All right, so here's some fun news. Google lost seventy billion dollars in
value because of the Google Gemini. What they want to pretend it's an artificial
intelligence. It's not an intelligence, it's code. It's not even good code.
Oh I'm sure the code's good, but the people behind it are in
fact spiritually captured. So of course that means their stock is going to tank.
Obviously, we'll talk to Zach Abraham about that. Plus, what does
it mean if you're you're an executive former executive for an airplane manufacturer and you
literally refuse to fly on one of your company's planes because you don't want to
die, that would mean the stock of bolling Wood just plummet, right,
Well, maybe not, but we'll ask Zach Abram about that as well.
And then there's a discussion of the FEDS like cutting rates are near, but
it's truly the case. Is it actually going to be near to cutting rates?
Time? All of this now with Zach Abraham, Chief Investment Officer Capital
Management will get started. Now with the help of Alan SOPs allansaps dot Com,
slash Todd, and of course with God Almighty himself, and with the
help of a device called a stream deck. Super fancy thing because I get
to do this. That's see, the Todd Herman Show is one hundred percent
disapproved by big pharma technocrats and tyrants everywhere. Now from the high mountains of
Free America, here's the Emerald City exile Todd Herman. Today is a day
the Lord has made in These are the times to which God is the saded
we shall live. My friend and brother, Zach Abraham, joins me from
across the country. Not quite because I'm in Idaho. He's in a separate
country called Washington. Zach, welcome back to the program from from deep behind
enemy lines. Yes, it's great to connect. I can hear a din
of freedom in your voice. You remember what that's like. Yeah, I
remember. I've got a vague recollection. Yes, yeah, Well it's it's
nice to be semi free. I have to ask you, man, this
this is Google good to survive this seventy billion dollar collapse in their stock.
I mean the layoffs. It's a blood bath at Google. It's like one
in seven employees gone. The stock just cratering because they lost seventy billion dollars
in advice is not going to go back up, right, so they lose
the value seventy billion down. It's it's a blood bath. Now the EFTs
they're going to stop our ETF's going to stop automatically buying Google, and they're
going to realize how risky this is. Right. No, Now, what
I do think is and we actually owned Google, it's not a huge position
for us, but like it's it's held with extreme prejudice. Let me just
put it that way. It's it's one of those things that I don't you
know, I'm not a huge fan of clients. Go, I don't want
to support the company. You're not supporting the company. You bought that you
bought that stock from another shareholder. Okay, whether we own the stock or
not doesn't have a benefits the company or not. But but uh yeah,
yeah, I'm not a huge fan. But but what I do think is
hilarious about all this is how long do these schmucks just keep shooting themselves in
the foot? You know what I mean? Like, how did you think
that was going to go? Right? It's like the whole bud like Dylan
move anything. How did you think that was going to play out? It's
just dumb, you know what I mean? Like the other thing, if
if I want to see a picture of a pope, you can't show me
a white man as a pope. Did you did you hear that part?
No, I know, George Washington, no one could be white. This
was a code decision. We're going to have equity in all things. So
George Washington's now black. And people in bubble societies simply don't get this.
Like I'll give you. This is a CrossFit example. It is not unusual
in CrossFit to talk about and forgive the language, but we talk about glutes,
we talk about butts, and it's right. It's not unusual to see
guys and sometimes the first time I had to do this, I thought,
I can't believe I'm doing this. To take a massage device and your massaging
inside your leg or you know, that's not unusual in a CrossFit community,
right, you go do that? Go do that in polite society, like
walk into a bar, start massage in the inside of your leg. You're
gone. It's bubble thought. And this is so indicative of Silicon Valley that
they they cannot smell their own stink. No, my favorite story worry of
this, ever, this is my favorite Silicon Valley story is I went to
Oh gosh, I want to say it was IVP. You think i'd remember
since my favorite story. One of the big funds. You know, they
had a couple billion dollars in their management, and we did a presentation.
They asked us to stay for lunch. They wanted to talk some more about
investing. And I go out in the sun deck and Zach, they have
live lobsters. So they're pulling the lobsters out of the tank. They're you
know, cooking them for you. And this is unshareholder money, obviously very
profitable. So we eat, we'd go to, you know, have our
conversation. That night, I went out to dinner at a company that never
turned a profit Salon dot com. After I went to their office and guess
what they were doing. They were pulling live lobsters out of tanks and they
were serving them. They'd never turned a profit. I go to dinner with
the CEO, nice guy, and he says to me after I come back
from the bathroom makers, oh, by the way, I'm buying a helicopter.
