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Speaker 1: So President Trump and the economy apparently were to believe

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he's on an island all by himself. CNN telling us

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S and P down to the worst start since well

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it was created in nineteen fifty seven, fourteen percent under

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parr President Trump to blame Americans are going to blame him.

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So what's behind this? And how are we to think

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about this? How about if I, hey, you know what,

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let's let's call Zach. Let's yeah, that's what we'll do.

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We'll call Zach Abraham and have him come on and

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explain the whole thing. Praise God, thank you Lord for

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wise counsel.

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Speaker 2: But Todd Herman show is one disapproved by big pharma,

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technocurrats and tyrants everywhere from the highd mountains of Free America.

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Here's the Emerald City exile Tod under her moon.

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Speaker 1: Today is today the Lord has made in These are

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the times to which God has decided we shall live.

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Zach Abraham joins us, this is what CNN said. Zach

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watched this with me, and then let's figure out the

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truth and I'll just take a break, walk off set.

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Let you do the rest of the show, since it's

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very much your realm. Roll the CNN.

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Speaker 3: When the numbers, simply put, weren't anywhere near this. The

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stock market is a reflection of the economic state we're in.

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The chance of a recession is another reflection of the

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stated economy that we are in. The bottom line is

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that Trump's tariff wars have taken what was a pretty

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gosh dawn good economy and turn into a very uncertain economy,

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one in which the stock market has fallen, and one

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in which the chance of a recession has gone up considerably.

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Speaker 4: K palwock.

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Speaker 1: If there is a recession, how much blame is Donald

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Trump likely to face?

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Speaker 3: The majority of the American public says that the buck

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will stop at the White House stop at sixteen hundred

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Pennsylvania Avenue, and Donald Trump will not in fact be

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able to take blame.

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Speaker 1: All right, that's what they say. So let me just

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stretch the heavies out for a nap. Ladies and gentlemen, Sack.

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Speaker 4: Abram look so, first of all, uh to observations right

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out of the gate. This is why I cannot stand

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the mainstream media or seeing it in particular, and this

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is why I despise the vast majority of financial news because,

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like I've took. So it's always been odd to me

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because when you're talking about financial news and I've done

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this for a while, you know how to show for

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almost a decade now and talk about it on a

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daily basis, and uh, the approach I've always taken to

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it is you're talking about investments, You're talking about somebody's

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you know, future, Whether you're giving direct advice or not.

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People listening to you are going to be influenced by

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what you say. And so we've been a real big stickler.

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And I know you are too, and I know I'll understand,

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but there's that part of you that is afraid to

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say something wrong, and you're always open to the idea

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you've been wrong because you know that everything you say

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is permanently on record and it's on the internet and

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it could influence people. And so when you get something wrong,

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you come back and you tell people, hey, we screwed

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this up. And it's inevitable in the world of finance.

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You're gonna invert some numbers here and there, and you know.

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But for some reason, one of the things that surprised

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me the most is I started a radio show, was

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then going back and listening to other people talk and

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being amazed that. I'm like, Okay, maybe you're not intending

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to mislead people, but what you just said is ridiculous.

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It's patently false. It's misleading, and if you had done

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even the most minimal amount of work, you would have

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seen it. And that's exactly what that CNN headline is about. Okay. So,

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first of all, the SMP isn't down fourteen percent year

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to date, it's down eight. Okay. Second, of all, the

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SMP on about eight out of ten different valuation metrics,

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and on probably the most important valuation metrics, was the

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most overvalued it's ever been in history, and a good

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chunk of that overvaluation occurred at the end of last

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year because Trump got elected, right, So so okay, so

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when they say down fourteen percent, they mean from the

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high from the year. Okay. The other thing is, if

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we look back at one hundred years of market history,

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on average, you will see one ten to twelve percent

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pullback per year. We're down eight. So it's misleading. It's

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Trump that it's just nonsense. The other thing is, you know,

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we were talking about a rotation and assets and saying

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that we didn't want to be loaded up in US

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stocks going into this year. I mean, I remember you

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and I discussing it, and we were saying that, look,

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US is overpriced. We think they are going to be

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happening on the international I think you're going to see

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an asset rotation get in gold. A lot of these

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things were really were very obvious for a lot of

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different reasons. And the other thing I think is just

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incredible is Trump was a horrible human being that had

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no sympathy for working people when he referenced the stock

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market as proof that his policies were winning. And now

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that the stock market's down eight percent in the first quarter, okay,

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you're still trading. If we look at the stock markets

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valuation currently, you're still about fifty percent over the long

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term valuation average. Okay, So look, what's happening in the

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market happens when you purchase stocks too expensive. Period, It

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doesn't it doesn't matter if Pinocchio's president, right, Don't buy

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stocks that are too expensive, especially ridiculous companies that aren't

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trading anywhere near or that aren't you know, hey, don't

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buy a company that's doing three point eight billion in

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revenue a year for a two hundred and thirty billion

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dollar market cap. Okay, and if you'll lose money betting

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on that company, it's not Donald Trump's fault, well said.

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Speaker 1: All right, So let's get into now some of the

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things the moves the president is making, particularly JD. Vance,

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who is clearly out building a foreign policy portfolio so

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he can run for presidents and hopefully carry on much

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what President Trump's doing. We'll get to this in just

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a second. You are going to be my testimony for

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a second here, and I just I don't mean to

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draw you into this, but we weren't yet recording the show,

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and we were visiting as brothers, and you asked me,

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how are you feeling after Mexico? No one watching, no

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one observing. Did I strike you as questioning? Or did

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I strike you as I mean? How did I strike

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you in terms of how I'm feeling post renew.

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Speaker 4: My wife is currently buying tickets for us. Now that's

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the best insert for yeah, yeah, all right that I

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mean that in the golf, right, I know there's the

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golf guys.

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Speaker 1: Let me tell you that people are policy. And I've

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talked so much about people having their arthritis cured, Zach,

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you and I know someone in common with this about

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people hemispherically paralyzed, now walking, about people who couldn't do

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their jobs as painters now painting. We've talked about people

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with neurological issues there at the end of life, and

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we're looking at doubling their lifespan. All of this with

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stem cells from placentas, impart me from umbilical cords, and

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in my case, they've never touched the MR and A injections.

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But people are policy. I had to be sedated for

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all of a half an hour to have my lower

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lumbar region injected, and pro golfers get this stuff done

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all the time. Fred Funk was down there, I interviewed him.

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We've got to run that interview about his back, and

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then they ended up saving his life because he was

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about to have a massive heart attack. So they did

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that to my back. When I went in, the managing partner,

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his partner, and one of the key guys that renew

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went with me, and Hector is a translator in addition

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to many other things. When I woke up, here's the

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top guy, the money guy, here's his partner, there's Hector.

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Within five minutes of me waking up, and I was

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embarrassed and said, guys like I hate to be high

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maintenance and kid glove and you know, I know we're friends.

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And Steve says, no, no, no, no, Todd, this is

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what we do. It's not always all three of us,

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but when it can be, it is. People are policy.

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Their policy is to see you through this treatment. A

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lot of people are very freaked out about having treatment

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in Mexico. I was freaked out about being sedated in Mexico.

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It went better than I've ever had in the United

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States of America, honestly, better. Honestly. Then I learned that

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the guy who actually did my sedation was Hector's dad.

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That was cool and somehow that melted me feel better. Guys,

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these people care. They're in this for the right reason. Yes,

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they are making money. They want to help you. They

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want to help you avoid surgery. I want to help

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you heal in ways your insurance company refuses to do so,

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call them, or rather go to the website renew r

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e n ue dot healthcare. They will tell you after

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the analyzer case how much it will cost you. They

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will tell you after the analyzer case what the percentage

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chance of success is. They will tell you what they've

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seen with other people with your condition, and if you

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cannot afford it now, you're not going to laugh at you.

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They're going to say, hey, we get it. This stuff

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can be expensive. It's renew R E, n U E

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DOT healthcare, but it might be a lot less expensive

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than you think. So zach Jitdivance is out building his portfolio.

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Let's watch him as he makes an announcement about what's

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India and the United States are doing in terms of

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finalizing some trade negotiations, some deal reference points.

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Speaker 5: Let's roll that you aware both of our governments are

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hard at work on a trade agreement built on shared

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priorities like creating new jobs, building durable supply chains, and

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achieving prosperity for our workers. In our meeting yesterday, Prime

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Minister Mody and I made very good progress on all

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of those points, and we were especially excited to formally

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announce that America and India have officially finalized the terms

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of reference.

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Speaker 6: For the trade negotiation. I think this is a vital step.

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I believe this is a vital step toward realizing President

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Trump's and Prime Minister Moody's vision because it sets a

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roadmap toward a final deal between our nations.

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Speaker 1: So if you're looking at this, I mean it's basically

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he's saying, hey, we've reached reference points. He's celebrating this,

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we're near a deal. And obviously India's okay with him

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saying this. This is obviously to get this in the

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news cycle. But if you look at the economic forecast

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India one point four billion people, three for trillion dollar economy,

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one hundred and thirty to one hundred and eighty billion

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in US exports, five hundred thousand to one million new jobs,

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and from one to two billion dollars in agriculture, ten

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to twenty billion in defense. And this now coming into

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our land, into our world, and a partnership with these

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guys and an ability to have actual free trade, not

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the China model. I don't know finance like you do,

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but to me, that's big.

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Speaker 4: It is really big. And this goes to another one

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we heard recently is Apple is looking at opening a

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Brazilian manufacturing outlet to put to assemble iPhones, right and China. Yeah,

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and here's the important part about that. We need we

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need better partnerships, specifically in the Americas, because in the

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Americas it gives us the ability to do something that

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we otherwise couldn't, which is technically we can have production offshore,

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right because it's it's in other locales that you can

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benefit from cheaper labor and things like that. But we're

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also tied via land. So there's you know, you don't

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have a you don't have an ocean separate, you know

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what I mean, you don't have an ocean separating And

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and on top of that, you have companies or you're

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dealing with countries you have significantly more leverage with not

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that we're going to use them to generate deleterious impacts,

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you know, for their economy, but bottom line, when you

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have that type of trade arrangement, it is much easier

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to make sure that everybody is upholding their end of

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the bargain. When when one country is you know, significantly

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more powerful than the other, you know what i mean,

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especially from especially from our point of view. The the

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other thing is that we'd have far more influence. First

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of all, it'd be great for Brazilian people, right, it'd

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be a wonder And then also because you're not dealing

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with a totalitarian state and you also have more influence

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on them, as as that as it lifts more people

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out of poverty in Brazil, those people are going to

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buy things from US like iPhones, right, So they're not

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gonna be buying waldweve phones, I mean for the most.

