Speaker 1: I think Trump does. I think she knows leave doing
Speaker 1: every day.
Speaker 2: What do we have to do?
Speaker 3: You know?
Speaker 4: Fifty five krc D talk station, dashai Ato six here,
Speaker 4: fifty five KRCG talk station. I'm very happy Monday to
Speaker 4: all by Thomas. Always enjoyed this time of Monday because
Speaker 4: you get talked to money Monday. Brian James from Allworth
Speaker 4: Financial going over the issues that impact our our savings
Speaker 4: and our monetary situation and of course our retirement plans.
Speaker 4: Welcome back, Brian James. Great to have you on today.
Speaker 3: Thank you very much as always in Happy belated Mother's
Speaker 3: Day to all those mothers out there.
Speaker 4: Amen to that. I've been doing that all morning. Got
Speaker 4: to love your mom. And the landscape of the stories
Speaker 4: we're talking about today, I at least a couple of
Speaker 4: them may start to change. I'm sure you know that
Speaker 4: US and China agreed to the tariff cuts over the weekend.
Speaker 4: Was announced this morning. We're gonna keep recivical tarats a
Speaker 4: ten percent. We got that additional twenty percent because China's
Speaker 4: role in the fentnel trade. But the one and twenty
Speaker 4: five percent retaliatory trade lovies on US goods and Chinese
Speaker 4: goods apparently has been put to rest, and we've got
Speaker 4: at least a ninety day pause in those tariffs, which
Speaker 4: got the markets really soaring this morning. Futures are up
Speaker 4: across the board.
Speaker 3: It's going to be a good day according to futures.
Speaker 3: And that's what happens when we get the good news.
Speaker 3: So that this is the one thing Brian that kind
Speaker 3: of keeps should hopefully keep everybody a little bit more
Speaker 3: calm about what happens is this is self inflicted. The
Speaker 3: United States is choosing to represent itself differently to the
Speaker 3: rest of the world in terms of being a trade partner.
Speaker 3: But underneath this, as we're sitting here right now, is
Speaker 3: still a pretty strong economy that is ready to roll
Speaker 3: once the fog clears. And this has happened. This seems
Speaker 3: to happen about every week and a half two weeks.
Speaker 3: We'll get a snippet of good news and the market
Speaker 3: will bounce up. Right now, we're looking at really really
Speaker 3: high futures. S and P's up three percent and everything's
Speaker 3: up something like three to four percent. And that's not
Speaker 3: because things got wonderful overnight. It's because some of the
Speaker 3: fog clear. That's all the market ever wants is some
Speaker 3: clarity once to be able to predict here's how companies
Speaker 3: are going to be able to operate, and here's roughly
Speaker 3: what they're going to be able what kind of profits
Speaker 3: they're going to be able to make, And when we're
Speaker 3: throwing these tariffs back and forth at each other left
Speaker 3: and right, there's no way to do that calculation. So
Speaker 3: at the moment the market is saying, okay, cool, I
Speaker 3: can see at least ninety days into the future because
Speaker 3: we know what the tariff situation is going to be
Speaker 3: with our largest trading partner, and a smaller headline was
Speaker 3: we did come to an official agreement with the UK.
Speaker 3: Now they're not a huge trading partner, and I was
Speaker 3: kind of googling this and it basically said we're gonna
Speaker 3: save hundreds of millions on Jaguar and land Rover, so,
Speaker 3: you know, some help for the little guy. Finally, the
Speaker 3: cavalry is coming by Thomas.
Speaker 4: Well, all this on the heels of yes, shipping demand
Speaker 4: has dropped precipitously. Of course, the tariffs have a large
Speaker 4: role in what we're going to be shipping from China
Speaker 4: to here, and of course global shipping apparently he's dropped
Speaker 4: off a lot. Is this all directly related to the
Speaker 4: tariffs or is there some other economic reality lurking behind
Speaker 4: the scenes on this Brian James.
Speaker 3: Out there, there's always other economic reality, right, There's lots
Speaker 3: of little things pushing and pulling on the overall situation.
Speaker 1: That's always the case.
