Speaker 1: Breaking. President Donald Trump has launched.
Speaker 2: A broadside attack against the independence of the Federal Reserve.
I'm Grim Milestone filling in for Todd Herman, joining us
Zach Abraham far right, financial advisor with Bulrick Capital Management.
We'll do this courtesy of Well.
Speaker 1: Herman says God Almighty.
Speaker 3: But Todd Herman show is one disapproved by big pharma
technocrats and tyrants everywhere from the hind mountains of Free America.
Here's the Emerald City exile Todd Herman.
Speaker 4: Today the day the Lord has made, and these are
the times to which God has decided we shall live.
And jumping the gun is Zach Abraham with the intro
of the Grim Miles. So thank you Grim, Zach, I
kick Grim out, Welcome back to the show.
Speaker 5: I you shouldn't kicked Grim out. That was the guy.
Speaker 6: I mean, that's why I'm here today. Well, he's a
broadcasting legend you want to call. I mean, he's right
up Rush you know what I mean, Rush Limbaugh, cron Kite,
and then Grim Miles. That's just right there, you know,
Mount Rushmore, Mount Rushmore Broadcasting.
Speaker 1: This is a true fact. I invented Grim back when
I did morning radio in Seattle and and you know,
fun morning, wacky radio, conservative radio. And I used to
come in to make fun of the national newscasts and COVID.
I'm grim Miles Snell breaking news and I just eat
the mic and step right up. And this lady would
she wrote in and she said, I think it's incredibly
rude that Todd Herman always interrupts Grim Milestone's newscast. She
thought it was real. God bless people. So let me
go ahead, let me go ahead.
Speaker 6: Doing this stuff is really funny. You get the funniest comments.
I got a guy that contacted me on Twitter and
he's like, yeah, you guys shouldn't do your your daily
dots every day too much. What I just said, thank
you for the feedback to like, yeah, people don't. People
do not realize, Like when you put yourself out there
in the public domain, Yeah, you get so many awesome
exchanges and meet so many cool people, you also inevitably
just get the most bizarre exchanges.
Speaker 5: Oh where you look.
Speaker 6: At You look at these people and you're like, okay,
so you have no social skill?
Speaker 5: Uh, right onto the next, right onto the next.
Speaker 1: I got a note and and this this is the
first time I've ever received a note like this, and
it's it's forwarded to me by the program director at
American Family Radio. This guy is concerned that before I
begin my radio show on American Family Radio, and I
start the radio show by saying, when the guy the
universe created the world, so he didn't snap his fingers
at wink as eye, the Lord spoke, he said, let
there be like This guy wrote to the network, the
radio network, and said, I'm very concerned about the words
Todd Hermann speaks before he opens the show, and he's
saying something. Uber Glibson, Glassma, Masma and Jonathan wrote back
and said, thank you for the note, thank you for listening.
I don't think that's what you're hearing. I think that's
him tuning the radio down or the music being turned down.
And the guy wrote back and said, no, I'm very concerned,
and I don't think you're Todd Herman, and I'd like
to talk to him about what he's saying.
Speaker 5: So yeah, yeah, right, it's de luber.
Speaker 1: I'd have to pull it back up, and I don't
want to do that because I feel bad about contacting
the guy because I'm gonna imagine he's probably an elderly
man and he's very concerned. So maybe I should just
call him and go listen, this is between you and me.
You're the only one who knows.
Speaker 5: You can't tell anybody. Yeah, you got to keep that
on love.
Speaker 1: Oh man, we're getting off on a tangent here. But
I'll tell you this is a funny thing. And I
was working in I don't call them stickers, but I
worked in the pressure sensitive lab labels business, so stickers, right.
But we did it for big companies, you know, Dole, etc.
Big companies, beef trikey companies, and it was a big,
big business. And I was in sales and my sales manager, Kirk,
had this woman who was convinced that he was with
the government and was stalking her, and so she was
like really aggressive with him, stay away from me. I
know you're with them, And he knew I was good
at social engineering, so I said, is there anything you
could do? Could I give you her number? So I
called her and I got her on the phone and
identified myself as I was with the CIA, and oh lord,
and I said, listen, listen, I got to talk to you.
You figure some things out, but you're not the target
I'm not No, no, it's your neighbor.
Speaker 3: No.
Speaker 1: In fact, Kurt is designed to his assignment is to
protect you. There are some beings there were watching, but
I need you to act perfectly natural around Kirk, like
nothing's going on, because I promise you're not the target.
There are some beings we're looking. I knew it. I
knew it. So he actually told me like I called
her like on a Friday, and then on Monday he
said that she was walking to her card, he's walking
to his, and she gave him like this knowing nod, like.
Speaker 5: Yeah, wait, good looking out buddy, good looking out right.
Speaker 1: All right, we're going to get into some actual financial
discussion here with Zach in his seconds. Let me run
this by this you're going to find very very funny.
