Speaker 1: Your summer pocket knife of information. It's the only way
Speaker 1: to stay in for him. Fifty five ARC the talk
Speaker 1: station at five the fifty five k RCD talk station.
Speaker 1: It's Monday, regular listeners, No, it's that time of week
Speaker 1: we talk money with all Worth Financials. Brian James, Welcome back,
Speaker 1: my friend. It's always pleasure to have you on. Thanks
Speaker 1: to Aalworth for loaning out every Monday at this time.
Speaker 2: Good morning, mister Thomas, hope you had another good weekend.
Speaker 1: Fantastic weekend and a special shout out to my friends
Speaker 1: in Westchester where the Hoodie memorial. Corey Hood died in
Speaker 1: a tragic parachuting incident. He was a Golden Knight and
Speaker 1: he was a huge, huge supporter of Westchester and Lakota
Speaker 1: High School everywhere he went around the world as a
Speaker 1: Golden Knight, he promoted the community and his love for
Speaker 1: the community. And so they've honored his memory, and this
Speaker 1: is the tenth year for the fundraiser. They've established some
Speaker 1: scholarships in his name, and they had me out every
Speaker 1: year to speak a few words and kind of facilitate it.
Speaker 1: And it was just a glorious, glorious of it. It
Speaker 1: always is one of those things that reminds you that
Speaker 1: there's so much good going on in the world in
Speaker 1: spite of the fact that we deal with a bunch
Speaker 1: of crap each and every day in the news.
Speaker 2: Yeah, that's my neck of the ones.
Speaker 3: And yeah, it is wonderful that that that story has
Speaker 3: gotten out there, and it seems to be growing every
Speaker 3: single year.
Speaker 4: You know.
Speaker 3: The silver lining of it is, well, now his story
Speaker 3: is out there, the kind of person he was and
Speaker 3: what he stood for.
Speaker 1: Oh yeah, yeah, and the fact that he's I mean,
Speaker 1: these are twenty two five hundred dollars scholarships that they
Speaker 1: now they've got the scholarship fully funded. They've been so
Speaker 1: successful with the fundraising efforts they don't have to add
Speaker 1: another dime to that. The return on investment will cover
Speaker 1: the annual scholarship. So they have two other scholarships that
Speaker 1: they're working to get to that point. But great people
Speaker 1: out there. They're just so fun and welcoming, and again
Speaker 1: is one of those I really needed this event kind
Speaker 1: of moment is the way I feel every year about it.
Speaker 1: It's like, because here I am surrounded by bad news
Speaker 1: and you know, division and intolerance and beat downs, and
Speaker 1: you show up and something like that. You know what,
Speaker 1: the world is still sane. The world is still a
Speaker 1: great place.
Speaker 3: There are people out there who aren't in conflict and
Speaker 3: arguing with each other at all times.
Speaker 1: That's what I get out of the event. So that'll
Speaker 1: carry me now for a month or maybe two, and
Speaker 1: then I'll be back to filling blue and misery.
Speaker 2: You mean, like for the next ten to fifteen minutes.
Speaker 1: Yes, yeah, all right, let's pivot over. Donald Trump has
Speaker 1: been having a real problem with each FED chair Jerome Powell.
Speaker 1: He's been screaming and clamoring for Powell to lower the
Speaker 1: interest right, and of course the most recent meeting of
Speaker 1: the Federal Open Mouth Committee is ed. Think you used
Speaker 1: to call it, held the rates at where they are,
Speaker 1: which is what four point five percent? So no lowering
Speaker 1: of the rates and what the last five times they met,
Speaker 1: they've kept it the same.
Speaker 3: Yeah, that's pretty much right. We're the FED does not
Speaker 3: move quickly. We don't want to spook anything. You don't
Speaker 3: want to spook the herd. That's always been the way
Speaker 3: the FED has thought. And so they stepped lightly. Like
Speaker 3: we've talked about a couple times in these airwaves. The
Speaker 3: you know, the President apparently has established the ability to
Speaker 3: change his mind on a dime. Today, we're putting tariffs
Speaker 3: against a certain country at a certain percentage. Tomorrow, Yeah,
Speaker 3: we're gonna hold off on that. Federal Reserve chairs do
Speaker 3: not have that luxury. They cannot spook the market like that.
