Speaker 1: What obligation do Christian parents have in the you will
own nothing and be happy world to their kids? What
obligation does they suppose that the Christian nation have to
the world. And would there be a better way to
raise housing prices than what the new mayor of New
York intends to do. We'll talk about this all was
Zach Abraham, Chief Investment Officer Board Capital Management, And we'll
get started with the good graces and help of God Almighty.
Speaker 2: The Todd Herman Show is one percent disapproved by big
pharma technocrats and tyrants everywhere from the high mountains of
Free America. Here's the Emerald City exile Todd Herman.
Speaker 1: Today is the day the Lord has made, and these
are the times to which God has decided we shall
live in. Joining us from the western parts of the
separate country of Washington State, far off an island protected
from the masses by a massive wall made of gold
and something else titanium going through check check.
Speaker 3: Joe, And yeah there's some silver in there too, Okay, yeah,
I And and if I if all of a sudden,
I just have to take off in the middle of
the interview. It's because Ferguson's guns have showed up for me,
So I just if I've got a jam, you know,
I might have to go work in the in the
in the rock Cory for a few years.
Speaker 1: That would be Bob Ferguson your new dictator who.
Speaker 4: Yeah, well I call him dear Leader, but you too?
Speaker 1: Do you know what people call him? Because of all
my years and radio there.
Speaker 4: Can we say that on the air?
Speaker 2: Yep?
Speaker 1: Sideshow?
Speaker 4: I have a public and private name for him, right.
Speaker 1: Yeah, you know people call him side show Bob right.
Speaker 4: Yes, I yeah didn't didn't you coin that?
Speaker 5: Yeah?
Speaker 1: Yep? I sold that from a guy, but then I
I got permission to steal it and I started to
use that. He's been called that at public events and
it really really drives him crazy.
Speaker 4: Well you can tell he's one of those cats.
Speaker 3: Yes, every little thing gets under his skin and he
wants to be taken serious because the jocks picked on
him in the locker room when he was in high
school and now it's time for his revenge.
Speaker 1: Yes, No, he actually has a list. His staff has
admitted that he has a list. I'm on that list.
I'm way down now that I've moved out of there,
but I was on that list. He made a run
at getting me fired. So when you're joking about him
coming after you, you just made the list. Bring it first,
figure out where I live. Now, speaking of bosses, I
want to talk about housing, and I want to talk
about a movement. That's it's man, it's it started with
a few men, fathers talking about this. Now this thing
has been trended on Twitter x a few times and
it's about normalizing purchasing houses for your kids. But I
wanted to start here. This is from the campaign. This
guy's now announced. Zoron mcdonnie has now announced that they
are going to begin buying up homes from the private
markets in New York City.
Speaker 5: So further toward the Vienna model, we'll have to go
beyond the market. We can establish community land trusts to
gradually buy up housing on the private market and convert
it to community ownership. We can give tenants to write
a first refusal to buy out their landlords when buildings
go up for safe and we can fully commit to
a new era of social housing, ending subsidies for luxury
housing development and using our wealth to build beautiful, high
quality social housing projects that offer good homes and strong
communities to everyone. We won't decommodify housing overnight, but we
know what we have to do, and we have history
to guide it.
Speaker 1: All right, I'm just going to shut up because your
physicality there was pronounced.
Speaker 4: So I've got two words for him. Yeah, briny greens.
Yeah in Chicago.
Speaker 3: Yeah, this was that beautiful, nice, you know, dignity yielding
housing project. They got taken over by the drug lords
so much so that they filled the elevator shafts with
human excrement. Yeah, okay, So show me an example of
a community owned housing project that looks good eighteen months later,
that people are taken care of, that does not become
a den of iniquity. Now, the one thing I will
say about what he said is, I do think it's
kind of like you and I have talked about Todd,
where where we have gone to such a ridiculous place
in society that there's no nuance left. Right, So are
there things that we can do? For instance, do I
have a problem with a process that gives current tenants
the right of first refusal of sales in a condensed
period of time? So get them time to you know,
maybe it's ninety days. Give them a notice I don't
have a problem with that, and I think that's actually
a fine rule. And the reason why is it saying, hey,
you're a stakeholder here. Well, you're not really a stakeholder,
but you're here, you're living here. We're going to give
you the first shot. But here are the parameters. We're
going to get three separate bids, three separate appraisals, we're
going to average them together, and you get a shot
to buy it at that price.
Speaker 4: That's the deal. But but that is not interfering with
free markets, right, and.
Speaker 3: It also has to have some It also has to
have some protection from for the owners in there as well,
because they can't get hamstrung by this. Yeah, but when
you talk about got see, here is the problem, and
this this is the and I'm not I know, I'm
telling you nothing.
Speaker 4: You don't know. But any time, what you need to do,
if you want to make these changes and you want
to make quote unquote housing more affordable, is you need
to change the incentives, not have government step in there,
because government is not driven by profits, which means you know,
you and I have talked about this million times. It's
really hard to run a business, manage costs, manage capital planning,
do all this stuff and generate a profit. It is
impossible if generating a profit is not the goal, right, Yes,
And that's why it's not that they're evil. It's not
that they intend poorly. Like like I said, well, I
think he I think the idiot.
Speaker 3: He's an evil idiot because he's thirty three, he's a
he was never had a rapper five years ago.
