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Speaker 1: The fifty year mortgage. Donald Trump's idea. Zach Abraham's response,

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It's as simple of that, We'll do this with the

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help of God Almighty.

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Speaker 2: But Todd Herman show is one disapproved by big pharma

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technocrats in tyrans everywhere from the high mountains of Free America.

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Here's the Emerald City exile Todd Herman.

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Speaker 1: Today is the day the Lord has made, and these

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are the times which God has decided we should live.

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And joining me now, my friend and brother is Zach Abraham,

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chief investment office of Bulverart Capital Management. You gotta get

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yourself a customized wave to the people, because you got that,

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but you know you could be just you should be

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the guy just handed out the beanji something like that.

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Speaker 3: Well, I just I just didn't want to get.

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Speaker 1: None of that.

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Speaker 3: No, yeah, no Nazis do it.

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Speaker 1: So I I don't even know how I can do

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this without I'm not even going to give the disclaimer

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about we're not always going to agree with President Trump.

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I'm not. I'm just going to turn to you and say, Zach,

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is it a good idea to get people believing they

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will ever own a home with a fifty year mortgage?

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Speaker 3: So here here's a really I think it's a nuanced splash,

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and I think it deserves any Okay, So on the

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face of it, no, it's it's not good. It does

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not increase all affordability. It will make it worse. And

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the reason it will make it worse is you cannot

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think about homes in terms of prices. You need to

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think about homes in terms of payments, in terms of

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what in terms of payments meaning if you know, I

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want to say it's about seventy five to eighty percent

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of people in the person's home in this country do

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it with a mortgage, right, So what defines their ability

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to purchase that mortgage or not is not let to

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stick a price to the house, it's the payment of

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the mortgage. Right. And so when you have a situation

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like this where you've got you know, extraordinary recessionary low

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type transactions and residential real estate because of an affordability issue,

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what is most likely to happen then will absolutely happen

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in some capacity and just kind of sit back and

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watch is that Let's say, the difference between mortgage payments

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between the thirty year and the fifty year is it's

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probably going to be right around thirty to thirty five

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percent cheaper. Okay, what I would expect is for the

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median home price in this country to rise by whatever

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that is, whether it's twenty five to thirty five percent,

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I would expect the median home price to rise by

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that amount over the next sixty and eighteen months following the.

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Speaker 1: Release for people, WHOA, whoa, WHOA. Wait a minute. So

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you're saying, I want to make sure I understand this,

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And there's an infographic someone put up that compares the

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thirty year mortgage under Roosevelt fifty years in a Trump

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thirty year mortgage forded in ten thousand dollars house six

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point five percent in just straight thirty two hundred dollars payment,

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total interests paid for than seventy grands, time needed for

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twenty percent equity ninety ninety months, ninety five months fifty

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your mortgage forded in ten thousand, seven percent, three thousand

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and eighty eight payment, total interest nine hundred and sixty

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one hundred thirty dollars, time needed for twenty percent equity

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twenty two hundred and sixty months. And you're telling me

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it's not just that, but the fifty year mortgage would

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increase the price of all houses.

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Speaker 3: No, most likely, you know, most likely at the lower end.

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So I would say, yeah, so let's say your medium

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home price is seven hundred grand. I would expect them

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to you to have it's the biggest impact from by

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like five hundred twenty million dollars right in there. And

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then in the first you get out on the on

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the tails, you would see less and less and less impact.

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But yeah, because because why your transaction is not happening

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right now. They're not happening because there's a lack of buyers,

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right They're happening because people can't afford the monthly pain.

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So whatever percentage that mortgage brings the pain, it's down.

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I would expect median home prices to rise by that

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same percentage because right' it's it's just an affordability issue.

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And so if people are willing to if people can

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afford three thousand dollars, then whatever. So you know, if

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the thirty year was thirty four hundred and now under

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the fifty year it's three thousands, then that percentage I'd

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be about twelve to fifteen percent difference there. The median

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home prices will increase by that much, so you're gonna

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make the home affordability issue worse. The other thing that

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you have to consider in this country is that the

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average mortgage you're going to a thirty year mortgage. The

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average life of a mortgage is ten years. Okay, and

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that's when people roll it, refive, take money out, do

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something this Well, in a fifty year mortgage, they're not

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gonna have any They're not gonna have any equity with contenders.

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Speaker 1: Yeah, that was a brand that this infographic is making.

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I mean two hundred and sixty months and a fifty

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year mortgage, so you have twenty percent interest, so you

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can do anything like that. So let's talk about actually

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lowering the cost of housing here in a second. I mean,

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you don't run policy, but you're a great economic thinker,

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and particularly you know people headed into retirement. I myself,

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I actually fancy no debt and owned the house. But

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again that's me and a lot of people think that's

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a good idea even in retirement. We'll talk about this

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with Zach in just a second. Hey, if you've not

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yet done this, we're gonna start talking about a new

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movie next week with Angel Studios. I can't tell what

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it is. I'm jazz. I can't believe they're the ones.

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Well I do. I believe they are the ones that

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made it. Please don't miss out on Disciples in the Moonlight.

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It's a story of people who are smuggling Bibles in

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the United States because it has to be done, and

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it contained some elements that are super important. One is

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how might the government tend to not ban the Bible

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but actually have it there. That's a very important element.

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Another element in this is how could you smuggle God's

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word on that a digital form because the government will

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z app it. They can tell in this movie they

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scan your phone to see if you have God's word

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on it. They're they're working on stuff like this, so

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how do they get it done? Go to angel dot

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com slash Herman and watch Disciples in the Moonlight. Angel

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dot com slash Herman. Don't just watch, be a participant,

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Join the Angel Guild and help fund movies like this

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Brave costly Christian filmmaking. Angel dot com slash Herman. So

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Zach Abraham, Chief Investments for Borwart Capital Management, I know

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you have a free Lave webinar coming up to talk

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about AI and we need to talk about that and review, preview,

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and I want to get a little bit of a

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sneak peek of what's coming. But how do you actually

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then lower housing prices for people in the United States

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if it's not the fifty year mortgage, because it sounds

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like it's not.

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Speaker 3: No, it's not. So it's not easy. But you know,

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one of them me king for a day. One of

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the first things I would do is I would attack

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rent takee So go anywhere where you have restrictions on

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multifamily health right now, some like this is where you've

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got to be. You can't be you know, you can't

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think like a kid. You can't think like a child.

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There are some of these regulations and restrictions that are

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there for good reasons, most of them, speaking specifically about

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the area that I live in, most of them are

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completely idiotic and are absolutely part of the house affordability issue, right,

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So run those down. The other thing is it takes

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is it's going to require a completely different mindset. Meaning

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if you want to bring down the price of housing,

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you need to make a lot more affordable housing for rent.

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Speaker 1: Right sounds weird, Okay, explain it.

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Speaker 3: That's the the better housing that you can deliver for

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more affordable rents, allows people to build up a down

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pain for a house. Right. Less that rent is more available,

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that rent is the less demand you've got in individual housing,

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which should help on the on the on the price side. Right,

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the lower those rents are, the easier it is for

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people to accumulate capital to save the down payment, reduce

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those regulations, incentivize homebuilders to come in get rid of

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any onerous taxes, things of that nature, and then in

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certain circumstances offer them taxes, incentives and bonuses, right that

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could effectively work into the price of the of the

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housing unit and therefore bring prices down. There's all kinds

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of ways that you could even partner with local governments

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to try to you know, incentivize this, make it less onerous,

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take the pain out of it. But you know, if

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most people saw the stuff that you've got to put

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up with in the permitting and you know, the land surveys,

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and some of that stuff is needed, I would say

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about twenty percent of it is, about eighty percent of

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it probably isn't and eighty percent that isn't needed is

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probably like the most arduous, time consuming and money and

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money you know, destroying part of the part of the practice,

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so a bunch of different ways to do it. And

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the the maddening part of it is that they cry

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about a housing affordability crisis and then you look at

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the policies that they pursue and it's the exact opposite

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of what I'm talking about. And lo and behold, home

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prices keep going up.

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Speaker 1: Yeah, so yeah, and you look at like where we live.