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Speaker 1: And they're going to be lesson clients to sneak across

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our border.

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Speaker 4: Yet right, and you're gonna have And then you look

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at India right there too, I mean India. You look,

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if you're looking for this city, now you're gonna need India.

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The difference is is China made massive infrastructure investments which

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enabled that, and I don't think people really understand the

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size and scope of it. Meaning a business, I was

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a CFO for a manufacturing company that built oil tankers, right,

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which is you know trailers that sie haul a hall crewed, right.

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And we opened up a manufacturing facility in China. And

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what people don't realize is you've got brand new manufacturing

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facilities that are effectively like in bubble wrap, or at

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least it was at the time where it's like, hey,

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we need we need to produce something. They're like, great,

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We've got this huge manufacturing floor that nobody's using. Want

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to use it? You know, You're like yeah, right, great,

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So you're gonna have to get some You're gonna have

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to get some domestic investment. But when you look at

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the biggest thing when you look at India is do

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you have do you have the land, you have the

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geography that can facilitate these things? Yes, India is huge.

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Do you have the people? Absolutely biggest country in the

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world and actually bigger in population than China. A lot

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of a lot of the new data suggests that China

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probably isn't even over a billion people that they've been

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overstating the counts India is. And India is a much

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poorer country. So you're gonna have lower right, which is A.

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It means it's going to be, you know, exponentially beneficial

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to them, but B it's also we're able to develop

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a very good trading relationship with a friendly country. Right,

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It's going to benefit them massively and give us the same,

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if not better labor advantages than we had in China.

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Speaker 2: Yep.

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Speaker 1: And we're also going to put pressure on China because

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China is not all that happy with India. They're not

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super super friendly, right, right, And so now you can

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have economic pressure in China, and what are we doing

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we're setting up this thing with China. Well, I mean,

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I guess you don't. Okay, so maybe the tariff thing

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didn't work. And Prisident Trump comes back on that and

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they have Apple saying, yeah, you know, we're gonna start

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building some of her phones down in Brazil and doing

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some things in India. And now she has to look

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at this, going wait a minute, So now the United

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States is going to be exporting food to India. They're

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going to be exporting weapons to India. Okay, well, now

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that's one of our you know, basically neighbors, and they're

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going to be making these things, and all of a

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sudden you start to see this leakage. And because China's

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been operating on us, Hey, what else are you gonna do?

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Where else are you gonna go? And I remember a

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certain company located in Redmond, Washington who said about mobile phones,

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worlds are people going to go? I mean, yeah, the

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iPhones for consumers. You know, no one's going to be

285
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using an iPhone for business worlds are they going to go?

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They have to use the Windows kernel. And I remember

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sitting there going and I heard that phrase. Have to

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is like have to So now right, now the dictator

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of China has these pressures. And if we do lift

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India up, then we also now have pressure on Pakistan

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and all of a sudden, now that region has a partner.

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And I know this was the big theory with China,

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but forget people, forget something about China. It's a Maoist,

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committed Maoist, leftist, satanic thing. I don't think that they're

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going to turn into Christians in Indian In fact, there's

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diligient to Christians, but it's at least not MAOIs. They're

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a meritocracy to a terrible degree because they've still got

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the cast system, but at least they have some kind

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of meritocracy in the business. Plus, all these Indian people

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have been brought here to work at lower wages, and

301
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what are this deal points should be? They go home

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like the people that have been brought here to work

303
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at sub wages under the special visas. Send them home,

304
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go here. Let's have Americans do this jobs here. There's

305
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so much to this.

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Speaker 4: Yeah, and and culturally speaking to I mean, it's it's

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something that I've paid a bigger attention or paid more

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attention to. Is I've you know, gotten older and more

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experienced and hopefully more wives. But the cultural matchup is

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really important too. And I would not profess to know

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the Indian culture inside and out, but what I do

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know is that it is decidedly pro West. There is

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no right, there is no cultural schism right there where

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were you like, look, you know, and I'm telling you nothing,

315
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you nothing, you don't know. But but even when the

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relationships were the best with China, there were still tensions,

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and there were still tensions because of cultural differences, and

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and then government differences too, right, I mean, they never

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under Dang Zhao paying it was better, but they never

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disavowed communism in any way, shape or form. And then

321
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and you look at India, that's just not you know,

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that's just not their thing. And so yeah, I think

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I think it makes all the sense in the world

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that I've often thought, Look that that should be the

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next China, right like, and and maybe it'll take a

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little bit more direct investment on our part, where where

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the Chinese government and the CCP was responsible for the

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mass build up of the majority of that infrastructure, maybe

329
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we need to invest a little bit. But again, let's

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say we throw at you know, let's say over the

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course of the next five years, the United States throws in,

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you know, you know, three quarters of a trillion, a

333
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trillion dollars to help build out infrastructure, just on a

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just on a national security basis, you can justify that

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investment right then you could look at tach you know,

336
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there's so many different ways you can make that investment

337
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back so quickly. But it's also, like I said, it's

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also a national security issue. And you know, usually when

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you've got an offshore out of a place like China,

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you're looking at permanently higher fixed costs you transition into.

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And that doesn't necessarily have to be the case.

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Speaker 2: Yep.

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Speaker 1: So yeah, I love to deal it all the way around,

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particularly because it gives us now a lot more options

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to China. In poker, like when you're playing Texas holding

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and you talk about possible outs. You know, as you're

347
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holding your your pocket cards and you're looking at your

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two cards and everything else is on the table, everybody

349
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sees the same cards, and so you're trying to imagine

350
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what is this guy looking for as an out? You know, hey,

351
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can I make a straight out of this? Can I

352
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make a flush? Can I make three of a kind?

353
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And the more outs you have, the more likely you

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are to win out. And we didn't have a lot

355
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of outs with China. Now we've got Brazil, we've got India,

356
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We're building some other countries into this. We've got Nvidia

357
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coming over here, because you know, they're not that wild

358
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about just being party to being taken over by China

359
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and bombed by the way, just by fact of where

360
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they're located. So love that. There's more to talk about,

361
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including a plan to pay people for having fruitful sex.

362
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Oh put it that way. Something so bizarre has started

363
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to happen. You said this. Last time you saw me

364
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before recording, you said, dude, you look lean. And then

365
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I was in Mexico and some people noticed me in

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a restaurant and they were down there. They were listeners,

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00:20:16,599 --> 00:20:19,319
viewers of the cast as in this restaurant. This lady says,

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are you Todd? I said, yeah, I'm Todd. Oh my gosh.

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We saw you in the lobby at renew Healthcare and

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we didn't think it was you. And the gentleman said yeah.

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I told my wife, oh, no, he's too big. Todd's

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smarter than that. And I saw a friend of mine

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the other day I haven't seen at church, and he

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walked to me and goes, dude, like, you're yoked. What's

375
00:20:40,160 --> 00:20:41,880
going on? You're jacked. I'm like, what's going You know

376
00:20:41,920 --> 00:20:45,400
what it is? This is since I began using mass simes,

377
00:20:46,160 --> 00:20:49,079
and I got serious about this because the people Bioptimizers

378
00:20:49,119 --> 00:20:50,920
wanted me to talk about it, and I'd kind of

379
00:20:50,960 --> 00:20:54,359
dabbled in it. So I invested and I subscribed. I

380
00:20:54,440 --> 00:20:56,599
paid for the bioptimizer stuff I get. By the way,

381
00:20:56,640 --> 00:20:58,000
they don't send it to me for free. I mean

382
00:20:58,000 --> 00:20:59,519
they send me some samples for free. I want to

383
00:20:59,519 --> 00:21:02,680
be accurate, but I subscribe to this stuff. And when

384
00:21:02,680 --> 00:21:06,079
I started doing mass symes of two three times a day,

385
00:21:06,640 --> 00:21:09,359
I started to get these compliments, which makes sense because

386
00:21:09,400 --> 00:21:12,400
I eat three hundred and sixty grams of protein every day,

387
00:21:12,480 --> 00:21:14,839
and so how much of that is turning into amino acids?

388
00:21:15,599 --> 00:21:20,000
Not all of it? With mass symes. A side by

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00:21:20,039 --> 00:21:23,200
side study showed that you increase the amino acids in

390
00:21:23,240 --> 00:21:27,640
your body by sixteen hundred percent when you use mass simes.

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So here I am chunked down all this protein and

392
00:21:30,039 --> 00:21:31,599
no one was coming up to me seeing you look

393
00:21:31,640 --> 00:21:35,960
super lean. Six months into mass symes. I'm constantly being

394
00:21:35,960 --> 00:21:38,640
told this, and I don't do this to look good.

395
00:21:38,720 --> 00:21:40,319
I do this because I want to be functional and

396
00:21:40,319 --> 00:21:43,119
good at CrossFit. So there's your little focus group of

397
00:21:43,119 --> 00:21:45,240
one and some data. If you want to put on

398
00:21:45,359 --> 00:21:48,039
muscle or hold onto the muscle you have and understand

399
00:21:48,119 --> 00:21:51,279
that body composition is a huge part of metabolic health

400
00:21:51,319 --> 00:21:55,079
and structural health, then go to Biptomizers dot com, slash todd,

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405
00:22:08,640 --> 00:22:12,200
com slash todd promo code todd. So here is an

406
00:22:12,240 --> 00:22:16,839
announcement President Trump is doing and this is through the

407
00:22:16,880 --> 00:22:19,400
mouth of Elon Musk. It has and by the way,

408
00:22:19,440 --> 00:22:21,279
he's a guy to talk to you about this, because

409
00:22:21,319 --> 00:22:25,599
Elon is irresponsibly gone out and done this thing. Five

410
00:22:26,000 --> 00:22:27,400
bucks for a baby bonus.

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Speaker 7: Well, there's a lot of things I suppose that I'll

412
00:22:29,799 --> 00:22:33,279
worry about, and some of these things will seem esoteric

413
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to people. You know, the birth rate is very low

414
00:22:37,960 --> 00:22:43,519
in almost every country, and something Unless that changes, civilization

415
00:22:43,519 --> 00:22:46,519
will disappear. America had the lowest birth rate I believe

416
00:22:46,519 --> 00:22:50,160
ever that was last year. Places like Korea the birth

417
00:22:50,240 --> 00:22:54,000
rate is one third replacement rate. That means in three generations,

418
00:22:54,079 --> 00:22:56,079
career will be three or four percent of its current size.

