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Speaker 1: Again.

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Speaker 2: You know, like I said, you know people, one way

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or another, your taxes are going up, and you need

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to understand something that inflation is a tax. Milton Freeman

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explained it really, really well. You're either paying for all

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of this spending with taxes or you're paying it with

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the you know how, your currency is devalued.

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Speaker 1: That's the reality.

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Speaker 3: You're listening to.

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Speaker 4: Carrie Let'sa's Financial Survival Network where you get valuable information.

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You just can't find anywhere else to thrive in today's

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trying times. You need the Financial Survival Network now more

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than ever. Go to Financial Survivalnetwork dot com and get

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your free newsletter and gift. Financial Survival Network now more than.

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Speaker 5: Ever, And welcome you are listening to and watching the

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Financial Survival Network. I'm your host, and well got a

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special treat for you today. Wall Streets a watchdog. Chris

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Martowski is with us, and it's been a while. Chris, Uh,

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what's what's happening in the world here? Pretty dull time

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of the time of world history, isn't it.

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Speaker 1: He owns lots.

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Speaker 2: Going on with with politics, and like you can't turn

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your head without seeing something going on or somebody getting

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uh foe offended by some comment somewhere that oh my god,

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I've got the vapors.

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Speaker 1: A comedian made.

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Speaker 2: A joke and then they you know, it's it's getting

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to be, you know, at the absurd and nonsensical. But

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it always has been. You know, I've been it's way

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of talk. Take that and you put the politics aside.

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I'm just I'm laughing my head off because just how

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the the Bond vigilantes they're they're here, and they told

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the Fed and howl that they could take a hike

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with their rate cuts. And it's not just here though,

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which is the amazing thing is you're taking a look

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at yields rise all across the globe.

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Speaker 1: And again, we've got to be politically correct.

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Speaker 2: Nowadays seems to be able to say something the United

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States of America is the tallest short person.

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Speaker 1: In the world. Knows to this right now, because it's

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it's happening everywhere. It's hilarious.

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Speaker 5: You know what we say on FSN we say that

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the US is the best looking house in Baltimore, and.

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Speaker 2: There you go, it around the Johns Hopkins Loyola area

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the that day.

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Speaker 5: I know, well, yeah, so things aren't what they used

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to be. But in the meantime, you got like China

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appears to be in a financial implosion of which they

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have no ability to deal with. We got half the

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world trying to blow up the other half of the world.

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It seems right with China.

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Speaker 2: It's like saying, Okay, I'm gonna throw a ball up

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in the air, and what's gonna happen. It's gonna come

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down and central planning. It happens every single time it's tried,

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and you know, you do to try to control you know,

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the you know, mother nature, which kind of is akin

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to what you know, economics.

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Speaker 1: Really is, is these trillions of interactions that.

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Speaker 2: Happen every single day, and you think you've got some

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handle on it, you're going to fail. And trying them

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failed miserably. I mean, they were going in the right

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direction for a period of time and they decided to

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go all in maw with Z and.

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Speaker 1: Again no shock here.

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Speaker 2: I mean, anybody ever believed that the numbers that the

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Chinese government puts out their growth numbers anything at all.

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It's all a fougazy everything that they put out there.

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They've got major major issues taking place. Their real estate

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issues are beyond the pannable. Yeah, I don't know how

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they're going to go about resetting it. But what was

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the announcement today? Was that one point or one point

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another one point five trillion dollars stimulus but Zuka?

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Speaker 5: Yeah, yeah, they did with Zuka and the market went down.

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Speaker 2: You know.

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Speaker 3: You know it's interesting.

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Speaker 5: There was once it's always a question of life imitating

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South Park. There was that one where everything in the

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world was securitized and he wanted to the Sun, wants

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to get a refund on the margarita maker, but he can't.

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The store won't take it back because it's been securitized.

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So he goes to the hedge fund on Wall Street

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that owns it, and he goes into their offices and

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the way the system they're using to place their bets

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is they're cutting off the head of a chicken. And

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after they cut the head off, the chicken walks around

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this wheel sprouting blood.

