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I heard a statistic that if you
have an intra market reduction during the year

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of seven percent or less, you're
incumbent is going to later re election even

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as weak as this incumbent is if
there's an intro market entry year reduction of

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seventeen percent. So if we have
a drop of seventeen percent during the year,

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that would vote better for the trip
team. So God only knows what's

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going to happen, but the Defense
certainly probably will try to rescue things at

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the September or November meeting with a
rate although all those percentaduce have lesson with

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the job or Today you're listening to
Carrie Let's his Financial Survival Network where you

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You need the Financial Survival Network now
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now more than ever, and welcome
you are listening to and watching the Financial

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Survival Network. I'm your host,
Carrie Lutz. Hey, David Bright is

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with us. We've got a really
hot jobs number. You know I reached

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in the refrigerator David for a bottle
of champagne, and I realized I consumed

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that bottle of champagne for the last
jobs number. So now I'm stuck.

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I need to celebrate, but I've
got no beverages to do it with.

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Well, I think you should just
not worry about that, because I think

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the inflated jobs number is going to
be revite down word. Although when you

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look at you know what jobs are
being built. Obviously, what we're seeing

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here is a number that's been skewed, iire by a lot of jobs that

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our service oriented and leisure hospitality,
even as our fat government gets fatter,

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all that stuff is contributed to it. Two hundred and seventy two thousand jobs

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when the element was really an hundred
and eighty five thousand. But like you

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said, it'll be revised downward for
sure. But I think that poses some

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questions for the future of what's going
to happen with you know, interest rates

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and the beads. What are they
going to do with that Because at the

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same time we add all these jobs
and then have our revisions downward, the

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ointment rate rose about to four percent
four point one percent, So you've got

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that, you know, going a
little bit higher, So if that's one

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of lower rates at some point,
But some of the beneficials are saying,

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yeah, well maybe not not so
bast because if the markets are levitating on

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AI stocks, you know, what
do we do with that? Do we

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lower rates? And there will a
lot of there's more demand destruction, So

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lots of questions out there. I
think we all kind of have a feeling

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where things might be heading in the
future. Just using the horse US as

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a point of fact, it's election
season, Well doesn't the FED have to

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cut interest rates to help meat?
That's Alan Abelson, late great editor.

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I think he's I think he passed
on from Barons once said the FED is

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doing what it does best, which
is re electing a president. Yeah,

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Nicole, but true. Huh Yeah, I think so. I think I

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heard a statistic that if you have
an intra market reduction during the year of

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seven percent or less, you're incumbent
is gonna later re election, even as

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weak as this incumbent is. If
there's an intro market entry year reduction the

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seventeen percent. So if we have
a drop of seventeen percent during the year,

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that would vote better for the trop
team. So God only knows what's

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going to happen, but the Defense
certainly probably will try to rescue things at

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the September November meeting with a rate
although all those percentaduce have lesson with the

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job or today. Hey, remember
Will Rogers said, over one hundred years

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ago, invest in inflation. It's
the only thing going up. He was

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a wise guy, wasn't he.
Yeah, on many levels. So how

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do you invest in inflation since that's
the only thing that's going to go up?

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Here? David, Yeah, good
question. Buy all the gold you

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can and just hang on to it. I guess you know, done in

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gold? Right, Yeah, there
you go. Ammunition gun's got in gold.

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That's the gone gold. I love
it. And you can buy a

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little bitcoin while you're at it,
right, why not? You know,

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I throw that in. We're good. And I did a couple of versoys

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on gang Stop perhaps some game stop. Yeah, what's with the meme stops

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here? David? Like, I
thought we outgrew that. I thought so

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too. But obviously, uh,
if you're you're just an ordinary consumer,

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you can play those games with with
stock prices. I thought Joe Kennedy did

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that during the you know, during
the twenties. But I guess we're back

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to doing that same thing again.
And it's kind of crazy what's going on

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in that world. But there are
so many other things to worry about out

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there other than that. I just
it's a pleasant distraction. Yeah, it

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is. It's kind of funny to
see what's going on a little kiddy there,

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it is. You know. Like, on the one hand, uh,

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triggering short squeezes I think is a
good thing because when you've got those

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funds naked shorting stocks that are vulnerable
to be able to stick it to them,

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it's not too bad, you know. Yeah, that's right. I

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totally agree with that abuse of short
sellers should be taken to the woodshed and

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you know, and taught a lesson
or two. I mean, if we

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had an sec and governmental regulatory structure
that actually worked for the people, there

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wouldn't be any game stop situations because
you wouldn't be able to doom abusive short

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selling. And look, I think
some short selling is good. Provides liquidity.

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It also triggers rallies stock market rallies. But in the final analysis,

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Elon Musk said they started short selling
because they had to have the certificates and

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they knew the certificates would take eleven
days to get to them, so as

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an accommodation to protect the brokers in
the in the clients, they provided for

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short selling to allow the certificate to
catch up with the trade. But that's

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we've gotten wavy, way way way
beyond that, haven't we. Yeah,

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absolutely absolutely know. It's like you
had to wait for Wells Fargo to deliver

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your share statutics before you transfer it. So rather than having to wait two

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weeks to get the physical certificate,
you you could sell the stock and then

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when you have the certificate, you
close out your position and you're you're golden.

