,080
Speaker 2: and fifty years, like saying, like, I hear what you're saying,

1431
01:07:05,120 --> 01:07:08,040
Speaker 2: but it's twenty twenty five. We don't need to start

1432
01:07:08,040 --> 01:07:10,040
Speaker 2: at the ground level anymore. We got to start at

1433
01:07:10,080 --> 01:07:12,280
Speaker 2: the highest level because we've been at the ground level

1434
01:07:12,320 --> 01:07:15,320
Speaker 2: forever and that promise of moving up the ladder has

1435
01:07:15,360 --> 01:07:17,040
Speaker 2: never We've never moved up the ladder.

1436
01:07:17,280 --> 01:07:20,000
Speaker 1: Yeah, it's like preparing for a race forever, Like the

1437
01:07:20,080 --> 01:07:23,880
Speaker 1: races is already being ran, but we can't get to

1438
01:07:23,880 --> 01:07:24,720
Speaker 1: the starting line and.

1439
01:07:24,640 --> 01:07:25,560
Speaker 2: Say, all right, we're ready.

1440
01:07:25,600 --> 01:07:28,160
Speaker 1: No, they already are running the marathon right like we

1441
01:07:28,480 --> 01:07:30,680
Speaker 1: it's not even playing catchup. But we got to participate

1442
01:07:30,720 --> 01:07:33,400
Speaker 1: in the space where it's like, all right, well, we

1443
01:07:33,440 --> 01:07:36,600
Speaker 1: can't start at the ground and we can see where

1444
01:07:36,600 --> 01:07:39,800
Speaker 1: this is headed. We have to be in this race

1445
01:07:39,800 --> 01:07:41,640
Speaker 1: for the long run, or else we're gonna stay at

1446
01:07:41,640 --> 01:07:44,040
Speaker 1: the finish the start line, Like all right, I think

1447
01:07:44,040 --> 01:07:45,560
Speaker 1: we're ready to go. I think we're ready to go.

1448
01:07:46,040 --> 01:07:47,280
Speaker 3: Like, no, I.

1449
01:07:47,280 --> 01:07:49,280
Speaker 2: Get what you guys are saying, but you gotta When

1450
01:07:49,280 --> 01:07:51,760
Speaker 2: he said they taking black jobs, right, I mean that's

1451
01:07:51,760 --> 01:07:55,600
Speaker 2: what essentially he's referring to, right, Like, but it's like,

1452
01:07:55,880 --> 01:07:59,280
Speaker 2: low skilled jobs are not low paying, and low skilled

1453
01:07:59,360 --> 01:08:03,520
Speaker 2: jobs are not a halfway to it's not a sustainable future. Right,

1454
01:08:03,600 --> 01:08:05,920
Speaker 2: So it's like, even why are we really even fighting

1455
01:08:05,920 --> 01:08:09,600
Speaker 2: for these jobs? They're not sustainable. They're not sustainable. Like

1456
01:08:09,720 --> 01:08:14,800
Speaker 2: putting together an iPhone is not aspirational and it's not sustainable.

1457
01:08:14,960 --> 01:08:18,200
Speaker 2: That's not something that I don't think our focus should

1458
01:08:18,200 --> 01:08:18,400
Speaker 2: be on.

1459
01:08:21,560 --> 01:08:24,080
Speaker 5: I understand everything you're saying, but you got to start somewhere.

1460
01:08:24,200 --> 01:08:26,519
Speaker 5: And while Kelb's pointing out that the US unemployments are

1461
01:08:26,520 --> 01:08:29,080
Speaker 5: about four percent, Black unemployment is higher than that, and

1462
01:08:29,120 --> 01:08:31,160
Speaker 5: a lot of us are are skewed more towards as

1463
01:08:31,160 --> 01:08:34,920
Speaker 5: you're talking about lower paying jobs, I'm not saying that

1464
01:08:34,960 --> 01:08:37,120
Speaker 5: manufacturing jobs are the cure all and it's going to

1465
01:08:37,160 --> 01:08:41,320
Speaker 5: fix everything. But oftentimes manufacturing jobs are steady. They pay

1466
01:08:41,400 --> 01:08:43,439
Speaker 5: better than service jobs, even pay better than some of

1467
01:08:43,439 --> 01:08:45,919
Speaker 5: the warehousing jobs. They've got really popular dround the pandemic.

1468
01:08:46,120 --> 01:08:49,759
Speaker 5: They come with benefits. They provide a ladder for people

1469
01:08:49,760 --> 01:08:51,360
Speaker 5: that want to use it. Similar to the military. The

1470
01:08:51,400 --> 01:08:53,439
Speaker 5: military doesn't pay great, but if you get into the

1471
01:08:53,479 --> 01:08:56,240
Speaker 5: military and you learn how to use some of those resources,

1472
01:08:56,280 --> 01:08:58,000
Speaker 5: it can be a ladder up. Some people get out

1473
01:08:58,000 --> 01:09:00,240
Speaker 5: the military and you're right, they don't have any more

1474
01:09:00,280 --> 01:09:01,400
Speaker 5: skills than when they got in there.

1475
01:09:02,320 --> 01:09:06,120
Speaker 2: Let me ask you this, both of you guys, before

1476
01:09:06,120 --> 01:09:08,120
Speaker 2: we wrap, I want to get your opinion because the

1477
01:09:08,160 --> 01:09:11,040
Speaker 2: political aspect plays a part too. So Elon Mush. You see,

1478
01:09:11,520 --> 01:09:14,360
Speaker 2: he's been under a lot of pressure and it's starting

1479
01:09:14,360 --> 01:09:18,960
Speaker 2: to backfire. They lost the judicial race in Wisconsin, which

1480
01:09:18,960 --> 01:09:20,840
Speaker 2: he put a lot of money into, twenty five million,

1481
01:09:20,880 --> 01:09:22,519
Speaker 2: So that to me is a sign that there's some

1482
01:09:22,680 --> 01:09:27,080
Speaker 2: level of there's a revolt politically. This usually always happens

1483
01:09:27,120 --> 01:09:29,439
Speaker 2: that one party gets in then the other party has

1484
01:09:29,439 --> 01:09:31,559
Speaker 2: a favor because they could just say the other party's

1485
01:09:31,560 --> 01:09:35,479
Speaker 2: messing up. But Trump he's pretty hell bent on what

1486
01:09:35,520 --> 01:09:38,759
Speaker 2: he wants to do, and everybody around him is gonna

1487
01:09:38,960 --> 01:09:42,439
Speaker 2: agree with it. I wonder, at what point if the

1488
01:09:42,479 --> 01:09:44,800
Speaker 2: stock market doesn't cause enough pain, Like if we go

1489
01:09:44,840 --> 01:09:47,040
Speaker 2: into recession, we lose thirty percent of the stock market

1490
01:09:47,080 --> 01:09:49,320
Speaker 2: and that's not enough pain, At what point through the

1491
01:09:49,360 --> 01:09:54,479
Speaker 2: Republic does the Republican establishment put pressure on Trump because

1492
01:09:54,479 --> 01:09:58,400
Speaker 2: they're saying that this is starting to backfire on us, right,

1493
01:09:58,600 --> 01:10:01,599
Speaker 2: because a downward a is not beneficial for a political

1494
01:10:01,640 --> 01:10:03,719
Speaker 2: part that's in power. So they're going to start getting

1495
01:10:03,720 --> 01:10:06,400
Speaker 2: blamed for it eventually. Right. So he might not kick

1496
01:10:06,439 --> 01:10:10,200
Speaker 2: because he only has one term left. But if allegedly,

1497
01:10:10,439 --> 01:10:13,320
Speaker 2: but if the Republican establishment, which I don't even know

1498
01:10:13,320 --> 01:10:15,320
Speaker 2: if there is a Publican establishment at this point, it's

1499
01:10:15,439 --> 01:10:20,160
Speaker 2: just maga. Can political pressure to get put on him

1500
01:10:20,439 --> 01:10:24,960
Speaker 2: to the reverse course if things get too bad? Yeah?