Speaker 1: He's never had a shop.
Speaker 4: It's a clown show.
Speaker 3: It's like the it's it's it's like the more on
the They the head of the knitting knitting committee.
Speaker 4: And I'm not knocking on knitting.
Speaker 3: I love it, by the way, but but it's like
they higher the net ahead of the net knitting committee
to run the city of Seattle in a multi billion
dollar budget. And and and the equivalent I said is,
I'm sure it's a nice person. But here's where we've gone.
We got a fleet full of broken down buses and
somebody's yelling, quick.
Speaker 4: Call a cook.
Speaker 3: Right, Well I thought we had broke down buses.
Speaker 4: Yeah, but they're a really good cook.
Speaker 3: Yeah. Look well okay, right, And just it's just the
silliness and the stupidity of it. And when government gets
in there, who is not incentivized by prophet, who is
not incentive to allocate capital.
Speaker 4: As a matter of fact, when they're telling you this,
what government is saying to you is that we are
going to bid up prices and we are going to
allocate those resources in an extraordinarily uneconomical way.
Speaker 3: Yep.
Speaker 1: And people, that's what they're saying exactly. And people who
know that government's coming in to buy this stuff, they
know that, and they'll send that signal to the marketplace
and you'll have this outflul of people. But that's now. See,
this is not, as you know, in a vacuum. Did
we talk at all about the series catalog houses? I
don't know, Okay, So I got to tell you about
this in a second, because this is where I wanted
to talk with you as a Christian and a guy
who leads your family in a Christian way, and a
guy who's been successful with money and other people's money,
but has been through the hard times. Because I look,
there's hard times coming for young people in this country economically,
and it's unavoidable. We can do the sugar high thing,
et cetera. But I'll tell you why I want to
talk about the Sears houses in just a second. Hey,
we have a quick opportunity here. I want to tell
you about this. We've been begging for a movie to
be made about Anthony Fauci. I don't know how many
times we banged the table. Is HBO going to do it? No,
they didn't do it. I don't know. Maybe you'll have
sixty minutes at least go and look into them. No,
that didn't happen. What about a lifetime you know, Hey,
Timy Fauci wants his baby back. No, it took Angel
Studios to go out and make Thank You, Doctor Fauci,
And it didn't come without a cost, a couple of
years of research and then being threatened by one of
the most mobbed up attorneys in all of Washington, DC Cat,
who's represented three former presidents, now represents Fauci and still
Jenner First and his team. Jenner's an award winning filmmaker.
They wouldn't stop. They refused to stop. They got the
movie put out despite the pressure, and we learned some things.
For instance, this we're probably still to this day paying
double agents who work for the Chinese Communist Party to
spy on us and they spined them and it's a
bio arms wear race. That's what this is maybe all about.
And then there's the funny thing about the polio and
aids tie in into the design of the virus and
the design of the injections. That's weird. Go watch this
movie immediately called Thank you, Doctor Fauci, It's Angel dot
Com slash Herman, and join the Angel Guild. You get
to vote thumbs up for this movie. They'll make more
like it or distribute more like it in working with
guys like Jennifer's It's Angel dot Com slash Herman. So
Zach Abraham, you sit atop a pretty big organization, BORT
Capital Management, big in terms of taking care of people's money,
starting wealth, and I wanted to run this past you
as a Christian man, as a guy who raises his
family and leads his family, and I wanted to start here.
Did you know that you used to be able to
buy a complete home from the series catalog seventy thousand books?
Speaker 3: Yeah, the meaning you said that, I remembered that, Yeah, yeah,
And that was like, wasn't that like the seventies a little?
Speaker 1: I think it was a little earlier than that. In
the sixties, fifties, sixties, but you could purchase it co
complete home seventy grand. And that's for adjusted for today.
That's that's inflation adjusted for today, what it would cost
you seventy grand. And I'm talking about a five bedroom
home with built in cabinets, bay windows, wiring. I mean,
they shipped this tough to you, and families could put
this stuff together. It was so well labeled and set
up you you as a family could place it on
the foundation and build it. There's a neighborhood in la
where there's still about ten of these houses and people
live in them to this day. So enter into this
hoas obscene zoning regulations, obscene building regulations meant to enforce
the on site builds, the value added attacks. On top
of everything, that seventy thousand dollars house that's adjusted today,
You got those house kits, Zach, six maybe eight grand
inflation adjusted dollars seventy grand, and and you had these
family houses that last to today. We live in a
time where I have young people come to me all
the time, Zach saying, and I'm talking smart, capable young
people saying, the only way I'll ever have a house
is to buy cheap land and build it with my hands.
And I have people who live in cities. Young people
live in the cities say I'll never own a thing.
And there's a movement of Christian dads and they say
that we should normalize purchasing homes for our kids. My
economic mind says, oh great, so we'll bring the home
prices up further. My Christian mind says, do I really
want to teach my children that they need me to
fish for them? As an economics guy and as a
father Christian guy, how do you view this?
Speaker 2: So?
Speaker 4: Well, let's let's let's separate it.
Speaker 3: So let's look at the economic side and then the
Christian side, and then I'll kind of give you what
I think.
Speaker 1: Can we do that? We can't separate christ for money?