419
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And nothing seems to be turning that Aroundity is dying

420
00:23:03,680 --> 00:23:06,480
and people it's it's just not something we evolved to.

421
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Speaker 2: React to.

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Speaker 7: And I mean I worried generally about the the strength

423
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of America. You know, America is the central column that

424
00:23:22,319 --> 00:23:27,960
holds up holds up all the Western civilization. So if

425
00:23:28,000 --> 00:23:31,480
you like, if you've got the example of Western civilization,

426
00:23:31,759 --> 00:23:34,559
America is the central column. If that column fails, it's

427
00:23:34,559 --> 00:23:37,720
all over. You can't run off to New Zealand or

428
00:23:38,000 --> 00:23:42,079
some other places. It's over. So either we strengthen that

429
00:23:42,119 --> 00:23:45,759
column and make sure America is is strong and will

430
00:23:45,799 --> 00:23:49,160
be strong for a long time, or what that roof's

431
00:23:49,200 --> 00:23:49,640
coming down.

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Speaker 1: So I'm sorry, is your wife Colin? I thought I'm sorry?

433
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I thought I heard the phone ringing, No.

434
00:24:00,519 --> 00:24:04,519
Speaker 4: We will we. First of all, we're in the middle

435
00:24:04,559 --> 00:24:07,839
of two Little League seasons, so five thousand dollars ain't

436
00:24:08,000 --> 00:24:08,839
that ain't getting cut?

437
00:24:08,839 --> 00:24:08,880
Speaker 2: It.

438
00:24:09,640 --> 00:24:12,039
Speaker 4: You know that you gotta throw some ceru's on there.

439
00:24:12,440 --> 00:24:15,119
That is, anybody that's paying for kids in this environment

440
00:24:15,160 --> 00:24:18,839
realized that's not that's not a great advantage. You know what.

441
00:24:20,079 --> 00:24:22,559
I'm a little indifferent on it. First of all, I

442
00:24:22,559 --> 00:24:25,119
don't think it really changes the calculus. I don't think

443
00:24:25,160 --> 00:24:27,039
it's a bad thing to do. I think that we

444
00:24:27,039 --> 00:24:28,920
should live in a culture, and we should have a

445
00:24:28,920 --> 00:24:33,759
government that supports and you know, pro creation, yeah, and

446
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and and and reproduction, and at least to a rate

447
00:24:37,279 --> 00:24:41,480
where we can replace our our citizenry. I also think

448
00:24:41,519 --> 00:24:44,880
it's an important thing too, because you know, you know, look,

449
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the United States has always been a nation of immigrants,

450
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but I think it's really important that the vast majority

451
00:24:51,599 --> 00:24:57,839
of our citizens are born here. Meaning nothing like I

452
00:24:58,160 --> 00:24:59,680
realized when you say that, boy, that comes out of

453
00:24:59,720 --> 00:25:01,559
my mouth, I'm like, boy, that that kind of sounds

454
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you know, ethnocentric or xenophobic or something like that. And

455
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I don't. I don't mean that. I mean I mean

456
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for the preservation of the culture. And by preservation of

457
00:25:10,680 --> 00:25:13,200
the culture, I don't mean the government the way it

458
00:25:13,240 --> 00:25:15,799
is or anything like that. I mean the American spirit, right,

459
00:25:16,240 --> 00:25:21,759
the unique thing that I was talking to one of

460
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my friends recently who does not live here, lives overseas,

461
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and he was going on and on and on about

462
00:25:29,200 --> 00:25:31,759
how he cannot stand how America gets a bad rap,

463
00:25:31,799 --> 00:25:34,160
how he loves being here, that when he's here he

464
00:25:34,200 --> 00:25:36,119
can feel he just he goes. You can feel the energy,

465
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you can feel the creativity. He goes. It's not like

466
00:25:38,359 --> 00:25:40,440
any other place I've been to. And he goes. I

467
00:25:40,440 --> 00:25:42,160
love where I live, don't get me wrong, But he goes.

468
00:25:42,200 --> 00:25:44,680
I always look forward to all of my trips, especially

469
00:25:44,759 --> 00:25:47,079
work trips to the States, and he goes. There's just

470
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a different feeling in America. There's this different feeling like

471
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anything's possible and you don't know what's going to happen tomorrow,

472
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and it's exciting and right. And that's that's kind of

473
00:25:55,640 --> 00:25:59,319
that American exceptionalism that we talk about where I've always

474
00:25:59,319 --> 00:26:03,839
tied that less to outcomes and more to people's attitudes,

475
00:26:03,920 --> 00:26:07,759
right that you know, devil make care. We're going to

476
00:26:07,839 --> 00:26:12,680
take the risks we believe in and where tomorrow's right.

477
00:26:12,720 --> 00:26:15,480
It's just that it's it's a very it's a very

478
00:26:15,640 --> 00:26:20,160
it's a very American mindset, and uh, so I'm all

479
00:26:20,200 --> 00:26:25,119
about the supporting of you know, pro creation here, I

480
00:26:25,200 --> 00:26:29,400
just and and and as a stop gap measure. I've

481
00:26:29,440 --> 00:26:32,599
got no problem with it. Like I said, I would

482
00:26:32,720 --> 00:26:36,799
rather look at things though, that really impact parents, right,

483
00:26:36,880 --> 00:26:39,920
that really impact the cost first of all, you know,

484
00:26:40,559 --> 00:26:42,359
and maybe that's what they mean by it, but an

485
00:26:42,400 --> 00:26:46,480
increase to the child tax credit right in a meaningful way,

486
00:26:47,319 --> 00:26:52,200
address higher education, right, retooling education the education system, which

487
00:26:52,240 --> 00:26:55,440
they've obviously started with their you know, approach to the

488
00:26:55,440 --> 00:26:58,319
Department of Education. But yeah, those are the things that

489
00:26:58,359 --> 00:26:59,880
I think are the most important. But I don't have

490
00:26:59,880 --> 00:27:03,119
a problem with the five, like any anything you do

491
00:27:03,240 --> 00:27:09,039
that incentivizes what we call family formation. It, like I said,

492
00:27:09,039 --> 00:27:13,480
it's not just a demographics issue. Family formation is extraordinarily

493
00:27:13,519 --> 00:27:18,799
beneficial for uh, the economy because people spend by far,

494
00:27:18,960 --> 00:27:22,359
the largest percentage of their income when they're raising children.

495
00:27:22,960 --> 00:27:27,440
And it also is a you know, it's it's cultural salt.

496
00:27:27,720 --> 00:27:27,920
Speaker 2: Right.

497
00:27:28,640 --> 00:27:32,519
Speaker 4: The more families you have, the better off things are,

498
00:27:32,559 --> 00:27:34,200
you know, the better off the the culture is. And

499
00:27:34,200 --> 00:27:36,440
I think everybody knows that. So I've got no problem

500
00:27:36,440 --> 00:27:39,680
incentivizing it. We've done enough to punish it and disincentivize it.

501
00:27:39,720 --> 00:27:42,839
Speaker 1: So, yeah, you said a lot. Let me respond because

502
00:27:42,839 --> 00:27:46,599
it's really interesting that you felt the need to apologize for,

503
00:27:49,000 --> 00:27:51,880
you know, wanting more people to be in our country

504
00:27:51,880 --> 00:27:54,119
who are born here. And I understand why you said that,

505
00:27:54,119 --> 00:27:57,079
because I was thinking of the phrase jinguistic, and I

506
00:27:57,079 --> 00:27:59,960
can understand it seems exclusionary are people would say, oh, you're.

507
00:28:01,599 --> 00:28:01,680
Speaker 6: So.

508
00:28:01,880 --> 00:28:04,680
Speaker 1: Let me start though by going backwards to what you

509
00:28:04,680 --> 00:28:08,680
said and go back through this. One thing about people

510
00:28:08,720 --> 00:28:10,759
having kids is it put skin in the game in

511
00:28:10,839 --> 00:28:14,799
ways that usually that the single people don't have. So

512
00:28:15,000 --> 00:28:17,920
you can see these smug and I call them smuggerls.

513
00:28:18,799 --> 00:28:20,440
That's a phrase I made up in trade marks. They

514
00:28:20,440 --> 00:28:23,079
don't even try stealing it. They are uniquely unaffected by

515
00:28:23,119 --> 00:28:26,240
the policies for which they vote. They work in laptop

516
00:28:26,319 --> 00:28:29,720
Land and Ideaville, and they take trains to work and

517
00:28:29,839 --> 00:28:31,359
never need to touch the dirty masses.

518
00:28:32,160 --> 00:28:32,400
Speaker 4: Yep.

519
00:28:32,480 --> 00:28:37,279
Speaker 1: So they get to say things like, oh, who cares

520
00:28:37,319 --> 00:28:41,480
about jobs like phishing and logging and you know, we

521
00:28:41,480 --> 00:28:43,720
should that shouldn't be done in our country and it

522
00:28:43,759 --> 00:28:46,960
doesn't affect them, And they get to say things like, oh,

523
00:28:47,000 --> 00:28:50,359
sure crime is so bad, Seattle's just dying when they

524
00:28:50,440 --> 00:28:53,960
don't ever get exposed to it. Something happens when you

525
00:28:53,960 --> 00:28:59,119
have kids. And I used to take a you know,

526
00:28:59,240 --> 00:29:01,759
I used to go downtown a lot while I was

527
00:29:01,799 --> 00:29:04,359
a young guy. Used to go down and drink a

528
00:29:04,400 --> 00:29:07,960
little bit when I still drank. And one night, I'm

529
00:29:08,039 --> 00:29:11,519
downtown and I was walking back from I've been playing

530
00:29:11,519 --> 00:29:14,119
with my band and I had my guitar and I'm

531
00:29:14,119 --> 00:29:16,799
walking back and a guy tries to corner me and

532
00:29:16,880 --> 00:29:20,200
he's big, huge man asked me if I have a smoke.