1501
01:10:25,040 --> 01:10:28,920
Speaker 6: Well, money talks, right, uh. And as soon as you know,

1502
01:10:29,160 --> 01:10:31,599
Speaker 6: some of those donors start losing some of their money,

1503
01:10:31,600 --> 01:10:33,680
Speaker 6: and some of the big donors or some of the

1504
01:10:33,680 --> 01:10:36,559
Speaker 6: big governors start losing donors in their states and losing

1505
01:10:36,640 --> 01:10:40,440
Speaker 6: those statewide races, which doesn't allow them to do the redistricting,

1506
01:10:40,439 --> 01:10:43,240
Speaker 6: which doesn't allow them to do the remapping to then

1507
01:10:43,560 --> 01:10:45,800
Speaker 6: stay in power for the next twelve years. That's what

1508
01:10:45,920 --> 01:10:47,600
Speaker 6: I think is start to see a little bit of

1509
01:10:47,640 --> 01:10:50,000
Speaker 6: a pullback because it's clearly not the stock market. We've

1510
01:10:50,000 --> 01:10:52,880
Speaker 6: already seen that, it's not the bond market. We've definitely

1511
01:10:52,960 --> 01:10:54,719
Speaker 6: seen that. I think people are going to get angry,

1512
01:10:54,760 --> 01:10:56,519
Speaker 6: They're going to get hungry, and they're going to get mad.

1513
01:10:56,560 --> 01:10:58,960
Speaker 6: This summer, we'll see what that does or whether this

1514
01:10:59,000 --> 01:11:01,120
Speaker 6: government is just going to clap down with martial law.

1515
01:11:01,360 --> 01:11:03,400
Speaker 6: That remains to be seen too. Like what happens when

1516
01:11:03,400 --> 01:11:05,559
Speaker 6: people hit the streets because they are just so mad

1517
01:11:05,600 --> 01:11:07,559
Speaker 6: they can't take it anymore. That's what we're going to

1518
01:11:07,600 --> 01:11:09,680
Speaker 6: end up seeing how this government responds to that, and

1519
01:11:09,720 --> 01:11:12,880
Speaker 6: how the rest of the nation observes that and says, oh,

1520
01:11:12,960 --> 01:11:14,880
Speaker 6: is that how we're handling our people now? I mean,

1521
01:11:14,960 --> 01:11:17,040
Speaker 6: you already talked about people being taken off the street

1522
01:11:17,600 --> 01:11:20,120
Speaker 6: and being deported to Houston and stuff like that. What

1523
01:11:20,200 --> 01:11:22,360
Speaker 6: happens when people get really mad and start taking to

1524
01:11:22,400 --> 01:11:24,880
Speaker 6: the streets, right, and what happens when the big money

1525
01:11:24,920 --> 01:11:28,000
Speaker 6: stops flowing into the people that have put this administration

1526
01:11:28,080 --> 01:11:30,360
Speaker 6: in power. That's probably when you're going to see some movement.

1527
01:11:31,560 --> 01:11:32,360
Speaker 4: That's a great question.

1528
01:11:33,000 --> 01:11:37,160
Speaker 5: I think the midterms longer horizon, the midterms for the

1529
01:11:37,240 --> 01:11:40,320
Speaker 5: CORECT for congressional races is going to be a key test.

1530
01:11:40,880 --> 01:11:43,519
Speaker 5: If the Trump back candidates win the midterms, I think

1531
01:11:43,520 --> 01:11:46,000
Speaker 5: that extends his influence even though he's a lame dug president.

1532
01:11:46,400 --> 01:11:48,680
Speaker 5: If they don't, I think that's going to be a

1533
01:11:48,760 --> 01:11:52,519
Speaker 5: clear dividing line in his influence Before then, I'm not

1534
01:11:52,560 --> 01:11:54,840
Speaker 5: really sure because I mean, look at Tesla Elon Musk.

1535
01:11:55,479 --> 01:11:57,559
Speaker 4: I mean I can't I don't remember how much he's lost.

1536
01:11:57,560 --> 01:11:59,439
Speaker 4: I think he's lost about six hundred million dollars.

1537
01:11:59,600 --> 01:12:04,360
Speaker 5: Yeah, stop, Yeah, he's certainly been impacted. And also I

1538
01:12:04,400 --> 01:12:07,120
Speaker 5: think some of his plans for the future are potentially impacted.

1539
01:12:07,880 --> 01:12:09,519
Speaker 5: Like you know how we when you ride hill a car,

1540
01:12:09,600 --> 01:12:11,439
Speaker 5: you call it a uber and there's only an uber

1541
01:12:11,439 --> 01:12:12,800
Speaker 5: and lyft, but you still call it a uber, Like

1542
01:12:12,800 --> 01:12:14,479
Speaker 5: I'm gonna get an uber even when you're doing a lyft.

1543
01:12:14,479 --> 01:12:17,360
Speaker 4: A lot of times. He's going to put out robots

1544
01:12:17,439 --> 01:12:18,720
Speaker 4: and also a ROBOTAXI.

1545
01:12:18,800 --> 01:12:20,360
Speaker 5: The question is do people want to take them if

1546
01:12:20,360 --> 01:12:23,320
Speaker 5: they're associated with Elon Musk's Caleb's point like, are you

1547
01:12:23,360 --> 01:12:26,360
Speaker 5: so disgusted by what happened with Doge and some of

1548
01:12:26,360 --> 01:12:29,000
Speaker 5: the other things. Do you do you basically boycott the

1549
01:12:29,080 --> 01:12:31,479
Speaker 5: test of ROBOTAXI? Do you not buy the test the robot?

1550
01:12:31,800 --> 01:12:35,479
Speaker 5: Do you buy the hypothetical Microsoft robot instead? Does that

1551
01:12:35,560 --> 01:12:38,040
Speaker 5: hurt the stock? Are other people in this Trump orbit

1552
01:12:38,080 --> 01:12:40,280
Speaker 5: are they potentially going to face that kind of same

1553
01:12:40,680 --> 01:12:42,800
Speaker 5: consumer reaction? We just don't know yet, you know what

1554
01:12:42,840 --> 01:12:45,400
Speaker 5: I mean, it's not clear one other tests we might

1555
01:12:45,439 --> 01:12:46,960
Speaker 5: get and I don't even know how it's going to

1556
01:12:47,040 --> 01:12:49,800
Speaker 5: work out. But if one of the companies or that

1557
01:12:50,160 --> 01:12:52,559
Speaker 5: where the ceo is a Trump backer gets to actually

1558
01:12:52,560 --> 01:12:56,280
Speaker 5: buy TikTok, do people leave TikTok and protest?

1559
01:12:55,960 --> 01:12:56,840
Speaker 2: I don't know.

1560
01:12:56,920 --> 01:12:58,479
Speaker 4: I don't think so. I think people just kind of

1561
01:12:58,479 --> 01:12:59,360
Speaker 4: really like TikTok.

1562
01:13:01,000 --> 01:13:05,880
Speaker 1: Yeah, I mean, as you were saying exactly, that's exactly

1563
01:13:05,960 --> 01:13:06,920
Speaker 1: what I was thinking Twitter.

1564
01:13:07,240 --> 01:13:07,439
Speaker 2: Yeah.

1565
01:13:07,960 --> 01:13:10,559
Speaker 5: I mean, look at Mark Zuckerberg. He's very closely aligned

1566
01:13:10,560 --> 01:13:12,920
Speaker 5: with the Trump administration right now. I mean, I'll be honest,

1567
01:13:13,160 --> 01:13:15,439
Speaker 5: you know, I don't know anybody that's left Instagram because

1568
01:13:15,479 --> 01:13:17,200
Speaker 5: they're against what Mark Zuckerberg's done.

1569
01:13:17,240 --> 01:13:17,720
Speaker 4: I haven't heard.

1570
01:13:17,880 --> 01:13:19,439
Speaker 5: I've heard people see a lot of other things about

1571
01:13:19,439 --> 01:13:21,639
Speaker 5: boycotting this retail or boycott this retailer.