Speaker 4: Well? No, but so like, so let me put it
this way.
Speaker 3: Okay, I'm going to give you the purely mathematical number. Okay, right,
because and the reason I'm splitting this apart is all
too often I see Christians when it comes to issues
about money and how to allocate their capital. God is
a footnote, right, if he's even a note at all. Right,
It's like I'm gonna do all these things. Well, yeah,
but this is business, yeah right right, where I'm like, what,
pardon it's if it's business and it's important, he should
be front and center and not front and center because
you need to be a good Christian. But take it
from me, front and center if you want it to work.
Good luck, Good luck, especially if you're a Christian. One
of the things I learned in my life is because
I was not doing things correctly. Because he loved me,
he wasn't gonna let me pass go.
Speaker 1: So right, He's gonna hold you up from success because
you are not being a wise steward.
Speaker 4: Because he loves me.
Speaker 3: Right giving your Giving anybody something when they have not
earned it, or they have not acted accordingly to the
set of expectations that yield that result, you're.
Speaker 4: Not helping them eat. What is more important?
Speaker 3: Is it more important for the world to look at
our children and tell them they're economically successful, or is
it more important for us to teach our children the
lessons to be the people that they're supposed to be.
If we truly believe in God and we put him first,
are we concerned that our children won't have somewhere to live?
Speaker 1: No, because the sparrows of the fields, and and what
can you add with you know, to your life? One day?
Speaker 4: You know it dresses the lilies, right, dresses the lilies? Right?
Uh so what what?
Speaker 2: So?
Speaker 3: Now we've got to seize the wheel. I learned a
really important lesson in the last two years of my life.
Speaker 4: I got. I got.
Speaker 3: I had a government agency come after me on completely nonsensical,
trumped up garbage comment, just garbage.
Speaker 4: We had we had the minute it started. We had
third party record, third party records.
Speaker 3: From fortune five hundred companies that backed up one hundred
percent of our story. They ignored it. It was a
witch hunt. We don't really know why. There's thoughts that
it could be, you know, that could be politically motivated,
all that.
Speaker 4: Whatever. My point in saying is, I made a big mistake, Todd.
You know what I did.
Speaker 3: It was the first time I felt like my business
was under threat and I grabbed the wheel. I was like, hey, Jesus,
thanks forgetting us here. Hop in the back set. I've
got this right. Eighteen twenty months later, I can't sleep,
I'm miserable, my wife is ticked off at me, I'm
barking at employees, and I wake up, and I'm like,
why am I so miserable? It's because I'm attempting to
control something I cannot control.
Speaker 4: Period.
Speaker 3: I'm not leaving it in God's hands. So do you
think that you care more about your child than God does?
Speaker 4: Okay?
Speaker 1: Okay. See this is where people can push back, and
young people will say, okay, Zach Abraham, Okay, guy who
builds up over capital, Okay, you've got yours, You've got
your nice house. God has rewarded you, and they won't
hear all the other things about Yeah. No, no, but God's
only rewarding me because they become a good steward. I
become humble. I understand. I don't do anything without the Lord.
And so you're gonna get that pushback. You're asking me
directly as your friends. Okay, I'm convicted. I stand convicted. Okay.
I look, I watched God do miracles of my daughter's
live Zach, often working through my wife, who has been
miraculous in her refusal to give up or to bow
down to pharma, et cetera.
Speaker 3: So I love that about good women. Man, they dig
in the hills man, thank God for it.
Speaker 2: Yeah.
Speaker 3: Absolutely, So one of my I'm not saying no, though
I'm not saying I'm not saying don't help at all.
Speaker 1: I heard you, So okay, I just want to finish
this formulation that I pray to God, Lord, I trust you,
and where I don't trust, help me trust.
Speaker 4: Okay.
Speaker 1: So yes, I am imagining. I'm looking at this movement
of men saying normalized buying houses for your kids. So
I would view this and say, as a Christian dad,
my daughter's pursuing a career as an artist, so long
as she's actually working at it, and I mean working
at it, pushing to sell her art, supporting herself in
a job that's maybe not art or art adjacent, she's
making this forward progress. I can see as a Christian
dad me coming along and saying much has been given me,
much as expected. If I have tithed, if I've taken
care of my direct family unit, my wife and I
and have been a good steward in that sense, and
I'm building the kingdom, then yes, I can reach into
my pocket and say I will help you with a
starter house and it's mine, and tell it's yours. So
maybe it's a it's a least to rent or a
rent to own arrangement with her on a legal basis.
So maybe it's that.
Speaker 3: Yeah, no, no, So I was gonna sit there and
say yes, I didn't say don't help.
Speaker 1: Yeah.
Speaker 4: Maybe, but maybe it's putting down.
Speaker 3: But here's the one thing what I would tell you is,
like with anything else in life, like you were talking
about your daughter, the goal goal should not be to
get them a thing. The goal should be to make
them a good person that loves God, meaning, don't do
any of it. If they're not making the right decisions,
don't do any of it. If they're choosing to take
money and go on vacation and go buy this, and
go buy that, and go buy a five hundred dollars purse,
and now they go can't afford a house, We're like, look,
you wouldn't have been able to afford a house in
nineteen ninety seven because you make poor decisions. Right, So
if I, if I anesthetize the pain of those bad decisions,
I'm not helping them. However, if my kid is hustling
and busting their hump, would I step up and go
here's the deal. Look, we're gonna do a little deal together.