Speaker 3: That's going to cause more problems than it solves. So
Speaker 3: they're not moving fast enough anyway, although I don't believe
Speaker 3: any FED chair will be able to move fast enough
Speaker 3: to keep President Trump happy.
Speaker 2: But in this case, there's also behind this. There's just
Speaker 2: a difference in philosophy.
Speaker 3: Trump feels an interest rates should have been on the
Speaker 3: you know, months, if not years ago, and fedshair Pale
Speaker 3: is feeling a little differently about that in terms of
Speaker 3: his face is on this. So he has to be
Speaker 3: the one making the right decisions.
Speaker 1: Well, it's not his unilateral decision. It is made up
Speaker 1: of a board of governors. I think. What there are
Speaker 1: seven members that make up the Federal Board, and don't
Speaker 1: they all sort of say and is it a majority
Speaker 1: opinion on whether to raise or lower rates? Yes, it is, so.
Speaker 3: Yeah, there's a board of governors out there, and two
Speaker 3: of them recently came out last week and said that
Speaker 3: they felt like it's time to start lower interest rates.
Speaker 3: And that's not too shocking either, because you know that
Speaker 3: the numbers are starting to come out. We're going to
Speaker 3: talk about that a little bit themselves, of course, but
Speaker 3: they are starting to come out in favor of what
Speaker 3: ter Powell. Chair Powell wants to act on more evidence
Speaker 3: in general, so he's a little bit slower than some
Speaker 3: have been in the past, but those numbers are coming out.
Speaker 3: It's looking more and more like we're going to see
Speaker 3: a rad cut here in September. So we may we
Speaker 3: looks like we may very well get what the president
Speaker 3: is is it has been asking for in what some
Speaker 3: of the political population believe as well.
Speaker 2: It's just not happening fast enough to keep everybody happy.
Speaker 1: But they can only raise or lower rates at these
Speaker 1: Federal Open Market Committees meetings, and they only have those.
Speaker 3: How often once a month, so once a month, so
Speaker 3: and they yeah, they can't really go off psyche. Well
Speaker 3: that's not chilly, So they've done it in the past,
Speaker 3: but both real references not to uh, the preference is
Speaker 3: not to do that because again, it just tends to
Speaker 3: rattle things too much.
Speaker 1: Well, like Trump's tariffs. You know, if if they're on
Speaker 1: one day and off the next, you can't adjust for that.
Speaker 1: But at least I suppose knowing that one month from
Speaker 1: the last meeting, you're going to get another meeting where
Speaker 1: the option is there could be the lower rates or
Speaker 1: raised and we're keeping the same there's only, like I guess,
Speaker 1: one month worth of stability. So it's really not that much.
Speaker 3: Yeah, in what we're trying to do with these kinds
Speaker 3: of things, remember what businesses have to make decisions. You know,
Speaker 3: there's a business out there that wants to build a
Speaker 3: factory or something like that and create jobs. And I'm
Speaker 3: sort of making this up as hypothetical example, but somebody
Speaker 3: out there is sitting in a conference room right now
Speaker 3: trying to decide do we execute this loan with this
Speaker 3: bank right now or do we wait six weeks in
Speaker 3: this end of September and see what the Federal Reserve
Speaker 3: is going to do because we could get a better
Speaker 3: interest rate out of the deal. So you know, there
Speaker 3: are this is something there has to be some predictability
Speaker 3: to it, where if I'm trying to make a decision
Speaker 3: that's going to employ hundreds of thousands of people, you know,
Speaker 3: build build some factories, as the President is wanting here, Well,
Speaker 3: then I need to know what my bank financing terms
Speaker 3: are going to be.
Speaker 2: And a lot of that comes right out of the Fed.
Speaker 3: So I need to be able to understand what they're
Speaker 3: going to do and the timing of when they're going
Speaker 3: to do it, not this afternoon is different from tomorrow morning.
Speaker 1: Well, we've had this conversation with the subject of mortgages.
Speaker 1: It's a kind of a cosmic crabshoot are they going
Speaker 1: to go up or are they going to go down?
Speaker 1: And you know, when we bought our first home, there
Speaker 1: was really big question mark as with the direction they
Speaker 1: were going to go. So lock it in, but recognize
Speaker 1: you could always refinance at some point in the future.
Speaker 1: I mean businesses can do that. I suppose the interest
Speaker 1: rate is really more about the federal government and the
Speaker 1: interest they pay on the T bills.
