Speaker 1: That's our new word of the years. Yeah, heat dome.
Speaker 1: Remember when his hook echo was the first thing, and
Speaker 1: then it was direct show or direct show.
Speaker 2: Now it's a heat dome. So I feel that heat
Speaker 2: dome looks like thunderdome. Get our weapons out and start
Speaker 2: beating the crap out of each other, which certainly could
Speaker 2: happen anyway. Obviously, we attacked Iran over the weekend. The
Speaker 2: United States b two bombers dropping the bump bunker busters
Speaker 2: so we can get to the nuclear centrifuges at Fordham.
Speaker 2: Clearly on the heels of Israel really having a very
Speaker 2: successful military effort against the Iranians. Question Mark what happens next?
Speaker 2: I know the Iranians are a little miffed. They have
Speaker 2: threatened to do certain things including shut down the Straight
Speaker 2: of Horror moves and if you look at a map, boy,
Speaker 2: they got a lot of square miles along that straight
Speaker 2: and that that narrow its point, it's only two miles wide.
Speaker 2: And it was reported I saw on the Wall Street
Speaker 2: Journal that it's susceptible to mines, for example, as well
Speaker 2: as launches from the Iranian soil onto the shipping lanes
Speaker 2: and Straight of Horror moves, although probably not a really
Speaker 2: smart idea for them to do that, twenty percent of
Speaker 2: the global oil supply moves through that strait. That is
Speaker 2: a substantial amount. Brian, Where are we in terms of
Speaker 2: futures and how this looks?
Speaker 1: Yeah, and you're right, and that's not something I had
Speaker 1: looked at in a very long time. But you're exactly
Speaker 1: right about that map. That's Beach territory apparently. Yeah, look
Speaker 1: on a map that the entire Straight Ohar moves runs
Speaker 1: along the Iranian border. So where we are right now
Speaker 1: is the headlines. We got to be careful with these headlines,
Speaker 1: as always, read the article, not the headliness going to
Speaker 1: make T shirts to say that.
Speaker 2: I know.
Speaker 1: So the Straight of Horror Moves as of now, as
Speaker 1: of this moment right now, has not been closed. They
Speaker 1: voted to close it, but it still has to go
Speaker 1: through Iran's Supreme National Security Council. They have different layers
Speaker 1: of management or different layers of decision making bodies similar
Speaker 1: to we, and of course everything goes through this Supreme
Speaker 1: Leader of the I told. But anyway, Parliament voted to
Speaker 1: close it. They have not made an official decision. It
Speaker 1: is impacting transit some tankers are going the other direction
Speaker 1: or pausing their move been through there were just avoiding
Speaker 1: it entirely. In merchant shipping is also being advised to
Speaker 1: avoid those waters. However, the strait of Horn moves is
Speaker 1: open for now. The reason why haven't they just slammed
Speaker 1: the door, Well, like you just said, twenty percent of
Speaker 1: the world's oil moves through that strait. They can't do
Speaker 1: that without hurting themselves. So if they just wanted to
Speaker 1: hurt everybody else, then they'd have done it already and
Speaker 1: it probably never would have been opened in the first place.
Speaker 1: But that will have an impact on Iran. They have
Speaker 1: to be careful what they do to themselves. You know,
Speaker 1: cut off the nose to spite the face.
Speaker 2: Right, and you know, honestly, we have to acknowledge this
Speaker 2: is all over the backdrop of Iranian oil being subject
Speaker 2: to sanctions right now and their biggest customer China, and
Speaker 2: they would be the biggest loser if they shut down
Speaker 2: the straight to Horn meuse these these these tankers wouldn't
Speaker 2: be able to get to make their way to provide
Speaker 2: China with the oil it needs. And in fact, Secretary
Speaker 2: of State Mark Rubia made the point over the weekend,
Speaker 2: they urged China to remind Iran against the problems that
Speaker 2: they would face by closing the straight And China, of
Speaker 2: course is a bigger friend of Iran than anybody else is.