Speaker 3: But this is all tariff driven, and it's starting to
Speaker 3: feel to me like, I don't know if you remember
Speaker 3: December of twenty nineteen, early twenty twenty when we heard
Speaker 3: about a thing called COVID and it was going to
Speaker 3: be coming ashore in the next few months. Well now
Speaker 3: five years into the future, what we're hearing about is
Speaker 3: the fact that shelves are going to be empty. And
Speaker 3: that's what we're starting to see, not the shelves. I mean,
Speaker 3: I've been to the stores too, and don't I don't
Speaker 3: see it yet. However, ports like Los Angeles, Long Beach,
Speaker 3: New York, New Jersey, they are experiencing large drops in cargo,
Speaker 3: especially from China. Import booking volumes down thirty five percent
Speaker 3: since March. Shipments from China down forty three percent. That
Speaker 3: includes electronics, plastics, vehicles, steel, textiles down by more than half.
Speaker 3: This is going to surface eventually. We have yet to
Speaker 3: see it, but it's coming.
Speaker 4: Well, isn't part of this drop in shipping demand because
Speaker 4: a lot of these businesses and industries front loaded larger
Speaker 4: orders in anticipation of the tariffs ultimately kicking in. So
Speaker 4: you have so you have a large increase in shipping
Speaker 4: followed by a drop in shipping because I guess there's
Speaker 4: a limited storage space. There's only so much that any
Speaker 4: given company that buys Chinese goods, for example, can buy
Speaker 4: at any one time, even if they're trying to front load.
Speaker 4: So and plus, you know, it really is kind of
Speaker 4: a tea leaf reading kind of thing because you don't know,
Speaker 4: as we kind of alluded to a moment ago, you
Speaker 4: really don't know what's going to ultimately happen. And Trump's
Speaker 4: been busily negotiating with one hundred and seventy different countries
Speaker 4: to come up as like Britain, some satisfactory a level
Speaker 4: of tariffs that we can all live and work with,
Speaker 4: and something that might expand the American markets. But that's
Speaker 4: an ever evolving, ever moving landscape. So how much extra
Speaker 4: stuff do you buy anticipating tariffs are going to cause
Speaker 4: you a financial problem. It's like, if you want a restaurant,
Speaker 4: how much meat do you buy at the beginning of
Speaker 4: the week, how many people are going to order stakes
Speaker 4: you know you're gonna have losses. Are you gonna overbuy
Speaker 4: and have to throw things out? It's a complicated thing, it.
Speaker 3: Really is, and that's why a lot of smart financial
Speaker 3: brains get paid a lot of money to understand exactly
Speaker 3: what their companies need. Unfortunately, the average American doesn't really
Speaker 3: have the ability to do this, with the exception of
Speaker 3: toilet paper, which is the first thing to go whenever
Speaker 3: it snows and whenever we have pandemics apparently. But yeah,
Speaker 3: so this is simply a business decision where they're just saying, Okay,
Speaker 3: it looks like it's going to get a little crazy
Speaker 3: in the next few months.
Speaker 1: We really need to.
Speaker 3: Stock up on this, that, and the other, but we're
Speaker 3: going to ignore these other things. And so what you saw,
Speaker 3: that's what triggered the economic poolback in the United States
Speaker 3: are our most recently reported economic quarter was negative. We
Speaker 3: don't call that a recession until we have two quarters
Speaker 3: in a row. But that was kind of self inflicted
Speaker 3: from a standpoint of because these tarifs were in place.
Speaker 3: For the exact reason you just mentioned, companies and businesses
Speaker 3: started buying a lot more from overseas, therefore a lot
Speaker 3: less than the United States. So arguably it's possible you
Speaker 3: could be looking for a bit of a perk up
Speaker 3: in the United States domestic purchases as long as those
Speaker 3: products that these businesses need are available from the United States.
Speaker 3: Nothing magical happened in the first quarter to suddenly create
Speaker 3: factories where there were none. There are things we can't
Speaker 3: get from anywhere else. That's why there's a lot of
Speaker 3: businesses out there suffering. And I'm assuming there's somebody screaming
Speaker 3: at their windshield right now saying, hey, that doesn't help me.
Speaker 1: I can't buy domestically.
Speaker 3: I have to I got to kind of take it
Speaker 3: in the pants here until we get these tariffs cleared up.
Speaker 4: And I keep thinking of going back to COVID and
Speaker 4: you're comment about that. That's when we sort of all
Speaker 4: came to the realization that, you know, we don't manufacture
Speaker 4: a lot of things that you know, are critical to
Speaker 4: our even our nation's security. Pharmaceuticals came into mind immediately,
Speaker 4: when like, oh my god, we rely on China. For
Speaker 4: all of these, including the pharmaceuticals our members in uniform
Speaker 4: have if we had been sort of conflict, China just
Speaker 4: flips the switch and doesn't sell them to us anymore.
