1 00:00:23,839 --> 00:00:27,160 Speaker 1: And here we are glad you can't buy Welcome to 2 00:00:27,199 --> 00:00:31,199 the Big Podcast. It is Thursday. Today's the thirteenth day 3 00:00:31,239 --> 00:00:36,039 of November. Y're of our Lord, twenty twenty five. My 4 00:00:36,159 --> 00:00:39,640 name is Tom Sullivan. So there's a lot to go 5 00:00:39,679 --> 00:00:43,840 over today, and the news keeps on coming today. We've 6 00:00:43,840 --> 00:00:49,039 got the shutdown has shut down. We did forty three days, 7 00:00:49,600 --> 00:00:55,119 new record length. There. We've got the affordability issue is 8 00:00:55,159 --> 00:00:58,479 still being I don't think that's going to stop being 9 00:00:58,520 --> 00:01:02,600 battered around. You've got the health insurance issue now that 10 00:01:02,679 --> 00:01:07,920 the government is back open, and gambling. I want to 11 00:01:07,959 --> 00:01:10,000 talk to you about gambling a little bit today. So 12 00:01:10,159 --> 00:01:13,959 we've got a lot to go over. Let me just 13 00:01:14,319 --> 00:01:21,000 start by finishing off the shutdown. It was James Carvill. 14 00:01:23,040 --> 00:01:26,079 What did what did a SALTI call him serpent head. 15 00:01:26,959 --> 00:01:31,879 James Carville waited on his thoughts regarding the Democrats shutting 16 00:01:31,959 --> 00:01:32,480 things down. 17 00:01:32,640 --> 00:01:35,079 Speaker 2: First of all, I listen to this. Everything that everybody 18 00:01:35,120 --> 00:01:38,200 says is true. There was not a real end game 19 00:01:38,280 --> 00:01:42,040 plan here. It was a simple legislative maneuvering that we 20 00:01:42,079 --> 00:01:45,760 didn't do that well own then well a couple of points, 21 00:01:45,840 --> 00:01:50,920 and also the h senators who decided to reopen the government. 22 00:01:50,959 --> 00:01:54,439 Everything they say is truth, and this is just one 23 00:01:54,480 --> 00:01:57,359 of those things that I'm not mad at anybody on 24 00:01:57,400 --> 00:02:00,000 the Democratic side, and no one's own a Democratic side. 25 00:02:00,079 --> 00:02:02,920 I should be made anybody else on the Democratic side. 26 00:02:04,359 --> 00:02:08,879 Speaker 1: Okay, So he speaks for the Democrats. Speaking for the 27 00:02:08,919 --> 00:02:15,280 Republican side is Kaylee McGhee white. She has a different 28 00:02:15,360 --> 00:02:15,800 view of it. 29 00:02:16,439 --> 00:02:18,400 Speaker 3: Yeah, it was all political theater, and I think the 30 00:02:18,400 --> 00:02:21,360 real motivation was to juice turnout in the off year 31 00:02:21,400 --> 00:02:23,879 election in some of these blue states like Virginia and 32 00:02:23,960 --> 00:02:26,599 New Jersey, where a lot of people were affected directly 33 00:02:26,639 --> 00:02:29,159 by the shutdown. But they didn't have a plan. I mean, 34 00:02:29,199 --> 00:02:32,560 the agreement that these moderate Democrats came to with Republicans 35 00:02:32,879 --> 00:02:34,960 was the exact same one that was on the table 36 00:02:35,039 --> 00:02:37,680 from the very beginning. They had had it in hand 37 00:02:37,719 --> 00:02:40,599 for a month. Nothing changed, They didn't earn anything. They 38 00:02:40,599 --> 00:02:43,199 didn't receive a single concession except for the promise of 39 00:02:43,199 --> 00:02:46,919 a vote on continued Obamacare subsidies. But Republicans certainly are 40 00:02:46,960 --> 00:02:49,560 not going to vote with Democrats on that, So again, 41 00:02:49,599 --> 00:02:52,120 this was really all for nothing. They threatened millions of 42 00:02:52,159 --> 00:02:56,319 Americans with starvation. They prevented federal workers from collecting a paycheck, 43 00:02:56,479 --> 00:02:58,360 and for what they didn't get anything from it. 44 00:02:58,680 --> 00:03:01,159 Speaker 1: No, but I've had a number of already today say 45 00:03:01,240 --> 00:03:03,919 what's going to It's only only going to continue in 46 00:03:03,960 --> 00:03:07,840 your resolution expires January thirtieth. Are they going to shut 47 00:03:07,879 --> 00:03:11,360 it down again January three? I doubt it. I would 48 00:03:11,400 --> 00:03:14,599 think that they basically got their fingers in other parts 49 00:03:14,599 --> 00:03:18,960 of their body burned. So I would be shocked if 50 00:03:19,000 --> 00:03:22,039 they try and shut this thing down again in the 51 00:03:22,080 --> 00:03:25,599 month at the end of January. But this comes back 52 00:03:26,639 --> 00:03:33,879 to the issue about the Obamacare subsidies. The problem with Obamacare. 53 00:03:35,400 --> 00:03:38,319 It's it. I said it then, that was ten years ago. 54 00:03:39,120 --> 00:03:41,719 I still see it. In fact, I see it even worse. 55 00:03:42,159 --> 00:03:46,120 It's a bad product. The government tried to come up 56 00:03:46,240 --> 00:03:51,120 with an insurance product. I know you don't want the 57 00:03:51,159 --> 00:03:53,599 insurance companies coming up with insurance product, but that's what 58 00:03:53,639 --> 00:03:56,159 they do. That is what they do. And it would 59 00:03:56,199 --> 00:03:58,639 seem like you could get a group of people together, 60 00:03:59,599 --> 00:04:04,800 maybe people like doctors and nurses and hospital administrators and 61 00:04:04,840 --> 00:04:09,319 people from the medical profession, but of course they want 62 00:04:09,360 --> 00:04:12,039 to get as much money as they possibly can. In 63 00:04:12,080 --> 00:04:14,840 other words, there's still a lot of work to do 64 00:04:14,919 --> 00:04:19,519 on this, But one of the things that I am 65 00:04:20,199 --> 00:04:24,920 feeling very positive about is the President came up with Normy, 66 00:04:24,920 --> 00:04:26,600 he came up with it, but he said the other 67 00:04:26,680 --> 00:04:29,959 day about give the money directly to the people. Because 68 00:04:30,000 --> 00:04:34,439 what has happened with these subsidies for Obamacare. It doesn't 69 00:04:34,439 --> 00:04:38,839 