I'm gonna throw a down payment down on this house. Well,
let's go through your Budgetlet's figure out what you can afford.
All right, here's what the mortgage on this place would
cost you. Here's what I can rent. You're gonna make
up the difference on this working around the place for me. Yeah,
you're gonna you're gonna do some landscaping work. We're gonna
paint some rooms, We're gonna do some roofing work. You're
gonna earn this. And when we go sell this at
some point when you need a bigger home, you and
I are gonna be partners on it. But everything that
you're gonna get from this, it's gonna be structured like
a real business deal. I'm gonna recoup my cost first,
and then you know, and then if they do a
great job, obviously we can reward that and give them more.
But this whole idea of giving, I'm gonna buy my
kid at home. Let me let me just tell you
something right now. I understand that things are tough out there,
but think of how bad customers serve. I know, it's
way better in Idaho. My wife and I love going
over to Idola.
Speaker 4: It's like you change worlds when you go over there, right,
But a.
Speaker 3: Lot of these plays, like think it is so easy
to distinguish yourself as a tail kick and you know,
go get her. In corporate America today than it's ever been,
this idea that the roof is closed on young people
and they can't do it. You know, what I hear
from young people. What I hear a lot is well, yeah,
there's that job offer, but it doesn't really represent who
I am.
Speaker 1: I have heard that more often than you would know.
Speaker 4: And I go look at him and go, hey, buddy.
Speaker 3: By the time you're fifty five, consider yourself blessed if
your job represents who you are or fulfills you. Right,
you know the kind of jobs you get when you're
twenty three out of college, you get the jobs nobody wants.
Speaker 4: That's the way this works, right.
Speaker 3: You work in the mailroom and you work your way up,
and if you bust your tail and kill it at that,
you're gonna move up quick because none of the people
around you, none of the competitors know how to work.
Speaker 4: So I am not against helping.
Speaker 3: But like I was telling my boys, me and my
boys try to do this Bible study once a week,
typically on Tuesday or Wednesday mornings. This morning we got
a late jump on it, and so we did a
truncated version. And they were asking me some questions about
Hitler and things like that and what people were saying,
and I said, we were walking through.
Speaker 4: The whole Hitler thing, and I.
Speaker 3: Was using it as an analogy to today, and I said, boys, listen,
we need to be guided by godly principles.
Speaker 4: And the funny thing about those is they don't change
with time. And I go. So we believe Hitler is
a maniacal.
Speaker 3: Murderous, horrific human being that was satanically inspired. I don't
care how the popular opinion turns in his favor to
some degree, even by people that we typically say we're
on the similar side to right because people move with
tides and waves and wind.
Speaker 4: We do not. What is right is right, what is
wrong is wrong, and we ain't changing with popular opinion.
Speaker 3: We will be the rock in the middle that charts
the course and sticks to it again. The greatest gift
you can give your children is for them to see
that faithfulness in God, for them to you know, I
just be in the world, don't be of it.
Speaker 4: Oh, I want my kid to be a good person.
I hope they have at seven figure net worth. Like,
what are we talking about?
Speaker 1: Yeah, yeah, there's there's a question that my pastor asks
parents and he will get these reports of he'll say
to someone they've seen him a while. So you know
that parents come to church and then they move. Let's say,
you know, we've got multiple locations to the church and
so they're not in the main church. And pastor comes,
oh my gosh, you know you've been going to the
campus north locations. You know, how are the kids? And
he'll get this, Oh my gosh, Jenny is finishing her
fourth year at Stanton is a fifth No, that's right,
she's in graduate school. Sam, I've just got a graduate
school looking at it. Me be a doctor. Our son
just came out of the Naval Academy and he's going
to serve for a while and he's he's an officer,
but he's looking really to get into the intelligence services
and bought his first house. Our daughter, our daughter just
bought a vacation place. Here's the fact because her husband
works in there in tech and and my pastor will
sit and listen to that and he'll actually do this. No, No,
I meant, how's their walk with the Lord?
Speaker 4: Right right?
Speaker 1: How many parents do you know that when someone says,
how's your kid? How many parents zach Abraham say, well,
they're not walking with the Lord or praise God, they're
really solid in their spiritual life. Because to me, yes,
that's the outcome we seek. And I look, you've convicted
me during this segment because I am very tempted to
this day to be the lawnmower dad. But that business deal,
that's the right way to structure it. But we're a
nation of people like this. Our nation has been given
much and we're supposedly a Christian nation. Now I say supposedly,
and that most people don't even know what it means
to have a biblical worldview. I mean it's like something
like twelve percent or nine percent of youth pastors have
a biblical worldview. That's a little scary. What do we
as a Christian nation so called? What do we owe
the world as a Christian nation? I mean prayer, caring
for the least of these? Do we owe the world
forourn eight.
Speaker 2: No?
Speaker 4: I mean not technically no, as Christians.
Speaker 3: I mean as Christians that we owe I think when
need passes our path, I think that's the answer, right,
Like I always sit there and people go, funny story.