Speaker 4: So there are reasons other than tariffs for US to
Speaker 4: have some measure of incentive to start manufacturing either with
Speaker 4: countries with whom we have no conflict, or at least
Speaker 4: start manufacturing them in here in the United States. But
Speaker 4: as you illustrate, as you point out, it takes time
Speaker 4: to ramp up, and it also comes as at a
Speaker 4: significantly higher cost because of the imbalance in labor between
Speaker 4: US in China.
Speaker 3: A lot of this comes from the fact that the
Speaker 3: United States was founded and grew to its current size
Speaker 3: based on the idea of being the United States a
Speaker 3: profit margin. Everything we can possibly do, everything we can
Speaker 3: squeeze profit out of.
Speaker 1: That's just the way that we roll.
Speaker 3: So you talk about we want to bring pharmaceuticals on
Speaker 3: shore somehow, some way, someone is looking at that as Okay,
Speaker 3: I can do that, I can build a factory that's
Speaker 3: going to do that, and here's on what profit margin
Speaker 3: I want to make out of it. Nobody here in
Speaker 3: this country who waves a red, white, and blue flag,
Speaker 3: looks at that and says, you know what, I'm going
Speaker 3: to do that for the good of the people. I'm
Speaker 3: not saying that's a good thing, but that is how
Speaker 3: we make decisions, and everybody does it, include I'll throw
Speaker 3: the unions in there too. It's expensive to build stuff
Speaker 3: here because of the protections we have in place for workers.
Speaker 3: There are union leadership out there who they of course,
Speaker 3: they get paid to kind of bring these deals to fruition,
Speaker 3: just like anybody else.
Speaker 1: People who make.
Speaker 3: Profits by creating products and services are really no different
Speaker 3: than the people who create, you know, a long running
Speaker 3: positions for themselves by leading a group of people in
Speaker 3: an union. Not good batter and different, but all of
Speaker 3: it winds up costing more and that trickles all the
Speaker 3: way back down to the consumer. That's kind of the
Speaker 3: whole point of of the United States. We are here
Speaker 3: to make a profit.
Speaker 4: Yeah, and in spite of the troubles that you illustrate,
Speaker 4: you know, we are kind of a global economy anymore,
Speaker 4: which gives us options of manufacturing in places like China
Speaker 4: where it's cheaper. But over the last several years we've
Speaker 4: seen a lot new a lot of new investment in
Speaker 4: very large businesses and industry, and a lot of it
Speaker 4: does seem to be taking place. So in spite of
Speaker 4: those challenges, apparently there is still some profit in building
Speaker 4: something here in the United States, like these battery manufacturing plants,
Speaker 4: or these artificial intelligence plants and other things.
Speaker 1: Right, And that's the thing to bear in mind.
Speaker 3: If we were in truly in the seventies where we
Speaker 3: had stagflation, but it occurred kind of organically, and I
Speaker 3: mean that. What I mean by that is that there
Speaker 3: are plenty of catalysts right now that are happening. Technology
Speaker 3: has been a catalyst for fifteen twenty years. It kind
Speaker 3: of changes with regard to what the technology is it's driving.
Speaker 3: You know, twenty years ago, it was mobile devices and
Speaker 3: the move to kind of move being able to be
Speaker 3: anywhere and do your job and so on and so forth,
Speaker 3: and that has cycled forth to now to what you
Speaker 3: just mentioned artificial intelligence, which I can't imagine that's not
Speaker 3: touching absolutely every industry very very very rapidly. But that's
Speaker 3: a catalyst for companies to become more efficient, increase their
Speaker 3: profit margin, and lots of companies are going to want
Speaker 3: to invest in supporting it because there's a lot of
Speaker 3: money to be made in So underneath all of this,
Speaker 3: when we stop smacking each other around, there is a
Speaker 3: strong economy and the dollars are still moving around in
Speaker 3: a circle. It just depends on how much longer we
Speaker 3: want to It's a big game of chicken. How much
Speaker 3: longer are we going to have these fights with our
Speaker 3: various trading partners?