go into the pockets of Joe and Jane Jones. It 70 00:04:38,920 --> 00:04:43,759 goes to the insurance company. They make more money. Therefore 71 00:04:43,800 --> 00:04:48,240 they can raise their insurance prices. Then everybody has to 72 00:04:48,279 --> 00:04:52,839 pay more for insurance. Now there's a I don't want 73 00:04:52,839 --> 00:04:55,399 to get into the weeds on it, but there's something 74 00:04:55,480 --> 00:04:59,800 called the health savings account. It goes by the initials 75 00:05:01,160 --> 00:05:06,319 health savings account. The way it works is the government says, 76 00:05:06,360 --> 00:05:08,759 you want to start a health savings account. You can. 77 00:05:09,279 --> 00:05:12,319 Nobody's forcing you to. But if you do that, you 78 00:05:12,360 --> 00:05:16,720 can put money into your health savings account and it 79 00:05:16,800 --> 00:05:23,439 will grow tax no tax, tax free. And so when 80 00:05:23,480 --> 00:05:26,680 it comes time to you go to the doctor and 81 00:05:26,800 --> 00:05:29,879 you have to pay the doctor a copay or some 82 00:05:29,920 --> 00:05:32,240 sort of fee you to go to the hospital, you 83 00:05:32,279 --> 00:05:36,839 can dip into your health savings account and pay them 84 00:05:36,920 --> 00:05:41,240 from that. So it's a savings account for health issues, 85 00:05:42,040 --> 00:05:47,040 So why can't they do the same here. What you 86 00:05:47,079 --> 00:05:49,120 get when you have a health savings account is you 87 00:05:49,160 --> 00:05:52,439 get it like a credit card, and that card is 88 00:05:52,480 --> 00:05:55,519 where you put the money into your account. So when 89 00:05:55,560 --> 00:05:58,360 you go to the doctor, you bring your health savings 90 00:05:58,480 --> 00:06:01,920 account card, they swipe it and they take the money 91 00:06:01,920 --> 00:06:06,199 that they are owed, and everybody's happy. So why doesn't 92 00:06:06,240 --> 00:06:12,399 the government just eliminate Obamacare. Instead of sending the money 93 00:06:12,439 --> 00:06:16,279 to the insurance companies, send the money directly to you, 94 00:06:17,240 --> 00:06:22,560 but it goes into your health savings account and you 95 00:06:22,639 --> 00:06:26,480 get a card. When you go to the doctor or 96 00:06:26,480 --> 00:06:29,920 the hospital, you give them the card, they swipe it 97 00:06:30,000 --> 00:06:34,279 and the bill is paid. I mean, it cuts the 98 00:06:34,360 --> 00:06:39,079 insurance companies totally out of this. It's direct the money 99 00:06:39,120 --> 00:06:42,399 to you. It would be easy to do if they 100 00:06:42,439 --> 00:06:46,279 just issue a card and you and they load it 101 00:06:46,360 --> 00:06:49,160 up every year with money from the health for a 102 00:06:49,160 --> 00:06:53,879 health savings account for you. I hope that is what 103 00:06:54,040 --> 00:06:58,120 comes about. I don't know. I'm well, let's talk to 104 00:06:58,160 --> 00:07:02,560 Mark Bertolini. Mark Bertolini is the CEO of a health 105 00:07:02,560 --> 00:07:08,319 insurance company, and he also is looking at this as 106 00:07:08,360 --> 00:07:11,079 a as a viable alternative. 107 00:07:11,839 --> 00:07:16,079 Speaker 4: So we should create a qualified account. And there has 108 00:07:16,199 --> 00:07:21,279 been some concern about fraud, waste, and abuse in the system. 109 00:07:21,319 --> 00:07:23,720 There has been some not as much as people would 110 00:07:24,000 --> 00:07:25,720 put on the table. Two point four million was the 111 00:07:25,800 --> 00:07:28,439 number last year people that are achieving the system was 112 00:07:28,480 --> 00:07:31,199 really four hundred and fifty thousand at OSCAR is twenty 113 00:07:31,240 --> 00:07:33,639 seven thousand people out of two point one million people 114 00:07:33,639 --> 00:07:35,879 that we cover, So it was one point three percent 115 00:07:36,399 --> 00:07:38,920 when we got down to the actual understanding of each 116 00:07:38,920 --> 00:07:42,079 of those people. But let's create a qualified account. That 117 00:07:42,240 --> 00:07:46,560 is the basis of the doorway to employers, government or 118 00:07:46,600 --> 00:07:50,399 individuals putting money into a qualified account that allows them 119 00:07:50,439 --> 00:07:52,800 to spend healthcare their way. So if we were consumers 120 00:07:52,839 --> 00:07:56,160 in charge of buying the product, you're going to have 121 00:07:56,199 --> 00:08:00,240 an impact on price. Every time consumers get control what 122 00:08:00,360 --> 00:08:03,399 they purchase, they have an effect on the underlying costs 123 00:08:03,399 --> 00:08:05,439 and the price of the services they buy. 124 00:08:05,600 --> 00:08:08,560 Speaker 1: That's the other big benefit with just putting the money 125 00:08:09,079 --> 00:08:12,759 on a card for you. You can't use it to 126 00:08:12,839 --> 00:08:21,560 buy anything other than approved medical services, doctor's bills, pharmacy bills, 127 00:08:22,319 --> 00:08:27,480 hospital bills, anything that is qualified. And he kept saying 128 00:08:27,480 --> 00:08:31,519 that qualified the money sits in that account for you. 129 00:08:31,639 --> 00:08:34,279 To be able to use. Now, let's say they put 130 00:08:34,440 --> 00:08:36,960 I don't know some number, ten thousand dollars on a 131 00:08:37,000 --> 00:08:40,759 card for you to use for your medical care. Well, 132 00:08:40,879 --> 00:08:43,440 if that's all you're going to have, there's no more 133 00:08:44,039 --> 00:08:46,480 so when you run out of that ten thousand dollars. 