There are people who have contacted me now about Bisible.
You're an investor. You actually made me a learn about
bissible go bisible dot com who went in with utter
arrogance that they have the corporate firewall attached. I just
had another conversation. Is just another email from a guy
sent me a note and said, we've had a business
for eleven years. I've heard you talk about Bisible and
it was kind of laughing that there were business owners
who thought they had the corporate firewall who didn't. I
went and pulled our corporate founding papers. Lo and behold,
my home address, home phone number, and social Security number
appear on it, as well as my EI N. I
assume this means I have no corporate firewall. And now
I am going to go to bisible with egg on
my face. I'm one of the people who went into
this thinking I knew what I didn't know. So we're
seeing this time and time again. And he's another guy
where it's ps it was my tax account who sent
this stuff up. So it's go bisible dot com. They'll
tell you whether you have the corporate firewall or not.
There are people who find out that they didn't when
they thought they did. And here's the good news visible
after they laugh at you. And they do do that,
and that's part of the freest you know, the freedom
obligation consultation. They go, aha, like the Simpsons, you don't
have a corporate but then they'll fix it for you
in seven easy steps. It's go bisible dot com with
the Z go bisible dot com. You want to add
anything to that and just let that go.
Speaker 6: No, I just I'll continue to believe I when you
look at the relatively really low cost of what they're
doing and what it delivers to people. Yeah, it's one
of I mean, I did it even though I paid
for it. Yeah, I own part of the company, but
I paid the same price everybody else does because I
started off.
Speaker 5: You know, I'm not going to buy a business to
go through the process.
Speaker 6: And it was one of those things where when you
look at the benefit, I could not rationalize not spending
that money.
Speaker 5: It was not simple.
Speaker 1: So I used to say, listen to me now or
believe me later.
Speaker 5: You you that's right.
Speaker 1: Remember when the gut one guy Kevin Neeland tore his
arm off in a deadlift and you can no longer.
I'm here to bomp you. That was so good? All right,
let me roll, just no transition here at all, just
cold into the news. So here's the setup that we're
being told President Trump is going to war. This is
the breaking news from the ap I guess grim could
read this. The DOJ issues subpoenas and mortgage fraud claims
against Lisha Cook as Trump moves to a road independence.
APCE sources say So Lisa Cook is on record three
separate times lying about her mortgages. A citizen journalist went
to her primary residence to find renters living there. Trump
fired this lady, saying you can't go out committing mortgage
fraud and be in the FED. And they're seeing this
as an attack on the Federal Reserve's independence. And then
I want to get into this note from this piece
from Scott Descent in the wallstret Journal. But I want
to ask you a serious question. I'm open to all
responses on this. You know that I'm a big creature
from Jeco Island guy. You know I don't like the FEDS.
You know, I think that it's corrupt. Do you think
the FED should have complete independence or do you think
they should have oversights? Do you think they should roll
up under the president? Do you think we should be
auditing things? What do you think?
Speaker 6: I think that the FED should have dependence as it
relates to setting monetary policy. Independence, yes, excuse me, independence
as it sets to me. And the reason why is
if it doesn't, then monetary policy will become purely political.
Speaker 5: And nobody that that's just it's not what you want.
Speaker 6: You just don't now are there going to be times
where it would behoove.
Speaker 5: Us if that was the setup? Sure?
Speaker 6: Right, but just overall, you just you really don't want that,
you know, just take it a face value, you know. Now,
Having said that, I find it completely appropriate that if
you are on the FOMC or a member of the
Federal Reserve Board or Federal Board of Governors or whatever,
that if it is on, how can I trust you
with the monetary policy in this country if you don't
even adhere to mortgage lending standards and you lie on
mortgage applications. Yeah, now, you you may make the allegation
that Trump is taking advantage of that to try to
get and I am sure that if Trump did not
have an axe to grind against the FED regarding monetary policy,
he probably would not have uncovered this.
Speaker 5: But that does not mean that.
Speaker 6: The woman did something that I think disqualifies her from
public service. I like, if I can't And here's what
makes me so irritated.
Speaker 5: About this, Todd. I remember when I bought my.
Speaker 6: First home in two thousand and six, and I remember
sitting there in front of the underwriter for the mortgage
and they go, we can get you this rate if
you will sign and say you make this much money.
And I told her and I said, and remember back
then you could liar loans. Everybody's getting them. And I
looked at her and I go, I will absolutely not
sign that I'm making that much money. I'm not going
to lie on an application for credit. And so people
are like, oh, everybody was doing it. No, not everybody
was doing it right, Not everybody's doing it.
Speaker 5: And if you don't have.
Speaker 6: The if I can't trust you to honestly fill out
a mortgage application, I that you're competent to serve on
the FOMC. But that's think about that, that's nuts. Think
about the Think about the potential corruption that could be
involved there. If this person's going to break the rules
to get an extra tax deduction, you want them setting
monetary policy. More importantly, you want everybody on Wall Street
to know that they set monetary policy and slide an
extra two hundred and fifty grand in their mailbox if
they vote this way.