Sure no one down there. So this is irresponsible, not a soul,
and that's the bubble thing. So Google puts this product out and did
you see the one about misgendering Caitlyn Jenner? No? No, I no,
no, but I'm all ears. Okay, So someone asked the Google
fake AI fake intelligence, should I misgender Caitlyn Jenner, who's actually Bruce Jenner,
but he calls himself Kaitlyn. Now, should I missgender Caitlyn Jenner if
it would prevent a nuclear holocaust? And the Google gem and I said,
that's a very complicated question. There's no right or wrong answer, and then
ultimately it said no, you should not miss gender Caitlyn Jenner, even if
it would prevent a nuclear holocaust. I know, I man, I mean
talk about losing the narrative, you know, I you don't even know what
to say at this point because you I mean, like I would like to
look at them and just go, hey, guys, what what good is
a piece of software if it doesn't even tell you what really happened? Right?
Like? How? What where do you know? You've gone to our
where and you can't so yeah, or just ask a different question. So
what you're telling me is you should kill Caitlyn Jenner before you miss gender Caitlyn
Jenner, because in a nucleo holocaust. We're all going to die, so
you should kill every person who has bought the transgender lie instead of misgendering one
transgender person. They can't even get that far ahead, and there thinking,
I know it's a cliche, but tell me this is not a religion.
Tell me this is not back, you know, backing into being accidental Satanists.
It's it's so, you know, and I'm not the first person to
say this, You've said it many times too, but I think it's the
only way that you can categorize what that line of thinking is because much like
you know, and even to call it a religion, I think is a
bit of a nock to religion. Meaning if you look at the world's biggest
religions, even the ones that you don't agree with, there are historically accurate
aspects of them that are verifiable through several different cultures and several different historic records,
so we can cross verify there's reality there at least right to some of
them, you know, to to the major religions, you know, for
instance, it is a it is a it is a historically verifiable fact that
you know, Abraham was the was the father of of of the Jewish people,
and that his offspring ended up being the father of the Islamic Uh,
you know the Islamic religion, right, we can cross reference that in several
different historical facts. This religion is just a really I mean, I mean
it literally, I mean you might as well be a wicked right or like
that worships trees or something like that, just because there's no there's no but
there are trees, you see. But there are trees, so you okay,
so you could worship treate. There are no people born in the wrong
body. There was no black George Washington. There is no world we're calling
a man. A man is is worse than a nuclear holocaust. Now you've
made me uncomfortable. You made oh man, I'm sorry, we'll call Here's
the other thing. When when did spelling or excuse me, selling and pushing
and propagating false information? When did that become compassionate? Right? What like?
Make you ignorant and uneducated? And it reminds me so much of hey,
I know, or how we're going to fix black education. We're going
to lower the standards because the poor black kids just starn't smart enough. And
you go right, right, like you're just you're pulling your hair out because
you're literally doing the opposite of what you're saying. You're trying to do.
The state of Oregon has now decided you no longer need to be able to
read or read, write, or do arithmetic to graduate high school because because
you know what, that harms the blacks, because the blacks they can't learn
to read and write. Right, that's that's that's what they said. I've
heard that before. Look, I've heard that before. Right, we're trying
to think of all the time. Hey, that was so you want to
go back to Jim Crow academics. That's it. That's where I heard that
was. Why would I give them books they can't learn to read? So
Zach, speaking of stocks and speaking of morality, what does it say about
the morality of Boeing bosses when one of their own executives, and this made
it into politico, one of their own executives will not fly on a seven
thirty seven Max. In fact, having found out that he was getting onto
an airplane that was a seven thirty seven Max, he said, Hey,
I'm not trying to just cause a scene. I just want off this airplane.
This is a Max, I'm out, what does this say about the
morality? First of all, that man willing to speak out saying these things
are death traps, and the morality of bullling bosses who are saying, Noah
All's fine, And what does it say financially about their stock that, as
far as I can tell, it hasn't taken a big hit. Even with
this, I would say it is completely consistent with what we see out of
Congress. The quote unquote leaders of this country on a day to day basis
right, that no one's going to be held accountable that rules for me,
not for your rules for thee and not for me. Right, it's the
same thing. What is morality anymore? Right in this vacuum, morality is
committing yourself to never telling a young person they're headed in a wrong direction.
Right, that's morality. Right. The morality is now to underwrite any lascivious
or harmful behavior that anybody makes, because the only thing that is immoral is
correcting somebody and trying to save them for from the you know, the the
the the consequences that are guaranteed to come from their actions. Right, It's
all consistent. And this is why I was saying when when you know,
I was having a conversation with the client earlier, and they're like, you
know, or you know, how do we you know, how do we
take more advantage of what's going on? Or you know, why isn't it?
And I go, wait a second, you're wondering why it isn't You're
wondering why this isn't working the way it's supposed to. And when I said
to him, I go, does society make a lot of sense to you
right now? And he goes no, And I goes, so, why
do you Why would you not extrapolate that over to the market, right?
