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Speaker 1: You know, a statistical air would be like two or

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three percent. This is more like missing it by twenty

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five percent. In my opinion, I think that that's fraudulent

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given the fact that we are in an election year

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and we find ourselves having rallied to new all time

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highs as a result of you know, these false reads

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that we've been consistently getting from the government numbers here,

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so the only thing consistent about them is revisions that follow.

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Speaker 2: You are listening to Carrie.

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Speaker 3: Let'sa's Financial Survival Network where you get valuable information you

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just can't find anywhere else to thrive in today's trying times.

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You need the Financial Survival Network now more than ever.

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Go to Financial Survivalnetwork dot com and get your free

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newsletter and gift. Financial Survival Network now more than ever.

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Speaker 4: Welcome you are listening to and watching the Financial Survivor Network.

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I'm your host, Carrie Lutz. Well, hey, we got some

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rate cuts coming because it seems like they made a

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little mistake at the Bureau of Labor Statistics and they're

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only off by eight hundred and eighteen thousand jobs. You know,

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the more cynical among us, David would say that they

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were patting the job numbers, and the less cynecal would say,

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oh gee, stuff happens, right.

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Speaker 1: Yeah, Well, you know, a statistical air would be like

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two or three percent. This is more like missing it

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by twenty five percent. In my opinion, I think that

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that's fraudulent, given the fact that we are in an

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election year and we find ourselves having rallied to new

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all time highs as a result of you know, these

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false reads that we've been consistently getting from the government

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numbers here, So the only thing consistent about them is

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revisions that.

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Speaker 2: Follow Why would they do such a thing.

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Speaker 1: Well, of course, you know, we are in a in

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a very important year and as you look at elections

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and everything else. Uh, they they're obviously trying to keep

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things as peaceful as possible.

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Speaker 2: Uh.

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Speaker 1: And that includes Jerome Pewell not even talking to Congress

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about their print and spend issues. So you know, we're

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still let Jerry's out on that one, I.

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Speaker 4: Guess, And some insider leaked to something or other that

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uh that Powell uh hates Trump and wants to wants well,

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wanted to see Biden get re elected.

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Speaker 5: And then uh, now I guess he's all in for Kamala. Right, Yeah,

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I guess that's the uh, that's the that's the narrative

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going around right now, you know. And it's such a

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challenging thing because of course the FED Commissioner supposed to

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be politically neutral, meaning that they're not supposed to be

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doing things for those who are getting elect did what

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he has misstated though, and I think it's important to

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draw this emphasis, is that he's misstated that him not

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talking to Congress is being a political Well, actually, you're

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supposed to talk to Congress, mister Powell. That is your

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job to.

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Speaker 1: Let them know that your economics are being messed up

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by their economic policies and the print and spend and

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everything that's going on. Milton Freeman showed us that it

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is literally the cause of inflation is this print and

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spend politics. So part of what I want to share

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with you here today is that I do not think

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inflations under control.

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Speaker 2: I think it's going to be going in checked out

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of control.

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Speaker 1: And this next Fed the rate cut is about to

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just spiral things in a big way.

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Speaker 4: All right, So how much are they going to cut,

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when are they going to cut? And how good is

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that for the stock market? Because that's all they care about.

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Speaker 1: Nailed it well first addressing when are they going to cut?

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How much are they going to cut? The big thing

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that the set has been concerned about is rate cuts,

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and the reason for that is that in the late

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seventies they cut too early and this led to you know,

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we saw the recession and then inflation came back, and

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then Arthur Burns had to show up and really just

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had to stomp that thing down. So I think about

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inflation kind of like as a as a fire. Okay,

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right now, we've got smoldering ashes. But you know, you

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and I could be camping, go to sleep, and then

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wake up in the morning, start kicking around some of

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those those ashes, and put some new timber on there.

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It's going to light right back up again. Inflation is

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a smoldering thing. Arthur Burns had to stomp this thing out.

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Jerome pal has not stomped this thing out. He has

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not gone to extreme levels. And in fact, the data

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is even leading us to say that things are getting

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a lot weaker right now, which is not really a

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great way to actually be cutting.

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Speaker 2: So how much will they be cutting?

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Speaker 1: I think that the FED has to stay higher for longer,

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and so I think that they're not going to be

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cutting more than twenty five basis points. I mean, you

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might see a fifty here right off the bat or

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at a point in time where things where the data

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gets work. But a couple things to understand with this,

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and that is number one, when they cut, this is

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actually going.

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Speaker 2: To make the US dollar weaker.

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Speaker 1: Okay, and so if we're talking about inflation, that's an

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inflationary idea. Why because it's going to take more US

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dollars to buy the same amount of goods and services,

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et cetera as.

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Speaker 2: We did before.