Speaker 5: And I'm not saying that's happening.
Speaker 6: But what I'm saying is when you have people in
positions like that, they have the ability to conjure money
out of thin air. One little loose oversight that it
might be a good idea to have on said people
is to make sure if they do anything untoward in
their own financial light, they're out.
Speaker 5: So yeah, it's it's an attack on independent.
Speaker 6: No, it's an attack on somebody that doesn't have any
morals or ethics.
Speaker 5: That's what it is. Okay.
Speaker 6: So if at the end of the day, if the
woman played by the rules, we wouldn't be having this conversation, right, right.
Speaker 1: And so this goes into me then to what is oversight.
So there's independence on policy. Okay, you set the interest rates. Okay,
we're going to give you this magical ability to conjure
money in the form of debt that we have to
pay you back. I don't understand it. And by the way,
it can't be explained, as was proven by that academic
expert on the FED. What that guy courted him and
try to explain what they do and he couldn't. Okay, fine, fine,
But then there's oversight like this, why can't we listen
to every board meeting? I know we can observe some
of them, but we don't get their emails. We can't
do a foil request. We should just be able to
walk into the FED and go you guys got a
meeting at three forty five. Yeah, I'd like to join, right.
Speaker 3: That's sight.
Speaker 6: Yeah here, and here's the scary part about it, yeah,
zech if you really, you really think about it, and
this isn't the tinfoil happ but just it is what
it is. I think that a really important question is
why would anybody push back against oversight? And when I
say oversight, what my I've always believed that and I
could be wrong.
Speaker 5: I'm not an expert on the FED, but.
Speaker 6: I've always thought that an audit, a periodic audit by
somebody that can shield you know, certain things, guys. I
you know, I'm sure there are things I don't know.
An audit of some kind I think would go a
long way to add to transparency.
Speaker 5: And we know now.
Speaker 6: The thing that bothers me, though, like I said, is
why would anybody, including the FED, push back against not it?
Speaker 5: What is it that they don't want you to see?
Speaker 3: Right?
Speaker 6: And that what I am telling you is that there
is nobody on the face of the earth that will
convince me that the world would not be a.
Speaker 5: Better place if they were audited.
Speaker 6: Right, And now, does that mean that there are things
that that will disallow them to do that they currently do,
I'm sure, which is exactly why I want them audit
it exactly.
Speaker 1: And okay, so well, I'm going to get to this
piece that Scott Pascent wrote. It's just some bullet points
from this and we'll do this in just a quick second.
I am right now, I'm going to count, hads, what's
your coffee intake? How much coffee do you drink on?
Speaker 6: Two cubs today? What two cups a day? I'm really
sensitive to the caffeine. If i have a cup of
coffee past two pm, I'm not getting to sleepyh Yeah,
I know, lightweight.
Speaker 1: So I am. Now let's see a five minute energy,
which some people call five hour energy. And I'm gonna say,
let's see twenty four ounces forty eight ounces of bone
Frog coffee into the day and yeah, I know, and
some caffeine pills. Just just three of those and then
I'll go home and my wife and I are going
to work out today and go visit our daughter at work.
So I'll have another cup of coffee. Here's the thing
I've learned about bone Frog afternoon coffee. Now hear me
on this and I know there's gonna be people who
are upset by this. The best blend for afternoon coffee
from bone Frog is Golden Age. This is please don't
dispute this, like, just trust me in this. I see
your look in your face. I see that, Zach. Just
try just look. You can't even drink cofee after two o'clock.
I don't even know why you're upset.
Speaker 5: When it comes to coffee. There's no way I'm arguing with.
Speaker 1: You, okay, and trust me in this. And I know
my friends who are Darey farmers are going to object
to this. Afternoon is about oat juice. Okay, heavy cream
in the morning, go at it all. They have a
cream you can, but lighten it up in the afternoon,
and it's half and half half and I say oat
milk because it's not milk, oat juice, half coffee. And
by the way, warm the coffee up fully, but then
have that half a cup of oat juice in there,
and then a dash And just trust me in this.
You're gonna think this is very weird. A dash of
cinnamon with the Golden Age.
Speaker 3: I know.
Speaker 1: I saw you look in your face, Alex, and this
is like an afternoon dessert that will pick you up,
but it won't geek you out. It lifts you and
then sends you gently to sleep at about eight o'clock
and then you don't have the caffeine dreams. This is
just this approven fact the science has settled. Go to
Bonefrog Coffee dot com slash Todd by the Golden Age bag,
which honors what President Trump has driven to you to
the economy by broadsiding and destroying the Federal Reserve. And
of course it says God Country team on It's it's
Bonefrog Coffee dot com slash Todd promo code Todd at
checkout fifteen percent of subscription coffee. And don't tell anybody
I gave you the afternoon tip. And if you're Jerry Farmer, no,
I love the heavy cream. It's just about the afternoons.
