1 00:00:00,480 --> 00:00:03,520 Speaker 1: Give the devil is due, they say. John Stewart's writers 2 00:00:03,560 --> 00:00:06,879 are clever people. They decided to have John Stewart become 3 00:00:06,960 --> 00:00:09,480 a doge guy. We'll talk about this with the help 4 00:00:09,519 --> 00:00:13,080 of Zach Abraham, Chief investment Officer Bulwarck Capital Managements, and 5 00:00:13,080 --> 00:00:15,400 we can do nothing that matters that God Almighty, Thank 6 00:00:15,439 --> 00:00:15,839 you Lord. 7 00:00:17,239 --> 00:00:21,559 Speaker 2: But Todd Herman show is one disapproved but big pharma 8 00:00:21,800 --> 00:00:29,359 technocrats in Tyrn's everywhere from the high mountains of Free 9 00:00:29,399 --> 00:00:34,079 American here's the Emerald City exile. 10 00:00:35,799 --> 00:00:41,719 Speaker 1: Todd Herman. Today is a day the Lord has made, 11 00:00:41,799 --> 00:00:44,079 and these are the times to which God has decided 12 00:00:44,079 --> 00:00:47,399 we shall live. Zach Abraham, chief investment Officer Bowarck Cupital Management, 13 00:00:47,520 --> 00:00:49,960 joins me. Zach wilcome back to the show. Good to 14 00:00:50,000 --> 00:00:50,359 see you. 15 00:00:52,039 --> 00:00:54,640 Speaker 3: I can, I'll tell you, man, since Trump got elected, 16 00:00:55,560 --> 00:00:57,520 We've always had fun doing this. I always look forward 17 00:00:57,520 --> 00:01:00,159 to it every week too, but I look forward. I 18 00:01:00,200 --> 00:01:02,479 look forward. I look forward to it even more now 19 00:01:02,520 --> 00:01:06,239 just because it's like there's too much right what end 20 00:01:06,239 --> 00:01:07,920 of the pool are we going to jump into? Oh? 21 00:01:08,000 --> 00:01:11,040 Speaker 1: I totally agree, And I'm watching the panic over Doge 22 00:01:11,079 --> 00:01:17,000 and what they're surfacing to see people protesting against stating 23 00:01:17,040 --> 00:01:23,439 what they accomplished during a week, to panic that we're 24 00:01:23,480 --> 00:01:26,439 not actually going to have automatic renewals of contracts. This 25 00:01:26,519 --> 00:01:29,560 is a new one that contracts are actually going to 26 00:01:29,599 --> 00:01:32,840 have to be reviewed before they're renewed. And there's utter 27 00:01:32,959 --> 00:01:35,879 panic on this. And as a business guy, I mean, 28 00:01:35,920 --> 00:01:37,640 you're far more business guye than I had. I left 29 00:01:37,640 --> 00:01:40,120 that behind. I just had a small podcasting a radio business. 30 00:01:40,120 --> 00:01:42,159 But as a business guide, this has got to be 31 00:01:42,200 --> 00:01:44,560 endlessly amusing and a sense of great joy for you. 32 00:01:48,280 --> 00:01:51,359 Speaker 3: Amusing certainly. Did you see the video. I think the 33 00:01:51,400 --> 00:01:54,560 woman was on CNN being interviewed. Did you see her? 34 00:01:54,719 --> 00:01:57,480 And she's like, you get this email and then the 35 00:01:57,519 --> 00:02:01,079 pressure you're under in forty eight hours and I'm just 36 00:02:01,079 --> 00:02:06,079 sitting there going five bullet five bullet points, what really? 37 00:02:06,680 --> 00:02:13,280 And that's one thing per day? And then listening to 38 00:02:13,319 --> 00:02:16,120 the people come out. I saw one guy that's now 39 00:02:16,520 --> 00:02:19,120 works for I don't know, he's in the state legislature 40 00:02:19,120 --> 00:02:21,400 for Illinois at some role or whatever. Yeah, and he 41 00:02:21,439 --> 00:02:24,479 comes out and a Democrat to come out and he's, well, 42 00:02:24,599 --> 00:02:26,520 you know, I was in I hear people saying this 43 00:02:26,560 --> 00:02:28,000 is no big deal. But as a guy that was 44 00:02:28,039 --> 00:02:29,879 in the private sector for so many years and ten 45 00:02:29,960 --> 00:02:32,439 years as CEO. You know, I can tell you and 46 00:02:32,479 --> 00:02:34,319 I and I and I retweeted and I was like, hey, Sean, 47 00:02:34,439 --> 00:02:36,360 the guy's name is Sean. And I go, it's called 48 00:02:36,360 --> 00:02:41,400 a performance audit, right, And they typically happened between four 49 00:02:41,439 --> 00:02:44,319 to one times a year. And he goes for people 50 00:02:44,360 --> 00:02:46,280 to be getting this daily, and I go, they're not 51 00:02:46,520 --> 00:02:49,960 giving it daily. It's once and and performance on. It's 52 00:02:50,000 --> 00:02:54,199 almost always occurr in companies when new people are put 53 00:02:54,280 --> 00:02:58,719 over that department proud like you know this in micros. 54 00:02:58,960 --> 00:03:01,759 It was so funny watching that because I was like, yeah, 55 00:03:01,800 --> 00:03:04,319 so guys, now you know what corporate America is like. 56 00:03:04,400 --> 00:03:06,560 That's what happens when a new director comes in. Who 57 00:03:06,599 --> 00:03:08,520 are you and what do you do? Actulutely? 58 00:03:08,719 --> 00:03:11,960 Speaker 1: Actually, yes, excellent way to put it. There's also this, 59 00:03:12,000 --> 00:03:15,520 if you're a smart manager, you manage up so yes. 60 00:03:15,680 --> 00:03:18,520 As a manager of people, I would send notes to 61 00:03:18,639 --> 00:03:21,520 my boss saying, hey, hope the trip to New York 62 00:03:21,599 --> 00:03:23,159 went well. Let me know if I can provide in 63 00:03:23,199 --> 00:03:25,360 a cover when you come back. Anything you need the 64 00:03:25,560 --> 00:03:27,400 kind of a busy week. Here's some bullets and some 65 00:03:27,439 --> 00:03:30,319 things the team got done. The team's been fantastic. They've 66 00:03:30,319 --> 00:03:33,599 been really killing it. And quick read. And I'd always 67 00:03:33,680 --> 00:03:35,599 start at an email like that, like this is about 68 00:03:35,599 --> 00:03:39,000 a three minute read. You're busy, boss, And when you 69 00:03:39,080 --> 00:03:43,360 provide information on what you're doing without being asked, guess 70 00:03:43,360 --> 00:03:45,840 what the next performance review is? Like, it's far far 71 00:03:45,879 --> 00:03:47,680 better because you could actually dig into ways the boss 72 00:03:47,719 --> 00:03:49,919 can help you. It's not just to check on what 73 00:03:49,960 --> 00:03:51,080 you're doing. How can I help? 74 00:03:52,000 --> 00:03:54,240 Speaker 3: Yeah, and there's a direct correlation here. And here's what 75 00:03:54,319 --> 00:03:57,479 irritates me so much. And regardless again of political affiliation, 76 00:03:57,560 --> 00:04:00,400 this is what people in this country need to understand. Okay, 77 00:04:01,240 --> 00:04:05,719 we do performance audits once a week. Okay, so we 78 00:04:05,879 --> 00:04:08,439 track how many leads, how many people have called in 79 00:04:08,479 --> 00:04:11,240 that our guys have contacted, have they done the right 80 00:04:11,319 --> 00:04:12,879 We're doing it once a week. Do you know why? 81 00:04:13,759 --> 00:04:17,279 Because I can't afford not to. I can't that money 82 00:04:17,279 --> 00:04:19,920 I'm spending on that marketing and all these other things. 83 00:04:20,120 --> 00:04:23,480 It's too expensive. I've got to know where my dollars 84 00:04:23,519 --> 00:04:27,600 are going. What you are seeing is the disdain for 85 00:04:27,680 --> 00:04:32,040 the US taxpayer and the complete detachment from any sense 86 00:04:32,079 --> 00:04:36,240 of fiduciary responsibility whatsoever, and to sit there and say 87 00:04:36,240 --> 00:04:42,079 a performance. I mean again, if we could get outside 88 00:04:42,120 --> 00:04:46,480 the petty politics that are just just just completely off 89 00:04:46,519 --> 00:04:50,079 course and just over the top right now, everybody should 90 00:04:50,120 --> 00:04:53,199 sit back and go. We should all be concerned that 91 00:04:53,199 --> 00:04:56,240 that is a pervasive attitude in our federal government. And 92 00:04:56,399 --> 00:05:00,439 no wonder we're thirty seven trillion in debt. Forget about 93 00:05:00,480 --> 00:05:03,160 this piece of accounting or where the money went. If 94 00:05:03,199 --> 00:05:05,800 you want to know why we're thirty seven trillion in debt, 95 00:05:06,279 --> 00:05:07,759 listen to what that woman. 