Speaker 2: So that's that's a lot of pressure that could come
Speaker 2: from China. Yeah, and don't forget India.
Speaker 1: India is not not far behind China in terms of
Speaker 1: buying oil from Iran. So yeah, and this is where
Speaker 1: one of those things where if you've been frustrated with
Speaker 1: globalization and disappointed at how that outcome has been, well,
Speaker 1: globalization could be saving us from larger wars right now
Speaker 1: because everything being connected to everything else means that nobody
Speaker 1: can do anything unilaterally. Anything that one one organization or
Speaker 1: one country does will impact many other countries that maybe
Speaker 1: they don't even want to impact. Maybe that's not the
Speaker 1: country that's particularly in the crosshairs, but there's always going
Speaker 1: to be a ricochet action. So it's not as easy
Speaker 1: to disrupt as it used to be.
Speaker 2: Oh and then when you look at the map as well,
Speaker 2: on the other side of the of the strait from Iran,
Speaker 2: you've got Kuwait, which looks like that's the only avenue
Speaker 2: to get its oil out the United Arab Emirates as well.
Speaker 2: And while Saudi Arabia does have a lot of square
Speaker 2: miles along the straight or Horn moves, I've read that
Speaker 2: they do have pipelines that should allow them to get
Speaker 2: their oil out by alternave means they do.
Speaker 1: Yeah, and so again, nothing is ever as simple as
Speaker 1: it seems. Ever, so there's going to be a major
Speaker 1: impact here, But it's going to be a whole lot
Speaker 1: of headline, any and article reading this week. We don't
Speaker 1: know what's going to happen this week, but we have
Speaker 1: just begun this particular chapter of global history here. Well,
Speaker 1: yes we have.
Speaker 2: And the other thing we benefited from our own fracking,
Speaker 2: which allowed us to be one of the largest oil
Speaker 2: producers in the globe. Thankfully we have our own resources here,
Speaker 2: so maybe we'll have less of a sting. Although it
Speaker 2: being a global commodity, the price of a barrel of
Speaker 2: oil don't necessarily go up if it does get shut down.
Speaker 2: What about inflation, any impact that this conflict's going to
Speaker 2: have on inflation? I saw the headline from USA today
Speaker 2: what an attack on Iran can mean for oil prices,
Speaker 2: inflation and the US dollar. Your take on inflation in
Speaker 2: the US dollar. Bryan, Well, it's not gonna help, let's
Speaker 2: put it that way.
Speaker 1: So yes, So these strikes did drive oil prices up briefly.
Speaker 1: As we're sitting here right now, things aren't too too crazy.
Speaker 1: A stock market futures are up just a little bit
Speaker 1: and oil is kind of calm down. So early panic,
Speaker 1: of course, because whenever we get this initial headline, we
Speaker 1: just don't know exactly how far this is going to go,
Speaker 1: how long it's going to last, So of course there's
Speaker 1: always a shock. Golf and Israeli equity markets moved around, okay,
Speaker 1: but oil had a big spike. The infrastructure, however, it
Speaker 1: still remains intact. Right This was not an attack on
Speaker 1: oil infrastructure, of course, It was an attack on the
Speaker 1: nuclear side of things. So this is going to be
Speaker 1: more about the handshake agreements that are now probably no
Speaker 1: longer agreements, and seeing how everybody wants to react to it.
Speaker 1: But to your question, if oil settles in about the
Speaker 1: eighty to ninety dollars range right now, it's about seventy
Speaker 1: seven bucks a barrel, then headline inflation could be looking
Speaker 1: at it, maybe a bump of point three to point
Speaker 1: four percent. This summer core inflation, We're not looking for
Speaker 1: that to move whole lot. And the growth drag from
Speaker 1: those higher gasoline prices is going to be offset a
Speaker 1: little bit by more defense spending and stronger shale activity
Speaker 1: for those fracking reasons you just mentioned. So at this point,
Speaker 1: knocking furiously on wood or whatever this desk is made of, uh,
Speaker 1: we don't. We're not looking for any major impacts. Obviously,
Speaker 1: Let's check again next week and see how we come out.