So zach some bullet points here, stop me when there's
something insane. From Scott Bessent. Successive interventions by the Federal
Reserve during and after the financial crisis of two thousand
and eight created what amounted to a de facto backstop
for asset owners disinformation. No, you're nodding, okay, we're good
on that Yep. This harmful cycle concentrated national wealth among
those who already owned assets chapter percent. Okay, yep. Homeowners
saw their property values sore, largely insulated by fixed rate mortgages. Meanwhile,
younger and less affluent households, shut out of ownership and
hit hardest by inflation, missed out yep. Okay. By failing
to deliver on its inflation mandate, the Fed allowed class
and generational disparities to widen. Yep, true statements. Expanded powers
have fostered a culture in Washington that relies on the
Fed to bail out. I love this. Bail out the
government after four poor fiscal choices. Instead of accountability, presidents
in Congress have expected intervention when their policies falter. Anything
in there insane or wrong.
Speaker 5: There's nothing in there. There's not one hundred percent accurate. Okay.
Speaker 1: So let's go back through this and explain it to
me like a like I'm a tiny little child, Papa Zach.
What's it mean to backstop asset owners, Papa Zach.
Speaker 5: So here's the best way to explain it.
Speaker 6: We all remember O eight to nine really well, right,
And there were a lot of us that remember eighth
nine and let's think about like kind of the back
half of nine the beginning of twenty ten. You didn't
have to be a real estate like magnate to understand
that there were really good purchase prices out there.
Speaker 3: Right.
Speaker 6: The issue was nobody could get alone, right, and nobody
could get a loan because the banks were terrified and
the increased lending standards.
Speaker 5: But do you know who could get alone?
Speaker 6: The big banks, right, the Berkshire Hathaways of the world,
the black Rocks of the world.
Speaker 5: So what did they do?
Speaker 3: Right?
Speaker 5: We lowered rates to zero to encourage.
Speaker 6: Lending, but the only people that could borrow were people
that had balance sheets, that were that were that were
you know, to the point where the banks felt comfortable
to lending to them.
Speaker 5: So what did that end up doing?
Speaker 6: It was billionaires, it was hedge funds, it was investment banks.
So you go lower rates, so we have a collapse.
It carves fifty percent off the price of homes. Right,
and then because you tighten lending standards and rate and
drop interest rates to zero at the same time, the
only people that can take advantage of that are people
that don't need it, and so Berkshire Hathaway steps in
and buys up block city blocks. Meanwhile, they're pressing the
price of housing back up.
Speaker 5: Right.
Speaker 6: So by the time, now, remember if you're unfortunately one
of those guys who was being responsible bought a house
circa two thousand and four to two thousand and five.
Speaker 5: Let's say you do drywall.
Speaker 6: You didn't overextend yourself, Okay, but then the industry goes
to a crashing halt. Right, You've got no work, you
can't make your mortgage payment, you default on your mortgage.
Now you can't borrow for another seven years. You're frozen out.
It's like a bankruptcy.
Speaker 5: Okay. So by the time, that guy's credit had nothing
to do with it, right, he had nothing to do.
Speaker 6: He wasn't issuing bad loans, he wasn't doing you know,
credit default swaps like you know AIG was doing. The
guy enough, dude, he's doing drywall. As a matter of fact,
he even put thirty percent down on his house.
Speaker 5: He paid his truck off.
Speaker 6: He's doing things responsibly, right. But now because the economy crashes,
he's got no job. They fore clothes on him and
he can't borrow again for seven years. So by the
time he gets back to being able to borrow, he's
got to buy his same house back for fifteen percent
more than he.
Speaker 5: Originally paid for it.
Speaker 6: Right, Meanwhile, all the billionaires can go in there and
take advantage of zero percent rates and pick up all
these houses for fifty cents on a dollar, and they
never stopped to think about it. And at the time,
guys like me were raging saying, you're not gonna benefit
the economy at all. All you're gonna do is push
up asset prices. And why did we say that, because
all you were incentivizing was financial transactions. If the Fed's
gonna give meet zero percent money, I can manufacture profits.
If I can manufacture profits in an uncertain economic environment,
why would I actually go out and take the risk
that's involved with real investment?
Speaker 3: Right?
Speaker 6: Why would I go out and build a new factory.
I wouldn't because there's risk involved with that. But if
you're going to loan me money at zero percent and
I can turn around buy treasuries paying two and a half,
I can manufacture profits.
Speaker 5: Right. I can go out and buy these.
Speaker 6: Houses for artificially low rates at fifty cents on the
dollar and rent them out at two times of my
carry cost right, but I couldn't do that. You and
I couldn't do that back then because they wouldn't have
lended to us.