Speaker 4: Well continue with Brian James. Empty shelves maybe maybe not,
Speaker 4: student loans they are coming do? And is there going
Speaker 4: to be a housing market correction? Those subjects with all
Speaker 4: Worth Financials Brian James on this Monday Monday, after I
Speaker 4: mentioned Chimneycare, Fireplace and Stove, a couple of reasons you
Speaker 4: give a call Chimneycare, Fireplace and Stove. They've been around,
Speaker 4: locally owned and operated a plus with a better business beers.
Speaker 4: It's nineteen eighty eight, So have your exterior evaluation done.
Speaker 4: It's a free evaluation. The experts from the Chimney Care,
Speaker 4: Fireplace and Stove come check and inspect the exterior of
Speaker 4: your chimney looking for signs of water damage, which is
Speaker 4: something that could be going on. You know, underneath your
Speaker 4: radar and that could be a significant problem for you
Speaker 4: down the road, so have him check it out. Doesn't
Speaker 4: cost anything, right and if you got a wood burning
Speaker 4: fireplace or free standing stove, take advantage of the spring
Speaker 4: special the woodburning sweep and evaluation for just one sixty
Speaker 4: nine ninety nine and that of course includes the exterior evaluation.
Speaker 4: They got professional chimney sweep certified. They are to do
Speaker 4: a video camera inspection of the interior fireplace, sweep it out,
Speaker 4: get it all on working order so you can be
Speaker 4: safe and confident when you hit the ground running in
Speaker 4: the fall when the weather temperatures drop again inevitable Online
Speaker 4: find them at Chimneycarecode dot com. You can book an
Speaker 4: appointment from the website and learn more about the business
Speaker 4: and the show room Chimneycarecode dot com or call them
Speaker 4: up five one three two four eight ninety six hundred.
Speaker 4: That's five one three two four eight ninety six.
Speaker 1: Hundred fifty five KRC for more.
Speaker 4: Information about twey if you have KRCB talk station. Brian
Speaker 4: James from all Worth Financially. He's a financial planner and
Speaker 4: he'll recommend you get one as I would recommend you
Speaker 4: get one. Just make sure they're working on your side
Speaker 4: of the table, and they OEU a finuciary obligation, which
Speaker 4: means you need to get a fee blazed financial planner
Speaker 4: and let them handle the heavy load on managing things
Speaker 4: on a day to day basis, taking the stress off
Speaker 4: of your world. Brian James pivoting over real quick to
Speaker 4: a related story with the empty the global shipping grinding
Speaker 4: them is. And I've seen these red flags waving, you know,
Speaker 4: whaling and gnashing you teeth, Oh my god, and a
Speaker 4: lot of it's driven, I think by Trump arrangement syndrome.
Speaker 4: But there is something to be said that, you know, uh,
Speaker 4: if you're gonna have these massive tariffs, the idea of
Speaker 4: having empty shelves is certainly a possibility, But I suppose
Speaker 4: it depends on what you're looking for. So are we
Speaker 4: going to see a bunch of empty shells and four
Speaker 4: lease signs the headline headline opinion, empty shells, four lease
Speaker 4: signs and job layoffs point to a recession by summer? Geez,
Speaker 4: you and I've been talking about a possible recession now
Speaker 4: for quite a few years.
Speaker 3: Brian, Well, I think we're always talking about the possibility
Speaker 3: of a recession right.
Speaker 1: We're never were, We are never not.
Speaker 3: On our way to the next recession that's always coming up, right,
Speaker 3: It's also going to rain, maybe today, maybe a month
Speaker 3: from now, but by god, one of these days I'm
Speaker 3: going to be right about it. So, yeah, we're currently
Speaker 3: If when you look at the current situation, which is
Speaker 3: about as fluid as it can be, things are changing,
Speaker 3: you know, they change over the weekend, they go from
Speaker 3: black to white. So if you look at the current situation,
Speaker 3: then yes, it does look like we're on our way
Speaker 3: to a recession that is triggered by this. But I
Speaker 3: think the reference you were making there earlier is that
Speaker 3: that up until very recently, everyone was looking for the
Speaker 3: second leg down from COVID. We only recently stopped talking
Speaker 3: about that. And I think I've kind of learned the
Speaker 3: definition and Brian of a soft landing. I think a
Speaker 3: soft landing is with at some point you realize you
Speaker 3: haven't talked about it in months, and therefore that was
Speaker 3: a soft landing. We never declare that, Okay, it's all over,
Speaker 3: you know, everybody back and the.