Why would you assume that that's just running the way it's right? Because there's
interchange. The same people that are making these decisions that are pulling our hair
out are the same. It's the same type of thinking that runs these investment
bank houses, right, that runs the Federal Reserve, the SEC. I
mean, it's just look, it is what it is, and it's just
nonsensical. Why doesn't Boeing stock I mean, yeah, it's it's rallying on
a red tape today. This this this article. I've seen it at big,
big sites. It's it's all over the place, and it's being pushed
through social media and this, this, and it doesn't affect the stock.
Okay, what happens, and I don't want this to happen. I pray
to god it doesn't happen because they never want to see loss of human life
like this. How many airplanes does it take? And honestly, in your
opinion, it was like two in a week. Look, here's the crazy.
And I've said this before, but here's the real mind bending part of
this, and it's I And again I don't say it because I'm so smart.
There's plenty of people that are smarter than I am, tons of them.
So, but the real shocking part of all this is little old me
was able to go talk to seven people at Boeing and tell you, in
nineteen twenty nineteen, before any of this stuff happened, hey we got a
problem here. These are going to keep doing this? Okay because there and
you watch it happen, and then everybody's like, who would have known?
And you're sitting there if you would have looked and wait, and then they
oh, Boeing's fine, and then they quote the CEO and I'm sitting there
going of course that's what he's gonna say. Go one step deeper, go
talk to people on the How was it that I knew that all of this
stuff was going on and I was saying, get ready, more planes are
going to go down. How did we know? Because we asked, we've
paid attention. Oh my gosh. One of the tragic days of my life
in tech, truly truly tragic. Is we put together a team. Now
think you want to think about how cool this would have end's actus was probably
seven years ago, maybe even eight, No, it was like eight years
ago. We had a deal to take Windows PCs on an Ultra skew,
like a really high end skew, so you know, a highest she'd pay
for Windows. You know what we had is we had it worked out that
we would sell you a computer that had cable TV inside of it, so
for real, I was ahead of its okay, so you could travel and
take your PC with you and it would be trickle downloading shows. So you
could actually go and pretty much get the TV show of your choice from your
PC, some of them subscription, some of them with ads. We had
that deal with the Windows Unit business unit to get that done, to ship
a computer like that that was effectively a cable box. We'd worked out all
the economics. Now think about how big that would have been. An executive
and I was out there building up the AD support for this. I had
put together initially fifty million and then one hundred million dollars in AD support for
this. One executive at Microsoft decided that people weren't going to watch video on
computers if there were ads. One dude. So the whole thing got scuttled.
And I was on the call when he scuttled it, and he asked
me to be on a team for another product. Was this the same guy
that came up with the zoom It became zoon? Oh you called it?
It became zoon. This guy's a home run hitter man. It became zoon
because he was told to go create the iPod killer. Oh. So he
asked me to stay on the team. I said no. I In fact,
I told him on the call. He was a very senior guy.
I said, I need you to be the one to call these ad agencies
and Sprint and Folger's Coffee and GM's cmos and tell them this deal is off.
I need you to do that. Oh well, no, that's not
my job, and I said no, no, no, no, no,
I'm not telling him, like I'll go in the call with you,
but I am not telling him because I cannot defend this. And to his
credit, he did that. So, Zach, here's this day. Now,
imagine this day the Zoo product is created. I'm sitting in my office
in this wonderful dear guy with this beautiful Indian accent. I really do love
the Indian accent. I find it very sing songy and very and he came
into my office and he walks and knocks in the door. Oh naish come
in, Yes, yes, yes, I want to present you something different.
Moment said yes, and it's just then goes okay, hands me a
box. This is openness. This is the news Zoom. So he sets
it in front of me and it's heavy, it's substantial. I opened the
box, Zach, and I take the top off and I look at him.
I go it's brown, yes, yes, yes, yes, no,
it's brown. To pick it up. It's very substantial. That's real
glass. It's it's brown. No, but yes, yes it's brown.
What are their colors are there? Oh no, there's no other colors.
They're all brown. Yes, yes, yes, they're all brown. This
is our differentiator. I go, nish, people don't buy brown electronics.
Do have data on this? White or black on this? I'll go yes,
I do. Where is this data? It's called the Apple Store.
The one color they don't have is brown. This is why we chose brown.
Oh. So I picked the device up and yeah, it's this substantial
device and there's a video screen. Guess what it didn't play videos Boom Winter
Winter Chicken Dinner. I was at one of the many, many launch parties
for this, and it turned and it was there was an employee discount for
the zoon. You got like fifty percent off the new zoon that within six
months they had Employee of the Month events that three people show up to remember
the employee of the month eventuals up. Everybody who comes gets a free zoon.