Speaker 2: Right. I honestly, when I saw the the futures markets
Speaker 2: and you indicated that are up a little bit, they
Speaker 2: were only down when I saw them this morning by
Speaker 2: zero point one point five pretty much across the board.
Speaker 2: So clearly this has not impacted what people's expectations are
Speaker 2: about the market oil notwithstanding. Do you find that puzzling
Speaker 2: or do you think that's like I guess market force
Speaker 2: has been looking at the at the globe. It's a globe.
Speaker 2: It's a conflict in one small regional the world airgo.
Speaker 2: It's not going to impact my trading. It's not going
Speaker 2: to impact you know, the companies that I'm invested in.
Speaker 2: I mean, I guess I really expected it just because
Speaker 2: of the bleak realities of war, that the futures will
Speaker 2: be down a lot more.
Speaker 1: Yeah, And I think I think some of this has
Speaker 1: to do with the idea that over the past several decades,
Speaker 1: the world has just gotten used to chaos. You know,
Speaker 1: I've mentioned this before, but I believe the eighties and
Speaker 1: the nineties where largely nothing thing happened, and I'm speaking comparatively. Certainly,
Speaker 1: lots of things happened, but comparative to the last couple
Speaker 1: and a half decades, then the eighties and nin ninety
Speaker 1: were kind of the anomaly, and I think we all
Speaker 1: lulled ourselves to sleep thinking that that was normal, that
Speaker 1: things just just just kind of hummed along and really
Speaker 1: nothing crazy, super crazy happened. But reality, if you look
Speaker 1: before that and since then, chaos has been the norm,
Speaker 1: and that's kind of where we are. So I do
Speaker 1: believe that this is another place where the never ending
Speaker 1: news cycle of headlines has helps a little bit because
Speaker 1: we're always we are bombarded with yeah, news, good, bad,
Speaker 1: and different whatever news news news, that's all we hear,
Speaker 1: so I think it kind of lessens the impact of
Speaker 1: all of it in the short run. But obviously we
Speaker 1: do have volatility, as you just mentioned. I think you
Speaker 1: just called me out here a little bit. When I
Speaker 1: first got my cup of coffee, Brian, futures were down.
Speaker 1: By my second cup of coffee, they were up, and
Speaker 1: you just pointed out they're down again, not very much,
Speaker 1: but when we're down a fraction of a percent.
Speaker 2: Yeah, tiny little bits. And again I really expected, you know,
Speaker 2: a couple of single digit numbers and at least some
Speaker 2: those markets, and I was pleasantly surprised. You know, maybe
Speaker 2: we can just take away something positive from this. The
Speaker 2: world isn't in perfect place. There's chaos going on all
Speaker 2: the time in the world. We just know about it
Speaker 2: more now because of the Internet. And look, we all
Speaker 2: managed to live, thrive and survive, notwithstanding in the challenges
Speaker 2: here and abroad. So something positive might come from this.
Speaker 2: Who knows. Anyway, we'll continue with Brian James, Fed keeping
Speaker 2: rates right where they are. I was reminded to Carter
Speaker 2: Pay Jimmy Carter and Paul Volker, Brian meane, we'll have
Speaker 2: a little conversation about that, given Trump and his arguments
Speaker 2: with the Fed on interest rates. A day fifteen right now,
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Speaker 1: Org fifty five KRC team right.