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Speaker 1: And so and so this is a really important point

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to make because you know, really when when when we

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started hiking rate, that made the US dollar twenty five

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percent stronger than where it was before. That's actually a

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big reason why we went from nine percent inflation down

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to the lower places where we are today. It's because

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the US dollar got stronger. We're about to do the

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exact opposite thing to the dollar. As my first point

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here in noting that.

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Speaker 4: Yeah, interestingly enough, you know the dollar has been getting weaker.

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I haven't looked at it today, but I will look

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at it now. It was down to right around one

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hundred yesterday. That was up from one eight and you know,

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up from the teens last year. Now, according to a

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psycho analyst guy who is a regular guest on the show,

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and you can take this for what it's worth, he

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says that a weaker dollar generally portends a Republican being elected,

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and a stronger dollar portends a Democrat being elected.

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Speaker 1: What do you think about that, Well, I think politically speaking,

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the Republican Party is the party at least right now

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that is for sure coming up with ideas about how

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to get us out of this, you know. So one

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of the things that we need to understand is that

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how do we get out of it is going to

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be supply side economics. AI is going to be really

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low cost supply side economics, but at the cost of

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everyone else's job or many jobs anyway, millions at the

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same time. So when when you talk about deregulation or

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rest less regulation, when you talk about you know, getting

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a more balanced type of a system and approach different

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stimulative type of policy, you know, those are the key

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things here. So the Demots are ultimately looking at raising

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taxes and buying boats right now, and that is a

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crazy crazy platform to me running on.

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Speaker 4: All right, So, speaking of AI, I just said, I'm

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going to solve the budget problem. I'm going to have

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chat GPT do a line by line analysis of the

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twenty twenty five budget and cut out three point two

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trillion dollars from the budget. And wow, the first thing

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it did was they wanted to raise taxes. It didn't

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care about cutting anything. So it sounds like reminiscent of

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some of our members of Congress there So then I said,

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under no circumstances can you raise taxes. It al must

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come from spending. And you know it found three point

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two trillion. I mean, listen to this, like defense reductions

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eight hundred billion over the next decade, corporate welfare cuts

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hundred billion, and you could do a lot more than that, really,

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because it's three hundred and fifty billion a year. Healthcare

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spending cuts seven hundred billion, And that's not cutting back

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on anyone's healthcare somewhat. It's like cutting back on Medicare

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advantage over payments. All right, it's one hundred and fifty billion,

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Negotiating drug prices two hundred and fifty billion, Medicaid eligibility

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reform two hundred billion, and preventive care programs, expanding them

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like RFK Junior make America Healthy Again one hundred billion.

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Speaker 2: I think it could be far more than that. And

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then getting rid of a.

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Speaker 4: Ten percent of the federal workforce, which no one would

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even notice. One hundred and fifty billion, two hundred billion

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agency consolidation. So anyway, we go on and on. They

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want to raise the retirement aged seventy. I'm kind of

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opposed to that, but I understand it's got to come someplace.

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So I said, find at least one hundred agencies that

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could be erased put out of business, you know, and

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I got to find it now.

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Speaker 2: I wanted to get these are fascinating.

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Speaker 4: The F thirty five Joint Strike Fighter program. Okay, So

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I mean, here's one guy sitting in his in his office,

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and I did more to control the deficit with one

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query than the Congress has done in the past twenty years.

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Speaker 1: Here, David, well, you know, it's it's not rocket science,

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but I guess AI can figure it out about thirty

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two seconds. Yeah, you know, here as far as at

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least some ideas, and then that gets the discussion conversation going.

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Speaker 2: Here.

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Speaker 1: Yeah, you know, there's a lot of things that we

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need to be figuring out. If you look at the

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actual expenses for Medicare and Social Security, that's exceeding sixty

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percent of the entire federal budget, the amount of money

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that's coming in from AX receipts, and so we're just

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at the pinnacle year right now. Twenty twenty four is

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a year where the most baby boomers reach age sixty

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five and enter into retirement. And so why is that important? Well,

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the system's already expensive, it's already swelling, and we've got

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the biggest group going in right now. It's like fourteen

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four hundred a day right now. So you know, there's

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definitely going to need to be some changes, and I

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think that we need to encourage our political leaders to

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have the conversations this is these are the things that

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we actually want because our future depends on this. I mean,

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I have five young kids that are you know, going

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to be growing up, likely in a world very different

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than the world that I knew growing up. Just given

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the significance of deficit spending that's going on. I think

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that we've added about twelve trillion dollars here in the

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last four years, so you know, it took us two

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hundred and thirty years to get in the first you know,

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eleven trillion. We just put on twelve here in the

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last four So this is a runaway time that.

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Speaker 2: I do not just stop in anytime.

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Speaker 4: Soone, all right, so listen to what we can get

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rid of the Department of Education, Department of Energy, Department

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of Commerce, and so then we won't have to worry

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about those job numbers being askew because they're responsible for it.