Speaker 1: Pull, everything's great.
Speaker 3: We just stopped talking about it until the next one
Speaker 3: comes along, and here we are.
Speaker 4: Yeah, That is a funny way of looking at it.
Speaker 4: But you're right, it's right around the corner. Maybe a
Speaker 4: little bit further down the road when you hit that corner.
Speaker 4: But something bad is always going to happen, But then again,
Speaker 4: something good will always happen too, Like I mean today,
Speaker 4: you know, if the futures are are indications where they
Speaker 4: are right now, it turned out to be true, it's
Speaker 4: going to erase all of the losses when since the
Speaker 4: day Donald Trump announced the tariff kicked in place. At
Speaker 4: least that's what I read this morning. Yeah, we are
Speaker 4: clawing our way back to back to zero.
Speaker 3: Really, the S and P five hundred is only down
Speaker 3: as we're sitting here right now, about four percent.
Speaker 1: That does not yet reflect the futures.
Speaker 3: So if futures kick in the you know, if this
Speaker 3: market kicks in where the futures are, then yes, we'll
Speaker 3: be back to even ish at least at the open.
Speaker 1: Let's see what.
Speaker 3: Happens, you know, around ten thirty when we all get
Speaker 3: our second cup of capuously out costs. Right, But at
Speaker 3: this point the market is recovering. And again you mentioned
Speaker 3: Trump derangement syndrome. The market hates question. It doesn't necessarily
Speaker 3: hate any politician or any political beliefs. It simply hates
Speaker 3: lack of clarity. And we have for sure had lack
Speaker 3: of clarity over the past several months, and that's what
Speaker 3: as we start to get these deals across the finish line,
Speaker 3: that's what seems to be clearing up. The other thing, too,
Speaker 3: is we're starting to hear some pretty strong political voices say, hey,
Speaker 3: don't forget me, I have to run for reelection here
Speaker 3: over the next few years. Ted Cruz, Grassley and Ram
Speaker 3: paulse of being some of those big voices who are
Speaker 3: going to remind the president that they themselves are up
Speaker 3: and available to be re elected and would very much
Speaker 3: like to win those elections. So we can't keep smacking
Speaker 3: people around.
Speaker 4: Right, And then they're doing that budget reconciliation thing, and
Speaker 4: you've got all you have everybody on the Republican side
Speaker 4: of the ledger, and they're hoping you have one hundred
Speaker 4: percent uniformity in terms of a yes vote on that.
Speaker 4: They're all fighting for turf and some of them want
Speaker 4: to keep the salt deductions as they are. Some of
Speaker 4: them are saying, if you don't raise those we're going
Speaker 4: to pull plug we're not going to vote yes on this.
Speaker 4: Others are pushing to keep the Green New Deal stuff
Speaker 4: flowing to their states other than saying no, we get
Speaker 4: rid of all of it. So there's a whole lot
Speaker 4: of uncertainty sown into that particular thing, which includes whether
Speaker 4: or not Donald Trump's tax cuts will be made permanent.
Speaker 4: So I suppose those things might cause some market on stability.
Speaker 3: For sure, because somebody is going to win these arguments.
Speaker 3: Right now, we're just in the shouting. We're maybe we're
Speaker 3: starting to exit the shouting stage and move toward the Okay,
Speaker 3: what are we actually going to do here? And the
Speaker 3: various parties are going to gain something as well as
Speaker 3: lose something. That's the only way these things ever get resolved.
Speaker 3: But we're going to have the willingness for that to
Speaker 3: actually happen again. We've seen that with UK. Apparently we're
Speaker 3: going to get it with China here at least for
Speaker 3: the next ninety days. And it does appear that all
Speaker 3: these tariffs and things are more of a negotiating tactic
Speaker 3: than an intended, real, permanent type of a situation. Which
Speaker 3: if that's the case, then so be it, and I
Speaker 3: hope we'll come through this a little bit stronger, but
Speaker 3: a little more bumpiness to come for in the short
Speaker 3: run for sure.
Speaker 4: Indeed, well we'll find out about well something that may
Speaker 4: impact your financial world. Your student loan is now doe,
Speaker 4: and there may be a housing market correction come in
Speaker 4: our direction a little bit, a couple more with Brian
Speaker 4: James after this word for Gate of Heaven Cemetery of Montgomery. Yeah,
Speaker 4: everyone needs a place to chill out and unwind and
Speaker 4: maybe get into a meditative state and relieve themselves from
Speaker 4: the pressures of the world, a place to pray, a
Speaker 4: place to reflect. That's a Gate of Heaven Cemetery, Montgomery.
