Global Uncertainy Around Markets:: How to be Prepared

100:00:02,560 --> 00:00:06,200Good morning, everybody. It's thattime once again, Sunday morning, eight200:00:06,200 --> 00:00:10,160o'clock for two Hours're gonna talk toyou right here on the Money Matter Show300:00:10,199 --> 00:00:14,240seven ninety K and His Tea.We appreciate you joining us here. We400:00:14,279 --> 00:00:16,760appreciate you've been listening. We've beendoing this a long time. On a500:00:16,879 --> 00:00:21,039thirty fourth year, thirty four yearsI've been doing this radio show, and600:00:21,079 --> 00:00:29,600I'm gonna tell you right now,I don't remember the geopolitical and a political700:00:30,519 --> 00:00:36,159situation being so messed up that they'reso cloudy, and how we're gonna get800:00:36,200 --> 00:00:41,399out of this house is gonna helpour economy somehow, some way. Our900:00:41,439 --> 00:00:46,280market's just hanging there. There's somuch uncertainty, which is telling me,1000:00:46,320 --> 00:00:50,759if we can get through all thisstuff, the earnings are going to continue1100:00:50,799 --> 00:00:54,960to get better like they were onFriday for the banks at least, and1200:00:55,000 --> 00:00:58,960we could have a good rally somewheredown the road. But I think we're1300:00:58,960 --> 00:01:03,960gonna have some bumps, and I'mcautious. There's no way I wanted to1400:01:03,040 --> 00:01:08,280leave on Friday and be aggressive.I can tell you that on a technical1500:01:08,319 --> 00:01:14,079basis, we're getting close to theforty three hundred level, and if we1600:01:14,120 --> 00:01:19,599break that, obviously there will beanother support level. But there's so much1700:01:19,719 --> 00:01:26,959going on in the world. I'mscratching my head, and it's all affecting1800:01:26,000 --> 00:01:30,760the markets. I mean, didyou see oil on Friday? It jumped1900:01:32,840 --> 00:01:41,400four and a half almost five percent? Why because now it's sanctioning more sanctions2000:01:41,439 --> 00:01:46,920on Russia. So you weren't tellingus the truth before when you sanctioned them.2100:01:47,319 --> 00:01:49,319The biggest problem we have is peoplearound the world, not just in2200:01:49,280 --> 00:01:53,439the United States, but around theworld. Governments are not telling us the2300:01:53,480 --> 00:01:59,200truth. Big surprise. Huh,It's unbelievable. What's going on? Think2400:01:59,200 --> 00:02:04,319about it. You know, we'rein this situation that we can't even get2500:02:04,359 --> 00:02:15,360a speaker of the house. Waris breaking out in Israel. They're attacking2600:02:15,400 --> 00:02:23,159them from both sides. Ukraine astolen war with Russia, and now we2700:02:23,240 --> 00:02:28,639push sanctions on more sanctions about oiland we watch it go up through the2800:02:28,639 --> 00:02:32,759moon. Do we really see what'shappening here and how it's affecting the markets?2900:02:34,039 --> 00:02:38,000And we have to talk about it. We do, because if we3000:02:38,039 --> 00:02:46,080don't talk about it, these thingsare going to affect the markets, even3100:02:46,120 --> 00:02:50,800though right now they're not they willoil go up rightes that go down or3200:02:50,919 --> 00:02:55,599up, Something's gonna happen. Peoplewho are not gonna feel comfortable. We're3300:02:55,599 --> 00:03:00,639gonna we're gonna have problems on ourstreets. If we could take to let3400:03:00,719 --> 00:03:10,240people that are just morally bankrupt toactually believe that Israel did something wrong here3500:03:14,120 --> 00:03:21,560and allow them to go ahead andbasically hate Jews for land that they got3600:03:21,719 --> 00:03:28,280after the Holocaust. But this isnot I'm not talking about the Palestinian people.3700:03:29,560 --> 00:03:32,719Them and israelities. They get along, they work together, a lot3800:03:32,719 --> 00:03:36,479of them live in the same place, a lot of them get married.3900:03:37,400 --> 00:03:49,000I'm talking about Hamas and head Bola. Those are terrorist groups. Those are4000:03:49,120 --> 00:03:57,479killers. Those are people without anymorals. Those are the people disrupting the4100:03:57,560 --> 00:04:01,639world. It's always that way.It's the few that have the biggest say4200:04:02,039 --> 00:04:09,520in what happens, and his needsto stop today. We need to stop4300:04:09,560 --> 00:04:18,279it now. How does Palestinians allowthe terrorists to be manipulating them in their4400:04:18,279 --> 00:04:28,639own countries? And then Iran says, no, we're not involved, and4500:04:28,720 --> 00:04:35,639Biden says, okay, are youkidding me? Think about when Trump was4600:04:35,680 --> 00:04:41,759in and the peace accord that cameabout and as soon as Biden goes in,4700:04:42,240 --> 00:04:45,240he broke that up because he wantedto get back to a deal with4800:04:45,279 --> 00:04:53,800Iran. We have a very veryscary president in the White House right now4900:04:55,120 --> 00:05:00,879who has made decisions with Ukraine ando decisions with i Ran. That a5000:05:01,040 --> 00:05:09,720leading to this stuff and it's goingto affect our economy. We can't keep5100:05:09,839 --> 00:05:15,800getting money all around the world whileour economy is doing what it's doing with5200:05:15,879 --> 00:05:24,480inflation. And don't be surprised ifthe next thing that happens is Taiwan again.5300:05:25,240 --> 00:05:30,600Nobody is going to try to attackus militarily. We are the strongest5400:05:30,680 --> 00:05:35,199military in the world, but thatdoesn't mean they don't want to try to5500:05:35,240 --> 00:05:43,720crumble us with our economy. Theseare things we got to talk about how5600:05:43,720 --> 00:05:47,920it's going to affect the markets.This is a Money Matter show and it5700:05:48,000 --> 00:05:53,480is brought to you by Greenberg FinancialGroup. Everything and anything we talk about5800:05:53,519 --> 00:06:00,600has risks. Could have political risk, that geopolitical risk. You could have5900:06:00,720 --> 00:06:03,879business risk. It could have marketrisk. You could have interest rate risk,6000:06:03,959 --> 00:06:09,279inflation risk, reinvestment risk, youname it. There's risk involved.6100:06:11,240 --> 00:06:15,040Understand the risk involved before you invest. If you're investing with somebody, make6200:06:15,040 --> 00:06:23,439sure they understand you your goals,your needs, your liquidity. Make sure6300:06:24,160 --> 00:06:28,360you're on the same page as yourmoney manager, your investment advisor. Make6400:06:28,360 --> 00:06:32,040sure you do a financial plan withthem so they know where it's coming from.6500:06:32,720 --> 00:06:35,720Yes, we do all those things. That doesn't mean we can deal6600:06:35,720 --> 00:06:41,639with every single person. So I'mtelling you make sure the person you're dealing6700:06:41,680 --> 00:06:46,000with is doing this for you.If not, check out other people,6800:06:46,120 --> 00:06:53,399including us. Somebody out there willhelp you get to where your goals are.6900:06:53,720 --> 00:07:00,399In this tumultuous times, we areclimbing a all of worry that's so7000:07:00,600 --> 00:07:02,480high right now. I don't knowif we're going to get over it.7100:07:04,319 --> 00:07:10,399And we have an administration and theCongress and politics that are just feeding to7200:07:10,600 --> 00:07:16,879the negative. We live in Americaand we allow hatred on one side but7300:07:16,959 --> 00:07:25,720not the other. Why did Jewscanternally continually get the ones that are hammered7400:07:25,839 --> 00:07:33,040and allowed to do this. Ifanybody was going against Black Lives Matter when7500:07:33,040 --> 00:07:41,759they were protesting around, they wereshut down. When people go ahead and7600:07:41,800 --> 00:07:46,680try to have pro life protests,they get shut down. Things that the7700:07:46,720 --> 00:07:54,120people on the right actually want tohave rallies for. There's so much pushback7800:07:54,160 --> 00:07:59,720on the other side. But everyliberal thing that happens, it's okay,7900:08:00,399 --> 00:08:05,839And now the liberals are going tosee what's happening. I can't even talk8000:08:05,879 --> 00:08:11,600to people that are so disgraceful rightnow thinking that this is not going on8100:08:11,639 --> 00:08:22,399and this is his real fault.I just can't people denying thinking it's false8200:08:22,480 --> 00:08:28,279facts that people, babies, children, women are getting slaughtered. When the8300:08:28,319 --> 00:08:33,840pictures are coming across, where doyou think to get these pictures? People?8400:08:35,120 --> 00:08:41,200Where do you think this is happening? And the unbelievable thing is how8500:08:41,679 --> 00:08:56,399they let their god down, believingwhatever was going on from Palestine that everything8600:08:56,480 --> 00:09:03,159was cool. They Infolch traded theIsraelis. They were on the other side8700:09:03,679 --> 00:09:09,440of the fence. They came throughthe fence when they were ready going small8800:09:09,440 --> 00:09:13,879holes. They already had people onthe other side being able to go through8900:09:13,919 --> 00:09:22,159the cities killing people. They werealready there. Then they first came through9000:09:22,200 --> 00:09:28,639on motorcycles, then they came throughon bigger military vehicles. Now they're coming9100:09:28,679 --> 00:09:35,480back down from the from the north. This has been planned. They're not9200:09:35,639 --> 00:09:39,279smart enough on their own and Itell you right now, they don't have9300:09:39,360 --> 00:09:46,480the money. Hamas and Helibas donot have the money. So when our9400:09:46,519 --> 00:09:50,360administration doesn't think that Iran is inthere, what else are they lying to9500:09:50,440 --> 00:10:01,879us about I Ran is involved?And if they're not prove it, find9600:10:01,919 --> 00:10:07,000the missiles at those three thousand,six ten, twenty thousand missiles that they9700:10:07,080 --> 00:10:13,720keep sending over. Where they're comingfrom. Where they get the money from9800:10:13,879 --> 00:10:16,759oil? Oil oil? We cutoff right right? What do you think9900:10:16,759 --> 00:10:24,720they're getting all these people are buyingoil from these bad actors. They get10000:10:24,759 --> 00:10:31,440money for terrorism, they get moneyfor training terrorism. I'm sick to my10100:10:31,600 --> 00:10:35,799stomach watching what's going on, andnot just because I'm Jewish, because my10200:10:35,879 --> 00:10:39,600heart goes out for the Palestinians whohave nothing to do with this. Also,10300:10:41,919 --> 00:10:46,480this is humanitarian at the highest level, and no one is talking about10400:10:46,600 --> 00:10:52,039the same damn thing is happening onour border. If you don't think for10500:10:52,200 --> 00:10:58,559one second they have been infiltrating theUnited States of America, then you're not10600:10:58,720 --> 00:11:09,080paying attention. Their whole mode ofterrorism is infiltrate, infiltrate, set a10700:11:09,200 --> 00:11:18,360time and then let it rip.They have infiltrated our flight schools. Before10800:11:18,519 --> 00:11:24,559nine to eleven, we were teachingthem how to fly those planes right into10900:11:24,559 --> 00:11:35,799the building. They're infiltrating our governmentagencies. They're infiltrating our water supply,11000:11:35,240 --> 00:11:43,519our electrical grids. They're working therebecause we're so afraid to say anything because11100:11:43,600 --> 00:11:50,039it's not right. Well, Idon't care if you're white, you're black,11200:11:50,120 --> 00:11:54,360you're Iranian, you're Palestinian, Israeli, whatever it is. We better11300:11:54,440 --> 00:11:58,279do better background checks on people andkeep wondering where's going on, and if11400:11:58,279 --> 00:12:03,200we feel this something wrong, wehave to have the right to make sure11500:12:03,240 --> 00:12:07,120that there's nothing going wrong. Weneed to shut down that border immediately.11600:12:07,360 --> 00:12:11,159If you can't see that as aproblem with what's happening in the Middle East,11700:12:11,919 --> 00:12:18,639that wake up. We only talkabout what it's costing us. What11800:12:18,720 --> 00:12:28,840is it going to do is costus in lives the home grown twenty years11900:12:28,919 --> 00:12:35,000later. Don't think for one secondthey haven't been going ahead and infiltrating the12000:12:35,080 --> 00:12:39,840minds of people in America. Ido not want to see terrorism in this12100:12:39,960 --> 00:12:43,600country, but it's gonna happen becauseyou know why, we allow hatred.12200:12:45,919 --> 00:12:52,840What's going on on the university groundsin the cities of New York is atrocious,12300:12:54,600 --> 00:12:58,720and the idiots that come on tellyou that didn't happen. That was12400:12:58,799 --> 00:13:03,159false information. They're not killing anyone, They didn't do that stuff. We12500:13:03,200 --> 00:13:09,519wanted a back, We want ourland back. What land? Why don't12600:13:09,519 --> 00:13:16,679you get rid of the people causingthe problems, get rid of the terrorists.12700:13:16,720 --> 00:13:28,639Nobody wants to talk about Alhamas andHeals terrorist groups except a few people12800:13:28,720 --> 00:13:31,360mentioned it out there. But thepeople that live don't want to say that12900:13:33,639 --> 00:13:37,159they are terrorist groups. And youknow, the roles of the law were13000:13:37,240 --> 00:13:43,240terrorism. They have none because theydon't know anything else. They've been educated13100:13:43,279 --> 00:13:48,519to slaughter, to take over,to rebel. They call it a resistance.13200:13:48,600 --> 00:13:54,320Well this continues, we will beat war because we will back Israel13300:13:56,120 --> 00:14:01,879and where the dominoes fall after that, we can't even start the war over13400:14:01,919 --> 00:14:09,840there in Ukraine we do these halfassed wars. Well, Israel's not going13500:14:09,919 --> 00:14:13,120to be a half assed war.People and Israel, as we all look13600:14:13,159 --> 00:14:16,679at, Oh they're tough, they'rethere, they can take care of themselves.13700:14:16,879 --> 00:14:20,679Hell no, not with today's technology. This isn't twenty thirty forty years13800:14:20,759 --> 00:14:33,039ago when they were so much moreadvanced. Thank god for Raytheon and giving13900:14:33,080 --> 00:14:37,000them that protection dome from all thosemissiles and you know some still get through,14000:14:37,559 --> 00:14:41,639but now they have the ability totarget the technology to hit Tel Aviv,14100:14:41,879 --> 00:14:48,639to hit Jerusalem. How do youthink the markets are going to get14200:14:48,679 --> 00:14:52,559affected by all this? What isthe market's going to do when we go14300:14:52,679 --> 00:14:58,720and go after and find out thatIran is behind this and we are going14400:14:58,799 --> 00:15:03,240to put so much pressure uh onBiden to do something. Oh, that's14500:15:03,320 --> 00:15:07,120right, we can't because the idiotRepublicans came and get a damned person as14600:15:07,120 --> 00:15:13,679a Speaker of the House. NowI get what they're trying to do,14700:15:13,600 --> 00:15:18,440and there's some good points there,but you got to compromise. The Democrats14800:15:18,480 --> 00:15:24,039get in line, they vote,and they get the power. We conflict14900:15:24,080 --> 00:15:30,840with each other all the time,and we lose power. And we're the15000:15:30,879 --> 00:15:35,600ones that understand. You don't gothrough what we're going through. If you're15100:15:35,639 --> 00:15:41,360tough, you think that the terroristsunderstand talk. You think they care about15200:15:41,399 --> 00:15:48,360wokeness, You think they care aboutanything other than taking over Israel and killing15300:15:48,399 --> 00:15:54,919every Jew that they can. Andthat hatred spills here and we allow it15400:15:54,960 --> 00:16:02,440on our campuses and in our citystreets. It's raw, it's wrong,15500:16:03,720 --> 00:16:07,639and it needs to stop. Butamazingly switching over to the markets, the15600:16:07,679 --> 00:16:11,279market actually went up a little bitthis week of half a percent on the15700:16:11,360 --> 00:16:15,279S and P five hundred. NAZACwas down trading in this area back and15800:16:15,399 --> 00:16:22,000forth. It can't get traction,but earnings were good. But it's not15900:16:22,039 --> 00:16:23,759going to have the