Speaker 2: Yes, absolutely so.
Speaker 3: Yeah, So interest rates are manipulated two ways, directly from
Speaker 3: the Federal from the Fed, and whatever the market wants
Speaker 3: to do. The market has its own opinions and it
Speaker 3: will drive bonds up and down, and that has an
Speaker 3: effect on interest rates itself. So both of those two
Speaker 3: things result in what a might a company might sign
Speaker 3: off on, or an individual on a mortgage. Both of
Speaker 3: those impact exactly what those numbers are that appear on
Speaker 3: that contract.
Speaker 1: All right, Since I know we're gonna be talk about
Speaker 1: viuera labor statistics and the Donald Trump's rather his reaction
Speaker 1: to the statistics that we're handed out. What are the
Speaker 1: various statistics just generally speaking, that the FED looks at
Speaker 1: in making a determination. Obviously labor rates are one of them,
Speaker 1: but what are the others? So the FED is look
Speaker 1: get CPI. The FED has a dual mandate.
Speaker 3: Their job is to keep employment at full employment, which
Speaker 3: is never one hundred percent.
Speaker 2: That makes no sense when we have one hundred percent
Speaker 2: employment or near it.
Speaker 3: That's when you see companies like McDonald's offering signing bonuses
Speaker 3: because they can simply can't find workers. So full employment
Speaker 3: is more like ninety five percent employment. And they want
Speaker 3: to keep prices under control. That is their primary role.
Speaker 3: There's a million statistics and reports and all kinds of
Speaker 3: things that they look at, but it basically has to
Speaker 3: do with employment and CPI. Those are the two things.
Speaker 3: If we keep those under control, keep those where we
Speaker 3: want them. We want employment around ninety five percent ish
Speaker 3: and we want inflation around two to two and a
Speaker 3: quarter something like that. We're a little bit higher than
Speaker 3: that now, but we are well off our nine percent
Speaker 3: crazy highs from a few summers ago.
Speaker 2: So we're definitely training in the right direction.
Speaker 3: We just haven't actually ticked the box that would give
Speaker 3: a green light to Jerome Pale in his own thinking.
Speaker 1: Well, and going back to the Board of Governors, I
Speaker 1: understand Governor Adrianna Kugler stepped down early. It was reported.
Speaker 1: I thought I recalled reading and correct me if I'm wrong, Brian,
Speaker 1: it's we have you here for She was angry that
Speaker 1: they didn't lower the rate, so she stepped down off
Speaker 1: the Board of Governors. Have I got the background on
Speaker 1: that one, right? Yeah? There was.
Speaker 2: So she announced in August.
Speaker 3: Just the other day that she was going to step down,
Speaker 3: but she was supposed to be around till January thirty. First,
Speaker 3: she didn't really give a clear reason in her letter,
Speaker 3: her resignation letter, but she did state her she does
Speaker 3: want to go back to academia and all those kinds
Speaker 3: of things. This is coming alongside that, you can kind
Speaker 3: of conclude that perhaps she didn't want to deal with
Speaker 3: the pressure that's going on between the President and Jerome Powell.
Speaker 3: She didn't even go to the meeting most recently. So,
Speaker 3: you know, all of this is speculation. It's not fair
Speaker 3: to guess what's in somebody's head, but you know you can.
Speaker 3: I think you can kind of infer from the lack
Speaker 3: of information that she shared about her decision that whatever
Speaker 3: it was probably would have caused more conflict and she
Speaker 3: was trying to avoid that too.
Speaker 1: Well, it's just the border of governors are nominated by
Speaker 1: the President, confirmed by the Senate. I can only imagine
Speaker 1: Donald Trump will get a an interest rate cut hawk
Speaker 1: in the you for this. How quickly can this turn
Speaker 1: around before the next vote.
Speaker 3: That's something I'm not sure to be able to be
Speaker 3: quite honest on that. Yeah, I'm not going to claim
Speaker 3: to be a civics expert. However, yes, I would say
Speaker 3: that President Trump definitely has and he's not the only one.
Speaker 3: Lots of presidents, of course want people to align with
Speaker 3: their thinking. He's just been the loudest about it. So yeah,
Speaker 3: I would be fairly confidence saying whoever gets nominated is
Speaker 3: going to be pretty well in support of Donald Trump's
Speaker 3: different perspective now. At the same time, remember he put
Speaker 3: Jerome Palell in this position too, so we'll see if
Speaker 3: it lasts throughout this person's term.