Speaker 4: It is absolutely epic beautiful, especially this time of year
Speaker 4: with the flowers coming up, the mature trees, perfect landscaping,
Speaker 4: the winding roads, the pathways, the striking monuments and shrines,
Speaker 4: and it just looks beautiful. It's just a real trankful atmosphere,
Speaker 4: which is great for those moments of reflection. So find
Speaker 4: comfort and peace in the cemetery's quiet reverend surroundings. They're
Speaker 4: open to everyone, so to think of it from a
Speaker 4: non denominational standpoint, everyone can enjoy the beauty of gay
Speaker 4: to Heaven Cemetery administering to the Tristate for more than
Speaker 4: seventy seven years, an honoring life on sacred ground. Learn
Speaker 4: more online go to gateof Heaven dot org. Fifty five.
Speaker 4: The talk station the Simply Money Minute is sponsored by
Speaker 4: Emory Fel. Here's your weather from Channel nine. Cloudy days,
Speaker 4: scattered showers of storms in a high have seventy two
Speaker 4: down to fifty two overnight with isolated showers, possible clouds
Speaker 4: with scattered storms tomorrow seventy three. Overnight lowis sixty with
Speaker 4: a slight chance of grain and also chanceering on Wednesday.
Speaker 4: Otherwise partly cloudy in high seventy seven sixty six. Right now,
Speaker 4: time for a traffic update.
Speaker 1: Chuck from the UCUP Traffic Center.
Speaker 2: You See Health has expert traumacare focusing on prevention, treating injuries,
Speaker 2: and supporting long term recovery and rehabilitation.
Speaker 4: Learn more at ucehelp dot com.
Speaker 2: North Pound seventy five clearing out through the cut, but
Speaker 2: heavy approaching an accident down near seventy four right Wane's block.
Speaker 2: South pend seventy five. Federatal Walkland continues slow from just
Speaker 2: below seventy four to the bridge from problems earlier. Chuck
Speaker 2: Ingram on fifty five KR see the talk station.
Speaker 4: It's a twenty nine fiftybout kercity talk station right house
Speaker 4: here with Brian James. One more segment doing money Monday.
Speaker 4: All right, real quick, I guess the writings on the wall.
Speaker 4: Student loans are due. You knew they were going to
Speaker 4: be due at some point when you signed on the
Speaker 4: bottom line and promise to pay them back. But some
Speaker 4: people think they were going to get a free pass things.
Speaker 4: So to the Biden administrations ever to buy votes. Never
Speaker 4: understood how this was so popular. I mean, majority of
Speaker 4: people in America do not have college degrees, yet it
Speaker 4: was on their shoulders. College degrees were going to be forgiven.
Speaker 4: This is kind of calmon as a cost of the
Speaker 4: American taxpayer, which just never seemed quite fair to me. Brian, Hey,
Speaker 4: you may have got a degree and allows you one.
Speaker 4: It didn't provide a return on investment, but you did it,
Speaker 4: eyes wide open and time to pay the piper.
Speaker 1: Yeah, it's coming around.
Speaker 3: So there's five million borrows out there whose loans are
Speaker 3: in default, and about two hundred thousand of them are
Speaker 3: going to start receiving notices from the Treasury Department notifying
Speaker 3: them that benefits and tax refunds are going to be
Speaker 3: withheld pretty soon, starting in the next month. So we're
Speaker 3: just getting to the point where, remember it was almost
Speaker 3: two years ago that the Supreme Court struck down Biden's
Speaker 3: idea that we were going to wipe away student loans.
Speaker 3: I did have a lot of clients I shouldn't say
Speaker 3: a lot of it, enough that I remember talking about
Speaker 3: it who were helping their kids with student loans, or
Speaker 3: perhaps had student loans themselves, only just recently with maybe
Speaker 3: this year or Q four last year, who kind of
Speaker 3: gave up on the notion that this was ever going
Speaker 3: to come around. So people were still kind of hanging
Speaker 3: on to even though the Supreme Court shot it down.