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But so, hey, what are
the sectors you should be looking at

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coming up? Do you think the
mining sector precious metals is going to pick

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up in the next year, Well, I it certainly can't. I mean

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you have to look at the I
think the the mining stocks, the energy

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stocks. So if it's a Trump
presidency, you obviously can look for those

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sorts of things. Financials of course, uh uh. Back at some deregulation,

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I think some of those stocks will
perform better. Obviously if buying gets

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in again. You've got to look
at the things that are you know,

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more green in nature. But I
definitely think that for most of my clients

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that are retired, we're sticking with
the things that generate dividends and interest and

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more of the value oriented things that
than anything else. All right, so

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you'll like dividends, right, Yeah, we find that it takes a lot

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of the staying out. I mean, our dividend oriented things are on pace

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this year obviously not through appreciation,
much appreciation, but just through dividends and

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interest to you know, have about
a six to seven percent income, which

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for most people, if they've done
a good job of accumulating their wealth,

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that's going to give them plenty of
cash flow to live off of from their

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portfolio if they do want growth place
and they can obviously, you know,

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invest in the and videos of the
world, a MB Microsoft, those types

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of things. But but for just
pure dividend place, uh, we use

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the universe of income strategies, uh, corporate bonds, preferred stocks, those

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sorts of things, uh, generating
a nice return obviously. Uh. You

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know, the whole concern that I
had moving forward is just what's going to

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happen to our our our economy.
Just the vitifurcation of the wealthy and the

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middle class is concerning to me when
you when you look at uh, you

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know, we've got all these illegals
coming over the border which are filling all

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these service jobs and zinc time,
and you've got all these you know,

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gen zers or millennials that uh got
through COVID. It got used to spending

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more money, having a nicer car. They had all these government subsidies and

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and you know COVID payments. They're
used to using their their government money.

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And now their credit cards are maxed
out, uh in one point one trillion

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in credit card debt and growing.
Uh when does all that end? I've

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heard of statistic that there's about another
three to four trillion dollars available on most

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Middle America's credit cards. But at
what point do the credit card company say,

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you know what, if you're a
little buying on your credit card,

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pays are well cutting back your credit
card credit limits. So when does that

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bowl issue of credit card debt start
to uh, you know, bite the

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middle American so that you know there
be in bankruptcy situations. So and that

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doesn't even measure the seven hundred billion
dollars that's out there and revolving debt,

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the phantom debt, the buy now
and they later types of debt that that

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are out there that's not even included
in that. So feed mole are are

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had gotten used to this cushy lifestyle, spending money buying their their Amazon toys

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every day. Uh and uh you
know when does that all got to come

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crashing down around us? Yeah?
Well, I'm on the buy now,

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pay never planol cool. So you
think that's a sound strategy and absolutely a

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solve strategy. You let them,
you know what, they'll never buy in

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Gary, They'll not I'm hoping.
I'm hoping if I'm in the age at

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someplace, what are they going to
do? Now? But right, I've

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never stuck anyone before in my life, and I'm not about to now.

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But it's damn tempting, isn't it. Yeah, damn damn dumpting. You

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got that right? Yeah? All
right, So look for dividends, look

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for yield, no bonds. Right, Well, we're buying bond, we're

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buying bond, but obviously there's not
a lot of comfort buying our debt right

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now. But the people that we
have in bonds right now, the durations

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that we have intermediate durations. Certainly
in shorter durations are doing pretty well.

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But things that that can generate the
income that's reliable and predictable, that's kind

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of my world. That's what we
say. Okay, I like it all

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right, David, appreciate you coming
on. It's how thank you, Harry,

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00:12:24,960 --> 00:12:28,799
not what summer is coming? Hey, just tell us again where we

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00:12:28,879 --> 00:12:31,360
find you, how we connect with
you on the web, well other you

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00:12:31,399 --> 00:12:35,480
can go to two place, the
right financial Group that's right with a W

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00:12:37,480 --> 00:12:43,279
Financialgroup dot com or my book Bonfire
of the Sanities b O N F I

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00:12:43,679 --> 00:12:48,759
R E of Thesanities dot dot com. Need a place. We always appreciate

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00:12:48,840 --> 00:12:54,639
your you're boxed and David and your
words and the link will be in the

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00:12:54,679 --> 00:12:58,600
show notes for this interview on Financial
Survival Network dot com. And while you're

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00:12:58,639 --> 00:13:03,600
there, please sign up for your
free newsletter David always a pleasure. Thanks

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00:13:03,639 --> 00:13:07,799
for coming on. Take here,
Barry, thanks for listening to Carrie Letz's

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00:13:07,919 --> 00:13:13,519
Financial Survival Network, your solution to
today's trying times. For the latest,

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00:13:13,639 --> 00:13:20,240
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