Speaker 1: I'm glad you made that point because I had forgotten. Yeah,
Speaker 1: this is a product of his own making in many respects.
Speaker 1: But you can't read the future. You have no idea
Speaker 1: if you're going to come to blows with your appointees.
Speaker 1: Down the road more with Brian James from all Worth Financial,
Speaker 1: we're going to talk about labor statistics, something else that's
Speaker 1: kind of the skin of Donald Trump, and job loss.
Speaker 1: A job loss is a consequence of it. First, though,
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Speaker 1: Cincinnata KRCD Talk station. By the time of week, we
Speaker 1: talked money and it's money money with Brian James, and
Speaker 1: speaking of money matters, Brian completely unrelated to the labor
Speaker 1: stats that we're going to talk about here in a moment. Obviously,
Speaker 1: everyone in the community, across the entire country included, is
Speaker 1: talking about that beat down that Saturday and the woman
Speaker 1: Holly who got punched in the face. Somebody sent me
Speaker 1: a link to the gives Send Go campaign, which is
Speaker 1: where you can contribute to help her deal with her
Speaker 1: medical issues and everything. Three hundred and forty thousand, nine
Speaker 1: hundred dollars has been raised so far the last several days.
Speaker 1: That is absolutely amazing.
Speaker 3: Yeah, I think that was a huge attention to get
Speaker 3: her for our for our city here, and I think
Speaker 3: we'll get through it like we've gotten passed everything through
Speaker 3: everything in the past.
Speaker 2: You know, it's never smooth.
Speaker 3: But at the same time, yeah, I think this one
Speaker 3: is there's some obvious changes that are pretty much screaming
Speaker 3: out there, and I would say, have three hundred and
Speaker 3: forty thousand votes that would agree with.
Speaker 1: Me, there you go. And these are all pretty small contributions.
Speaker 1: Ten bucks here, fifteen bucks there. It's like every little
Speaker 1: bit counts much in the same way every little bit
Speaker 1: you put towards your retirement counts. You're going to get
Speaker 1: a compounding interest and return on that, so it's the
Speaker 1: right thing to do. Start planning for your future. They're
Speaker 1: a little plug for getting a financial plan. Excellent segue there, miss,
Speaker 1: I thought you might like that, all right, Moving back
Speaker 1: to one of the statistics that the FED does calculate
Speaker 1: and determined or look at into determining whether or not
Speaker 1: to raise or lower maintain interest rates where they are
Speaker 1: labor statistics. I understand Donald Trump fired the label Labor
Speaker 1: Statistics Commissioner because he wasn't happy over what he described
Speaker 1: as the biggest miscalculation in over fifty years. What's the
Speaker 1: story on this one, Brian, Well, yes, we all know.
Speaker 2: When you don't like the news, what do you do?
Speaker 3: You shoot the messenger because obviously that's the solution to
Speaker 3: these types of things. So anyway, yeah, so, as President
Speaker 3: Trump just did something no modern president has ever done.
Speaker 3: Nobody has ever fired the Bureau of Labor Statistics head
Speaker 3: right after a report comes out.
Speaker 2: You know, I'm not in love with this.
Speaker 3: I'm okay with some of the things we've done to
Speaker 3: you know, to change our standing and you know, for example,
Speaker 3: force other countries to pay their fair share for NATO
Speaker 3: support and even up on tariffs all that stuff. I've
Speaker 3: been feeling like overdue moves, but stuff like this to me,
Speaker 3: just completely undermines his legacy. He's reacting to the July
Speaker 3: report showed only seventy three thousand new jobs. That was
Speaker 3: far below expectations. But the bigger point, Remember the Bureau
Speaker 3: of Labor Statistics. What they do is they gather surveys.
Speaker 3: They literally ask companies how many people did you hire
Speaker 3: this month? And companies will respond, And of course, just
Speaker 3: like any other survey you get via email, sometimes you
Speaker 3: respond right away, usually you don't, but anyway, it takes
Speaker 3: a long time. Over the over the ensuing three months
Speaker 3: of sending that out, they will continue to receive responses.
Speaker 1: To this survey.
