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Speaker 1: Everyone keeps telling us that inflation has gone down. It

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has not gone down. Get that out of your head.

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It has not gone down. It has slowed down, right,

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And so we are still stacking. And it's called compound interest.

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So the price of goods is compounding every single year.

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And so you can sit here and say, no, inflation

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has gone down, No it hasn't. It slowed down. It's

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only up by you know, two and a half percent

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over last year, but that's still over last year, which

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was up like thirty percent over the following two years.

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Speaker 2: You were listening to Carrie. Let'sa's Financial Survival Network where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than ever.

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Speaker 3: Welcome you are listening to and watching the Financial Survival Network.

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I'm your host, Carrie Lutts. Well, hey, election right around

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the corner. We got great job numbers out. Everything's doing

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well unless you live in a state that gets hurricanes,

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in which case.

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Speaker 4: Not so great.

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Speaker 3: And how really these numbers, What is the FED going

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to do next?

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Speaker 4: All these questions and more.

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Speaker 3: Eddie Gifford's with us tactivewealth dot com.

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Speaker 4: Eddie, great to have you back on the show.

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Speaker 3: If you got a question for Eddie or myself, shoot

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me an email kl at Carrie LUTs dot com. So

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it looks like we're in the colm before the storm,

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both in Florida and the country.

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Speaker 1: Yeah, definitely. You know, we're in this situation where it's

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funny because you get one job print that's better than

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expected and need just forget everything. This happened in the

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last six months, right, I mean, like we've we had

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a lot of good job prints all year long, and

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then we had a dramatic and then all of a sudden,

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we have a good job right when the election is

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around the corner. Now, I don't know, it just kind

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of strange to me that when we get like adjustments upward,

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they're like, as there are two thousand, like very very

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small like margin, right, But when we get the adjustments

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down they're like significant, like like I mean we're talking

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when they came forward and said, oh, sorry, you know,

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we didn't actually create eight hundred thousand jobs. But it's okay,

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because you know, the most recent print was good, so

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that everything is good to get. And of course, the

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interesting thing about it is that it really has caused

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like an about base on the cuts from the standpoint

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that there's like nobody expecting a fifty basis point cut

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after that, and the treasury market is telling us that

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the treasury market, I mean, gosh, the tenure got back

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over four percent today even been there in forever. And

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so that is concerning terry because you can have every

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job right, you can have everything you want. You can

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make it like China just did a really big stimulus.

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We live in a global economy and a lot of

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the things that are happening right now are more inflationary.

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Speaker 3: Now.

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Speaker 1: No one wants to talk about the fact that inflation

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could come back, but it did it in the seventies.

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I couldn't do it again, and why couldn't it be

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worse than it was in twenty twenty tears? And I

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think that's kind of when you actually look at it

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and think about what could happen, you can't eliminate that possibility.

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Speaker 3: Yeah, well, look, we've talked about it before. Inflation goes

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in cycles. It doesn't just go away, and is Milton

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Friedman one of the greatest economists of all time? The

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question about it said, inflation is first and foremost a

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monetary phenomena.

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Speaker 4: Right, What did you get wrong Thereed?

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Speaker 1: Oh, I mean, you're absolutely right. I think that the Well,

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the funny thing about it is that we want inflation too.

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You know, the FED is is always you know, targeting.

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They're not targeting zero percent, right, they're targeting two percent.

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And of course it on includes things like sugar in

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the CPI. Why would they do that? It's it's only

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every single thing that you can buy in a grocery

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store nowadays. And so it's always interesting to see CPI

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versus actual because I know the people that I talked

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to every day right now, they're they're hurt by the

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fact that they're maxed out on the credit card. And

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guess what, a fifty basis point cut didn't really do

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much for them. And the other thing is is that

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like everyone keeps telling us that inflation has gone down,

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it has not gone down. Get that out of your head.

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It has not gone down. It has slowed down, right,

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And so we are still stacking. And it's called compound interest.

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So the price of goods is compounding every single year.

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And so you can sit here and say, no, inflation

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has gone down, No it hasn't. It slowed down. It's

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only up by you know, two and a half percent

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over last year, but that's still over last year, which

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was up like thirty percent over the following two years.

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And so we're at this just like breaking point. And

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of course it's like on the cusp of the election.

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And of course there's these storms happening that are inflationary,

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right because now all of a sudden that can mess

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with supply change and all of these things. And then oh,

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guess what, we got wars and that causes the price

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of oil to go up, which is also inflationary. And

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so there's a lot of things that we can't control

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that are going to have inflationary action. And then we

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have the FED, which all they can do is control

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that ding gray. And when you think about it, at

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this point, with everybody being maxed out on credit cards anyways,

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a rate hike might as well be considered inflationary because

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it's just increasing the cost for the consumer. And so

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like the only thing that fixes it is true demand destruction,

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which is where we start talking about recession, talking about

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S ANDP, going back to the twenty two letter rage. No,

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that can't happen, Yes it can. It's happened. It's happened

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two times in the last twenty five years, and so

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it's cryptique.