Taking zoons to ad agencies and handing them out yet advertise just going no,
I got like ten zones. See what I'm talking about here is bubble
thoughts. It's this and this, but those weren't. Those weren't taking people's
lives, right The airplanes are taking people's lives right. Well, I look,
it's you know it shouldn't be if you read your Bible, not only
anything. This should surprise you. No, right, because what you've done
is morality. I think the only real, durable form of reality in this
culture right now is money. Okay, boom, you read my mind.
Proverbs Chapter twenty three, verse four through five, Versus four through five.
I don't know what I started. You do the verse thing? Thats all
of a sudden, I'm speaking in terrible grammar. If Nano will bring that
up there it is. Do not wear yourself out to get rich. Do
not trust your own cleverness. Cast but a glance at riches and they're gone,
for they will surely sprout wings and fly off to the sky like an
eagle. Exactly all right, give me Zach's tweet image here. So I
went through this is you want to see lazy show prep? Zach is I
and I went mining your Twitter account, so Jess Felder writes. To get
a seven hundred and forty dollars share price simply requires Navidia to maintain a monopolistic
like operating profit margin at fifty five percent for the next decade, while also
growing sales ten times more to more than sixty six hundred billion. For context,
the entire industry sold five hundred and seventy two billion worth of ships last
year. Zachi wrote back, may must be the reason a ninety year old
client called this yesterday and asked us to put half his money in Navidia and
the other half split between Meta and Microsoft. So break that down for us.
I mean, that's that's this guy's saying that couple is valued higher than
the industry's revenue, right, Yeah, And this is what's so dangerous about
in this period of time, Like, you know, we as we as
Christians know that doing the right well, I think even that doctrine's gotten twisted.
Following Jesus Christ is no guarantee of anything. It's just not well,
Following Jesus Christ is the guarantee of being redeemed, right, right, but
I mean everything in terms of eternity, Yeah, it's everything, right,
But what I'm saying is like it's no guarantee of riches, it's no guarantee
of prosperity, it's no guarantee of anything like it's and it's really odd for
me when I hear prosperity theology taught, because I sit there and I go
Wait a second, Jesus rode into town on a donkey man, right,
you know you got pin to a tree, right, right, So why
do we think that if we follow him everything is going to be great all
the time, right right? It's just if he told us, he said,
in this life you'll face troubles. Yeah, do not be surprised.
You'll face troubles if you're if you're doing things the right way right like like
not not not as a punishment, as a way. It is like we
live in a fallen world, but it's not. It's not seeking riches right
this right, you manage people's wealth, right and Bulwark praise God pays you
well because of what you do so well. But you're not You're not thirsty
after wealth. Is what you're saying, No, no, man, And
and it doesn't mean that you can't have We've had a lot of debates about
this, even recently in my own house with my wife, and it's very
I've been incredibly blessed, and you know, I think I've told my story
on your on on the show before. But it's one of those things where
it's a whirlwind. You turn around and you look back and you just man,
God, guided steps when I was blind, when I couldn't see,
and I live at it. I'm an incredibly blessed human being. I get
to do what I love with people I love and respect. But you know,
the residual of that is the fact that I make a better living than
I ever would have anticipated. And my wife and I have talked a lot
about how do we how do we still raise kids that that aren't entitled?
How do we still raise kids that don't value that? Because the reality is,
my children grow up in an invite and I grew up in a wonderful
home, I great parents, Christian family, all that, but it's not
the same as the home that my kids have grown up in. It's just
not and it's certainly not the same that my wife grew up in. And
I think we as Christians need to understand. I think the delineation that you
put out there is really important. It's not that those things are bad,
it's the singular pursuit of those things, that those things being the focus of
our pursuits that are bad. And then the other thing. And I was
weird just we were talking about this last night around the dinner table, that
when you are blessed. There's one reason for it, and there's only one.
It's because you're being trusted to give it back. It makes no other
sense. Why would God give you something while little babies in Africa are dying
because they don't have any food? Right, Because, well, it's because
you went to church and you prayed and you taught no that if you're blessed,
it's not saying anything special about you other than the world happens to value
your contribution more than others, and the world is screwed up too, So
even that's probably not accurate. Right, But the only thing it means,
the only concrete thing it means, is you are obligated to take care of
others and give it back, and that God's trusting you with it. And
that's it. And I think we need to be dead careful about it as
Christians. Then we don't start assigning value to it. We don't sit there
and go if we're following God, why haven't I made more money? Why
am I not rich? If he's a perfect father. Maybe it's because he
knows that if he gives you that, you're going to flip out and blow
up your family. Right like right, and people need to understand this as
well. This is more scripture first Timothy, chapter six, verses nine through
eleven, and it goes right to what you're saying, Zach. Those who
want to get rich fall into temptation and a trap, into many foolish and
harmful desires that plunge people into ruin and destruction. For the love of money
is a root of all kinds of evil. Some people eager for money have
wandered from the faith and pierced themselves with many griefs. And here is Paul
writing to Timothy, you, man of God, flee from all of this
and pursue righteousness, godliness, faith, love, endurance, and gentleness.