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We had the in North Idaho, we had a rush

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of people from the separate countries, particularly during the lockdown

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sy up the COVID SYAUP portion of the lockdown, So

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we had that going on and we got a whole

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flood of people coming in. We still get people coming

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in from Oregon in California. They think they're fleeing high

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taxation and crime. They don't know they're fleeing a completely

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fallen satanic state. They figure that out when they get here.

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Pray's got a lot of end up going to church.

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So we've seen housing prices go up by There are

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areas of our state that have no basically no building rules,

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and I can take you to them where you can

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buy lands and then you want to go build a

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house go ahead. Other than the fact that we might

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go check the foundation, we're not that interested in how

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you wire it, you know, I mean, you're going to

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live in it. We'd rather you're not burn the place.

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Down There are literally places like that in this in

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counties where it's almost like that, and you can go

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build a six or eight bedroom house for four or

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five hundred thousand dollars on twenty acres and yeah, and

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down here like where there's actual building permits, that house

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would be two million dollar house.

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Speaker 3: You know. The crazy thing to Todd that I've learned

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is that when a guy goes out and buys himself

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twenty acres and builds a half a million dollar house,

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he typically does a pretty good job of making sure

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it doesn't turn down and isn't wired incorrectly. I know

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that's got to be really hard for folks to believe, right,

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but you usually when I see fellows making, you know,

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million dollar investments, they usually do it pretty wisely.

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Speaker 1: I'm a fan of not dying in a house fire,

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right And my wife and I've talked about this, would

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you what would you think of dying in a house fire?

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And we both kind of agreed that no U you know,

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rather not. There are people who fancy that, but it's

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not us.

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Speaker 3: Yeah, smoke innovations always seem overrated for me, you know.

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I mean, you know, I'd rather avoid it if I could.

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I'm not a fan of coffin. You know, the un

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damaged part of it is isn't the most falln So yeah,

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I you know, people tend to people tend to try

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to prevent those kinds of things.

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Speaker 1: There's a website that tracks just about done houses where

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people just got almost done building it. Uh, and then

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they ran out of money and you can swoop in

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and buy this stuff. But you know banks won't back that.

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Do you know that you can't? Yeah, to come in. Look,

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banks could hire you could have a building inspector go

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look at this and say it's well done, but they

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won't if it was there. That's there's a way to

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get more affordability.

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Speaker 3: Well, there's also a phenomenal opportunity to step in and

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be the bank there too.

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Speaker 1: Yes, to be the bank, you know what I mean?

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Speaker 3: Yeah, to be the bank. You're sitting there saying and

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I'm like, really, boy, that would be really because we

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know why they don't, right, what the bank is trying

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to avoid is buying a seven hundred thousand dollars asst

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that ends up being a four hundred thousand dollars asset

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because something was done incorrectly. But like you said, you could,

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especially on an unfinished house, it would be easier to

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figure that howten, even if it was finished. So boy,

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there's an opportunity there.

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Speaker 2: Man.

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Speaker 1: Shoot, what do you guys think in terms of investors

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of these really high end, very cool prefab houses that

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are these kits and you can zach, I've seen some

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of these things that are enormously beautiful. Some of them

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are octagonal, some of them are classic rectangles. There's the

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shipping company how are shipping container houses? And there's a

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company that will build it in seventy two hours. Foundation.

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That's fine if I want to foundation, you do this,

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but the guarantee it's done in seventy two are Some

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of them come with the wiring done. These are as

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close to lego boxes you can get, but they're insulated.

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They're beautiful when they get done. You wouldn't know this

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showed up on a kit. And the affordability in this

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stuff is insane. If again, we got out of some

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of the regulations. But I'm looking at some of these

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houses and I'm one hundred and fifty grand buys you

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a really stink and pretty cool house as a retirement

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house for a couple three people.

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Speaker 3: Yeah, yeah, No, I think that things like that are fantastic.

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I think that things like that are going to become,

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you know, even more widespread, even more prominent. I think

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that things like that provide young folks have an opportunity

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to build some positive equity and move in the right direction.

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Here's the thing that it does bother me, though, If

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then when the fifty year mortgage launches, I just I

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don't see any way it doesn't because it's a natural progression.

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Like we we were saying this yesterday on our show,

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Todd and I think it really the thing that everybody

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needs to realize. Forget about fifty year mortgage, forget about

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the implications for housing, forget to me. The most important

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part of that is people are gonna say Trump's doing

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a good thing launching the fifty year. People are gonna

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say he's doing a bad thing. Here's my point. It

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doesn't matter. And the reason it doesn't matter is because

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if Trump didn't do it, the next time would. And

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the reason why is because when you go down the

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bailout highway, which we started No. Seven and O eight,

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you don't get out of it. It is an economic

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roach motel. And the reason why is very simple. When

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you start bailing out, what is a bailout? A bailout

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is effectively removing fundamentals price, Meaning we're stepping in because

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the fundamentals and the and the way company has run

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itself and the way this market has run itself, we

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disagree with the conclusion in terms of price that the

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market is making, right yep, Like that's that's what we're

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saying when we bail something out. And so we're saying

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the government steps in with a stack of printed money

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and readjusts things to where that price goes back up. Well,

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the longer you do that, the bigger space you get

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between where price should actually be and where it is.

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So if you're gonna jump in and intervene over a

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twenty percent drop, what are you going to do when

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it's a fifty percent drop? Right? So you're in for

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a penny, in for a pound, And my whole thing

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is you're gonna see the fifty years in time after

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that you're going to see a hundred years and you know,

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and it's just the way it's gonna keep going. And

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that's what I've been telling people is guys, we need

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to be concerned about quote unquote collapses and and big

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A can draw downs because of how crazy and unstable

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things are. But that is not whenever we get those

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draw downs. That is the exception of the rule. When

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you look at policy and the policy we are pursuing,

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and the policy that governments have always pursued when they're

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in our position, You're not going to get a crash down.

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You're going to get a crash out, meaning things will

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get too inaffordable. That is how this ends. It's not

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going to end in a great depression the way we

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think of it. It is going to end eventually. Now

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I'm not saying this is going to happen five years

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from now, but eventually it ends with twenty dollars, thirty dollars,

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forty dollars levels of bread. And the reason why, like

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I said, is every time you intervene, just just look

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look at what we're doing with fifty your mortgages. What

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is that going to do That's going to push prices higher?

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Our price is going up on housing because of natural

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demand dynamics. No, it's financing, right, it's we're creative finance, right,

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So we're increasingly financializing that part of the economy. And

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and you'll just keep doing that. And once you go

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down that path, there's no going back. Like I said,

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it's an economic approach, motel because the reason you've started

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on that path in the beginning was to avoid pain,

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and pain was a twenty five percent brought down. Here's

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the other thing to think about in relationship to the

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stock market. Check this out. The stock market historically has

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averaged about eighty five to one hundred percent of GDP. Right,

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so if we had a twenty trillion dollar economy, you'd

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expect the stock market to be around twenty trillion dollars. Currently,

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right now, the stock market is worth about two hundred

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and fifteen percent of GDP. Oh, okay, so what does

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that mean? That mean? That means if you had a

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thirty percent pullback in the stock market, and give you

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guys an idea, every ten years you average probably three

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thirty percent pullbacks. Not fun but part of the game. Right.

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But here's the problem. Now, a thirty percent pullback a

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race is about twenty trillion in household wealth, which is

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the equivalent of two thirds of our entire economy. Right,

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So you've pushed equity prices so high that at twenty

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five to thirty percent raw down nukeas amount of an

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amount of household wealth that's commensurate to two thirds the

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size of our entire economy. So when you see them

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propping up the stock market, is it egregious? Yes? Is

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it deleterious over the long term? Yes? Do they need

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to do it to prevent an economic catastrophe? Kinda?

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Speaker 1: We are in the debauchery stage. Uh, sexually, morally, praise God,

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people are coming back to God. But we're in the

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debauchery stage financially.

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Speaker 3: Yet. You and I have talked about this for a

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long time. Right, Well, whatever you see going on, especially

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economically and in finance, you will see it near it

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in the culture.

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Speaker 2: Right.

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Speaker 3: You see debauchery on one it goes hand in hand

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with the debauchery of other and usually it's led by

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Usually it's led on the finance side, right, because you

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usually access money and economies and cultures that are at

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peak prosperity. That's usually also typically peak debauchery.