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Speaker 2: And then no, no, that was after the hedge fund

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carried That was when they went the Fed and the government.

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And remember that the chicken landed on bailout if you remember.

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I mean, you can't make this stuff up, Chris, I mean,

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this is like maybe they're not cutting the heads of

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chickens off. But maybe they're just looking at entrails instead,

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you know. Right now, I mean everybody's just like, okay,

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you lowered, you lowered rates by fifty basis points the

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you know, for whatever reason it may be. And if

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you took a look at the numbers that were coming out,

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there was no real justification for it, and the market said, nap.

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Now now we're not going along with this. This you know,

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this is not going to happen. And right now the

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entire world is a washing debt and they're printing more.

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Speaker 1: It was funny today it was like you had the the.

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Speaker 2: Usual cheerleader for the Fed and uh, you know, big government,

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Steve Lisman on CNBC. He's like, I don't like to

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give the you know, the treasury you know, pass fail

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when it comes to bond auctions. I want to give

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it an a because you know, the least they sold everything,

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like buddy, the higher the rates are, that's the more

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that we the tax payers are paying on all of

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this debt. Not you know, not to mention the fact

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that's the that's the largest line item on the budget

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at this point in time, is interest on the national debt.

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Speaker 1: I mean, it's it is.

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Speaker 2: A big deal, but it's a big deal everywhere. And

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it was interesting. Somebody sent me a clip and I've usually,

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you know, kind of remember these things.

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Speaker 3: I don't remember.

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Speaker 2: It was Alan Greenspan saying, hey, listen, you know, one

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way to get out of the debt situation is to

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force everyone else's hand. Everybody else goes bankrupt. Maybe that's

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the case as we're trying to pull right now, or

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maybe it was the other one I heard is maybe

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maybe the CIA is behind bitcoin and they're going to

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run the price up to a couple of million and

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then we'll bail our way. No, but right now you

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know that that's you know, debt as far as the

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eye can see, and nobody's taking it seriously.

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Speaker 5: Yeah, So they don't take it seriously until they have

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to take it seriously, right.

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Speaker 2: I think we have to now. I mean, you're taking

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a look. You'll get mortgage rates back up above seven percent.

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We have our issues with commercial real estate here in

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this cartry. The the the underwater portfolio is worse than

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it was stir for the housing crisis during the Great Recession.

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Speaker 1: You know, I don't know how they're going to weasel

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their way out of that.

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Speaker 2: They're like plan and extend and pretend right now and

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hiding assets on balance sheet. But you know, it's it's

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a it's an ugly situation right now. And again, we

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all know our government finances most of our debt short

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term instruments that they can't perpetually roll over again and

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again and again. And now they're rolling it over at

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higher rates, which is just going to cost a taxpayer

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more money.

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Speaker 5: Well, eventually they're just going to monetize it right again.

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Speaker 2: You know, like I said, you know, people, one way

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or another, your your taxes are going up, and you

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need to understand something that inflation is a tax. Milton

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Freeman explained it really really well, you're either paying for

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all of this spending with taxes or you're paying it

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with the you know how, your your currency is devalued.

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Speaker 1: That's the reality.

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Speaker 5: So over the weekend, former president proposed elimination of the

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income tax, uh, just putting in tariffs I guess as

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a substitute, which in theory sounds wonderful, But how's that

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really going to work out?

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Speaker 2: Yeah, theory, it sounds wonderful that everybody gets free beer,

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but that's just you know, it's just it's a theory.

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It's great, it's not going to happen, Nor are many

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of these policies. We all know this that a lot

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of these things are just used for public consumption. You can,

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you know, listen to things that are you know, promised

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in the rut up to uh election day or State

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of the Union addresses. Now that that's that's not going

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to happen. No, it's not feasible. I am all for

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the elimination of the income tax.

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Speaker 3: I big believe.

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Speaker 1: I'd rather go to a.

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Speaker 2: National sales tax. I think it'd be a hell of

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a lot better than an income tax. Got to do something.

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But again, I wouldn't instill anything like that until they

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actually you know, repealed, uh, you know, the legality of

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the income tax truss government, because then they'll do both

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at the same time. We'll have a vat tax and

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we'll have it. You know, that's not I don't want that.