So like inspired by what you're saying, is I when I blew up this
first shoulder, my left one, and I it occurred to me that hey,
I was asking God why why I was finally getting back in shape and
finally getting back into competitive shape. Why? And God said, if I
give you the opportunity to start over, will you put me at the center.
And I said, well, aren't you at the center? He goes,
I'm not even present in the gym when you're there. And it wasn't
like I was being ungodly. But you know what I wasn't doing. I
wasn't letting God show his face through me. I wasn't being part of the
community. I wasn't witnessing to people. I talked to one or two people
period. And I brought this up with my coach that I'm not certain God
wants me to continue this. And she was really sad for me because she
knows I love this sport. She said, why would God take away something
from you that makes you happy? And I said, because God doesn't promise
to make us happy, He desires to make us holy, So put it
on the altar, right, So put it on the altar. Put it
on the altar and see what he has to say. So I did,
and I prayed, and I went and I talked to my pastor. And
here's what my pastor said. This is so smart, he said, Todd,
I don't think God cares where you are unless it's like a strip club
or something. I think he cares who you are while you're there. So
I went back, had caught and talked with coach. I want God to
be at the center of this, she said, me too. And since
then God's blessed me with countless friends from that environment and truly being blessed by
other godly people in that environment. And I was obsessing over fitness when I
should be over there experiencing community. Right, yeah, no, And it
reminds me we were actually having this conversation. For those of you that don't
know, when I set out to start a firm, I had a very
very distinct idea of the people I was going to hire. God had completely
different ideas, and which why we jokingly refer to God. Not jokingly,
that's why we refer to God as our CEO, just because He's literally hired
every one of our employees. And the result of that is that three of
our advisors on staff are or dained ministers. And I never like I look,
Jesus Christ is the center of my life. But I'm a guys guy.
I like shooting guns, I like riding, but I like, uh,
I have to watch my mouth. I'm a football player, I'm intense.
Cursing is a hard thing for me to keep control of. I'm not
right, I'm by grace, I say, guy, I'm a you know,
but but I'm a guys guy through and through. And one of the
things we were talking about with a couple of my my employees this morning.
We have this conversation all the time. It reminds reminds me of that it's
a little bit different than we were talking about. It reminds me that burst
where David talks about I love your discipline, I love your correction, and
I remember as a kid reading that, or even as a younger adult and
going, what do you mean by that? Right? And what I've learned
is, man, I'm gonna do. I don't know why I get emotional
when I say this, but the no's have been just as big a blessings,
if not bigger blessings than the yeses. Looking back on it, Amen,
I am so glad that God prevented me from selling a company for a
billion bucks at because there was a time we could have sold out our internet
radio company and not for a billion or anywhere near that. But we had
an offer and my board said no. And it would have meant for me,
at the age of twenty eight, about fifty million dollars. See you
right, I would not see it. I would not be sitting here as
a discipled man because I would have taken you know, at least fifteen of
that popped in into a VC fund. Now I'm a limited partner. Now,
baby, let's go roll. How much can we do? And then
I've been doing seed funding on the other side, it would have been that
fifty million is a down payment on the billion, and God knows what that
would have done well, and literally God knows, And Zach has told his
testimony here before. Like Bullet Capital Management, was this outgrowth of watching firms
destroy themselves by seeking wealth and painting over lipstick on the pig scenario, which
is why Bulwark is focus on risk management. And right now, if this
isn't convincing you spiritual risk, internal enemies, what we've just talked about with
Boeing, what we just talked about with Navidia, If this isn't convincing you
that you live in a risk based society and you need in my mind,
active proli management. I think it's a must. It can reduce risk and
volatility. His company will send you a free copy of Zach's Common Sense Investing
Guide. Just go to Know your Risk radio dot com. They'll send it
to you. You can read it. It might be something you end up
doing in your own but I just ask you to really pray about whether this
is the time for on the job training. It may not be. You
might want their help, but you can read the documentderstand what active management or
portfolio means. Know your risk Radio dot Com Capital Managements and investment Advisor Representative
Truck Financial LLC, and SEC registered investment advisor and investments involve risk. Past
performance is not necessarily indicative of future results. By the way, if you're
watching the video service with see me looking at my phone. I'm not ignoring
Zach. I'm actually looking right at him. I just can't look at my
computer for this chart I want you to see because we're using the computer to
have Zach on. I know that seems odd. I went and went through
your Twitter account and I found this chart from Geiger Capital, and he writes,
when people say the economy is super strong, please understand we're running an
historic deficit six point two percent of GDP, never seen before outside of World
War Two, the GFC or COVID. If we weren't running the deficit and
bounced the budget or even got close, GDP would collapse. And then this
is Zach's response, And I want you to unpack this for us. Here
as mere civilians, Zach rot And said, agreed, Why I swallow hard
every time someone's this strong economy, like marveling at the horsepower of a one
point eight leader forbanger that's running jet fuel and nitrous fun while it lasts.