ability to gohigh because no one's going to commit a16000:16:23,759 --> 00:16:29,879lot of money to this thing untilwe see the Fed and his geopolitical and16100:16:29,919 --> 00:16:37,320political scenarios get better. We're ina very bad quandary right now. We're16200:16:37,360 --> 00:16:41,879not taking care of ourselves. Wekeep talking about how we don't have enough16300:16:41,960 --> 00:16:48,879money. Our cities are complaining thatwhen they get a few of the refugees16400:16:48,919 --> 00:16:52,440that are coming over, that theycan't handle it. But they don't care16500:16:52,440 --> 00:16:56,639about the border states one bit.We've been complaining Texas have been complaining for16600:16:56,720 --> 00:17:03,000a long period of time, theDemocratic country states. You know what all16700:17:03,080 --> 00:17:06,799they complain about is to get money, and they do. They always get16800:17:06,839 --> 00:17:15,960more money. We got problems.That's why you need to stay cautious in16900:17:17,039 --> 00:17:19,559the markets. You need to beable to mitigate risk. I don't care17000:17:19,640 --> 00:17:25,319even if they rally ten percent,that's great, and I'm only fifty or17100:17:25,359 --> 00:17:30,480sixty percent invested. I'm okay withthat because right now it's more of a17200:17:30,519 --> 00:17:36,359mindset, and the mindset is there'sso much stuff going around the world.17300:17:36,359 --> 00:17:40,640I'd rather be safe than sorry.And I used to say, okay,17400:17:40,640 --> 00:17:41,319you got to get avent, becauseyou know what, we had less than17500:17:41,359 --> 00:17:47,079one percent in the money market,so the risk was okay. But right17600:17:47,119 --> 00:17:52,200now the risk is not okay becauseone day we can come in and some17700:17:52,400 --> 00:18:02,400maniac did something. God forbid ifthere's any nucleus stuff used, and you'll17800:18:02,400 --> 00:18:06,759see this thing drop so fast,so hard, until they got their handners17900:18:06,799 --> 00:18:14,160around it. God forbid. Wehave terrorist attacks that are actually taking place18000:18:14,200 --> 00:18:26,240in America, coordinated boom boom boomboom that will just freeze us. And18100:18:26,279 --> 00:18:30,799we are so split. People areso split, people tired of all this18200:18:30,839 --> 00:18:40,839stuff. The only good news I'mhearing the people that didn't vote for Trump,18300:18:41,400 --> 00:18:44,480They're going, I'm changing my mind. I can't take this anymore.18400:18:45,039 --> 00:18:48,720I want Trump. I don't careif I don't like them. I can't18500:18:48,720 --> 00:18:56,640believe internationally we're involved with all this. And they don't like weak people and18600:18:56,680 --> 00:18:59,799that's all we have. They don'tlike being lied to. They don't like18700:18:59,799 --> 00:19:06,720that having answers to So we're seeinga turn by those people that like voted18800:19:06,720 --> 00:19:11,079for Biden, wanted Biden, hatedTrump. Now they're like, Okay,18900:19:11,440 --> 00:19:15,200maybe I don't like the guy,but I certainly don't like what's going on19000:19:15,279 --> 00:19:19,680in this country right now. Nobody, and I mean nobody. I could19100:19:19,680 --> 00:19:26,240talk to things. We don't havea border problem, but yet all we19200:19:26,319 --> 00:19:33,039hear is rhetoric. Why is itour own state take it into their hands19300:19:33,319 --> 00:19:37,599and close off the borders, sayhere, just like Texas is trying to19400:19:37,599 --> 00:19:41,359do. So what you get suedby the government, So what ain't gonna19500:19:41,359 --> 00:19:51,799go anywhere? Were They're gonna sueus for trying to protect ourselves. It's19600:19:52,000 --> 00:19:59,920wrong and it's going to affect themarkets. Oil stocks. Oil itself rallied19700:20:00,039 --> 00:20:03,119big last week, still not backto the ninety one level where we were19800:20:03,160 --> 00:20:06,720not too far ago. But ifwe keep going down this world, we'll19900:20:06,720 --> 00:20:10,480beat one hundred one hundred and ten. And of course we don't drill,20000:20:11,119 --> 00:20:15,640and of course we have too muchregulation on our own oil. Well,20100:20:15,640 --> 00:20:19,559it's time for us to reverse thatcourse and say, you know what,20200:20:21,359 --> 00:20:26,599we're shutting down anybody that wants toget oil from Russia or Iran. That20300:20:26,640 --> 00:20:30,599way, it's only bad actors dealingwith bad actors. And we will help20400:20:30,640 --> 00:20:41,400supply natural gas and we will helpsupply the oil and oil prices will come20500:20:41,440 --> 00:20:47,599down which will help inflation. Andwe help our allies, We help the20600:20:47,839 --> 00:20:51,759NATO, we help the countries thatwe have, but yet we still get20700:20:51,799 --> 00:20:56,759something for it because we are nowselling them oil and natural gas, our20800:20:56,880 --> 00:21:03,680oil, our natural gas. Andthen when things get better, we can20900:21:03,720 --> 00:21:11,599open up other areas. But weneed to be energy independent, and we21000:21:11,680 --> 00:21:18,319need to help our allies to beenergy independent with us so they don't have21100:21:18,359 --> 00:21:22,759to go to Russia or Iran,and we can make a deal with Saudi21200:21:22,799 --> 00:21:32,920Arabia and help and go through it. We need to be there. We21300:21:33,000 --> 00:21:37,319need to be doing these things.Earnings. Surprisingly, we're good for the21400:21:37,359 --> 00:21:41,279banks with these high interest rates.So the big banks know what they're doing.21500:21:41,559 --> 00:21:45,079It's going to be the small banksthat are going to have the problems.21600:21:45,599 --> 00:21:48,079Not because they don't know what they'redoing. They don't have the ability21700:21:48,680 --> 00:21:52,880to do have trading areas, todo M and A, to do other21800:21:52,960 --> 00:21:57,359ways to be able to bring inthe income. That's where the problems are21900:21:57,359 --> 00:22:02,119going to be because loans are goingto start having problems, credit cards are22000:22:02,160 --> 00:22:07,599going higher, savings are going down. They're going to break this economy.22100:22:08,200 --> 00:22:12,079I don't think that's a good idea. I think we can live where we22200:22:12,119 --> 00:22:18,000are. Inflation's coming down a littlebit. Don't raise interestrates anymore. You22300:22:18,160 --> 00:22:22,559have to because it starts taking offand heated. Raise them again. You're22400:22:22,559 --> 00:22:26,039weren't that smart to raise them whenwe had all the inflationary figures on the22500:22:26,079 --> 00:22:32,200table, because of why, becausethe election was coming up. We should22600:22:32,240 --> 00:22:37,079have after the pandemic, that's whenwe should have started raising interest rates.22700:22:37,319 --> 00:22:40,400We knew that was going to beinflationary. We need the government to stop22800:22:40,440 --> 00:22:45,359spending so much money. We getthose things done, we'll be fine.22900:22:45,599 --> 00:22:48,960But in all this, I'm justgonna tell you right now, when it23000:22:48,960 --> 00:22:52,599comes to your portfolio, it comesto your savings, how to do this,23100:22:52,640 --> 00:22:56,279how to get through this. Youbetter have a financial plan, and23200:22:56,359 --> 00:23:00,240you better know how to mitigate riskand how to be cautious and how to23300:23:00,240 --> 00:23:03,480get through it. It's not abouthow much you return, It's about how23400:23:03,559 --> 00:23:07,160much you get your principal back ifyou lose. How much are you going23500:23:07,200 --> 00:23:14,440to lose. Mitigate that risk.If something happens in markets crash thirty forty23600:23:14,440 --> 00:23:17,640percent, what are you going todo? You want to be down less23700:23:17,680 --> 00:23:21,839than that and have cash on theside to be able to buy stay in23800:23:21,960 --> 00:23:26,720quality, quality, quality, qualityright now, quality bonds, bond loners,23900:23:26,799 --> 00:23:32,200government bonds are paying good money rightnow. Great corporations are paying good24000:23:32,240 --> 00:23:36,359money right now to buy their bondsfor one year, two years, three24100:23:36,400 --> 00:23:40,160years, four years, five years. You do a bond loner. You24200:23:40,319 --> 00:23:45,799do things like that. Mitigate yourrisk, and don't think you know.24300:23:45,920 --> 00:23:49,440They always talk about annuities are guaranteed. They have that guarantee. They say24400:23:49,440 --> 00:23:53,119they're guaranteed. But if hell goesto everything goes to hell in a hand24500:23:53,160 --> 00:23:57,799basket, they're gonna have problems payingtwo. So don't think it's just a24600:23:57,839 --> 00:24:02,799one way street. Be smart abouteverything you do. A newity's work.24700:24:02,839 --> 00:24:07,759In many situations. We see adisaster. Even gold isn't going to get24800:24:07,759 --> 00:24:11,400you what you want, might goup at price where you gonna sell it24900:24:11,440 --> 00:24:14,480to. All right, we'll beback. It's the money matter show.25000:24:15,440 --> 00:24:18,720I appreciate you listening to what Ihad to say today. I'm not a25100:24:18,759 --> 00:24:21,839happy person. What's going on.We need to fix it. We need25200:24:21,880 --> 00:24:25,359to fix it quickly. We needto fix it with smart people. Thank25300:24:25,400 --> 00:24:32,680you for listening to me. Rightback say it's a welcome back everybody to25400:24:32,799 --> 00:24:36,960the Money Matter Show. We gotDave and Dylan and Todd and myself here25500:24:37,359 --> 00:24:42,160to talk about everything that's going onfrom the from the geopolitical, the political,25600:24:42,279 --> 00:24:45,440and how it affects the markets.And uh, like I said in25700:24:45,480 --> 00:24:49,880my monologue, you're better be cautiousbecause you don't know what's gonna happen.25800:24:49,880 --> 00:24:52,920You don't know what happened during theweekend, you don't happen to overnight,25900:24:52,960 --> 00:24:56,000you don't not how much does anyof this stuff escalate. I mean,26000:24:56,039 --> 00:25:00,640I think you did mention any ofyour monologue. The market's been in there26100:25:00,640 --> 00:25:03,680pretty well thinking that this will bea typical Israeli war, you know,26200:25:03,720 --> 00:25:07,720over in a week or ten days, and maybe not, maybe this will26300:25:07,759 --> 00:25:11,640be different. But that's been thehistory, and there's been lots of wars26400:25:11,680 --> 00:25:15,680in Israel, and they generally takecare of them pretty quickly. Oh here's26500:25:15,720 --> 00:25:22,640the deal. They're usually ending prettyquickly because Israeli always a blind military from26600:25:22,720 --> 00:25:26,680us, and we have the best, and they don't. But over the26700:25:26,799 --> 00:25:33,200years they've caught up. And I'mnot saying hesbalalah, and I'm not saying26800:25:33,279 --> 00:25:37,960Amas. I'm saying Iran, right, Russia, China, They've all got26900:25:38,000 --> 00:25:44,799the ability to have the technology thatwe have and get it to them.27000:25:45,000 --> 00:25:47,680Yeah, I mean that's a wholedifferent story. But Hamas is not flying27100:25:47,720 --> 00:25:51,960around in jets. Okay, Hesbalis not flying around in jets. You27200:25:52,000 --> 00:25:56,599know, they have limited resources,limited things they can do. What they27300:25:56,599 --> 00:26:00,720have on their side is anger.I guess from who knows what. We27400:26:00,799 --> 00:26:03,680still don't know how they got everythinginto those that's the big question. Three27500:26:03,680 --> 00:26:08,240thousand, three thousand the first day, how many have been there? Tens27600:26:08,279 --> 00:26:12,680of thousands of rockets have been shotoff, And and that's the disturbing part27700:26:12,720 --> 00:26:17,839is how does Israel and or theUnited States not see that happening? I27800:26:17,839 --> 00:26:21,160don't know, not see that movie? Where's the CIA? Where's where's the27900:26:21,599 --> 00:26:26,680the people? For Israel, they'reusually the best, the best. Okay,28000:26:26,759 --> 00:26:29,440what are we doing here? How'sour FBI? Oh, that's right,28100:26:29,480 --> 00:26:33,079our FBI who can't care, doesn'tcare about anything but not letting Trump28200:26:33,119 --> 00:26:37,599get in right, where's our FBIat the border. Who's coming across here?28300:26:37,759 --> 00:26:40,359I am telling you, I hateto think about it, but they're28400:26:40,400 --> 00:26:42,640infiltrating us. Dave. I thinkthere's and it doesn't take a lot.28500:26:42,720 --> 00:26:45,880Someone said the other day, wellyou know how many could there be?28600:26:45,920 --> 00:26:48,519Well, how many did it taketo do nine to eleven twelve? I28700:26:48,519 --> 00:26:52,799mean there wasn't. It wasn't ahundred people. And in our country has28800:26:52,799 --> 00:26:56,240become so oh you can't say that, Oh I'm going to cancel you.28900:26:56,279 --> 00:27:03,240Oh you're a racist, which meanseveryone's got to look at your way and29000:27:03,319 --> 00:27:06,839until it happens to them, Dave, Yeah, until it happens to them,29100:27:07,279 --> 00:27:10,960that's when everything changes. Now,there are certain people that you know29200:27:11,039 --> 00:27:14,400in your life, and we seethem on TV every day. With this29300:27:14,799 --> 00:27:18,319Israeli situation that you're simply not goingto reason with. You cannot sit down29400:27:18,680 --> 00:27:22,039and work it out with those people. You have people in your life.29500:27:22,079 --> 00:27:26,039I have people in my life thatyou know, and politically I just cannot29600:27:26,119 --> 00:27:30,480talk anything politically with them. Itjust doesn't It just doesn't go there.29700:27:30,880 --> 00:27:34,599More importantly, because this is themoney matters, show Social Security cost of29800:27:34,640 --> 00:27:38,200living in adjustment three point two percent. I want to thank everyone for working29900:27:38,319 --> 00:27:41,680and contributing, so we get alittle bit more money. I know,30000:27:41,759 --> 00:27:48,839I just I just started looking intogetting signed up. And it's interesting because30100:27:51,880 --> 00:27:55,480not only do we pay, weget Social Security that we've paid for the30200:27:55,480 --> 00:27:59,519whole time. Rightly, we basicallygetting a money back. That's all we're30300:27:59,519 --> 00:28:03,720doing our money. But you're right, but we got taxed on the money30400:28:03,720 --> 00:28:08,319for Social Security. We get socialSecurity, we get taxed again. Well,30500:28:08,319 --> 00:28:14,000we didn't get taxed on the SocialSecurity sociality. You are taxed on30600:28:14,000 --> 00:28:15,759it, so it's taken out ofyour pay and then set aside for you30700:28:15,759 --> 00:28:18,440know, they're sending it back toyou and taxing you, taxing it,30800:28:18,519 --> 00:28:22,279yeah, because there's never been taxed. But if you're working on this never30900:28:22,279 --> 00:28:25,640if you're working, guess what happens. Well, you get paid, you31000:28:25,640 --> 00:28:26,640pay tax, you have to paymore. No, I get it.31100:28:26,720 --> 00:28:29,880I get that, and they're stillthey're still taking it. And then you31200:28:29,880 --> 00:28:32,559get taxed on and they're still takingit out of our checks. Right it's31300:28:32,880 --> 00:28:34,359you get it taken out of yourcheck. So how much you really get31400:28:34,640 --> 00:28:37,799out of the thirty five hundred bucks? You know what I mean? Yeah,31500:28:38,000 --> 00:28:41,079Well, your your first thing youMedicare party comes out of there,31600:28:41,119 --> 00:28:45,359So then I have fifteen percent withall for taxes. Right, Oh,31700:28:45,400 --> 00:28:48,799I get twenty six hundred or whatever, But that's twenty six hundred I wasn't31800:28:48,799 --> 00:28:52,359getting. And I'm glad to know. It's just amazing. How and then31900:28:52,680 --> 00:28:55,480and now the money you put ineach month, Yeah, I'm probably back32000:28:55,480 --> 00:29:00,640into security for the year. Weput money back into so secure. Good32100:29:00,640 --> 00:29:03,480playing inferent ways. You know,we had we had two more two economic32200:29:03,559 --> 00:29:07,119numbers this week, but were notgreat, and the market just shrugged them32300:29:07,160 --> 00:29:12,359off. The PPI and the