533
00:29:20,759 --> 00:29:22,960
I don't smoke. I try to get around him, and

534
00:29:23,039 --> 00:29:26,039
he kind of saddles up to me and then he's

535
00:29:26,119 --> 00:29:30,240
kind of casually walking me back into a dark area

536
00:29:31,319 --> 00:29:36,319
and I said stop, and I stepped to the side,

537
00:29:36,359 --> 00:29:39,039
got back out in the light, and he start, did

538
00:29:39,119 --> 00:29:40,759
you do the dance to? Now He's going to move

539
00:29:40,759 --> 00:29:44,240
me back into another shadowed area. I'm like, I know

540
00:29:44,319 --> 00:29:46,200
exactly what's going on. I'm not turning my back on

541
00:29:46,279 --> 00:29:48,559
the guy, because I know you're trying to mug me, right,

542
00:29:48,680 --> 00:29:51,240
you want my guitar, you want my money, to beat

543
00:29:51,279 --> 00:29:53,519
me up. So I got out of there, and I

544
00:29:53,559 --> 00:29:56,079
didn't remember how probably talk my way out of it.

545
00:29:56,160 --> 00:29:57,880
He probably realized, Okay, this is going to be a

546
00:29:57,880 --> 00:30:01,039
long dance. This is a big guy. He's not afraid.

547
00:30:01,240 --> 00:30:04,720
He's smart, he knows what I'm trying to do. You

548
00:30:04,759 --> 00:30:11,759
have kids, that changes. So you go downtown and you

549
00:30:11,839 --> 00:30:13,799
and I was down there with my daughter and there

550
00:30:13,880 --> 00:30:17,519
was a guy who was super aggressive and he came

551
00:30:17,599 --> 00:30:22,319
up to us and I pointed at him, no, no,

552
00:30:23,559 --> 00:30:29,200
get back. There was no dance, there was none of that.

553
00:30:30,279 --> 00:30:32,440
And had my daughter behind my back and I said,

554
00:30:32,440 --> 00:30:35,200
you stand behind me, but I had my hand ready

555
00:30:35,200 --> 00:30:35,759
for my carry.

556
00:30:36,559 --> 00:30:37,880
Speaker 4: Oh yeah, yeah, right.

557
00:30:37,759 --> 00:30:39,960
Speaker 1: And now that that a tough guy thing. That's a

558
00:30:40,000 --> 00:30:43,200
calculus thing. Now all of a sudden, you're looking at

559
00:30:43,240 --> 00:30:45,200
the government schools and it's not We'll just give more

560
00:30:45,240 --> 00:30:51,119
money to the schools for teaching my kids perverse ideas. Right,

561
00:30:51,640 --> 00:30:54,240
So this this is a buy into the culture. And

562
00:30:54,240 --> 00:30:58,359
then on the topic of culture, a bought in society

563
00:30:58,359 --> 00:31:03,200
of people who says, ude, my kids live here, and

564
00:31:03,440 --> 00:31:06,200
something happens as well when you become parents. I think

565
00:31:06,319 --> 00:31:09,599
that's the way God calls you, because all of a sudden,

566
00:31:09,640 --> 00:31:12,880
you've got these little lives depending on you, and all

567
00:31:12,920 --> 00:31:14,680
of a sudden you're starting to think, Wow, it'd be

568
00:31:14,759 --> 00:31:18,880
nice if I had a father in heaven. And we're

569
00:31:18,920 --> 00:31:22,319
told to be fruitful of multiply And I think, looking

570
00:31:22,359 --> 00:31:24,559
at the little the eyes of a little baby, and

571
00:31:24,599 --> 00:31:27,079
you hold that baby in hand, I don't know a person.

572
00:31:27,200 --> 00:31:29,160
And if you weren't changed the first time you held

573
00:31:29,200 --> 00:31:34,559
your first child, then your sociopath or you were drunk

574
00:31:34,640 --> 00:31:36,759
or sleepy or angry or bad.

575
00:31:37,799 --> 00:31:38,279
Speaker 2: Yeah.

576
00:31:38,319 --> 00:31:39,680
Speaker 1: So no, that's culture man.

577
00:31:40,640 --> 00:31:44,359
Speaker 4: Yeah. And it's funny because it just like you said,

578
00:31:44,400 --> 00:31:49,200
it transforms you. You know, your your priorities change, you know,

579
00:31:49,279 --> 00:31:51,799
like like, for instance, I look at myself and I

580
00:31:51,839 --> 00:31:55,680
think it's really interesting that I started Bulwark when my

581
00:31:55,759 --> 00:31:59,400
wife was pregnant with our third child. Right, it lights

582
00:31:59,400 --> 00:32:02,119
a fire on you. You you approach things differently, You

583
00:32:02,160 --> 00:32:04,359
think about the world differently, you see it differently, you

584
00:32:04,400 --> 00:32:07,839
see different threats. Yes, and and you know, a perfect

585
00:32:07,880 --> 00:32:10,240
example of what we're talking about. Little a side note,

586
00:32:10,279 --> 00:32:13,559
but you know, we had a long standing family tradition

587
00:32:14,000 --> 00:32:16,960
of going up to Seattle because it it was just

588
00:32:17,000 --> 00:32:21,119
a beautiful place in Christmas time, right Westlake Center, Right,

589
00:32:21,359 --> 00:32:23,079
it was just it was idyllic. It was like a

590
00:32:23,119 --> 00:32:27,920
Norman Rockwell painting. You know, and or no not Norman Rockwell,

591
00:32:27,920 --> 00:32:30,240
who who was the guy that paints anyway.

592
00:32:30,839 --> 00:32:31,480
Speaker 1: This stuff yet?

593
00:32:32,160 --> 00:32:36,720
Speaker 4: Yeah, yeah, kind of the idyllic you know, old old school. Yeah,

594
00:32:36,799 --> 00:32:38,759
but yeah, it was. It was one of those one

595
00:32:38,799 --> 00:32:40,799
of those deals where where you know, I remember it

596
00:32:40,799 --> 00:32:42,559
as a kid. We haven't been able to do with

597
00:32:42,559 --> 00:32:46,960
my kids once we ended the family tradition because I said, like, yeah,

598
00:32:46,960 --> 00:32:48,920
we're gonna go up there and see the tree in

599
00:32:48,960 --> 00:32:52,240
Westlake Center as we're getting mugged, as we're trying not

600
00:32:52,319 --> 00:32:55,359
to step in feces and hair and needles, like not

601
00:32:55,359 --> 00:32:59,000
not interested, right, right, and and and it cracks me

602
00:32:59,079 --> 00:33:02,599
up because, like you said, when you don't have kids,

603
00:33:02,799 --> 00:33:05,200
so much of that stuff slides by you. You don't

604
00:33:05,240 --> 00:33:07,680
notice it, right because you don't need to, right. And

605
00:33:07,759 --> 00:33:11,559
so yeah, there's no question it makes for better citizens,

606
00:33:11,880 --> 00:33:15,839
It makes for a better, better culture. The other thing, too,

607
00:33:16,960 --> 00:33:20,480
is we've got to get to a place of assimilation.

608
00:33:21,119 --> 00:33:23,519
And don't I don't think I don't think the I

609
00:33:23,519 --> 00:33:26,759
don't think it's a legislative thing outside of no better

610
00:33:26,839 --> 00:33:30,119
immigration policy, whereas I think immigration policy is one way

611
00:33:30,119 --> 00:33:32,079
you do it. Yep, But we have to get back

612
00:33:32,160 --> 00:33:36,799
into if you want to come here because you want opportunity.

613
00:33:37,720 --> 00:33:39,519
Speaker 1: Come on in, baby, and you know what I mean,

614
00:33:39,599 --> 00:33:44,240
and come here and take your uniqueness and celebrate it

615
00:33:44,599 --> 00:33:49,039
as you become American and you make your priority. You're

616
00:33:49,079 --> 00:33:51,480
here for life, liberty, pursuit of happiness. You're here because

617
00:33:51,519 --> 00:33:54,680
you've looked at a system that says, Okay, I'm respected

618
00:33:54,720 --> 00:33:57,240
because I was created by God. I have rights because

619
00:33:57,279 --> 00:34:00,319
God gives them to me, not governments. I'm come here

620
00:34:00,359 --> 00:34:02,839
to pursue life, liberty, and happiness. I'm too smart to

621
00:34:02,920 --> 00:34:05,400
know that to think the government can give me anything

622
00:34:05,400 --> 00:34:08,679
that it didn't take from someone else. Please bring us

623
00:34:08,719 --> 00:34:11,960
this Like we were talking about culture and I was.

624
00:34:12,519 --> 00:34:15,639
I was in a small business in Mexico, and I

625
00:34:15,639 --> 00:34:18,639
will take you there. I'm gonna give you the best

626
00:34:18,679 --> 00:34:22,039
street tacos and you're gonna think. I promise you, dude,

627
00:34:22,079 --> 00:34:24,639
because we're gonna be walking up to Maul. I guarantee

628
00:34:24,679 --> 00:34:26,320
you you're gonna do what my friend Brian did. He's

629
00:34:26,360 --> 00:34:28,440
a listener to the show. You're gonna be going Todd,

630
00:34:28,440 --> 00:34:31,159
come on, and I guarantee you it's gonna be like Brian.

631
00:34:31,199 --> 00:34:32,519
As we sat there and goes man, I thought You're

632
00:34:32,559 --> 00:34:35,159
gonna take me the place over the bridge. Nope, Well

633
00:34:35,159 --> 00:34:38,159
Caesar said, I know what Caesar said. But Caesar's only

634
00:34:38,159 --> 00:34:40,039
a Mexican citizen. Is love his his whole life. He

635
00:34:40,079 --> 00:34:43,800
doesn't know street tacos so and then he bites into talk.

636
00:34:43,880 --> 00:34:50,000
He goes, oh oh, And I was trying to order

637
00:34:50,400 --> 00:34:52,960
extra chicken. And I love this because I'm talking to

638
00:34:52,960 --> 00:35:02,800
the lady dos tacos combil double. I'm thinking, I'm being

639
00:35:03,000 --> 00:35:13,880
so clever. Double chicken, okay, homo ah estra chicken, extra hockey.

640
00:35:14,400 --> 00:35:18,159
So she's helping me with the language and our carbone

641
00:35:18,519 --> 00:35:22,480
and I'm doing my very very best. And and uh

642
00:35:23,199 --> 00:35:30,440
espresso a double espresso con dos claim see espresso extra cream.