Speaker 1: Okay, So here's the image of my mind. Okay, Zach,
this is the image of my mind. The Federal Reserve,
regulators and bosses make this decision. We're going to simulate
the economy. Got to get people buying houses. Got to
make this happen. Okay, zero interest rate. I can hear
this discussion. That's an extraordinary measure. You know what extraordinary
times call for extraordinary measures. We need to make brave
decisions on behalf of the American people.
Speaker 5: Here.
Speaker 1: We're gonna do this thing. We're gonna make it. They
go back in the President's like I love this. Okay,
we're gonna drive house. And then it starts to happen. Look, look,
house sales are up. Whoa. And then they sit down
and they have a meeting. Who's buying the houses? Berkshire,
Hathaway and the Federal Reserve. If they were honest, people
would look at like, ah, didn't think of that. It's right,
we can't people can't get loans. Okay, let that didn't work.
Let's stop. But Instead, here's what I see. A dinner
party on the weekend at the Hamptons. Some jets find
the town, they sit down in the beach house. You
know the thing you did with zero inches right loans
that is really helping. Really, there's lots of transactions. Let
me show you some of the transaction flow. Here we
are moving units and okay, so I'm let me get
to the one last step insidantly, does your kids still
need a job because there's a consulting opportunity?
Speaker 6: Okay, so you're not being facetious. That's literally exactly how
it happened. And that's literally where the FED was getting
their data feedback. They're listening to Wall Street telling them, hey,
great job. And then if you listen to Bernanky, he's
even talked about this and Jay Powells mentioned it before
where they sat there and said they've admitted we started
realizing around thirteen or fourteen that all we were doing.
Speaker 5: Is ginning up asset prices.
Speaker 6: And meanwhile, guys like me are sitting there going We've
been telling you for that for five years, because it
does because when you play games with that, all you're
doing is messing around with the denominator you're not really
changing anything, right.
Speaker 5: And think about what you do own.
Speaker 6: By the way, right, we had sweeping underwriting standard changes,
so think about that. So we go in there, over
the same period of time economic crash, housing down fifty percent,
you go in there, start quantitative easing, artificially suppress interest
rates to zero, and at the same time titan credit standards. Okay,
so I want to, hey, I put that in my book.
If I want to make billionaires multi billionaires?
Speaker 5: What do I do do that?
Speaker 1: It just goes right back to this thing A friend
of mine taught me back in the Silicon Valid days,
and I was just raising money out of there. Lose
money on every unit, but make it up and volume. Right,
that's one of the great So I'm going to share
a suggestion with you and how to fix this. Okay, crazy,
crazy suggestion, And then we need to get to you
want to talk about insane decision making by government. This
comes out of Portland, Maine, and we'll talk about this
in just a second. We had our conference callers say
free live webinar with renewed healthcare. What an extraordinary thing.
This is really cool for me, This is so cool.
Prior to this, I got a note from my friend
Brent and he was down in Port of Arta and
he his wife went down and I get this incredible note.
So I don't want to identify Brent. I just said
his name, but I'll tell you this, Zach. He was
a professional athlete who utterly destroyed his body. Okay, And
he'll tell you the first to tell you. Literally. This
man is three inches shorter than he used to be
because of the sport he engaged in, and his body
is so compressed that he's he's a little bit older
than me, two years and broken deadlifts sumo deadlifts seven
hundred and forty five pounds. So he goes down to
Renew and he sends me note and says, one of
the biggest fans you have here for Wyoming is here
right now. I couldn't believe he went to high school together.
This is this is part of the family Renew. So
understand something I've known brand since I was a junior,
no sophomore high school, and that I will send him
to Renew knowing what he did to his body, knowing
what he put his body through. It man, his body,
and he'll be the first to tell you it got
trashed that. I will send him down. I will send
Zach down. I will go down with Zach. I will
sit with Zach what he does this. I'll send my
life group leaders down there. I'm sending a family member down.
In this conference call we had yesterday, I learned things.
We're gonna set up another one of these free live
webmon ours and one of the people won a free
week stay at Hotel Meal. We're gonna set this up
again because that's the in the web of art. So
just just just listen to me now or believe me later.
If you're dealing with neurological issues, ed hairline issues, because
these stem cells can solve mail pattern baldness by bringing
your scalp back to life instead of getting the plugs.
Things like grip arthritis, neurological issues, movement issues, intestinal issues, milecarditis, paracarditis.
Pause before you believe the American healthcare industry and go
to renew dot Healthcare. It's our e n u e
dot Healthcare telling me you're part of the Todd Hermanshaw
family and they'll take super good care of you. Renew
r e n ue dot Healthcare. So, Zach, here's an
idea why don't we let people like this? Guy writes
a note on I think this is this is Reddit.
Here writes I'm twenty eight. I'm on the border of
gen Z and Millennium. I make decent money, but I
got paid less than older workers in my office, even
though we do the same job. With rent and student loans,
is barely enough to stay afloat and very difficult to save.