CPI, we're both a little hotter than what32400:29:12,680 --> 00:29:18,839they wanted to see. So you'vegot the Israeli conflict. War. It's32500:29:18,960 --> 00:29:22,200war. I guess I can callwar because they declared war. You've got32600:29:22,200 --> 00:29:26,319the Israeli war, and you've gotCPI and PPI. You've got interest rates32700:29:26,279 --> 00:29:32,559creeping up. What oil jumped fouror five bucks on Friday after the Biden32800:29:32,599 --> 00:29:36,480administration said they're gonna clamp down onRussia. Did you think they already did32900:29:36,559 --> 00:29:41,680that? Wouldn't you think that theytold us they did that They're finally gonna33000:29:41,720 --> 00:29:45,759get serious about Russian oil and bargoa year and a half into this Ukraine33100:29:45,839 --> 00:29:48,799war. You say the stock marketdidn't react, it's true, but there33200:29:48,880 --> 00:29:52,559was some reaction in the bond market. We saw rates come down a little33300:29:52,559 --> 00:29:56,119bit this week, and so thatgave way to the dollar giving back some33400:29:56,240 --> 00:30:00,400of its weekly gains that had fromthe previous week, and we saw gold33500:30:00,559 --> 00:30:04,440run because of it. I meangold has had its best week since March.33600:30:04,839 --> 00:30:10,920That was just that was all Friday, and it was all concerns about33700:30:10,960 --> 00:30:14,599the war. It was also concernsabout going into a weekend. Rates also33800:30:14,640 --> 00:30:17,599dropped on CPI Day, so itwasn't just Friday. But no, what33900:30:17,759 --> 00:30:21,319no gold, Gold was one hundredpercent Gold was Friday one hundred Friday,34000:30:21,400 --> 00:30:23,759right, And it wasn't about thedollar. We know that gold moves with34100:30:23,799 --> 00:30:26,880the dollar, and it wasn't becausethe dollar dropped. It was the dollar34200:30:26,960 --> 00:30:30,880was pretty stable all week. Itwas because of this. I want to34300:30:30,880 --> 00:30:33,799load up on gold in case somethinghappens this weekend. That's really big.34400:30:36,559 --> 00:30:38,839So if Monday, if nothing happens, it's really big. Who's no,34500:30:38,880 --> 00:30:41,799it's Monday. It could be downfifty bucks. Gold is an interesting,34600:30:42,359 --> 00:30:45,680an interesting vehicle right now. Typicallymoves with the dollar, it didn't this34700:30:45,759 --> 00:30:52,119week, a dollar was relatively flat. Did you say vehicle, Oh yeah,34800:30:52,119 --> 00:30:56,359did give me a hard time todaybecause yeah, garage here. Yeah,34900:30:56,480 --> 00:31:00,000I was down for the day becauseyour electricity went. It turned out35000:31:00,079 --> 00:31:03,799I was one of I'm one offifty one houses in the city of Tucson35100:31:03,160 --> 00:31:07,480that doesn't have power. And therewas a transformer issue, but it only35200:31:07,480 --> 00:31:11,799affected fifty one houses, So they'renot they're not paying attention to the thousands35300:31:11,880 --> 00:31:17,000of homes that have electric vehicles thathave power. They're gonna pick on me35400:31:17,799 --> 00:31:22,559because you talked about how great itis and everything else, and it is,35500:31:22,640 --> 00:31:25,799it's got good qualities to it.But this is what happens when you35600:31:25,799 --> 00:31:29,880don't have electricity. You can't goanywhere. The same goes for a gas35700:31:29,880 --> 00:31:32,319powered car because if you don't haveelectricity, you can't pump it out of35800:31:32,359 --> 00:31:36,400the ground. You can't get thegas in your car. It's that simple.35900:31:36,559 --> 00:31:38,559But you can fill it up andget five hundred and some odd miles36000:31:38,559 --> 00:31:41,400out of it, Okay, andif you go down halfway and if you36100:31:41,400 --> 00:31:44,279fill it up each time, youat least sit in there. Also,36200:31:45,039 --> 00:31:47,160I can say gallons, that's yourhouse. Yeah, you can have extra36300:31:47,200 --> 00:31:52,240gallons? Can I act you're stirringgasoline at your house that you can.36400:31:52,920 --> 00:31:56,160You're not getting out of this one, Dave. You're talking about you have36500:31:56,279 --> 00:31:57,759promoted this for so long. No, no, I'm not promoted. And36600:31:57,759 --> 00:32:00,119then what you had to do youhad to go up because you only one36700:32:00,160 --> 00:32:04,319clock can work. Now, yeah, I'm not promoting it that well.36800:32:04,359 --> 00:32:08,799You're promoted heartily. You know.I've actually had a couple of myav garages36900:32:08,839 --> 00:32:13,440have been negative. You know what'swrong? Things that are wrong. This37000:32:13,519 --> 00:32:15,319is wrong, things that are wrong. But because the other thing we talk37100:32:15,400 --> 00:32:20,920about too is not having enough electricityfor different reasons, not enough stations,37200:32:20,920 --> 00:32:24,759not enough this. But we alsotalked about if there's a disaster you know37300:32:24,759 --> 00:32:29,160what I mean, and you haveto get out of town and electricity went37400:32:29,200 --> 00:32:31,359out, you can't get your carand drive out. I mean, think37500:32:31,359 --> 00:32:35,319about it when people evacuate. No, no, no, that's not true.37600:32:35,400 --> 00:32:38,960I mean they charge you charge thecar following the manufacturer's advice, you37700:32:39,079 --> 00:32:43,720charge the car every evening, sopower goes out, you got ninety percent37800:32:43,799 --> 00:32:46,160charge, will get you have togo how far? You know the range37900:32:46,160 --> 00:32:51,119is three hundred and thirty miles.I would say about two hundred would be38000:32:51,599 --> 00:32:54,839we'll see. The bottom line isis a lot more negatives than positives.38100:32:54,920 --> 00:33:00,920The positive it's a sexy car,you don't have to pay for gas and38200:33:00,039 --> 00:33:04,400it drives great. And I don'tagree that there's a lot more negative than38300:33:04,480 --> 00:33:07,599positive, but I think they're prettyequal. You can't get your car and38400:33:07,599 --> 00:33:10,799turn the key and go, butyou can, you can. I had38500:33:10,839 --> 00:33:13,799no problems this morning, you know, I had no problems at all.38600:33:13,920 --> 00:33:16,240No, I agree there's a lotmore negative than positives because of the costs38700:33:16,319 --> 00:33:21,160of the CO two penalty to actuallybring the ev to life in the first38800:33:21,160 --> 00:33:23,759place. I know, well,and then you only have that one car38900:33:23,880 --> 00:33:27,440that he was able to get outin a garage. But guess what then39000:33:27,480 --> 00:33:31,359they couldn't get opened the garage.So help out when electricity goes out.39100:33:31,400 --> 00:33:36,359Bottom line is what I'm saying.It's a problem and all electric grid Let's39200:33:36,359 --> 00:33:38,920face the guys, it needs someupdating. Well in Tucson, if somebody39300:33:38,960 --> 00:33:43,440sneezes the power goes out. Imean, you know, the bright sunny39400:33:43,519 --> 00:33:46,279day, eighty degrees and there's nopar what in the hell only one of39500:33:46,359 --> 00:33:52,559fifty one? You believe that fiftyone houses in the whole city of Tucson,39600:33:52,680 --> 00:33:54,920and mind is one of them.How do you get up this morning?39700:33:55,279 --> 00:33:58,200How do you know what that?It was still on when I got39800:33:58,240 --> 00:34:00,720up. Okay, yeah, Iwas still on interest rates edge lower Todd.39900:34:00,759 --> 00:34:02,720We talked about that a little bit. They were down three percent on40000:34:02,759 --> 00:34:08,719the week. The actual yield oilpopped on Friday, about four percent on40100:34:08,800 --> 00:34:14,760Friday again, those Titan sanctions againstRussia up about five bucks on the week40200:34:14,800 --> 00:34:17,119to eighty seven seventy gold up fiftyeight bucks and a week. All of40300:34:17,119 --> 00:34:22,599that was Friday, nineteen twenty seven. I remember it was twenty one hundred,40400:34:22,679 --> 00:34:24,639not that long ago, so thatit had to rally fifty eight bucks40500:34:24,639 --> 00:34:30,199to get back to nineteen twenty seven. Tenure yield the spread between the tenure40600:34:30,239 --> 00:34:34,920and the two year hanging in thereabout forty three basis points. I think40700:34:35,000 --> 00:34:38,320last week it was forty basis points. So that's down from one hundred basis40800:34:38,320 --> 00:34:42,840points, which is what it wasfor most of the year. So that40900:34:43,280 --> 00:34:45,320deal spread is aar and Bitcoin downfive percent. What's going on there,41000:34:45,360 --> 00:34:49,920Todd? Nothing much, I mean, other than just people maybe trying to41100:34:50,679 --> 00:34:52,880look at the FTX trial. Imean that'd be pretty bad trading right now.41200:34:52,960 --> 00:34:54,960Yeah, I just maybe I know, maybe a little profit taking after41300:34:55,000 --> 00:34:59,639it had pretty strong a few months. Yeah, I mean I think it.41400:35:00,199 --> 00:35:01,559I mean, nothing really going onright there. So yeah, it's41500:35:01,559 --> 00:35:05,800still a puff its bottoms too.It's trading around twenty six twenty seven thousand41600:35:06,039 --> 00:35:08,559for coin. Yeah it is.I was thinking coming in a Monday,41700:35:08,559 --> 00:35:14,199I was thinking, boy, raytheonor really go because we saw that iron41800:35:14,280 --> 00:35:17,840dome that is over Israel, andthat iron dome is provided the courtesy of41900:35:17,840 --> 00:35:21,480everything on. Do we have anion dome here? I don't think so.42000:35:22,239 --> 00:35:24,679I'm sure they have one. Dothey have an iron dome? Over42100:35:24,719 --> 00:35:30,760weighte on over the eightyon plan?Right? But you would think that.42200:35:30,840 --> 00:35:34,079You know, you said they shoutoff three thousand missiles, Well that's three42300:35:34,119 --> 00:35:37,639thousand patriots to intercept those three thousandmissiles. I do believe we have a42400:35:37,679 --> 00:35:40,000system where if anything was to gopop up on radar, we have fighter42500:35:40,079 --> 00:35:43,800jets and we have something. Iknow, we have some things. We42600:35:43,880 --> 00:35:45,800just I don't even want to knowabout all of it. I just want42700:35:45,800 --> 00:35:49,440to know protect us. We gotit. You're listening to the Money Bout42800:35:49,480 --> 00:35:52,480of Show. It's much appreciated.There's a lot to talk about. Imber.42900:35:52,559 --> 00:35:55,440You need help mitigate risks doing anything, call us, We'll sit down43000:35:55,440 --> 00:36:05,000with you. We'll be right backthe Welcome Back Everybody, Money Matter Show43100:36:05,119 --> 00:36:08,599with Todd, Dylan, Dave,myself, Dean. We appreciate you listening.43200:36:08,800 --> 00:36:13,239You know. I hope you pickedup a little earlier. The way43300:36:13,280 --> 00:36:17,159I'm looking at these markets right now, I want them to rally, but43400:36:17,280 --> 00:36:24,360hope it's not a strategy. Fundamentally, our economy is pretty good, but43500:36:24,480 --> 00:36:30,400externally everything could turn that around ina heartbeat. Interest rates can go up,43600:36:30,559 --> 00:36:32,920the war can get worse. Wecan have terrorist attacks in the United43700:36:32,960 --> 00:36:37,719States. We have so many otherthings that can happen. It's time to43800:36:37,719 --> 00:36:40,760be cautious because I don't think we'relow enough where I can say, you43900:36:40,800 --> 00:36:45,320know, we bought hearing something happened. We're low enough on evaluations that people44000:36:45,320 --> 00:36:50,000which just use it as a buyingopportunity. If something happened right now,44100:36:50,760 --> 00:36:53,239I think the selling would last fora while because it would take so long44200:36:53,280 --> 00:36:55,280to come back. You know whatI'm saying. I can't disagree with that.44300:36:55,400 --> 00:36:59,480I can't. Yeah, I thinkyou're right, Dane. The market44400:37:00,000 --> 00:37:02,400we does want to go higher here, but you're right, a black swan44500:37:02,440 --> 00:37:07,760event, something, a major escalationof the Israeli war, those are things44600:37:07,800 --> 00:37:09,960that you have to worry about.Dean. You said, you know,44700:37:09,960 --> 00:37:13,800we talked about the commody. Iheard you stand in your monologue that the44800:37:13,800 --> 00:37:16,679Fed is going to keep pushing himtill something breaks. We had a local44900:37:16,800 --> 00:37:23,960example of just how something can break. What that means. Park Mall was45000:37:24,000 --> 00:37:30,639recently purchased for eighty seven million dollars. It has an outstanding loan of one45100:37:30,719 --> 00:37:34,599hundred and fifty four million. Itwas purchased for eighty seven million. It45200:37:34,639 --> 00:37:38,400has an outstanding loan of one hundredand fifty four million. So somebody,45300:37:38,679 --> 00:37:43,760not only is the person that boughtthat mall for what two hundred million or45400:37:43,800 --> 00:37:49,079whatever going to lose a ton ofmoney. So is the bank Tucston Mall45500:37:49,920 --> 00:37:53,559from what I'm hearing what I'm reading, is in even wor shape. So45600:37:53,679 --> 00:37:57,800that's what's going to break if youget something like that where you've I don't45700:37:57,840 --> 00:38:00,400know what bank is on the hook. I couldn't find that out. What45800:38:00,480 --> 00:38:02,000bank is on the hohod oh itwouldn't be one bank, would be many45900:38:02,000 --> 00:38:07,320banks, the probably risk. ButFoothills Mall, look what they did.46000:38:07,800 --> 00:38:12,880They kept some restaurants, they keptthe they kept the movie theaters. They've46100:38:12,920 --> 00:38:19,159kept the entertainment areas. Right nowthey're gonna build apartments there and they're actually46200:38:19,159 --> 00:38:22,119renovating the movie theater too, becausethat's the only success they had there.46300:38:22,119 --> 00:38:22,960I mean, they got rid ofall the outlet malls because you got the46400:38:22,960 --> 00:38:27,039outlet mall up by Twin Peaks,which is it does well, right Todd,46500:38:27,159 --> 00:38:30,079Yeah, go there, it doespretty well. And that's what Foothills46600:38:30,079 --> 00:38:31,360Mall used to be. Now theyhave the movie theater and there it's actually46700:38:31,360 --> 00:38:35,039really nice in there. They're gonnamake a lot up and living, you46800:38:35,079 --> 00:38:37,599know what I mean. You livethere, you can shop there, you46900:38:37,639 --> 00:38:40,400can entertain there, and and it'llbe nice places. Yeah. Really,47000:38:40,440 --> 00:38:43,719Phoenix has places like that. They'reactually pretty cool. You don't have to47100:38:43,760 --> 00:38:45,920go everywhere, you know. It'sa great store they have. Because with47200:38:46,000 --> 00:38:51,559the commercial property, not only willthe investors get hurt, but the banks47300:38:51,559 --> 00:38:54,559get hurt. And then when thosecommercial properties get refinanced, right, they47400:38:54,559 --> 00:39:00,320don't work like a normal mortgage.You have to refinance those long and so47500:39:00,360 --> 00:39:02,599when you refinance with the higher rate, that messes everything up. Yeah,47600:39:02,719 --> 00:39:06,679the higher rates have really made abig difference. And right, and then47700:39:06,719 --> 00:39:08,639the decision comes to I just giveit back to the bank or not.47800:39:08,880 --> 00:39:12,639Ye, the cash flow is justdiminished. And so now you've got something47900:39:12,639 --> 00:39:15,920that you know, one hundred andfifty four million on that's worth eighty seven48000:39:15,960 --> 00:39:20,159million. And that's been a prettyabout quote unquote black Swan event that could48100:39:20,159 --> 00:39:22,679happen in the next couple of yearsis that there's over two trillion dollars worth48200:39:22,679 --> 00:39:27,440of commercial real estate that's up forredo their loans. If you have this48300:39:27,559 --> 00:39:30,679example in Tucson where you're talking packMall one hundred million dollar loss on uson48400:39:30,760 --> 00:39:36,480Mall probably one hundred million dollar lost. It's talking billion dollars in San Francisco48500:39:36,519 --> 00:39:38,360and stuff. Yeah, that theycan't fill those offices. Yeah, I48600:39:38,360 --> 00:39:42,440mean you see just a ghost townin San Francisco. I see some