When my wife and I were first together, it's probably
probably been like a year and a half, two years
we were together dating at this point, and we were
downtown Seattle around Christmas time, doing like a Christmas thing,
walking around with coffees in our hands, shopping that kind
of deal. And we walk past the homeless guy sleeping
in a paper in a in a cardboard.
Speaker 4: Box, and I gave him twenty bucks yep. And my
wife was like, why would you do that? He's just
going to use it on booze?
Speaker 3: And I looked at her and I said, honey, if
he doesn't have if he doesn't need to tie one on,
now pardoner my But but if he doesn't need to
tie one on, I don't know who does. And I'm
also not worried about my gift to this guy driving
him lower.
Speaker 4: He's living in a paper he's living in a cardboard box.
Speaker 2: Now.
Speaker 4: Did I really want him to go buy booze?
Speaker 2: No?
Speaker 4: But my point was that's not up to me.
Speaker 3: Now, are there better, more comprehen ways I could have
helped him and served him?
Speaker 4: Yes, I didn't have time, But that's the other thing. Well,
I'm not given to that because I don't know what
they're gonna do with it.
Speaker 3: You know what, Honestly, I think God cares a lot
more about your heart and a lot more about your
willingness to give. I know for a fact there's things
I've given to where things have been money's been misused.
Does it stop me or hesitate me? Absolutely not. That's
between them. I did my job by having in an
open heart and doing my best to give to and
cover need that crosses my path right period. God didn't
ask me to be a forensic account and to make
sure every single cent was spent correctly.
Speaker 2: Yeah.
Speaker 4: Right, we can get lost.
Speaker 3: In the weeds really easy, especially when it comes to
keeping an extra diame in our pocket.
Speaker 4: Isn't that funny how that works?
Speaker 2: Right?
Speaker 4: Responsibility?
Speaker 3: When it comes to tithing, we're busting out the magnifying glass,
We're checking everything right. But when it comes to buy
in that new BMW five series, no, I don't think
about it.
Speaker 1: I gotta have the leather seats. Well, of course, I
mean the cold those cost seats. First of all, they
get sticky in the fake leather. It never works. The
heater and then I get the small on my back,
et cetera. You know, I guess I look at this,
this responsibility, this way A great way, he said, it
was when need crosses your path, and the other is
just a check at the end of the day. And
I use psal I'm twenty six for this beginning and
end of the day very often to see if I'm
walking in righteousness and in God's integrity, and then to
step back and say, did I go around someone's deed
or did I serve it? In which you said very
very well about raising our kids to stand on the
solid work of rock of God rather than make sure
they've got five bedrooms in their house. But look, it's
a spiritual war, and we recognize this, and this is
a time where we hid into a Christmas season recognizing
the birth of Christ. And obviously that's a big thing
in your family and ours as well, our friends, mutual
friend Tim Krukshank. Oh, by the way, can you see this?
This is can you see this?
Speaker 2: Oh?
Speaker 1: Here, I'll put it up here. Can you see this?
It's Santa I love that.
Speaker 3: I mean, I wish everybody, I wish everybody could get
a chance to meet him, because Tim.
Speaker 4: He was like a CPA or a state farm an agent.
You know what I mean, right, You'd never know, You'd
never know.
Speaker 1: Yeah, he's talking about Tim Krukshank, founder and CEO bone
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Tim was a medic with the Seal Teams and a
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I use that Christmas easy button. So zach with with
this responsibility as a nation to the world, what is
our responsibility to ourselves? This is a tough one, dude.
I'm sitting ready and I know I don't know if
you do you pay your taxes yearly? When do you guys? Okay, quarterly?
All right, so I do it yearly. And you know
that feeling you get where you maybe you guys auto
sign these things so you don't have to touch them.
But I open that envelope from my account and I'm like,
I'm choking, and obviously I have a pretty good idea
of what it's going to be, but I'm choking him
and looking at this and I will put that off, Zach.
I've had that envelope for twenty days. I know, Oh,
I have to pay it. I don't want it to
be late. I know I'm gonna end up FedExing it
because they can't bring myself to do it. And the
only reason I do it is because Jesus is watching me,
and Jesus is saying, hey, by the way, I don't
know if you know this, but Rome was pretty corrupt
when I walked the earth and I told people to
pay their taxes. And my question is this, and this
is a dangerous line to walk. I always want to
be careful on this. Is there ever a time you
could foresee for yourself where there is a law passed
and you have to look at this and talk with
your wife and say, we can't we can't fund this?
Speaker 4: Yeah?
Speaker 3: Yeah, And but my answer to it is to if
it gets to that.
Speaker 4: Point, to try to move because render to Caesar.
Speaker 3: What is Caesar's And again, I just, if that's the
law of the land, then leave that land.
Speaker 4: Yeah, And where are you supposed to go?
Speaker 2: I don't know.
Speaker 3: I I just but but again I just I think,
and and when I say this, Todd, I am not
at all saying that I've got this all sorted. You
said I convicted you, You convicted me, And I'm forgetting
exactly what I was gonna I was gonna or talking
about how often if people ask you how your kids
are doing, I don't sit there and first think about
their walk with God and how that's going on. Football, yeah, probably,
and more content. And I didn't even think about that
until you.
Speaker 4: Just said it.
Speaker 3: So I'm not But when I'm when I'm saying this,
I'm not saying, hey.
Speaker 4: Do what I do because I've got all this stuff
figured out.