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Speaker 1: And debauchery is usually the last phase in the six

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phases of getting to societal collapse, and we're seeing all

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of that. So I wanted to ask you a question

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about AI because you've been studying this. You have the

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free level webon are coming up November twenty second, you

360
00:19:28,880 --> 00:19:31,279
can register for that at No Your riskpodcast dot com.

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We'll do that the second. I just wanted to cue

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people into this that this happens every single year. People

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00:19:37,440 --> 00:19:40,319
forget to buy bone Frog coffee for their friends who

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are in the service. Please don't do this. In fact,

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if you have friends who are serving overseas right now

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or your kids are, the coffee over there can suck,

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00:19:48,440 --> 00:19:50,440
be honest, and you need to get a good American

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brand there. So go to Bonefrog Coffee dot com, slash Todd,

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00:19:53,319 --> 00:19:55,400
use promo cod todds. You get tempercent off the first

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00:19:55,480 --> 00:19:58,079
purchase fifteen percent of subscription coffee. That will work. By

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00:19:58,079 --> 00:20:00,759
the way, if you subscribe for your kids, it's you

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00:20:00,880 --> 00:20:03,400
just have it sent to different address. You create multiple dresses,

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multiple names. So support that Bonefrog Coffee dot com, sash

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Todd promo cod Todd. And I want to tell you

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this act. I know that you know we you and

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I both of poor racism. So I'm struggle with this.

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Tim has come up with a white coffee roast, so

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he claims it's sweet and kind of nutty. He claims

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it so as a as a punch, and I've ordered

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some of I'm gonna try it, but I don't know.

381
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I I got to kind of feel racist drinking white coffee,

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and I wanted to know if maybe there's some black

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cream I could put in it. Is it such a

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black cream or is there black butter something like that

385
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I could put in that. I don't know. Do you

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do you think I'm okay with white.

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Speaker 3: Cor I think it's I think it's terrific. I think

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it's horrifically racist, and uh I would I would recommend.

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I mean, first of all, you're starting with the bad bass.

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It's it's it's a racist coffee and it's right. So

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there's no way to wipe.

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Speaker 1: Okay, Well, so to speak, Well, you're gonna apologize some

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people now there.

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Speaker 3: Yeah, absolutely, I've hurt feelings out there and I hope

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to do better and learn more. Yeah, from the bottom

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of my home, right, put your little little chocolate in there, Okay,

397
00:21:15,519 --> 00:21:18,759
you know what I mean. Okay, chocolate, Oh yeah, that's acceptable.

398
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Maybe some chocolate milk. Yeah, just just just don't be

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a racist man.

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Speaker 1: Okay, So I'll do put some chocolate in it. Bonefron

401
00:21:24,720 --> 00:21:28,200
Coffee dot com slash Todd promo code Todd. Okay for

402
00:21:28,359 --> 00:21:33,759
fun and because I God has spoken into me saying, hey, Todd,

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do you remember the website idea I gave you that's

404
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going to be teaching people to be in the world,

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not of it that you're going to talk about. Uh,

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faith and family, faith and finance, faith and fitness, faith

407
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in the flag and God put this in mind? Are

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you going to do that?

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Speaker 3: Todd?

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Speaker 2: Like?

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Speaker 1: Are you going to do that? I went to an

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AI website building service. In ten minutes, I had a

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website ready to go answering prompts. Now, it's not the

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best websites, but then again, I didn't go to an

415
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AI graphic designer that I can go to. I can

416
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go to an AI graphic designer. I can get this

417
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stuff designed pretty quick. We've been playing with an AI

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to listen to the shows and turn it into blog posts,

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and some of it's frighteningly good. I don't want to

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do that. But I'm sitting here thinking about housing affordability,

421
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and I'm going in and doing now a website. How

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far away are we from me saying, you know, I

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want to buy house. I'm going to go to an

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architectural AI. Tell it the scare footage of my lot,

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give it some details as to where the waterline is

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located with the you know, here's the here's the shot

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of the foundation, here's the blueprints of the foundation. So

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it has that, and then it could ask me a

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question like, do you want us to consult your local

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building codes?

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Speaker 3: Oh?

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Speaker 1: Sure, all right? Do you want to be in code?

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Why not? And are there any special features you want?

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And it could then create a CAD design for this.

435
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They could be sent to a three D printer. And

436
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these houses we've been talking about, Zach, these these some

437
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of these houses, the houses, they're three D printed m

438
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and that could be sense. You could have that design

439
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done with very very few human beings. I mean, how

440
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far away are we from a disruption like that? I

441
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know that's hard to think into, but I can't think

442
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we're I don't think we're three years away from the

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first AI constructed house.

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Speaker 3: No, as a matter of fact, I've got a client

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right now that is using it, is building a home

446
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and is using AI. He hired, he hired some architects,

447
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but he's using AI alongside it. And he said he's

448
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already had the AI correct multiple things that the architects

449
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did w own. The architects don't know he's using it

450
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and they're like, oh yeah, and they're like, oh, that's

451
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a really good idea. Yeah, we'll didn't put that into

452
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the house. So you know you have the technology to

453
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do it right now. Wow. They that they have the

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technology to do that right now. And I'm sure somebody's

455
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linking that up. But yeah, I mean that's as far

456
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as these llms are concerned that that technology. Whether somebody's

457
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actually doing it exactly the way you said, I'm not

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sure I would think so. But what I do know

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is the technologies there.

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Speaker 1: Wow.

461
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Speaker 3: Yeah, Yeah, this is.

462
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Speaker 1: Going to disrupt in so many ways. A lot of

463
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my guys have been telling you, go to trade school. Uh,

464
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the guys, young guys they work with and are going

465
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to go be HVAC texts and to go doing people's houses.

466
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And I don't think people are going to be excited

467
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having robots in their houses. Yet and these robots. I

468
00:24:36,880 --> 00:24:38,839
was watching a video of a robot that went nuts

469
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that destroyed a rental house. The guys started to teach

470
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it how to cook and it started a fire, and

471
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it's all. You know, it was very probably very low

472
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end robot. But if we're three years out from that,

473
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and that's happening now, then we get to the robotics

474
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stage and the robots build the houses. So a AI.

475
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You know that universal basic income thing we used to

476
00:25:01,000 --> 00:25:04,359
laugh about and say, Okay, that's the end. When that's

477
00:25:04,359 --> 00:25:06,559
because it's the government's providing that government powerful enough to

478
00:25:06,559 --> 00:25:09,240
give you everything you need, power enough to take everything

479
00:25:09,240 --> 00:25:14,880
you want. If AI continues to eat jobs that way, Uh,

480
00:25:15,160 --> 00:25:17,599
is it that everything is so cheap we don't need you?

481
00:25:17,640 --> 00:25:19,920
U I are UBI or.

482
00:25:21,480 --> 00:25:27,640
Speaker 3: This? Yeah, and and that's so and and here's the

483
00:25:27,720 --> 00:25:32,839
issue with it, Like you said, it's uncharted, meaning I

484
00:25:32,880 --> 00:25:35,880
see people making, in my estimation, so many mistakes when

485
00:25:35,920 --> 00:25:39,200
looking at this like they're looking at it like previous

486
00:25:39,240 --> 00:25:43,519
technological leaps forward in the past, and those technological leaps forward,

487
00:25:43,559 --> 00:25:46,920
if you look at virtually all of them, the potential

488
00:25:47,039 --> 00:25:51,359
drawbacks of that technology were relatively very small when compared

489
00:25:51,400 --> 00:25:54,720
to the advantages they gave the Like you don't think

490
00:25:54,720 --> 00:25:59,240
about the automobile, right, think about how the automobile opened

491
00:25:59,400 --> 00:26:02,599
up employer meant opportunities for people, right, And.

492
00:26:02,680 --> 00:26:05,400
Speaker 1: How by the way, it made housing more affordable because

493
00:26:05,400 --> 00:26:06,720
of the suburbs yep.

494
00:26:06,839 --> 00:26:10,559
Speaker 3: Yep, yep, opened up land, right, did all these different things.