of48700:39:42,440 --> 00:39:44,599those videos. I mean, sothey should use it for the homeless.48800:39:44,599 --> 00:39:46,360And one well, right, Imean they're just boarded up right now.48900:39:46,400 --> 00:39:49,719That's probably what they're going to beconverted into. I mean, there is49000:39:49,760 --> 00:39:53,920not one what Humberto Lopez did withthe holiday in down there. Yeah,49100:39:54,079 --> 00:39:58,480you tuned it into a homeless shelterwith all the services and stuff. It's49200:39:58,519 --> 00:40:02,360beautiful, you know, and supportsit and puts money into it and everything.49300:40:02,440 --> 00:40:07,360I mean, that's that's what peoplethat have some of those things should49400:40:07,360 --> 00:40:09,079take that model around the country anddo it. It's one of the most49500:40:09,280 --> 00:40:14,440one of the best ideas ever inTucson, I think as converting that holiday49600:40:14,480 --> 00:40:16,719and I'm PALAVERTI into a homeless uhyou know. Yeah. You know,49700:40:17,360 --> 00:40:23,320people give people that are very wealthythat have become successful so much problems and49800:40:23,360 --> 00:40:31,800hatred because they was successful, andthere's jealousy. Everybody I know in this49900:40:31,880 --> 00:40:37,440town that has a lot of moneygives back tremendously. Yes, they do.50000:40:37,639 --> 00:40:42,360Yes, they give back tremendously andand and they believe in giving back,50100:40:42,639 --> 00:40:45,639especially those that have earned it.Those that have just been given it50200:40:46,079 --> 00:40:50,800and didn't work for it to earnit. That's a that's a different person50300:40:50,840 --> 00:40:52,880sometimes. Yeah, And it's humannature. It's a lot easier to tear50400:40:52,960 --> 00:40:57,920someone else down than to build yourselfup. It's just human nature. The50500:40:57,960 --> 00:41:01,239lobster effect, Yeah, the effect, the lobster effects. Oh what's this?50600:41:01,320 --> 00:41:05,559Now? If you boil lobsters intoa pot, when one lobster tries50700:41:05,599 --> 00:41:07,760to get out, the other lobstersare going to also try to get out,50800:41:07,760 --> 00:41:09,320but by doing so pulls the lobstertrying to get out down, and50900:41:09,360 --> 00:41:12,960so no one ever can get outof the pot. That's the lobster effect.51000:41:13,000 --> 00:41:15,599Yeah, you have never heard thattill that one. I heard now51100:41:15,639 --> 00:41:22,920when you did here. Consumer pricein decks reported on Thursdays three point seven51200:41:22,960 --> 00:41:27,639percent, which was the same asAugust. We had twelve consecutive months where51300:41:27,639 --> 00:41:30,679it had gone lower. Started atnine point one percent in June of twenty51400:41:30,719 --> 00:41:35,639one, excuse me, June oftwenty two, got down to three percent51500:41:35,719 --> 00:41:39,000in June of twenty three, thenthree point two in July, three point51600:41:39,039 --> 00:41:43,519seven, in August, three pointseven, again in September, August and51700:41:43,599 --> 00:41:46,400September. You can probably I thinktime most of that to oil, to51800:41:46,519 --> 00:41:51,400gasoline prices. I saw the breakdownand it was by far oil. Yeah,51900:41:51,719 --> 00:41:54,840so we'll see if a gasoline pricescan stabilize in here. Oil looked52000:41:54,840 --> 00:41:58,719like it was going to be goingback into the seventies, but then on52100:41:58,760 --> 00:42:02,920Friday it jumped based upon that thesanctions on Russian oil, which we all52200:42:02,960 --> 00:42:08,559thought had dollars again. Yeah,crazy, Yeah, we all thought that52300:42:08,559 --> 00:42:13,920that those sanctions were were in placeand taking care of things, right,52400:42:14,000 --> 00:42:15,239Yeah, because they said the war'sstill going on. You know, you52500:42:15,280 --> 00:42:20,199wonder why the wars. We're notsqueezing them, they're making money. One's52600:42:20,239 --> 00:42:22,280fine. Let's also keep in mindthat most of Russias oil is being sold52700:42:22,280 --> 00:42:28,360to China right now. Okay,but China itself cannot support the Russian war.52800:42:29,119 --> 00:42:30,559No, but that's where Russia isgetting all their money. Like the52900:42:30,559 --> 00:42:35,519predominant all Russian's exports is going toChina, China and India. Yeah,53000:42:35,559 --> 00:42:37,199I mean so, I mean,whatever we can stop buying all their oil,53100:42:37,519 --> 00:42:42,800does it would it make a difference? I mean the two largest economies,53200:42:42,840 --> 00:42:45,920I mean, the two largest peoplein the world of India and China.53300:42:45,119 --> 00:42:50,599Gas is going to European natural gasfor sure is going you know,53400:42:50,800 --> 00:42:53,440natural gas, yes, because they'retrying to increase their stockpiles as they go53500:42:53,440 --> 00:42:57,880into winter, because they had avery warm winter last year, which you53600:42:58,000 --> 00:43:00,599don't normally have two years in arow, so they have to expect some53700:43:00,639 --> 00:43:06,280type of thing going on there.Big acquisition happened last week. It was53800:43:06,320 --> 00:43:09,840finally approved the Microsoft acquisition of ActivisionBlizzard, which is called of Duty,53900:43:10,000 --> 00:43:15,239It's Diablo and other games like that, for sixty nine billion dollars they bought54000:43:15,280 --> 00:43:17,599them for. It finally got passedby the UK regulators. Has been in54100:43:17,639 --> 00:43:25,599the works for twenty months. It'sit's Microsoft's largest acquisition ever and it's going54200:43:25,679 --> 00:43:29,719to help their whole gaming sector alot. That's a big company. Man.54300:43:29,760 --> 00:43:35,960That FTC has the worst track recordthis this administration's FTC. I mean54400:43:36,000 --> 00:43:39,960all the trials they brought on,have they won one trial? I mean54500:43:40,000 --> 00:43:43,000they just came on and now whatwas it? The Google was the last54600:43:43,000 --> 00:43:46,480one? Or Amazon was the lastone that they Google? Google's one of54700:43:46,519 --> 00:43:51,000the big news. Now, yeah, Amazon would be in the news too,54800:43:51,480 --> 00:43:52,840I mean the Amazon one. Ibelieve there is no merit. Of54900:43:52,880 --> 00:43:57,159course, when you get big andstrong, you could be called a monopoly,55000:43:57,719 --> 00:44:00,400you know what I'm saying. Butwhat they what they forget is on55100:44:00,440 --> 00:44:06,280the other side, they're giving moneyto start up companies to help grow and55200:44:06,320 --> 00:44:10,960then buy them out too well,which gives entrepreneurs the ability to make a55300:44:10,960 --> 00:44:14,760lot of money. Off these bigcompanies, But no, they want to55400:44:14,760 --> 00:44:17,400break them up. They want todestroy them. Isn't it like sort of55500:44:17,400 --> 00:44:23,320a theme here, Let's destroy everythingthat's good. People think that big is55600:44:23,519 --> 00:44:27,760bad, rich is bad. Youknow what I mean? It's like,55700:44:28,519 --> 00:44:32,719who if all these corporations stop makingmoney and people start being wealthy? All55800:44:32,800 --> 00:44:37,400right, what's going to happen?Where are the millions of people going to55900:44:37,480 --> 00:44:42,400work? Right? Who's gonna hireanyone? Right? Who's going to take56000:44:42,400 --> 00:44:44,920a risk? Or you want toget the ire of the American people do56100:44:45,079 --> 00:44:50,079anything to mess up the Amazon machine. The leader of the FTC's all addicted.56200:44:51,000 --> 00:44:55,239Her thesis in college was why Amazonneeds to get broken up? So,56300:44:55,440 --> 00:44:59,239I mean it's an ideology she's hadbefore she was being part of the56400:44:59,320 --> 00:45:05,679FTC. These these little tidbits shouldbe coming up lately. You're eating something,56500:45:05,960 --> 00:45:09,159well what what what periodical are youeating? I read a lot Bloomberg.56600:45:09,880 --> 00:45:13,639You're coming up with stuff that's like, you know, we won't even56700:45:13,639 --> 00:45:19,199talk about some of the things.I like calendar next week, We've got,56800:45:19,360 --> 00:45:23,559of course, continue of corporate earnings. The season kicking in had last56900:45:23,559 --> 00:45:27,280week of the end of last weeka big kickoff with the major banks.57000:45:27,639 --> 00:45:30,960They kind of lead the charge andthey were good. They were the major57100:45:30,000 --> 00:45:35,280banks. It's interesting because the xl E, which is the major bank57200:45:35,599 --> 00:45:42,280index x x xl AF deans I'msorry XLF xl e's oil XLF. You're57300:45:42,360 --> 00:45:45,840right, was up only two percentfor the year, and uh it jumped57400:45:46,159 --> 00:45:52,239two percent at the open on Fridayand then closed unchanged because there was some57500:45:52,280 --> 00:45:53,920pressure on the market, going well, yeah, it's interesting. See,57600:45:53,960 --> 00:45:58,880here's the thing. Big banks aregoing to be okay because they can diversify57700:45:58,880 --> 00:46:01,199out their risk. They can hedge, they can trade, they can do57800:46:01,280 --> 00:46:07,039mergins and acquisitions. It's the it'sthe regional and small banks they're gonna have57900:46:07,079 --> 00:46:10,119the problems. And then guess whocomes in and buys them up, you58000:46:10,159 --> 00:46:13,719know, the big banks. AndI don't think the small banks have access58100:46:13,719 --> 00:46:15,840to the reverse repo facility the sameway the big banks too, because the58200:46:15,880 --> 00:46:21,960big banks that that literally helps themnot worry about capital. Yeah, the58300:46:21,960 --> 00:46:24,360liquidity risk of having those bonds beingso down. No, you can still58400:46:24,360 --> 00:46:30,840borrow, they can. You canstill borrow from the discount window and stuff.58500:46:30,000 --> 00:46:32,920The problem is is at the endof the day, you don't have58600:46:34,039 --> 00:46:37,360enough loans coming in like they havecorporate loans that are gonna come do like58700:46:37,400 --> 00:46:42,559you say, commercial loans and goup right. Usually with the smaller banks,58800:46:42,559 --> 00:46:45,760you're dealing with people that are individuals. And when you have a five58900:46:45,800 --> 00:46:50,599percent loan on a commercial building andnow you're telling them it's eight or nine59000:46:50,639 --> 00:46:55,000percent, how they gonna pay itright? You know, because they don't59100:46:55,039 --> 00:47:00,679have like those twenty and thirty yearmortgages. They have twenty thirty year amateurizations59200:47:00,760 --> 00:47:05,679with five years, seven year,ten year, you know type stops.59300:47:05,920 --> 00:47:09,320And then you get a park mallto some all type a situation, yeah,59400:47:09,719 --> 00:47:14,199or you just go under you know. All right, there's a lot59500:47:14,239 --> 00:47:15,639of things out there. When wecome back, we're going to talk about59600:47:16,000 --> 00:47:21,440why you need that plan and howthat will help you through this tumultuous times59700:47:21,840 --> 00:47:24,159and set you up, because youknow what, it's one thing being upset59800:47:24,159 --> 00:47:29,079about what's happening, another thing beingnervous about it. But that third thing59900:47:29,199 --> 00:47:32,840is is you personally, because noone cares about you except yourself. Trust60000:47:32,880 --> 00:47:36,360me, all right. If youdon't care about yourself and you go onto60100:47:36,400 --> 00:47:39,480this just people clapping, we willtry to help you through that by planning60200:47:39,800 --> 00:47:44,320and doing the things that are rightand mitigating your risks through this problems.60300:47:44,320 --> 00:47:52,960We'll be right back. Welcome backto the Money Matter Show. My name60400:47:52,000 --> 00:47:57,920is Ty Glick. I'm here withIf Sherwood and Sebastian Borissini. Dean and60500:47:58,000 --> 00:48:00,960Dave had to take off a littleearly, and Dylan Deanon. Dylan,60600:48:00,960 --> 00:48:05,519I'm day all those ds. Whatam I doing? I'm Dave? All60700:48:05,639 --> 00:48:08,400right? You sure? All right? All right, let's wrap up the60800:48:08,639 --> 00:48:13,039market on the week. The Dowwas up point eight percent, the S60900:48:13,039 --> 00:48:16,480and P was up point four theNasdaq was down point two the Russell led61000:48:16,480 --> 00:48:20,800the way down one point six percentdown on the week, and the equal61100:48:20,840 --> 00:48:23,880weight it was up point two percent. Wow, those small caps had a61200:48:23,920 --> 00:48:27,760bad week. Huh, small capshad a bad week. And how often61300:48:27,800 --> 00:48:30,840have you seen the equal way toS and P five hundred outperform the small61400:48:30,840 --> 00:48:36,119caps or anything else? Actually itwas a positive Tariot underperformed the S and61500:48:36,159 --> 00:48:40,199P five hundred. Oh it did, of course, but actually in positive61600:48:40,320 --> 00:48:44,559territory, working its way back toflat on the year. And we've talked61700:48:44,559 --> 00:48:49,119about this a lot that if you'relooking at your portfolio, remember the equal61800:48:49,119 --> 00:48:52,119way to S and P five hundred, which is the most representative index,61900:48:52,960 --> 00:49:00,760is down for the year. Bondprices are down for the year. So62000:49:00,840 --> 00:49:05,880no matter what type of application youhave, if you are down for the62100:49:06,000 --> 00:49:09,039year, that's pretty normal. Yeah, and it's hard for a lot of62200:49:09,039 --> 00:49:14,280people to feel that way. Youknow. You look at the markets going62300:49:14,360 --> 00:49:15,719up. You see in the video, you see a Google, you see62400:49:15,719 --> 00:49:20,559an Apple, and you start toscratch your head why the equal weighted is62500:49:21,079 --> 00:49:24,280flat. But when you really startto look into the numbers, you realize62600:49:24,320 --> 00:49:29,559the overall market has not been doingthat well. That's been pretty much the62700:49:29,599 --> 00:49:30,960same as it was, like yousaid, a couple of years ago.62800:49:31,079 --> 00:49:37,320So now it's all about going forward. These earnings reports that are coming out62900:49:37,639 --> 00:49:39,079that we just got the banks,and they're really going to start coming next63000:49:39,079 --> 00:49:44,199week and throughout the month. Howthose valuations come into us is going to63100:49:44,280 --> 00:49:47,119be a really big deal because ifthey're not close to our previous guidance that63200:49:47,159 --> 00:49:50,920we got from these companies, thenwe're going to see a sell off.63300:49:51,199 --> 00:49:53,119I mean, we talked about thisin previous shows. If you take the63400:49:53,159 --> 00:49:57,519top seven stocks out of the Sand P five hundred, it's pretty much63500:49:57,639 --> 00:50:00,320historically valued about where it should be. But you put the seven in there,63600:50:00,519 --> 00:50:06,360we're way above historic norms. Soseeing maybe some valuation changes on those63700:50:06,360 --> 00:50:10,400big seven could bring us down.They could because because they're so influential and63800:50:10,440 --> 00:50:15,960they have such a heavy waiting inthe S and P five hundred. And63900:50:15,320 --> 00:50:21,480you're absolutely right, Todd February oftwenty one. February of twenty twenty one,64000:50:22,320 --> 00:50:25,360the equal weight to S and Pfive hundred index is the same as64100:50:25,400 --> 00:50:30,199it was on Friday February of twentytwenty one, two and a half years64200:50:30,199 --> 00:50:34,000of investing, two and a halfyears. The market's done and the market's64300:50:34,039 --> 00:50:37,920not going to stay flat forever.You get in a long period of time64400:50:37,960 --> 00:50:40,199here that you can get your moneyput to work. I was I was64500:50:40,239 --> 00:50:45,360in this business when the Dow JonesIndustrial Average hit one thousand for the first64600:50:45,360 --> 00:50:51,639time. We actually had Dow onethousand caps. It's now thirty three thousand,64700:50:51,920 --> 00:50:57,760six hundred and seventy old. Areyou I'm old enough without what?64800:50:58,280 --> 00:51:04,880Old enough to order milk? Andhow's that? But the point is I64900:51:04,920 --> 00:51:07,119haven't been doing this for one hundredyears, and that it was one thousand,65000:51:07,239 --> 00:51:13,960Now it's thirty four thousand. That'sthe trend. The first house I65100:51:14,000 --> 00:51:17,679bought was eighteen thousand. Now thathouse is probably three hundred and fifty four65200:51:17,760 --> 00:51:23,119hundred thousand. That happens, that'sjust part of the of the normal cycle65300:51:23,159 --> 00:51:28,000of life. The market's always goingto go higher as long as we have65400:51:28,119 --> 00:51:31,880more people. The market's based uponthe GDP at gross domestic product, and65500:51:31,880 --> 00:51:37,039as long as we have more people, we're going to have a higher GDP.65600:51:37,679 --> 00:51:42,159And I don't see any period inthe inner future where we're going to65700:51:42,199 --> 00:51:46,360have fewer people. Well, weare having a lower birth rate, hopefully,65800:51:46,559 --> 00:51:51,840hopefully we get that birth free undercontrol, because we have seen over65900:51:51,880 --> 00:51:55,360the last twenty thirty years, asurbanization has really been increased, the birthley66000:51:55,400 --> 00:52:01,280has pumpleted, and there's been othercauses of that factors. But there is66100:52:01,320 --> 00:52:05,719an interesting thing to look at onon our birth rates as well as some66200:52:05,760 --> 00:52:07,960of the other big G sevens,because the birth rates that are really increasing66300:52:07,960 --> 00:52:12,480are those third world nations, andthat's why we always talk about them.66400:52:12,800 --> 00:52:15,039They're going to use a lot moreenergy than we can use. Additionally,66500:52:15,440 --> 00:52:20,840because they're not even close to wherewe are technologically right, if you think66600:52:20,880 --> 00:52:23,840about what takes in our home withall these energies. We have a stove.66700:52:24,119 --> 00:52:27,920Third world countries don't have stoves yet, right, They don't have a66800:52:28,400 --> 00:52:32,119point, they don't have a refrigeratoryet, they don't have central AC in66900:52:32,159 --> 00:52:37,079their house. And there's billions ofpeople that aren't there yet. So it67000:52:37,079 --> 00:52:39,559happens when those people get all that, right, that's a lot more energy67100:52:39,599 --> 00:52:44,159and that that someone's got to producethat, right, Someone's got to produce67200:52:44,159 --> 00:52:47,320all those refrigerators. Something that isa it's not just looking at our country,67300:52:47,320 --> 00:52:52,840it's looking at the world long humanity, right, That's that's always my67400:52:52,360 --> 00:52:58,119point of view. Be on humanityside and everything should work out, right,67500:52:58,280 --> 00:53:00,920that's it's evolve humanity as itself.I agree. I agree. You67600:53:00,960 --> 00:53:07,559guys have been so busy this thispast week meeting people with so I'm thinking67700:53:07,559 --> 00:53:13,760to myself, we're not too faroff of Halloween, and after that comes67800:53:13,880 --> 00:53:17,039Thanksgiving and then Christmas and you haverelatives coming and you're going to visit people.67900:53:17,679 --> 00:53:20,840You know, this is a periodof time. This is a kind68000:53:20,880 --> 00:53:24,639of a window right here where youcan give us a call and schedule that68100:53:24,760 --> 00:53:30,880financial plan to meet with you guysbefore it gets busy. Yeah, I68200:53:30,880 --> 00:53:34,119mean everyone knows when the holidays comearound, the last thing you really want68300:53:34,159 --> 00:53:37,920to think about is the money becauseyou're spending a lot of time, so68400:53:38,199 --> 00:53:40,679you don't want to think about it. So it is a good time to68500:53:40,719 --> 00:53:45,000start planning. Now, get thatball rolling. And again this is these68600:53:45,039 --> 00:53:49,960are a couple month processes sometimes,especially if some people are slow movers,68700:53:50,000 --> 00:53:52,320right, Some people that I wantedthe whole process done in two weeks.68800:53:52,559 --> 00:53:54,239Some people, you know, we'llhave one meeting one month and it'll be68900:53:54,320 --> 00:53:58,599another meeting two months from now,and then that's fine, but at least69000:53:58,599 --> 00:54:01,559getting that ball going, getting thatconversation started is a really good place to69100:54:01,920 --> 00:54:05,039right now. It's a good placeto start and seeing where you're at.69200:54:05,079 --> 00:54:07,559And again, seasonally, this isa really good time between now and maybe69300:54:07,559 --> 00:54:13,280the middle of November when there isn'ta lot going on in terms of holidays,69400:54:13,280 --> 00:54:15,000and then it kind of gets crazyafter that. And to talk about69500:54:15,039 --> 00:54:17,719you know, really we've had alot of meetings, and a lot of69600:54:17,760 --> 00:54:22,480it is because the federal employees thatyou know a lot listen to the show69700:54:22,519 --> 00:54:25,679and hear us on our TV shows, which our TV shows are back on69800:54:25,800 --> 00:54:30,119Sundays at ten thirty on KVO Way. We've had a lot of federal employees69900:54:30,159 --> 00:54:35,119come to us because we've got thatnew tool where we can actually estimate pensions.70000:54:35,159 --> 00:54:39,320We can look at pension maximization withusing a survivor benefit compared to buying70100:54:39,639 --> 00:54:44,599the out of the market life insurance. You can look at FEGLEE, we70200:54:44,679 --> 00:54:49,039look at f eh B, allthe different components of your retirement at picture70300:54:49,280 --> 00:54:52,559we can put into a financial planand show you how it's projected out.70400:54:52,719 --> 00:54:54,599If there's income gaps, we canlook into products and how to bridge that70500:54:54,719 --> 00:54:59,559income gap. And so we've helpeda lot of those people because with so70600:54:59,599 --> 00:55:01,719many things moving around in our life, that peace of mind is something they're70700:55:01,719 --> 00:55:06,239looking for. So if you area federal employee, December thirteenth, we're70800:55:06,280 --> 00:55:08,840going to have a seminar, feelfree to give us a call five to70900:55:09,039 --> 00:55:12,480zero five for four to four ninezero nine. It's a free event.71000:55:12,920 --> 00:55:15,159Lunch will be provided and it's anall day event. We're going to go71100:55:15,280 --> 00:55:21,400through everything to know about what afederal retirement benefit looks like as well as71200:55:21,559 --> 00:55:25,280what your specific benefits look like.We have a workbook that you'll go through.71300:55:25,400 --> 00:55:29,840You'll put in all your figures andthen afterwards you'll get a free financial71400:55:29,880 --> 00:55:31,360plan. You'll come in and sitdown with us, we'll build out the71500:55:31,400 --> 00:55:37,000financial plan. It's just it's oneof those unique free services you're not going71600:55:37,079 --> 00:55:39,159to be really able to find anywhereelse. Well, you're flying in a71700:55:39,320 --> 00:55:45,079guy who's a specialist in federal retirement. Yeah, I mean someone who knows71800:55:45,159 --> 00:55:47,320probably ten x the amount I couldever know. You know, he's been71900:55:47,360 --> 00:55:51,239doing this for twenty years. Hewas a federal employee himself at one time,72000:55:51,320 --> 00:55:57,079so he knows a lot about this, and like even the little nuances,72100:55:57,559 --> 00:56:00,719you know, the things that onlyone in one thousand person whatever run72200:56:00,760 --> 00:56:02,960across, he knows. So we'rereally glad to have him a part of72300:56:04,039 --> 00:56:06,800the team on that first seminar.And he's actually going to be on the72400:56:06,840 --> 00:56:10,679show I believe next next week.Yeah, next Friday, he'll be on72500:56:10,719 --> 00:56:15,000the show to talk a little bitabout what to expect and how it's gonna72600:56:15,000 --> 00:56:16,440look. So really excited about that. Again. You can go to our72700:56:16,880 --> 00:56:22,119Facebook page. You'll see our postand you can sign up on our event72800:56:22,199 --> 00:56:25,679bright page, or you can justcall us directly and we'll sign you up72900:56:25,760 --> 00:56:30,360and there's limited seeding. And whata unique event to be able to as73000:56:30,440 --> 00:56:34,880a federal employee about to retire,yeah, or even a couple of years73100:56:34,880 --> 00:56:37,039from retirement. Here you've got anexpert coming in and they say, I73200:56:37,039 --> 00:56:40,440don't want to take a day off, mispay, but you actually can ask73300:56:40,519 --> 00:56:45,519your HR and potentially they will giveyou a paid days off because it's part73400:56:45,559 --> 00:56:50,119of their mandate that they have toeducate their federal employees every single year so73500:56:50,440 --> 00:56:54,000about their benefits, and so theycan actually pay you for going to an73600:56:54,119 --> 00:57:00,679education seminar for that day. Soit's called an SF would ask your HR73700:57:00,960 --> 00:57:05,719director for or your agency director forand if they offer it, then you73800:57:05,760 --> 00:57:07,639can fill that out and you geta payday off while learning about how to73900:57:08,280 --> 00:57:15,159secure your financial retirement. Fantastic opportunity, limited seating. Don't be one that's74000:57:15,880 --> 00:57:19,239come shows up a month from nowand said yeah, I'd like to attend74100:57:19,320 --> 00:57:22,199that seminar and I'm sorry. Right, you know, we got the CPI74200:57:22,599 --> 00:57:29,079and over the week and I foundan interesting chart showing us real average hourly74300:57:29,159 --> 00:57:34,920earnings. There was twenty five consecutivemonths of real negative wage growth, which74400:57:35,000 --> 00:57:39,639means that inflation outpaced the pace ofwage growth. Do you think the I74500:57:39,800 --> 00:57:43,800does. Do you think that hasanything the last strikes? The last five74600:57:43,920 --> 00:57:47,519months, it's actually been positive,So we've kind of actually flipped the gap74700:57:47,559 --> 00:57:51,199where because inflation has come down,as you said earlier in the show,74800:57:51,719 --> 00:57:53,480but we just kind of just stayedup there. It hasn't really come down74900:57:53,599 --> 00:57:58,480that much. So these last fivemonths there's actually a positive real out average75000:57:58,519 --> 00:58:00,920hourly earnings growth. Has anything todo with the strikes that are going on75100:58:01,079 --> 00:58:05,920all over the country, right,you know, you get the UAW strike,75200:58:05,960 --> 00:58:09,000which probably gets the most pressed.Right, Kaiser Permanente had seventy five75300:58:09,039 --> 00:58:14,760thousand employees walk off the job.That's been settled now. Hollywood writers and75400:58:14,840 --> 00:58:19,199actors, the writers settled there asthe actress have not. I didn't even75500:58:19,239 --> 00:58:24,280know that really. Yeah. Interestedin California hotel workers are doing rolling sick75600:58:24,360 --> 00:58:30,719out blackoutse Yeah. Las Vegas workersare on strike now. Walgreens is trying75700:58:30,760 --> 00:58:36,639to get the CBS employees in thepharmacy Walgreen pharmacy to walk out to shut75800:58:36,719 --> 00:58:39,559it down. So that's like andthen Biden's there at the picket line saying,75900:58:39,639 --> 00:58:44,639yeah, you go go. That'svery helpful. You know something else76000:58:44,679 --> 00:58:50,239I saw as a recent study bythe Chicago Fed said that about one third76100:58:50,559 --> 00:58:54,159of the effects at the rate hacksthat we've had they have not been felt76200:58:54,239 --> 00:58:59,519on GDP yet, and about sixtypercent of the effects on total hour hours76300:58:59,599 --> 00:59:02,199worked from past ray hikes have notbeen felt. So I think that's the76400:59:02,239 --> 00:59:07,159big number to look at because theFed is constantly looking at the labor report76500:59:07,199 --> 00:59:09,199and saying, how is these numbersso strong? Right? I mean,76600:59:09,239 --> 00:59:13,239we have a really strong labor marketright now. But I think this tells76700:59:13,280 --> 00:59:15,599you The Chicago Fed did a studyand they say sixty percent of the effects76800:59:15,639 --> 00:59:20,079that these rate hikes has not reallygone gott into the labor market. I76900:59:20,119 --> 00:59:22,840think it was two years ago.On this show, Dean said wage inflation77000:59:23,239 --> 00:59:29,239is difficult to control and it's notsomething you're ever going to reverse. And77100:59:29,320 --> 00:59:31,639that's what's happening. Semashian. Dowe have any calls, any questions from77200:59:31,719 --> 00:59:35,280listeners? You know what, weactually did have two come in this week.77300:59:35,760 --> 00:59:37,239If you have such a great radiovoice, you know, thank you,77400:59:37,519 --> 00:59:40,840Yeah, I had that voice.If you do want a question answered,77500:59:42,360 --> 00:59:46,079you could email us at contact atGreenberg financial dot com or give us77600:59:46,079 --> 00:59:50,480a call and we will answer its. First one comes in from Sofia.77700:59:51,000 --> 00:59:53,400She asked, I'm interested in investingin bonds, but I'm not sure how77800:59:53,400 --> 00:59:58,559to choose between government, corporate ormunicipal bonds. Can you provide some differences77900:59:58,639 --> 01:00:04,119and some guidance on this? Surethey day bond, that day bond,78001:00:04,239 --> 01:00:07,320day bond. Three different kind ofbonds that she mentioned the right. Government,78101:00:07,400 --> 01:00:14,679corporate and municipal municipals are tax freeon the federal level, and if78201:00:14,719 --> 01:00:17,320it's your state, if it's abond from your state, is totally tax78301:00:17,400 --> 01:00:22,159free. Generally, the rates onthose will be a little bit lower than78401:00:22,320 --> 01:00:28,079rates on other bonds because they aretax free. You would look at those78501:00:28,159 --> 01:00:31,039bonds if you were in a relativelyhigh tax bracket. If you don't have78601:00:31,199 --> 01:00:35,559a high tax bracket, or you'rein a typical, you know, fifteen78701:00:35,559 --> 01:00:38,440to twenty percent bracket, it makesno sense because you can get rates that78801:00:38,559 --> 01:00:44,440are more than fifteen or twenty percenthigher than a municipal on a corporate or78901:00:44,480 --> 01:00:50,639a government government obviously guaranteed by theUS government. The advantage to those bonds79001:00:51,119 --> 01:00:54,679is their tax free on the statelevel. All states so that's good.79101:00:55,079 --> 01:01:00,360Corporates have no tax advantage, andas a result, they typically carry a79201:01:00,360 --> 01:01:06,119little higher yield than treasuries, muchhigher yield than municipals. It's very important79301:01:06,159 --> 01:01:12,960with corporates to look at quality.There's tremendous difference in quality. What we're79401:01:13,000 --> 01:01:16,119finding when we do our bond laddersis that up to two years you can79501:01:16,199 --> 01:01:21,960get a five percent rate on treasuries, and then you start to get beyond79601:01:22,039 --> 01:01:24,960two years. To continue to getfive percent, you need to look at79701:01:25,079 --> 01:01:30,280corporates. And I put together acorporate ladder for a guy the other day,79801:01:30,639 --> 01:01:36,119elderly person going in for surgery,concerned that his wife won't be able79901:01:36,159 --> 01:01:40,159to handle the stock portfolio when he'sgone. He came in and he sold80001:01:40,280 --> 01:01:45,519all of his stocks and we putit into a five year bond portfolio with80101:01:45,719 --> 01:01:51,199ten percent of the money maturing everysix months, and got him an average80201:01:51,280 --> 01:01:54,480yield of about five point two onthat over the next five years, and80301:01:54,639 --> 01:02:00,440every six months, ten percent ofthe woman's money is coming due, and80401:02:00,719 --> 01:02:05,199uh, it's going to provide herwith a five percent rate of income,80501:02:05,800 --> 01:02:07,199which is which is going to giveher a lot of peace of mind.80601:02:08,360 --> 01:02:14,199So again after two years we startedto go into the corporates. You don't80701:02:14,239 --> 01:02:19,239have to get crazy with your quality. Uh this particular portfolio I'm talking about,80801:02:19,280 --> 01:02:22,679I'm trying to think of some ofthe names, but a Caterpillar,80901:02:22,800 --> 01:02:27,400Walmart, Home