96 00:05:07,519 --> 00:05:11,959 Speaker 1: Has to say and how she says it. She's emotionally 97 00:05:12,040 --> 00:05:14,959 impacted by this, right, and that's been another thing that 98 00:05:15,000 --> 00:05:16,959 it's talking about. We talked about this last week about 99 00:05:16,959 --> 00:05:19,639 the culture change in this. So John Stewart's writers did 100 00:05:19,639 --> 00:05:23,079 something super clever, and this is getting a huge traffic 101 00:05:23,120 --> 00:05:26,079 on YouTube because John Stewart he's gone doze and he 102 00:05:26,120 --> 00:05:29,839 gets out his little calculator, the old kind with a 103 00:05:29,839 --> 00:05:31,680 piece of paper that comes out for what those things 104 00:05:31,680 --> 00:05:33,879 are called. We see use those And I want to 105 00:05:33,920 --> 00:05:36,160 go through this with you, Zach, because we'll just go 106 00:05:36,360 --> 00:05:38,399 through item by item on this. We'll do this in 107 00:05:38,480 --> 00:05:41,279 just a second There's a company called babt Mesias I 108 00:05:41,319 --> 00:05:44,560 work with. They're constantly doing just what Zach talked about 109 00:05:44,800 --> 00:05:47,279 are to this day. One of the owners Wade, he's 110 00:05:47,319 --> 00:05:50,199 one of the co founders. He manns the customer service lines. 111 00:05:50,360 --> 00:05:53,600 To this day, he goes and spends about a day 112 00:05:53,720 --> 00:05:57,480 or two a month and he's taking phone calls from customers. 113 00:05:58,000 --> 00:06:00,519 He does this because he hears things that don't bubble 114 00:06:00,560 --> 00:06:03,480 up sometimes through customer service reviews. It's his way of 115 00:06:03,519 --> 00:06:06,240 having contact with the customer. These guys care so much 116 00:06:06,279 --> 00:06:08,399 about what they do. Part of this is because they 117 00:06:08,480 --> 00:06:11,079 themselves use the product. They believe so much in it 118 00:06:11,720 --> 00:06:14,480 that Wade is giving his newborn baby. Now, he used 119 00:06:14,519 --> 00:06:18,000 to dilutes these you make sure it's appropriate dosages for 120 00:06:18,040 --> 00:06:21,079 the baby. But he's giving his baby mass simes. Why 121 00:06:21,800 --> 00:06:25,279 because it is the amino acids in our bodies that 122 00:06:25,319 --> 00:06:28,319 build muscle, not protein. You break the proteins down, the 123 00:06:28,360 --> 00:06:31,079 resulting amino acids build muscle. He wants his kid to 124 00:06:31,120 --> 00:06:32,920 get the most out of the breast milk he has 125 00:06:32,920 --> 00:06:35,519 from his wife. That's hoo much they believe in the product. 126 00:06:35,560 --> 00:06:37,639 You know your body. You might be short on sleep, 127 00:06:37,680 --> 00:06:40,759 you might have lack of regularity, you might be constantly anxious. 128 00:06:41,439 --> 00:06:44,000 From their own labs. They have products for all of this, 129 00:06:44,120 --> 00:06:46,959 and they've been in these businesses for decades. Go to 130 00:06:46,959 --> 00:06:49,639 Boptimizers dot com, slash Todd promo code tod. You get 131 00:06:49,639 --> 00:06:52,680 temper sent off all their products there, Boptimizers dot com 132 00:06:52,720 --> 00:06:55,360 slash Todd promo code Todd. And when you subscribe, you 133 00:06:55,399 --> 00:06:57,160 just get a better deal. You don't run out of product, 134 00:06:57,199 --> 00:07:00,319 you get exclusive discounts. They're constantly looking to them prove 135 00:07:00,920 --> 00:07:04,360 so Zach, here's what John Sewartt did saying that he 136 00:07:04,399 --> 00:07:08,600 could save people money. He's talking here about largely about 137 00:07:08,639 --> 00:07:10,519 gas and oil companies. Let's watch this. 138 00:07:10,720 --> 00:07:13,959 Speaker 4: I'm starting to think that we as a country don't 139 00:07:14,079 --> 00:07:18,120 understand where the real waste, fraud and abuse in our 140 00:07:18,199 --> 00:07:22,519 system really is. Oh, how about we just take three 141 00:07:22,639 --> 00:07:25,480 billion dollars in subsidies we give to oil and gas 142 00:07:25,519 --> 00:07:28,439 companies that already turned billions in profits. 143 00:07:28,680 --> 00:07:34,480 Speaker 3: How long did that take? Oh? 144 00:07:34,560 --> 00:07:37,439 Speaker 4: Wait, how have we just closed down the carried interest 145 00:07:37,439 --> 00:07:38,720 loopoole on hedge funds? 146 00:07:39,000 --> 00:07:41,560 Speaker 3: That's one point three billion dollars a year. 147 00:07:41,800 --> 00:07:45,480 Speaker 4: Oh how about we stopped the two trillion dollars We've 148 00:07:45,519 --> 00:07:48,199 given the defense contractors to build a fighter. 149 00:07:47,920 --> 00:07:49,600 Speaker 3: Jet that blows. 150 00:07:49,720 --> 00:07:51,920 Speaker 4: When everybody knows the next war is going to be 151 00:07:51,920 --> 00:07:56,120 fought with drones and blockchain whatever that is. I can't 152 00:07:56,160 --> 00:07:56,839 believe it's silk. 153 00:07:56,839 --> 00:07:58,399 Speaker 1: Pretty joke at the just. 154 00:07:58,360 --> 00:08:00,000 Speaker 3: Billions of dollars in a lie. 155 00:08:00,079 --> 00:08:03,199 Speaker 1: Even said, you're so good, John Stewart. So let's recap 156 00:08:03,360 --> 00:08:06,800 eleven billion dollars are going to save removing subsidies for 157 00:08:06,839 --> 00:08:10,600 big oil companies, subsidies, one point three billion for a 158 00:08:10,639 --> 00:08:14,160 hedge fund carried interest loophole, and two trillion in funding 159 00:08:14,240 --> 00:08:17,439 on a jet. He did it. That's the big doge man. 160 00:08:17,480 --> 00:08:20,000 So let's start at the very top with these oil companies. 161 00:08:20,160 --> 00:08:20,319 Speaker 2: Zach. 162 00:08:20,360 --> 00:08:22,040 Speaker 1: We got to just shut these oil companies down and 163 00:08:22,040 --> 00:08:22,800 save us all money. 164 00:08:23,920 --> 00:08:27,160 Speaker 3: Yeah, so let's let's let's get back to reality of 165 00:08:27,199 --> 00:08:33,120 brass taxers. Okay, So, until the miracle of cold fusion 166 00:08:34,240 --> 00:08:37,799 is granted upon us mere mortals, we have to deal 167 00:08:37,840 --> 00:08:42,360 with the realities of sewling an economy. And two, there 168 00:08:42,440 --> 00:08:46,159 is a certain amount of subsidy. Now listen, do I 169 00:08:46,200 --> 00:08:50,279 think those subsidies need to be revisited? Absolutely? Should they 170 00:08:50,320 --> 00:08:52,639 be just? I think they should be examined, just like 171 00:08:52,679 --> 00:08:54,320 we're looking at dose. I think now is the time 172 00:08:54,320 --> 00:08:58,080 to look at everything inefficiency. The one thing I will 173 00:08:58,120 --> 00:09:01,960 say is that I I am open to the idea 174 00:09:02,200 --> 00:09:08,080 of certain oils being subsidized based on something John Stewart 175 00:09:08,080 --> 00:09:11,960 has absolutely no clue about, which is the refining process 176 00:09:12,039 --> 00:09:15,240 and the mix of products. Okay, so we must have 177 00:09:15,960 --> 00:09:19,559 the domestic capability to create all of the fuel that 178 00:09:19,600 --> 00:09:25,360 we need here in the continental United States. Now, I Todd, 179 00:09:25,440 --> 00:09:28,919 I am not sure on this. I probably ask Chase, 180 00:09:28,960 --> 00:09:30,759 my head of research. He'll probably know it right off 181 00:09:30,759 --> 00:09:32,600 the top of his head because he's an oil nut. 182 00:09:32,799 --> 00:09:35,120 But I don't know this to be the case. But 183 00:09:35,159 --> 00:09:39,399 my suspicion is is that some of those subsidies exist 184 00:09:39,519 --> 00:09:43,600 because we need certain mixes of oils and geographical locations 185 00:09:43,600 --> 00:09:46,360 in this country where the extraction of them is not 186 00:09:46,399 --> 00:09:50,159 commercially viable due to cost. If that is not the case, 187 00:09:50,200 --> 00:09:52,039 then we should get rid of them. But if that 188 00:09:52,200 --> 00:09:55,799 is the case, which I strongly suspect, and as much 189 00:09:55,840 --> 00:09:57,399 as I hate to do that, it really is a 190 00:09:57,480 --> 00:10:03,759 national security situation concern. And like I said, even the crew, 191 00:10:03,879 --> 00:10:05,919 the heavy crew that we get from Canada that's really 192 00:10:05,919 --> 00:10:10,720 good at mixing with our stuff. Even that shouldn't qualify, right, 193 00:10:10,759 --> 00:10:13,960 we need to have total domestic capability, so we're completely 194 00:10:14,159 --> 00:10:17,399 you know, energy independent. And that's just I mean to 195 00:10:17,480 --> 00:10:19,600 say anything to say otherwise it's just being silly. 