643
00:35:30,480 --> 00:35:32,519
So we're leaving and I walk up to her. I say,

644
00:35:33,800 --> 00:35:39,519
is delicioso mia more more? I love the place Buenos Noche.

645
00:35:39,639 --> 00:35:49,800
She said, no Buenos and pointing at the watch Buenos Times.

646
00:35:50,000 --> 00:35:53,280
And they do. Actually like there's a thing where you

647
00:35:53,320 --> 00:35:57,639
say this. That's culture. It's this small business. And I've

648
00:35:57,719 --> 00:36:02,000
just had this in major about small business in America

649
00:36:02,039 --> 00:36:05,199
and banks and mid sized businesses. If you're a business owner,

650
00:36:05,519 --> 00:36:09,880
mid sized business, small business, please hear this. If you

651
00:36:09,960 --> 00:36:13,960
don't have an actual corporate credit established and you have

652
00:36:14,000 --> 00:36:15,599
a credit rating. In fact, I have two of them.

653
00:36:16,239 --> 00:36:18,559
You probably haven't looked at it. But listen, please to this.

654
00:36:19,440 --> 00:36:24,400
If you're not stewarding that, you have decided to pierce

655
00:36:24,400 --> 00:36:27,400
your own corporate veil. That's what you've decided to do.

656
00:36:28,159 --> 00:36:30,800
You've decided to be vulnerable in that way. So if

657
00:36:30,840 --> 00:36:33,079
God forbid, you make a mistake, you got to slip

658
00:36:33,119 --> 00:36:36,880
and fall in your business, someone just decides to sue you.

659
00:36:36,920 --> 00:36:40,960
To be mendacious. They can go after your house, your retirement,

660
00:36:41,800 --> 00:36:44,320
your kid's college funds because you decided to leave that

661
00:36:44,360 --> 00:36:48,039
door open. That's what you decided to do. Now you're

662
00:36:48,039 --> 00:36:50,320
a business person, might be like me. I hate the

663
00:36:50,360 --> 00:36:54,679
financial stuff. It is my Achilles heel. It is a problem.

664
00:36:54,960 --> 00:36:58,039
I hate it. So I put it off and I'm

665
00:36:58,039 --> 00:36:59,280
not going to go out and hire a bunch of

666
00:36:59,320 --> 00:37:03,079
lawyers to get me corporate credits. No way. So God

667
00:37:03,119 --> 00:37:07,119
bless the people at Busible. They solve this problem for

668
00:37:07,199 --> 00:37:09,400
you in seven easy steps. It's not a whole bunch

669
00:37:09,400 --> 00:37:12,559
of lawyers they're gonna solve it. They're gonna leave about

670
00:37:12,599 --> 00:37:14,199
ten percent of it for you to do. On your own.

671
00:37:14,239 --> 00:37:17,679
Why because they don't open corporate credit in other people's names,

672
00:37:18,360 --> 00:37:21,159
nor do you want them to save the money, save

673
00:37:21,199 --> 00:37:23,559
the time. What you're gonna spend on this, it's so

674
00:37:23,760 --> 00:37:26,159
worth it. Not the hassle. And I'm gonna make you promise.

675
00:37:26,760 --> 00:37:29,920
Go to the website. It's go bisible dot com. Go

676
00:37:30,079 --> 00:37:34,079
bisible dot com. Go to the website, get a free consultation,

677
00:37:34,360 --> 00:37:37,920
no obligation, and you're gonna learn something about your business.

678
00:37:38,440 --> 00:37:42,719
And this, to me is not just a disclosure. This

679
00:37:42,920 --> 00:37:46,320
is a bragging point. This man, Zach Abraham, is a

680
00:37:46,400 --> 00:37:51,599
minority owner investor in Visible because he saw the vivant.

681
00:37:51,639 --> 00:37:55,400
He's also a client. It's go bisible dot com. So

682
00:37:55,480 --> 00:37:57,199
we were talking about culture, and we were talking about

683
00:37:57,199 --> 00:38:00,800
that small business and there's a small business callure in Mexico,

684
00:38:00,840 --> 00:38:04,000
and you know this of the guys who hustle business.

685
00:38:04,360 --> 00:38:08,000
I went walking through a vendor area and because it

686
00:38:08,079 --> 00:38:10,119
was early to treatment at renew and so they were

687
00:38:10,320 --> 00:38:11,880
on I think, I don't know what day it is.

688
00:38:13,119 --> 00:38:15,039
I think it's Thursday. No it's not, because it was.

689
00:38:15,639 --> 00:38:17,920
It was it was the day before I left. Wednesdays.

690
00:38:17,920 --> 00:38:20,199
They set up a vendors down by Renewest down on

691
00:38:20,400 --> 00:38:23,280
where there's a bunch of sailboats. I'm walking around and

692
00:38:23,320 --> 00:38:25,599
no one's coming up to me but one dude and

693
00:38:25,639 --> 00:38:29,360
he comes up. Ah, Simora is Canadian? I ever thought

694
00:38:29,360 --> 00:38:33,559
it was Canadian. No American? Oh, American, American. Come on.

695
00:38:33,679 --> 00:38:37,440
And he brings me into his shop and Zach, he's

696
00:38:37,440 --> 00:38:40,360
showing me all this, this jewelry, the custom made jewelry,

697
00:38:40,679 --> 00:38:42,480
and I'm looking at it and we're starting to barter,

698
00:38:42,679 --> 00:38:46,039
and he's, you know, uh six hundred paces oh oh

699
00:38:46,480 --> 00:38:50,519
oh oh, you know because the highway Robbert right, the

700
00:38:50,519 --> 00:38:52,719
culture there loves that. And I said, I don't know

701
00:38:52,760 --> 00:38:55,519
how to say ring, and almost a d say ring.

702
00:38:55,599 --> 00:38:58,800
Oh yeah. He shows me this ring and I said,

703
00:38:58,960 --> 00:39:00,519
I'm blocking gos to His son did a little bit

704
00:39:00,559 --> 00:39:01,920
of go throw the ring in and we've got a deal.

705
00:39:03,199 --> 00:39:05,360
And he does this thing. Oh, I don't know. I

706
00:39:05,360 --> 00:39:07,719
guess that is a little calculator and he comes back

707
00:39:07,760 --> 00:39:09,239
with it and then he does this and I love this.

708
00:39:09,280 --> 00:39:14,000
He's unam. He gets out his iPhones. Fuss the key,

709
00:39:14,000 --> 00:39:16,719
p us key, come over here. He shows me his

710
00:39:16,719 --> 00:39:21,360
phone and it's a video shot inside his workshop and

711
00:39:21,400 --> 00:39:26,639
there he is making the rings and the next from

712
00:39:26,679 --> 00:39:32,199
the raw silver, there is implanting the stones, he's twisting

713
00:39:32,440 --> 00:39:37,159
the he's twisting the chains, he's putting them together. I

714
00:39:37,199 --> 00:39:39,760
love it, and that was culture to me. And then

715
00:39:39,800 --> 00:39:41,400
now I'm like, now I feel like, hey, let's go

716
00:39:41,480 --> 00:39:43,000
back higher because.

717
00:39:43,239 --> 00:39:44,960
Speaker 4: He well, no, but I love the fact that he

718
00:39:45,000 --> 00:39:48,719
did that to justify his price. Yes, right, Like that's

719
00:39:48,760 --> 00:39:51,480
really cool because because I'm sitting there going, I'm looking

720
00:39:51,519 --> 00:39:54,360
at that and going, Okay, that's that's worth an extra

721
00:39:54,400 --> 00:39:58,119
ten or twenty bucks, right, Like, you're not just selling

722
00:39:58,119 --> 00:40:00,159
me recycled stuff he bought from China.

723
00:40:00,360 --> 00:40:02,639
Speaker 1: Right, I'm watching you put it together. And this was

724
00:40:02,679 --> 00:40:05,280
so cool because I brought home some crosses for my

725
00:40:05,360 --> 00:40:07,800
wife and daughter, and I thought both of them kind

726
00:40:07,800 --> 00:40:10,559
of match their personality. My daughter's multi colored, my wife's

727
00:40:10,559 --> 00:40:13,639
is sort of this light blue, and so I'm really

728
00:40:13,679 --> 00:40:16,480
proud of the crosses. And it's so funny because both

729
00:40:16,480 --> 00:40:20,519
of them go, oh, look at the chains. Yeah wait,

730
00:40:20,559 --> 00:40:22,199
did you see the cour Yes, no, the cross but

731
00:40:22,239 --> 00:40:23,320
the chains like.

732
00:40:23,960 --> 00:40:25,800
Speaker 4: What the crosses?

733
00:40:26,079 --> 00:40:30,039
Speaker 1: So let me ask you about small business in relation

734
00:40:30,280 --> 00:40:35,320
to macroeconomics, and let me do it this way. There's

735
00:40:35,320 --> 00:40:37,320
this meme. I want you to see this. This is

736
00:40:37,360 --> 00:40:41,159
a meme I picked up online. Be based like Milton Friedman.

737
00:40:41,920 --> 00:40:46,119
Number one, go to communist China. Number two, ask why

738
00:40:46,119 --> 00:40:49,639
workers on the construction site only use shovels. Number three.

739
00:40:49,719 --> 00:40:52,119
Listen to their answers that they do this to maximize

740
00:40:52,199 --> 00:40:55,400
job creation. Number four answer back to the communist officials

741
00:40:55,440 --> 00:40:59,559
they should use spoons instead. Number five use live, learn

742
00:40:59,639 --> 00:41:03,119
to live tale. Macroeconomics a statement about you know, and

743
00:41:03,320 --> 00:41:06,079
unions do this, et cetera. State governments do this, and

744
00:41:06,119 --> 00:41:10,480
federal governments do this. What do you think in terms

745
00:41:10,559 --> 00:41:15,400
of small business macroeconomics? What do you think are the

746
00:41:15,559 --> 00:41:20,159
biggest drivers of downward pressure of harm on small business?

747
00:41:20,159 --> 00:41:24,239
You've spoken about regulation. I think it's downward culture of

748
00:41:24,320 --> 00:41:27,400
the regulators. But what do you think are the biggest

749
00:41:27,400 --> 00:41:30,760
things that Trump could change to really see small business

750
00:41:30,920 --> 00:41:34,039
thrive instead of seeing the Milton Friedman use spoons to

751
00:41:34,239 --> 00:41:34,760
dig holes.