134 00:08:46,919 --> 00:08:48,720 So what you're going to do is you're going to 135 00:08:48,720 --> 00:08:52,320 pay attention to what the prices are of things that 136 00:08:52,360 --> 00:08:55,840 you're buying. If they say the doctor says you need 137 00:08:55,879 --> 00:08:58,519 to go over and have some X rays, well who 138 00:08:58,600 --> 00:09:01,480 does X rays for the best price? You don't ask 139 00:09:01,600 --> 00:09:05,720 that now because you don't care because the insurance companies 140 00:09:05,799 --> 00:09:09,039 pay that. You don't even know what the X ray 141 00:09:09,159 --> 00:09:15,679 tex charge. So I heard from this Mark Bertolini today 142 00:09:15,720 --> 00:09:20,519 and I thought that that is exactly what I would 143 00:09:20,559 --> 00:09:23,639 like to see. He's the CEO of Oscar Health, he was, 144 00:09:24,039 --> 00:09:29,120 he's been CEO of Verizon at he's an executive insurance executive. 145 00:09:31,080 --> 00:09:35,559 So anyway, that's my idea, along with the President, who 146 00:09:35,600 --> 00:09:38,200 wants to do something like that, and it would get 147 00:09:38,240 --> 00:09:41,399 the government out. I don't want Congress trying to create 148 00:09:41,799 --> 00:09:46,080 a solution to Obamacare. I don't want the government creating 149 00:09:46,200 --> 00:09:49,639 anything like that. They don't know how, and it becomes 150 00:09:49,720 --> 00:09:53,120 totally a political football, which is where ACA is today. 151 00:09:53,440 --> 00:09:55,919 As we're talking about the cost of things. Let's go 152 00:09:56,000 --> 00:10:01,799 to the affordability issue. This is now cut some attention 153 00:10:01,960 --> 00:10:05,519 by the White House. I played for you yesterday. Scott 154 00:10:05,559 --> 00:10:10,080 Bessant was out talking about affordability and he's very optimistic 155 00:10:10,120 --> 00:10:12,399 about how the economy is going to be doing next year. 156 00:10:12,679 --> 00:10:14,440 And a lot of that again goes back to the 157 00:10:14,440 --> 00:10:18,559 Biden administration. Was talking about the CPI and the GDP 158 00:10:18,919 --> 00:10:22,840 and this and the unemployment amount and all those nice 159 00:10:22,879 --> 00:10:29,360 statistics look good. The real question comes down to do 160 00:10:29,399 --> 00:10:32,360 you have money in your pocket at the end of 161 00:10:32,399 --> 00:10:35,720 the month, and when you go to the grocery store 162 00:10:35,799 --> 00:10:39,399 and you pay two hundred dollars for a basket of 163 00:10:39,440 --> 00:10:42,679 groceries were last year you paired, two years ago, four 164 00:10:42,759 --> 00:10:48,679 years ago you paid one hundred dollars, That's where the 165 00:10:48,720 --> 00:10:53,759 affordability issue pops up. So Steve Ratner, who was the 166 00:10:53,799 --> 00:10:58,799 former cars Are he's a big executive guy, financial executive guy. 167 00:10:59,360 --> 00:11:05,519 He went through a process about basically showing how productivity 168 00:11:06,519 --> 00:11:10,759 has fallen way off and as a result, even though 169 00:11:10,799 --> 00:11:16,159 you may be getting pay wage increases they're not. Your 170 00:11:16,240 --> 00:11:18,840 dollar is not being able to buy as much as 171 00:11:18,879 --> 00:11:22,399 it used to, and therefore you're unhappy. Here's Steve Rehnn. 172 00:11:22,879 --> 00:11:26,080 Speaker 5: Yeah, people wonder. Okay, so we have AI. I'll take 173 00:11:26,120 --> 00:11:27,759 you to your word that they're going to be jobs. 174 00:11:27,799 --> 00:11:30,240 But how does this help me? So let's look at again. 175 00:11:30,360 --> 00:11:32,679 I have to do history here. I can't do what's 176 00:11:32,720 --> 00:11:36,240 going to happen because who knows? What did Yogibara say? 177 00:11:36,480 --> 00:11:40,639 It's hard to predict history because it's the future or anyway. 178 00:11:41,080 --> 00:11:44,720 Innovation lowers prices. So here's four examples from history of 179 00:11:45,200 --> 00:11:49,000 innovations that have had a dramatic effect. Ford's model t famously, 180 00:11:49,039 --> 00:11:51,720 everybody knows, sold for eight hundred and twenty five dollars 181 00:11:51,759 --> 00:11:54,960 in nineteen oh eight. In today's dollars, that would be 182 00:11:55,000 --> 00:11:59,639 about thirty thousand dollars. The actual price, not adjusted for inflation, 183 00:12:00,039 --> 00:12:03,080 went down to two hundred and sixty dollars by nineteen 184 00:12:03,159 --> 00:12:05,960 twenty five, and that would be four thousand dollars in 185 00:12:06,000 --> 00:12:10,639 today's world. How did that happen? Assembly lines, more control, 186 00:12:10,720 --> 00:12:15,120 supply line again, learning efficiencies, long distance phone calls. Remember 187 00:12:15,159 --> 00:12:17,039 you had to pay for long distance phone calls. The 188 00:12:17,039 --> 00:12:20,279 first one cost twenty dollars in nineteen fifteen, six hundred 189 00:12:20,320 --> 00:12:23,480 and sixty dollars in today's money. Nineteen fifty five, when 190 00:12:23,559 --> 00:12:26,200 we had really good phones by then still cost three 191 00:12:26,279 --> 00:12:28,799 hundred and eighty dollars to call California. That would be 192 00:12:28,840 --> 00:12:31,799 forty five dollars today. And now, of course, with our 193 00:12:31,879 --> 00:12:36,559 unlimited plans, it's essentially free. Personal computers seven hundred and 194 00:12:36,559 --> 00:12:40,919 fifty dollars now at one hundred and fifty dollars, and 195 00:12:41,000 --> 00:12:43,519 it would have been five thousand, six thousand dollars if 196 00:12:43,519 --> 00:12:45,720 the price had stayed the same in today's dollars, and 197 00:12:45,759 --> 00:12:48,919 now it's one hundred and fifty. And then lastly, televisions 198 00:12:49,559 --> 00:12:52,639 m r CA early color television three hundred and eighty 199 00:12:52,720 --> 00:12:56,159 dollars twenty seven hundred dollars in today's prices. Now you 200 00:12:56,159 --> 00:12:59,919 can get yourself an HD flat screen will be tell 201 00:13:00,080 --> 00:13:02,440 Vision for one hundred and thirty dollars. So this is 202 00:13:02,679 --> 00:13:06,120 how the consumer benefit happens. Companies cut their costs through 203 00:13:06,159 --> 00:13:10,320 AI and other technologies, and eventually through competition, they get 204 