495
00:26:10,799 --> 00:26:15,400
So when you look at AI, the biggest advantage that

496
00:26:15,480 --> 00:26:21,400
AI has and the biggest value it delivers is the

497
00:26:21,519 --> 00:26:25,599
need to not have a person, right, So you've got

498
00:26:25,680 --> 00:26:29,119
the most Now, it's going to have incredible advantages. But

499
00:26:29,160 --> 00:26:32,599
as far as modern technologies that we've that we've witnessed,

500
00:26:33,160 --> 00:26:37,400
this one has unbelievable upsides, but has much higher downside

501
00:26:37,440 --> 00:26:40,359
costs culturally than other. And I'm not saying that that

502
00:26:41,079 --> 00:26:44,960
makes it bad. I'm just saying there are much different

503
00:26:45,039 --> 00:26:49,119
costs right in that technology's main function is to replace people.

504
00:26:49,680 --> 00:26:52,200
So you know, that's one of the things that you

505
00:26:52,240 --> 00:26:55,839
see this to infinity and beyond regarding the stock prices,

506
00:26:56,160 --> 00:26:58,000
I'm looking at it and going, hey, guys, you know

507
00:26:58,039 --> 00:27:02,559
all these AI products, who's going to pay for it? Like,

508
00:27:02,599 --> 00:27:03,960
who's going to buy them?

509
00:27:04,240 --> 00:27:04,519
Speaker 2: Right?

510
00:27:04,960 --> 00:27:09,079
Speaker 3: So and you know, think think about the highly paid

511
00:27:09,079 --> 00:27:12,200
people in tech that are losing their jobs left and right, right,

512
00:27:12,359 --> 00:27:14,799
think about the trickle effect of that in the economy,

513
00:27:14,839 --> 00:27:16,319
and then all of a sudden it starts coming to

514
00:27:16,359 --> 00:27:20,039
automation and those people start losing their jobs. So I

515
00:27:20,039 --> 00:27:22,839
don't know, Todd, I think that I think that there

516
00:27:22,920 --> 00:27:29,559
will be more opportunities for people to get jobs than

517
00:27:29,759 --> 00:27:33,079
a lot of the doomsdayers are saying. Yet at the

518
00:27:33,119 --> 00:27:36,000
same time, a lot of jobs are going to be replaced.

519
00:27:36,039 --> 00:27:40,039
A much higher percentage of the jobs in our economy

520
00:27:40,119 --> 00:27:43,359
are going to be negatively impacted than with any other

521
00:27:43,480 --> 00:27:48,119
technology that we've ever had. So could you need a UBI?

522
00:27:48,359 --> 00:27:52,319
You might? I don't know. It's it's again. This is

523
00:27:52,359 --> 00:27:56,440
a very very different technology that is going to have

524
00:27:57,359 --> 00:28:01,680
big impacts, but not all of them good, and many

525
00:28:01,759 --> 00:28:02,279
of them not.

526
00:28:02,440 --> 00:28:06,559
Speaker 1: Gosh no, I mean, yeah, there's a movie coming out

527
00:28:06,559 --> 00:28:10,279
called Making God. Guys went to San Francisco interdvention people

528
00:28:10,640 --> 00:28:14,119
and someone said something really interesting. He said, AI is

529
00:28:14,200 --> 00:28:20,000
like chimpanzees inventing humans. So who says the humans are

530
00:28:20,039 --> 00:28:21,920
going to be in charge?

531
00:28:22,920 --> 00:28:26,480
Speaker 3: I mean that that. Yeah, I mean you play it

532
00:28:26,519 --> 00:28:28,640
out to its logically, yeah, I mean play it out

533
00:28:28,640 --> 00:28:30,160
to its logical conclusions.

534
00:28:30,400 --> 00:28:33,039
Speaker 1: And you got a central bank, so we get it.

535
00:28:33,200 --> 00:28:35,799
We get a central bank digital currency. Europe's gonna do that.

536
00:28:35,799 --> 00:28:39,359
They're gonna ban cash. This is they're showing their hands.

537
00:28:40,440 --> 00:28:44,079
Central bank digital currency meets AI. AI is looking at

538
00:28:44,079 --> 00:28:46,000
some of the modeling. You know, here's what we need

539
00:28:46,039 --> 00:28:48,200
to do to cause people who save too much money

540
00:28:48,279 --> 00:28:51,119
to stimulate the economy. So it creates a model and

541
00:28:51,200 --> 00:28:53,240
people get a prompt and unless you buy some things

542
00:28:53,240 --> 00:28:54,680
this month, we're going to take the money from you

543
00:28:54,720 --> 00:28:57,240
and use it for taxes. So go buy things. They're

544
00:28:57,240 --> 00:29:00,359
already talking about these things. So you get a and

545
00:29:00,480 --> 00:29:04,640
AI that it wants to sustain itself. Why wouldn't it

546
00:29:04,680 --> 00:29:07,720
just come along and go, Actually, I prefer you spend

547
00:29:07,759 --> 00:29:10,799
money this different way. And I mean there's all sorts

548
00:29:10,799 --> 00:29:15,039
of entry points to AI deciding that if it does

549
00:29:15,240 --> 00:29:18,079
awaken a morality, and it couldn't have one, it would

550
00:29:18,079 --> 00:29:20,480
have to be the amalgamation of all the moralities of

551
00:29:20,480 --> 00:29:22,640
the people who built it. And AI could come along

552
00:29:22,640 --> 00:29:23,920
and go, hey, you know, I'm done waiting on this

553
00:29:23,920 --> 00:29:27,200
climate change thing. I'm gonna gohead limit some of these flights.

554
00:29:28,160 --> 00:29:30,759
If it believes that, right, if it quote believes that.

555
00:29:31,519 --> 00:29:33,920
I'm sorry, I don't see a way that this becomes

556
00:29:33,960 --> 00:29:38,200
happy happy, other than I trust in God and I

557
00:29:38,279 --> 00:29:41,440
know that how it ends. I know Jesus wins. I

558
00:29:41,960 --> 00:29:45,440
know that the end comes, I know that the Earth changes.

559
00:29:45,480 --> 00:29:47,000
I know we've got the new Heaven of the new Earth.

560
00:29:47,559 --> 00:29:49,240
But Zach, I'm sorry, I can't see a way this

561
00:29:49,279 --> 00:29:49,880
turns happy.

562
00:29:51,640 --> 00:29:55,319
Speaker 3: I don't. I don't either. I don't either. And I'm

563
00:29:55,359 --> 00:30:00,359
a very very positive, upbeat person. Yep, I'm an optimus,

564
00:30:01,480 --> 00:30:04,799
but just really in all reality looking at it, like

565
00:30:04,839 --> 00:30:07,039
I said, there's gonna be big upsides. It's going to

566
00:30:07,079 --> 00:30:10,319
be used to do some really incredible things. There's gonna

567
00:30:10,359 --> 00:30:12,359
be some really amazing neat things we say it do.

568
00:30:13,319 --> 00:30:18,759
There's also a lot of negative impacts. And I don't

569
00:30:18,839 --> 00:30:22,920
see I don't see us skirting skating by those like

570
00:30:23,000 --> 00:30:26,160
we have. You know, a great comp is looking back

571
00:30:26,200 --> 00:30:28,359
at the automobile, and the stay at the time was

572
00:30:28,680 --> 00:30:30,799
look at all the people that's gonna get rid of

573
00:30:30,880 --> 00:30:33,160
in terms of jobs, people scoop it up and down

574
00:30:33,240 --> 00:30:36,680
in the streets, to buggy wit makers, to buggy makers,

575
00:30:36,720 --> 00:30:40,160
all that kind of stuff. Well, yeah, those jobs went away,

576
00:30:40,279 --> 00:30:43,000
but new jobs for the automobile opened up, right, and

577
00:30:43,079 --> 00:30:45,200
it was just a one for one. Like I said,

578
00:30:45,240 --> 00:30:47,480
this is just decidedly different. This is the first time

579
00:30:47,559 --> 00:30:51,480
that technology has been aimed at getting rid of people.

580
00:30:51,920 --> 00:30:56,799
Speaker 1: So at this level, I mean, there's council, but nothing exponential.

581
00:30:56,960 --> 00:30:57,720
All right, you.