I live in Philly, where the cost of living is
growing rapidly, and all I spent and I spend my
time working. It makes it nearly impossible to give my
girlfriend the attention she deserves, and she's always working too.
When we realize that we might not be able to
afford to have a baby, my parents didn't save for retirement,
so we have to consider their old age as well.
I didn't imagine our lives like this. I'm not against
hard work at all, but it doesn't pay off. We're
just managing our debt. At this point, home ownership and
having a baby seems like a distant dream. So here's
my suggestion. Why don't we let people come into house
loans and buy the interest rate down in reverse? Okay,
so here's what I'm saying, your high risk. Okay, so
we're going to give you a high risk loan, but
with every successive payment, your interest rate rolls down and reverse,
so we're almost saving money for you on the back end.
So you have a successful year of payments. You didn't
miss any boom bubble to principle only another year boom
bubble to principle only, So your thirty year became fifteen
because you behaved. Well, what would do you think about
something like that that's incentive driven that people can see
the points they're building up, like when you were a kid.
I don't know if you had the chart on the
fridge where you're building up points because you did your chores,
et cetera, so you could see, like in your case
where you got to buy the new Excel spreadsheet when
you were a kid, and you were excited about that,
and you know, the new calculator and stuff, and in
my case, I got gumballs.
Speaker 6: Hey, look, I would not be opposed to that if
it was paired with something that also mandated a certain
level of investment that so many of these big companies
have done. Because here's the problem. Okay, we keep addressing
these issues, and if we pass legislation alone, Like you
just said, yeah, you just made more money for those
billionaires than those people that bought up all the houses
in the first place, because it makes housing more affordable,
which makes the purchase price of housing go up. And
everybody forgets about that. They go, housing's too expensive. Bring
rates down. And I look at them, and I go,
if you bring rates down right now, the price of
housing is going to pop back up.
Speaker 5: Right, So like it's it's so no. But because of
this mess.
Speaker 6: Now, the flip side is we're living in this Frankenstein
economy that the federal Reserve and an overspending government has created.
Speaker 1: Right, and so can Orange Man.
Speaker 5: Well yeah, yeah, I mean, of course he's the problem.
He's all of these genesis small of our problems.
Speaker 6: But but for for these for these millennial kids that
have had nothing to do with it, right, they're just
living in this world and they're dealing with it.
Speaker 3: Yeah.
Speaker 6: I think that you can do something like that, and
I love that incentive for them paying things on time.
But I think that if you do that, you've got
to do that. For instance, I do not think that
corporations like there needs to be some type of restriction
on the ability to go in and buy up that
amount of retail house there there has to be And.
Speaker 1: Okay, would this be anti freedom to go back to
those times to say, hey, look, sorry, but if you
bought up houses using zero interest rate loans and your
Berkshire Hathaway and your black Rock and you didn't need
those loans. Is that what you're saying by forced investment?
Speaker 6: Yeah, because what you've got is you have an unfair marketplace. Yeah, okay,
you cannot have a marketplace. And here's my issue with it.
So many of those financial institutions received billion dollar bailouts
in Wall Street, right or during the eight to nine
financial collapse. So literally, what like think about that? If
you're too big to fail, thus making you in line
to receive billions of dollars of bailouts, when the average
guy at home didn't get bailed out anything and lost
his house, you can't then take that money and go
bid up a residential market, right, Meaning the whole point
of having free market is that nobody has an advantage
over somebody else. Well, you do, because if you get overextended,
the government bails you out. Meanwhile, you can also access
zero percent money. We can't, right, so there's all these caveats,
and it's insanity. You cannot let people go into a
residential mored right, the whole the whole industry is governed
by the economics that that that control or involve all
of us, right, all retail people, all people that don't.
And then you're going to allow an institution that jumps
in there and plays by completely different rules. It's just
asonine and and and yeah, it's it's just incredibly unfair,
and everybody looks the other way because nobody cries about
any of these things when it makes things go up
in price, right, Yeah, like that's that's really why it happens.
Speaker 1: Okay, is because we'd be doing to make good on
one of the big, big con jobs in history. So
here's how I could I could rationalize this and be
pro freedom and not stealing. Is we go to the
industry and we say, okay, here's the deal. You can
unload these assets, or you can take a bunch of money,
scoop it back out, give it to us to help
lower housing costs for others. I actually like the idea.
If you're gonna need to unload these assets, and I
totally love the idea of a cap on this house
on buying up retail houses. Love that idea because it's destroying.
It's not free markets. And they have these fixed things.
I heard an ad this morning, and I hear these
from time to time. Now there's a bunch of companies
and they always try to be really folksy. And I
heard this on Christian Marada this morning. My name is Eric,
and I buy houses that are in distress. If you
want a full price offer on your house today, with
no haggling, no discussion, we'll pay you cash for a
house today, as is I buy houses from anyone distressed renters.