Speaker 2: Now if you buy KRC the talk station Happy Monday,
Speaker 2: right Thomas with Money Monday's Brian James talking money issues
Speaker 2: and of course the ongoing battle between the Trump administration
Speaker 2: and the FED chair jerown pal rates. I guess it
Speaker 2: currently are four point two four to four point five percent,
Speaker 2: and he announced he's planning on leaving them there. I
Speaker 2: guess there's a lot of question marks floating around labor market.
Speaker 2: I guess is growing at what he called a solid
Speaker 2: pace uncertainty expressed about the impact active US tariff policies
Speaker 2: on inflation, and Brian, let's start there, because the whole
Speaker 2: world was going to come to a screeching halt. We're
Speaker 2: all going to die because of Trump's terariff policies. And
Speaker 2: I know he's sort of used it as a mechanism
Speaker 2: to sit down with some of the countries and negotiate
Speaker 2: better terms and conditions. But regardless of whether anything's been
Speaker 2: negotiated or agreed upon, it doesn't seem to have had
Speaker 2: a profound impact on our day to day lives, has it?
Speaker 1: No? Not really. I mean, there are those out there
Speaker 1: now there. I'm sure there's somebody screaming at their there
Speaker 1: always advice or windshield or whatever, saying hey, this hit
Speaker 1: me in the face last week. And I do have
Speaker 1: personal friends who who have had to deal with the
Speaker 1: China tariff specifically the own factories and things that bring
Speaker 1: over raw materials, and this has been an extremely stressful
Speaker 1: time for those folks, so certainly don't mean to imply
Speaker 1: that it's not out there. However, I think what you're
Speaker 1: saying is this has not changed the daily routine and
Speaker 1: the lifestyle of the average American and I can and
Speaker 1: I can vouch for that myself. I sit down with
Speaker 1: average Americans every single day at this table when we
Speaker 1: do financial planning, and the only real concerns I hear
Speaker 1: is just general complaints about the price of things in general,
Speaker 1: not so much that somebody has had to absolutely change,
Speaker 1: you know, what they what they what they're doing. And
Speaker 1: I think this that's why we're still seeing the you
Speaker 1: know we were talking about earlier. Even the crazy headlines
Speaker 1: have not impacted the market. The market is actually almost
Speaker 1: up to an all time high again. We of course
Speaker 1: gave back a little bit obviously with when the strikes
Speaker 1: became news last week, but at this point we're not
Speaker 1: so much concerned about yet about having to change how
Speaker 1: we do things. That would be coming through if if
Speaker 1: consumers were changing their thinking, then that would be coming
Speaker 1: through in the markets rather quickly. However, consumer spending came
Speaker 1: out okay in the most recent report. Remains to be seen,
Speaker 1: of course, what comes in the following months. But at
Speaker 1: this point, knock on wood, we're not it's not looking
Speaker 1: so scary out there.
Speaker 2: Well, and you know, I'm old enough to remember how
Speaker 2: bad things used to be. I mean, four point five percent,
Speaker 2: it's a lot compared to where it was before. But
Speaker 2: it isn't eighteen or whatever percent it was back in
Speaker 2: the Carter days when he was screaming at Paul Volker about,
Speaker 2: you know, lowering the interest rates. We had stagflation going on.
Speaker 2: That it was a very complicated situation.
Speaker 1: Yeah. Now, now again, I always want to be fair
Speaker 1: to people who aren't in your and my fortunate situation
Speaker 1: of having ridiculously low mortgage rates. I would not want
Speaker 1: to be buying a house right now, not necessarily because
Speaker 1: of the interest rates. You're right, that's a relatively short
Speaker 1: term thing. And historically speaking, a six seven percent mortgage
Speaker 1: is still low over the last century. That is still
Speaker 1: a low mortgage rate relatively speaking. It's the purchase price, Brian,
Speaker 1: that's the part. When you couple that with the interest rate,
Speaker 1: it just makes it unattainable, and that's what's making it
Speaker 1: really hard, you know, for our kids, yours and mine
Speaker 1: or at that age to really pull the trigger there.