196 00:10:19,720 --> 00:10:22,080 Speaker 1: No, it is. And then the energy drives everything in 197 00:10:22,120 --> 00:10:25,519 the economy is driven by energy, everything, food, water, movement 198 00:10:25,559 --> 00:10:28,840 of that, movement of people. Secondly, there is this reality 199 00:10:28,840 --> 00:10:31,639 that everybody buys energy. And this is the piece that 200 00:10:31,720 --> 00:10:33,919 John Sort does not seem to get this. When we 201 00:10:34,000 --> 00:10:37,840 take a tiny bit of subsidy three billion dollars that's 202 00:10:37,960 --> 00:10:42,279 rounding air money, right, yeah, in relation to our actual 203 00:10:42,320 --> 00:10:44,440 three hundred trillion dollar debts if you look at the 204 00:10:44,480 --> 00:10:49,039 unfunded liabilities, and it produces a return for us and 205 00:10:49,159 --> 00:10:52,240 means that people Junsart's all concerned about poor people, they 206 00:10:52,240 --> 00:10:57,200 can afford energy because we're diversifying this letting everybody buys energy. 207 00:10:57,279 --> 00:10:59,480 When you buy an apple, you just bought energy. 208 00:11:00,440 --> 00:11:00,639 Speaker 2: Right. 209 00:11:00,679 --> 00:11:02,960 Speaker 3: Here's the other thing that frustrates me a little bit 210 00:11:03,000 --> 00:11:06,399 on this topic. Right, all we could feed poor people. Okay, 211 00:11:06,440 --> 00:11:08,720 I do not say this to be self righteous at all, 212 00:11:09,120 --> 00:11:12,600 but a passion of my wife and a commitment, and honestly, 213 00:11:12,639 --> 00:11:14,600 I think it's a responsibility that I don't really think 214 00:11:14,639 --> 00:11:18,000 we've got much of a choice with that. We try 215 00:11:18,000 --> 00:11:20,320 to spend as much time and money as we can 216 00:11:20,440 --> 00:11:23,480 justify on giving back and helping out charities and helping 217 00:11:23,480 --> 00:11:27,720 out those and all that kind of stuff. It I 218 00:11:27,799 --> 00:11:29,799 will kind of look, again, I don't want to be judgmental, 219 00:11:30,000 --> 00:11:32,360 but when I hear John Stewart say that, I actually 220 00:11:32,360 --> 00:11:34,120 there's a lot of respect about that guy. The way 221 00:11:34,120 --> 00:11:36,480 he stood up for firefighters, you know, from nine to 222 00:11:36,519 --> 00:11:41,519 eleven and things like that, I kind of get the 223 00:11:41,519 --> 00:11:44,399 feeling of, like the Lady doth protests too much, meaning 224 00:11:44,480 --> 00:11:46,759 if you're active and like, one of the things that's 225 00:11:46,799 --> 00:11:49,200 the most frustrating about charity work is that you find 226 00:11:49,240 --> 00:11:53,159 out there isn't a shortage of money and resources, right, 227 00:11:53,399 --> 00:11:57,840 there's a short of a proper incentives, right, and there's 228 00:11:57,960 --> 00:12:01,039 a shortage of people in organizations in it that are 229 00:12:01,080 --> 00:12:03,200 truly altruistic and in it for the right reasons. 230 00:12:03,279 --> 00:12:05,759 Speaker 1: Yeah. Right, And John Poke spoke about property. Let's play 231 00:12:05,799 --> 00:12:08,120 this clip in a second because John Swart spoke about poverty. 232 00:12:08,159 --> 00:12:09,879 Because I want to carry on your thoughts there, because 233 00:12:09,879 --> 00:12:12,759 I've actually been to dinners at least one with you 234 00:12:12,799 --> 00:12:14,519 and your wife at charity dinner. I know this is 235 00:12:14,600 --> 00:12:16,799 very serious for you. It is for me as well. 236 00:12:17,120 --> 00:12:19,600 One thing, one quick message on this. I got a 237 00:12:19,639 --> 00:12:22,679 note from a gentleman about Native Path Antarctic krill, and 238 00:12:22,720 --> 00:12:24,720 he asked me a very very simple question, says Tim 239 00:12:24,759 --> 00:12:28,840 from Dallas. Dear Todd, Is this stuff made in America? 240 00:12:29,440 --> 00:12:29,720 Speaker 3: Okay? 241 00:12:29,799 --> 00:12:32,840 Speaker 1: Great question. This comes from the Antarctic coast, seventy three 242 00:12:32,919 --> 00:12:37,120 miles off the Antarctic coast, and the manufacturing process, all 243 00:12:37,159 --> 00:12:40,039 the delivery, all of that is in America. Okay. Is 244 00:12:40,080 --> 00:12:41,840 it made in America? Is it process here? I'm going 245 00:12:41,879 --> 00:12:44,279 to check on that. I honestly don't know, but I'm 246 00:12:44,279 --> 00:12:46,279 going to check out it. But I know this. It 247 00:12:46,320 --> 00:12:48,799 comes from waters off the Antarctic coast, which should matter 248 00:12:48,840 --> 00:12:51,039 to you. It's the purest, cleanest waters in the world 249 00:12:51,519 --> 00:12:54,600 because there's no no chemical production around there, et cetera. 250 00:12:54,639 --> 00:12:56,840 It's confirmed to me this, and also know this, and 251 00:12:56,879 --> 00:12:59,519 I'll check on if it's actually made in America. Native 252 00:12:59,559 --> 00:13:01,639 Path krill is the only thing I've ever taken that 253 00:13:01,720 --> 00:13:04,240 made it possible for me to get off iyberprofen and 254 00:13:04,440 --> 00:13:06,399 the other day I told you I tweaked my shoulder, 255 00:13:07,080 --> 00:13:09,399 and man, am I freaked out because you know that's 256 00:13:09,399 --> 00:13:10,720 the first left one to the first one I had 257 00:13:10,720 --> 00:13:13,000 surgery in. Someone's made fun of me the other day 258 00:13:13,039 --> 00:13:15,200 another email, or hey, rub some native pathic curll on it. 259 00:13:15,279 --> 00:13:18,679 I'm not rubbing it on it. I tripled down and yep, 260 00:13:18,679 --> 00:13:21,240 this morning my arm was a little crunchy and I 261 00:13:21,279 --> 00:13:23,960 tripled down. I'm looking here now there's no movement, there's 262 00:13:24,000 --> 00:13:27,120 no clicking, there's no anything, and I'm six native path 263 00:13:27,159 --> 00:13:30,120 antartic curls into the day. This stuff is so solid, 264 00:13:30,480 --> 00:13:32,480 So go get it. Go to get curl dot com 265 00:13:32,519 --> 00:13:36,759 slash todd, toss the iberprofin. Boost your metabolism, blush your budflow, 266 00:13:36,960 --> 00:13:38,960 get rid of this swollen feeling in your legs and 267 00:13:39,039 --> 00:13:42,000 joint pain. It's get curll dot com slash todd Zach. 268 00:13:42,080 --> 00:13:44,600 Here's what John Stewart said about poverty. 269 00:13:45,000 --> 00:13:48,679 Speaker 3: I want doze to work. I want better efficiencies. 270 00:13:48,799 --> 00:13:50,639 Speaker 4: I want to get rid of the alphabet agencies that 271 00:13:50,679 --> 00:13:54,279 don't do enough make the pentagon pass an audit. But 272 00:13:54,360 --> 00:13:57,519 we are dozing in the wrong place. If we want 273 00:13:57,519 --> 00:14:01,399 to really change the system. Somebody's like Walmart McDonald's make 274 00:14:01,399 --> 00:14:04,200 billions of dollars in taxpayer subsidized profits, yet many of 275 00:14:04,200 --> 00:14:09,120 their hardworking employees need taxpayer subsidized public assistance. Airlines get 276 00:14:09,159 --> 00:14:12,200 billions in bailouts that they use in stock buybacks and bonuses. 277 00:14:12,320 --> 00:14:14,840 But if you're on food assistance, you're not allowed to 278 00:14:14,840 --> 00:14:18,799 buy hot food with it, because apparently heated andres off 279 00:14:18,840 --> 00:14:19,480 for winners. 