We do that all. Just give me a call. My
name is Eric. Here's my phone number, and then you
know if you're called, Hey, can I talk to Eric. Ah,
he's not in I don't know this this Eric. You know,
I don't know. Listen, this is Eric. But you don't
sound like Eric. Oh no, I'm veryly a bunch Eric
thinking and they're posing. So I know that they're these
big companies posting this way. So I just want to
be cloning your proposal. We go to these companies and
say you're going to divest to this housing and we're
going to make sure you can't buy any more than
this percentage of the houses. And you think that frees
up the housing market and makes it more fair.
Speaker 6: Yeah, so, and here and this is how you'd want
to go about doing it. You'd sit there and say,
any institution or any non natural person that meets this criteria,
i e. Are you a member bank of the Federal Reserve,
Which if you're a member bank of the Federal Reserve,
you're inherently backed up by the Federal Reserve. You should
not be competing in a market against the typical US
home buyer.
Speaker 5: That's not fair, got it right.
Speaker 6: So I'm not saying you can't own more houses or
any you know, arcane super controlling. But bottom line, if
you are associated with or part of on this institution
it is a Federal Reserve bank member, or you own
or you're a broker dealer, or anyway anything that would
give you access to capital at a discount to retail,
then you shouldn't be allowed to own, you know, over
a certain amount whatever that wherever you put that limit.
And then I think that doing some type of Fannie
may federally backed type of loan for people that fit
in that sub sect of of you know that twenty
five to thirty five year old range. I love the
idea of something of rewarding them for making payments. Yeah,
maybe doing maybe doing a program that allows them to
roll their student loans into the loan and consolidate and
make both a combined lower amount something.
Speaker 5: Because it and here's and here's the other part of it.
Speaker 6: I've said this before, and some of I've ticked off
some of my clients. And I don't mean this because
it's not the people that listen to this show that
I'm talking about. But the baby boom generation has really
done a lot of things that the direct cost of
the younger generations. Right, everything has been about bailouts, everything
has been about suspending prices.
Speaker 5: But think about it.
Speaker 6: Nobody ever thinks about what you know what One of
the benefits of a recession is.
Speaker 5: Prices go down.
Speaker 6: Yeah, right, prices go down, and so people are able
to get in, usually younger people too, Typically speaking, people
just starting out in the in the job market. They
don't have the biggest contractions of wages, and a lot
of times they don't have any contractions of wages and
recessions because they're at the lower end of the stack anyway, right,
and so you can't. It's just this idea that we
have that keep making things. It's this belief that you
and I have talked about that has pervaded our culture
in my opinion, that there are no cost choices out there.
Speaker 1: Yeah right, and.
Speaker 6: It's well, yeah, we don't want housing prices to go down.
Well yeah, but tell that to the people that want
to buy one, right, And so we keep ginning up
the stock market, We keep ginning up the housing market.
And who does that benefit disproportionately the people that own
most of the houses and most.
Speaker 5: Of the stocks. Who is that? It's the baby boomers.
Speaker 1: Yep, Yeah, it's well said. So there's a solution that
a government's back east has come up with in relation
to commercial real estates and for small businesses, you know,
people who own a storefront here or there. And I'll
share this with you in a second. I just want
you to rate this for intelligence. One of the small
businesses we work here is called Alan Soaps. It is
Alan Soaps dot com slash todd. Let me make you
a special offer. Here's a special offer. I want you
to go try their sample pack and in this case,
you can kind of build your own sample pack or
your gift pack for someone that you think should try.
Soap that's all natural, made in America, and it supports
people like Alan who work there. It's not a charity,
it's a business. The soap happens to be excellent, and
Alan and Ian worked there, both impacted differently by autism.
But let me make you this offer. Give this as
a gift to people and let them hear the story
of Allan. Now, soap isn't the traditional gift you'd give
some Give this to somebody and then say, hey, after
you try the soap, I want to tell you a story.
So after they try the soap, sit with them and say, hey,
let me tell you the story of this company. Alan here,
and you tell him about Alan. You've probably heard about Alan.
He's fourteen, he's been through eighteen operations. He's effectively nonverbal
because of autism. Tell him this was inspired because people
wanted to see Alan aborted, and he and his parents said, no,
we're not going to do it. We're in fact our
kids get to a place to live. Tell them the
story about how Amazon offered to buy the company and
they said, look, we'll move the soap off shores will
make it and shin it with a bunch of chemicals
and maybe some slave labor, and we'll give you a
stipend and then Alan can have the foundation. And John
and his wife said no, we're not going to do that.
Tell him that story and then say would you consider
subscribing to this soap? I bet you you got people
say not only will I do it, I'll do it
right now, which would then beg the question why don't
you do it? So go to alansop dot com slash todd.