1572
01:13:21,920 --> 01:13:24,200
Speaker 4: I haven't one person say I'm jumping off insta.

1573
01:13:24,360 --> 01:13:26,360
Speaker 6: That's right, right, we say one thing, but do they

1574
01:13:26,479 --> 01:13:27,280
Speaker 6: but do the other.

1575
01:13:27,160 --> 01:13:27,759
Speaker 2: All the time?

1576
01:13:28,160 --> 01:13:30,800
Speaker 1: Frank, you know the man I was actually thinking that, right,

1577
01:13:30,840 --> 01:13:32,960
Speaker 1: like Robotech, that that announcement is going to be coming

1578
01:13:33,000 --> 01:13:35,240
Speaker 1: in June. I know they have a rollout, but you

1579
01:13:35,280 --> 01:13:38,360
Speaker 1: think about all those CEOs right that came to the

1580
01:13:38,400 --> 01:13:41,160
Speaker 1: inauguration of pre inauguration, it came and spoke to Trump,

1581
01:13:41,560 --> 01:13:44,880
Speaker 1: and what that perspective is now, right that they've lost

1582
01:13:45,080 --> 01:13:48,519
Speaker 1: I mean hundreds of billions of dollars from their personal wealth.

1583
01:13:48,520 --> 01:13:51,280
Speaker 1: Obviously that they're they're going to be fine, But it's

1584
01:13:51,320 --> 01:13:55,200
Speaker 1: interesting to look at May seventh, is the date you

1585
01:13:55,240 --> 01:13:58,240
Speaker 1: brought up the feed cher Caleb. I think you're one

1586
01:13:58,280 --> 01:14:01,400
Speaker 1: of the most educated people in this space of breaking

1587
01:14:01,439 --> 01:14:11,320
Speaker 1: down the correlation between inflation, between the CPI, between mortgage

1588
01:14:11,600 --> 01:14:12,920
Speaker 1: not mortgageman, the interest.

1589
01:14:12,680 --> 01:14:13,240
Speaker 2: Rates going up.

1590
01:14:13,880 --> 01:14:15,680
Speaker 1: Can you just explain that to people so they can

1591
01:14:15,720 --> 01:14:18,080
Speaker 1: get a clear glimpse of how all those things play

1592
01:14:18,120 --> 01:14:20,719
Speaker 1: apart and why the decision of how many rate cuts

1593
01:14:20,800 --> 01:14:23,759
Speaker 1: we get this year is going to be super important.

1594
01:14:24,240 --> 01:14:27,160
Speaker 6: Yeah, the Federal Reserve, our central bank, has two jobs.

1595
01:14:27,200 --> 01:14:31,240
Speaker 6: Two mandates, right, keep unemployment or keep the country fully employed,

1596
01:14:31,280 --> 01:14:33,240
Speaker 6: which is somewhere between three and a half and four

1597
01:14:33,280 --> 01:14:37,920
Speaker 6: percent unemployment, and also keep inflation in the two to

1598
01:14:37,960 --> 01:14:40,120
Speaker 6: two and a half percent rates. That's where they've traditionally

1599
01:14:40,479 --> 01:14:42,760
Speaker 6: wanted these things to happen. How do they do that.

1600
01:14:42,800 --> 01:14:45,880
Speaker 6: They do that by either raising or lowering interest rates

1601
01:14:45,960 --> 01:14:49,240
Speaker 6: or buying more government securities. But by raising interest rates

1602
01:14:49,720 --> 01:14:52,840
Speaker 6: making money more expensive, people are going to spend less.

1603
01:14:52,880 --> 01:14:56,040
Speaker 6: That's a way for that's a way to keep inflation

1604
01:14:56,160 --> 01:14:58,439
Speaker 6: from rising or to actually help bring it down. We

1605
01:14:58,479 --> 01:15:00,479
Speaker 6: saw that when inflation hit eight point eight eight percent

1606
01:15:00,760 --> 01:15:04,639
Speaker 6: after the pandemic. They raise rates to multi generational highs

1607
01:15:04,800 --> 01:15:07,320
Speaker 6: to do that, and we're still on our way back down. Now.

1608
01:15:07,479 --> 01:15:10,880
Speaker 6: If the economy starts to sputter because we're doing less

1609
01:15:10,920 --> 01:15:14,280
Speaker 6: consumer spending, and just remember that GDP gross domestic product

1610
01:15:14,560 --> 01:15:17,639
Speaker 6: is seventy percent consumer spending. That's us going to the mall,

1611
01:15:17,920 --> 01:15:22,599
Speaker 6: taking a vacation, buying a new pair of Air Force nikes. Frank,

1612
01:15:23,560 --> 01:15:25,880
Speaker 6: that is us spending money, and business is spending money.

1613
01:15:25,880 --> 01:15:29,120
Speaker 6: When we slow down our spending. The FED lowers interest

1614
01:15:29,160 --> 01:15:32,120
Speaker 6: rates to juice the economy makes money cheaper, cheaper to borrow,

1615
01:15:32,200 --> 01:15:36,599
Speaker 6: so we'll spend more, consume more. That usually kickstarts the economy. Now,

1616
01:15:36,640 --> 01:15:39,599
Speaker 6: what we've seen over the past several recessions, going back

1617
01:15:39,800 --> 01:15:43,280
Speaker 6: to the Great Financial Crisis, is when the economy got

1618
01:15:43,280 --> 01:15:45,000
Speaker 6: into really bad shape, whether it was the fault of

1619
01:15:45,040 --> 01:15:48,000
Speaker 6: the banks making bad loans, or whether it's just a

1620
01:15:48,080 --> 01:15:51,240
Speaker 6: COVID all of a sudden knocking everything offline, and all

1621
01:15:51,240 --> 01:15:53,560
Speaker 6: of a sudden, everybody's at home and the economy comes

1622
01:15:53,200 --> 01:15:56,639
Speaker 6: to a sandstill. Well, what does the FED do. It's slammed.

1623
01:15:56,680 --> 01:15:58,920
Speaker 6: It lowers interest rates to the floor. It takes interest

1624
01:15:59,000 --> 01:16:01,840
Speaker 6: rates to zero to stimulate the economy to get people

1625
01:16:01,880 --> 01:16:05,240
Speaker 6: spending again. That's what we did. That's what produced inflation,

1626
01:16:05,439 --> 01:16:08,040
Speaker 6: and that's what got the economy back in gear and

1627
01:16:08,080 --> 01:16:10,880
Speaker 6: the stock market back in gear again. The concern to

1628
01:16:11,040 --> 01:16:13,640
Speaker 6: me now is that there is no moral hazard when

1629
01:16:13,640 --> 01:16:15,040
Speaker 6: you knew the FED was just going to come in

1630
01:16:15,080 --> 01:16:17,320
Speaker 6: and take care of everything, or the government was just

1631
01:16:17,320 --> 01:16:19,960
Speaker 6: going to put helicopter rain, helicopter money all over the

1632
01:16:20,000 --> 01:16:22,479
Speaker 6: economy to get us spending again, whether that was through

1633
01:16:22,479 --> 01:16:25,880
Speaker 6: stimulus payments or what have you, or through tarp back

1634
01:16:25,920 --> 01:16:28,880
Speaker 6: in the Great Financial Crisis? Is this the type of

1635
01:16:28,880 --> 01:16:31,000
Speaker 6: administration that will do that? Are they going to come

1636
01:16:31,000 --> 01:16:32,840
Speaker 6: to the rescue of the economy that they're kind of

1637
01:16:32,880 --> 01:16:34,439
Speaker 6: burning down right now? Or are they going to let

1638
01:16:34,479 --> 01:16:38,320
Speaker 6: it burn and in the process destroy tens of millions

1639
01:16:38,360 --> 01:16:40,880
Speaker 6: of households and their wealth going forward? And that's a

1640
01:16:40,960 --> 01:16:43,640
Speaker 6: huge question right now. And how much control does the

1641
01:16:43,720 --> 01:16:46,560
Speaker 6: FED really have? The FED always said it remains independent.