Speaker 1: So people want to see those rates come down. The
Speaker 1: President certainly does, but Jerome Palell is not convinced yet
Speaker 1: that if he does that, we won't quickly quickly quickly
Speaker 1: see inflation.
Speaker 2: Any tea leaf reading on the housing market, you're right,
Speaker 2: houses are outrageously expensive, and of course that came on
Speaker 2: the heels of COVID nineteen when every man, woman and
Speaker 2: child would realize they could work remotely and then started
Speaker 2: buying up properties in the four corners the United States
Speaker 2: of America as they fled California, New York. But California
Speaker 2: New York real estates still outrageously high. And I just
Speaker 2: don't see an end in sight on this. There's not
Speaker 2: a big, at least from my impression, a big build
Speaker 2: up of builders out there in the world that are
Speaker 2: building what you and I might call affordable homes or
Speaker 2: more affordable homes. So as long as the market is
Speaker 2: what it is and they keep building these large, you know,
Speaker 2: eight nine hundred thousand dollars homes, there's not going to
Speaker 2: be any way to solve this problem for the younger folks.
Speaker 1: Yeah, and it's it's really it's the affordability that you
Speaker 1: mentioned there that that's really not where the builders are.
Speaker 1: There's plenty of building going on, that's that's not the
Speaker 1: you know, that's not the issue. There's I'm up here
Speaker 1: in Liberty Township and we've lost a few more cornfields
Speaker 1: here over the last month and a half or so.
Speaker 1: Sure you had happening, but but yeah, numbers wise, housing
Speaker 1: starts are down about ten percent, building permits dropped about
Speaker 1: two percent. So these are very recent numbers here. So
Speaker 1: that suggests that the that the market's going to see,
Speaker 1: you know, not a whole lot of upside in the
Speaker 1: months ahead, but that does I don't think it's lack
Speaker 1: of upside we're looking for. I think we're looking for
Speaker 1: downside for like you said, for affordable housing. Affordable housing
Speaker 1: doesn't mean that we build a small house and price
Speaker 1: it where it is right now, they're currently unaffordable. We
Speaker 1: need to find a way for younger people to get
Speaker 1: a foothold so that they can start their lives, start
Speaker 1: their families, and begin to grow forward. Because that's ultimately
Speaker 1: what's going to drive the economy over the next several decades,
Speaker 1: not you and me buying, you know, a nice house
Speaker 1: to retire into.
Speaker 2: Yeah, you know what really bothers me. It's almost like
Speaker 2: the answer to the problem is some sort of you know,
Speaker 2: massive recession come depression kind of thing in order to
Speaker 2: force the prices down would be catastrophic.
Speaker 1: Of course. Yeah, and that's you know, we're certainly not
Speaker 1: rooting for that neither, right, We're rooting for more of
Speaker 1: this soft landing stuff. Remember in three years ago or so,
Speaker 1: and when soft landing was kind of the best outcome
Speaker 1: anybody could ever think of. Yeah, we never had that
Speaker 1: soft landing. We just kind of stopped talking about it,
Speaker 1: which I think is what a soft landing is.
Speaker 2: I think you're right, we just got used to it.
Speaker 2: Although the norm is not good for America's younger folks
Speaker 2: who are looking to start out and you know, invest
Speaker 2: in a home and at least get some equity build
Speaker 2: up as opposed to just paying rent the rest of
Speaker 2: their lives. Rian James. The bad news coming up next,
Speaker 2: Not that this always rosy news, but yeah, the reports
Speaker 2: out social Security. The timeline's not looking good. One more
Speaker 2: with Brian James from all with financially.
Speaker 1: Right back fifty five KRC.
Speaker 2: Hey, if you're listening to me right now, and we
Speaker 2: may as well get everybody the cold, hard bad news.
Speaker 2: The Social Security Administration's got new trust fund depletion dates.