Depot, Apple aresome of the bonds that that we've bought81001:02:27,599 --> 01:02:32,199for her. Uh for Toyota,I'm sorry, Toyota has Toyota. Yeah,81101:02:32,880 --> 01:02:37,199so you don't. You don't haveto give up quality to get a81201:02:37,280 --> 01:02:39,320good rate of return, but youdo need to have somebody that knows what81301:02:39,360 --> 01:02:45,039they're doing, because it's a itis what it is. It's good.81401:02:45,440 --> 01:02:49,280Bond letters are really nice if you'reif you're someone who has enough money to81501:02:49,360 --> 01:02:52,920live comfortably for the rest of yourlife, and you're tired of messing with81601:02:52,000 --> 01:02:55,880the stock market, like my buddywho's going in for surgery, and you81701:02:57,079 --> 01:03:00,400just want a predictable rate of return. I can get five percent. I'm81801:03:00,440 --> 01:03:04,760good with that. Just give mefive percent with little to no risk for81901:03:04,800 --> 01:03:07,400the rest of my life. I'mgood. So we build those bond ladders82001:03:07,440 --> 01:03:10,000for folks, and we're happy todo that. If you're worried about the82101:03:10,039 --> 01:03:13,719default risk on bonds, you couldalways like you said, go with the82201:03:13,760 --> 01:03:16,679governments, because if the governments,the US government defaults, we probably have82301:03:16,719 --> 01:03:20,039a lot of bigger problems on yourhands. You do. And they're are82401:03:20,159 --> 01:03:23,440rating services that help guide us alongthose lines when we start to get out82501:03:23,599 --> 01:03:27,840away from governments. Obviously, likeyou said, Sebastian governments, you have82601:03:27,920 --> 01:03:30,119no concern. There's it's a fullfaith and credit of the US government,82701:03:30,199 --> 01:03:35,039and it's a step above CDs intern of And still I mean here at82801:03:35,039 --> 01:03:37,400all the time in meetings where clientswill scoff at the idea. They're I82901:03:37,440 --> 01:03:40,679don't know how much I trust thegovernment, you know, will they really83001:03:40,719 --> 01:03:44,800be able to pay the bills?Again, people don't realize this. All83101:03:44,840 --> 01:03:49,440the money that you have to yourname is denominated in what currency? Okay?83201:03:49,559 --> 01:03:52,119So, and who backs that currencyin the US government? Okay,83301:03:52,119 --> 01:03:54,280So the US government goes away,your currency is worthless. Your entire perfoil83401:03:54,360 --> 01:03:58,719is worth everything, and you're knownto your name is worthless. So again,83501:03:59,079 --> 01:04:01,679yeah, it doesn't make sense,like you have to think about it83601:04:01,840 --> 01:04:06,639all the way through. And againwith mygas right now, rates are really83701:04:06,719 --> 01:04:11,960high. You can lock in evenhigher for five years, and I've with83801:04:12,119 --> 01:04:15,320a theme We've liked the theme becausethey have really good customer service and they're83901:04:15,440 --> 01:04:18,599riding around five point five percent,but I've seen as high as five point84001:04:18,679 --> 01:04:23,679seventy five percent for good insurance companieson the five year scale. So if84101:04:23,719 --> 01:04:26,880you are looking to lock in someof those higher rates and you just want84201:04:26,960 --> 01:04:30,719something guaranteed and predictable, we havethose options for you. You use the84301:04:30,960 --> 01:04:34,079term MYGA. What's the MIGA?A MYGA is a multi year guaranteed annuity84401:04:34,199 --> 01:04:39,119essentially a contract within annuity company aCD with an insurance company. Yeah,84501:04:39,239 --> 01:04:45,039essentially a five year term, notax, no no current tax on that84601:04:45,519 --> 01:04:48,559five point four percent or five pointfive Now, uh, it's five point84701:04:48,599 --> 01:04:51,880five out of theen five point seventyfive at Lincoln, and there's a lot84801:04:51,960 --> 01:04:57,559in between. You can get fiveand a half compounded without any current tax.84901:04:57,639 --> 01:05:00,000So that's pretty appealing to an awfullot of people. Yeah, and85001:05:00,119 --> 01:05:02,920you can and if it's in anIRA, you can take out your arm85101:05:03,000 --> 01:05:06,320D penalty free. And so itdoes give you a lot of options.85201:05:06,360 --> 01:05:11,000And for the people who just wantthat steady eddy and it's one of those85301:05:11,000 --> 01:05:13,559things where like you don't have toworry about if rates go higher. Sure85401:05:13,760 --> 01:05:16,599you your Maiga is not going tolose principle, right right. Thank you85501:05:16,679 --> 01:05:18,880for your question, Sophia, Ihope we answered it. This next one85601:05:18,960 --> 01:05:23,159comes in from Steve and he asked, how will this war affect markets?85701:05:23,920 --> 01:05:26,039I think I could take a littlebit on this one. Why don't you85801:05:26,119 --> 01:05:29,239take that, Sebastian. Yeah,I'm looking at a table here. It85901:05:29,320 --> 01:05:32,760shows S and P five hundred performanceafter eleven major geopolitical events. Uh.86001:05:32,960 --> 01:05:36,599These events range from Pearl Harbored attack, the Cuban missile crisis nine to eleven,86101:05:36,719 --> 01:05:41,559and even the more recent Russian invasionof Ukraine. On average, the86201:05:41,599 --> 01:05:45,039initial reaction has been negative, butover the long term, the S and86301:05:45,119 --> 01:05:48,239P five hundred is averaged seven percentincrease in the year following these events.86401:05:48,920 --> 01:05:53,400Interesting, I'm gonna say on themarket does feel like it wants to go86501:05:53,559 --> 01:05:58,480higher, and you're saying that historicallyit probably will. Well, it's because86601:05:58,599 --> 01:06:00,960war is a racket. At theend of the day, it costs money86701:06:01,039 --> 01:06:03,960to go on a war. Itcost goods and services. Things are getting86801:06:04,000 --> 01:06:08,400destroyed which needs to be reproduced,right, I mean, think about what86901:06:08,519 --> 01:06:12,039happened to Europe and World War two. And then what they had to redo87001:06:12,159 --> 01:06:15,599in Europe after World War Two,that was a lot of economic activity.87101:06:16,159 --> 01:06:21,960It was no one really wanted thateconomic activity to have to be brought about87201:06:23,079 --> 01:06:27,079because of all the human suffering thatcame about. But from an economic sense,87301:06:27,320 --> 01:06:30,599it's good because rebuilding brings more money. As unfortunate as it sounds,87401:06:30,679 --> 01:06:34,400one of my I think it wasa macroeconomics professor through University of Arizona.87501:06:34,519 --> 01:06:40,280He had always stated, you know, or is very profitable and it's sad.87601:06:40,360 --> 01:06:44,320I mean Eisenhower when he left office, he had a very eerie speech87701:06:44,519 --> 01:06:48,519warning us about the military industrial complex, knowing that it makes them a lot87801:06:48,559 --> 01:06:51,639of money. And you know whatwe saw with the Cuban missile crisis.87901:06:51,679 --> 01:06:56,280There's been a lot of what youknow, people telling Kennedy what to hear88001:06:56,320 --> 01:07:00,280and it wasn't really real. Andthere's been a lot of stuff that we88101:07:00,360 --> 01:07:02,880need to, you know, alwayslook at. And that's why humanity first,88201:07:02,960 --> 01:07:08,480I mean, no one wants war. You think in terms of bringing88301:07:08,559 --> 01:07:14,159a local again, Raytheon makes thePatriot missiles and they shout off, how88401:07:14,199 --> 01:07:18,840many Patriot missiles over the last week. If you're being said, three thousand88501:07:19,000 --> 01:07:23,480missiles the first day, so thatmeans three thousand Patriots were used, right,88601:07:23,719 --> 01:07:26,880A couple of thousand the next day. Eventually all the missiles that they're88701:07:26,920 --> 01:07:30,159going to run out of missiles.I would have guessed it's gotten pretty quet88801:07:30,199 --> 01:07:34,480over there in Gaza. But Raytheonis going to have to replace all those88901:07:34,599 --> 01:07:38,800to have that iron dome continue tobe in placed in Israel. All those89001:07:38,960 --> 01:07:43,159Patriot missiles need to be replaced.When they send equipment to Ukraine to fight89101:07:43,280 --> 01:07:46,239Russia that you know where it wasset from, which is European armies,89201:07:46,320 --> 01:07:50,280American armies, that needs to bereplaced, right, So everything it needs89301:07:50,320 --> 01:07:54,400to be replaced on and that's whyit's such a racket. Yeah, it89401:07:54,519 --> 01:08:00,719really is the one. Disney's astock that we've been on for quite a89501:08:00,760 --> 01:08:05,079while here. Disney was higher onMonday. Activist Nelson Pels has launched a89601:08:05,159 --> 01:08:10,199campaign for three board seats and ana tamp down locked value. Generally,89701:08:10,400 --> 01:08:14,039that's a really good thing when youget an activist in there trying to get89801:08:14,079 --> 01:08:17,680board seats, trying to they're therefor one purpose only, I agree.89901:08:18,199 --> 01:08:24,359But ever since Constellation Brands got theiractivations and they had the activist take that90001:08:24,520 --> 01:08:27,520seat. I mean the stock's justgone straight down. Yeah, I mean90101:08:27,600 --> 01:08:30,439it was doing great. It wasn'tlike, you know, two seven area90201:08:30,479 --> 01:08:34,600and then it's like two twenties now, I think, And you know,90301:08:35,159 --> 01:08:39,840from the earning standpoint, they cameout they they did fine on earnings.90401:08:40,359 --> 01:08:45,000It's always funny when you see theex canopy growth, canopy growth, but90501:08:45,159 --> 01:08:46,960even still, I mean you thinklike there's got to be something there,90601:08:47,039 --> 01:08:51,359and to see it drop that much, that point that still points out to90701:08:51,439 --> 01:08:57,439me. So keep an eye onConstellation too. As a Tesla opened lower90801:08:57,520 --> 01:09:00,880on Monday after a report the companysaw a ten percent year over your sales90901:09:01,000 --> 01:09:09,359decline in China, ten percent yearover year sales decline in China as cheaper91001:09:09,439 --> 01:09:14,439domestic cars are taking more market sharethan Tesla. They have they have a91101:09:15,720 --> 01:09:21,079apologize to that. Domestically, theycontinue to cut prices. Tesla does domestically,91201:09:21,159 --> 01:09:25,479They're doing a lot of price cuttingand a lot of special lease programs.91301:09:25,720 --> 01:09:30,239Competitions heated up. I mean theyhad nobody, nobody competing with them91401:09:30,920 --> 01:09:32,520a couple of years ago. There'sa lot of competition now. Yeah,91501:09:32,760 --> 01:09:36,439I mean that one company that CharlieMunger thinks is his favorite TV vehicle play.91601:09:36,479 --> 01:09:39,960I can't think of the name now, but in China, Yeah,91701:09:40,079 --> 01:09:43,119that's the one that is taking allthe business from Yeah, they have and91801:09:43,199 --> 01:09:46,760they're able to. They're selling carsthat have similar range, similar design to91901:09:46,880 --> 01:09:54,119Tesla and are about that cheaper,right, a China company knocking off a92001:09:54,239 --> 01:09:58,760brand. Imagine that. Yeah,so anyway that the price are about twenty92101:09:58,800 --> 01:10:03,000five percent cheaper. So that tooksome China market share, although Tesla stock92201:10:03,199 --> 01:10:06,840has actually hung in there pretty well, and we've talked a lot about their92301:10:06,920 --> 01:10:13,720dominance in the charging space and howthat ultimately could become a bigger business.92401:10:13,760 --> 01:10:16,279You know, Apple's back office isevery bit as big a business as selling92501:10:16,319 --> 01:10:21,359iPhones their service business. Yeah,and then then that's what's happening with Tesla,92601:10:21,880 --> 01:10:28,039This this charging station business that theyhave that dominates the that space.92701:10:28,600 --> 01:10:35,520Do you pay like a monthly subscriptionfor the updates or the updates to the92801:10:35,680 --> 01:10:41,279Tesla Yeah, you know, Iwas just thinking like how could they monetize92901:10:41,319 --> 01:10:45,920that minus So, I mean that'sthe back end, right that's servicing car93001:10:46,039 --> 01:10:48,840over The back end for them isgoing to be the charging stations, the93101:10:49,520 --> 01:10:54,439public charging stations, and I justfeel like there's so many, so many93201:10:54,439 --> 01:10:57,359things you can do with the car, right Yeah, yeah, well there's93301:10:57,520 --> 01:11:00,920only you know, I guess,but uh, anyway that their businesses is93401:11:01,560 --> 01:11:06,800clearly uh not growing as I don'twant to stay slowing because it's not slowing,93501:11:06,880 --> 01:11:12,039it's it's exploding. But uh,it's it's growing slower than it was93601:11:12,439 --> 01:11:15,720when they were the only horse inthe race. Yeah. I can see93701:11:15,720 --> 01:11:19,359a world with Amazon Palm technology.You know, that's the that's the gas93801:11:19,439 --> 01:11:24,000station, and then you have awhole bunch of Tesla evy chargers out front93901:11:24,600 --> 01:11:29,920and there's no humans anywhere to befound. A client last week that that94001:11:30,720 --> 01:11:34,640purchased a Volkswagen uh EV same priceas the Tesla evy. Uh the reason94101:11:34,720 --> 01:11:41,199he has a handicapped wife who needsthe handle that you grab onto when you94201:11:41,319 --> 01:11:45,279get into a car that's right abovethe door. Tesla does not have that.94301:11:45,439 --> 01:11:54,079So that was the sole purpose forhim getting the Volkswagen EV as opposed94401:11:54,079 --> 01:11:57,399to the Tesla EV, which hewould have preferred, but they didn't have94501:11:57,479 --> 01:12:00,960the handle get it to us.That interesting, you know. So any94601:12:01,159 --> 01:12:03,840there's a lot of competition out there, a lot to choose from lots of94701:12:04,520 --> 01:12:08,960lots of things changing, and we'llbe back after this break. We've got94801:12:09,039 --> 01:12:12,720a couple more segments with you,and we appreciate you joining us on this94901:12:12,840 --> 01:12:16,439Sunday morning. Thanks for listening toThe Money Metal Show. Say it's only95001:12:16,520 --> 01:12:27,199a name. Good morning everyone,Welcome back to the Money Metals Show.95101:12:27,239 --> 01:12:30,479I'm Dave sure what I'm here withSebastian Borsini. I'm here with Todd Glick.95201:12:30,720 --> 01:12:35,199The Greenberg boys had to run off, and so we appreciate them stopping95301:12:35,239 --> 01:12:40,520by and doing the first hour withus. Did you notice that Eli Lilly95401:12:40,560 --> 01:12:45,239had six hundred dollars a share backon September fourteenth, Eli Lilly and then95501:12:45,279 --> 01:12:47,600they went on a two week swoon, went from six hundred down to five95601:12:47,680 --> 01:12:51,239eighteen, right back to it,right right back to six hundred, right95701:12:51,279 --> 01:12:59,199back to six hundred. On excitementabout Manjaro. That's their injectable weight loss95801:12:59,239 --> 01:13:02,760drug that's going to come with ozempic. And the one thing we talked about95901:13:02,840 --> 01:13:09,800last week is they don't have FDAapproval for anything on Monjuro. Is it96001:13:09,960 --> 01:13:15,760Munjaro Monjarro. They don't have FDAapproval for anything, but it's it's expected96101:13:15,760 --> 01:13:18,680to be imminent, it's supposed tobe all that when it comes to weight96201:13:18,760 --> 01:13:24,199loss. Doctors are still prescribing itthose in a trial, and the majority96301:13:24,279 --> 01:13:29,600of my concern with this we talkedabout last week. This is a once96401:13:29,760 --> 01:13:33,079a month injectable, as is ozempicright or is it once a week?96501:13:34,039 --> 01:13:36,680I don't know. I think itmight be a once a week actually once96601:13:36,680 --> 01:13:41,760a week injectable. It's very expensive, and it struck me as I was96701:13:42,119 --> 01:13:50,159reading through the report this past weekthat the obesity is not primarily amongst wealthy96801:13:50,239 --> 01:13:55,159people. Not that there aren't obesewealthy people, because there are, but96901:13:55,279 --> 01:14:00,239when you talk about