00:13:10,360 --> 00:13:13,200 passed along the consumers, and then consumers spend that money 205 00:13:13,480 --> 00:13:16,200 and that creates jobs as they buy other things. And 206 00:13:16,240 --> 00:13:19,159 then lastly quickly, look, the most important thing in economy 207 00:13:19,200 --> 00:13:22,320 is productivity. How much more efficient we're getting that can 208 00:13:22,360 --> 00:13:25,200 be technology that can be working differently. You can see 209 00:13:25,200 --> 00:13:27,360 in what we consider now to be a golden age 210 00:13:27,399 --> 00:13:30,080 in economy, we were growing productivity at over two and 211 00:13:30,120 --> 00:13:32,919 a half percent. You can see in the seventies and eighties, 212 00:13:32,960 --> 00:13:35,639 which for the most part we consider a more difficult 213 00:13:36,279 --> 00:13:40,200 economic environment, productivity growth dropped dramatically. You can see in 214 00:13:40,200 --> 00:13:42,600 the nineties and the two thousands, which put aside the 215 00:13:42,600 --> 00:13:46,360 financial crisis, was also actually a pretty strong period. Productivity grew. 216 00:13:46,720 --> 00:13:48,440 But here and this gets right back to where we 217 00:13:48,519 --> 00:13:52,240 started this conversation. Here is where productivity is now. And 218 00:13:52,320 --> 00:13:55,840 so productivity isn't growing, and so real wages after inflation 219 00:13:55,879 --> 00:13:58,960 aren't growing, and so people are unhappy. And that's the 220 00:13:59,000 --> 00:14:03,039 sixty six percent disapproval rating that Donald Trump has first 221 00:14:03,039 --> 00:14:04,279 handling of the economy. 222 00:14:04,799 --> 00:14:08,639 Speaker 1: Yeah, that's the economy. Was what Donald Trump got elected on. 223 00:14:08,679 --> 00:14:11,000 People thought he would be doing a great job, and 224 00:14:11,039 --> 00:14:15,159 people are disappointed. But it really comes down to productivity 225 00:14:15,200 --> 00:14:17,840 has dropped like a rock, and so you're even though 226 00:14:17,840 --> 00:14:21,399 you get a wage increase, it doesn't go as far. 227 00:14:21,919 --> 00:14:23,519 And that's why when you go to the store and 228 00:14:23,559 --> 00:14:26,960 the prices that shot up during the inflation during the 229 00:14:27,039 --> 00:14:31,320 Biden administration, those prices haven't come down. Some have, some haven't, 230 00:14:32,039 --> 00:14:36,440 but inflation keeps pushing all prices back a little bit 231 00:14:36,480 --> 00:14:39,519 at a time. Inflation's running three percent right now. It 232 00:14:39,639 --> 00:14:44,159 was nine percent. Kevin has a National Council of Economic 233 00:14:44,200 --> 00:14:48,799 Advisors Chairman to the President. He also talks about this 234 00:14:49,000 --> 00:14:50,600 affordability issue. Yeah. 235 00:14:50,600 --> 00:14:52,759 Speaker 6: Absolutely, you know, we've got a lot of great facts 236 00:14:52,799 --> 00:14:55,360 to get out to the American people. The bottom line 237 00:14:55,399 --> 00:14:57,879 is that when Joe Biden and the Democrats are running 238 00:14:57,879 --> 00:15:01,000 the country over the last four years, bicoco American family 239 00:15:01,039 --> 00:15:04,120 lost three four hundred dollars worth of their purchasing power, 240 00:15:04,440 --> 00:15:07,240 And already in President Trump's first few months of this 241 00:15:07,399 --> 00:15:10,879 year then people have gained about twelve hundred of it back. 242 00:15:11,279 --> 00:15:15,159 And so we understand that people still feel the pain 243 00:15:15,320 --> 00:15:18,679 from the deep hole that Biden's policy's dug. But we're 244 00:15:18,679 --> 00:15:21,200 making up progress. We're making up progress fast. And you 245 00:15:21,240 --> 00:15:24,240 had a clip of Secretary Bested my good friend a 246 00:15:24,279 --> 00:15:26,360 little bit later saying that we're, you know, we're going 247 00:15:26,399 --> 00:15:28,840 to close the gap and fill the hole that Biden 248 00:15:28,879 --> 00:15:32,399 doug relatively quickly. We see really high wage growth and 249 00:15:32,559 --> 00:15:35,440 inflation is much more under control. But the fact is 250 00:15:35,519 --> 00:15:37,879 that for the typical family, when they went to the 251 00:15:37,879 --> 00:15:40,879 grocery store when President Trump took office, they would fill 252 00:15:40,960 --> 00:15:44,159 the typical grocery bags filled with about four hundred dollars 253 00:15:44,159 --> 00:15:46,960 worth of stuff, And that same amount of stuff after 254 00:15:47,039 --> 00:15:49,679 Joe Biden's four years costs almost five hundred and twenty 255 00:15:49,720 --> 00:15:50,360 five dollars. 256 00:15:50,799 --> 00:15:54,360 Speaker 1: So the way he measured his measures it you lost 257 00:15:54,360 --> 00:15:56,799 thirty four hundred dollars worth of buying power during the 258 00:15:56,840 --> 00:16:02,200 Biden administration. Three four hundred dollars they have through the 259 00:16:02,279 --> 00:16:06,080 economy growing since Donald Trump's been in office, we are 260 00:16:06,120 --> 00:16:10,080 gaining about twelve hundred dollars in our purchasing power. So 261 00:16:10,159 --> 00:16:15,200 we're still net underwater by twenty two hundred dollars. So 262 00:16:15,240 --> 00:16:20,200 they have essentially have to get that back up to 263 00:16:20,360 --> 00:16:23,159 where it was and even higher by the time the 264 00:16:23,200 --> 00:16:27,759 midterms come around next November. So they see the problem, 265 00:16:28,480 --> 00:16:31,320 and I would expect that you're going to see the 266 00:16:31,360 --> 00:16:34,000 President go out on as kind of like on the 267 00:16:34,039 --> 00:16:40,759 campaign trail, to start sharing facts. But that's that's nice 268 00:16:40,840 --> 00:16:43,600 but you still have to get down to when you 269 00:16:43,679 --> 00:16:47,159 and I pay for our groceries, pay for our gas, 270 00:16:47,799 --> 00:16:49,759 pay for whatever it is that you're buying on a 271 00:16:49,840 --> 00:16:54,279 regular basis. That has to be something that isn't a 272 00:16:54,360 --> 00:16:58,639 shocker like it is right now. So I wish them well. 273 00:16:59,559 --> 00:17:02,879 We'll see how they do. It's a big it's a 274 00:17:02,919 --> 00:17:06,240 big hurdle to try to get twenty two hundred dollars 275 00:17:06,240 --> 00:17:09,119 worth of purchasing power back for everybody in the next 276 00:17:09,200 --> 00:17:13,359 twelve months. So while we're talking about money, you want 277 00:17:13,400 --> 00:17:21,480 to talk about gambling. Gambling has absolutely skyrocketed in this country. 