Speaker 2: I saw the Wall Street Journal article published on the
Speaker 2: nineteenth of June. Social Security ICEBERG gets closer. Official trustees
Speaker 2: now estimate the need for a twenty three percent cut
Speaker 2: and benefits plus eleven percent to Medicare in eight years.
Speaker 2: You know, our elected officials can ignore the problems that
Speaker 2: we're facing all day long, and they have been for years.
Speaker 2: I mean, you and I have talked about this before
Speaker 2: as a topic. It's been a generally running topic of
Speaker 2: conversation for decades in terms of the direction social Security
Speaker 2: was going. And it seems like the day of wrecking
Speaker 2: is now coming a lot sooner than anybody really projected.
Speaker 2: We're looking at insolvency in twenty thirty three.
Speaker 1: Yeah, here's the thing. I want to make sure everybody
Speaker 1: knows that insolvency does not does not And I want
Speaker 1: to stamp my feet and say this does not mean
Speaker 1: there will not be a Social Security check right now,
Speaker 1: there is more money flowing into the Social Security system
Speaker 1: than flows out. That's the surplus. It's not a pile
Speaker 1: of money that slowly graining to zero over here of
Speaker 1: eight years. Next time you get paid, look at the
Speaker 1: top half of your pay stub. Look at that fight
Speaker 1: a line. That is what you are paying for Social Security.
Speaker 1: The only way that the fund will completely go away
Speaker 1: is if that fight a line comes off of your
Speaker 1: pay stub. Now, there's those out there who would very
Speaker 1: much want the whole system to go away and for
Speaker 1: taxes to just not be a thing. That isn't realistic.
Speaker 1: We're going to have an awful lot of people wandering
Speaker 1: the streets in their golden years. That ain't happening. So
Speaker 1: FICA taxes will be there, we will be paying them,
Speaker 1: and Social Security will be distributing income as it always has.
Speaker 1: So what does it actually mean though? So this is
Speaker 1: what what Brian would you just said? So benefits at
Speaker 1: this point are estimated. If nothing changes, then the inflows
Speaker 1: that the socicurity system will receive from those pay stubs
Speaker 1: will only cover about seventy seven percent of the pre
Speaker 1: crisis of Social Security benefits. So simply means that you,
Speaker 1: whatever your report says, if you're trying to do your
Speaker 1: own financial planning, look at your financial report that you
Speaker 1: can pull off of SSA dot Gov or my Social
Speaker 1: Security report. Take that number for full retirement age, which
Speaker 1: is going to be somewhere between sixty six and sixty seven.
Speaker 1: That's the dollar amount you're supposed to receive every every
Speaker 1: year or every month, and knock about twenty to thirty
Speaker 1: percent off of it. As we're sitting here right now,
Speaker 1: that is the direct impact that we will see unless
Speaker 1: something changes over the next eight years.
Speaker 2: Well, do you think this would change the direction of
Speaker 2: people's behavior in terms of their planning for their own
Speaker 2: financial future. It certainly sends a warning shot over about
Speaker 2: folks who are relying on so secure like, oh my god,
Speaker 2: I'm gonna have to deal with twenty five percent less
Speaker 2: or whatever. But if you're young enough, we can start
Speaker 2: planning for your future. You can get around this problem
Speaker 2: that's looming.
Speaker 1: Absolutely. But then, and the answer to that is the
Speaker 1: same as if there weren't a problem. Save and save
Speaker 1: a lot of money. You know, you want to be
Speaker 1: in control of your future anyway, regardless of social securities issues.