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The Department of Housing and Urban Development. Just give the

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money to state governments and let them handle it. National

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Endowments for the Arts, the Humanities Corporation for Public Broadcasting,

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privatize it, xmbank, which is just corporate welfare. The Appalachian

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Regional Commission. Listen to some of these, the Denali Commission,

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the FCC, probably get rid of that. The Federal Maritime

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Commission officed a thrift supervision, the US International Development Finance Corporate.

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I mean it goes on and on here. Some of

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these I didn't even know existed, Like yeah, it's just like, hey,

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they're saying, get rid of the Bureau of Alcohol, Tobacco

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and Firearms consolidated.

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Speaker 2: With the FBI.

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Speaker 4: I mean you know, it's it's craziness here, the Rural

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Utilities Service, and then you know, I just it didn't

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give the savings this time. The US Institute for Peace,

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they're doing a really rotten job.

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Speaker 2: Let's get rid of them.

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Speaker 4: The Commission on International Religious Freedom, the US Chemical Safety Board,

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the State Justice Institute, you know, all these insane company

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agencies here that do absolutely nothing for us.

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Speaker 1: And yet you know what's amazing is there's more people

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right now that are courting our congress members for you know,

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these these these backdoor deals, this port barrel spending, all

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these extra little things that are added to every single

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bill essentially that's coming through, and we just get this

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extremely bloated government. So, you know, I don't think it's

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a bad idea for people to be asking questions like this.

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In fact, I would say, if there's a silencing voice

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that's trying to say, don't even talk about stuff like that,

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we might actually think to ourselves, is this a voice

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that's trying to control me? Are they actually trying to

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consider give me to independently conductor? What's going on right now?

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Are they just trying to get me to comply? So

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that's a you know good little, good little exercise. It

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kind of fun to see all the different things that

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are going on there.

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Speaker 4: Here's what was zille. You never knew about the Office

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of Navajo and Hope, Indian Relocation. They blow through fifteen

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million a year. The Office of Federal Contract Compliance Programs

246
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one hundred and five million. You know, Yeah, it just

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goes on and on and on and on here. It's

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unbelievable that all these agencies that really do absolutely nothing

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right well.

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Speaker 1: Right, and so to your point, you know, all this

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is inflationary. This costs the taxpayer money, right, and so

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the taxpayers are here on the hook, and of course

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they don't even stick to a normal budget. They blow

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their budget easily every single year. No problem. By the way,

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that is literally taxing us. It's just the tax of

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least resistance because it's inflating our dollars. And we're going

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to be finding ourselves in a very challenging time here

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with those rate cuts that are going to be coming.

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But just to kind of get back to these couple

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of points, the second way that inflation happens with these

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rate cuts is that, yes, it's going to have a

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melt up in the prices of our stocks in our

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real estate and so you get lower rates.

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Speaker 2: Of course, that's going to be better for tech stocks.

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Speaker 1: Through the roof, it's going to be better for real

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estates already at all time eyes right now. And you know,

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here's the deal, we're also cutting right now while we're

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at all time eyes. Statistically, we have had a recession

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one hundred percent of the time when we have specifically

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done that. But this is going to cause the price

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of everything to go high. Of course, that's inflationary. And

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if you look at this melt up melt down concept,

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Japan actually did this in the in the eighties, and

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the Nike their their exchange actually didn't just hit a

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high until you know, earlier this year. It was almost

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forty years to get back up to a high. So

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we might be finding ourselves in a melt up moment

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that we may not get back to for potentially decades

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of times as this goes on.

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Speaker 2: Yeah, you're right.

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Speaker 4: Talk about real estate, the housing, the builders, the home

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builders have record highs, you know, right, all time record highs.

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Speaker 2: What does that tell you? It tells me.

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Speaker 1: That they're giving incentives for the new home that the

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person that's selling their home that's already existed cannot get

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and so you know, these these are timeframes right now

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that numbers are not operating the same way as they

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used to, and in fact, I think it's going to

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continue to progress and get worse, because my point three

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is that the Japanese carry trade is actually going to

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be getting worse and it's going to be unwinding a

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lot of the leverage globally that we've seen. So what

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is the Japanese carry trade? Basically seven point thirty one?