1642
01:16:46,680 --> 01:16:49,479
Speaker 6: I'm in Washington, DC right now, guys. Tomorrow morning, I'm

1643
01:16:49,479 --> 01:16:52,080
Speaker 6: going to an interview with FED chair Powell. I'm not

1644
01:16:52,160 --> 01:16:53,519
Speaker 6: interviewing him, but I'm going to be in the room

1645
01:16:53,560 --> 01:16:55,200
Speaker 6: when it's happening because I want to hear what he

1646
01:16:55,200 --> 01:16:56,560
Speaker 6: has to say about this. But he's not going to

1647
01:16:56,600 --> 01:16:59,040
Speaker 6: say anything because he knows he doesn't have the power

1648
01:16:59,120 --> 01:16:59,479
Speaker 6: right now.

1649
01:17:02,280 --> 01:17:05,040
Speaker 2: Extremely insightful, extremely insightful conversation.

1650
01:17:05,600 --> 01:17:09,200
Speaker 5: Well, can I hit you guys with two things really quick?

1651
01:17:09,439 --> 01:17:11,720
Speaker 5: Tomorrow on CNBC, We're gonna have the Microsoft CEO. I

1652
01:17:11,720 --> 01:17:14,280
Speaker 5: believe my colleague John Ford, He's gonna be doing the interview.

1653
01:17:14,800 --> 01:17:17,120
Speaker 5: For anybody has a no follow John Ford man, he's

1654
01:17:17,160 --> 01:17:19,960
Speaker 5: the pre eminent voice. When it comes to tech, he's

1655
01:17:19,960 --> 01:17:22,800
Speaker 5: the Walter Cronkit to tech, He's Brian Gumblin tech right,

1656
01:17:22,800 --> 01:17:24,559
Speaker 5: and any other thing you want to throw in there

1657
01:17:26,320 --> 01:17:29,519
Speaker 5: to your other point about robotics and everything personally, and

1658
01:17:29,520 --> 01:17:31,559
Speaker 5: this is just me. This is not you know, I'm

1659
01:17:31,680 --> 01:17:33,760
Speaker 5: instructing a body to do this. It's just insight into

1660
01:17:33,800 --> 01:17:35,840
Speaker 5: what I do. I'm a big believer in investing in

1661
01:17:35,840 --> 01:17:37,559
Speaker 5: the Triple Q's in the max of and I think

1662
01:17:37,960 --> 01:17:39,560
Speaker 5: at least a couple of those companies are going to

1663
01:17:39,600 --> 01:17:42,720
Speaker 5: win when it comes to AI agents automation, at least

1664
01:17:42,760 --> 01:17:45,280
Speaker 5: a couple of them. And probably when you look at

1665
01:17:45,320 --> 01:17:47,479
Speaker 5: the Triple Ques, a bunch of them, a bunch of

1666
01:17:47,560 --> 01:17:50,799
Speaker 5: them are gonna either do his software or do the agents.

1667
01:17:50,880 --> 01:17:52,760
Speaker 4: I mean, just various companies in there.

1668
01:17:53,439 --> 01:17:55,439
Speaker 5: Then the other thing mutual friend of all of us,

1669
01:17:55,520 --> 01:17:58,040
Speaker 5: John hop Brien, he's doing an event tomorrow. Business plan

1670
01:17:58,120 --> 01:18:00,320
Speaker 5: for America. I think all of us have come up

1671
01:18:00,320 --> 01:18:02,160
Speaker 5: with our personal business plan. We got to think about

1672
01:18:02,160 --> 01:18:04,080
Speaker 5: what happens if we face a recession. It's not just

1673
01:18:04,080 --> 01:18:06,479
Speaker 5: about saving money, it's just what do you pivot to

1674
01:18:07,560 --> 01:18:09,080
Speaker 5: right now? If you're just doing a job just for

1675
01:18:09,160 --> 01:18:10,640
Speaker 5: a check and it may go away. How do you

1676
01:18:10,640 --> 01:18:12,559
Speaker 5: pivot to doing what you actually want to do and

1677
01:18:12,600 --> 01:18:15,160
Speaker 5: you're passionate about. As you guys mentioned, this is a

1678
01:18:15,200 --> 01:18:18,520
Speaker 5: crisis about. Out of all crisis or crises come opportunity.

1679
01:18:18,920 --> 01:18:22,280
Speaker 5: New businesses will be created, New industries will be created,

1680
01:18:23,400 --> 01:18:25,720
Speaker 5: even just new nonsense will be creative. People come up

1681
01:18:25,760 --> 01:18:28,040
Speaker 5: with new things that they're just interested in to waste time.

1682
01:18:28,160 --> 01:18:30,120
Speaker 5: And I'm not dissing anybody, but the Ashton Hall thing.

1683
01:18:30,240 --> 01:18:33,000
Speaker 5: People are now buying Saratoga water and squeeze the lemons

1684
01:18:33,040 --> 01:18:36,320
Speaker 5: and dipping their face in bowls. There's gonna be some

1685
01:18:36,360 --> 01:18:38,679
Speaker 5: other craze like that during the pan I mean during

1686
01:18:38,680 --> 01:18:40,800
Speaker 5: the recession, if we have one, it's gonna be so

1687
01:18:40,800 --> 01:18:43,400
Speaker 5: many opportunities. So you know me, like and I think

1688
01:18:43,400 --> 01:18:45,040
Speaker 5: everybody else out there, you should be going with your

1689
01:18:45,080 --> 01:18:45,639
Speaker 5: own business plan.

1690
01:18:45,680 --> 01:18:47,640
Speaker 4: Make sure you're doing the things that you want to

1691
01:18:47,680 --> 01:18:49,240
Speaker 4: do and not just the things you have to do.

1692
01:18:49,680 --> 01:18:51,800
Speaker 6: Right, be the CEO of your own life. Never more

1693
01:18:51,800 --> 01:18:52,720
Speaker 6: important than right now.

1694
01:18:53,680 --> 01:18:57,680
Speaker 2: That's fun. Well, thank you, gentlemen. First of all, everybody

1695
01:18:57,960 --> 01:19:00,439
Speaker 2: Ring Holland has the show on c CNBCF five o'clock

1696
01:19:00,479 --> 01:19:04,559
Speaker 2: in the morning every day, and uh, Investorpedia is a

1697
01:19:04,600 --> 01:19:07,640
Speaker 2: website that I've been using for years and is a

1698
01:19:07,720 --> 01:19:10,680
Speaker 2: great resource, probably the top resource on the net when

1699
01:19:10,720 --> 01:19:14,639
Speaker 2: it comes to learning about different Like it's all stuff

1700
01:19:14,680 --> 01:19:16,360
Speaker 2: that you can actually type in and it gives you

1701
01:19:16,400 --> 01:19:21,720
Speaker 2: detailed information. So today, yeah for sure. So and they

1702
01:19:21,760 --> 01:19:25,360
Speaker 2: both have come to invest Fest invest Fast alumni. They've

1703
01:19:25,400 --> 01:19:27,679
Speaker 2: done a variety of different things with US Market Monday.

1704
01:19:29,320 --> 01:19:29,920
Speaker 4: Yeah lovely.

1705
01:19:30,080 --> 01:19:32,120
Speaker 1: Yeah, we got we gotta, we gotta get we gotta

1706
01:19:32,120 --> 01:19:33,679
Speaker 1: get John Man, we got to get them on the show.

1707
01:19:34,439 --> 01:19:34,840
Speaker 2: Let's do it.

1708
01:19:34,880 --> 01:19:38,360
Speaker 4: I mean, man, you guys need to connect.