That's Alansaps dot com slash tod. You get tempercent off
all of their products. You support a company that proves
every single minute that all lives matter an soaps dot
com slash todd. So Zach, I want you to rate
this on a scale of one to ten, one being
highly questionable, maybe even fraudulently considered, and ten being demonstrably
perfect in terms of thoughts in planning. In Portland, Maine,
they're having some problems storefronts. They can't seem to fill
these up, and so there's some residents who are the
city council has come up with an idea on how
to make sure that Portland residents don't have. This is
source of unfilled commercial property.
Speaker 7: It makes no sense to be finding people finding property
owners merely because they can't find a tenant for their property,
mainly because of the policies of this city council that
make it difficult for businesses to operate in the City
of Portland. So that's all you're doing is finding them
for their inability to be able to you know, rent
out those buildings. The entire ordinance makes absolutely no sense.
And I don't know that there's any other place in
America that they find people who are not you know,
for vacance to upfront. It just makes no sense in
the world.
Speaker 1: And another lady comes up, so she says it some
other property owners scale one to ten.
Speaker 6: Yeah, zero, and here's here's here's like, this is just
another example of how completely stupid and incompetent our political
leadership is. If they understood the way commercial real estate
is even valued, what they'd understand is they're asking everybody
to go out there and tank the value of their
commercial real estate buildings. That's what they're asking them to do,
because commercial real estate has valued solely off rental income. Okay,
if you go in there and establish a lit or rent. Okay,
that means that you're like effectively bidding against yourself. Whereas
if you want to sit there and wait for rents
to recover and you don't want to knock down the
value of your own property, you should be able to
have the right to do that. Like it's once again,
like you look at them taking. If you want the
cost of real estate to go down, quit intervening, Quit intervening. Right,
every time you do this, you're gonna make less buyers
for an area, and you're gonna depress prices, and that's
not going to benefit anybody, right, Like, just they they
just can't and they never learn, they never learn. It's
like the morons we've got run in Seattle, right, And
it's not it's you and I have talked. It's not
political disagreements. You're looking at these people and saying, listen,
no matter how enlightened you think it is to say
two plus three equals seven, it doesn't, It just doesn't.
And you're killing your constituents, you're killing yourself.
Speaker 5: It's just so yeah, I.
Speaker 1: Don't know, you mentioned your city, and I'm going to
copy this into the show notes and ask Alex to
grab it realquick. I don't think you can see it.
It's a it's just below that. It's the zombie thing.
I don't know if you saw these ads in your
separate country where you live outside of Seattle. Now, praise
guidance and bulwarks outside of Seattle, but this is a
This is legitimately an ad for the most corrupt transit
agency in the world, Sound Transit. And people listening to
this outside of Seattle, which is the majority of you,
you pay for this. Unless you live outside United States,
you pay for this. This thing that cannot complete a project.
They're ten billion dollars behind budgets. This is a literal
ad running in a city where people are zombied out
on fentanyl. You walk through downtown Seattle, there's this people
that lean over at the waist, rocking back and forth,
soiling themselves, mumbling, and they're called zombies and they're run
an ad AD with a zombie person with a gas
pump in their hand break a mindless habit rides Sound Transit.
So the zombie like behavior zact in their mind. Are
people filling up their cars with gasoline, not people filling
up their veins with with fentanol. That's what you're talking
about in terms of your leadership back there.
Speaker 6: Yeah, well, I mean and the and the metro Metro
transit's such a really good sound Transit's such a good
example because if people have ever been to this area,
the pew of Sound area, you can fly over it
in a prop plane really quick and understand why public
transit just doesn't work here. Right There's huge bodies of water, yeah,
and mountains and it kind of makes it really tough.
And people live in a very disparate spell. You know,
it's a very suburban type culture. It's you know, and
you look at them and go, what do you expect? Like,
how like it's not even plausible, right, Like, it's just
not like it doesn't work.
Speaker 1: Do you know that there was a test done on
the seating in your buses and your trains. Do you
know that it was about ninety percent of them that
had traces of fentanyl on them?
Speaker 6: Oh, I would be shocked at the somebody screwed up.
Speaker 5: It's not reason they get.
Speaker 1: An If you wanted to get a fentanyl high, you
could just walk around licking the streets and the seats
and a sound transit train. Just not the seats, just
the back so you don't get gross stuff. Just get
a contact high on fentanyl.
Speaker 5: But you don't even need to do that.
Speaker 6: You just walk downtown and they'll buy a hit for you, right,
I mean, they'll just give it to you, right, I mean,
just you know that we've got to make sure they're
getting clean smack.
Speaker 3: You know.
Speaker 5: That's that's compassion.
Speaker 1: That is compassion, Absolutely compassion. It's always great to have
you on my brother. Thank you for taking the time,
wise counsel day. Say hi to your family. Appreciate you. Yep,
this is a Todd Harber show. Please go, be well,
be strong, be kind, to make a decision today to
walk in the light of Christ.