280 00:14:20,480 --> 00:14:23,440 Speaker 1: That's a good line, heated andres and for winners. So 281 00:14:23,519 --> 00:14:26,200 he's making this case that apparently in his mind, Walmart 282 00:14:26,279 --> 00:14:29,879 and McDonald's also have tax subsidies. We know airlines got bailouts. 283 00:14:29,879 --> 00:14:33,519 He's all right on that stuff, but this equals now 284 00:14:34,320 --> 00:14:36,759 a way to get out of poverty. He didn't connect 285 00:14:36,799 --> 00:14:40,600 those dots to me very well that somehow someone getting 286 00:14:40,639 --> 00:14:43,159 hot snap meals takes people out of poverty. You are 287 00:14:43,159 --> 00:14:45,759 in the philanthropy business. In this you started to say, 288 00:14:45,759 --> 00:14:47,799 it's not that there's not enough resources, it's that the 289 00:14:47,960 --> 00:14:49,840 incentives are wrong. So what are the incentives? 290 00:14:50,720 --> 00:14:53,919 Speaker 3: Well, so, like, for instance, one of the big misconceptions 291 00:14:53,960 --> 00:14:56,039 that people are starving out there, if people are starving 292 00:14:56,080 --> 00:14:58,639 in this country, or if children are starving in this country. 293 00:14:58,679 --> 00:15:01,840 It's almost a direct correlation to mental illness or drug 294 00:15:01,919 --> 00:15:04,240 use because there's plenty of food available, right, something is 295 00:15:04,279 --> 00:15:07,600 inhibiting their ability to access that good. So my point 296 00:15:07,679 --> 00:15:10,480 in saying that is not that we shouldn't care. Obviously 297 00:15:10,519 --> 00:15:13,759 I care very deeply. My point in saying that is 298 00:15:13,759 --> 00:15:15,919 that you don't have a money problem, right, you have 299 00:15:15,960 --> 00:15:19,000 a plenty of funding is going to that. So the 300 00:15:19,080 --> 00:15:22,840 incentive are The five oh one C three system in 301 00:15:22,879 --> 00:15:25,320 this country is widely abused, and one of the biggest 302 00:15:25,320 --> 00:15:29,320 abusers of that system is what would be we'd refer 303 00:15:29,399 --> 00:15:32,600 to to Christian Church and the way they work the 304 00:15:32,639 --> 00:15:37,679 tax rite offs and the way that they there's there 305 00:15:37,759 --> 00:15:44,919 are it is it is not widely understood how inefficiently 306 00:15:45,080 --> 00:15:47,200 or incompletely that world is governed. 307 00:15:47,360 --> 00:15:49,279 Speaker 1: So I explain this to me in terms of the church. 308 00:15:50,879 --> 00:15:55,440 Speaker 3: So like, for instance, there's there's certain tax benefits that 309 00:15:55,519 --> 00:15:59,360 are granted to people that are ordained ministers under the 310 00:15:59,519 --> 00:16:01,799 under the rell of a five oh one C three 311 00:16:02,440 --> 00:16:05,679 And what you will see these guys do typically, Now 312 00:16:05,720 --> 00:16:08,480 I've got three pastors on staff or three x pastors 313 00:16:08,480 --> 00:16:10,360 on staff, and so they've kind of walked me through this. 314 00:16:11,559 --> 00:16:13,639 What you'll see some of these guys do, especially if 315 00:16:13,679 --> 00:16:17,399 these megachurches, is they will have a very modest income, 316 00:16:17,399 --> 00:16:20,679 but they'll have an enormous house allowance because the house 317 00:16:20,720 --> 00:16:24,080 allowance is not considered income, right, that's it's a tax 318 00:16:24,159 --> 00:16:26,879 right off. So they'll have a house allowance of let's 319 00:16:26,879 --> 00:16:29,960 say twenty grand a month, right, twenty five grand a 320 00:16:29,960 --> 00:16:32,360 month going to their mortgage. That is, they do not 321 00:16:32,440 --> 00:16:35,000 have to pay income taxes on that. So you'll see 322 00:16:35,039 --> 00:16:37,960 these pastors with four to six million dollar homes that 323 00:16:38,039 --> 00:16:40,200 the church is paying at twenty five thousand dollars a 324 00:16:40,200 --> 00:16:44,559 month mortgage on, and that's their housings. So abusive, Yeah, 325 00:16:44,639 --> 00:16:47,360 it is, it is, And so that's it. Are they 326 00:16:47,360 --> 00:16:50,120 the only ones abusing it? Heck no, And I'm not. 327 00:16:50,360 --> 00:16:53,480 I'm not insinuating that, right. I tied to I tied 328 00:16:54,039 --> 00:16:59,080 to Christian churches as well. So, but but again, it's 329 00:16:59,120 --> 00:17:01,120 just one of these things. Is like so many other 330 00:17:01,200 --> 00:17:03,919 parts of the world where once you get involved in it, 331 00:17:04,519 --> 00:17:06,720 you realize that there is not a lack of funding. 332 00:17:06,799 --> 00:17:11,000 This country is choking on bureaucracy and regulation and people 333 00:17:11,039 --> 00:17:16,039 are starving due to it. Yeah, and in a weird way, 334 00:17:16,640 --> 00:17:20,839 that's almost more disconcerting because it's a harder issue to fix, right. 335 00:17:20,880 --> 00:17:22,480 Speaker 1: I think there should be. If we're going to give 336 00:17:23,000 --> 00:17:24,920 charity status, is someone a five O one C three. 337 00:17:25,319 --> 00:17:27,160 How about we do a little dozing here. Let me 338 00:17:27,200 --> 00:17:29,519 give you it. For example, I think charity should do 339 00:17:29,559 --> 00:17:35,240 good things. Okay, so doze them. What's some things you think? 340 00:17:35,440 --> 00:17:35,720 Speaker 3: Okay? 341 00:17:35,799 --> 00:17:38,519 Speaker 1: Let's take, for instance, where now you live in a 342 00:17:38,640 --> 00:17:40,960 far better place. Now I won't disclose where, but it's 343 00:17:41,039 --> 00:17:44,319 it's a far more sane place where you're living versus 344 00:17:44,359 --> 00:17:46,519 where you were. It's still in the separate country, but 345 00:17:46,640 --> 00:17:48,440 I know that area. It's a lot of god fearing, 346 00:17:48,480 --> 00:17:52,119 wonderful people where you're at, but in the separate country 347 00:17:52,160 --> 00:17:55,440 is settled. There are five one C three's who for instance, 348 00:17:56,559 --> 00:18:01,480 you your taxpayer money have underwritten this. They produce, They 349 00:18:01,839 --> 00:18:06,759 provide a place for men to go manually gratify one 350 00:18:06,759 --> 00:18:10,480 another and to watch other men gratify one another manually. 351 00:18:10,920 --> 00:18:14,000 And I would like to see, in terms of your 352 00:18:14,000 --> 00:18:17,119 five O one C three status, what were the material 353 00:18:17,119 --> 00:18:19,720 benefits of this that couldn't be gotten by dude saying 354 00:18:19,720 --> 00:18:21,279 come to my house and I'll do that to you 355 00:18:21,440 --> 00:18:22,400 and watch you do it? 356 00:18:23,720 --> 00:18:26,759 Speaker 3: Yeah, I have you Have you talked about that on 357 00:18:26,799 --> 00:18:28,799 the show. I mean, obviously it's a it's a pretty 358 00:18:28,799 --> 00:18:30,039 loaded subject, but so. 359 00:18:30,000 --> 00:18:34,480 Speaker 1: To speak, yes, I have, and it's it's you said it, 360 00:18:35,720 --> 00:18:38,599 Yes I am. But that came to an arts commission, 361 00:18:39,279 --> 00:18:41,640 and let's expand this to something more accessible. And by 362 00:18:41,640 --> 00:18:43,680 the way, that is disgusting. And by the way, men 363 00:18:43,720 --> 00:18:47,200 will do that for free. Just so everyone's clear and 364 00:18:47,200 --> 00:18:50,200 they don't need substc that. Let's go to the the 365 00:18:50,319 --> 00:18:55,319 handing out of needles, right, show us, show us the 366 00:18:55,319 --> 00:18:58,119 good that if we're going to doze this, show us 367 00:18:58,160 --> 00:19:01,519 how giving people needles amplished the goal of getting people 368 00:19:01,519 --> 00:19:03,119 off drugs, And they'll say, that's not our goal. Harm 369 00:19:03,160 --> 00:19:04,119 reduction is our goal. 370 00:19:04,240 --> 00:19:07,160 Speaker 3: Do you know what I didn't notice? And then I would. 371 00:19:07,240 --> 00:19:10,359 I did an exhaustive review of all a lot of 372 00:19:10,400 --> 00:19:13,200 this stuff, including that thing on a on a different 373 00:19:13,200 --> 00:19:14,640 show that I was getting interviewed. 374 00:19:14,279 --> 00:19:16,920 Speaker 1: On about the mandal thing with the dudes. 