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Japan raise rates a quarter point. Now, that's nothing, that

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was the smallest rays of them just did, but that

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it's a deal for a society for twenty years that

297
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hasn't raised really at all. And so what happened is

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they had to come to the rescue. It's hundreds of

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billions of dollars to stabilize their market. Well, what's going

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to take place right now is that as the United

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States is cutting rates, that's going to make our dollar weeker,

302
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while Japan's raising rates that makes their dollars stronger, that

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makes their carry trade worse, meaning the amount of money

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that was borrowed does not go as far in the

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thing that's now being leveraged against like US treasury, US stocks,

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et cetera. So I expect a lot more volatility as

307
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the year continues to to unfold because of people unwinding

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these trades and the reality that this cutting FED is

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going to make this far worse for Japan. And I

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looked up a statistic this morning. There are four hundred

311
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or sorry, four point five to two trillion dollars invested

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by the Japanese people and this is these are not

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not the government, and more than half of that is

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by the people is in long dated debt, literally intra

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sensitive debt that's going to potentially need to be unwound

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as this carry trade continues to get worse because the

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US dropping rates, I think that Japan could literally unwind

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the entire global economy if we're not too careful here,

319
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because we are literally all tethered together climbing this mountain.

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If one falls, we got to put our ice pits

321
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in and stop this thing from going backwards.

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Speaker 2: It's it's getting close, ay, you.

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Speaker 4: Know, the only kick the can down the road so

324
00:18:02,839 --> 00:18:05,039
far until you want run out of road, right.

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Speaker 1: Exactly exactly. Speaking of running out of road, my fourth

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00:18:11,240 --> 00:18:13,599
point is is that you know, the world's now running

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from federal treasuries in other words, IOUs on US dollars

328
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to more safe, avent type of ideas right now. So

329
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we're seeing a broadening in the market. We're seeing gold

330
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obviously go above twenty five hundred stay above twenty five hundred.

331
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Silver's made a massive move. I expect silver, by the way,

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to continue to ride here and surpassed gold as a

333
00:18:35,960 --> 00:18:39,599
finished year out. But the central Bank has big dilemmas

334
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right now because you're trying to figure out how to

335
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preserve value today with the day's money in order to

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buy tomorrow's goods. And so what they're having to do

337
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is buy gold and silver because that's the only thing

338
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that's going to keep up its value relative to commodities

339
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to electrify, etc.

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Speaker 4: You got it, and the coppers back over for bucks.

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Speaker 2: Yep.

342
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Speaker 1: You.

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Speaker 4: Oil has been holding up pretty good, even if the

344
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demand is it's impossible to really gauge demand because global market.

345
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You know, people are driving more here, they're driving less

346
00:19:13,640 --> 00:19:16,480
there as you really don't know, but exceon I think

347
00:19:16,559 --> 00:19:20,319
put out a projection that the amount of petroleum used

348
00:19:20,359 --> 00:19:23,640
is going to stay constant for the next twenty five years.

349
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Speaker 2: Oh yeah, well, what's all the where's all the electrification?

350
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How can this be?

351
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Speaker 1: Can't be electrifications changing, It has to change. I think

352
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more we're going to be seeing more of a hybrid type.

353
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Speaker 2: Of an engine model.

354
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Speaker 1: I think Toyota has a really really good prototype that's

355
00:19:39,839 --> 00:19:43,119
coming out right now. But no question, we are petroleum based.

356
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We're going to continue to be, and that's a good

357
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thing for the United States. And if President Trump gets

358
00:19:47,799 --> 00:19:50,519
back in, drill, baby, drill is what he continues to say.

359
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And you know, the United States does it cleaner and

360
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safer than anyone else in the world, not cheaper, the

361
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cleaner and safer in the United States. We value those

362
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two ideas, and the United States more oil than anybody

363
00:20:01,160 --> 00:20:04,599
else right now. So that is a very deflationary idea

364
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if we can produce more supply and also takes some

365
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of the strength away from Russia and Saudi Arabia, who

366
00:20:11,079 --> 00:20:15,000
are in lockstep as number two and three oil producers

367
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in competition with US here. And so of course Russia

368
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can't wage war unless oil traces remain elevated. So there's

369
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a number of things that we can do in the

370
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United States if we so chose.

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Speaker 4: To do them, and don't forget that gas. We have

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more that gas than any buts in the world, to

373
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the point where some of it even still to this

374
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day gets flared off on the fields.

375
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Speaker 2: Literally when you see.

376
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Speaker 4: Those giant flames when you're going by a field that's

377
00:20:40,599 --> 00:20:44,640
flaring because it got too much gas and there's no pipelines.

378
00:20:44,680 --> 00:20:47,200
Speaker 2: You can't build pipelines, not gas.

379
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Speaker 4: You'd think they'd be pushing that because everybody should have

380
00:20:50,440 --> 00:20:54,559
that gas. And you've got these crazy states banning gas stoves,

381
00:20:54,599 --> 00:21:00,720
banning natural gas, pipelines, hookups, all this. Yeah, so hey,

382
00:21:00,799 --> 00:21:05,440
we're seeing that happen. We're seeing the central banks buying gold.

383
00:21:06,680 --> 00:21:08,680
You know, how much longer can it go on?

384
00:21:09,119 --> 00:21:09,720
Speaker 2: Good question?