people who arestruggling with obesity, it's generally because they97001:14:00,279 --> 01:14:03,279don't have the money to have aproper diet. The drug was initially made97101:14:03,319 --> 01:14:08,720for people that were diabetic, exactly, meant for that exactly. This is97201:14:08,800 --> 01:14:12,279kind of another point that I've beenthinking about lately, is insurance companies don't97301:14:12,319 --> 01:14:15,640cover this if you are taking itfor obesity reasons. Are trying to,97401:14:15,159 --> 01:14:19,640you know, have weight loss effectsof this drug. What happens if,97501:14:19,960 --> 01:14:27,880for whatever reason obesit gets I guessclassified as a disease at that point,97601:14:28,680 --> 01:14:31,439it's going to break out, right, you know, more and more people97701:14:31,479 --> 01:14:35,279are going to be able to haveaccess to this drug. Insurance covers it.97801:14:35,399 --> 01:14:39,119Okay, cool, it's going togo through the roof, I think97901:14:39,199 --> 01:14:41,439so. Yeah, if you couldget insurance coverage on it, it would98001:14:41,479 --> 01:14:44,479make a huge difference. But rightnow, it's out of pocket, and98101:14:44,640 --> 01:14:47,840unless you're a fairly wealthy individual,you're not going to get ozempic or mon98201:14:47,920 --> 01:14:55,119general And they talk about it.We're seeing a Coca Cola and Pepsi and98301:14:56,239 --> 01:15:00,640companies like that. McDonald's selling offbecause all of a sudden, everybody's going98401:15:00,720 --> 01:15:04,720to be healthy h and and changetheir mindset about eating. And I don't98501:15:04,760 --> 01:15:09,640see that happening. But on theother side of that, I've seen something98601:15:09,840 --> 01:15:15,279with like Lulu Lemon and all theseathletic stocks of athletic wear stocks. That's98701:15:15,600 --> 01:15:18,960there's bowlcases around these things just becauseof this drug, which is very interesting98801:15:19,000 --> 01:15:23,079to me, meaning, Okay,I'm gonna lose enough weight now I could98901:15:23,119 --> 01:15:26,600go throw on some Lululemon pants orLululemon shirts whatever. It is, Okay,99001:15:27,319 --> 01:15:30,039interesting, Yeah, it is interesting. It's it's it's pretty dumb.99101:15:30,199 --> 01:15:32,479I mean, if you ask me. It doesn't seem to make a lot99201:15:32,520 --> 01:15:40,920of sense. It does, Imean someone who shops at Walmart, right,99301:15:41,279 --> 01:15:45,119probably? I mean obesity is predominantlyfor people. I mean has been99401:15:45,319 --> 01:15:53,239predominantly based on socioeconomic status. Okay, so we know that, like you99501:15:53,319 --> 01:15:57,600said, to the majority of OBEspeople are lower class people. They're not99601:15:59,279 --> 01:16:05,920so or The point is those peopleare going to continue to go to Walmart99701:16:06,000 --> 01:16:11,239for a reason because they don't can'tafford anywhere else. Not only that,99801:16:11,319 --> 01:16:15,119but they can't afford ozampi. Andlast time I checked, Walmart doesn't have99901:16:15,199 --> 01:16:19,159only fat foods. They also haveregular foods. So just because they switch100001:16:19,199 --> 01:16:24,119their you know, from pepsi toyou know, celsia, you know,100101:16:24,199 --> 01:16:27,359whatever the comparison is, they're stillspending the money. And in fact,100201:16:28,000 --> 01:16:30,560well I don't think that people areI don't think about this though. In100301:16:30,680 --> 01:16:34,800fact, and it's a better product, like an organic is more expensive,100401:16:34,920 --> 01:16:38,840But I don't think that the reasonfor this. They're not shifting from you100501:16:38,920 --> 01:16:44,119know, junk food twinkies thing dongsto apples. It's more of like it's100601:16:44,119 --> 01:16:48,119an appetite suppressant, so you're eatingdramatically less just playing devil's advocate here.100701:16:48,479 --> 01:16:55,439I mean I again, if you'regoing on a journey to fix your life,100801:16:55,880 --> 01:16:59,359you can't stick with those things ifyou're diabetic, because the reason you're100901:16:59,359 --> 01:17:02,319a diabetic was because of those things. So you tak you know, is101001:17:02,319 --> 01:17:05,800that big drug to reduce your appetitedoesn't fix the problem because you're still over,101101:17:06,039 --> 01:17:09,960your cholesterol will still be high,your blood pressure will still be high.101201:17:10,000 --> 01:17:13,520You have. That doesn't change things, right, So you have to101301:17:13,600 --> 01:17:15,640change lifestyle eventually, if you're diabetic, you have to change a lifestyle or101401:17:15,680 --> 01:17:19,119you die. And we've seen we'veseen very little of that in this country101501:17:19,439 --> 01:17:24,560historically, right, Yeah, verylittle. I think it's time for a101601:17:24,640 --> 01:17:29,039visit to the ev girars. Yougo, you know, this is kind101701:17:29,039 --> 01:17:30,479of this is kind of again.I think they're all kind of interesting because101801:17:30,560 --> 01:17:35,920and their pro and con. I'vesaid before that I drive a Tesla because101901:17:36,199 --> 01:17:41,319intellectually is the reason I have it. I want to know more about the102001:17:41,439 --> 01:17:45,960technology I lack technology. Some thingsabout it are wonderful, some things about102101:17:45,000 --> 01:17:50,199it not so much. It tookeight years to sell the first one million102201:17:50,279 --> 01:17:57,640electric vehicles eight years. It tooknine months to sell the second one million.102301:17:58,359 --> 01:18:00,800If you don't think this is growing, it's going to take less than102401:18:00,920 --> 01:18:06,640six months to sell the next onemillion because starting January first, get this,102501:18:08,279 --> 01:18:12,920the seventy five hundred dollars rebate isnot a rebate anymore. It's a102601:18:13,039 --> 01:18:16,960refund. You get to check onthe spot. In the past, when102701:18:17,000 --> 01:18:19,840you had that seventy five hundred dollarstax credit, you had to wait tell102801:18:19,840 --> 01:18:24,439your file to your return. Thenyou got that back. Now Tessa's going102901:18:24,520 --> 01:18:26,640to hand it to you, orit's going to hand it to you.103001:18:26,720 --> 01:18:30,479Here's your check, seventy five hundredbucks. Have a nice day. Not103101:18:30,600 --> 01:18:33,319a week goes by that I don'tget a call or somebody come in the103201:18:33,399 --> 01:18:38,800office and they're buying an ev forwhatever reason. Whether you like I'm doing103301:18:38,880 --> 01:18:42,399it doesn't matter. It's it's redhot. Right now, I'm going to103401:18:42,439 --> 01:18:45,840give give our listeners a couple ofbasic buying tips. Right so, if103501:18:45,840 --> 01:18:48,800you're thinking about an evy out therea couple of basic things you've got to103601:18:48,920 --> 01:18:53,840know. Number One, install ahome charger before you take delivery. That's103701:18:53,880 --> 01:18:57,800a must. You can't be dealingwith these public charging stations. They're annoying,103801:18:58,239 --> 01:19:03,760they're slow, install an in homecharger before you take delivery. Number103901:19:03,800 --> 01:19:08,920two. Don't believe the range numbersno matter what they're advertising, don't believe104001:19:08,960 --> 01:19:12,039them. Cut them by at leasta third. If they're saying three hundred104101:19:12,079 --> 01:19:15,359miles, be thinking two hundred miles. If they're thinking four hundred miles,104201:19:15,399 --> 01:19:17,319they be thinking three hundred miles.Cut them by at least a third.104301:19:17,800 --> 01:19:21,520But whatever you do, don't giveup range. Tesla has just recently come104401:19:21,560 --> 01:19:27,279out with a two wheel drive ModelY. Model Y is the fifth hottest104501:19:27,319 --> 01:19:30,880selling car in the world. Thenew Tesla Model Why has been out for104601:19:30,920 --> 01:19:34,600a couple of years, fifth hottestselling car in the entire world, so104701:19:35,479 --> 01:19:39,079they now have a Model Why.This is a two wheel drive with two104801:19:39,159 --> 01:19:43,159hundred and sixty miles of range versusthree hundred and thirty mile of range for104901:19:43,279 --> 01:19:46,760the long range four wheel drive.Do not give up range for anything period.105001:19:47,039 --> 01:19:50,880Guard range with your life. Ifyou're planning on taking the vehicle out105101:19:50,880 --> 01:19:57,039of town, get a Tesla nextyear middle of the year some of these.105201:19:57,479 --> 01:20:00,319I think the Ford Machi is oneof the sexiest cars out there,105301:20:00,319 --> 01:20:02,640and I wish I had it,but it takes forever to get it,105401:20:03,239 --> 01:20:09,039and UH you can't charge it ona Tesla charging station. Middle of next105501:20:09,119 --> 01:20:13,720year, you'll be able to UHTesla, a GM Volvo. The several105601:20:13,760 --> 01:20:17,680others have inked agreements with Tesla wherethey're going to have an adapter that will105701:20:17,720 --> 01:20:21,600allow them to use the public theTesla public chargers. Until then, if105801:20:21,640 --> 01:20:26,279you're taking the car out of town, you got to get a Tesla because105901:20:26,319 --> 01:20:30,279it's too hard to find charging stationsfor the other things. Last thing,106001:20:30,039 --> 01:20:36,600consider leasing. The technology is changingso rapidly that you may not even have106101:20:36,800 --> 01:20:42,800the same battery in three years.It may be a whole different UH system.106201:20:43,479 --> 01:20:46,720There's just things happening all the timethat that you'd like to take advantage106301:20:46,760 --> 01:20:54,439of that may render your current EVless valuable. So think about leasing.106401:20:54,560 --> 01:20:58,439Those are those are just some tips. That's my EV garage today, Todd,106501:20:58,960 --> 01:21:01,600just a few buying tips for themillions of people that are buying evs.106601:21:02,680 --> 01:21:05,880It's good to know, good toknow, you know. Another thing106701:21:05,960 --> 01:21:11,079that I was just thinking about isthat the small cap stocks have just underperformed106801:21:11,159 --> 01:21:14,520big time, and the Russell twothousand ye today is down two point four106901:21:14,600 --> 01:21:17,960percent. The S and P's uptwelve point seven percent. You know,107001:21:18,119 --> 01:21:20,239this is something I was just kindof thinking about, and Dave, I107101:21:20,319 --> 01:21:26,000won't want your help to help methink through it. Do recessions normally come107201:21:26,079 --> 01:21:30,640after when small stocks or equal weightedS and P has done so bad compared107301:21:30,680 --> 01:21:33,680to the top seven, They're they'remore volatile, so that you would you107401:21:33,720 --> 01:21:38,039would say, well, they're predictinga recession, right, there are slowdowns107501:21:38,079 --> 01:21:43,000coming. Uh, junk bonds,high yield bond, same thing, spread107601:21:43,079 --> 01:21:46,000whitens and we haven't seen that yet. Started a little bit a little bit.107701:21:46,199 --> 01:21:49,319Yeah, yeah, I probably needto watch that closer because I think107801:21:49,399 --> 01:21:53,560we are getting to that tipping pointhere. But yeah, that's that's one107901:21:53,600 --> 01:21:57,920of those things. You know,we were the sort of small cap stocks108001:21:58,079 --> 01:22:03,479certainly something that you will find alot more interest in those when the economy108101:22:03,600 --> 01:22:08,600is expanding, right, and alot less interest in them when the economy108201:22:08,680 --> 01:22:13,239is slowing down. And that wouldbe the vein in which you'd have them108301:22:13,319 --> 01:22:16,119signaling. Of course. The otherthing is an inverted yield curve, you108401:22:16,199 --> 01:22:20,079know, where short term interest ratesare higher than long term interest rates.108501:22:20,479 --> 01:22:26,600Extremely unusual. We've been on thatnow for about eighteen months and we have108601:22:26,840 --> 01:22:30,960not yet seen recession. I don'teven see a recession on the horizon.108701:22:30,439 --> 01:22:35,479I'm seeing a slowing economy, butpretty strong economy overall. The big difference108801:22:35,600 --> 01:22:40,880is the rising credit card debt.That's kind of the eight hundred pound gorilla108901:22:40,920 --> 01:22:43,359in the room, if you will. Well, the credit card debt levels109001:22:43,800 --> 01:22:47,399aren't close to where they were prepandemic, But the interesting thing is delinquencies109101:22:47,600 --> 01:22:51,479are increasing at such a higher rate, which tells me that even though debt109201:22:51,560 --> 01:22:56,199level hasn't increased yet, the rateshave increased, and so the payments are109301:22:56,279 --> 01:22:59,800higher, and so the payments areharder to make. Makes a significant difference.109401:22:59,840 --> 01:23:02,399No, I don't need to individuals, but to the US government corporations.109501:23:02,479 --> 01:23:05,640Think about that. If you've gotthirty trillion dollars in debt on which109601:23:05,680 --> 01:23:10,560you are paying one percent, nowyou've got thirty trillion dollars in debt on109701:23:10,600 --> 01:23:13,800which you're paying five percent, Especiallywhen the yeah, the bonds rolling off109801:23:13,840 --> 01:23:16,960the paper are point one two fivecoupons. Yeah, they're reissuing them at109901:23:17,000 --> 01:23:21,479five. There's almost no way youcan And it makes me very sad to110001:23:21,520 --> 01:23:26,520say this, but there's almost noway you can have the deficit decline at110101:23:26,560 --> 01:23:29,960this point, this point, withthis gigantic of a deficit, these high110201:23:30,079 --> 01:23:34,680interest rates, it's just almost impossibleto cut spending to the point where you're110301:23:34,720 --> 01:23:39,680actually going to see the deficit evenstabilize. The craziest thing, Dave,110401:23:39,760 --> 01:23:43,399though, is as long as weall kind of are on the same page,110501:23:43,800 --> 01:23:45,840it can go to a billion,trillion million, whatever the number next110601:23:45,920 --> 01:23:48,760is, sectillion, I don't know, it doesn't really matter as long as110701:23:48,800 --> 01:23:53,079we all agree to the rules intheory. On the other side of the110801:23:53,159 --> 01:23:59,199ev garage, Exon on Wednesday acquiredall of Pioneer Natural Resources, which is110901:23:59,239 --> 01:24:04,159a big permium oil company, forsixty billion dollars, which is excellon making111001:24:04,239 --> 01:24:08,680a huge bet on the future offossil fuel, you know. And if111101:24:08,680 --> 01:24:13,039you can't drill, we'll go buysomebody you want to grow the company you111201:24:13,119 --> 01:24:18,000can't drill. You know. What'sinteresting this is a fact oil production in111301:24:18,079 --> 01:24:20,880the United States right now is atan all time high. It's never been111401:24:21,000 --> 01:24:26,760higher than it is right now.So could it be more? It absolutely111501:24:26,840 --> 01:24:29,119could be more, and should bemore, and we should be more self111601:24:29,119 --> 01:24:31,640sufficient. But a lot of it, a lot of the shortage is because111701:24:31,640 --> 01:24:35,479we're using it so much, butwe've never produced more oil in the United111801:24:35,520 --> 01:24:39,600States than we are today. Andwe'll be back right after this break.111901:24:39,640 --> 01:24:47,119Thanks again for listening to The MoneyMatter Show. Say it's only a name,112001:24:50,880 --> 01:24:54,399Welcome back to the Money Matter Show. My name is Todd Glick.112101:24:54,399 --> 01:24:58,239I'm here with Sebastian Borsini and DaveSherwood. The Greenberg's had to go and112201:24:58,600 --> 01:25:00,840try to win a football games,so we're holding down the four here.112301:25:00,920 --> 01:25:04,880I will say always try to checkus out on Sunday nights. Sunday Night112401:25:04,880 --> 01:25:09,199football is a great thing to watch. You watch one thirty minute segment of112501:25:09,279 --> 01:25:13,880the news and then we're on tenthirty on KVOA on Sunday nights. And112601:25:14,000 --> 01:25:17,399then also you can check out allof our TV shows on YouTube any chance112701:25:17,439 --> 01:25:19,880you get. You go to GreenbergFinancial dot com. You have the YouTube112801:25:20,079 --> 01:25:24,479icon in the top right click thatit