375 00:19:17,319 --> 00:19:20,160 Speaker 3: Yeah, so we kind of went through that data, the 376 00:19:20,240 --> 00:19:22,160 dog's work they were doing here in the separate in 377 00:19:22,200 --> 00:19:26,240 the separate country of Washington State. And you know what 378 00:19:26,279 --> 00:19:29,119 I didn't see, Todd, I didn't see a single donation 379 00:19:29,319 --> 00:19:32,880 of any size given to any Christian church organization, not one, 380 00:19:33,279 --> 00:19:37,119 not one now here where where I'm sitting there looking 381 00:19:37,160 --> 00:19:42,000 at is I'm wondering there there have to be some 382 00:19:42,119 --> 00:19:47,720 violations of laws as it pertains to taxpayer funds, meaning 383 00:19:48,880 --> 00:19:52,640 how do you fund that? Right? That is to me, 384 00:19:52,720 --> 00:19:55,359 that's a political organization, or the eight and a half 385 00:19:55,400 --> 00:19:58,039 million dollars that you gave to the Washington State teachers Union? 386 00:19:58,759 --> 00:19:58,960 Speaker 2: Right? 387 00:19:59,440 --> 00:20:02,559 Speaker 3: He why is the state giving money to the teachers union? 388 00:20:02,880 --> 00:20:07,039 They're self funded, right, They're they're paid for by their members. 389 00:20:07,839 --> 00:20:11,200 They also are disproportionate, like to the tune of eighty 390 00:20:11,200 --> 00:20:14,680 five to ninety percent Democratic voters. How is that? Not 391 00:20:17,240 --> 00:20:20,359 is the government giving a set to anybody Republican? Like 392 00:20:20,839 --> 00:20:23,440 the teachers union in Washington State is normal Democratic party? 393 00:20:23,880 --> 00:20:24,720 How is that legal? 394 00:20:25,319 --> 00:20:29,079 Speaker 1: Teachers union nationally is also in art of the Democrat Party. 395 00:20:29,279 --> 00:20:32,279 If we're going to doze things and take John Stuart on, 396 00:20:32,400 --> 00:20:35,240 let's go doge all these nonprofits that these are, these 397 00:20:35,279 --> 00:20:38,559 companies are like unions, get to call themselves nonprofit? You 398 00:20:38,559 --> 00:20:40,759 know what I'd say this, if you're in a nonprofit, 399 00:20:41,480 --> 00:20:42,160 I would. 400 00:20:41,960 --> 00:20:45,599 Speaker 3: Be okay on a cap on the CEO salary one 401 00:20:45,680 --> 00:20:51,160 hundred one hundred percent. How isn't Let's think about this concept, right, 402 00:20:51,400 --> 00:20:54,759 we have a nonprofit where CEO is making three quarters 403 00:20:54,799 --> 00:20:58,319 of million dollars. How is that? What is going on here? 404 00:20:58,519 --> 00:20:59,480 It's a nonprofit? 405 00:20:59,839 --> 00:21:02,759 Speaker 1: Right, that should mean non personal profit that you should have. 406 00:21:02,839 --> 00:21:05,400 Let's say you're a CEO. You should be allowed to 407 00:21:05,440 --> 00:21:07,920 have as a CEO of at nonprofits three times of 408 00:21:08,000 --> 00:21:10,319 prevailing wage of your state. And I know exactly what 409 00:21:10,319 --> 00:21:11,880 people are gonna say, Well, then you'll never get the 410 00:21:11,880 --> 00:21:15,279 best in the brightest CEOs. You have to pay for that. Yeah, 411 00:21:15,480 --> 00:21:18,000 you know you'll get you get the people who will say, 412 00:21:18,039 --> 00:21:20,799 you know what, I could go run a great, big company, 413 00:21:20,839 --> 00:21:23,039 but that's not where my heart is. I want to 414 00:21:23,119 --> 00:21:24,200 run nonprofits. 415 00:21:24,599 --> 00:21:26,160 Speaker 3: And then and then some of them will sit there 416 00:21:26,160 --> 00:21:27,720 and go in on top of that, here's what we're 417 00:21:27,720 --> 00:21:32,240 gonna do. I'm gonna donate that salary right back in right. 418 00:21:32,279 --> 00:21:33,400 Speaker 1: There's plenty of people who do that. 419 00:21:34,000 --> 00:21:35,599 Speaker 3: Yeah, one hundred percent. I mean that's what I would 420 00:21:35,640 --> 00:21:37,640 do if somebody, if somebody, well, first of all, I couldn't. 421 00:21:37,960 --> 00:21:40,480 I couldn't do it right now. But let's say I 422 00:21:40,519 --> 00:21:42,640 was supposed to run a charity organize. I'm not going 423 00:21:42,720 --> 00:21:45,880 to take a salary, right, Like, there's plenty of people. Yeah, yeah, 424 00:21:45,920 --> 00:21:47,200 there's no Yeah, there's no way. 425 00:21:48,240 --> 00:21:50,359 Speaker 1: But yeah, it's just I was just sitting there thinking 426 00:21:50,359 --> 00:21:51,640 about the house I could down if I turned the 427 00:21:51,640 --> 00:21:52,960 Todd Herman Show into a ministry. 428 00:21:53,759 --> 00:21:56,279 Speaker 3: Hey, I'm not kidding her out. I'm not kidding out. 429 00:21:56,480 --> 00:21:58,599 Speaker 1: No, no, no, I'm not gonna do no, No. 430 00:21:59,079 --> 00:22:00,880 Speaker 3: I would never do that. But I mean you sit 431 00:22:00,880 --> 00:22:03,880 there and you're like, this is crazy. That's a crazy loophole. 432 00:22:04,319 --> 00:22:07,559 Speaker 1: Yeah, there's and there's this other loophole that he talked about, Stuart, 433 00:22:07,640 --> 00:22:09,480 and we'll get back that. I do need to touch 434 00:22:09,519 --> 00:22:12,599 on what you said about the churches not getting funding. 435 00:22:12,640 --> 00:22:14,839 There's something you should know about that. And maybe haven't 436 00:22:14,839 --> 00:22:16,119 heard this on my show, but I'll share this with 437 00:22:16,160 --> 00:22:18,680 you in a second. As I'm talking to Zach and 438 00:22:18,839 --> 00:22:21,640 I'm going back through this week of interesting things in 439 00:22:21,640 --> 00:22:24,039 regards to my own health, I really think God tapped 440 00:22:24,039 --> 00:22:27,039 me in the shoulder and said, hey, bud Son, you 441 00:22:27,119 --> 00:22:29,640 are once again screwing your time up in the gym, 442 00:22:30,079 --> 00:22:32,119 and you're once again getting all up in the flesh 443 00:22:32,240 --> 00:22:35,119 and so I'm gonna tweak your shoulder for you, and 444 00:22:35,119 --> 00:22:36,960 I'm it reminds you I can take this away from 445 00:22:37,000 --> 00:22:40,880 you anytime. I'll prune this from you. So get it together. 446 00:22:41,480 --> 00:22:43,559 And when I felt that, I can't tell you how 447 00:22:43,640 --> 00:22:46,440 much comfort I have, and knowing that it's in this 448 00:22:46,960 --> 00:22:49,640 case it's not terrible, it can probably self feel. I 449 00:22:49,640 --> 00:22:53,039 can probably go get a platelet rich bloods infusion PERP. 450 00:22:53,160 --> 00:22:54,880 It's called I can probably get that in the States. 451 00:22:55,240 --> 00:22:58,039 But I can't tell you how good I feel knowing 452 00:22:58,640 --> 00:23:01,519 that if my tendon is frame, I am not going 453 00:23:01,599 --> 00:23:05,160 to get surgery. I know it's not bad enough that 454 00:23:05,519 --> 00:23:07,839 I know I could go down to renew healthcare in Mexico. 455 00:23:08,400 --> 00:23:12,000 I know in five minutes that doctor Chavez, a Harvard 456 00:23:12,039 --> 00:23:16,400 certified surgeon, can put the stem cells right into my shoulder. 457 00:23:16,960 --> 00:23:20,400 I know the process so well. I know that that 458 00:23:20,480 --> 00:23:22,799 can get there and grow that tendon back in maybe 459 00:23:22,799 --> 00:23:24,839 a week if it's fred. How do I know this 460 00:23:25,279 --> 00:23:28,119 Because my friend Boris went from being a world class 461 00:23:28,240 --> 00:23:31,359 master level swimmer, so a guy who could not swim, 462 00:23:32,200 --> 00:23:34,759 and they were able to rescue his shoulder and he 463 00:23:34,799 --> 00:23:37,200 went back swimming in a couple of weeks. So my 464 00:23:37,279 --> 00:23:40,279 condition is so minor. I'm thinking in this audience there 465 00:23:40,279 --> 00:23:43,400 are people who've been through car accidents and their walking 466 00:23:43,440 --> 00:23:45,559 has never been the same, And you just don't want 467 00:23:45,559 --> 00:23:47,920 to have surgery. And you're probably smart because those surgeries 468 00:23:47,960 --> 00:23:50,680 sometimes don't turn out well. Have the comfort I have, 469 00:23:50,799 --> 00:23:52,440 and simply find that if Renew can help you, go 470 00:23:52,519 --> 00:23:56,480 to renew got Healthcare It's r E n ue dot Healthcare, 471 00:23:56,519 --> 00:23:58,160 and tell them you're part of the Todd Herman Show family. 