385
00:21:10,480 --> 00:21:12,559
Speaker 1: As I'm looking forward here again, I think that we're

386
00:21:12,559 --> 00:21:15,000
going to have a much choppier end of the year

387
00:21:15,720 --> 00:21:18,599
as we move into twenty five. You know, there's a

388
00:21:18,720 --> 00:21:21,240
number of ways to really juice the market. I think

389
00:21:21,240 --> 00:21:23,720
that we're going to see the statistics start to fall

390
00:21:23,759 --> 00:21:27,000
apart and interventions have to start coming in. And so

391
00:21:27,039 --> 00:21:29,279
there's a gauntlet ahead of us as we head into

392
00:21:29,319 --> 00:21:31,640
this election. I mean, we've got COVID two point zero

393
00:21:31,640 --> 00:21:35,519
that's likely to come we've got, you know, Kamala and

394
00:21:35,559 --> 00:21:37,759
Trump are going to start debating. I mean, Kamala has

395
00:21:37,799 --> 00:21:41,359
now had about three weeks of a facelift to her profile,

396
00:21:41,480 --> 00:21:44,079
and even though she's never won a single primary vote,

397
00:21:44,119 --> 00:21:44,839
she's never even.

398
00:21:44,720 --> 00:21:45,519
Speaker 2: Made it to Iowa.

399
00:21:46,359 --> 00:21:49,559
Speaker 1: She didn't even make it past the first round last primary.

400
00:21:50,240 --> 00:21:53,799
She's the horse that's running here. And so, you know,

401
00:21:53,880 --> 00:21:56,599
I think that this is a gift to the Republican

402
00:21:56,640 --> 00:22:00,839
Party candidly, because as the president goes, that's likely to

403
00:22:00,839 --> 00:22:02,400
be the way that the House goes. I think the

404
00:22:02,440 --> 00:22:05,640
Congress you could actually see a sweep here coming at

405
00:22:05,640 --> 00:22:07,319
the end of the year. And that's, of course, if

406
00:22:07,319 --> 00:22:09,720
elections remain normal, we don't get into World War three,

407
00:22:09,960 --> 00:22:13,400
all these crazy geopolitical events erupt all over the world.

408
00:22:13,799 --> 00:22:19,680
Speaker 4: So it's anyone's guess. But but when we're looking looking

409
00:22:19,720 --> 00:22:21,680
at this, do you think the market's got it baked

410
00:22:21,680 --> 00:22:23,640
in the cake that Trump is going to win.

411
00:22:24,039 --> 00:22:26,359
Speaker 1: I do think that the market is expecting that Trump

412
00:22:26,400 --> 00:22:28,680
is going to win, which is going to be positive,

413
00:22:28,720 --> 00:22:30,200
and I think the sentiment of that is going to

414
00:22:30,200 --> 00:22:34,640
continue as we move forward here into September. You know,

415
00:22:34,680 --> 00:22:37,640
we're looking for leadership change, I think everyone's recognizing that

416
00:22:38,200 --> 00:22:41,640
Kamala was the most unliked vice president that we've ever had,

417
00:22:41,680 --> 00:22:44,279
I think, and at least as far as the pollings

418
00:22:44,359 --> 00:22:47,200
go back. And so I do not believe that she's

419
00:22:47,240 --> 00:22:50,319
going to be able to turn this thing and get it.

420
00:22:50,359 --> 00:22:54,559
So Trump has the lead. He's got the RNC that

421
00:22:54,640 --> 00:22:57,519
looks more united than I guess anytime I've ever seen it.

422
00:22:57,599 --> 00:23:00,759
So looking at the differences and messaging between kind of

423
00:23:00,759 --> 00:23:03,960
the DNC, which was really about hate and against and

424
00:23:04,000 --> 00:23:07,000
against and against that telling us necessarily what they're for

425
00:23:07,400 --> 00:23:09,559
or how they're going to do something. I think that

426
00:23:09,640 --> 00:23:11,480
America is going to look past all that. They're going

427
00:23:11,519 --> 00:23:14,480
to recognize that we've got one way forward right now.

428
00:23:15,119 --> 00:23:18,000
And this is a time when it is not a

429
00:23:18,039 --> 00:23:21,039
moment to be complacent. This is a game on need

430
00:23:21,079 --> 00:23:23,799
to make some things happen. We need somebody in there

431
00:23:23,839 --> 00:23:26,759
that has a business mind and has the ability to

432
00:23:26,839 --> 00:23:29,599
not just try to get votes, which you know, of course,

433
00:23:29,640 --> 00:23:31,480
no one's even running our government right now, they're just

434
00:23:31,599 --> 00:23:32,599
running for politics.

435
00:23:34,079 --> 00:23:37,559
Speaker 2: We need people that are you know, burying the line

436
00:23:38,200 --> 00:23:39,559
and and a standard here.