278 00:17:22,079 --> 00:17:26,440 Now we've had the NBA players and coaches. The coach 279 00:17:26,480 --> 00:17:30,680 and the player that have been indicted for gambling for 280 00:17:31,559 --> 00:17:35,039 NBA games. Now you have two pitches for the Cleveland 281 00:17:35,039 --> 00:17:40,000 Guardians that are also in trouble with the law. It's 282 00:17:41,440 --> 00:17:45,319 let's start this look at gambling by talking to Andy McCarthy, 283 00:17:46,079 --> 00:17:49,440 former DOJ lawyer, a Southern District of New York lawyer, 284 00:17:50,000 --> 00:17:52,640 about these baseball players and how much they There was 285 00:17:52,680 --> 00:17:55,880 a hearing yesterday, another one today. How much trouble those 286 00:17:55,920 --> 00:17:56,480 guys are in. 287 00:17:58,039 --> 00:18:00,920 Speaker 7: Yeah, I think with modern technology and the fact that 288 00:18:01,680 --> 00:18:04,799 since the Supreme Court decision in twenty eighteen. We now 289 00:18:04,839 --> 00:18:09,640 have legalized betting, so it's exploded as an industry. It's 290 00:18:09,839 --> 00:18:13,119 like one hundred and fifty billion dollars a year and climbing. 291 00:18:13,640 --> 00:18:16,440 And the teams which used to and the sports leagues 292 00:18:16,440 --> 00:18:18,680 which used to keep their distance from gambling, have now 293 00:18:18,759 --> 00:18:22,039 kind of embraced it as a partner. So we're going 294 00:18:22,079 --> 00:18:24,400 to have a lot of these new problems because the 295 00:18:24,920 --> 00:18:28,920 modern technology allows you to bet in real time during 296 00:18:28,920 --> 00:18:31,440 the games, and obviously it opens up a lot of 297 00:18:31,480 --> 00:18:36,400 possibility for fraud. Yes, those charges are all felony charges 298 00:18:36,480 --> 00:18:39,279 under federal law, and you know, look, this is the 299 00:18:39,359 --> 00:18:42,960 kind of thing that defense lawyers say when charges get announced. 300 00:18:43,759 --> 00:18:45,680 For all we know, behind the scenes, there could be 301 00:18:45,720 --> 00:18:49,200 plea negotiations going on. We'll just have to see how 302 00:18:49,240 --> 00:18:53,119 it unfolds. But I think it's very interesting that Baseball, 303 00:18:54,359 --> 00:18:57,400 in conjunction with its betting partners, has announced in the 304 00:18:57,440 --> 00:18:59,599 last few days that they're trying to crack down on 305 00:18:59,640 --> 00:19:04,440 these bets, particularly the pitch bets. They're limiting how much 306 00:19:04,480 --> 00:19:07,240 you can bet and whether you can parlay that with 307 00:19:07,359 --> 00:19:09,319 other kinds of bets. So they're aware that they have 308 00:19:09,400 --> 00:19:09,960 a problem. 309 00:19:10,160 --> 00:19:12,880 Speaker 1: Yeah, it's so easy to place a bet, and you 310 00:19:12,920 --> 00:19:16,200 can do it instantly before the pitcher throws the ball. 311 00:19:16,240 --> 00:19:17,680 You can bet on whether it's going to be a 312 00:19:17,720 --> 00:19:22,640 strike or a ball. I mean, it's insane how fast 313 00:19:22,680 --> 00:19:26,559 and easy it is to do gambling on that. So 314 00:19:26,599 --> 00:19:29,319 they're in big trouble. They're they got felonies facing them. 315 00:19:29,720 --> 00:19:33,359 Adam Johnson, who's a Wall Street trader, was talking about 316 00:19:33,359 --> 00:19:38,480 this earlier today, about the fact that some of the 317 00:19:38,480 --> 00:19:42,240 stocks like DraftKings and so forth, are getting the attention 318 00:19:42,440 --> 00:19:43,680 of big money. 319 00:19:43,920 --> 00:19:46,319 Speaker 8: But I'm long DraftKings, and I will tell you it's 320 00:19:46,319 --> 00:19:49,240 been under pressure recently. One of the reasons is people 321 00:19:49,359 --> 00:19:53,240 love to bet. And all these states that are running deficits, 322 00:19:53,599 --> 00:19:56,599 Blue states in particular, Illinois has been the leading the charge, 323 00:19:56,880 --> 00:20:01,480 suddenly slapping all kinds of taxes on Draftking and you know, 324 00:20:01,519 --> 00:20:03,799 they're trying to plug a hole, a fiscal hole at 325 00:20:03,799 --> 00:20:07,519 the state level, and unfortunately they're doing it by hitting people. 326 00:20:07,759 --> 00:20:09,759 You know, there's what's just sports betting. 327 00:20:09,920 --> 00:20:12,839 Speaker 1: Yeah, so it's the syntaxes And it's the same way 328 00:20:12,880 --> 00:20:15,599 when states were trying to figure out whether to legalize 329 00:20:15,599 --> 00:20:19,559 marijuana and what tipped them in favor of it. For 330 00:20:19,680 --> 00:20:23,599 many states was the money the taxes that they could collect. 331 00:20:24,039 --> 00:20:26,599 And it's the same thing here with gambling. They're looking 332 00:20:26,640 --> 00:20:29,559 at this as going to change to ching. We're going 333 00:20:29,640 --> 00:20:31,400 to make a lot of money off gambling, so of 334 00:20:31,400 --> 00:20:36,839 course we're for it. Steve Kirk, who is the chief 335 00:20:37,000 --> 00:20:41,400 brokerage officer at Robin Hood, is talking about the fact 336 00:20:41,440 --> 00:20:43,799 that robin has started off, you know, like a typical 337 00:20:44,720 --> 00:20:48,279 brokerage company where you buy and sell stocks and bonds. 