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But I much rather see, you know, a national sales

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tax than what we have right now.

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Speaker 3: Yeah.

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Speaker 5: Well, for one thing, it be a lot easier to

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calculate because you wouldn't have to calculate it.

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Speaker 3: Uh, you know, I mean, what.

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Speaker 2: Hey, at the point of sale, how about that consumption

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tax at the point of sale works every single time?

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Speaker 3: What would it be like?

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Speaker 2: You know there John Linder that actually had a book,

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I have a called they actually call it the fair Tax,

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and how it would be set up. And again he'd

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have to figure how that would would go about working.

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But again it would also you would be getting rid

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of fight as well with that also, and let's just

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understand something that your your your fight.

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Speaker 1: Attacks is just a tax.

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Speaker 3: Yeah again you medic with a.

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Speaker 1: Site's South Park.

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Speaker 2: I remember the old and Simpsons that the duff Beer

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factory where they had like duff Ice, dug Dry all this.

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It was all the sane beer just going into the

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same spouts. All the money that you're baying is all

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going to the treasury. It's all the same thing. Oh

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it's yeah, it's going to some lock box somewhere.

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Speaker 1: No.

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Speaker 2: No, no, it's not going to Gringott's bank with the

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dragons from Harry Partner Garring you know guard Ar your

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solid security money. It goes to the Treasury and it

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gets sent out the damn door.

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Speaker 5: So so it all all comes down to South Park.

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Maybe we should put them in charge of what's happening here.

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Speaker 3: Huh.

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Speaker 2: Those guys are geniuses. I have to hand it to them.

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And they call a lot of stuff over the years,

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that's for sure.

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Speaker 3: Yeah.

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Speaker 5: The uh you know, Kevin Spacey's a dungeon, you know,

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all of this stuff. And they called Donald Trump being

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elected president many many years ago.

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Speaker 3: Right, Yeah.

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Speaker 2: I think Chrisus Simpsons did that. Yeah, the Simpsons did

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that way way back in the day. Yeah, it was

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one of the calls that they made. But again, they

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had so many calls. They've been on since what like

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nineteen eighty seven or something.

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Speaker 3: Yeah, a long long time. Yeah. Yeah.

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Speaker 5: So the big question always is you just buy gold

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and silver, you buy cryptos, real estate.

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Speaker 1: I did need ox, I mean all assets.

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Speaker 2: I mean my clients, you know, they you know, they well,

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you know, tell me, oh, your wonderful at performance is fantastic.

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It's like, I'm like, you know, I appreciate the kudos

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and all that, but you've got to understand that some.

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Speaker 1: Of this performance has been duped inflation.

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Speaker 2: I mean, it's not just you know, the you know

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the fact that you know it's great that the companies

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we got great companies in your portfolio.

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Speaker 1: And they're doing well.

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Speaker 2: But you need to also understand that these things are

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up along with you know, inflation. That plays a part

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in this also, and you know your portfolios, you know,

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whatever it may be, you know it looks great and

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also but it's not worth as much as it was.

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Actually saw some numbers the other day. I said, you know,

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going back to go back to nineteen ninety six, and

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you know, if you had, you know, a million, if

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you were a millionaire, then let's the equivalent to about

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a half a million tonight.

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Speaker 1: It's a big.

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Speaker 3: Difference, big difference, big difference.

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Speaker 5: But it's so hard to compare prior price levels to

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current Yeah, for food, you know, cost of an omelet

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or a cup of coffee. You know, I go to

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this place called the Inflation Cafe in the mornings and

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they just raised the price on my particular drink. And

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my drink's a little funky, but basically everyone has their

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drink there and it went from five sixty two, five

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sixty seven to six thirty two overnight.

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Speaker 3: And you know it's no better.

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Speaker 5: And you know, when I go back and I look

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at their as a did an analysis, it's I have

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to send you a.

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Speaker 3: Link to the article.