752
00:41:35,639 --> 00:41:40,760
Speaker 4: No, that's a great question. So now part of my

753
00:41:40,880 --> 00:41:45,840
answer is undoubtedly is as impartial as I'm trying to be.

754
00:41:45,880 --> 00:41:49,639
It's undoubtedly been covered colored by my own experiences. But truthfully,

755
00:41:50,760 --> 00:41:55,000
I don't think that there is anything more onerous right

756
00:41:55,039 --> 00:41:59,880
now and more difficult for small businesses to navigate than

757
00:42:00,519 --> 00:42:05,400
than the regulatory environment. And and that is not by accident.

758
00:42:06,039 --> 00:42:09,519
People need to understand when we're talking about pulling back regulations,

759
00:42:10,079 --> 00:42:14,079
we're not talking about making you know, we're not what

760
00:42:13,880 --> 00:42:16,840
what was the name of the what was the name

761
00:42:16,840 --> 00:42:20,559
of the Doctor Seuss book where the guy was chopping

762
00:42:20,559 --> 00:42:24,320
down all the trees? Remember that the They did a.

763
00:42:24,280 --> 00:42:27,119
Speaker 1: Movie about it, Lorax, Yeah, thank you, Alex.

764
00:42:27,360 --> 00:42:30,119
Speaker 4: Yeah. Look, look, look when we're saying we're cutting down

765
00:42:30,440 --> 00:42:33,239
regulate we're not talking about clear cutting Yellowstone. And we're

766
00:42:33,280 --> 00:42:36,480
not talking about setting the Colorado River on fire. Okay.

767
00:42:36,800 --> 00:42:41,320
What we're what we're talking about is similar to how

768
00:42:41,440 --> 00:42:46,000
law fair Right came about. Regulatory capture has been a story.

769
00:42:46,039 --> 00:42:48,519
We've talked about it, and I would I look, if

770
00:42:48,559 --> 00:42:51,599
you don't know what that term means, do yourself a

771
00:42:51,599 --> 00:42:54,480
favor and go watch a fifteen minute video. Go type

772
00:42:54,519 --> 00:42:57,920
in Google Bill Gurley g U R L e Y

773
00:42:58,559 --> 00:43:01,719
regulatory capture. And this is coming from one of the

774
00:43:01,800 --> 00:43:06,519
biggest and most successful tech vcs in all of Silicon Valley,

775
00:43:06,800 --> 00:43:10,960
and he blows it wide open. They these regulations, the

776
00:43:11,079 --> 00:43:16,119
vast majority of them were put in place by the companies.

777
00:43:17,000 --> 00:43:20,519
Right now, the bureaucrats signed on either because they were

778
00:43:20,559 --> 00:43:23,599
crooked and they were their election was getting funded, or

779
00:43:24,440 --> 00:43:26,559
which honestly I think is the most most of them,

780
00:43:26,960 --> 00:43:30,079
they're just dumb and they don't understand business and they're like, oh,

781
00:43:30,119 --> 00:43:33,039
that's a great idea, and they never stopped to think,

782
00:43:33,079 --> 00:43:36,079
Wait a second, why do I have a room full

783
00:43:36,119 --> 00:43:41,000
of Apple executives arguing that I should increase regulation with

784
00:43:41,480 --> 00:43:44,880
Maybe I should ask myself that question, right? And the

785
00:43:44,960 --> 00:43:48,159
reason why is they know that every increased layer of

786
00:43:48,199 --> 00:43:51,639
regulation you put on is another barrier to It's like

787
00:43:51,679 --> 00:43:54,920
the government building a moat around their business. Right Because

788
00:43:55,159 --> 00:43:57,880
the small guy that would come up and challenge them

789
00:43:58,000 --> 00:44:01,159
via innovation, being more nimble, being quicker to pivot all

790
00:44:01,159 --> 00:44:04,159
that stuff, he gets smoked out because he can't afford

791
00:44:04,199 --> 00:44:06,920
a team full of lawyers to navigate the regulatory environment.

792
00:44:07,079 --> 00:44:09,719
He also doesn't have a senator on speed dial. Right,

793
00:44:09,800 --> 00:44:14,400
So that to me is the number one thing. Second

794
00:44:14,440 --> 00:44:18,480
of all, you need to rework under figure out some

795
00:44:18,599 --> 00:44:22,440
type of bracket situation. And if this doesn't apply to

796
00:44:22,480 --> 00:44:25,440
my company, I'm still fine with it. But you need

797
00:44:25,519 --> 00:44:29,159
to figure out a way to make if somebody wants

798
00:44:29,239 --> 00:44:34,000
to start a business that employs other people, especially when

799
00:44:34,000 --> 00:44:37,239
they're small. And why why do we small business is

800
00:44:37,280 --> 00:44:40,639
still the number one provider of jobs in this country, okay,

801
00:44:40,880 --> 00:44:45,760
And and they are also the most culturally and in

802
00:44:46,280 --> 00:44:51,840
communally beneficial type companies, right because because when you got like,

803
00:44:51,880 --> 00:44:54,719
for instance, I'm calling you from our office where we're

804
00:44:54,719 --> 00:44:57,079
sitting here talking for my office in downtown to come up. Okay,

805
00:44:57,400 --> 00:44:58,920
we give a lot of money to charity. It's a

806
00:44:58,960 --> 00:45:00,840
passion of my wife and I all that kind of stuff.

807
00:45:01,679 --> 00:45:05,159
Am I more interested in the plight of folks in Tacoma,

808
00:45:05,360 --> 00:45:07,960
Washington than the Morgans than the guys in the Morgan

809
00:45:08,039 --> 00:45:08,840
Stanley office?

810
00:45:08,880 --> 00:45:09,400
Speaker 1: Of course?

811
00:45:09,920 --> 00:45:13,920
Speaker 4: Of course my clients are here, right, My people are here,

812
00:45:14,000 --> 00:45:17,760
my employees are here. I run a business I'm paying right.

813
00:45:17,920 --> 00:45:20,880
People are like, well, you're saying Morgan Stanley Advisors live. Well,

814
00:45:20,920 --> 00:45:23,079
I'm not saying they don't care about the community. But

815
00:45:23,119 --> 00:45:25,440
they're not paying B and O taxes in it, right

816
00:45:25,599 --> 00:45:27,960
or E in O taxes. They're not you know, they're

817
00:45:28,000 --> 00:45:31,159
not doing all these these types of things that you

818
00:45:31,159 --> 00:45:33,719
have to when you run a business in a community.

819
00:45:34,159 --> 00:45:38,239
So I think you should have tax breaks, I think

820
00:45:38,360 --> 00:45:41,719
under under a certain level. The other thing is, I

821
00:45:41,719 --> 00:45:44,559
think that they should change the corporate status. I think

822
00:45:44,559 --> 00:45:47,360
they should rework it. Meaning, you know, everybody talks about

823
00:45:47,000 --> 00:45:50,519
the Trump corporate tax cuts that only applies to ask corps.

824
00:45:50,760 --> 00:45:54,000
Excuse me, corpses sea corps. Right, So everything's like, oh,

825
00:45:54,079 --> 00:45:56,519
the big carecut. We didn't get it, man, we didn't

826
00:45:56,519 --> 00:45:59,320
get it because as es corps it for most small

827
00:45:59,360 --> 00:46:02,719
businesses you got over fifty employees, and there's other factors

828
00:46:02,719 --> 00:46:04,719
to consider. I'm not an expert on the matter, but

829
00:46:04,920 --> 00:46:08,519
I've gone through it with my own business. There really

830
00:46:08,559 --> 00:46:11,360
is no there's really no viable way for my business

831
00:46:11,400 --> 00:46:13,079
to become a sea corp. It'd be too onerous on

832
00:46:13,119 --> 00:46:15,199
too many other levels, and would you know, cancel on.

833
00:46:15,480 --> 00:46:19,920
But why would we give a tax situation that is

834
00:46:20,039 --> 00:46:22,159
better off if you're big then if you're small. That

835
00:46:22,320 --> 00:46:24,360
doesn't make any sense, right, it should be I mean,

836
00:46:24,360 --> 00:46:29,280
if anything, it should be inverted, right, So yeah, I yeah.

837
00:46:29,559 --> 00:46:31,519
The other thing is, I you know, I think that

838
00:46:31,559 --> 00:46:33,880
you should look at a federal exemption a payroll tax

839
00:46:34,639 --> 00:46:36,159
under under a certain amount of employees.

840
00:46:36,239 --> 00:46:38,840
Speaker 1: I couldn't agree more on that topic. I couldn't agree more.

841
00:46:38,880 --> 00:46:40,920
I also, every time I have to deal with taxes

842
00:46:41,119 --> 00:46:45,119
and I had to send the IRX like you a check,

843
00:46:45,360 --> 00:46:48,480
and I really struggle with it that every time I

844
00:46:48,559 --> 00:46:52,320
have to sit down and put together the stink and paperwork. Right,

845
00:46:52,360 --> 00:46:54,800
here's what I paid Alex, and here's what I paid Brianna,

846
00:46:54,840 --> 00:46:56,840
and here's what I paid Spencer, and here's what I

847
00:46:56,880 --> 00:47:01,480
pay for rents. And I know the government already knows. Yeah,

848
00:47:01,559 --> 00:47:03,840
I know they know. Oh and here's my bank statements,

849
00:47:04,320 --> 00:47:09,639
and here's my bookkeeper's you know, certified bank statements, and

850
00:47:09,880 --> 00:47:12,480
here's my CPA statements. And I know you have all

851
00:47:12,480 --> 00:47:15,119
these things. Yeah, and I'm gonna go through and I'm

852
00:47:15,119 --> 00:47:17,840
gonna commit this time. And what are you really trying

853
00:47:17,880 --> 00:47:20,840
to do? IRS? I mean, what are you trying to do?

854
00:47:20,880 --> 00:47:22,719
I think you're trying to justify a bunch of employees.