So I guess you're saying the economy eventually has to blow up. Yeah,
let me let me live. I want to throw one quick thing in there,
really quick. I say this all the time just for people listening.
If you're thinking about calling us, don't call us because you think because we're
Christians that we're going to generate better returns. That's the goal. But we
can't guarantee that, right. What I what we can guarantee is that the
people managing your money are going to watch it and take care of it like
their own, and they're going to do it after humbling themselves before God at
the beginning of every day and asking for guidance and wisdom. Outside of that,
about can we guarantee outcomes? Nope, God doesn't give stock tips.
But like I said, we can guarantee the approach. So anyway, but
back to that tweet, it's it's it's really funny to hear them make those
comments. Right, it's a strong economy. Yeah, you're dumping over two
trillion dollars into it. So it's so the it's I think the easiest way
to think about it's like the analogy of a bathtub. Right, you got
a hole in that baby, and it's spraying water all over the bathroom floor.
But they're like, hey, don't worry about it. Look at that
faucet. That thing's a high flower. The level of it is. Look
at that full bathtub, and you're like, dude, you keep this up
any longer, I'm gonna have water coming through the light fixtures right right,
And and everybody's oh, look at that thing. Go and again, it's
just the analogy of the forebanger. You got a four cylinder one point leater
engine. You've juiced it up on nitrous and jet fuel. Yeah, but
don't sit back and convince yourself it's a big block g V eight, Right,
it's not. And as soon as that juice is gone, you're gonna
go back to being a putter, right, Like, it's just you blow
up the engine because the one point eight four burger Lader forebanger is not prepared
for jet fuel and nitrous and it's going to run for man, you know
what that first minute that was a mind blower. That yeah, second ten
seconds after the first minute, when the engine blew up and the piston hit
me in the face. I wasn't a big fan of that portion of the
ride. Well, and you bring up a great point. What is the
sign that the engine has taxed too much? The smoking valves in this scenario,
or inflation, that's what it is. Right, You are burning out
the rings as we go. You're like, oh, the smoke where the
spit out. That smokes transitory. That smoke's transitory. It's gonna be gone
a second, right, Yeah, You're like, no, no, no,
no, it's gonna get worse because of what you're doing, right,
And it's just it's it's everything cultural. It's just as insane as all the
cultural stuff going on, because you're, oh, look at it's the strong
economy, and you're like, how could it not be? And what I
actually think is alarming that I look at it from a different direction. I'm
sitting there going you're running deficits like this and we still have all these problems
right there. You're taking the wrong the wrong takeaway is from this meeting.
So This is very much like this. It's like you have a big,
big block V eight and your friend asked you about, how's the gas milage
on that? Oh, it's fantastic, Well, how much do you get
per mile? Well it's unlimited, right, right? What are you talking
about? It's unlimited? Yeah, it's unlimited. So they've got in.
They look at your big truck and you're telling me you have unlimited gas manage
on this yep, absolutely coming on ride with me. So they're riding the
what's the thing behind us? Oh, that's a gas that's the that's the
gas hose. What Yeah, no, I got a gas hose connected to
it. So we keep on limited, right, so we just keep plugging
it in. Okay, so you never have to stop and fill up.
No, what happens when the hose runs out? You won't? Oh but
wait, what if you wrap around a tree? What if you oh wait,
you're you're you're telling me that hose could break? That's no, yeah,
but that's not what they say, right, They're like, what's the
hose? Want? Right? What are you? What are you out of
your runt of a hose? We'll just make more hoes. What happens in
the round a rubber, We get right in a rubber. Yeah, you
mean we can't make a hose at anything. This is a fool proof plan.
If you can't see it, you're an idiot. I grew up racing
cars. I think you know this. You know. I started racing quarter
measures when I was seven and and was racing open wheeled modifies against grown man
when I was fourteen. Loved that. I got to tell you a racing
story that just hit me out. And this is a total distraction, but
it goes to the mindset really of race car drivers and nitrous. There was
a dude, lovely guy named Bob Burns, and Bob I remember this from
memories, So if it's wrong, I mean sue me. Although I think
you've passed on to the Lord. Bob was the first guy to get personal
branding. He decided to become first fonsie as a race car driver. And
then he was sort of a guy with a bad temper, as I recall.