338 00:20:48,759 --> 00:20:53,880 They're big now into the prediction slash gambling business. 339 00:20:54,119 --> 00:20:56,000 Speaker 9: Yeah, let me give you the quick history on how 340 00:20:56,039 --> 00:21:00,599 we got into the event contract prediction market. November of 341 00:21:00,680 --> 00:21:04,839 last year, around the election time, they became permissible and 342 00:21:04,920 --> 00:21:07,920 so the first thing we did there was on the election, 343 00:21:08,519 --> 00:21:13,559 and you know, the usage number of accounts we opened 344 00:21:13,759 --> 00:21:17,279 and the number of contracts we traded was just explosive, 345 00:21:18,119 --> 00:21:20,799 like six hundred million contracts in a week around the election. 346 00:21:21,640 --> 00:21:24,279 And from there, customers said, you know, this is an 347 00:21:24,319 --> 00:21:29,839 amazing new offering. We'd love to get into entertainment, you know, 348 00:21:30,319 --> 00:21:35,640 gdp CPI, even sports, which has become a big component 349 00:21:35,680 --> 00:21:37,079 of it. And I know you guys were talking about 350 00:21:37,079 --> 00:21:40,200 it this morning. So we're probably at about thirteen hundred 351 00:21:40,200 --> 00:21:44,079 contracts right now and a cross seven or eight categories, 352 00:21:44,759 --> 00:21:50,319 and there's tremendous excitement about it and interest from our customers. 353 00:21:50,359 --> 00:21:52,119 Speaker 1: And need have I mean crypto too. 354 00:21:52,119 --> 00:21:56,559 Speaker 5: But prediction markets are faster new business than. 355 00:21:57,079 --> 00:22:01,720 Speaker 9: Fastest, fastest growing business we've ever had. Is it Is 356 00:22:01,759 --> 00:22:07,319 it gambling? I don't think it's gambling. I don't, but 357 00:22:07,400 --> 00:22:10,160 I you know, again, the lines I think you guys 358 00:22:10,160 --> 00:22:13,400 talked about this morning, the lines are getting blurred in 359 00:22:13,480 --> 00:22:16,400 some areas because you're seeing some of the osbs come 360 00:22:16,440 --> 00:22:19,200 into the prediction markets. You're seeing that kind of go 361 00:22:19,319 --> 00:22:23,039 back and forth, and I think, you know, I think 362 00:22:23,039 --> 00:22:26,880 where like look from our customer's eyes, they're young, thirty 363 00:22:27,119 --> 00:22:29,079 some year olds. This is a sweet spot for them. 364 00:22:29,279 --> 00:22:30,640 You know, they want to be able to do all this. 365 00:22:30,960 --> 00:22:35,279 They see a differentiation between placing a bet on I 366 00:22:35,279 --> 00:22:38,000 don't know who's going to make the next touchdown and 367 00:22:38,720 --> 00:22:40,759 deciding which stocks they want to own. 368 00:22:40,839 --> 00:22:42,759 Speaker 7: Is there a differentiation in that mentality? 369 00:22:44,039 --> 00:22:47,079 Speaker 9: I don't think there's differentiation in that mentality because they 370 00:22:47,119 --> 00:22:49,720 just want to express their opinion and put finance something, 371 00:22:49,799 --> 00:22:54,240 you know, an investment behind it. It's really interesting because 372 00:22:54,279 --> 00:22:57,720 the question we constantly get asked is who is Who's 373 00:22:57,759 --> 00:23:01,240 who's trading these Yeah, and it's a highly different audience 374 00:23:01,319 --> 00:23:04,960 for economic indicators than it is for cultural than it 375 00:23:05,039 --> 00:23:07,839 is for sports, than it is for election. So it's 376 00:23:07,920 --> 00:23:11,960 kind of like we run the gamut of customers that 377 00:23:12,039 --> 00:23:12,960 have interest in this. 378 00:23:13,720 --> 00:23:17,519 Speaker 1: So that's the chief brokerage officer for robin Hood. But 379 00:23:17,640 --> 00:23:22,039 in the news today, fan Duel is debuting a prediction 380 00:23:22,200 --> 00:23:27,559 market so they can compete against Calshee, which is one 381 00:23:27,599 --> 00:23:30,599 of the big prediction markets out there. A lot of 382 00:23:30,599 --> 00:23:34,319 the brokerage firms are getting involved, and the parent of 383 00:23:35,079 --> 00:23:39,519 UFC struck a deal with poly Market today to integrate 384 00:23:39,599 --> 00:23:47,240 prediction markets into the UFC fights. So the gambling, it 385 00:23:47,319 --> 00:23:52,200 has absolutely exploded, and like the guy from Robinhood said, 386 00:23:52,640 --> 00:23:58,559 it's the biggest thing that they've had by far. So 387 00:23:59,200 --> 00:24:00,799 I don't know what's going to happened to it. But 388 00:24:01,359 --> 00:24:07,240 gambling is one of those things like alcohol and drugs, 389 00:24:07,279 --> 00:24:10,720 and it's one of the sins that if you can 390 00:24:10,839 --> 00:24:15,880 control yourself, it's entertainment. If you can't control yourself, it 391 00:24:15,920 --> 00:24:19,920 can be devastating. So we have some court cases to 392 00:24:19,960 --> 00:24:22,160 talk about we're not We didn't get a decision today, 393 00:24:22,200 --> 00:24:27,519 but the lawyers for James Komy and Letitia James, two 394 00:24:27,599 --> 00:24:32,319 separate cases, but they went to a judge today and 395 00:24:32,359 --> 00:24:39,920 said dismiss our cases because of the fact that the 396 00:24:39,960 --> 00:24:46,440 prosecutor in this case is Lindsey Halligan, she isn't a 397 00:24:46,519 --> 00:24:52,039 legitimate prosecutor. And Elie Honig, former Southern District of New 398 00:24:52,119 --> 00:24:57,079 York prosecutor or former DOJ prosecutor, explains what the argument 399 00:24:57,240 --> 00:25:01,160 is before the judge for both Comy and Letitia James. 