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Speaker 3: I'm going to tell you what I think is going

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to happen now. The inflation. It's going to run its course,

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assuming they don't tank the dollar, which would mean tanking

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the entire global financial system, including the bricks they would

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go with it, because all of our currency is fiant based.

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But I feel we are in a similar position to

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where we were in the nineties, and that was before

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the advent of the Internet for most of us for

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public consumption as being the greatest communication tool, networking tool,

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and monetization tool ever created. And really I felt like

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that brought the country out from an utter collapse that

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was going to occur. I think we could be in

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a similar situation with AI. And I don't know how

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AI will work, but I think AI is far more

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profound than the Internet. It's already affecting so much of

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what I do, both for business and pleasure, for show notes,

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for plotting out the show I'm working for a company,

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I'm doing a marketing plan for them. I'm working in

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another company. I have to figure out what went wrong

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with a company. It is become a force multiplier for

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me because I can dispense with so much of.

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Speaker 4: The ordinary thought tools.

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Speaker 3: Now, whether it'll replace me or not, I don't know,

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but conceivably it could drastically increase productivity throughout the economy,

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and then there will be job displacements, just like there

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always is.

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Speaker 4: In the end.

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Speaker 3: Technology the past past is prologue. Technology has always led

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to more jobs. It might not be the case here,

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but I think that is our one light at the

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end of the tunnel.

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Speaker 4: It might have this kind of effect.

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Speaker 3: Imagine if our productivity went up four or five or

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even ten percent, what would happen to the economy?

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Speaker 1: Then ed, well, that's the thing, right, Efficiency drives productivity,

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and the AI component is more and more and more

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adopted because you know, you know how people are like.

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They don't like change, nobody likes shit. We don't like

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them be differently. Why would we think differently? Even though

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that everything tells us to think differently. The human bring

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doesn't work that way. We don't like to be rewired.

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But the reality is is that the AI is kind

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of a rewiring of business of you know, it's a

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rewiring of like the way that we think as business

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owners or as employees, or is just like everyday people

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and so definitely productivity. You know, they always say technology

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is deflationary, and so the question is is, like, you know,

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to your point, does this AI have the ability to

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kind of deflationize the incoming inflationary storm? And I think

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that a lot of it just depends on adoption and

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trust and and you know, that's the thing that is

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steering I think a lot of people away from it too,

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is that, you know, can I really trust this? Is

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this thing really going to work? And then when you

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buy eighty you start using, You're like, oh my gosh,

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like I can get ten times more stuff done because

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like I only got to do the last ten percent.

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I don't go to they to the first ninety percent anymore.

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And so you know that unfortunately that does mean a

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lot of people lose jobs. But then there's also on

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the other side, there's a lot more different types of

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jobs that are created, you know, and instead of like

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being on the factory line, now you just got to

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spot chat things you know, before it gets to that

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final decision for that last ten percent, So it could

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it could totally do that. You know, I still think

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that we're in a situation where like, uh, that's what

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like brings us out of things getting really bad. I

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don't know if we can avoid what's coming. And you

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know that that's my biggest fear right now, is just

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an advisor is you know in two thousand and eight,

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two thousand and nine really bad, two thousand and two

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thousand and two really bad. Why were we able to

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recover two thousand and two thousand and two and two

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thousand and two thousand and eight. A lot of it

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had to do with technology, And I think that the

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technology will be the saying that saves us from disappearing, right,

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But I don't pick this out a little bit of

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pain first, unfortunately.

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Speaker 3: Yeah, Yeah, I agree. I mean I think the AI

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is already taking over the government. You know, in the

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there's a utility. I just happened to buy shares in it.

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I'm not saying anybody should called Dominion Energy at their

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primary areas like Virginia Northern Virginia, and they just sent

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notice to everybody that if you want to open a

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data center in the northern Virginia.

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Speaker 4: You have to make a reservation.

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Speaker 3: If it's like five hundred megawatts are higher, they have

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to reserve it because they're out of capacity. And that's

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something that's like and that's the reason I bought them.

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I said, Hey, to me, electricity is the best play

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on the economy because no matter what happens, they might

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not have figured out how to make money off of

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AI yet, but they're going to. There's no question some

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people are already doing it. Who got in early. It's

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not just in Nvidia, all of them. Like I said,

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I'm not saying anybody should buy. The stock got up

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like not that high for me. I've had it for

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a few months. It's up like ten percent, which isn't bad,

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plus is a dividend. While I'm not saying anybody should buy,

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and I'm not a financial advisor, but I just thought

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it was a cool play on AI and so electricity

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utilities they're going to have to do dramatic expansions here

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and it's not going to be enough just to put

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in solar cells and batteries. They're going to be building

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power plants here right.

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Speaker 4: Oh.

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Speaker 1: Absolutely, I think that you know, it's interesting that you

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talk about that, because you know, we were huge advocates

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of utilities this year, like like one from a standpoint

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that they were just like so they had underwormed so

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much relative to the SEB five hundred. But then also

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just because of this demand that you're speaking of, and so, like,

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the funny thing about it nowadays is that utilities generally speaking,

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are that thing are if you're staying in equities, it's

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to flight the safety in equity. And you know, when

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things get bad, people money managers, big money rotates right,

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becuse they can't sit in cash, they're not allowed to.