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Speaker 5: But basically they've got up forty four percent since twenty fourteen,

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and they've cut back on their rewards program by about

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eighty percent, and they're making more money than ever, but

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yet they can't keep their heads above water.

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Speaker 2: Well, I mean, that's that's the inflation that matters. I

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was talking to the bare necessities inflation. It's the stuff

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that you have to buy and every day basis. I mean,

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again the wizards of smart economists. Oh, inflation is that

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this percent? Listen, Okay, yeah, every ten years or so,

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I need to buy a new TV. And that's great

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that the price is a lot less, you know, But

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the fact is, the stuff that we have to spend

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money on every single day continues to go up. That's

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what's most important. Whether it be you know, your heating costs,

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your electricity costs, your car costs, gasoline costs, your food costs,

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your hair cut, whatever, all of the things that you

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have to spend money on in a regular basis continues

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to go up. And that's why people are so frustrated. Yeah,

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like I said, it's great, you know, efficiencies and productivity

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driving down the cost of electronics and certain things and

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durable goods. But the reality is how often you have

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to buy those things. You can't eat an iPad. Yeah,

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it's so true.

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Speaker 5: And you know, as nice as a tesla is, you

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can't You can't do much with it other than drive.

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It's and electricity prices up, everything's up. So assets are

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the key to surviving here. And if you can get

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assets with cash flow, like commercial not commercial real estate,

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but residential real estate, like leasing different items that people

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have to have, then that's where you really clean up.

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Speaker 2: Right, Yeah, I mean any any any You have to

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have your money working for you. I mean, if you're

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not being again, you're falling behind. That's why everybody they

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feel it. You know, you're taking you know, you're working

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your butt off. You might get a raise, you're taking

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two steps forward, but you're taking three steps back. The

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only way you're going to avoid that is you've got

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to be you know, prudent with your money, and you

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have to be invested.

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Speaker 1: You have to be putting money awhay. You have to

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beat inflation.

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Speaker 2: And because it's it's there, it's a reality. And if

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you're not, you know, like I said, you're falling behind.

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Speaker 5: We don't really know what the real inflation rate is,

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but it's certainly higher than four percent. And what are

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you getting at your banker? You know, what is the

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you know, short term treasure right now? Right on four percent?

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It's certainly hell of a lot higher than that. So

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if you buy a piece of rental real estate and

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you're paying six and a half percent thirty year fixed mortgage,

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I think the inflation rates probably closer to ten percent. Yeah,

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so you're basically getting free money something else.

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Speaker 2: Well yeah, well yeah, without a doubt, I think inflation

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is probably above Teddy, we'll go back with the old

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way that they calculated, back to the vulgar numbers. I

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think it's even higher than that. So you always have

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to find a way to try to, you know, get

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ahead of the game. And again you do it real estate.

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You do it through you know, you look for great

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companies that you can see growth in that are paying

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you a dividend as well, and you reinvest that you

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compound those safe yields over time, which is a you know,

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the royal road of riches is compounding. You do that,

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you're able to, you know, stay afloat and get ahead

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of this as best you possibly can, because again I don't.

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Inflation is the way the world now, you know, nobody

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we have neither candidate right now. That is the slightest

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bit serious about cutting the government down the size. I mean,

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god willing, you know, Trump allows Musk to go in

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there and cut a couple trillion bucks because again we

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do that. I mean, you're going to talk about, you know,

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an economy where we got an enormous amount of potential

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we can do unbelievable things that we can get our

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fiscal house in order.

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Speaker 1: That would be fantastic. But again, am I holding my breath?

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Speaker 3: No?

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Speaker 1: No, I've been alive for way too long.

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Speaker 5: Well, one thing that Trump did last time that really

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was effective was when he issued the executive order that

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for every new regulation you want to pass, you got

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to get rid of two. Yeah, and that two turned

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into twenty. And imagine if he said you got to

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get rid of one hundred, all right, or you got

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to get rid.

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Speaker 2: Of but yeah about you get along with the whatever

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you got to get rid of, like five government workers.

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Speaker 1: Right top of that.

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Speaker 5: That's on top of that too, one hundred worker, one

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hundred regulations and one hundred government employees.