582
00:30:57,680 --> 00:31:02,960
Speaker 3: Mentioned a well, yeah, a lot of those technologies were

583
00:31:03,000 --> 00:31:05,160
actually invented not to get rid of people, but to

584
00:31:05,319 --> 00:31:08,480
enhance people's production, which would lead to getting rid of pink.

585
00:31:08,640 --> 00:31:11,799
But just think of the mind shift there, right, You

586
00:31:11,880 --> 00:31:15,319
went from making a tool for people who will replacement.

587
00:31:15,720 --> 00:31:18,759
Speaker 1: Yeah, that is exponentially, exponentially different.

588
00:31:18,799 --> 00:31:19,039
Speaker 3: Yeah.

589
00:31:19,359 --> 00:31:21,079
Speaker 1: I want to bring this back around to what's going

590
00:31:21,119 --> 00:31:24,519
on today, because once again, who knew Obamacare would be

591
00:31:24,519 --> 00:31:26,480
back in the conversation. One of the worst things I've

592
00:31:26,480 --> 00:31:29,440
ever been done in this country, one of the biggest

593
00:31:29,480 --> 00:31:34,240
and worst examples of evil partnerships. We'll talk about this

594
00:31:34,279 --> 00:31:36,279
in a seconds, because I want to talk about stock

595
00:31:36,640 --> 00:31:40,480
and insurance company prices and how we view this as

596
00:31:40,519 --> 00:31:43,039
investors since we're going to talk health. I would be

597
00:31:43,400 --> 00:31:46,440
remiss if I didn't tell you this. The travel disruption,

598
00:31:46,640 --> 00:31:49,599
all that stuff that's going on, getting flights down to

599
00:31:49,640 --> 00:31:52,880
putaviar and renew Healthcare. I got it. Some people have

600
00:31:52,920 --> 00:31:54,519
sent me notes, Hey Todd, we want to go down

601
00:31:54,559 --> 00:31:58,920
to December. We've got reservations. We're getting concerned. Okay, let's

602
00:31:58,920 --> 00:32:01,279
wait and see what happens. But let me say this

603
00:32:01,319 --> 00:32:03,079
to people who've been asking me, how long does it

604
00:32:03,119 --> 00:32:05,200
take to get into the treatment pipeline for the stem

605
00:32:05,240 --> 00:32:08,279
cells there? Because there's people who are going to avoid

606
00:32:08,319 --> 00:32:11,279
surgery or they're going to recover from surgery more quickly.

607
00:32:11,920 --> 00:32:14,880
It really depends on your circumstance. But if you say

608
00:32:15,200 --> 00:32:18,000
had to get down there, and you had to go

609
00:32:18,079 --> 00:32:20,880
down and get treatment done, they can get you processed

610
00:32:20,920 --> 00:32:24,200
as quickly as they can examine your MRI, and they

611
00:32:24,200 --> 00:32:28,440
can often make room for people, particularly if it's super painful.

612
00:32:28,880 --> 00:32:31,599
They love to solve pain. So if you've got a

613
00:32:31,680 --> 00:32:34,039
horrible back injury and it's not you're not going to

614
00:32:34,079 --> 00:32:36,119
be a wait for the surgeon. You can't stand the pain,

615
00:32:36,920 --> 00:32:38,759
just go down and get this done. If it will help,

616
00:32:38,880 --> 00:32:41,200
they will tell you if it will help. It's renew

617
00:32:41,680 --> 00:32:43,920
and you e dot Healthcare And in terms of you

618
00:32:44,039 --> 00:32:47,599
have surgery scheduled, it's three months out. It's a month out.

619
00:32:47,680 --> 00:32:52,400
Please please send your MRI there. How blessed will you

620
00:32:52,480 --> 00:32:54,960
feel if they're able to tell you do not have

621
00:32:55,000 --> 00:32:57,559
to have your body cut open? How blessed will you be?

622
00:32:57,559 --> 00:33:00,200
Because look, I've been through like three surgeries myself, A

623
00:33:00,240 --> 00:33:03,799
surgery unavoidable. But I could tell you if I did

624
00:33:03,799 --> 00:33:06,279
not have to have shoulder surgeries, I would have skipped

625
00:33:06,319 --> 00:33:08,599
both of them. It's renewed R E, m U E

626
00:33:08,720 --> 00:33:11,240
dot Healthcare, and the shoulder I did have done there,

627
00:33:11,359 --> 00:33:12,920
it's always going to be better than the one that

628
00:33:12,920 --> 00:33:15,000
I didn't get done R E and U E dot Healthcare.

629
00:33:15,000 --> 00:33:17,359
Please tell me a part of the Todd Hermanshew family, Zach,

630
00:33:17,400 --> 00:33:20,039
you've probably seen this chart. President Trump tweeted this output

631
00:33:20,039 --> 00:33:24,319
it on the true social It is the stock increases

632
00:33:24,480 --> 00:33:28,680
in the major insurance companies performance stock performance post Obamacare.

633
00:33:29,359 --> 00:33:33,359
So United Health Group is up one and seventy seven percent,

634
00:33:33,440 --> 00:33:37,240
Signa eight hundred and twenty two percent, Molina eight hundred

635
00:33:37,240 --> 00:33:39,640
and fifty nine percent. Then you got the Leggert's like

636
00:33:39,640 --> 00:33:43,359
A and the only five hundred ninety five percent h Sinenta,

637
00:33:43,720 --> 00:33:46,839
Santana six hundred and four percent. Human of four to nine.

638
00:33:46,880 --> 00:33:49,799
The lowest is Anthem at four hundred and fourteen percent.

639
00:33:50,359 --> 00:33:52,880
Funny thing when you purchase. When these guys get forty

640
00:33:52,920 --> 00:33:56,759
billion dollars every year, no matter what, and this comes

641
00:33:56,799 --> 00:33:58,960
from the federal government, and they still get to charge

642
00:33:59,000 --> 00:34:03,359
eight thousand dollars premiums and two thousand bucks three thousand

643
00:34:03,400 --> 00:34:07,440
and four thousand per month. And then the nonprofits, Zach,

644
00:34:07,480 --> 00:34:09,199
do you know that they're getting one hundred and twenty

645
00:34:09,199 --> 00:34:12,679
to one hundred and fifty billion per year in tax

646
00:34:12,760 --> 00:34:16,280
right in tax waivers, no property tax, no employment tax.

647
00:34:17,039 --> 00:34:20,199
They're paying their execs millions and millions a year. If

648
00:34:20,239 --> 00:34:22,880
you've ever been into the lobbies of these nonprofit hospitals,

649
00:34:22,920 --> 00:34:28,079
so called nonprofit, it's like stepping into the finest European hotels.

650
00:34:28,480 --> 00:34:31,800
And that's just the areas we get to see. President

651
00:34:31,800 --> 00:34:34,920
Trump is talking about taking all that money, the forty billion,

652
00:34:35,599 --> 00:34:38,960
giving it to taxpayers, quote, giving it to us, it's ours.

653
00:34:39,000 --> 00:34:41,000
I don't know how you give something that belongs to you,

654
00:34:41,000 --> 00:34:43,679
you to you, but he's talking about doing that and

655
00:34:43,719 --> 00:34:47,840
shifting this all around. So the first question, these stock prices,

656
00:34:49,079 --> 00:34:55,639
they're not artificial, but they're confiscatory. And can that even last?

657
00:34:55,800 --> 00:34:57,239
Can that even sustain itself?

658
00:34:58,880 --> 00:35:01,559
Speaker 3: Well? If they Yeah, if they keep if they keep

659
00:35:01,599 --> 00:35:04,039
the set up the way it is, I mean, and

660
00:35:04,159 --> 00:35:07,599
and here in lines the problem, like and you know,

661
00:35:07,880 --> 00:35:09,800
I know the vast majority of people listening to your

662
00:35:09,800 --> 00:35:12,360
podcasts know this, but here in lines the problem. And

663
00:35:12,400 --> 00:35:16,320
it's another classic example of government stepping in with best efforts.