Speaker 3: Maybe politically, somebody else is going to come forward with
Speaker 3: a solution. Well, we are at the We're about as
Speaker 3: far away from that as we can be. The people
Speaker 3: who are hearing today are the ones who are getting
Speaker 3: payments from the federal government for various reasons, federal benefits,
Speaker 3: tax refunds, of course, and if they are federal employees themselves.
Speaker 3: Some of that is going to start being withheld starting
Speaker 3: next month to make student debt repayment a big priority
Speaker 3: for the Trump administration.
Speaker 4: In a form of what wage garnishments correct, Oh.
Speaker 3: Yeah, lots of way you have the wage garnishments, or
Speaker 3: if you are on another federal benefit pension some people are,
Speaker 3: believe it or not, some people have student loans and
Speaker 3: are also on a federal pension. They've let them roll
Speaker 3: for years and years and years. If you're getting payments
Speaker 3: from the Fed government and you're in default or near
Speaker 3: default on your student loans, you can rest assured they're
Speaker 3: going to make that connection. That's part of what DOJE
Speaker 3: has been doing, trying to connect to the entities that
Speaker 3: pay that send outgoing payments to people with the other
Speaker 3: entities that are receiving payments from those people. If you're
Speaker 3: on both of those lists, then they're going to kind
Speaker 3: of net out the math and say you owe us this,
Speaker 3: so we're not going to give you that payment.
Speaker 4: Well, and I hope ultimately this mess results in some
Speaker 4: changes at universities and that they have some somewhat of
Speaker 4: a fiduciary allegation to sit young people down before they
Speaker 4: engage and embark on this borrowing, to point out the
Speaker 4: value on the real market of what that particular subject
Speaker 4: matter they plan on majoring in has I mean, is
Speaker 4: there a job before an art major? Are you planning
Speaker 4: on going into debt one hundred and fifty thousand dollars
Speaker 4: to get an art degree? I don't want to pick
Speaker 4: on that particular degree, but I don't imagine in the world,
Speaker 4: and I always use Southey's as an example, there are
Speaker 4: only so many jobs available at the at Southeast and
Speaker 4: where are you going to work? A lot of people
Speaker 4: work for free is docents in museums. They don't get
Speaker 4: paid for it, So then the university have some sort
Speaker 4: of obligation to point that out up front.
Speaker 1: Yeah, and you would hope, but I don't think they do.
Speaker 1: And I think back too.
Speaker 3: So I went to a high university out in Athens,
Speaker 3: and when I was finishing up, they were building what's
Speaker 3: called the Ping Center, which is a nice student building
Speaker 3: where you can exercise and all kinds of stuff, and
Speaker 3: early on, I think before it even opened, they started
Speaker 3: hitting everybody with a search charge on your tuition because
Speaker 3: somebody had to pay for this. It wasn't going to
Speaker 3: open until after my wife and I graduated, but we
Speaker 3: were paying for it and I remember there being articles
Speaker 3: in the local paper about the fight that OU and
Speaker 3: every other school has to be in to attract students.
Speaker 3: They have to be able to say we have cooler
Speaker 3: facilities than these other places. Good, bad, are indifferent. People
Speaker 3: will pay for it, And that's what universities have done
Speaker 3: for twenty and thirty years and longer than that. In
Speaker 3: one of those articles was a story about one of
Speaker 3: these schools that had a giant student hot tub, which
Speaker 3: just sounded like the most disgusting things. An college student
Speaker 3: was grossed out by that. Yeah, but that was touted,
Speaker 3: as you know, as an attraction. That's the environment that
Speaker 3: we've been in for a long time.
Speaker 4: It is. But I would think that them advertising their
Speaker 4: success in getting people employed at graduation would be the
Speaker 4: biggest dangling carritive incentive to go to any given university.
Speaker 4: Pivoting over market correction for housing? Is this a positive
Speaker 4: market correction?
Speaker 1: Oh well, we'll see. So this is coming out of Texas.
Speaker 3: Texas is a little bit of a microcosm here undergoing
Speaker 3: a significant correction, oversupplied, declining demand, and affordability issues listings.