472 00:23:58,200 --> 00:23:59,640 If you guys are going down there, let me know 473 00:24:00,000 --> 00:24:01,599 because I want to go join you. There are and 474 00:24:01,720 --> 00:24:02,839 you E dot Healthcare. 475 00:24:02,720 --> 00:24:06,119 Speaker 3: So little now. I have no affiliation with this company. 476 00:24:06,240 --> 00:24:08,240 I have not been down to Renew. I just did 477 00:24:08,279 --> 00:24:11,039 a portfolio review this morning of a client that came 478 00:24:11,079 --> 00:24:15,079 to us via your podcast. The husband has had long 479 00:24:15,240 --> 00:24:19,119 term arthritis. In his risks, nothing is work worked. They 480 00:24:19,119 --> 00:24:21,680 went down to PV visited those guys a couple months 481 00:24:21,720 --> 00:24:25,279 ago and he said night and day difference in his risks. 482 00:24:25,319 --> 00:24:26,880 Praise God, yep, yep. 483 00:24:26,960 --> 00:24:30,400 Speaker 1: And I know. And Steve, the managing director, told me 484 00:24:30,480 --> 00:24:32,079 about these guys and we're going to try to get 485 00:24:32,160 --> 00:24:34,319 him on the show. And so they're with you too. 486 00:24:35,160 --> 00:24:36,640 Speaker 3: Yes, yes, yes, this. 487 00:24:37,240 --> 00:24:40,640 Speaker 1: Dude, I'm telling you, you've got to come down to 488 00:24:40,720 --> 00:24:43,000 Portavado with me. You've got to go meet these guys 489 00:24:43,039 --> 00:24:45,759 and hang out there, and please bring your wife and 490 00:24:45,799 --> 00:24:47,640 we'll go down my other time. Okay, So we're going 491 00:24:47,720 --> 00:24:48,359 to make that happen. 492 00:24:48,559 --> 00:24:50,359 Speaker 3: We should make it like we should make it like 493 00:24:50,400 --> 00:24:52,640 an event. I can do some shows from down there. 494 00:24:52,799 --> 00:24:55,000 Speaker 1: We did this last year, but we didn't give enough 495 00:24:55,200 --> 00:24:57,279 ourself enough headtime. So we had a bunch of people 496 00:24:57,279 --> 00:24:59,559 who got line to go, but they didn't get their scheatment. 497 00:24:59,640 --> 00:25:02,400 So let's pick a date and let's make that happen. 498 00:25:02,599 --> 00:25:04,920 You and me, we do shows, we answer questions. 499 00:25:06,200 --> 00:25:08,319 Speaker 3: Done, yeah goo, work could be a sponsor. 500 00:25:08,559 --> 00:25:10,720 Speaker 1: Okay, we're in. And then we'll each buy a house 501 00:25:10,720 --> 00:25:12,200 down and there we'll turn it into a ministry. 502 00:25:13,480 --> 00:25:13,880 Speaker 3: Let's do it. 503 00:25:14,440 --> 00:25:16,359 Speaker 1: So let me share this with you. I don't know 504 00:25:16,400 --> 00:25:20,039 if you saw this out of the DOGE homework that 505 00:25:20,079 --> 00:25:22,319 they are the data that they got. Did you know 506 00:25:22,400 --> 00:25:26,599 that there are some almost fifty churches in America that 507 00:25:26,640 --> 00:25:31,079 get one percent of their funding from USAID. And guess 508 00:25:31,880 --> 00:25:37,839 what kind of churches? They are assemblies of God, but 509 00:25:37,920 --> 00:25:40,640 they're the churches who say this is an example of 510 00:25:40,680 --> 00:25:47,240 a sermon. Eve made the best decision for women when 511 00:25:47,279 --> 00:25:49,599 she chose to eat from the tree of the knowledge 512 00:25:49,640 --> 00:25:52,160 of good and evil. It brought her so close to God. 513 00:25:53,279 --> 00:25:57,319 We women after Eve live in the benefit of her 514 00:25:57,400 --> 00:26:01,759 decision for bodily autonomy because it brings us closer to God. 515 00:26:01,960 --> 00:26:04,680 This is I am paraphrasing, but I'm telling you that's 516 00:26:04,720 --> 00:26:08,319 an actual sermon from a USAID funded church getting one 517 00:26:08,400 --> 00:26:13,720 hundred percent of its funding from USAID. How utterly corrupt 518 00:26:13,759 --> 00:26:16,079 is that that we're setting up fake Christian churches and 519 00:26:16,119 --> 00:26:17,960 we accuse the Chinese Commist Party do it? 520 00:26:19,079 --> 00:26:21,079 Speaker 3: Yeah, And I you know, one of the things that 521 00:26:21,119 --> 00:26:23,559 I think of, and this is the college or this 522 00:26:23,640 --> 00:26:26,200 is the football coach you mean coming out, So forgive me. 523 00:26:26,759 --> 00:26:30,359 But I immediately think to myself, like, how do we 524 00:26:30,400 --> 00:26:32,720 get people to be aware of this, because, like I said, 525 00:26:32,799 --> 00:26:36,039 these are non political issues? These are these are how 526 00:26:36,079 --> 00:26:41,319 are these not direct violations of separation of church and state? 527 00:26:41,839 --> 00:26:46,559 Right like right, the same justification they use to basically 528 00:26:46,759 --> 00:26:51,799 atheists our entire culture they're now violating to promote their 529 00:26:51,799 --> 00:26:55,079 own dribble. And it's not even pretending to not be 530 00:26:55,119 --> 00:26:59,680 a religion right right, So by definition, what you are 531 00:26:59,720 --> 00:27:03,720 saying is that whether there's a violation of church and 532 00:27:03,759 --> 00:27:07,319 state is doctrine dependent, which is the violation of church 533 00:27:07,359 --> 00:27:09,640 and state, right, Zach USA. 534 00:27:09,759 --> 00:27:11,359 Speaker 1: The independent Agency. 535 00:27:13,279 --> 00:27:16,440 Speaker 3: Well, as long as they're spending PAXs payer money, they 536 00:27:16,480 --> 00:27:18,640 are not and they should be helped. They should absolutely 537 00:27:18,680 --> 00:27:23,440 be held accountable. And this is so it's people need 538 00:27:23,480 --> 00:27:25,720 to wake up. And where I was going to come 539 00:27:25,720 --> 00:27:28,359 into where the football coach part of it comes. I 540 00:27:28,400 --> 00:27:31,240 think that we all need to look for these opportunities 541 00:27:31,279 --> 00:27:35,519 in our lives to share these kinds of things in 542 00:27:35,559 --> 00:27:38,519 a non political way, in an effort to enlighten people 543 00:27:38,559 --> 00:27:41,599 around us that we think are reasonable people that just 544 00:27:41,640 --> 00:27:45,480 don't know this stuff, because really, you know, you and 545 00:27:45,480 --> 00:27:47,000 I talk about this all the time. These are not 546 00:27:47,119 --> 00:27:50,359 political issues. We're all getting fleeced, we're all getting take 547 00:27:50,400 --> 00:27:52,839 advantage of it. And you can make the argument that 548 00:27:52,920 --> 00:27:55,240 the average voter on the left is getting built harder 549 00:27:55,240 --> 00:27:55,960 than anybody else. 550 00:27:56,880 --> 00:28:01,200 Speaker 1: I agree. I told you so. There's one other thing 551 00:28:01,240 --> 00:28:03,839 I wanted to get and it's related to the stock 552 00:28:03,920 --> 00:28:07,640 that people can't stop talking about. It's Navidia and it 553 00:28:07,680 --> 00:28:09,720 has to do with deep seek and I saw that 554 00:28:09,759 --> 00:28:12,200 you posted this in your Twitter channel. So moving away 555 00:28:12,200 --> 00:28:13,599 a little bit from what we've been talking about in 556 00:28:13,680 --> 00:28:15,440 terms of doge, because we need to touch on this, 557 00:28:15,440 --> 00:28:17,680 because you've told me there's a lot of people who 558 00:28:17,680 --> 00:28:20,079 are going to get mightily, mightily taken on this. We'll 559 00:28:20,079 --> 00:28:23,839 do this is Zach Abraham, quick, quick, quick thing. You 560 00:28:23,960 --> 00:28:26,319 guys have made a decision here that has launched a 561 00:28:26,359 --> 00:28:29,240 company that when we first got started, we were lucky 562 00:28:29,279 --> 00:28:32,119 to be able to employ Allen at Alan Soaps. John 563 00:28:32,559 --> 00:28:34,799 he runs it. It's not a wee thing, it's it's 564 00:28:34,839 --> 00:28:37,839 John running it. But the mission of this company has 565 00:28:37,880 --> 00:28:40,759 so resonated with you guys that now it's Ian who 566 00:28:40,759 --> 00:28:43,720 works there. He's also affected by autism, not in the 567 00:28:43,720 --> 00:28:46,119 same way, or I don't think as dramatically as Alan, 568 00:28:46,200 --> 00:28:49,039 who is nonverbal and he's been through these eighteen operations. 