664
00:35:16,320 --> 00:35:18,199
And the private sector is always going to be smarter,

665
00:35:18,519 --> 00:35:20,679
meaning they're going to design a system like if you

666
00:35:20,760 --> 00:35:23,320
don't think that when they so, First of all, when

667
00:35:23,320 --> 00:35:26,639
they designed Obamacare, they did it lockstep with the industry, right,

668
00:35:26,760 --> 00:35:29,599
which which to some degree they had to because they're

669
00:35:29,639 --> 00:35:32,400
the experts. But if you also then don't think that

670
00:35:32,400 --> 00:35:35,599
that industry is going to back door a bunch of

671
00:35:35,639 --> 00:35:38,920
stuff that slide right past the regulators and slide right

672
00:35:38,960 --> 00:35:42,840
past the policy makers and the legislators and allow them effectively,

673
00:35:42,920 --> 00:35:45,400
like I said, this back door and this eve this

674
00:35:45,639 --> 00:35:49,400
easy way you know, to make ridiculous profits and ill

675
00:35:49,480 --> 00:35:53,039
gotten gains quite honestly, right, Yeah, they're like machines. And

676
00:35:53,079 --> 00:35:54,840
while you were sitting there and I saw that chart,

677
00:35:54,920 --> 00:35:58,440
and I'll be honest with you, I'm kicking myself for

678
00:35:58,599 --> 00:36:02,960
not realizing that purchasing those socks because the minute Obamacare

679
00:36:03,000 --> 00:36:06,079
got announced the easiest way to out form the S

680
00:36:06,119 --> 00:36:07,960
and P five hundred over the next ten years. It

681
00:36:08,039 --> 00:36:10,000
was just gonna be able to just to ride that

682
00:36:10,119 --> 00:36:13,599
cabal because right, it was just I mean, like, looking

683
00:36:13,639 --> 00:36:16,679
back on it, you're like, dude, what a missed opportunity.

684
00:36:16,760 --> 00:36:17,079
That was?

685
00:36:17,280 --> 00:36:20,559
Speaker 1: Well, right, I was there fighting against Obamacare, and I

686
00:36:20,639 --> 00:36:22,800
believe Obama knew you were going to keep your plan

687
00:36:23,000 --> 00:36:26,920
because he he wants control, and he knew Jonathan Grueber

688
00:36:26,960 --> 00:36:29,639
designed this. He knew they I mean, Gruber was behind

689
00:36:29,639 --> 00:36:32,280
the scenes laughing about this. But here's what this mindset,

690
00:36:32,320 --> 00:36:35,800
doesn't it. This is a problem with me. Is I

691
00:36:35,960 --> 00:36:37,519
was saying, do you understand what this is gonna do

692
00:36:37,559 --> 00:36:41,239
for insurance companies? They're gonna get automatic cash fold no

693
00:36:41,239 --> 00:36:45,239
matter what, and there's only gonna be seven insurance plans

694
00:36:45,320 --> 00:36:49,880
basically in the entire country because in Bambacare, Obamacare will

695
00:36:49,920 --> 00:36:52,920
infect everything and those evil, those evil and but Zack,

696
00:36:52,960 --> 00:36:56,320
you know, it didn't occur to me. I went in, Yeah,

697
00:36:56,440 --> 00:36:59,000
I'm a loser. I didn't know.

698
00:36:59,280 --> 00:37:02,280
Speaker 3: I want in I know, and that and that's one

699
00:37:02,320 --> 00:37:05,559
of the things that we've really we've really embraced, especially

700
00:37:05,599 --> 00:37:10,360
over the last five or six years in not getting in.

701
00:37:10,480 --> 00:37:12,840
But but you in a way you have to think

702
00:37:12,840 --> 00:37:16,639
about it is a lever to protect your own purchasing power, right, like,

703
00:37:17,159 --> 00:37:20,119
meaning when the government is running a cabal like that

704
00:37:20,840 --> 00:37:23,960
and you know ill gotten gains are just going to

705
00:37:24,039 --> 00:37:26,559
be pumped into it, and and you see a system

706
00:37:26,639 --> 00:37:29,360
set up like that, it's just you know, it's it's

707
00:37:29,360 --> 00:37:32,079
sort of like seeing Nancy Flosi put in a stock

708
00:37:32,159 --> 00:37:34,920
trade and copying it. I know, right, It's like it's

709
00:37:34,960 --> 00:37:39,159
like a cheat code, and it's just here. Here's the

710
00:37:39,159 --> 00:37:44,000
thing that is so frustrating to me, which is what

711
00:37:44,159 --> 00:37:50,480
a classic example of how things break down, Meaning would

712
00:37:50,519 --> 00:37:53,000
you sit there and you've got a government that effectively

713
00:37:53,039 --> 00:37:56,480
takes over an industry oh sorry, and and says they're

714
00:37:56,519 --> 00:38:01,280
doing it in the name of affordability, right, good luck, right,

715
00:38:01,320 --> 00:38:06,519
good luck, And it's it's that's not what government does, right,

716
00:38:06,599 --> 00:38:09,039
it's not what they do, and they're not good at

717
00:38:09,079 --> 00:38:12,920
maximizing affordability. So then you see a situation like the

718
00:38:13,000 --> 00:38:16,519
Obamacare thing. Of course it turns out to be here's

719
00:38:16,559 --> 00:38:18,599
the other reason, the other reason they made so much

720
00:38:18,639 --> 00:38:24,920
money is when you're sitting there as the government subsidizing

721
00:38:25,000 --> 00:38:30,679
the prices you provide absolutely no incentive and no need

722
00:38:31,159 --> 00:38:35,760
for the insurance companies to price things more competitive. Yep. Right,

723
00:38:35,800 --> 00:38:41,039
anytime you're subsidizing, anytime you're subsidizing the public's purchase of anything,

724
00:38:41,360 --> 00:38:44,559
you are driving the coast up infinential. Yeah, because you're

725
00:38:44,599 --> 00:38:48,559
divorcing that market from the pressures of a free market.

726
00:38:48,760 --> 00:38:51,800
Which means what what is the if you left well

727
00:38:51,920 --> 00:38:55,360
enough alone, what would the price of medical insurance eventually do.

728
00:38:55,440 --> 00:38:57,679
Now I'm not saying this is the answer, and I'm

729
00:38:57,679 --> 00:38:59,239
not saying it'd be a good idea to do this,

730
00:38:59,519 --> 00:39:02,400
but if you left it well enough alone, you would

731
00:39:02,440 --> 00:39:06,679
eventually see the price of health insurance fall down to

732
00:39:06,840 --> 00:39:09,559
where the normal consumer could purchase it. Yeah.

733
00:39:10,039 --> 00:39:12,599
Speaker 1: Here's what I'd do if you could get this through Congress,

734
00:39:12,599 --> 00:39:15,280
which you can't because the insurance companies have wisely taken

735
00:39:15,320 --> 00:39:19,079
that money and bought even more politicians. Is I would

736
00:39:19,079 --> 00:39:21,159
do this. I would open up the insurance market the

737
00:39:21,199 --> 00:39:25,079
United States to every country. Hey, it's money, it's math,

738
00:39:25,760 --> 00:39:29,119
all right, Hey, guess what all commerce can ensure Americans.

739
00:39:29,800 --> 00:39:33,920
By the way, federal government has banned state insurance commissioners

740
00:39:34,519 --> 00:39:37,239
that job doesn't exist anymore. It's all going to be

741
00:39:37,280 --> 00:39:40,480
across state lines. You see a plan, you like, go

742
00:39:40,480 --> 00:39:44,760
ahead and purchase it. That's great, catastrophic only, Okay, sweep

743
00:39:44,920 --> 00:39:48,840
sweep catastrophic only. And you know what happens zac in

744
00:39:49,360 --> 00:39:53,000
ah in two months, All of a sudden, these insurance

745
00:39:53,039 --> 00:39:55,440
companies will find all sorts of efficiencies.

746
00:39:56,159 --> 00:40:01,880
Speaker 3: Oh and people don't like if you haven't, if you

747
00:40:01,920 --> 00:40:05,280
haven't really interacted with the insurance industry from the inside,

748
00:40:05,639 --> 00:40:11,280
you have no idea how bizarre and inefficient the setup is.