437
00:23:39,599 --> 00:23:43,559
Speaker 1: So I think that I think the market will price

438
00:23:43,640 --> 00:23:46,359
that in and we will ultimately see that, but it

439
00:23:46,400 --> 00:23:46,799
could be.

440
00:23:46,720 --> 00:23:49,480
Speaker 2: A crazy, crazy uh rest of the year.

441
00:23:50,039 --> 00:23:55,640
Speaker 4: M all right, so uh yeah, it's it's definitely going

442
00:23:55,680 --> 00:23:55,839
to be.

443
00:23:56,200 --> 00:23:56,319
Speaker 5: Uh.

444
00:23:56,799 --> 00:23:59,920
Speaker 4: I mean, like, we don't get into politics here because

445
00:24:00,240 --> 00:24:03,400
it is a family, you know, a show after all. Well,

446
00:24:04,119 --> 00:24:08,799
you know, this is the most insane election that I

447
00:24:08,920 --> 00:24:12,160
have ever seen in a in every way.

448
00:24:12,759 --> 00:24:15,200
Speaker 1: So Jerry, the way I like to say it is,

449
00:24:15,640 --> 00:24:19,160
you know, when political science affects my science with his economics,

450
00:24:19,240 --> 00:24:21,680
I should have an answer. And so we need to

451
00:24:21,759 --> 00:24:25,559
understand how two different ideas can mesh together and how

452
00:24:25,559 --> 00:24:29,039
they affect each other. And they really are one one

453
00:24:29,640 --> 00:24:32,160
right now. There's just you know, so closely aligned because

454
00:24:32,200 --> 00:24:33,920
of how the Fed's being run, because of all the

455
00:24:33,920 --> 00:24:36,440
pressures that are put on all these different things and

456
00:24:36,440 --> 00:24:40,079
where things are going. So the American people need to

457
00:24:40,079 --> 00:24:40,839
get informed.

458
00:24:41,200 --> 00:24:41,880
Speaker 2: They need to.

459
00:24:42,160 --> 00:24:45,839
Speaker 1: Continue to read and not just take a bunch of opinions.

460
00:24:45,839 --> 00:24:47,960
That's the hard part is that you know, depending on

461
00:24:48,000 --> 00:24:50,119
the channels that you look at and watch, you know,

462
00:24:50,160 --> 00:24:53,720
there's so many negative opinions about everything that's going on

463
00:24:53,839 --> 00:24:56,759
out there. And here's my point. I think that this

464
00:24:56,880 --> 00:24:58,960
is really important to understand. But let's figure out the

465
00:24:58,960 --> 00:25:00,960
things that we can do that are going to position

466
00:25:01,079 --> 00:25:03,240
us for the future. Those things that we can do,

467
00:25:03,440 --> 00:25:05,759
we can get the right risk of versification, the right

468
00:25:05,839 --> 00:25:07,839
strategies in place right now that are going to really

469
00:25:07,880 --> 00:25:10,960
benefit us as the economy changes and things turn. And

470
00:25:11,000 --> 00:25:15,400
then also tax diversification is massive because when inflation goes up,

471
00:25:16,039 --> 00:25:18,920
when this debt and deficit continues to rise, they're going

472
00:25:18,960 --> 00:25:19,920
to have to tax us.

473
00:25:20,000 --> 00:25:21,200
Speaker 2: I'm a radical about this.

474
00:25:22,240 --> 00:25:24,319
Speaker 1: More than one third of America's wealth as in baby,

475
00:25:24,319 --> 00:25:26,519
when we're score one case and I raised, they have

476
00:25:26,599 --> 00:25:27,799
not paid a penny in tax.

477
00:25:27,880 --> 00:25:30,279
Speaker 2: Yet many do not have an answer. They don't know.

478
00:25:30,839 --> 00:25:33,920
Speaker 1: And you know, for better or worse, how they plan

479
00:25:34,000 --> 00:25:36,160
their future today is what they're going to get tomorrow.

480
00:25:38,559 --> 00:25:40,519
Speaker 2: Yeah, whether you like it or not, you're going to

481
00:25:40,599 --> 00:25:40,880
get it.

482
00:25:41,599 --> 00:25:47,079
Speaker 4: Yep, that's right, all right, So be prepared like a

483
00:25:47,119 --> 00:25:50,319
good boy, scoff. And that's what you need.

484
00:25:50,200 --> 00:25:52,839
Speaker 1: To do, right, Yeah, absolutely, you know you need to

485
00:25:52,839 --> 00:25:55,519
have a parachute before you before you get on the plane, right. So,

486
00:25:56,839 --> 00:25:58,279
you know, I think it's important for people to be

487
00:25:58,279 --> 00:26:01,920
paying attention right now to to where they are. You know,

488
00:26:02,079 --> 00:26:05,000
it's it's kind of like most of the economic data

489
00:26:05,039 --> 00:26:07,200
careas we've talked about in the past, is looking through.