569 00:28:49,119 --> 00:28:52,680 That's not autism, but it's other structure health issues. Amy 570 00:28:52,720 --> 00:28:55,799 works there. Now that's three people from one. Can I 571 00:28:55,839 --> 00:28:58,599 ask you to push them over the top today. I mean, 572 00:28:58,599 --> 00:28:59,960 I know that sounds like a pledge. 573 00:29:00,400 --> 00:29:00,680 Speaker 3: It's not. 574 00:29:00,720 --> 00:29:03,000 Speaker 1: Because the soap is made in America. It's all natural, 575 00:29:03,160 --> 00:29:06,799 it's very very unique fragrances, some of them fragrance free. 576 00:29:07,200 --> 00:29:09,039 In other words, it's better than the soap that the 577 00:29:09,079 --> 00:29:11,079 big companies sell that hate you can. I just ask 578 00:29:11,119 --> 00:29:13,680 you to push them at the top by subscribing. It's 579 00:29:13,680 --> 00:29:16,000 a simple change. That way, you never run out of soap, 580 00:29:16,000 --> 00:29:17,640 because you and I both know you're like, oh my gosh, 581 00:29:17,680 --> 00:29:19,480 we ran out of Allen's. Now I have to go 582 00:29:19,519 --> 00:29:21,559 down to the China mart and buy the China soap. 583 00:29:22,079 --> 00:29:23,519 So can you do that because you don't want the 584 00:29:23,519 --> 00:29:25,240 wu Wine soap because I'm pretty sure most of that 585 00:29:25,240 --> 00:29:27,640 soap is made move in and with bats and such, 586 00:29:27,680 --> 00:29:30,319 and there's probably bat juice in it. I mean there 587 00:29:30,400 --> 00:29:33,480 might be bat blood. And I heard someone told me 588 00:29:33,519 --> 00:29:35,839 once there was so go to Alan Soaps dot com, 589 00:29:35,880 --> 00:29:38,920 Sash Todd avoid the bat juice and bat blood that 590 00:29:39,119 --> 00:29:40,839 might be in that soap, because someone told me once 591 00:29:41,359 --> 00:29:45,640 Alan Soaps no batjuice dot com. So Zach, you posted 592 00:29:45,640 --> 00:29:49,960 this on Twitter. You respond to this guy right the 593 00:29:50,039 --> 00:29:52,640 day Deep Seek R one comes out. That's the Chinese 594 00:29:52,680 --> 00:29:56,519 AI of Chinese Comics party. Bus Ai saw six hundred 595 00:29:56,519 --> 00:29:59,759 billion dollar marker cap shave from Nvidia and US High 596 00:29:59,759 --> 00:30:03,759 Tech stocks lost one trillion combined. I feel a doctor 597 00:30:03,759 --> 00:30:07,200 Evil moment coming on. Was this bad or good? Arguments 598 00:30:07,200 --> 00:30:09,319 for bad? If you were long in Vidia, it was 599 00:30:09,319 --> 00:30:12,079 the biggest market cap loss for any stock in the 600 00:30:12,119 --> 00:30:15,200 history of the United States. Argument for good, the US 601 00:30:15,240 --> 00:30:17,720 band exports of Nvidia H one hundred ships to China, 602 00:30:17,920 --> 00:30:21,119 so Deepseak had to innovate it open source and is 603 00:30:21,240 --> 00:30:23,920 using chips half as powerful as H one hundred was 604 00:30:24,039 --> 00:30:26,440 able was to be able to trade its AI with 605 00:30:26,559 --> 00:30:29,200 ninety seven percent less cost than Google Ultra, So the 606 00:30:29,279 --> 00:30:32,119 cost of AI will get cheaper going forward, if I'm 607 00:30:32,160 --> 00:30:35,960 not mistaken. A guy named Zach Abraham said that this 608 00:30:36,200 --> 00:30:38,119 was bound to happen, that there was going to be 609 00:30:38,119 --> 00:30:40,480 a dramatic entrant at some points, and it was going 610 00:30:40,519 --> 00:30:42,240 to affect the sock price. So are you going to 611 00:30:42,279 --> 00:30:44,680 not point at people out in the viewing of listening 612 00:30:44,720 --> 00:30:47,160 us and say, yo, listen to the zachs. The Zax 613 00:30:47,279 --> 00:30:47,960 is never wrong. 614 00:30:49,559 --> 00:30:49,759 Speaker 2: No. 615 00:30:50,160 --> 00:30:52,319 Speaker 3: What I would ask people to do is use that 616 00:30:52,440 --> 00:30:54,880 to counterbalance against some of the things I've gotten wrong. 617 00:30:55,960 --> 00:31:00,160 Speaker 1: So, uh, dollar cost averaging, prediction cost averaging. 618 00:31:00,519 --> 00:31:03,160 Speaker 3: Yeah, I So, so you know, I think that that 619 00:31:03,279 --> 00:31:05,400 was a good call. But the reason we made that 620 00:31:05,480 --> 00:31:08,000 call was just because you're kind of addressing a reality 621 00:31:08,039 --> 00:31:11,039 of economics, right, meaning when you have a when you 622 00:31:11,039 --> 00:31:14,279 have a price gap that wide between your product and 623 00:31:14,279 --> 00:31:17,440 the next competitor, give the free market time and they're 624 00:31:17,440 --> 00:31:19,720 going to figure out an arbitrage there, right, They're they're 625 00:31:19,720 --> 00:31:22,480 they're usually going to poke a hole. Be in Vidia thing. 626 00:31:23,279 --> 00:31:25,839 The way I would look if people want to know 627 00:31:25,880 --> 00:31:28,000 what's going to happen to day, my suspicion is this. 628 00:31:28,480 --> 00:31:31,240 My suspicion is in video they announce after the close today. 629 00:31:31,640 --> 00:31:35,559 My suspicion is they're going to put up are a 630 00:31:35,640 --> 00:31:39,559 quarter that's probably better than anticipated, but the real that's 631 00:31:39,680 --> 00:31:42,200 not gonna that's not going to determine the trajectory of 632 00:31:42,200 --> 00:31:46,079 the stock. What's going to determine the the trajectory of 633 00:31:46,119 --> 00:31:48,039 the stock is going to be their forward guidance looking 634 00:31:48,079 --> 00:31:50,359 out into twenty six to twenty twenty six and beyond, 635 00:31:51,079 --> 00:31:53,279 and that's where we see an issue. So, for instance, 636 00:31:53,640 --> 00:31:57,319 I talked to some contacts of mine at Microsoft, and 637 00:31:57,319 --> 00:31:59,920 this is not inside information. There was a news release 638 00:32:00,079 --> 00:32:02,319 that came out. The news release was a little what 639 00:32:02,599 --> 00:32:05,279 was more muted than the story I got. But the 640 00:32:05,319 --> 00:32:07,680 story I got was that for whatever reason, and I'm 641 00:32:07,680 --> 00:32:10,279 talking to people that are absolutely in a position to 642 00:32:10,359 --> 00:32:14,319 know that Microsoft is really scaling back their plans spend 643 00:32:14,920 --> 00:32:17,759 on AI data centers in twenty six and twenty seven. 644 00:32:18,039 --> 00:32:22,480 Now remember that's right now, they could potentially ramp those 645 00:32:22,559 --> 00:32:27,039 back up, right, but they're scaling them back. Now. None 646 00:32:27,119 --> 00:32:30,440 of those people knew exactly why that was. Okay, but 647 00:32:30,880 --> 00:32:33,680 when we're looking, I'm just saying, when we're getting that 648 00:32:33,839 --> 00:32:37,680 news from Microsoft, now, remember Microsoft is at the absolute 649 00:32:37,759 --> 00:32:42,519 epicenter of this card owners and chat GPT, right, I 650 00:32:43,079 --> 00:32:46,559 find it really hard to believe that this is not 651 00:32:47,039 --> 00:32:49,400 this does not have something to do with Deep seek 652 00:32:50,359 --> 00:32:54,240 interesting deep seak drops. In three weeks later, this news 653 00:32:54,359 --> 00:32:57,119 is coming out that Microsoft is drastically dialing back their 654 00:32:57,160 --> 00:32:59,319 planned investments for you know what I mean? So now 655 00:32:59,599 --> 00:33:04,920 could they come back online? Yes? Here, here's my big issue. Okay. 656 00:33:05,359 --> 00:33:09,119 People are enthralled within video for what it's done, and 657 00:33:09,240 --> 00:33:11,599 I get it, Okay, But what I am looking at 658 00:33:11,640 --> 00:33:14,039 them and saying, listen, here's the promise I'm gonna make you, 659 00:33:14,759 --> 00:33:18,119 and Vidia ain't doing that again. Okay, Now, am I 660 00:33:18,160 --> 00:33:19,799 going to say that it's gonna plummet. 