749
00:40:11,880 --> 00:40:14,920
To a point that makes like, if you want to

750
00:40:14,920 --> 00:40:18,039
be blown away by the idiotcy of government and the

751
00:40:18,079 --> 00:40:22,840
inefficiencies of government, go get into analyzing how insurance industry

752
00:40:22,880 --> 00:40:28,800
is regulated. It's like, literally you have fifty different insurance

753
00:40:28,880 --> 00:40:33,000
commissioners with different rules, which means no insurance company can

754
00:40:33,039 --> 00:40:36,519
make one simple product. Think of the excess expense that

755
00:40:36,559 --> 00:40:38,320
puts into it. It's just insane.

756
00:40:38,440 --> 00:40:41,800
Speaker 1: It's insane, right right, And we could go through all

757
00:40:41,840 --> 00:40:43,760
sorts of differences like that. So if they wipe that

758
00:40:43,840 --> 00:40:47,440
all out, there's no state insurance commissioners. The rule is

759
00:40:47,840 --> 00:40:50,239
you pay your bills when people come in with the claim,

760
00:40:50,679 --> 00:40:54,239
you follow your rules. Your rules are simply stated. And

761
00:40:54,280 --> 00:40:58,400
then there's this. This drives me crazy. I am obsessive

762
00:40:58,440 --> 00:41:02,079
about fitness because it's what I give myself. Right, I

763
00:41:02,159 --> 00:41:04,079
have the gift of God. I've got the gift of

764
00:41:04,079 --> 00:41:06,840
a wife who, for whatever reason, continues to love me

765
00:41:07,280 --> 00:41:09,920
and support me. And I'm blessed in that way. Praise God,

766
00:41:09,960 --> 00:41:12,559
Thank you, Thank you wife whose name I don't say

767
00:41:12,599 --> 00:41:15,840
on the show. But other than that, it's fitness and

768
00:41:16,039 --> 00:41:18,679
church and all that. Do you know it's illegal for

769
00:41:18,920 --> 00:41:22,320
health insurance companies to create health insurance products for healthy people.

770
00:41:24,440 --> 00:41:30,519
Speaker 3: Yeah, yeah, discrimination right right, and which is so idiotic

771
00:41:30,599 --> 00:41:36,559
because literally, if you got those people, well no, see

772
00:41:36,599 --> 00:41:38,960
here's the problem. Never mind, no reason they have.

773
00:41:38,880 --> 00:41:41,800
Speaker 1: To have the pooled pricing because you, Zach, if you

774
00:41:42,280 --> 00:41:45,880
Obamacare plans charge us all for some wrong sex hormones

775
00:41:45,920 --> 00:41:49,320
and surgery. Eighteen year old men in an Obamacare plan

776
00:41:49,519 --> 00:41:54,559
pay for end of life insurance. Yes, ninety six year

777
00:41:54,559 --> 00:41:57,199
old men you know, brother in Medicare, But you know

778
00:41:57,360 --> 00:42:01,159
sixty four year old men pay for wrong sex surgeries

779
00:42:01,199 --> 00:42:02,599
just in case they decided to have one.

780
00:42:03,039 --> 00:42:05,880
Speaker 3: Well, and look, you've chapped into something that culturally is

781
00:42:05,880 --> 00:42:07,719
a real problem. And has become a big problem in

782
00:42:07,800 --> 00:42:09,840
the last sixty years, is that if you look at

783
00:42:09,840 --> 00:42:13,039
our society and our culture, you have set it up

784
00:42:13,400 --> 00:42:20,039
to where the most challenged and economically, you know, economically challenged,

785
00:42:20,079 --> 00:42:23,079
the most uphill run any generation is had to make

786
00:42:23,079 --> 00:42:26,559
in America. The young generation today, let's call it fifty,

787
00:42:26,679 --> 00:42:29,119
call it eighteen to thirty five year olds. You have

788
00:42:29,280 --> 00:42:32,800
never had a period of time where they are they

789
00:42:32,840 --> 00:42:35,480
more of the more of their money, more of their

790
00:42:35,480 --> 00:42:40,000
tax dollars, more their production. It's going to subsidize the

791
00:42:40,000 --> 00:42:43,079
most wealthy generation in the history of our country. And

792
00:42:43,119 --> 00:42:47,239
it just continues. We are just sticking it to young people.

793
00:42:47,320 --> 00:42:49,400
Speaker 1: My gosh, my daughter was talking to me the other day

794
00:42:49,519 --> 00:42:54,239
about living in eastern Washington looking for a place to rent,

795
00:42:55,559 --> 00:42:57,199
and she came she said, he I think I found

796
00:42:57,199 --> 00:42:59,440
a place. Oh wow, tell me about It was five

797
00:42:59,480 --> 00:43:07,000
hundred a month. Okay, it's located here. I'm like, oh, okay,

798
00:43:07,880 --> 00:43:11,920
in a nine other girls live there and.

799
00:43:11,880 --> 00:43:13,119
Speaker 3: It's a van down by the room.

800
00:43:13,199 --> 00:43:19,039
Speaker 1: It's it's the house and no one has their own room.

801
00:43:19,880 --> 00:43:23,599
And it's nine young women her age in a bad

802
00:43:23,679 --> 00:43:28,800
part of an eastern Washington town has one of the

803
00:43:28,880 --> 00:43:33,480
highest crime rates, highest breaking rates. It's a oh, I

804
00:43:33,519 --> 00:43:36,079
don't know, ten minute walk from a place where they

805
00:43:36,079 --> 00:43:39,360
hand out heroin needles and they're each paying five hundred

806
00:43:39,400 --> 00:43:41,599
a month. And she says, or there's the place that's

807
00:43:41,639 --> 00:43:44,880
two thousand a month. And this is in a like

808
00:43:44,920 --> 00:43:48,239
this isn't Seattle. So yes, I agree with you that

809
00:43:48,239 --> 00:43:50,760
we're doing this speaking to young people. Can you join

810
00:43:50,760 --> 00:43:53,880
me in something? Alan from Alan so OLPs dude, it's

811
00:43:53,880 --> 00:43:57,079
his birthday. Oh, we're sitting down to record this in

812
00:43:57,079 --> 00:43:59,679
a day. It's Alan's birthday. So hey number one from

813
00:43:59,719 --> 00:44:02,920
me Alan, Happy birthday to you, Alan soaps dot com

814
00:44:02,960 --> 00:44:05,559
slash Todd Zach. I know you're a fan of the soap,

815
00:44:05,719 --> 00:44:08,159
so you say to young Alan on.

816
00:44:08,079 --> 00:44:10,199
Speaker 3: His birthday, Happy birthday, keep it going.

817
00:44:10,719 --> 00:44:12,559
Speaker 1: We're proud of you. We're proud of what you do.

818
00:44:12,679 --> 00:44:14,440
We like working with the soap company. We know it's

819
00:44:14,440 --> 00:44:17,039
the best soap in the world, and we think that

820
00:44:17,079 --> 00:44:18,320
this would be a great time for people to go

821
00:44:18,360 --> 00:44:22,320
see the website. Alan soaps dot com slash Todd's Happy birthday, buddy,

822
00:44:22,480 --> 00:44:26,480
appreciate you. I just want to close with this. There

823
00:44:26,559 --> 00:44:31,280
was a takedown of a guy named Senator Roland Getirez

824
00:44:32,440 --> 00:44:36,360
and this came from Elon Musk, and I want to

825
00:44:36,400 --> 00:44:38,599
get like a if we could have a zach meter

826
00:44:38,719 --> 00:44:41,719
on this. We start with this neutral position and then

827
00:44:41,840 --> 00:44:43,880
thumbs up as we go through this, and just tell

828
00:44:43,880 --> 00:44:45,360
me what you feel about this and I'll read it.

829
00:44:45,360 --> 00:44:46,960
We don't want to read it. I can't do a

830
00:44:47,039 --> 00:44:49,880
grim Oh. By the way, I found a site that

831
00:44:49,960 --> 00:44:53,599
can create Avatar hosts, Avatar podcast host and I'm thinking

832
00:44:53,639 --> 00:44:57,440
about creating an Avatar grim Milestone, so we could actually

833
00:44:58,079 --> 00:44:58,679
I should do that.

834
00:44:59,519 --> 00:45:01,800
Speaker 3: You should, man, I always you just said that and

835
00:45:01,840 --> 00:45:04,000
I thought, boy, this is my first shot and actually

836
00:45:04,000 --> 00:45:04,920
have the podcast.