855
00:47:23,679 --> 00:47:25,599
Because you've got all this data. I'd love to see

856
00:47:25,599 --> 00:47:29,440
that streamlined and made very very simple. How much money

857
00:47:29,480 --> 00:47:32,679
did you make, how much should you pay out? What

858
00:47:32,800 --> 00:47:36,519
percentage do you us? And if you think I'm committing fraud,

859
00:47:37,320 --> 00:47:39,360
then come and say, okay, now we need to see

860
00:47:39,360 --> 00:47:43,599
receipts right, yeah, and on a small business basis, like

861
00:47:43,880 --> 00:47:47,400
I hesitated to be a corporation, which was stupid, financially

862
00:47:47,880 --> 00:47:49,920
desperately stupid. I was an lc WY. Don't know why

863
00:47:50,119 --> 00:47:53,960
because I have to do stinking quarterly reports. So all

864
00:47:54,000 --> 00:47:55,960
the partners get together. In other words, I get together

865
00:47:56,000 --> 00:48:00,639
with myself and we look at the state to the business,

866
00:48:00,679 --> 00:48:03,719
and we have it and my report reads. Examine the

867
00:48:03,760 --> 00:48:07,239
shareholder votes, yep, you always have the shareholder vote. Shareholders vote,

868
00:48:07,679 --> 00:48:12,360
things are rosy. No, look at the state of the business,

869
00:48:12,840 --> 00:48:17,000
business as well. Discussion ensues, vote continue as is, And

870
00:48:17,159 --> 00:48:20,159
now I have a website that does that, and they're

871
00:48:20,159 --> 00:48:23,840
write a stupid report and the state of Idaho gets this,

872
00:48:23,960 --> 00:48:26,719
and the government gets this. Did you really have a

873
00:48:26,719 --> 00:48:32,960
corporate meeting? No, I'm not gonna lie because then it's perjury.

874
00:48:33,400 --> 00:48:35,280
So yes, I sat down and met with myself and

875
00:48:35,320 --> 00:48:38,519
I argued it to myself. So I want to wrap

876
00:48:38,559 --> 00:48:40,840
this back over to where we began here in a second, Zach,

877
00:48:40,920 --> 00:48:44,000
and that is at the macro level. I want you

878
00:48:44,079 --> 00:48:47,760
to give President Trump a grade at this point in

879
00:48:48,880 --> 00:48:53,480
on economics, at this point, in a grade of an

880
00:48:53,480 --> 00:48:55,079
A to an F. And we'll do that in just

881
00:48:55,119 --> 00:48:58,679
a second. Small businesses right heart of the economy, is

882
00:48:58,679 --> 00:49:01,280
often said. It's also what I love about small businesses

883
00:49:01,360 --> 00:49:03,039
is it's the person out of that taco place that

884
00:49:03,039 --> 00:49:05,360
I was talking about in Mexico that I love. No

885
00:49:05,400 --> 00:49:08,559
one there speaks English period. I mean they have words,

886
00:49:08,559 --> 00:49:11,760
but they have no sentences, and I think they're proud

887
00:49:11,760 --> 00:49:14,840
of it. I think there are tacos are so good,

888
00:49:14,880 --> 00:49:17,039
you're going to come in and point out our menu

889
00:49:17,360 --> 00:49:19,320
and we don't really care if you. I bet once

890
00:49:19,360 --> 00:49:22,119
you leave they have like fluent English. That guy's kind

891
00:49:22,119 --> 00:49:24,519
of cool, like he really tried. Think I'm anne. They'll

892
00:49:24,559 --> 00:49:28,039
say no, but I think that's part of their mystique.

893
00:49:28,039 --> 00:49:30,360
In my case of my friend Tim Krukshank, founder and

894
00:49:30,400 --> 00:49:33,719
CEO Bone Frog Coffee, it says God, Country, team on

895
00:49:33,760 --> 00:49:36,719
the bag because that is Tim. That's how he runs

896
00:49:36,800 --> 00:49:40,119
his life. The Lord, the country, the team. Team to

897
00:49:40,199 --> 00:49:42,920
him means family and then something else. He was on

898
00:49:43,000 --> 00:49:47,679
the seal teams bone Frog. That insignia that is the

899
00:49:47,760 --> 00:49:50,280
sign of a fallen seal. In fact, if you doubt me,

900
00:49:51,199 --> 00:49:54,000
go buy the bone Frog merch and the one with

901
00:49:54,079 --> 00:49:55,880
the fallen seal on it and wear that around a

902
00:49:55,960 --> 00:49:58,800
Navy seal and I promise you you're going to get

903
00:49:58,840 --> 00:50:02,800
the stink eye of does that company? Is it Sealans?

904
00:50:03,679 --> 00:50:06,199
And when you say yes, they'll say something along the

905
00:50:06,280 --> 00:50:10,440
lines of it better be it better be? Then you

906
00:50:10,440 --> 00:50:12,480
say it's owned by guy named Tim Crookshank. He did

907
00:50:12,480 --> 00:50:15,519
three tours. He was a Buds instructor. Okay, and I

908
00:50:15,599 --> 00:50:18,639
get you. I guarantee you your seal acquaintance of friends's gonna go.

909
00:50:18,719 --> 00:50:21,719
I'm gonna check on that. I'm gonna check on that,

910
00:50:22,079 --> 00:50:24,920
and he will. He's put out a special bag. It's

911
00:50:24,960 --> 00:50:27,880
called Golden Age. It's to celebrate the economy and the

912
00:50:28,000 --> 00:50:31,159
chance to find the right size or economy to cut waste,

913
00:50:31,159 --> 00:50:33,519
to cut fraud, to cut abuse, to do what we

914
00:50:33,599 --> 00:50:36,400
can to restructure the global trade scene. Maybe this deal

915
00:50:36,440 --> 00:50:39,440
from India is the beginning of that iPhone coming back here,

916
00:50:39,599 --> 00:50:42,679
Nvidia investing here. And it's a beautiful bag. You can

917
00:50:42,719 --> 00:50:45,039
see the Golden Eagle on its its wings once again,

918
00:50:45,079 --> 00:50:48,000
spread over America and of course God Country team. So

919
00:50:48,079 --> 00:50:50,519
make this your first bag. This is a great excuse

920
00:50:50,559 --> 00:50:53,159
to try bone frog because of the very very limited

921
00:50:53,199 --> 00:50:55,800
nature of these bags. Go to Bonefrog Coffee dot com

922
00:50:55,840 --> 00:50:57,920
Sash Todd. Use promo code Todds to get temper sent

923
00:50:57,960 --> 00:51:00,639
off your first purchase once you're converted, because the coffee

924
00:51:00,679 --> 00:51:02,119
is great. To go to bone Frog Coffee dot com,

925
00:51:02,119 --> 00:51:04,599
Sash Todd you use promo card todd you get fifteen

926
00:51:04,599 --> 00:51:08,159
percent off subscription coffee. So Zach, let's wrap this all up.

927
00:51:08,199 --> 00:51:10,760
Speaker 4: Yep, let me let me let me a quick comment

928
00:51:10,800 --> 00:51:13,519
on that, because on the Coffee Talk the Mexico, Yeah,

929
00:51:13,519 --> 00:51:17,199
on Tim on Tim on Tim crookshanking guys, if you're

930
00:51:17,239 --> 00:51:20,440
listening to this, I mean I've been on the I've

931
00:51:20,440 --> 00:51:22,039
been on the other side a hundred times where I'm

932
00:51:22,039 --> 00:51:23,719
listening to something. You know, you just kind of pass

933
00:51:23,760 --> 00:51:26,159
over the eye. First of all, you're not going to

934
00:51:26,159 --> 00:51:29,639
meet a better guy, right like, just the humility you

935
00:51:29,639 --> 00:51:32,119
you he's you'd have no First of all, you'd have

936
00:51:32,119 --> 00:51:34,599
no idea. The guy's navycal not because he doesn't look dangerous,

937
00:51:34,800 --> 00:51:37,639
but just he's so understated and quiet and just you know,

938
00:51:38,119 --> 00:51:41,320
he's he's one of those silent assassins types, you know,

939
00:51:42,440 --> 00:51:46,360
and couldn't be more down to earth when and the

940
00:51:46,360 --> 00:51:50,639
coffee's outstanding as well, Yes, when when you do this,

941
00:51:50,840 --> 00:51:53,920
when you switch from Folders Folders or Starbucks or whatever

942
00:51:53,920 --> 00:51:57,400
it is to bone Frog, you're not just getting better coffee.

943
00:51:57,679 --> 00:52:00,760
But that really makes a difference. It really matter And

944
00:52:01,119 --> 00:52:04,320
I'm I'm again this might seem self serving because I

945
00:52:04,400 --> 00:52:07,760
market on here as well, but it really matters. Right,

946
00:52:07,880 --> 00:52:10,800
those dollars are not going to corporations that are going

947
00:52:10,880 --> 00:52:14,280
to be using them against you in the next election cycle. Yeah, right,

948
00:52:14,719 --> 00:52:17,280
And it's going to be building solid families of people

949
00:52:17,280 --> 00:52:20,440
that have similar values. And just keep in mind, as

950
00:52:20,480 --> 00:52:23,280
a community, that's that's one of our strengths, right, is

951
00:52:24,199 --> 00:52:26,199
buying from each other. I mean, look at you know,

952
00:52:26,400 --> 00:52:28,199
look at so many of these cultures that do that,

953
00:52:28,480 --> 00:52:30,920
and you know that, you know, they take heat from it.

954
00:52:30,960 --> 00:52:32,400
I think of the Mormons, you know what I mean

955
00:52:32,880 --> 00:52:35,760
some I've got some amazing Mormons as clients and good

956
00:52:35,760 --> 00:52:38,199
friends too, but but you know, I've heard him take

957
00:52:38,199 --> 00:52:40,280
heat from that. And I'm always like, why is keeping

958
00:52:40,320 --> 00:52:43,000
money in business inside your community of like minded people?

959
00:52:43,000 --> 00:52:45,079
Why is that a bad thing? You know, I think

960
00:52:45,079 --> 00:52:47,119
I think it's a I think it's a wonderful thing.

961
00:52:47,519 --> 00:52:50,280
And then also think about if you don't take advantage

962
00:52:50,280 --> 00:52:52,800
of some of these people liked him. Think about where

963
00:52:52,840 --> 00:52:54,599
your dollars are going. You don't know what they're doing

964
00:52:54,599 --> 00:52:57,320
with them, right, well, or you do right, they're probably

965
00:52:57,400 --> 00:52:59,079
using them against you. But anyway, I just had to

966
00:52:59,079 --> 00:52:59,920
say that because Tim's just.