goes automatically to our YouTube page,112901:25:24,760 --> 01:25:27,760or you can go to YouTube itself. Type in Greenberg Financial Group you'll find113001:25:27,800 --> 01:25:31,439our page. We're on all thesocial media's Facebook, Twitter, LinkedIn Instagram.113101:25:31,680 --> 01:25:35,119We put post things weekly on thereas well. I do my weekly113201:25:35,199 --> 01:25:41,319market update on Wednesday, and Imean on Fridays, and I mean there's113301:25:41,439 --> 01:25:45,399Saturday radio shows that we have atsix thirty am, twelve and twelve thirty113401:25:45,439 --> 01:25:48,279on this station, as well asour premiere show on Sunday. So there113501:25:48,399 --> 01:25:53,840is there's always an opportunity to learnmore, be prepared, think you know113601:25:53,920 --> 01:25:56,800how we're thinking. You can evengo to our website and sign up our113701:25:56,840 --> 01:25:59,960newsletter, right, So, don'tmiss an opportunity to stay in four.113801:26:00,359 --> 01:26:03,279And there's something that nobody ever talksabout. We are really nice people.113901:26:05,079 --> 01:26:13,000Friendly, Yeah, accommodating, intelligent, nice human beings. Bet on humanity,114001:26:13,199 --> 01:26:16,439That's what I'm saying. Say we'relong humanity. Long go long humanities.114101:26:17,800 --> 01:26:21,840Speaking of which, Walgreens is oneof the worst performing stocks and it114201:26:23,000 --> 01:26:26,079is the worst performing stock in theDow this year. It's one of the114301:26:26,119 --> 01:26:30,119worst performing stocks in the S andP five hundred, down thirty seven percent.114401:26:30,560 --> 01:26:35,319They hired last week the former CEOof Express Scripts as their new CEO.114501:26:36,359 --> 01:26:40,399I think it's a pretty good entrypoint for him, Todd. I114601:26:40,479 --> 01:26:43,520don't see how he could do anyworse. You know, when you come114701:26:43,600 --> 01:26:46,880into something like that, it's atrain wreck. How can you not do114801:26:47,079 --> 01:26:54,720better? Yeah? Thursday the Thursday, the company Walgreens, for the first114901:26:54,800 --> 01:27:00,159time in over ten years, reporteda second quarter of disappointing earning, the115001:27:00,199 --> 01:27:04,479second consecutive quarter of disappointing earnings,and offered we guidance as the mid demand115101:27:04,560 --> 01:27:11,600for COVID vaccines and COVID test kitscontinues to decline. That was their revenue115201:27:11,680 --> 01:27:14,520generator. That was a biggie.Now you think about it. Think about115301:27:14,600 --> 01:27:17,680not only the COVID vaccines, whichthey were getting paid whatever fifteen twenty bucks115401:27:17,960 --> 01:27:20,520for every one of them, andthey did tens of thousands of them,115501:27:20,600 --> 01:27:25,920right, plus the test kiss thosewho couldn't keep those on the shelf back115601:27:25,960 --> 01:27:30,680in the day. Not only that, but the number of people walking into115701:27:30,760 --> 01:27:34,199the store to get those things mightpick up a little thing, another one,115801:27:34,279 --> 01:27:38,119two, three, four or fivethings. So store traffic was off115901:27:38,199 --> 01:27:43,000the charts. Well, it's likea morgano. It's and so it's interesting116001:27:43,000 --> 01:27:48,640because the stock responded pretty well tothat news, thinking even though there was116101:27:48,720 --> 01:27:55,960disappointing earnings, disappointing revenue, we'vegot a new CEO. The guidance was116201:27:56,039 --> 01:28:00,439not good because COVID's kind of goingaway. Even you know, the stock116301:28:00,600 --> 01:28:02,600rallied because I think people were thinking, well, this may be yet,116401:28:02,680 --> 01:28:04,760this may be the last of thebad news. I mean, this is116501:28:05,319 --> 01:28:10,760so bad that that that's pretty mucheverything is out there. Stock rallies.116601:28:10,920 --> 01:28:15,319Then on Friday, the Walgreens pharmacytechnicians come out and say they're gonna they're116701:28:15,399 --> 01:28:20,239they're working with the CVS pharmacy techniciansto try to put together a nationwide strike116801:28:21,520 --> 01:28:27,399and back down it went. Sowhat a frustrating, what a frustrating time116901:28:27,479 --> 01:28:31,680to be a Walgreens investor. AndI have a friend who was a pharmacist117001:28:31,760 --> 01:28:35,119with Walgreens for years and years andhe and he has his four oh one117101:28:35,199 --> 01:28:39,439k pretty much in Walgreen stock becauseit had been a decent performer, pays117201:28:39,479 --> 01:28:45,560a nice dividend, and it justmore there's another reminder not to put your117301:28:45,600 --> 01:28:47,880four oh one k in your companystock. No, it just doesn't make117401:28:47,880 --> 01:28:53,079any sense. Diversification is the nameof the game. It is a Boying117501:28:53,199 --> 01:28:58,319has continues to struggle down three percenton Friday, to the lowest level in117601:28:58,399 --> 01:29:02,479nearly a year. The company announcedthe expansion of that inspection for defects in117701:29:02,560 --> 01:29:08,880the seven thirty seven max. Thesedefects of weight on Boeing's delivery figures.117801:29:09,159 --> 01:29:13,399Get this, Their delivery figures rightnow for Boeing are the lowest they've been117901:29:13,479 --> 01:29:17,640since twenty twenty one. We talkedabout the S and P five hundred equal118001:29:17,680 --> 01:29:21,479weighted being the same level it wasin February of twenty twenty one. Here118101:29:21,520 --> 01:29:27,199you've got Boeing. Now their deliveryfigures are now down to where they were118201:29:27,760 --> 01:29:32,359in twenty twenty one. I thoughtthat that was amazing. PEPSI down eleven118301:29:32,399 --> 01:29:36,560percent in the last ninety days.I'm concerns about those weight loss drugs eating118401:29:36,600 --> 01:29:42,119in the snack food. But thecompany reported last week revenue and that income118501:29:42,239 --> 01:29:46,479well above expectations. Get this,They raise guidance. So how is that118601:29:47,319 --> 01:29:51,720negatively? And we've talked about this. We don't think it's negatively impacting them118701:29:51,880 --> 01:29:59,439as much as market participants would liketo believe. And they're the proof is118801:29:59,520 --> 01:30:04,800in the number, right, revenueand net income above expectations and raised guidance118901:30:05,319 --> 01:30:09,199thechins going forward. They think thingsare going to be good. We talked119001:30:09,319 --> 01:30:13,560last week about how higher interest rateshave made the break even number harder on119101:30:13,760 --> 01:30:18,279solar for homeowners, sent the solarstocks down thirty five percent to a three119201:30:18,399 --> 01:30:28,439year low. Record outflows out ofthis solar ETF they gained five percent.119301:30:28,520 --> 01:30:32,560On Tuesday, both Deutsche Bank andBared. Both of those companies upgraded the119401:30:32,600 --> 01:30:38,600group, saying the selling has justsimply been overdone. Apparently solar is not119501:30:38,800 --> 01:30:45,399going to go away any quicker thanjunk food. Right, it's actually quiet.119601:30:45,520 --> 01:30:47,560I can't imagine solar goes away.I mean, at the end of119701:30:47,600 --> 01:30:53,239the day, people, it's allright on the economic front, but it119801:30:53,319 --> 01:30:56,439makes people feel good. I thinkit's like EV's, so it's going to119901:30:56,479 --> 01:31:00,560be increasingly brought about, and that'sthe government releases new programs to incentivize it,120001:31:00,600 --> 01:31:02,880and it will be brought about.I mean, obviously rates are the120101:31:02,920 --> 01:31:05,880biggest thing at the end of theday. I mean, from an economic120201:31:05,880 --> 01:31:10,640extent, rates rates are important,but rebates are are are mandatory, and120301:31:10,640 --> 01:31:13,399if you're gonna get any kind ofa new thing going like that, to120401:31:13,600 --> 01:31:15,479get to be motivated, yeah,you have to you have to do some120501:31:15,920 --> 01:31:19,680some rebates. The problem, youknow, I always problem is that that's120601:31:19,760 --> 01:31:24,880not capitalism. You know, No, that's true, that's true. It's120701:31:24,920 --> 01:31:29,640not capitalism in its purest forum forsure. Speaking of a weight loss of120801:31:29,760 --> 01:31:33,840that. Norvodic Nordic, which isthe manufacture of an exempic, hit a120901:31:33,920 --> 01:31:40,119new all time high on Friday lastFriday, citing robust sales duh, and121001:31:40,279 --> 01:31:45,600projecting sales growth of thirty two tothirty eight percent for the next six months.121101:31:45,439 --> 01:31:49,039The stock is telling us forty sixtimes forward earnings, which is pretty121201:31:49,079 --> 01:31:55,159expensive. The average stock about twentytimes forward earnings, so forty six times,121301:31:55,560 --> 01:32:00,319and there's definitely going to be increasingcompetition. This is without you know,121401:32:00,399 --> 01:32:03,199they're the makers of ozempic, andthis is without Monjournal, which is121501:32:03,239 --> 01:32:10,319supposedly a way better drug than ozempi. So if Majorn gets approved, what's121601:32:10,359 --> 01:32:15,079going to happen to ose empic sales? Seems like they're very vulnerable, to121701:32:15,159 --> 01:32:17,720be honest with you, not eventhat. But I read something the other121801:32:17,840 --> 01:32:21,640day that they're cracking down on allthese compound pharmacies. That's just go in121901:32:21,760 --> 01:32:26,359and change it by one ingredients inorder to sell it, right. I122001:32:26,439 --> 01:32:30,039think that once you do crack downon something like that, obviously it leads122101:32:30,079 --> 01:32:32,520to more revenue for yourself. AsNovo or Weee Lily or Eli Lilly,122201:32:32,720 --> 01:32:35,800part of me I mean, theycan't make ozempic fast enough right now.122301:32:35,800 --> 01:32:39,359And it's approved just for diabetes.It not approved or weight loss. No,122401:32:39,399 --> 01:32:43,000it's not. The doctors prescribe forweight loss over all over the place.122501:32:43,079 --> 01:32:44,560Right. You could pay out apocket for it. Yeah, and122601:32:44,600 --> 01:32:46,319you're paying out of pocket, andit's expensive. It's expensive. I don't122701:32:46,319 --> 01:32:50,479know if it's a thousand dollars ashot or what it did. We have122801:32:50,560 --> 01:32:54,239a few clients that happen that wasone of the alternatives. You know,122901:32:54,319 --> 01:32:57,039it's too expensive to get it fromthese producers, so I'm going to go123001:32:57,039 --> 01:32:59,840to this compound pharmacy that's going tosell to me for thirty percent cheaper.123101:33:00,199 --> 01:33:02,119Okay. Yeah, you're trying toget it, trying to get a deal,123201:33:02,359 --> 01:33:04,640right, and not sure you're gettingthe real deal. Yeah, and123301:33:04,680 --> 01:33:08,119you're not really sure what you're getting, Yeah, especially when there's patents of123401:33:08,159 --> 01:33:11,359alves, so you know that's notthe same compound. No, No,123501:33:11,640 --> 01:33:14,039you want to know a fun fact. I was looking at a map of123601:33:14,439 --> 01:33:16,800looking at a map of Iran,to be honest with you, and I123701:33:16,920 --> 01:33:20,079saw Ukraine and I thought, Iwonder how big Ukraine is, because you123801:33:20,119 --> 01:33:24,319know, you think about Russia isworking along the eastern border there, and123901:33:24,359 --> 01:33:27,079how long would it take him toget across. You know, Ukraine is124001:33:27,640 --> 01:33:30,600only ninety percent the size of Texas. Wow, I didn't know that.124101:33:30,960 --> 01:33:34,359I thought it was much bigger thanthat. Ninety percent the size of Texas124201:33:34,439 --> 01:33:39,560and has fifty percent more people.It's crazy perspective. Yeah. Yeah,124301:33:39,800 --> 01:33:43,720so it's like Russia is trying totake over Texas, Texas. I'm looking124401:33:43,720 --> 01:33:46,439at this chart here it says GeneralElectric is the top four stock since the124501:33:46,520 --> 01:33:50,880bottom on top performers top a topperforming stock. Isn't that something to look124601:33:50,880 --> 01:33:55,199at? I mean, we talkedabout GE. I mean this is you124701:33:55,239 --> 01:33:58,399wouldn't think that'd be a top fourperforming I mean, obviously in the video124801:33:58,479 --> 01:34:01,840is WON and Metas too, butFICO and GE three and four, that's124901:34:02,079 --> 01:34:05,079that is interesting. I wouldn't havegot that. No, No, and125001:34:05,159 --> 01:34:11,760I the United Healthcare speaking of ofGE, because they've got to GE Healthcare125101:34:11,840 --> 01:34:15,159and then the United Healthcare. It'sthe most expensive Dow stock, unchanged on125201:34:15,239 --> 01:34:19,600the year, but gained four percenton Friday. It led what little strength125301:34:19,640 --> 01:34:24,239there was in the Dow on Fridayafter reporting revenue and that income for the125401:34:24,279 --> 01:34:28,119most recent quarter above expectations. Youknow what, one thing for sure,125501:34:28,479 --> 01:34:31,039Flow knows right. So when youthink of Flow, what do you think125601:34:31,079 --> 01:34:36,399of Progressive? Of course, newall time high on Friday for Flow,125701:34:38,560 --> 01:34:43,680New all time high for Progressive onFriday, after reporting a second consecutive month125801:34:43,720 --> 01:34:47,520of record net premiums. That girlis saling some insurance. Well, I'll125901:34:47,520 --> 01:34:51,000tell you what. They probably gotthe best commercials on TV. They're pretty126001:34:51,039 --> 01:34:54,960pretty darn funny. I mean they'repretty good. Uh like the state farm126101:34:55,039 --> 01:34:59,119ones that's good. Yeah, No, those are good. Those are good.126201:34:59,279 --> 01:35:00,800The auto one it's terrible, butthere's a couple of good ones.126301:35:00,920 --> 01:35:04,600I kind of liked the motto.I thought that was hug Anyway, FTX126401:35:04,680 --> 01:35:10,359trial that was this week, andman, those stories out of that trial126501:35:10,520 --> 01:35:13,680is something else. You have youheard any of them? No? Well126601:35:13,800 --> 01:35:18,560yeah, yeah, Well apparently thedevil made me do it. That's what126701:35:18,720 --> 01:35:21,439your girlfriends that. Yeah, Iguess the devil made me do it.126801:35:21,520 --> 01:35:27,399Yeah. Apparently these people running billionsof dollars didn't know the difference between solvency126901:35:27,479 --> 01:35:30,319and liquidity. Gee. Not onlythat, apparently they were all in the127001:35:30,479 --> 01:35:38,520same condo and they were in thispoly something relationship apparently they were in nine127101:35:38,560 --> 01:35:41,319people. We're in more relationship.I don't know if that works, Dave,127201:35:41,680 --> 01:35:45,800but they were all just doing thingswith one another. They were running127301:35:45,840 --> 01:35:46,800this company. I mean, thestories out of it. I mean,127401:35:47,159 --> 01:35:51,239there's gonna be a really fun moviecoming out about this trial. Yeah,127501:35:51,319 --> 01:35:55,840in this this whole situation in theyears to come, there are a lot127601:35:55,880 --> 01:35:57,920of characters. Okay, we're comingdown to the end of the show,127701:35:57,960 --> 01:36:00,720and we'd like to remind you againif you'd like to have a financial plan,127801:36:00,880 --> 01:36:03,199free financial plan, we are offeringthat. Just give us a call,127901:36:03,279 --> 01:36:08,079well, set a time you comein. It's no obligation. We'll128001:36:08,119 --> 01:36:12,119produce a financial plan for you whichwill give you a peace of mind.128101:36:12,479 --> 01:36:15,920The one thing that I've said before, everybody that walks out of that meeting128201:36:15,960 --> 01:36:18,039with you, guys who walks outof there with a smile, not necessarily128301:36:18,119 --> 01:36:21,399because they're wealthy, but because they'recomfortable that they now have a plan.128401:36:21,560 --> 01:36:26,560They know where they're at. Andwe say at Greenberg Financial, it's important128501:36:26,600 --> 01:36:31,439to be happy. Probably the mostimportant thing is to be healthy. But128601:36:31,520 --> 01:36:36,600a Greenberg Financial, what we're tryingto do is be profitable. Next week