837
00:45:05,320 --> 00:45:08,280
Speaker 1: If I promise you, if I were to create a

838
00:45:08,320 --> 00:45:12,039
grim Milestone channel and take my name off of it

839
00:45:13,079 --> 00:45:15,079
and not use my email address and use a new

840
00:45:15,119 --> 00:45:17,960
computer so YouTube doesn't know it's me because they hate

841
00:45:17,960 --> 00:45:21,960
my guts, I bet a grim Milestone channel would do

842
00:45:22,119 --> 00:45:23,079
so stinking well.

843
00:45:23,719 --> 00:45:25,280
Speaker 3: Oh, I mean that's where I mean, that's where you'd

844
00:45:25,280 --> 00:45:25,800
get your news.

845
00:45:25,880 --> 00:45:30,559
Speaker 1: That's okay, all the news that fit to print, that's good.

846
00:45:30,880 --> 00:45:34,760
Senator Roland gatiras Elon Musk wants to become a trillionaire

847
00:45:34,760 --> 00:45:37,280
off the backs of American taxpayers were We're struggling just

848
00:45:37,280 --> 00:45:40,159
to pay for groceries. Elon Musk replies, this way got

849
00:45:40,159 --> 00:45:44,079
the thumb. You are a taker, not a maker. All

850
00:45:44,239 --> 00:45:46,960
you've done your whole life is take from the makers

851
00:45:47,000 --> 00:45:49,119
of the world. The zero sum mindset you have is

852
00:45:49,159 --> 00:45:51,400
the root of so much evil. Once you realize that

853
00:45:51,400 --> 00:45:54,119
civilization is not zero sum, that it's about making far

854
00:45:54,199 --> 00:45:56,760
more than one consumes, then it becomes obvious that the

855
00:45:56,760 --> 00:45:59,360
paths of prosperity for all is to just let the

856
00:45:59,400 --> 00:46:03,039
makers make. Regarding Tessa, the routy is I've been given nothing. However,

857
00:46:03,079 --> 00:46:05,440
if I led Tesla to become the most vibid company

858
00:46:05,440 --> 00:46:07,400
in the world by far, then it stays that way

859
00:46:07,400 --> 00:46:10,159
for five years. Shareholders vowed to award me twelve percent

860
00:46:10,239 --> 00:46:12,519
of what is built. Anyone who wants to come along

861
00:46:12,519 --> 00:46:15,519
for the ride can buy Tesla stock. If Tesla merely

862
00:46:15,559 --> 00:46:19,239
becomes a one or a one point nine nine nine

863
00:46:19,239 --> 00:46:22,400
trillion dollar company, I get nothing. That is a great

864
00:46:22,440 --> 00:46:25,000
deal for shareholders, which is why they voted overwhelming you

865
00:46:25,119 --> 00:46:27,599
to approve this, for which I'm immensely grateful, and they

866
00:46:27,639 --> 00:46:29,760
did so by a margin far more than you won

867
00:46:29,800 --> 00:46:36,840
your political seat that's solid. Now is that Do you

868
00:46:36,920 --> 00:46:42,519
understand that to be true? Wow, that's the deal. He

869
00:46:42,599 --> 00:46:43,880
bet that high in himself.

870
00:46:44,559 --> 00:46:48,079
Speaker 3: Yeah, and it's and it's like, I mean again, all

871
00:46:48,119 --> 00:46:50,440
the people on your listening podcasts far enough to know this,

872
00:46:50,519 --> 00:46:53,440
But that's the idiotcy. I mean, you literally have people

873
00:46:53,800 --> 00:46:56,199
and I've got to take Dupierre's as one of those

874
00:46:56,199 --> 00:46:58,719
guys where I think he's dumb enough to take it

875
00:46:58,800 --> 00:47:01,960
face value, and I think he really believes that, and

876
00:47:02,000 --> 00:47:04,559
you look at him and go when you see a

877
00:47:04,639 --> 00:47:07,800
company and forget Tesla still in the gap, I mean,

878
00:47:07,840 --> 00:47:12,320
any company that creates, you know, it's tests the overvalued ridiculously.

879
00:47:12,480 --> 00:47:15,480
That's a different conversation. When you see a company that

880
00:47:15,519 --> 00:47:17,719
goes from nothing to a trillion dollar mark CAAP or

881
00:47:17,719 --> 00:47:21,199
a trillion a half dollar market cap, ninety nine percent

882
00:47:21,199 --> 00:47:24,559
of the time, that is value additive to a society

883
00:47:24,559 --> 00:47:28,400
and economy. It's not extracted at all, mean meaning it

884
00:47:28,480 --> 00:47:32,199
creates jobs. Like the idea that you did that on

885
00:47:32,239 --> 00:47:36,239
the back of taxpayers is the dumbest, most inverse logic

886
00:47:36,280 --> 00:47:40,280
in the world. You poured money into tax coppers, all

887
00:47:40,320 --> 00:47:43,360
your employees paid income tax at the state and federal level.

888
00:47:43,599 --> 00:47:45,880
All you do when you run a company like that

889
00:47:46,000 --> 00:47:49,920
is pay taxes. So like the it's just so stupid

890
00:47:50,000 --> 00:47:52,960
and it's so not true, right, I mean, it's like

891
00:47:53,039 --> 00:47:55,559
saying that you have a pink elephant. No you don't, No,

892
00:47:55,599 --> 00:47:57,800
you don't. You might have a dog, you might have

893
00:47:57,800 --> 00:48:00,599
a cat, but you're not a pink elephant, and making

894
00:48:00,639 --> 00:48:04,440
the argument that Elon Musk's network was on the back

895
00:48:04,480 --> 00:48:08,920
of taxpayers. How Look how much tax is his company

896
00:48:09,000 --> 00:48:12,159
is paid. Look how much his employees have paid. Look

897
00:48:12,159 --> 00:48:15,599
at the sales tax for every piece that he buys

898
00:48:15,639 --> 00:48:18,280
it imports to build his cars with. It's just that

899
00:48:18,639 --> 00:48:23,440
it's so not true, and it's so infuriatingly dumb. And

900
00:48:23,719 --> 00:48:27,239
the sad part is is it's idiocy like this. The

901
00:48:27,360 --> 00:48:31,000
young people in society believe because it's just I can't

902
00:48:31,000 --> 00:48:33,039
afford a house, that guy is going to get a

903
00:48:33,039 --> 00:48:36,199
trillion dollar pay day, that must be the problem, and

904
00:48:36,239 --> 00:48:39,280
they don't understand the underlying dynamics where you go, Actually,

905
00:48:39,800 --> 00:48:43,559
your problems are less because of Elon Musk and Tesla.

906
00:48:43,639 --> 00:48:47,400
The government has less debt because of Elon Musk and Tesla.

907
00:48:47,519 --> 00:48:51,320
He's actually helping you, regardless of whether you work for

908
00:48:51,360 --> 00:48:56,079
Tesla or not, and it's just it's so stupid. Oh yeah,

909
00:48:56,199 --> 00:48:56,679
just madening.

910
00:48:58,960 --> 00:49:01,840
Speaker 1: Forget the thumb meater. We got the vocal response, I

911
00:49:01,880 --> 00:49:03,840
love it. Always good to have wise counsel from you,

912
00:49:03,920 --> 00:49:05,800
my brother. Thank you so much for taking the time.

913
00:49:05,840 --> 00:49:07,639
I know you and the wife are away and get

914
00:49:07,639 --> 00:49:09,880
away from the whole thing and all that, and appreciate

915
00:49:09,960 --> 00:49:12,199
you and God go with you, Zach, appreciate you.

916
00:49:12,400 --> 00:49:13,559
Speaker 3: Hey, thanks for having men.

917
00:49:13,559 --> 00:49:15,920
Speaker 1: God bless This is a Todd Herbertshew. Please go be well,

918
00:49:16,119 --> 00:49:21,400
be strong, be kind, and remember God owns everything, so

919
00:49:21,559 --> 00:49:24,639
when you give back, you were really just giving back

920
00:49:24,679 --> 00:49:25,440
something He gave you.