400 00:25:01,319 --> 00:25:03,920 Speaker 10: Ordinarily, the way we get US attorneys is the President 401 00:25:04,000 --> 00:25:07,359 nominates and then the Senate confirms. But federal law tells 402 00:25:07,440 --> 00:25:10,440 us that where that process has not happened, the Attorney 403 00:25:10,480 --> 00:25:13,519 General has the authority to choose somebody to serve as 404 00:25:13,519 --> 00:25:16,400 a temporary US attorney for up to one hundred and 405 00:25:16,400 --> 00:25:19,000 twenty days. After that one hundred and twenty days, it 406 00:25:19,079 --> 00:25:22,200 then goes to the federal district court judges of that 407 00:25:22,319 --> 00:25:25,400 district to choose somebody. Now that's what happened here in 408 00:25:25,440 --> 00:25:28,319 the Eastern District of Virginia, and named Eric Siebert was 409 00:25:28,319 --> 00:25:29,920 put in. He did his one hundred and twenty days, 410 00:25:29,920 --> 00:25:32,559 and then the judges chose him Eric Sebert. But the 411 00:25:32,599 --> 00:25:36,519 problem is Siebert then resigned, leaving a vacancy. He resigned 412 00:25:36,559 --> 00:25:39,279 under pressure, and at that point the Attorney General put 413 00:25:39,279 --> 00:25:41,559 in a new person, Lindsay Halligan, who's now the US 414 00:25:41,559 --> 00:25:44,759 Attorney So Comey and James are arguing that was improper. 415 00:25:44,839 --> 00:25:47,680 The law only allows the ag to make one of 416 00:25:47,680 --> 00:25:51,039 those one hundred and twenty day appointments, and not serially, 417 00:25:51,119 --> 00:25:54,079 not one after another after another. That's the argument they're 418 00:25:54,079 --> 00:25:56,480 making right in court right now today. So the first 419 00:25:56,559 --> 00:25:59,119 argument that the Justice Department has made is that the 420 00:25:59,200 --> 00:26:01,559 law does not say there can only be one one 421 00:26:01,599 --> 00:26:04,200 hundred and twenty day appointment. It doesn't actually say anything 422 00:26:04,240 --> 00:26:07,200 about a limit. The second argument is that the Attorney 423 00:26:07,240 --> 00:26:11,359 General also named Lindsay Halligan as a quote special attorney, 424 00:26:11,680 --> 00:26:14,519 and that's good enough. And the final argument that DOJ 425 00:26:14,720 --> 00:26:19,119 is making that is, even if Lindsay Halligan was improperly appointed, 426 00:26:19,279 --> 00:26:21,880 that does not mean these indictments should be thrown out. 427 00:26:21,920 --> 00:26:25,599 The prosecutor's signature is not an actual substantive part of 428 00:26:25,640 --> 00:26:28,799 the indictment. It's just an administrative step. What really matters 429 00:26:29,079 --> 00:26:31,319 is that the Grandeur has heard the evidence and voted 430 00:26:31,359 --> 00:26:32,079 for an indictment. 431 00:26:32,119 --> 00:26:33,319 Speaker 8: So that's the counter argument. 432 00:26:33,640 --> 00:26:36,799 Speaker 1: Okay, So the judge in this this ruling or hearing 433 00:26:36,799 --> 00:26:40,559 today said that there will be a ruling before Thanksgiving, 434 00:26:40,640 --> 00:26:44,119 so two weeks Thanksgivings two weeks from today, so there 435 00:26:44,799 --> 00:26:49,599 will be a ruling on for both James Comy and 436 00:26:49,680 --> 00:26:52,880 Letitia James. And by the way, those are, like I said, 437 00:26:52,880 --> 00:26:57,000 two separate cases. Comy was about charged with line to 438 00:26:57,200 --> 00:27:02,279 Congress and Ladisha James about more gage fraud. So speaking 439 00:27:02,599 --> 00:27:07,680 of mortgage fraud, guess what happened late this afternoon. Bill Poulti, 440 00:27:07,759 --> 00:27:13,039 the head of the Federal Housing Mortgage Group, has filed 441 00:27:13,160 --> 00:27:19,200 a criminal referral to the Department of Justice for Eric Swalwell, 442 00:27:19,279 --> 00:27:25,039 the Congressman from California. So this is now, this is yes, 443 00:27:25,240 --> 00:27:27,880 on top of a number of them, We've got Adam Schiff, 444 00:27:28,599 --> 00:27:32,880 Latsia James. There's a series of these that Bill Poulty 445 00:27:33,039 --> 00:27:36,880 has a referred a criminal a criminal referral to the DOJ. 446 00:27:37,279 --> 00:27:41,440 That doesn't mean that that Swalwell has been charged with anything. 447 00:27:41,839 --> 00:27:44,160 It's up to the Department of Justice to take a 448 00:27:44,200 --> 00:27:47,599 look at the facts and see whether or not they 449 00:27:47,640 --> 00:27:51,160 think he committed to crime, and if so, they'll go 450 00:27:51,200 --> 00:27:54,319 to a grand jury. So that's kind of the breaking 451 00:27:54,359 --> 00:28:01,359 stuff here late this afternoon as far as goes, let's 452 00:28:01,359 --> 00:28:05,279 look at the airports. Light Aware has their cancelation page 453 00:28:05,359 --> 00:28:08,519 and there's still a lot of them out there. One 454 00:28:09,359 --> 00:28:16,359 seventeen cancelations today, two thousand, four hundred and seventy eight delays. 455 00:28:16,400 --> 00:28:21,480 The number one airport for delays and cancelations would be 456 00:28:21,599 --> 00:28:30,240 Chicago O'Hare, followed by Atlanta and then Denver, then Newark, Dallas, 457 00:28:30,240 --> 00:28:34,160 Fort Worth, and Seattle are in that group. So the 458 00:28:34,200 --> 00:28:37,640 airline with the most cancelations the regional carrier sky West, 459 00:28:38,440 --> 00:28:42,680 and then Southwest Republic another regional carrier, and then in 460 00:28:42,880 --> 00:28:47,000 Dever and Envoy all of those other than Southwestern regional 461 00:28:48,279 --> 00:28:52,880 regional carriers, which is where everybody suspected they would probably 462 00:28:52,880 --> 00:28:55,880 do most of the cancelations because they don't carry that 463 00:28:56,000 --> 00:28:59,880 many passengers in their planes, but they take up airspaces 464 00:29:00,079 --> 00:29:02,400 as much as it doesn't matter whether they're a little 465 00:29:02,400 --> 00:29:05,279 plane or a big plane, that can have two planes 466 00:29:05,319 --> 00:29:08,720 in the same spot at the same time. So that's 467 00:29:08,759 --> 00:29:15,640 what's going on there. The Epstein story is blowing up. 468 00:29:15,759 --> 00:29:22,640 It seems to me that the emails that have come out, well, 469 00:29:22,720 --> 00:29:26,559 the whole thing smells to high heavens. Bottom line, I'm 470 00:29:26,599 --> 00:29:31,279 in favor of releasing anything and everything in regarding as 471 00:29:31,359 --> 00:29:36,240 Epstein these there are people out there that are walking 472 00:29:36,279 --> 00:29:39,559 the streets that are pedophiles. I'm sorry. I don't think 473 00:29:39,599 --> 00:29:44,599 anybody should have any sympathy for anybody that physically sexually 474 00:29:44,640 --> 00:29:50,200 attacks a child. So I'm all for releasing everything. I 475 00:29:50,279 --> 00:29:56,079 don't understand why the president is fighting this. It makes 476 00:29:56,160 --> 00:30:01,079 him look like he's trying to hide something, and it's 477 00:30:01,119 --> 00:30:07,079 not a good look. So he's mentioned in the emails. 