490
00:26:07,039 --> 00:26:07,920
Speaker 2: The rearview mirror.

491
00:26:08,319 --> 00:26:11,400
Speaker 1: Rearview mirror driving does not work out well. We need

492
00:26:11,440 --> 00:26:14,440
to be windshield present, and so I think it's important

493
00:26:14,440 --> 00:26:19,359
to look at leading economic indicators where we're going manufacturing, unemployment.

494
00:26:19,599 --> 00:26:23,319
We just talked about that trend. These are very important ideas.

495
00:26:23,359 --> 00:26:25,920
People need to be paying attention because these statistics could

496
00:26:25,920 --> 00:26:29,759
fall apart really fast and cause tremendous heartburns for the

497
00:26:29,759 --> 00:26:32,960
market and investors that are entering or near in retirement

498
00:26:33,039 --> 00:26:33,440
right now.

499
00:26:34,039 --> 00:26:37,680
Speaker 4: Hey, one thing I want to cover. It's not financially related,

500
00:26:38,319 --> 00:26:44,839
but to me, the biggest shocker of this election, okay,

501
00:26:46,440 --> 00:26:52,200
of RFK Junior getting into it, make America healthy again.

502
00:26:52,799 --> 00:26:53,759
Speaker 2: You know that.

503
00:26:54,640 --> 00:26:58,680
Speaker 4: It just amazed me to hear that, because it's so

504
00:26:58,880 --> 00:27:04,640
obvious wood supply has turned into poison and and lots

505
00:27:04,640 --> 00:27:08,960
of bad stuff there. And the health of our children.

506
00:27:09,039 --> 00:27:11,880
You say, you have young kids. Uh, this is the

507
00:27:11,960 --> 00:27:15,920
kind of thing you should really be, uh be concerned about.

508
00:27:16,160 --> 00:27:16,359
You know.

509
00:27:17,200 --> 00:27:18,519
Speaker 2: Yeah, my wife was.

510
00:27:18,599 --> 00:27:21,279
Speaker 1: We were just in Europe and my wife has a

511
00:27:21,319 --> 00:27:22,759
little bit of a gluten sensitivity.

512
00:27:22,880 --> 00:27:23,720
Speaker 2: She ate the bread.

513
00:27:23,880 --> 00:27:26,720
Speaker 1: No problem one is whatever she's going home right now

514
00:27:26,759 --> 00:27:28,680
and she's like, I gotta find the right wheat berries

515
00:27:28,720 --> 00:27:30,559
and to be able to make my own bread because

516
00:27:30,759 --> 00:27:35,359
this was soodmo non jamo and so uh No, there's

517
00:27:35,400 --> 00:27:37,720
no question that that that we have a lot of

518
00:27:38,240 --> 00:27:40,079
things right now that I think that we need to assess.

519
00:27:40,559 --> 00:27:46,119
And uh uh so why are we not having those conversations. Well,

520
00:27:46,200 --> 00:27:48,440
I just think that there's a lot of other priorities

521
00:27:49,000 --> 00:27:52,599
that we the people haven't necessarily mandated, uh that that

522
00:27:52,640 --> 00:27:55,559
people be talking about. So uh, let's just pray that

523
00:27:55,640 --> 00:27:58,680
politicians will understand who they represent.

524
00:27:59,240 --> 00:27:59,559
Speaker 2: Uh.

525
00:28:00,039 --> 00:28:04,000
Speaker 1: Let's hope that right now that you know, the people

526
00:28:04,000 --> 00:28:06,079
of the United States can step up and say, you know,

527
00:28:07,039 --> 00:28:10,079
this is this is our nation. After all, this thing

528
00:28:10,200 --> 00:28:13,960
is not going the direction that we're looking for. And

529
00:28:14,599 --> 00:28:18,119
it is very concerning to see all these things like immigration.

530
00:28:18,160 --> 00:28:21,720
I mean, last point, Carrie, you know we were told this.

531
00:28:22,000 --> 00:28:24,359
You know, the government statistics on unemployment were so accurate.

532
00:28:24,359 --> 00:28:27,000
What else are they lying about? Oh, the border's safe

533
00:28:27,039 --> 00:28:31,519
and secure, Oh about it, a soft landings coming anytime soon?

534
00:28:31,880 --> 00:28:36,359
Inflations that I mean, these are huge, huge, huge statements

535
00:28:36,359 --> 00:28:39,319
that I believe next twelve months, we are going to

536
00:28:39,359 --> 00:28:42,440
see completely deteriorate, move backward, and we're going to say,

537
00:28:42,599 --> 00:28:44,000
holy smokes, what do we do now?