Speaker 3: Housing listings reached one hundred and twenty three thousand last April,
Speaker 3: which is fifty three percent higher than normal. It's the
Speaker 3: fourth most oversupplied housing market in the US. And I
Speaker 3: remember I have a lot of people friends of mine
Speaker 3: who ended up moving to Dallas for job purposes. There
Speaker 3: was a ton of jobs out there because that's just
Speaker 3: you know, the better tax situation and also the idea
Speaker 3: that there is so much land down there it doesn't
Speaker 3: cost much to just build a new neighborhood. Nobody, none
Speaker 3: of these folks I'm thinking over the past fifteen twenty years,
Speaker 3: none of these folks were buying used well the old
Speaker 3: existing houses. They were all building because it was just
Speaker 3: so cheap because there is so much land and so
Speaker 3: much space to build out there. Well, Texas leaned into that.
Speaker 3: Now we have an oversupply, so they're expecting the impact
Speaker 3: is going to be potential four percent drops statewide in
Speaker 3: the value of houses I'm looking for. Affordability challenges are
Speaker 3: going to last throughout twenty twenty five, and it's still
Speaker 3: going to be about overvalued by about ten twelve percent
Speaker 3: by the end of the year.
Speaker 4: Well, at least it's getting closer to the realm of affordability.
Speaker 4: For notably the first time buyers, I would argue, but
Speaker 4: I think interest rates are going to have to drop
Speaker 4: before some of these houses become really within the grasp
Speaker 4: of financial reality for a lot of people. And if
Speaker 4: that happens, of course the market could flip then, couldn't it.
Speaker 1: Yeah?
Speaker 3: Absolutely, and then it could turn pretty quickly because that
Speaker 3: the forces that drove this migration to Texas. Remember a
Speaker 3: few years ago, it didn't matter where we live. We
Speaker 3: all got the idea, I can live wherever I want.
Speaker 3: Some people said, the heck with it. I don't want
Speaker 3: winter and I don't want taxis.
Speaker 1: I'll just go to Texas.
Speaker 3: And that created a boom, and the builders overran the
Speaker 3: boom and just kept building, building building until the actual
Speaker 3: demand stop.
Speaker 4: Demand stop when people realize when they moved there, damn
Speaker 4: it's hot here, it's really really Or why did I
Speaker 4: move to Houston? It's like walking through of hot water
Speaker 4: in the summertime. Brian James always financial. Appreciate them loarding
Speaker 4: you out every Monday for Monday Monday. I look forward
Speaker 4: to next Monday, another edition. I hope you have a
Speaker 4: wonderful week, my friend, have a good week.
Speaker 1: Talk to you next week.
Speaker 4: Thanks man. Coming out next empower you. Doing the last
Speaker 4: seminar of the year with doctor Robert Malone. Injuries from
Speaker 4: the COVID vaccine. More more information coming out almost every
Speaker 4: single day on that frightening reality. We'll get to doctor
Speaker 4: Malone give us a little insight to what he's going
Speaker 4: to be talking about next. After I mentioned well, Peter
Speaker 4: Shabria Kellor Wins seven Hills, the only real estate team
Speaker 4: I'd ever consider calling, got the number memorized five one
Speaker 4: three seven zero eight three thousand, Peter. I need a
Speaker 4: real estate agent. What a buyer's agent or seller's agent,
Speaker 4: either one. They're the only place I would turn to.
Speaker 4: Trice State's number one group. Their mission is to give
Speaker 4: you a five star experience. Take them up on the
Speaker 4: cash offer. You want to sell a house, and you
Speaker 4: don't want to stage it, or change it, or paint it,
Speaker 4: or invest any money seeking maximize the return. You just
Speaker 4: want to get out. I got a job waiting for me,
Speaker 4: don't want to go through it. They'll have a cash
Speaker 4: offer waiting for you within forty eight hours and them
Speaker 4: seeing your home close within three weeks. And they have
Speaker 4: one of my favorite ones these days. They got multiple programs,
Speaker 4: The Patriot Home program developed Bive Veterans to help patriots
Speaker 4: buy and sell their homes, veterans, members of the VA staff, there,
Speaker 4: police fire ems. Ten percent of the commission given back
Speaker 4: to you as a rebate at closing, just because you're
Speaker 4: awesome people and helping serve the country and your community.
Speaker 4: So take advantage of that. You want to learn about
Speaker 4: all the programs and what they can do for you,
Speaker 4: that five star experience seven zero eight three thousand dot
Speaker 4: com seven zero eight three thousand dot com. Call them
Speaker 4: up and tell them. Brian said, Hi, when you do,
Speaker 4: it's five one three seven zero eight three thousand.
Speaker 3: This is fifty five KRC an iHeartRadio station, a neighbor
Speaker 3: oh Mi