1709
01:19:38,439 --> 01:19:41,080
Speaker 2: Absolutely, And thank you guys, because yeah, we talked about

1710
01:19:41,120 --> 01:19:43,240
Speaker 2: it before. But I said, I said, in my opinion,

1711
01:19:43,240 --> 01:19:44,760
Speaker 2: I think invest Fest this year, this is gonna be

1712
01:19:44,800 --> 01:19:49,200
Speaker 2: the most important year because it's always important to get information,

1713
01:19:49,320 --> 01:19:52,559
Speaker 2: but it's even more important in times of crisis. The

1714
01:19:52,640 --> 01:19:56,160
Speaker 2: information and the relationships. Those are the two most important

1715
01:19:56,160 --> 01:19:58,719
Speaker 2: things that's really going to propel you during times of crisis.

1716
01:19:58,720 --> 01:20:01,960
Speaker 2: So what's your guy experience would investments before we leave, like,

1717
01:20:02,000 --> 01:20:04,880
Speaker 2: what's your because you you've both experienced it. So I'm

1718
01:20:04,920 --> 01:20:07,080
Speaker 2: just always interested to see how other people view it

1719
01:20:07,120 --> 01:20:08,479
Speaker 2: because it's kind of hard for me to view it

1720
01:20:08,479 --> 01:20:10,360
Speaker 2: because I'm on the outside. I'm in, like you know,

1721
01:20:10,479 --> 01:20:13,080
Speaker 2: on the perimeter. So you guys inside of it, how

1722
01:20:13,160 --> 01:20:15,160
Speaker 2: is it? Well?

1723
01:20:15,880 --> 01:20:19,200
Speaker 5: Excellent vibe, the energy is amazing. Everybody's there to learn.

1724
01:20:19,320 --> 01:20:22,800
Speaker 5: People are taking notes, they're listening. They're also engaging with

1725
01:20:22,840 --> 01:20:23,280
Speaker 5: each other.

1726
01:20:23,720 --> 01:20:23,920
Speaker 2: You know.

1727
01:20:24,040 --> 01:20:26,600
Speaker 5: It's just it's almost like a collegial environment. It's like

1728
01:20:26,600 --> 01:20:29,080
Speaker 5: you're on a college campus. Almost everybody feels comfortable to

1729
01:20:29,080 --> 01:20:31,719
Speaker 5: speak to each other, ask questions. I think the panels

1730
01:20:31,720 --> 01:20:33,439
Speaker 5: have been amazing. I really enjoyed them, not only the

1731
01:20:33,439 --> 01:20:35,160
Speaker 5: ones I'm moderated, but I just got to watch some

1732
01:20:35,200 --> 01:20:37,720
Speaker 5: of the other ones. I found it highly educational, and

1733
01:20:37,760 --> 01:20:39,680
Speaker 5: I really would tell other people you got to.

1734
01:20:39,680 --> 01:20:41,559
Speaker 4: Come at least for one day. Just got to come

1735
01:20:41,600 --> 01:20:42,880
Speaker 4: and experience it for one day.

1736
01:20:43,320 --> 01:20:46,200
Speaker 5: Spend the day there, walk through the other area where

1737
01:20:46,240 --> 01:20:49,080
Speaker 5: you have people with blues and things like that. Marketplace,

1738
01:20:49,680 --> 01:20:53,080
Speaker 5: marketplace exactly. It's just a great experience, a lot of

1739
01:20:53,160 --> 01:20:55,800
Speaker 5: like minded people. If you're someone that wants to learn, grow,

1740
01:20:56,120 --> 01:20:57,759
Speaker 5: just grow yourself and also grow your wealth.

1741
01:20:58,479 --> 01:21:02,719
Speaker 6: Yeah, I'd say it's, you know, the greatest show in

1742
01:21:02,720 --> 01:21:04,800
Speaker 6: investing right now. And I mean that, and I go

1743
01:21:04,880 --> 01:21:08,200
Speaker 6: to a lot of these where you get high level speakers,

1744
01:21:08,520 --> 01:21:09,640
Speaker 6: really good conversation.

1745
01:21:10,080 --> 01:21:10,880
Speaker 2: You get into it.

1746
01:21:10,920 --> 01:21:13,560
Speaker 6: There's the educational part and there's the showtime part, and

1747
01:21:13,600 --> 01:21:15,439
Speaker 6: you do great at both of those things. But the

1748
01:21:15,439 --> 01:21:18,080
Speaker 6: best part for me is actually sitting in that booth

1749
01:21:18,120 --> 01:21:20,800
Speaker 6: area in the marketplace area, just talking to people and

1750
01:21:20,840 --> 01:21:23,559
Speaker 6: having people come up and ask me questions about money

1751
01:21:23,600 --> 01:21:25,760
Speaker 6: and their own personal finances, make sure they're on the

1752
01:21:25,800 --> 01:21:28,680
Speaker 6: right track. Somebody will hear our conversation, Dey'll chime in,

1753
01:21:28,720 --> 01:21:30,799
Speaker 6: and all of a sudden, you got six seven people

1754
01:21:30,960 --> 01:21:33,040
Speaker 6: I've never met in my life. I'm not even from

1755
01:21:33,080 --> 01:21:35,400
Speaker 6: Atlanta who want to talk and engage and help each

1756
01:21:35,400 --> 01:21:38,840
Speaker 6: other out. That spirit of generosity and reciprocity there is

1757
01:21:38,920 --> 01:21:42,080
Speaker 6: unbelievable and it seems like it's totally organic. You guys,

1758
01:21:42,080 --> 01:21:44,720
Speaker 6: just you created this amazing event and people brought that

1759
01:21:44,920 --> 01:21:47,360
Speaker 6: with that energy with them when they came to it

1760
01:21:47,400 --> 01:21:49,599
Speaker 6: because you engendered that and that's what you get out

1761
01:21:49,600 --> 01:21:51,679
Speaker 6: of that. And it's not like it's a thousand people.

1762
01:21:51,760 --> 01:21:54,960
Speaker 6: It's like, you know, thousands and thousands of people all

1763
01:21:54,960 --> 01:21:56,080
Speaker 6: feel in the same vibe.

1764
01:21:57,040 --> 01:21:59,479
Speaker 3: We appreciate you, Caleb. We must have the skateboard there

1765
01:21:59,520 --> 01:21:59,720
Speaker 3: with you.

1766
01:21:59,760 --> 01:21:59,800
Speaker 6: This.

1767
01:21:59,840 --> 01:22:04,639
Speaker 2: Yeah, please will be back now. We appreciate you guys

1768
01:22:04,640 --> 01:22:09,160
Speaker 2: so much, always always adding so much value. Extremely knowledgeable

1769
01:22:09,400 --> 01:22:11,320
Speaker 2: and thank you, thank you so much.

1770
01:22:12,439 --> 01:22:14,320
Speaker 4: It's gonna be on the Emergency Terraff episode.

1771
01:22:14,360 --> 01:22:17,880
Speaker 6: Man Colin to.

1772
01:22:19,400 --> 01:22:22,679
Speaker 2: Man, it's uh, it's it's a crucial time in America

1773
01:22:22,760 --> 01:22:23,160
Speaker 2: right now.

1774
01:22:24,600 --> 01:22:28,920
Speaker 4: Appreciate you doing what you do. Man, people need.

1775
01:22:30,400 --> 01:22:31,120
Speaker 6: Do what you're doing.

1776
01:22:32,080 --> 01:22:34,920
Speaker 3: Yeah, my guy, Frank, I'll give you a call, my brother.

1777
01:22:34,960 --> 01:22:35,559
Speaker 2: Appreciate you.

1778
01:22:35,960 --> 01:22:36,599
Speaker 4: Talk to y'all soon.

1779
01:22:36,680 --> 01:22:42,800
Speaker 2: Man, thank you, yes, sir, Okay, all right, Man, what

1780
01:22:42,840 --> 01:22:43,679
Speaker 2: do we learn today?