538
00:28:44,240 --> 00:28:44,480
Speaker 2: Yeah?

539
00:28:44,519 --> 00:28:50,440
Speaker 4: Well, hey, to me, like making nutrition and health number

540
00:28:50,440 --> 00:28:55,240
one issue, because twenty percent of our GDP goes to

541
00:28:55,480 --> 00:28:58,400
trying to patch people up after they've destroyed their body.

542
00:28:58,400 --> 00:29:04,240
It's true, And eighty percent of all expenditures take place

543
00:29:04,920 --> 00:29:09,799
with her what are called the lifestyle diseases. When it's smoking,

544
00:29:10,359 --> 00:29:15,640
it's obesity, it's uh, you know, high stress. People don't

545
00:29:15,640 --> 00:29:20,559
all these things. And to make that an election issue

546
00:29:20,920 --> 00:29:24,799
and take on big pharma and big ag and and

547
00:29:25,000 --> 00:29:28,160
all of that, you know, he's done something amazing here.

548
00:29:28,240 --> 00:29:31,880
I personally despise the guy for a variety of personal

549
00:29:31,920 --> 00:29:34,720
reasons I won't go into. I knew him from New York,

550
00:29:35,119 --> 00:29:37,680
but while doing this pretty amazing.

551
00:29:37,880 --> 00:29:39,480
Speaker 1: Yeah, I think he's probably going to get a spot

552
00:29:39,480 --> 00:29:41,400
in Trump's cabinet as a result of it. And that

553
00:29:41,480 --> 00:29:45,119
shows Trump's bipartisan nature and wanting to work across the aisle.

554
00:29:45,279 --> 00:29:48,279
And I think R probably represents more along the line

555
00:29:48,359 --> 00:29:52,079
what traditional liberals were. I mean, this is Bobby Flippin' Kennedy.

556
00:29:52,119 --> 00:29:54,799
After all, the guy's got the name, he's got the

557
00:29:54,880 --> 00:29:57,599
D and I guess it would you know, the Independent,

558
00:29:57,640 --> 00:30:01,160
But he had it all and the party has changed

559
00:30:01,240 --> 00:30:04,680
and it has gone a different rest direction. I like

560
00:30:04,759 --> 00:30:07,960
to say this election is balloon no matter who or

561
00:30:08,039 --> 00:30:10,519
red Tell him Dad, those are the two opinions.

562
00:30:11,039 --> 00:30:15,000
Speaker 4: Yeah, well somewhere, But you know, I think things are changing.

563
00:30:15,039 --> 00:30:20,920
The political realignment's taking place where we realize existential issues

564
00:30:20,960 --> 00:30:24,559
trump everything else, no pun intended. And I think that's

565
00:30:24,599 --> 00:30:26,920
what we're going to see. David, just tell us how

566
00:30:26,960 --> 00:30:28,640
do we connect with you? How do we find you

567
00:30:28,799 --> 00:30:29,319
on the web?

568
00:30:29,519 --> 00:30:32,640
Speaker 1: Yeah, hey, Stedbubble dot com is a great way to

569
00:30:33,279 --> 00:30:36,119
get to know me and what's going on. Got some

570
00:30:36,119 --> 00:30:39,279
good information out there, got classes that are coming up

571
00:30:39,759 --> 00:30:43,319
here as the year is ending on Medicare, social Security,

572
00:30:43,400 --> 00:30:47,920
JAX is retirement planning. So that's that's that's kind of

573
00:30:47,920 --> 00:30:51,119
what we got going on right now. And welcome anybody

574
00:30:51,119 --> 00:30:53,279
to get some downloads off our website.

575
00:30:53,359 --> 00:30:55,440
Speaker 4: All right, and you'll find a link in the show

576
00:30:55,480 --> 00:30:59,480
notes to this interview on Financial Survival Network dot com

577
00:30:59,759 --> 00:31:02,880
and just click it take you to David's site. While

578
00:31:02,880 --> 00:31:06,440
you're there, would you please sign up for our free

579
00:31:06,519 --> 00:31:11,400
newsletter got a question for David myself, klatcarrilots dot com.

580
00:31:11,519 --> 00:31:14,440
Speaker 2: Is the email address. Always a pleasure to have you on, David.

581
00:31:14,440 --> 00:31:16,759
We'll talk to you again real soon, Gary Pleasures mind

582
00:31:16,759 --> 00:31:17,359
take Eric talking.

583
00:31:17,440 --> 00:31:21,599
Speaker 3: So thanks for listening to Carrie Letz's Financial Survival Network,

584
00:31:21,799 --> 00:31:25,720
your solution to today's trying times. For the latest, go

585
00:31:25,799 --> 00:31:31,720
to Financial Survivalnetwork dot com. Financial Survival Network now more

586
00:31:31,759 --> 00:31:32,319
than ever,