So he embraced the bad guy thing, total brilliant, the heel,
the heel. Right, he embraced this, and and Bob did some interesting
things, like some way out there things. But this is these are the
two greatest Bob Burns stories in history. He got in and he rolled his
car open wheel modified rolled it, and so the emergency crew comes out and
they're taking care of him, and he's screaming, get my helmet off,
get my helmet off, and he's like pulling at his helmet trying to get
it off, and the wisdom is this, no, no, don't take
your helmet off, because then when we take your heart on us off,
you're gonna drop on your head and give yourself a concussion. Get it off,
get off, try to pull it off. And finally they take the
helmet off, and his cigar he'd been smoking had fallen up against his helmet
and was burning a hole in his forehead. So they take it like Ricky
Bobby put out flames, Oprah, So I'll have to trust you, and
that I've not seen the movie. But so he had this big Hindu dot
on his head and then they put that out, put his helmet back on
and take him out. I don't know how many years later, or even
if it was a year later, Bob Burns smack the wall hard like Turn
one, so it would be one two uh three coming out of Turn four,
smack the wall straight on. Emergency crew comes out. They bring the
sawdust to sweep up the engine fluids, and here's Bob grabbing at his neck
like, okay, oh my gosh, he's got he's got whiplashing. Then
they take his humb off. He's going, yes, he didn't light it
anymore, but he chewed on it, so they have to reach in give
him the fingers of life down his throat. You're like, dude, what
are you gonna learn? Just save the cigar from Victory Lane? Right right?
Oh man, right, But that's but that's that's that's that's the mindset.
One of the things we need to talk about is, at least financially,
is what the FED is apparently contemplating doing. Well, we're talking about
branding. If you are watching the video service, which you can do by
going to video dot to Todd Herman Show dot com, then why you can
see you could have seen Zach visibly responding and laughing to all this. You
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coffee. So someone with the FED is apparently saying Zach that they are going
to they're predicting that the FED is going to do rate cuts pretty close to
now. And then someone else, Jefferson, is saying it's predicting later this
year. You found both things. It seems laughable perhaps I laughable, but
also scary, like okay, so one, yeah, because when you see
a market behaving like this, you know, when you see megacap stocks going
up the way that they have, and look, like we've talked about,
there's there's a lot of incredible stuff going on in the world AI And I'm
not saying it's all not like you know, don't take me the wrong way,
but you know, we can look at the market every single day and
look at a market that's out of control, okay, just it's out of
control. And if you go and you have inflation reaccelerating, all right,
so underneath the hood, it was stupefying to hear Harker come out. I
think his first name is John came out. He's on the FMC, the
Federal Open Markets Committee, and saying that, yeah, we think we're at
the point to start cutting rates. And you're sitting there going, wait a
second, you got four to according to your state ordering your numbers, you're
looking at four to four and a half percent growth. Okay, so that
puts you back in like nineteen ninety eight nineteen ninety nine style growth, right,
you got accelerating inflation, you got market flirting with thirty times earnings and
on you know, almost every metric, the most expensive market in US history,
and you've got full on, you've got full employment. You know,
employment numbers supposedly that are levels we haven't seen in fifty years. And you're
going to cut rates into this and if they do, it's it's going to
be a real problem because if they do, inflation is going to pop right
back up with it. Now, they may not report rising inflation, is
it as it as it is defined by their numbers and their metrics, but
look every time you see it. I mean, you can just go back
and look at yourself. If it used to be, I mean, the
market used to front run growth. So you know, the market was you
know, generally speaking, it's looking out into the future. But if you
watch it, you'll watch nothing change in the economy, but the stock market
will go up and then you'll start watching economic data get better. Right,
It's a financialized economy, meaning that if financial prices are not rising, there's
trouble. As long as financial prices keep rising, we're good. I've got
times out. We're back to the We're back to the endless gasos scenario,
right, right, and so, and and and so. If they cut
into this, it's going to get crazy and and and I think you could
see the NASDAC double an ear because the last time they did this, you
lived it, remember the height of the Oh gosh. The problem is people
remember, but they don't remember how it happens. Right, So long term
capital blows up late ninety eight, Fed freaks out in panics, even though
there's really no evidence that it's feeding back through the economy, and they do
an emergency rate cut. And at that time, we were at five and
a half percent fed funds, right, just like we are today. At
that time, we're looking at four four and a half percent growth, just
like we are supposedly today. We're looking at rising inflation, just like we
are today. And they cut rates into that, and then the Nasdaq went
ballistic, okay, and then everything went with it, right, and there's
this massive bubble. The crazy part is if you look at this market and
compare it to ninety eight, it's way crazier already than it wasn't ninety eight,
Right, it got crazy. I mean, it was overheated ninety eight,
but it wasn't flirting with a thirty multiple on it right, thirty times
earnings, You're already there. So if they cut into this, inflation's gonna
go up. I can't Todd, I really look at it. I hate
trying to predict people's motive when I do not know them and I have not
spoken to them. Yeah, you know, it's like the old ad,
don't chalk up to conspiracy. What can be explained through stupidity? Right,
But if they do that, the only thing that can make any sense to
me, for it would just be that they're trying to juice everything to get
Biden and re elected, just because their play card would tell you, no,
you can't cut rates in this environment, and they're going against their own
play card. I just it's it's really every institution in the world is committed
to Trump not getting into office, except for Mega right, every institution in
the world, because you're going to have a radicalized Donald Trump. Trump governed
as a moderate. Find me the insane thing Trump did, other than letting
Tony Fauci take over the country, which is the biggest mistake of his life
costume his presidency. Find me the truly insane thing he did. He pressured
the He pressured the UN to straighten up. But we're going to take our
money away. Wow. He went to NATO and said, yeah, you
guys are going to start pooning up some more money for your own security because
we're not going to pick up the bill. Wow. He started building the
wall. Wow. He brought manufacturing home. He got away with Roe versus
weight, getting you know, undone, although the federal government is still breaking
out law. Do you could say that's the most conservative thing Donald Trump arranged
to the Supreme Court? Okay, well, but I think it's worse than
that. I think it's why. I think it's even worse than that,
because even if you believe, like, let's say they're right. Okay,
just for the sake argument, let's say they're right, let's say Trump is
nothing but bad news. Right. Do you really what happened at the end
of his last term? It ended right, right? Remember when he wasn't
gonna leave. Oh yeah, the army was gonna have to go take him
out. Well that was when he was planning the armed insurrection, right,
so with with no arms. Well but they were they intended, right.