Speaker 3: Yep, that's where those revisions come from. It's not the
Speaker 3: Bureau of Labor Statistics screwing things up. It's companies just
Speaker 3: not responding in a timely manner to government surveys, which
Speaker 3: you know you can't do that anyway. But the news
Speaker 3: here as the revision was downward by over a quarter
Speaker 3: million jobs. That is a really really big miss. And
Speaker 3: rather than deal with the headlines of possible slowing economy,
Speaker 3: President Trump just decided that that I was wrong.
Speaker 1: Well, and let me get this straight. If they came
Speaker 1: out with a number that was accurate, Let's say, you know,
Speaker 1: there's a you know, a gazillion jobs out there and
Speaker 1: the unemployment rate went down, that would result in the
Speaker 1: Fed not wanting to lower interest rates. Right, So didn't
Speaker 1: her initial number sort of bolster the argument for lowering
Speaker 1: interest rates or if I if I might confuse.
Speaker 3: On this, Brian, No, And that's the slightly frustrating part,
Speaker 3: Like we were talking about earlier this morning. You know,
Speaker 3: the FED chair pal definitely wants He's had a history
Speaker 3: and most of the FED chairs have a history of
Speaker 3: wanting to rely on data and not gut feel when
Speaker 3: it comes to making these huge interest rates decisions. So yes,
Speaker 3: the the the actual numbers that were coming out, even
Speaker 3: these revisions are speaking toward Yeah, it's probably time to
Speaker 3: lower interest rates because the economy is definitely slowing and whoops,
Speaker 3: it may be slowing a little faster. Were stomping on
Speaker 3: the brain a little fashion that we wanted to. That
Speaker 3: is a recipe for Yep, it's time to lower interest rates.
Speaker 3: And that's why I feel pretty confident that September is
Speaker 3: going to involve a rate cut.
Speaker 2: But it also speaks to I think it's the it's
Speaker 2: the trajectory.
Speaker 3: It's how quickly those revisions came down That angered the
Speaker 3: president because it makes it feel like the economy is
Speaker 3: going over a cliff as opposed to just slowing down.
Speaker 1: Well, and that's bad for politics. Goodness great, that is
Speaker 1: bad visibility, bad optics. First, great, job numbers would result
Speaker 1: are good for your politics. See my plot, my plan,
Speaker 1: my economic policy. Everything's working. Look at the numbers. But
Speaker 1: then you start screaming about lowering interest rates. That flies
Speaker 1: in the face of the success you're having and the
Speaker 1: opportunity for interest for inflation.
Speaker 3: So yeah, this president is not very tolerant of really
Speaker 3: any negative headlines at all. So fortunately the market seems
Speaker 3: to see through at the The market came down a
Speaker 3: little bit on Friday, and as we're sitting here right now,
Speaker 3: futures are up about a half point or so.
Speaker 2: So the market does tend to see through this, but.
Speaker 3: It won't tolerate it very long. The market absolutely hates
Speaker 3: the overall stock market is wonderful at sniffing out baloney,
Speaker 3: and it will come through there. If we're really trying
Speaker 3: to tout that the economy is wonderful, but we're hemorrhaging
Speaker 3: jobs left and right.
Speaker 2: You will see it in the stock market a right.
Speaker 1: But the late Burea Labor Statistics Commissioner Eric Macintarfer's calculations
Speaker 1: which resulted in her firing. It's regularly, I mean you
Speaker 1: said it. It's want to sort of emphasize it. It's
Speaker 1: normal for them to provide revised figures, maybe a little
Speaker 1: bit after, maybe a long after, but they always look
Speaker 1: back and correct the record based upon the actual evidence
Speaker 1: when it finally comes in. So this is not unusual, No.
Speaker 2: Not at all.
Speaker 3: And in fact, I went back to the past couple
Speaker 3: of presidents. So the Trump's first administration for twenty seventeen
Speaker 3: to twenty twenty, the average revision was an average increase
Speaker 3: of seventy three thousand jobs. That sounds like a big
Speaker 3: number on an absolute terms, but it's relatively small when
Speaker 3: you're talking about three hundred million people in this country.
Speaker 1: Right.
Speaker 3: But when during those revisions at that time, generally speaking,
Speaker 3: the bias was up. Those revisions usually or positive. Under
Speaker 3: Biden from twenty one to twenty four, the more recent
Speaker 3: ones about one hundred thousand jobs on average, and usually
Speaker 3: they were in a more downward direction, and Obama was
Speaker 3: kind of somewhere in the middle.
Speaker 2: But anyway, the point is not the numbers.