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Speaker 2: Yeah, so you cut that down the side where well

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over two millions some odd.

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Speaker 1: I mean, it's it's insanity.

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Speaker 5: And you know, contractors, it's military industrial complex.

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Speaker 2: Everything, yep, cut it all out, cut it down the

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size again. You know, it's it's disgusting what we're watching

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taking place in this country.

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Speaker 1: How we spend money.

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Speaker 2: Yeah, I'm here in Tampa, Florida, the devastation some of

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these areas. Here at the hurricane North Carolina. Here you go,

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here's a seven hundred and fifty dollars check. We ever

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sending billions of dollars all over the globe to all

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of these countries. It's badly absurd, it really is. You know,

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we we have the capacity to deal and take care

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of our own people here in this country, and we don't.

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Speaker 1: You know, I've explained this. You're not the priority people.

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Speaker 3: You're not.

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Speaker 2: If you were, they would be taking care of you

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with with stuff like this happened right now.

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Speaker 1: They don't. You're not the priority.

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Speaker 2: The military industrial complex is, the defense contracts are, and

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obviously they're friends overseas exactly.

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Speaker 3: Yep.

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Speaker 5: They managed to get taken care of. But the people

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who really needed these storms have just really exposed the

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scam of the federal government. Uh So, when we have

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this talk a year from now, Chris, where's the country

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going to be?

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Speaker 1: Boy?

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Speaker 2: Listen, you know, I don't, I be honest with you,

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the way the media works nowadays, especially with politics, I

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have no idea quite frankly, how you know.

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Speaker 1: This is going to turn out.

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Speaker 2: With this election, You're basically looking at Donald Trump and

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God willing, you know, I'm casting my vote for him.

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Speaker 1: I've always been.

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Speaker 3: I mean, in.

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Speaker 1: Twenty sixteen, he wasn't my choice, Rand Paul was.

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Speaker 2: I've always been, you know, the libertarian type, you know,

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a big ramd All guy. But you know, to me,

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he's the better choice in my opinion at this point

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in time. Or you're getting, you know, get Kamala Harris,

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you're getting Obama's fourth term. It's Obama's fourth term. Yeah,

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she's not running the country. We come on now, I mean,

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just be serious, She's not. It's you know, the Obama crop.

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Speaker 5: Yeah, it's it's the military industrial complex and the intelligence community.

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I see that are running the country. Because yeah, that's obvious.

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So scary times, Chris, just tell us.

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Speaker 3: Where do we find you? How do we connect with you?

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Speaker 5: Your podcast, your website, all that good stuff.

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00:19:26,200 --> 00:19:28,119
Speaker 2: Easiest way to do that is to get to my

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00:19:28,200 --> 00:19:32,200
website at Watchdog on Wallstreet dot com. I can subscribe

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00:19:32,200 --> 00:19:35,000
to my podcast there and all the other stuff that

401
00:19:35,119 --> 00:19:37,200
I have. Get to my YouTube channel, all sorts of

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00:19:37,200 --> 00:19:40,079
great stuff. It's Watchdog on Wallstreet dot com.

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Speaker 5: All right, excellent links in the show notes to this

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00:19:42,680 --> 00:19:46,480
interview on Financial Survival Network dot com. When you're there,

405
00:19:46,799 --> 00:19:49,279
please sign up for your free newsletter. We got over

406
00:19:49,440 --> 00:19:55,000
forty thousand subscribers now and keep adding more one thousands

407
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every month. Appreciate you coming on, Chris. If you've got

408
00:19:57,559 --> 00:20:01,319
a question for Chris, myself Emi l k L at

409
00:20:01,359 --> 00:20:02,640
Carrie LUTs dot com.

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Speaker 3: Chris, thanks so much. We'll talk to you again soon.

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Speaker 1: Pleasure.

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00:20:05,440 --> 00:20:08,559
Speaker 4: Thanks for having me, Thanks for listening to Carrie Letz's

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00:20:08,559 --> 00:20:13,559
Financial Survival Network, your solution to today's trying times. For

414
00:20:13,680 --> 00:20:18,480
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