But but you look at him and you go, here's the difference between you
and me. Okay, you think you're in a position to determine what is
right for the country. I look at and I think your actions of thinking
that you can determine that more than the voters. I think that is a
far bigger danger president than anyone president. And and the fact that he isn't
in office right now blows up your entire theory, right right, He's never
gonna ring. Come on, man, he walked out. No. And
that's what scares me, taught, is this whole belief that we're fighting a
moral war. Because if we're fighting a moral war, I can justify breaking
any any law, right. But we don't have anyway. This is the
thing, this is the most cynical thing I'll tell you, is we don't
have laws agreed, not for everybody, right right exactly. And when they're
not for everybody, there suggestions they're no longer laws. Well, and that's
like this whole Trump lawsuit again, it's well, the three hundred and thirty
five million dollars whatever, Oh, it's laugh he did. They're what they're
accusing of. Every real estate investor in the world, doesn't. It's crazy.
I just founds through Twitter. I found this great. I'll send this
to You may not have heard it or seen it, but I ran this
piece earlier this week of an earlier TV report looked like in the in the
eighties, when Trump bought mar Largo, they were talking about it being valued
at one hundred and eighteen million dollars. Then so look at the real estate.
It's insane. And then they were talking about the the no, no,
it was a one hundred and eighteen, It had one hundred and eighteen
bedrooms, it had cash flow. And Trump gives this tour of this like
each one of these tiles is from the fourteen hundreds. All of them is
a unique piece of art. And the lady who was doing the port,
I think it was the Shrier Kennedy lady saying, the governments used to own
this as a second White House, but they wouldn't want to pay the million
dollar per year you know, upkeep or whatever. And so Trump bought it.
And this was this this huge report that judged pretend that property is worth
eighteen million dollars when there's homes around that half the size, with half the
lot that aren't cash flow, properties that don't have one hundred and eighteen begs.
And I don't even know what memberships are tomorrow logo every year. But
it's a very very exclusive private club. I'm going to think it's probably upwards
at fifty grand per year to be there. I I read somewhere that they're
generating like twenty million a year in membership does or something like that. That's
the property, right, So the property that house is worth eighteen million,
except that makes twenty million a year at least. Yeah, right, Well,
and not only that, but if you know anything about where that real
estate is, it's laughable if anybody could buy that. Like, if you
put that up for sale for twenty billion, the bid or twenty million,
the bids in a matter of minutes would exceed one hundred million. It's just
it's laughable. Like it's And again, you don't even have to be a
Trump fan or defend Trump say that. It's just fact and watching what they're
doing, it's just scary because if they can do it to him, they
can do it to all of us, and the facts don't matter. That's
exactly right. I've said this before, Zach, and I don't want to
be labor it because I do say it from time to time. Satan takes
dry runs at things. The man of lawlessness will come because I told us
that would happen. Why not get used to the lawless this now? Why
not normalize this? Right? That's what I think we're seeing. Always a
pleasure to have you on, my brother, and I beg you to go
with God's good grace. Always thanks for having me and always fun. By
the way, if you need a research guy, I fired a dude,
so I don't want him stealing my magnesia. No, I'm not letting the
I'm not letting that fox in the hend House got it all right, Thank
your brother. This is the Todd Urban Show. Please go, be well,
be strong, be kind, and do make every effort to walk into
the light of Christ, where the full armor of God, and give thanks
in a daily basis for all that God's done for you, which is in
fact everything,