Speaker 3: The point is that these revisions have happened, and do happen,
Speaker 3: and always will happen. The head of the BLS gets
Speaker 3: two days to do whatever he or she is going
Speaker 3: to do with the data. They don't get to audit it,
Speaker 3: and all that has to come out as basically as
Speaker 3: soon as it as soon as it appears, so there's
Speaker 3: not much chance that she would have had to manipulate it.
Speaker 3: I'm gonna go ahead and throw out there that there's
Speaker 3: a zero chance that Trump gave any time to look
Speaker 3: for the data, to look for any evidence that this
Speaker 3: is an accurate assertion of his that the data is wrong.
Speaker 2: He simply didn't like the numbers.
Speaker 1: Fair enough, Brian James. One more and this, I think
Speaker 1: this is a rhetorical question. Should high schoolers have to
Speaker 1: take a personal finance course? I'm all in for that.
Speaker 3: Yeah, we said segment Brian, it's been a good morning.
Speaker 3: We're just gonna call that a guess.
Speaker 1: Well, fuss one more with money Monday's Bride James. After
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Speaker 1: What more with anybody? Is Brian James and in a
Speaker 1: very very important topic, and I'm surprised that schools are
Speaker 1: not already required to require high schoolers to take a
Speaker 1: personal finance course. In a basic budget management for the home,
Speaker 1: you know, small scale microeconomics. You learn how to balance
Speaker 1: your checkbook otherwise not spend more money than you take in.
Speaker 1: You have an appreciation not over spending. And then by
Speaker 1: learning that knowledge, you can then criticize government and its
Speaker 1: runaway spending and it's deficit spending and appreciate that I
Speaker 1: can't run my home that way? How is it that
Speaker 1: politicians can run our government that way? Turning everybody into
Speaker 1: a fiscal conservative? Brian James, this is Is there any
Speaker 1: opposition to this concept of requiring the some just a
Speaker 1: semester of a basic home economics kind of thing for finance.
Speaker 2: I don't think anybody stands in the way of it.
Speaker 2: I think it's the opposite.
Speaker 3: I think there's a lot of people who aren't in
Speaker 3: power and don't make thesecisians who would really really like
Speaker 3: to see it out there. I saw a meme floating around.
Speaker 3: I've seen it like five times. Maybe you run across
Speaker 3: it too. Where As the guy says me, how do
Speaker 3: I balance my checkbook? Public school shut up in square dance,
Speaker 3: and that brings me perfect memories. I remember square dancing
Speaker 3: and wondering why I was square dancing, you know, back
Speaker 3: in the day. But yeah, so remember we don't have
Speaker 3: a Department of Education anymore, so there's no there isn't
Speaker 3: a federal mandate, nor will there be a federal mandate.
Speaker 3: But there are a lot of states out there who
Speaker 3: are doing this, So this is not a you know,
Speaker 3: the article we stumbled across with the Colorado's you know,
Speaker 3: is putting something in place.
Speaker 2: They are the twenty eighth state.
Speaker 3: So there's more than half the country, half the states
Speaker 3: in the country out there that do have some kind
Speaker 3: of requirements for financial literacy around budgeting, saving, how do
Speaker 3: you deal with credit and debt, leasing versus buying all
Speaker 3: those kinds of things. And I do know some of
Speaker 3: the schools that I've had direct experience with through my
Speaker 3: own family actually do have some pretty strong programs in place.
Speaker 3: So despite the headlines, I think there's more financial education
Speaker 3: out there that is happening. It's just kind of hitting
Speaker 3: the headlines a little more as more and more states
Speaker 3: get on on board. But there never will be a
Speaker 3: federal mandate on this because we just dismantled the entire
Speaker 3: Department of Education, so we will not have a voice
Speaker 3: from the federal.
Speaker 1: L I'd like to read the Constitution for what it says,
Speaker 1: and there's no Dick Todd in the federal Constitution that
Speaker 1: says it's supposed to tell us locally here in whatever
Speaker 1: school board what we are supposed to teach. That's a
Speaker 1: local issue and it's a state driven issue.
Speaker 2: But square dancing is federally managed.
Speaker 1: There you go. You know why, because people take federal
Speaker 1: dollars in federal government always put strings attached on those dollars.
Speaker 1: So it doesn't bother me that the federal government isn't
Speaker 1: mandating something. But this is clearly bipartisan in terms of
Speaker 1: how much sense it makes.