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They rotate to utilities, they rotate to value stocks, they

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rotate to dimon in pairs, right, and that's where they go. Well,

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now we've got this thing called AI and you know,

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we still have this thing called cryptocurrency, which is very

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tech heavy. We still have a lot of miners out there.

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We still have a lot of that that it is

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driving a lot of demand for electricity. You know, like

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a lot of these miners, it's not that they can't

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make money or that they don't have the money to

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buy the machines to be able to continue to make money.

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Even post having they can't get the energy, you know that.

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And so you know, obviously supply and demand is always

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the king, it doesn't matter what you're talking about. And

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if you need more energy, then the cost of energy

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is going to go up, right, And so I think

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you're absolutely right there. I think that that the as

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people figure out and we have you know, more adoption

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on the AI side, we have more adoption on the

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bigcleaning cryptocurrency side, that's just going to drive like more

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demand for energy. And you know, to your point, like, yeah,

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I know that Elon wants to just carve out of

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you know, a corner of Texas and just put a

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solar form, but luck with that, that's probably not going

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to happen, and that takes time.

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Speaker 3: You know.

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Speaker 1: It's the same thing that we've talked about with the

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whole like you know, grain energy of this last administration.

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It's like that's nice, but like we don't have the

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infrastructure to being able to produce what we need to

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produce already. So if you start taking stuff away, well,

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guess what, that's also going to raise the price of energy.

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And and so there's a very very strong supply and

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demand story. And again it's typically the the the area

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that is most valuable when things get bad. Not that

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it doesn't go down, but it doesn't typically go down

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as much. And these utility companies, people still pay the

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energy bills. They got to keep the lights on. Got

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to keep the lights on, and that's why the dividend

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keeps coming, you know. So uh, we're it's it's made

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it challenging as a money manager this year because sometimes

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it's hard to de cipher is the energy play the

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utilities play. Is this a risk off factor or is

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this a supplying demand factor? And I think that that's

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what's caught a lot of tactical money venders off guard,

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is that they've leaned into utilities as like a risk

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off play, and what's happening is it's becoming more of

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a supplying demand play. And so like it's ciphering that

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is becoming much more challenging when you look at your

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traditional intermarket relation ships and the coming storm. That's why

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you got to go back to basics and look at

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our our good old favorite, good old gold. Right y

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been sending a warning. I mean not saying that you

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need to jump on the sidelines, but we do have

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a significant warning being set by gold. I mean you

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look at today, right, like everything in the market is

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down except for bitcoin. That's interesting, right, and some of

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it maybe conflict, you know, some of it. A lot

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of it could be just distrusted and fiat like you

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were speaking about. So it is, it is very it

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is very interesting kind of the new supplying demand dynamics

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that are coming out as more technology becomes available.

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Speaker 3: Yeah, bitcoin is up, you know, going to break that

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sixty five thousand mark.

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Speaker 1: Because I keep getting the sixty six and then retreating.

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So we'll see if you can do it this time.

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Get because I think when the high and the seventy

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three range, so thinks he probably go to one hundred.

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Speaker 4: But sixteen was first.

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Speaker 3: Seventy five is a psychological resistance. Yeah, sixty five kind

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of it is our current resistance point. But it broke

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through sixty again and sixty four, so it's going to

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be interesting. It's its market cap now is one point

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three trillion, and i'd expect to see in the next

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couple of months, especially if there's a lot of election

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post election civil unrest, I'd expect to see it go higher.

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And so we find you attactivewealth dot com.

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Speaker 1: Correct, Yes, tactic slash Eddie Dash Gifford obviously, just go

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on to Google. You can also just look up Eddie Gifford.

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That's Eddie with A Y, G, A F, f lr

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and G. But yeah, Hey, it's about the exciting Jerry ready, never.

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Speaker 3: Dull Hey, and I'll do you one better if you

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go to the show notes this enterview on Financial Survival

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Network dot com. You just click that link and it'll

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take your right to Eddie's site. While you're there, please

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sign up for your free newsletter.

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Speaker 4: We're over.

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Speaker 3: I think we're getting close to thirty five or forty

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thousand subs right.

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Speaker 4: Now as we speak.

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Speaker 3: Goal is by the end of the year first quarter

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Q one of the twenty five to hit one hundred thousand,

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which would be a huge milestone. Ed appreciate you coming on.

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We'll talk to you again real soon. Oh, if you

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got a question for Eddie or myself, shoot me an

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email kl at Carrie LUTs dot com.

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Speaker 4: Ed, we'll talk to you again soon. I appreciate it.

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Speaker 1: Kerry, thank you, thanks.

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Speaker 2: For listening to Carrie Letz's Financial Survival Network your solution

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to today's trying times. For the latest, go to Financial

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Survivalnetwork dot com Financial Survival Network

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Speaker 1: Now more than ever,