1781
01:22:44,080 --> 01:22:45,840
Speaker 1: It was a lot, Man, that was a lot, but

1782
01:22:45,840 --> 01:22:47,920
Speaker 1: it's important, right people, like I said, a lot of

1783
01:22:47,960 --> 01:22:52,160
Speaker 1: a slide uncertainty. I'm glad that the open conversation that

1784
01:22:52,200 --> 01:22:54,320
Speaker 1: people in the chat are even having their own conversations,

1785
01:22:54,320 --> 01:22:58,400
Speaker 1: but giving some type of education around what's happening. Because

1786
01:22:58,400 --> 01:23:00,400
Speaker 1: most people just hear the news and the news happened

1787
01:23:00,439 --> 01:23:02,479
Speaker 1: to them. They don't really know what's going on. So

1788
01:23:02,479 --> 01:23:04,719
Speaker 1: hopefully we got to debunk some things, give some clarity

1789
01:23:04,840 --> 01:23:07,759
Speaker 1: some things, and people make investment decisions and make personal

1790
01:23:07,760 --> 01:23:09,639
Speaker 1: decisions about the information that they received tonight.

1791
01:23:09,720 --> 01:23:11,960
Speaker 2: Man. That's the power relationships. We wasn't planning on doing

1792
01:23:11,960 --> 01:23:15,519
Speaker 2: that episode of this week, but within a couple of

1793
01:23:15,520 --> 01:23:19,559
Speaker 2: hours we we got episode. We promoted on social media.

1794
01:23:20,200 --> 01:23:23,320
Speaker 2: We have good friends, so they came and we had

1795
01:23:23,320 --> 01:23:26,320
Speaker 2: eight thousand people on. So the relationship thing, I'm always

1796
01:23:26,320 --> 01:23:29,400
Speaker 2: gonna talk about relationships because that's the key. That's that's

1797
01:23:29,479 --> 01:23:33,560
Speaker 2: that's the major key in life is relationships. Yeah, so yeah,

1798
01:23:33,600 --> 01:23:36,840
Speaker 2: it will probably get rockier. I'm not gonna lie to you.

1799
01:23:37,400 --> 01:23:40,720
Speaker 2: I think that we were in for this is gonna be.

1800
01:23:40,800 --> 01:23:44,760
Speaker 2: This is gonna be a rocky road. But it's opportunities

1801
01:23:44,760 --> 01:23:48,000
Speaker 2: in every crisis, state, state disciplined, don't gamble dollar cost,

1802
01:23:48,040 --> 01:23:51,920
Speaker 2: average good companies, indexed funds, state of course, put your

1803
01:23:52,000 --> 01:23:56,919
Speaker 2: plan together, don't spend money unnecessarily. Invest in your education.

1804
01:23:59,200 --> 01:24:01,200
Speaker 2: This this is it, man, This is this is it.

1805
01:24:01,800 --> 01:24:04,919
Speaker 2: This is it. Somebody asked when my classes.

1806
01:24:05,160 --> 01:24:10,040
Speaker 1: My class will be shooting for the seventeenth of able

1807
01:24:10,120 --> 01:24:12,439
Speaker 1: to EU y l U all earners. Our class is

1808
01:24:12,479 --> 01:24:15,840
Speaker 1: going to be April seventeenth for our optence class. It's

1809
01:24:15,840 --> 01:24:16,960
Speaker 1: going to be a good one. I got I got

1810
01:24:16,960 --> 01:24:19,680
Speaker 1: some special special guests joining me, so it's gonna be dope.

1811
01:24:19,680 --> 01:24:22,479
Speaker 1: Make sure y'all tune in real quick before you go.

1812
01:24:22,640 --> 01:24:25,519
Speaker 2: There is a host hotel. Somebody asked that in the chat. Okay,

1813
01:24:26,160 --> 01:24:28,479
Speaker 2: if you go to invest fest dot com, I believe

1814
01:24:28,680 --> 01:24:32,599
Speaker 2: the hotel information is on there. Yeah, yeah, I know.

1815
01:24:32,760 --> 01:24:35,560
Speaker 2: It's uh the first the signey is the sign is

1816
01:24:35,600 --> 01:24:36,920
Speaker 2: a whole hotel and you get it, but you get

1817
01:24:36,920 --> 01:24:37,200
Speaker 2: a rate.

1818
01:24:37,479 --> 01:24:40,320
Speaker 1: Yeah, get investment. Go to investments dot com. All the

1819
01:24:40,360 --> 01:24:43,400
Speaker 1: information is there. Make sure y'all get uh get the

1820
01:24:43,439 --> 01:24:46,400
Speaker 1: percentage off on our website to the signia which is

1821
01:24:46,439 --> 01:24:48,240
Speaker 1: actually attached to the venue.

1822
01:24:48,840 --> 01:24:49,200
Speaker 2: You can't.

1823
01:24:49,240 --> 01:24:50,280
Speaker 3: It doesn't get any better than.

1824
01:24:50,439 --> 01:24:52,760
Speaker 2: But this is important. Don't just book the signia on

1825
01:24:52,800 --> 01:24:54,760
Speaker 2: your own because you won't get the discount of rate.

1826
01:24:54,840 --> 01:24:57,160
Speaker 2: Go to investment bestest dot com and you get the

1827
01:24:57,200 --> 01:24:59,639
Speaker 2: discount of rate. But please, the hotel is literally attached

1828
01:24:59,680 --> 01:25:02,080
Speaker 2: to the can Mention Center. Absolutely, that's the best place

1829
01:25:02,120 --> 01:25:02,400
Speaker 2: to stay.

1830
01:25:02,479 --> 01:25:05,280
Speaker 1: Yeah, that was one of the best improvements over the

1831
01:25:05,360 --> 01:25:08,719
Speaker 1: years of investors having that hotel attached to the actual venue.

1832
01:25:08,920 --> 01:25:12,080
Speaker 1: People wake up, they walk downstairs, They on their lunch,

1833
01:25:12,080 --> 01:25:13,760
Speaker 1: they go back to their rooms, get a quick nap,

1834
01:25:13,800 --> 01:25:17,479
Speaker 1: come back downstairs, get ready for the evening, wake up.

1835
01:25:17,479 --> 01:25:19,280
Speaker 1: Do the same thing in the morning, shout out to everybody,

1836
01:25:19,360 --> 01:25:22,320
Speaker 1: all everybody putting it together for August August twenty four.

1837
01:25:22,439 --> 01:25:24,519
Speaker 2: That's the fact, and it's a signia by Hilton.

1838
01:25:24,800 --> 01:25:28,280
Speaker 1: Yes, I was gonna ask you before we go. They're

1839
01:25:28,280 --> 01:25:30,519
Speaker 1: supposed to be a decision here. Maybe there'll be a

1840
01:25:30,560 --> 01:25:34,200
Speaker 1: delay on the TikTok Amazon put that bid in. Larry

1841
01:25:34,200 --> 01:25:35,880
Speaker 1: Ellison is the front runner. What's your thoughts.

1842
01:25:36,240 --> 01:25:38,680
Speaker 2: I heard the Amazon plays not getting taken seriously from

1843
01:25:38,720 --> 01:25:43,360
Speaker 2: the administration. Yeah, Larry Ellison somebody that is very good

1844
01:25:43,360 --> 01:25:47,800
Speaker 2: with Trump, So you know, I think that's gonna have you.

1845
01:25:47,880 --> 01:25:49,439
Speaker 2: Caleb brought a good point as far as that they

1846
01:25:49,520 --> 01:25:52,520
Speaker 2: might be burning down on purpose to make to privatize

1847
01:25:52,560 --> 01:25:55,680
Speaker 2: everything and to help the people strategic people around them

1848
01:25:55,680 --> 01:25:59,599
Speaker 2: that's extremely rich and get very more, get more richer. Yeah,

1849
01:25:59,840 --> 01:26:01,400
Speaker 2: that would be one of those people, right. That would

1850
01:26:01,439 --> 01:26:04,840
Speaker 2: be a person who directly benefit from this situation is

1851
01:26:04,880 --> 01:26:05,759
Speaker 2: somebody like Larry.

1852
01:26:06,240 --> 01:26:08,479
Speaker 3: Yes, he said, more Richard, more wealthy. Same thing.