661 00:33:19,880 --> 00:33:19,960 Speaker 2: No. 662 00:33:21,039 --> 00:33:23,000 Speaker 3: Am I going to say that it can't maintain this 663 00:33:23,079 --> 00:33:25,680 price level. No, I mean it would be It would 664 00:33:25,720 --> 00:33:27,599 be kind of like a first in the history of 665 00:33:27,599 --> 00:33:29,880 investments if it was able to maintain this kind of 666 00:33:29,880 --> 00:33:33,680 price level. But that's not possible. Here's the point everybody 667 00:33:33,720 --> 00:33:37,240 should learn. While we're sitting there watching this company that's 668 00:33:37,240 --> 00:33:39,839 got a three and a half trillion dollar market cap 669 00:33:40,279 --> 00:33:44,160 and trading it thirty times revenue, I'm looking around the 670 00:33:44,200 --> 00:33:48,720 world and seeing a situation where in the history of 671 00:33:48,799 --> 00:33:53,839 financial markets, US markets have never been more overvalued as 672 00:33:53,839 --> 00:33:56,000 it relates to the rest of the world, and that 673 00:33:56,119 --> 00:34:00,319 overvalue has never been concentrated in as few of as 674 00:34:00,400 --> 00:34:03,400 few of stocks. Okay, does that mean those stocks have 675 00:34:03,480 --> 00:34:04,119 to get wrecked? 676 00:34:04,200 --> 00:34:04,279 Speaker 2: No. 677 00:34:04,839 --> 00:34:08,320 Speaker 3: What it does mean to me is, hey, investors here 678 00:34:08,320 --> 00:34:10,639 in the US are trying to figure out whether a 679 00:34:10,679 --> 00:34:13,239 three and a half trillion dollar company trading at sixty 680 00:34:13,280 --> 00:34:17,559 times earnings and thirty times revenue is worth that price. Meanwhile, 681 00:34:17,559 --> 00:34:19,599 I'm looking at companies that are growing at twenty to 682 00:34:19,599 --> 00:34:23,559 thirty percent internationally, that have Christine Fortress balance sheets, that 683 00:34:23,599 --> 00:34:26,679 are trading at one sixth the valuation of the overall 684 00:34:26,719 --> 00:34:31,800 stock market where literally people are just giving money away, okay, 685 00:34:32,199 --> 00:34:35,039 and it is never And so when you look over 686 00:34:35,079 --> 00:34:38,360 the last eighteen years, we have a chart that I 687 00:34:38,400 --> 00:34:40,239 would love to share on the show, and you know 688 00:34:40,239 --> 00:34:41,960 what we'll do to try to remember to do this 689 00:34:42,000 --> 00:34:45,239 next week. Yeah, So you look at the rest of 690 00:34:45,320 --> 00:34:48,599 the world stock market in relation to the SMP five 691 00:34:48,679 --> 00:34:51,760 hundred since the Greek So this week alone, to put 692 00:34:51,760 --> 00:34:55,800 it in perspective, we've got multiple international markets breaking above 693 00:34:55,840 --> 00:34:59,239 their two thousand and seven high for the first time. Okay, 694 00:34:59,719 --> 00:35:02,599 that's that's how uninvested the rest of the world has been. Wow, Okay, 695 00:35:03,039 --> 00:35:05,159 there is so little money in the rest of the 696 00:35:05,159 --> 00:35:07,920 world that there's a lot of stuff that we can't 697 00:35:08,000 --> 00:35:12,039 even get into because it is so thinly traded. We 698 00:35:12,079 --> 00:35:14,800 don't know how we'll ever get out. And that is 699 00:35:14,800 --> 00:35:19,039 a direct repercussion of how little money, all of the 700 00:35:19,079 --> 00:35:21,599 money in the world is sucked into here. And so 701 00:35:21,960 --> 00:35:24,719 you look at this chart for fifteen years where you've 702 00:35:24,800 --> 00:35:28,119 just seen US markets just dominate the rest of the world, 703 00:35:28,280 --> 00:35:30,960 and there's this clear fifteen year trend line. Well, guess 704 00:35:30,960 --> 00:35:34,400 what's happened in the last two months Right above the 705 00:35:34,440 --> 00:35:37,679 trend line, and so we're sitting there going, guys, I 706 00:35:37,719 --> 00:35:41,079 think the turn is here, regardless of whether the turn 707 00:35:41,159 --> 00:35:44,199 is here or not. What I will also say, and 708 00:35:44,719 --> 00:35:47,559 this has been backed up by several other smart investors 709 00:35:47,559 --> 00:35:50,199 that have better track records than I do, is that 710 00:35:50,639 --> 00:35:52,960 on a vat I don't care what happens over the 711 00:35:52,960 --> 00:35:57,239 next one or two years. Valuations right now are insane 712 00:35:57,760 --> 00:36:02,119 in terms of what you can get elsewhere. And uh yeah, 713 00:36:02,440 --> 00:36:05,440 it's it's That's my big lesson to investors. And look, 714 00:36:05,480 --> 00:36:07,920 I in Video is a great company that makes great product. 715 00:36:08,400 --> 00:36:11,920 Investing in this stuff is too this this Well, you 716 00:36:11,960 --> 00:36:13,920 look at Apple right now. Apple could get smacked by 717 00:36:13,960 --> 00:36:17,480 fifty percent and still be on the expensive side at 718 00:36:17,480 --> 00:36:21,239 its own standards. Costco is trading it three times the 719 00:36:21,320 --> 00:36:26,159 valuation of Google. Okay, you can't make this stuff up. 720 00:36:26,519 --> 00:36:29,320 I'm not saying they're bad companies. They're incredible companies. But 721 00:36:29,360 --> 00:36:31,239 there's a lot of these things are trading at prices 722 00:36:31,239 --> 00:36:33,719 that make no sense. Meanwhile, I look around the world 723 00:36:33,800 --> 00:36:36,320 and find companies that are traded that are growing three 724 00:36:36,360 --> 00:36:39,280 times as fast and creating it like one seventh the 725 00:36:39,360 --> 00:36:43,599 multiple it's it got it I've never been more excited 726 00:36:43,599 --> 00:36:44,239 about that stuff. 727 00:36:44,440 --> 00:36:46,039 Speaker 1: I love it. And just as we were wrapping up 728 00:36:46,079 --> 00:36:47,679 the show, getting ready to send you on your way, 729 00:36:47,719 --> 00:36:49,360 I know you've a busy day. I just found this. 730 00:36:49,360 --> 00:36:53,000 This just came up, Ozzie seven. Jim Kramer, you should 731 00:36:53,000 --> 00:36:55,000 own bitcoin. Bitcoin is a great thing to have in 732 00:36:55,039 --> 00:37:01,639 your portfolio. Amazing inverse Kramer, there is this stuff. 733 00:37:01,679 --> 00:37:05,239 Speaker 3: He's good, He's consistent off nothing else man. 734 00:37:05,079 --> 00:37:07,199 Speaker 1: And if he's back and shortened himself, what if he's 735 00:37:07,159 --> 00:37:08,199 shorten his own predictions. 736 00:37:08,960 --> 00:37:13,039 Speaker 3: He's not. He's too proud. He's he believed that. And 737 00:37:13,360 --> 00:37:15,199 the other one he's been out there pumping lately is 738 00:37:15,239 --> 00:37:18,559 Costco saying you got to own Costco. Costco. I love 739 00:37:18,679 --> 00:37:21,639 Costco and it's not their fault. Their stocks irrationally priced. 740 00:37:21,880 --> 00:37:24,599 Costco is more expensive today than it has ever been 741 00:37:24,639 --> 00:37:26,800 in the history of the company, including back when it 742 00:37:26,840 --> 00:37:28,119 was growing at fifty percent a year. 743 00:37:28,719 --> 00:37:31,320 Speaker 1: Insane. Thank you for coming on, my brother. We are 744 00:37:32,039 --> 00:37:34,559 a go. We're just going to nail the dates part 745 00:37:34,599 --> 00:37:38,320 of art to Mexico. You me, maybe we can finally 746 00:37:38,320 --> 00:37:40,079 get Crukshank to come down to some of the other 747 00:37:40,079 --> 00:37:43,360 people that knows from the show and we'll spend some time. 748 00:37:43,400 --> 00:37:45,280 We're just gonna nail the date. God bless you and yours. 749 00:37:45,360 --> 00:37:48,000 Zach appreciate you coming on Wise counsel Day. Thank you. 750 00:37:48,800 --> 00:37:51,119 Thanks as always, this is a Todd Herman show. Please 751 00:37:51,159 --> 00:37:54,119 go out and be well, be strong, be kind, and 752 00:37:54,440 --> 00:37:57,239 Sti't make the effort. I mean that's weak. Just walk 753 00:37:57,280 --> 00:38:02,239 in the Latter Christ.