Speaker 3: I don't have it all figured out, and and but
I do know what's right and I know what we're
supposed to do because it's right there and doesn't mean
it's easy. But yes, I think that there is absolutely
a time where you go, hey, I can no longer
be a part of this, and but you need to
make a change, and breaking the law is not the answer, right, Yeah,
moving yourself from that or figuring out a way out
of it legally or something like that. Because the flip
side is you don't want to mess with you. I mean,
they're gonna get theirs, they're gonna get you eventually.
Speaker 1: No, I agree with that. I've told my countant I
want to be very conservative because they don't want to
mess with them, because they will take the pound of flesh.
Do you know the very famous Rushilah mos story where
they tried to threaten him off the air and Obama
was taking out these billboards around the country telling people
to demand Rush be taking off the air and called
the radio stations and they were putting up magazine ads
and web ads. It was this huge thing.
Speaker 4: Yeah, I don't remember that.
Speaker 1: Oh yeah, it was when Rush called Sandra Fluck the
S word describing female promiscuity, S word, and so he
said this. They launched this attack and Rush goes to
his radio show and I'll never forget this. I was
listening as a listener. I'd never at that point Matt
Rush and he gets on there he goes, listen, I'm
not unaware of these billboards, and you people need to
hear this. Prison Obama. I've read the book and I
understand it. Pick a target, isolated, cut it off from
its support base. And the problem is you people don't
know what my support base is. You think it's my advertisers.
It's not. It's my audience, and you can't separate us.
And this is the part you'll love. I've spent my
lifetime preparing for someone like you. I have a place
I can go in an untracked flight, I'll never be found,
and I have capitalized there I'll be plenty comfortable. So
prior to having to do that, understand, I don't fear you.
So why don't I fly up to Washington in DC
and meet Wait, no, hold on, why don't you fly
down here in air Force went or no, let's do this.
I'll send EIB up to get you because it's a
nicer airplane. And on the way down, I can talk
with you about what it's like to be able to
afford your own airplane, and we can go have dinner
here at the estate, and I can show what it's
like to have chefs who actually work for you, and
I can explain to you why I don't fear you. Yeah, Zach,
that week the ads were pulled, the billboards were gone.
Speaker 3: Yeah yeah, because it's yeah, it's a way, it's a
waste of time and it's bad press.
Speaker 1: Right, And I asked someone really close to Rush, was
that true? I mean, I know he had all the
private jets. I know he had at least two. Did
he have a flight plan in a way to get
out of the country. And this guy who knew Rush
as well as nymy in the world said, in a
moment's notice.
Speaker 4: Huh who you'd have to? You'd have to.
Speaker 3: And like I said, I'm not alleging, I'm not alleging
political motivation. But if you have ever had a government
agency lean on you with their full weight, yeah, it
changes the way you look at the especially when you
haven't done anything wrong. That's the creepy part, because you
know so many of us go through our lives and
I've told every one of our employees this, Hey, guys,
do the right thing by the clients, buy the letter
of the law and by morality, and we never have
anything to worry about.
Speaker 4: And it's worked great for me.
Speaker 3: I've been doing this job for eighteen years, had a
securities license, by the grace of God and wonderful clients.
I've never even had a client complaint. Did that stop
them from coming after me?
Speaker 4: Nope? Did Were it client? Was it client complaints or
missing money that made them come out for me? Nope? Nothing.
Speaker 3: They didn't have and you don't need it, And so
the more visible you get, I understand that I haven't
done anything near that drastic, but I understand where he's
coming from. And like I said, it's a feeling you
can't really describe until you're in it.
Speaker 4: Yeah, I think you can imagine it, but.
Speaker 3: It's just much more it's much more scary because there's
no there's no laws, there's no limits. Right, you're playing
in a gray area where they they can keep they
can keep doing it, and technically speaking, that agency could
keep coming after me and burning me for legal fees
even though there's nothing there.
Speaker 1: And they that's the thing is they don't have a
they don't have a cap on their budget for legal fees,
and the process is the punishment. There was a guy
who was a drug dealer and everybody knew he was
a drug dealer, and he used to cross the Canadian
border as a drug dealer. And my friend's best friend
of the world, his uncle worked on the border, and
they finally caught this guy and they figured out that
he was hiding drugs in the open cylinders of v eights,
So wow, yeah uh, And they learned this and he
was traveling with a buddy and When the buddy got there,
he's like, okay, I confess. All I have is the money.
All they have is money. And they said, oh, thanks
for telling us that. We're turning your car apart. And
they took his car apart all the way down to
the cylinders to pull them out to make sure there's
no drugs in there. And they get done. They go,
all right, no drugs, it's just the cash. And here's
the you're you're going to be have to come to court.
You got to be witness. We're going to detain you.
The mail driver. Your wife doesn't have to go. And
the guy said, he goes, are you gonna put my
car back together?
Speaker 3: No?
Speaker 4: No, no, you know the irony they don't have to do. Yeah.
Speaker 3: So they're they're look, you know, they're they're looking out
for the clients, all that kind.
Speaker 1: Of stuff, right, Yeah.
Speaker 3: Uh. Them coming after me resulted in a company that
my clients are invested in having to pay over one hundred.
Speaker 4: Thousand dollars in legal fees to respond.