478 00:30:07,160 --> 00:30:10,559 We know, and I don't Donald Trump's funny about this 479 00:30:10,599 --> 00:30:14,240 sort of stuff. He gets very upset about things that 480 00:30:15,039 --> 00:30:18,799 if he would just chill a little bit. Everybody knows 481 00:30:18,880 --> 00:30:23,200 that he and Epstein were friends for probably a decade, 482 00:30:23,920 --> 00:30:27,640 but then sounds like, well, Trump got rid of him, 483 00:30:27,839 --> 00:30:30,440 kicked him out of Marro Logo because he was trying 484 00:30:30,440 --> 00:30:33,200 to recruit some of the young women that worked there 485 00:30:33,240 --> 00:30:36,759 to go over and work for Epstein. Trump didn't like 486 00:30:36,799 --> 00:30:40,400 it and said get out. So their friendship was left 487 00:30:40,440 --> 00:30:45,519 with bad blood. So the emails with Epstein saying bad 488 00:30:45,559 --> 00:30:49,319 things about Trump. I understand that that makes sense to me. 489 00:30:49,480 --> 00:30:52,599 That ties in with exactly what Donald Trump has said 490 00:30:52,640 --> 00:30:57,720 in the past. What the mainstream media on the left 491 00:30:57,799 --> 00:31:01,720 especially is talking about the fact that there's an email 492 00:31:01,799 --> 00:31:07,240 that says that a blank victim was with Donald Trump 493 00:31:08,079 --> 00:31:13,039 for quite a few hours on one particular day. The 494 00:31:13,519 --> 00:31:16,039 problem with that is it makes it look real shady. 495 00:31:16,200 --> 00:31:20,799 And yet the name that when you take that off 496 00:31:20,839 --> 00:31:27,119 redact that it was Virginia Gouffrey, and Virginia Gouffrey she 497 00:31:27,440 --> 00:31:30,640 passed away, but in her book she made it clear 498 00:31:31,559 --> 00:31:35,839 that she never saw Donald Trump do anything that was 499 00:31:36,400 --> 00:31:41,279 wrong or with her or anybody else. So this, by 500 00:31:41,319 --> 00:31:45,279 putting this this blackout on there, makes it look even shadier. 501 00:31:45,319 --> 00:31:48,480 But I think the president should come forward and clear 502 00:31:48,519 --> 00:31:51,400 this whole thing up and release all of the documents. 503 00:31:51,839 --> 00:31:54,480 I suspect he's getting a lot of pressure from some 504 00:31:54,599 --> 00:32:00,240 big money people, probably some donors that are saying protect me, 505 00:32:00,240 --> 00:32:03,240 protect me, protect me. I don't want the public to 506 00:32:03,279 --> 00:32:06,279 find out that I'm a pedophile. I think that's what 507 00:32:06,319 --> 00:32:10,160 they're that's what's going on, So that does Otherwise it 508 00:32:10,160 --> 00:32:12,680 doesn't make any sense to me. So this is next week, 509 00:32:12,720 --> 00:32:15,559 the House is going to vote on whether to release 510 00:32:15,880 --> 00:32:21,000 all of the Epstein files that the Department of Justice has. 511 00:32:21,160 --> 00:32:23,920 And this brings up the fact that Pam Bondi is 512 00:32:23,960 --> 00:32:26,440 not looking good here. She said, oh no, we don't 513 00:32:26,480 --> 00:32:29,599 have anything else, and we now know, oh yes, they 514 00:32:29,640 --> 00:32:35,480 do thousands and thousands of more documents. So the whole 515 00:32:35,480 --> 00:32:37,640 thing smells to high Evans. But I got to tell you, 516 00:32:37,680 --> 00:32:41,599 as much as I I find most of what Donald 517 00:32:41,640 --> 00:32:46,599 Trump does, I'm supportive some things I am not. In 518 00:32:46,640 --> 00:32:49,440 this case, I'm supporting the fact that he does not 519 00:32:49,680 --> 00:32:54,720 appear to have done anything regarding pedophilia or anything with 520 00:32:54,839 --> 00:32:59,200 the young ladies that Jeffrey Epstein recruited. But we'll wait 521 00:32:59,240 --> 00:33:01,880 for the facts, and we'll wait for that House vote 522 00:33:01,880 --> 00:33:06,200 next week. It'll dominate the story when that comes out, 523 00:33:06,480 --> 00:33:08,119 but it's going to take quite a while to go 524 00:33:08,200 --> 00:33:11,519 through all the documents they have. All Right Wall Street 525 00:33:11,759 --> 00:33:16,319 to day, let's take a look. The market was down 526 00:33:18,079 --> 00:33:23,160 big again. This is the markets getting very very follatile, 527 00:33:24,480 --> 00:33:27,559 worse day in over a month. The Dow Jones industrials 528 00:33:27,599 --> 00:33:31,920 down seven hundred and ninety seven points to off the 529 00:33:31,960 --> 00:33:34,799 record high that we set yesterday, down to forty seven, 530 00:33:35,400 --> 00:33:39,319 four to fifty seven. SMP got hammered down one hundred 531 00:33:39,319 --> 00:33:45,640 and thirteen, Nasdaq down substantially down five hundred and thirty six, 532 00:33:46,240 --> 00:33:49,400 Gold down thirty three dollars to forty one point eighty, 533 00:33:50,000 --> 00:33:52,640 and the price of oil up just a few pennies. 534 00:33:52,680 --> 00:33:56,279 It's at fifty just under fifty nine dollars for one 535 00:33:56,559 --> 00:33:59,599 barrel of oil. Thank you for coming by today. We 536 00:33:59,680 --> 00:34:02,400 will be here again tomorrow. Hope to see you then 537 00:34:02,440 --> 00:34:02,839 as well.