Speaker 3: It is yet really nobody can argue against this, and
Speaker 3: Ohio has something in place too, So we've got a
Speaker 3: situation here in this state where we've already made these decisions.
Speaker 3: So Ohio does require that this goes from July first
Speaker 3: twenty two is when it started. But all public the
Speaker 3: students who are in grade nine and beyond have to
Speaker 3: earn a half a credit in financial literacy can be
Speaker 3: an elective or a math credit or whatever, but it
Speaker 3: can't be part of their social studies. Graduation requirements to
Speaker 3: be part of the of the finance and that represents
Speaker 3: about sixty hours of instruction under law. So we do
Speaker 3: have some rules and standards and there I have seen
Speaker 3: some of the things that are coming out of the schools,
Speaker 3: and I'm actually from my perch here as a financial advisor.
Speaker 2: I like what they're talking about.
Speaker 3: Could I anticipated it'll change conversations I had with young
Speaker 3: people in the next ten years.
Speaker 1: Oh, that's wonderful news. Now it kind of bothers me.
Speaker 1: This article of California Colorado Education Association, and this goes
Speaker 1: back to your square dancing. If you have time to
Speaker 1: teach square dancing, and question mark why you would allocate
Speaker 1: scarce time in the school teaching square dancing and not
Speaker 1: like reading, writing, and arithmetic. Colorado Education Association had concerns
Speaker 1: that this requirement would increase workload for teachers and staff.
Speaker 1: Oh boo hoo, Well, just take away the DEI training
Speaker 1: and workload and your training and social issues and focus
Speaker 1: on something that's valuable to every single student in the classroom.
Speaker 3: Yeah, and then there's something to be said for that.
Speaker 3: I remember, and I had, I had a great educational experience.
Speaker 3: So I don't mean, I don't mean to come down
Speaker 3: in any of it, But the things that I look
Speaker 3: back on, I remember examples such as when we first
Speaker 3: got computers. When computers were very first a thing, the
Speaker 3: teachers wanted nothing to do with them. I mean, I'm
Speaker 3: talking this is back, this is back before the days
Speaker 3: of Oregon Express or Oregon Trail or whatever that thing was.
Speaker 2: But they didn't want to touch it at all.
Speaker 3: They simply wanted to get us in the room so
Speaker 3: that the computer expert would would basically take over.
Speaker 2: For that half hour forty minutes.
Speaker 3: So yeah, I think I think we are in a
Speaker 3: situation with this stuff where it can be tough to pull,
Speaker 3: you know, a teacher.
Speaker 2: Out of what their background is.
Speaker 3: Maybe they know history, maybe they know mathematics, but they
Speaker 3: don't know the personal finance side themselves. Remember, I have
Speaker 3: a job for a reason. Not a lot of people
Speaker 3: know how to put the puzzle pieces together. So throwing
Speaker 3: them in and asking them to teach this curriculum can
Speaker 3: be a challenge. Well I'll take that at face value.
Speaker 3: But they're adults, and they have their own families, and
Speaker 3: they make a salary annually. I would like to think
Speaker 3: that they have the basic skill sets to manage teaching.
Speaker 3: You know, ignorant wide eyed youths, some basic financial strategy.
Speaker 3: I mean, it's not like it's rocket science.
Speaker 2: You know it's not.
Speaker 3: But there's also a lot of ignorant, white eyed adult Again,
Speaker 3: that's why I have a job.
Speaker 2: I love what I do.
Speaker 1: But yeah, that happened, and they're teaching your children or not,
Speaker 1: as the case may be. Brian James, thanks to get
Speaker 1: all were financial for load and yet I always appreciate
Speaker 1: our conversations. I'll look forward to next month in another edition.
Speaker 1: I hope you have a fantastic week, my friend.
Speaker 2: Back at you, Brian. We'll talk to you next week.
Speaker 1: Donovan's Cares that's the website, Donovan's Cares chr S and
Speaker 1: they do Dale Donovan and the team. We're gonna hear
Speaker 1: from Dane Donovan about the car giveaway. They have a car,
Speaker 1: it's been fully repaired, ready to hit the ground running
Speaker 1: for someone in need, out in the community. We're gonna
Speaker 1: learn from Dane about this in the next segment. I
Speaker 1: hope you can stick around. This is fifty five karc
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