1853
01:26:09,960 --> 01:26:13,400
Speaker 2: Look, I don't think Grandma's important at that. Yes, I

1854
01:26:13,400 --> 01:26:15,720
Speaker 2: think man, we on the we on the verge of

1855
01:26:15,720 --> 01:26:20,000
Speaker 2: a global depression. Yes, I don't think how you spelled

1856
01:26:20,000 --> 01:26:23,400
Speaker 2: there matter. I don't think I don't think it's gonna matter.

1857
01:26:23,439 --> 01:26:27,200
Speaker 2: I'll be honest with you. They're them those I don't

1858
01:26:27,200 --> 01:26:29,519
Speaker 2: think if you spelled two with two o's on one O,

1859
01:26:29,720 --> 01:26:31,920
Speaker 2: you can spell it with the letter the number two

1860
01:26:32,520 --> 01:26:35,080
Speaker 2: at this point, just the number Yo. You better, this

1861
01:26:35,120 --> 01:26:40,360
Speaker 2: is getting serious out loves Grandma or you. The punctuation

1862
01:26:40,560 --> 01:26:44,160
Speaker 2: is not gonna matter when when a robot is doing

1863
01:26:44,200 --> 01:26:46,480
Speaker 2: everybody's job. Yeah, I predicted.

1864
01:26:47,280 --> 01:26:49,880
Speaker 1: I asked that because in our class I was talking

1865
01:26:49,880 --> 01:26:52,479
Speaker 1: about Larry Ellison's relationship with Trump. But the fact that

1866
01:26:52,479 --> 01:26:54,920
Speaker 1: they already had a partnership with TikTok to run their

1867
01:26:55,320 --> 01:26:58,840
Speaker 1: data in twenty twenty during the pandemic. They already have

1868
01:26:58,920 --> 01:27:03,160
Speaker 1: relationship there with with optimizing their information for that platform.

1869
01:27:03,280 --> 01:27:07,080
Speaker 1: The fact that Stargate and that announcement happened in early January,

1870
01:27:07,160 --> 01:27:08,080
Speaker 1: right around the inauguration.

1871
01:27:08,160 --> 01:27:09,559
Speaker 3: Larry Elson has been popping up.

1872
01:27:10,080 --> 01:27:12,360
Speaker 1: There's there's some signs there that that oracle is gonna

1873
01:27:12,720 --> 01:27:16,200
Speaker 1: be a heavy, heavy player in that TikTok situation. So

1874
01:27:16,880 --> 01:27:19,519
Speaker 1: that should happen, I think on the fifth. So we'll

1875
01:27:19,520 --> 01:27:21,920
Speaker 1: see by Malcolm Monday's we'll know what happens. Either is

1876
01:27:21,960 --> 01:27:24,479
Speaker 1: gets delayed or gets get it gets brought out.

1877
01:27:24,560 --> 01:27:26,720
Speaker 2: But for one thing, for sure, Yeah, I knew that

1878
01:27:26,760 --> 01:27:31,120
Speaker 2: TikTok wasn't going away, and it didn't go away to Oracle,

1879
01:27:31,360 --> 01:27:34,759
Speaker 2: like he said, people love TikTok. People will love Instagram.

1880
01:27:34,880 --> 01:27:37,599
Speaker 2: They're gonna keep using it. Certain things you could boy talk,

1881
01:27:37,640 --> 01:27:40,839
Speaker 2: you could boycott Target, but into Instagram's off limits.

1882
01:27:41,080 --> 01:27:42,920
Speaker 1: And if you're still in the chat, man, we're gonna

1883
01:27:42,920 --> 01:27:44,000
Speaker 1: have a conversation about.

1884
01:27:43,880 --> 01:27:47,519
Speaker 3: Nike on on Monday. Screw in, big trouble.

1885
01:27:48,000 --> 01:27:51,519
Speaker 2: Nike is really screwed. But forget market. Monday will be

1886
01:27:51,600 --> 01:27:52,280
Speaker 2: very interesting.

1887
01:27:52,520 --> 01:27:55,439
Speaker 1: Oh my gosh, Yeah, be interesting one for sure. We're

1888
01:27:55,439 --> 01:27:58,439
Speaker 1: gonna have a conversation about that. Yeah, for locker, you

1889
01:27:58,520 --> 01:28:06,400
Speaker 1: on the clock, you're next, You're next, You're next.

1890
01:28:06,680 --> 01:28:12,679
Speaker 2: Keep your composure, Keep your composure. Trump hell of a guy,

1891
01:28:13,080 --> 01:28:18,679
Speaker 2: is Trump? You know, there's there's a thing on TikTok

1892
01:28:18,720 --> 01:28:20,760
Speaker 2: now is like you know, the running thing was that

1893
01:28:20,840 --> 01:28:22,959
Speaker 2: he's a good businessman, so he'd be good for the economy.

1894
01:28:23,360 --> 01:28:25,720
Speaker 2: Is he really a good businessman though he's had like

1895
01:28:25,800 --> 01:28:29,360
Speaker 2: over ten bankruptcies at the question. He's a great marketer.

1896
01:28:29,400 --> 01:28:33,000
Speaker 2: We can never take that away. He's a great marketer,

1897
01:28:34,040 --> 01:28:36,479
Speaker 2: you know what, But the businessman thing is up up

1898
01:28:36,520 --> 01:28:40,000
Speaker 2: for question at this point, because we really got to

1899
01:28:40,040 --> 01:28:43,599
Speaker 2: consider that because of the bankruptcies, I mean just in general,

1900
01:28:43,600 --> 01:28:45,800
Speaker 2: he's running a lot of companies into the ground. This

1901
01:28:46,120 --> 01:28:48,800
Speaker 2: he lost the he lost the election last time because

1902
01:28:48,840 --> 01:28:52,320
Speaker 2: of the economy. I've never they said, they've never seen

1903
01:28:52,360 --> 01:28:55,640
Speaker 2: a president manufacturer recession in eighty days. That's this is

1904
01:28:55,640 --> 01:29:00,559
Speaker 2: pretty historic. Ye, like he's manufactured. That's why I.

1905
01:29:00,479 --> 01:29:02,920
Speaker 1: Feel like there's it's going to be all right here

1906
01:29:02,920 --> 01:29:05,519
Speaker 1: it is. Here's how I save the day. The Here

1907
01:29:05,600 --> 01:29:08,040
Speaker 1: is how I say the day. Moment is coming. It's

1908
01:29:08,040 --> 01:29:10,640
Speaker 1: just about when it happens, until he's not able to

1909
01:29:10,640 --> 01:29:12,519
Speaker 1: do it, until you can't say the day, until you

1910
01:29:12,560 --> 01:29:13,280
Speaker 1: can't say the day.

1911
01:29:13,479 --> 01:29:14,479
Speaker 3: No, he's propping this thing.

1912
01:29:14,439 --> 01:29:16,760
Speaker 2: Up as you go too far, He's going really far,

1913
01:29:17,160 --> 01:29:18,920
Speaker 2: not far enough. Yeah, China said, I don't know what

1914
01:29:18,960 --> 01:29:21,200
Speaker 2: you're doing. I want to see what they said. Literally says,

1915
01:29:21,360 --> 01:29:23,680
Speaker 2: I don't know, I don't know. I don't know what

1916
01:29:23,720 --> 01:29:24,160
Speaker 2: you're doing.

1917
01:29:25,320 --> 01:29:28,559
Speaker 1: There was the one of the premiers from Canada said, oh,

1918
01:29:28,600 --> 01:29:31,280
Speaker 1: if they dropped terrorists, we'll drop him today. They're like,

1919
01:29:31,320 --> 01:29:33,799
Speaker 1: but you've had tell us. He's like, we'll drop everything today.

1920
01:29:34,720 --> 01:29:38,559
Speaker 1: Let's let's let's do this. It's a it's a to

1921
01:29:38,600 --> 01:29:41,160
Speaker 1: say it's an interesting time. As an understatement, this is

1922
01:29:41,200 --> 01:29:44,280
Speaker 1: an unprecedented time. Like I said, like we can't predict.