Speaker 1: You still want to be able to call your shot
Speaker 1: So the answer is, make sure you're saving and saving
Speaker 1: a good chunk, invest aggressively, don't make a mess of
Speaker 1: your credit. Do those things for thirty thirty, thirty or
Speaker 1: so years if when you're just getting started, and you'll
Speaker 1: be okay in the long run. Now that said, there's
Speaker 1: a lot of things that could change. Something has to
Speaker 1: get We can't simply plow forward here. But as a society,
Speaker 1: we have been unwilling to elect people and unwilling to
Speaker 1: listen to those elected about the sacrifices that we will
Speaker 1: need to make. And it is quite simple. There's a
Speaker 1: million ways we can do this. But at the end
Speaker 1: of the day, Brian, we are either lowering benefits or
Speaker 1: raising taxes. There's a lot of ways that could happen.
Speaker 1: We are lowering benefits by simply reducing the dollar amount.
Speaker 1: We could raise the retirement age, make you have to
Speaker 1: be older before you receive that money. Could also in
Speaker 1: terms of raising taxes, it's not necessarily just the percentage
Speaker 1: that could be raised. They could raise the wage cap.
Speaker 1: Right now, nobody who makes over one hundred and seventy
Speaker 1: six thousand dollars. Nobody gets taxed above one hundred and
Speaker 1: seventy six thousand dollars for Social Security that is capped.
Speaker 1: They could remove that, they could raise it, they could
Speaker 1: increase the payroll tax rate. There's a million ways this
Speaker 1: can happen. But more needs to flow in, or less
Speaker 1: needs to come out, or more likely a combination of both.
Speaker 2: Yeah, the one hundred and seventy six thousand dollars that's
Speaker 2: been around a long time, hasn't it.
Speaker 1: Oh yeah, it goes up. It goes up, you know,
Speaker 1: every year a little bit. But the point is there's
Speaker 1: a lot, a lot of income earned by people that
Speaker 1: are that is way above that. If we simply removed
Speaker 1: that cap, which that's a pretty low cap when you
Speaker 1: think about the three hundred and thirty million people out
Speaker 1: there and the range of incomes that exist in this country,
Speaker 1: that cap is really really low. If we remove that cap,
Speaker 1: that was the one thing that we did, the whole
Speaker 1: problem goes away. It goes poof overnight, Brian. But we're
Speaker 1: not willing to do that. That's a sacrifice. This country,
Speaker 1: the society is not willing to make sacrifices. Yet. We're
Speaker 1: going to be forced to a eventually, but we prefer
Speaker 1: to kick the cant. So far.
Speaker 2: Yeah, and maybe there's a bright light in this inability
Speaker 2: to buy a home reality younger people are facing. You know,
Speaker 2: I know there's always the problem of rent, but rent's
Speaker 2: kind of static, Brian. And you don't have to replace
Speaker 2: the roof when you're paying rent. You don't have to
Speaker 2: replace the water heater, you don't. I mean, there's a
Speaker 2: multitude of things that go into home ownership which are
Speaker 2: very unpleasant from time to time. Maintenance enough keep alone,
Speaker 2: plus insurance. Maybe they'll find a better resource in putting
Speaker 2: their money and socking their money away in an investment
Speaker 2: plan since not having to deal with the expense of
Speaker 2: home ownership, it can be Yes.
Speaker 1: The thing that scares me though, is now one of
Speaker 1: your largest expenses is completely subject to inflation. Your and
Speaker 1: my mortgage payments aren't going to change based on the inflation,
Speaker 1: but rent absolutely will.
Speaker 2: Yeah, and there's always that pesky energy bill which keeps
Speaker 2: going through the roof as well.
Speaker 1: We're all stuck with that.
Speaker 2: Lots of layers on this, Brian James, but I certainly
Speaker 2: appreciate you raising and bringing to everybody's attention each Monday
Speaker 2: on Money Monday. Have a great week, my friend will
Speaker 2: do this again next week.
Speaker 1: Stay cool. Talk to you next week.
Speaker 2: Yeah you too, man, It is hot out there. Five one, three, seven, four,
Speaker 2: nine fifty five hundred, eight hundred eighty two three talk
Speaker 2: pound FY fifty on AT and T phones. It's got
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