Speaker 3: So the irony in all of this, yeah, is clients
were damaged. They were damaged by the government, right right,
because the government's well got to pay that you're like, okay,
they invested in that company. If they've got to cover
one hundred thousand dollars legal fee, whose money is that?
And they don't care, no that they so so in
all of this, clients got money taken from them, but
it wasn't us.
Speaker 4: Who wasn't It was them?
Speaker 3: Yeah, And it's just like I said, uh, and then
they tell you, and then they tell you you better
not talk about this.
Speaker 4: On the radio, literally this radio on everything. Oh yeah,
oh yeah.
Speaker 3: And I went and they said you better not tell
your clients, and I went, think about that, Think about that.
Speaker 4: They're telling me not to disclose.
Speaker 1: Wow.
Speaker 4: Crazy, but like great, I'm supposed to disclose.
Speaker 1: Everything, right, any conflict.
Speaker 4: Yes.
Speaker 3: So I called my attorney and I go, I want
to I'm getting all my no, I told my office manager,
I'm getting all of our clients on. I'm telling them
right now, so they hear it from us first, right No, Nope, lawyer, Nope,
can't do that.
Speaker 4: They'll come after you. Wow, it's crazy.
Speaker 1: So you can talk about it in this sense, but
not in a specific sense.
Speaker 3: I'm talking about it in a way that I was
told not to. And I don't care because it's right
and again I don't. I don't worship with that althar.
And if that means more expense and more stuff thrown
at me for speaking the truth, and so be it.
Speaker 4: And they can come after me.
Speaker 3: But what's right is right, and people need to know
what these people do and the way that they don't
need any proof, they don't need anything, and they don't
need a reason. Yeah, and not finding anything, even exonerating
you doesn't end it necessarily.
Speaker 1: Know when you don't get any of your money back
or your time back, or you're worry No. So to
wrap this up in a way because it's a new
regime in a way, it's a new leadership. And there's
good things President Trump is doing. There really are. The
border enforcement's been incredible. Someone asked me an interesting story
to ask you about this in a second, with President
Trump and the enforcement of the border. I had to
think about this and pray about this. And then I
also want to get you the Scott Assent quote real quick,
because this is just Zach Abraham right right down the middle.
One of the quick thing on Christmas, guys, make this
the Alan Soaps Christmas. This is an old likelihood John's
last Christmas on Earth, he's going to the Lord. That's
not a reason to buy the soap. It's this is
not a charity, it's a business. It's the world's best soap.
It's made in America. It's all natural, absolutely no chemicals
in this soap whatsoever. It is a company that employs
people the rest of the world would kick out, would
never employ. But it is a Christmas gift beyond Christmas gifts,
because you get an opportunity to talk about all lives matter.
You get an opportunity to talk about Alan, how he
works there despite the fact that he can't really speak.
You get the chance to talk about John's confidence in
going to the Lord, even as he is now probably
gonna have his last Christmas as his family. You get
to make the difference between great, big companies who simply
don't care about our values and a soap company that
has hired a family that's done this for three generations
to make this soap. It's the simplest possible thing that
it's the brilliant stocking stuffer, a subscription for your kids
to live away from house, easy, easy, no brainer, Christmas gifts,
and the liquid sof your businesses. It's Alan soaps dot
com slash Todd. Let me get to this Scott sense this. Oh,
by the way, hold on a second. Okay, so I
knew this. Oh now I know why you got the
fancy new sweatshirts. Oh okay, now this makes sense. This
is Scott bi sense.
Speaker 6: My worry is that the FED is turning into universal
basic income for PhD accounts.
Speaker 4: Right that.
Speaker 6: I don't know what they do. They're never right. If
if you were to me, you.
Speaker 1: Should double the number of PhDs, if you go to
seven hundred, they might get it right.
Speaker 6: Well, look, I mean if you were to look at
the central value tendency versus how they've done, it's shocking.
Speaker 4: It's shocking.
Speaker 6: I said, like if air traffic controllers did this, no
one get in an airpline.
Speaker 1: It's really really a good line. Is any of it hyperbolic?
Speaker 4: No, not at all.
Speaker 3: Their forecasting record is local weathermen do a better job
forecasting the weather. It's awful, right to the point, and
everybody remembers this. But this is a classic example. And
I I mean, we could sit here all day long
and throw example after example, but I'll go back two
thousand and six. Ben Bernanke testifying it in front of
the Senate you do or no Senate Financial or whatever
one of the committees.
Speaker 4: The issues in subprime have been contained.
Speaker 3: And fifteen months later Lehman Brothers blew up, you go
to what about At the end of twenty twenty one,
inflation is transitory. Guys like me were waving, you know, hands,
going what are you talk what are you talking about?
Look at the money supply. Inflation's not gonna flatten out
till the money supply quits going up like a hockey stick.
And what ended up happening. And we were sitting there going,
we think it's going to eight to nine?
Speaker 4: Where to go? That's where it went right, just looking
at it's.
Speaker 3: The other thing people need to realize is the FED,
by definition, is a political body, meaning they're not incentive
to give it to you straight.
Speaker 4: If the FED looks at you.
Speaker 3: And tells you and I think you and I have
talked about this before. But if the FED looks at
you and this is the Fed's official policy, they would
look you dead in the eyes and tell you the
price of cars has not gone up in thirty years.