1923
01:29:44,520 --> 01:29:48,040
Speaker 1: We can look at historical analytics, right like I got

1924
01:29:48,080 --> 01:29:50,679
Speaker 1: this almanac, kid, that that traces the hitting the history

1925
01:29:50,680 --> 01:29:53,559
Speaker 1: of the market for the past ninety years. Ain't nothing

1926
01:29:53,600 --> 01:29:56,200
Speaker 1: like this, guy, Ain't nothing like this time. We've never

1927
01:29:56,240 --> 01:29:58,600
Speaker 1: seen it. This is this is gonna be in a

1928
01:29:58,720 --> 01:30:00,920
Speaker 1: history books. We're living in it.

1929
01:30:01,439 --> 01:30:05,840
Speaker 2: Di. This is the real DI. A bunch of people

1930
01:30:05,880 --> 01:30:10,000
Speaker 2: that have no idea what they're doing, the real DI.

1931
01:30:10,320 --> 01:30:12,360
Speaker 2: That's the raster crazy thing about it. This is the

1932
01:30:12,400 --> 01:30:14,200
Speaker 2: real DI plan. You got a bunch of people that

1933
01:30:14,280 --> 01:30:16,280
Speaker 2: have no idea what they're doing. That's just running them up.

1934
01:30:16,479 --> 01:30:20,160
Speaker 2: We should have Corey Booker on here. Corey Booker spoke

1935
01:30:20,200 --> 01:30:23,680
Speaker 2: for twenty seven hours. I'm not sure what that accomplished.

1936
01:30:24,560 --> 01:30:26,360
Speaker 2: He literally spoke for twenty seven.

1937
01:30:26,520 --> 01:30:28,719
Speaker 1: People cheering them on, like, yeah, this is the person

1938
01:30:28,760 --> 01:30:30,840
Speaker 1: we need to stand up for us twenty seven hours.

1939
01:30:30,880 --> 01:30:33,400
Speaker 2: I don't know it's speaking for twenty seven hours accomplish this?

1940
01:30:33,520 --> 01:30:34,760
Speaker 2: I don't know. I don't know.

1941
01:30:35,000 --> 01:30:37,360
Speaker 1: Maybe they can help me, chat, y'all can help. I'm

1942
01:30:37,400 --> 01:30:39,360
Speaker 1: not sure do you remember any of it?

1943
01:30:39,520 --> 01:30:42,240
Speaker 2: Like, how do you retain? How do you prepare for that?

1944
01:30:42,400 --> 01:30:42,880
Speaker 2: Number one?

1945
01:30:43,600 --> 01:30:50,160
Speaker 3: He didn't even sit down there said.

1946
01:30:47,880 --> 01:30:53,200
Speaker 2: Utter foolishness, that's what that was. That would utter foolishness.

1947
01:30:54,040 --> 01:30:58,519
Speaker 1: Oh, Man, twenty seven hours, that's gonna be a new song.

1948
01:31:01,400 --> 01:31:03,400
Speaker 1: How long it's feel about their history? Yeah, you're right,

1949
01:31:03,560 --> 01:31:05,439
Speaker 1: I'm just not sure what it what it does?

1950
01:31:06,439 --> 01:31:07,920
Speaker 2: Did he he did he not have to go to

1951
01:31:07,960 --> 01:31:10,120
Speaker 2: the bathroom? Yeah, how does that happen? He like he

1952
01:31:10,120 --> 01:31:15,120
Speaker 2: had a diaper on? Yeah, probably probably at least he

1953
01:31:15,160 --> 01:31:16,919
Speaker 2: got in at least he got in history books.

1954
01:31:17,040 --> 01:31:20,880
Speaker 3: Yeah, you can't stop that. Twenty four he.

1955
01:31:21,200 --> 01:31:23,520
Speaker 2: Broke Seank shran Thurman's record.

1956
01:31:24,040 --> 01:31:26,280
Speaker 1: But what did Thatt accomplish when he did it? I'm

1957
01:31:26,320 --> 01:31:30,280
Speaker 1: not sure gained attention? You're right, it did gain attention.

1958
01:31:30,439 --> 01:31:34,080
Speaker 1: We're talking about it. So it is said he had

1959
01:31:34,080 --> 01:31:37,240
Speaker 1: definity in the system.

1960
01:31:37,600 --> 01:31:42,799
Speaker 2: Coca cola. Ya that coca cola, chat Yo wild cola.

1961
01:31:43,960 --> 01:31:46,000
Speaker 3: It is the only way somebody could be awake for.

1962
01:31:46,040 --> 01:31:49,040
Speaker 2: Twenty four hours off those pills. Man.

1963
01:31:49,080 --> 01:31:52,880
Speaker 1: Allegedly he is allegedly we got to say allegend no,

1964
01:31:53,360 --> 01:31:56,480
Speaker 1: we've seen allegedly a couple of things have happened. Allegedly

1965
01:31:56,760 --> 01:31:59,800
Speaker 1: our name out there, allegedly everything's.

1966
01:31:59,439 --> 01:32:02,000
Speaker 2: Alleged entertainment purposes only.

1967
01:32:04,000 --> 01:32:08,360
Speaker 1: Yo, be good to each other. Keep your seat built

1968
01:32:08,400 --> 01:32:11,439
Speaker 1: on out here. We will get through this. We will

1969
01:32:11,439 --> 01:32:13,559
Speaker 1: get through this. Love is love, man. We love y'all.

1970
01:32:13,560 --> 01:32:15,679
Speaker 1: Thank you all for tuning in. Thank y'all for rocking

1971
01:32:15,760 --> 01:32:19,280
Speaker 1: with us. We see y'all Monday, See y'all Monday.

1972
01:32:19,360 --> 01:32:21,120
Speaker 4: Peace love.

1973
01:32:22,360 --> 01:32:23,880
Speaker 2: Take out the audio. This is going to be audio.

1974
01:32:24,000 --> 01:32:25,120
Speaker 2: Also yeah, running back.

1975
01:32:27,840 --> 01:32:31,519
Speaker 7: An illegal alien from Guatemala charged with raping a child

1976
01:32:31,560 --> 01:32:35,360
Speaker 7: in Massachusetts. An MS thirteen gang member from Al Salvador

1977
01:32:35,600 --> 01:32:39,720
Speaker 7: accused of murdering a Texas. Man of Venezuelan charged with

1978
01:32:39,800 --> 01:32:43,680
Speaker 7: filming and selling child pornography in Michigan. These are just

1979
01:32:43,800 --> 01:32:47,559
Speaker 7: some of the heinous migrant criminals caught because of President

1980
01:32:47,600 --> 01:32:51,120
Speaker 7: Donald J. Trump's leadership. I'm Christine Noman, the United States

1981
01:32:51,200 --> 01:32:56,000
Speaker 7: Secretary of Homeland Security. Under President Trump, attempted illegal border

1982
01:32:56,000 --> 01:32:59,519
Speaker 7: crossings are at the lowest levels ever recorded, and over

1983
01:32:59,560 --> 01:33:02,720
Speaker 7: one hundred wrede thousand illegal aliens have been arrested. If

1984
01:33:02,760 --> 01:33:06,400
Speaker 7: you are here illegally, your next you will be fine

1985
01:33:06,479 --> 01:33:10,559
Speaker 7: nearly one thousand dollars a day, imprisoned, and deported. You

1986
01:33:10,640 --> 01:33:14,160
Speaker 7: will never return. But if you register using our CBP

1987
01:33:14,320 --> 01:33:17,040
Speaker 7: home app and leave now, you could be allowed to

1988
01:33:17,120 --> 01:33:21,920
Speaker 7: return legally. Do what's right. Leave now. Under President Trump

1989
01:33:22,080 --> 01:33:25,679
Speaker 7: America's laws, border and families will be protected.

1990
01:33:25,800 --> 01:33:27,920
Speaker 2: Sponsored by the United States Department of Homeland Security,