Speaker 1: Wait, David, say that.
Speaker 3: Yes, And they use hedonic adjustments to do it so.
So A great example of this is a cell phone. Okay,
so look at a phone in the nineteen in nineteen eighties,
what were people paying maybe ten eleven, twelve bucks for
their house their phone.
Speaker 4: Bill, right right?
Speaker 3: Okay, Well, if you look at what the average family
is paying for a phone bill now I'm not sure
what it is, three foreigner bucks.
Speaker 4: My wife pays those, but three four inner bucks. Right.
Speaker 3: People could say that's all inflation, it's not. Look at
what my phone does now, right. My phone enables me
to do video conferences, sign deals, watch my stock count.
The amount it's giving me is incredible, So we should
not look at that increase in phone expense as straight inflation.
Speaker 4: Okay, but flip to cars, and the FED goes, well, yeah,
but look at all stuff the car hasn't it now
compared to what it didn't And I go, does that
car do a better job at its primary function than
it did thirty years ago, which is get me to
my job and home?
Speaker 3: No, it does not, right, as a matter of fact,
because all that stuff's gotten in there. Consumers don't have
the ability to opt out of those ridiculous prices, and
they're forced to pay them and so there, it's not
completely dishonest, but they take this one thing and then
roll it to something else. And what I mean by
that is, if you've got to pay eighty thousand dollars
for a family car today that has you know, self
driving video screens in the back for the kids, all
the bells and whistles, all that kind of stuff, does
it improve your economic standing or your economic wellbeing versus
the car you could have bought twenty five to thirty
years ago for twenty five to thirty grand. No, as
a matter of fact, it makes it worse because the
price of the car has gone up multiples more than
the average income has.
Speaker 4: So it's just nonsense. It's complete nonsense.
Speaker 3: So the way they calculate CPI, and that's one of
the reasons the CPI number is so low, they've effectively sucked.
Speaker 4: Car inflation out of it.
Speaker 3: Right, So when you're sitting there going you know, and
I don't know if you saw the retail sales numbers,
but a perfect example of this, they tell us, right now,
we've got three percent CPI the market and CNBC and
everybody's celebrating because retail sales over Black Friday, we're up
seven percent year over Herekay.
Speaker 4: You know what they didn't tell you. Volumes were down
one percent, So what is that?
Speaker 3: That's seven percent inflation, not three, right, And we can't
hedonically adjust our way all the way down to three
because it looks good and it feels good.
Speaker 4: No, the Federal Reserve is a joke.
Speaker 3: And if you want to go look at even more
proof of that, go look at the stability of the
dollar from the end of the Civil War. Right, let's
start the clock in eighteen seventy, roll it through to
the founding of the FED in its.
Speaker 4: Modern form in nineteen fourteen. Go look at the stability
of the dollar. You literally had no depreciation in the
dollar for a fifty year run with no Fed in place. Minute,
the FED takes over boom, hockey stick downward.
Speaker 1: Crazy.
Speaker 4: So so, but here's the thing. It has to work
that way.
Speaker 3: And you and I have talked about that because what
does what does monetary policy become? Monetary policy has become
a way of anesthetizing the pain of earned outcomes.
Speaker 1: Right, It's what we talked about it at the very
beginning of the program. We're never going to let you
feel the pain, right, yep, Right, So you might have
gang green. We're going to keep you comfortably numb, right,
comfortably numb, in the words of Pink Floyd's. And you
might smell some gangreen, but we can put some stuff
on your beak too. We'll just put some fresh minty
oil on your beak. It won't smell the gang green.
Speaker 4: And you well, so, no, I was gonna throw I
was gonna throw that in there.
Speaker 3: I cannot tell you how many times client will walk
into our bathroom and walk out and they're like, man,
that smoke soap smells good.
Speaker 4: They say it all they say it all the time.
So yeah, people go buy it. Man, it's really good.
Speaker 1: One of the funny things you told me once is
you had a client came in. There were prospects now
yet a client came in to see you, and they
loved your approach, that you children what you're gonna do
for them, and they said, okay, we're ready to sign,
but one thing, I need to see your bathroom, and
you're like.
Speaker 4: What and coffee?
Speaker 1: They went coffee, bathroom and coffee, and you're like okay,
and they went and they it confirms Allan's and bone froggy.
It came back okay, And they said, didn't They say,
if it wasn't there, we were gone.
Speaker 3: Yeah, yeah, because and and the guy basically said later
he's like, hey, if people lie about small things, all
lie about big things.
Speaker 4: And I agree, that's cool. I agree.
Speaker 1: Okay, there's not enough real time to get into a
substantive discussion. I want to plant a thought in your
mind for next week. This is a big thing to
think about. Someone said to me, they believe President Trump
is a racist. Okay, And they said, in your heart
of hearts, if you knew it was racism that was
motivating his closing of the border and deporting people, would
you still support the policy? And okay, And that was
my instinct too, So okay. So we'll have a further
discussion about this next week because I think there's a
lot there. I appreciate the wise counsel, my brother, thank you,
thank you for opening up, and the views expressed by
Zach Abrahammer. Now this is the Todd Herbert Show. Please go,
be well, be strong, be kind, and please make every
effort to walk in the light of Christ.