967
00:53:01,239 --> 00:53:04,000
Speaker 1: So beautiful that you said that, And I would add that,

968
00:53:04,079 --> 00:53:05,639
you know, in the case of Bone Frog, ten percent

969
00:53:05,679 --> 00:53:08,880
of proceeds go to the Navy Seal Foundation. But I'll

970
00:53:08,960 --> 00:53:10,760
let you it on something. I don't know if you've

971
00:53:10,760 --> 00:53:12,960
ever heard this story. Now you know Tim, obviously we

972
00:53:13,000 --> 00:53:14,639
just talked about that, that he's a Navy Seal. I've

973
00:53:14,639 --> 00:53:17,840
told you before his technique when he's a BUDS instructor.

974
00:53:17,880 --> 00:53:21,239
He didn't yell at guys. He wasn't calling him names,

975
00:53:21,440 --> 00:53:23,760
he wasn't screaming at him. I've told you his technique

976
00:53:23,760 --> 00:53:28,079
about it's he would wait until you failed an evolution,

977
00:53:28,679 --> 00:53:32,039
until you had the worst performance in something, and it

978
00:53:32,119 --> 00:53:33,639
often happened at four o'clock in the morning, and he

979
00:53:33,760 --> 00:53:37,079
jog up next to you and go, hey, hey, listen,

980
00:53:38,519 --> 00:53:40,360
I really take it a liking to you while you're here,

981
00:53:41,360 --> 00:53:44,960
and between you and me, you're not gonna make it

982
00:53:47,639 --> 00:53:51,719
seriously your wash out. So I don't want you to

983
00:53:51,800 --> 00:53:55,400
have to go ring the bell and everybody see. I

984
00:53:55,400 --> 00:53:58,400
mean you have to ring the bell. But listen, you

985
00:53:58,400 --> 00:54:01,920
can come back next year and maybe I'll make it then.

986
00:54:01,960 --> 00:54:04,039
But you're out, So why don't you just peel off

987
00:54:04,079 --> 00:54:07,639
with me? And you and I was just privately.

988
00:54:07,199 --> 00:54:07,480
Speaker 4: Go up.

989
00:54:07,519 --> 00:54:09,679
Speaker 1: I'll put you in the hot get you some donuts,

990
00:54:09,760 --> 00:54:13,280
and you can ring out and go get some sleep.

991
00:54:15,840 --> 00:54:20,760
Like did that work? He is sadly it did. Oh,

992
00:54:20,760 --> 00:54:22,360
but I'll tell you something else now. I want you

993
00:54:22,440 --> 00:54:26,119
to picture this. So and Tim is, I've told the

994
00:54:26,159 --> 00:54:28,039
story with Tim on the air, so I know it's okay.

995
00:54:28,599 --> 00:54:31,199
When his wife, Liz was was at a point where

996
00:54:31,280 --> 00:54:37,519
she looked like she was going to die, and Tim

997
00:54:37,639 --> 00:54:42,559
was a position's assistant and he knew and she made

998
00:54:42,559 --> 00:54:47,440
it out of this one. But a medical professional came

999
00:54:47,480 --> 00:54:50,000
in to him and said to Tim, and he knew

1000
00:54:50,039 --> 00:54:53,239
Tim's background. He goes, you are being selfish. Let her

1001
00:54:53,239 --> 00:54:57,920
go die, and he said, I don't. She doesn't want

1002
00:54:57,920 --> 00:55:03,760
to die. Yeah, but being selfish. And then a doctor

1003
00:55:03,760 --> 00:55:08,360
made the decision to put his finger into the chest

1004
00:55:08,400 --> 00:55:14,039
of a Navy seal jabbed him in the chest.

1005
00:55:14,800 --> 00:55:15,599
Speaker 4: Where's that doctor?

1006
00:55:15,639 --> 00:55:15,960
Speaker 2: Buried.

1007
00:55:17,960 --> 00:55:22,400
Speaker 1: No, but I know, I know what you're saying. No, no, no, no, no.

1008
00:55:22,840 --> 00:55:26,679
But the guy says that he's he's stabbing a Navy

1009
00:55:26,719 --> 00:55:29,039
seal in the chest with his finger, a paper pushing

1010
00:55:29,039 --> 00:55:35,639
doctor let her go die, and Tim's responded to us

1011
00:55:37,360 --> 00:55:42,360
leave yeah, And the doctor said what he goes leave

1012
00:55:44,360 --> 00:55:51,199
leave leave, And I think at that point the doctor

1013
00:55:51,679 --> 00:55:59,239
realized with his hand on Tim's chest like whoops, yeah, whoops, and.

1014
00:55:59,360 --> 00:56:01,719
Speaker 4: Not yeah not three D chess, that's for sure.

1015
00:56:02,039 --> 00:56:04,719
Speaker 1: No. I was telling this story the other day about

1016
00:56:04,719 --> 00:56:09,239
my friend Cody, who is well retired seal, and my

1017
00:56:09,280 --> 00:56:11,679
friend Mark who's deceased and lost his life but not

1018
00:56:11,719 --> 00:56:15,880
in Russia. And there was a scene they were at

1019
00:56:15,880 --> 00:56:19,119
a bar that tide the story, and some guys got

1020
00:56:19,199 --> 00:56:21,920
rude with the waitress, probably the bartender, and they got

1021
00:56:22,000 --> 00:56:24,360
rude with her and and and Mark said a couple

1022
00:56:24,360 --> 00:56:26,639
of different times, hey guys, this woman's earning a living,

1023
00:56:27,039 --> 00:56:31,920
Please be polite, and they wouldn't. And hey, I'm going

1024
00:56:32,000 --> 00:56:35,039
to ask you again nicely, please be polite. And then

1025
00:56:35,079 --> 00:56:38,599
one guy decided to stand the Mark to stand out,

1026
00:56:38,760 --> 00:56:43,000
and Mark stepped to him, and there was a guy

1027
00:56:43,039 --> 00:56:47,599
but like sitting there between them, and he realized Mark

1028
00:56:47,719 --> 00:56:52,159
size looked at Mark and still made the decision to

1029
00:56:52,280 --> 00:56:55,960
come at him, and Mark pushed him back, face to

1030
00:56:56,000 --> 00:57:00,320
the bar, hand behind the back and inches from breaking

1031
00:57:00,400 --> 00:57:04,480
his arm. And he's holding them and Mark says, I

1032
00:57:04,519 --> 00:57:08,840
told you be nice. I'm going to let you go,

1033
00:57:10,280 --> 00:57:13,679
and he let him go, and Cody then turns and

1034
00:57:13,679 --> 00:57:16,960
Cody's smaller than Mark and Mark was. And Cody turns

1035
00:57:17,000 --> 00:57:19,960
to this other guy's friend and he goes, you have

1036
00:57:20,000 --> 00:57:24,239
ever been in your death experience? And they goes now,

1037
00:57:24,239 --> 00:57:29,320
he goes, yes, yes, yeah, he just did right right,

1038
00:57:29,599 --> 00:57:32,880
and then and it always happens that. Then guys start

1039
00:57:32,920 --> 00:57:37,000
to look at their arms and they see the trident right,

1040
00:57:37,320 --> 00:57:42,559
and in the case of Mark, it was on his neck. Oh,

1041
00:57:43,440 --> 00:57:46,360
oh gosh, We're sorry. All right, so sorry with that distraction.

1042
00:57:46,960 --> 00:57:50,039
How do you treate how do you rate President Trump on?

1043
00:57:51,599 --> 00:57:54,639
How do you rate him A through F on the economy?

1044
00:57:54,679 --> 00:57:55,000
Speaker 4: This far?

1045
00:57:55,039 --> 00:57:57,400
Speaker 1: And I know it's very early, but this farest.

1046
00:57:57,159 --> 00:58:00,360
Speaker 4: Yeah, So I would look at it and separate it

1047
00:58:00,480 --> 00:58:06,840
in two different categories. So a first category would be, uh, principles, right,

1048
00:58:06,920 --> 00:58:09,559
so like what ideas if you are what parts are

1049
00:58:09,599 --> 00:58:11,599
you attacking? What are you going at? What are you

1050
00:58:11,639 --> 00:58:17,719
addressing on that? I give him an a meaning, you're like,

1051
00:58:17,840 --> 00:58:22,639
only try, Like only Trump can. His willingness to attack

1052
00:58:22,719 --> 00:58:27,599
these monstrosity type third rail issues that nobody else has

1053
00:58:27,679 --> 00:58:31,360
the stones to tackle and to do it all at

1054
00:58:31,400 --> 00:58:35,840
the same time is is you know if if you're

1055
00:58:36,360 --> 00:58:39,360
if you're a spectator of these kinds of things, it's

1056
00:58:39,360 --> 00:58:43,480
sort of shocking, right, meaning even his post election thing

1057
00:58:43,519 --> 00:58:45,840
where where you're like, well, I wonder what his first

1058
00:58:45,920 --> 00:58:47,320
ninety days are going to be, and you're like, well,

1059
00:58:47,320 --> 00:58:49,000
what did he say they were, Because they're going to

1060
00:58:49,039 --> 00:58:52,760
be exactly like that, right. It's not yeah, you don't,

1061
00:58:52,800 --> 00:58:54,880
you don't. It's it doesn't. It's does day a rocket

1062
00:58:54,920 --> 00:58:57,840
scientists figure it out. On the flip side, though, it's

1063
00:58:57,840 --> 00:59:00,440
funny you asked, because I was having this conversation coffee

1064
00:59:00,440 --> 00:59:06,800
with my wife this morning on the implementation side subject

1065
00:59:06,920 --> 00:59:09,239
to the way it all turns out, because I think

1066
00:59:09,280 --> 00:59:11,079
that's the other thing with Trump is you have to

1067
00:59:11,199 --> 00:59:13,880
leave he is going to do things in a very

1068
00:59:14,440 --> 00:59:19,599
non conventional way, especially as it relates to mainstream thought,

1069
00:59:19,880 --> 00:59:22,960
right he is He's just not going to And I

1070
00:59:23,000 --> 00:59:24,920
actually like that about. So there's a part of me

1071
00:59:24,960 --> 00:59:27,320
that's like, look, you've got to leave time to see

1072
00:59:27,840 --> 00:59:30,159
because you know, there could be certain things that I

1073
00:59:30,159 --> 00:59:32,519
think he did incredibly wrong. And if it if it

1074
00:59:32,679 --> 00:59:35,159
ends up with a really good trade deal or something

1075
00:59:35,199 --> 00:59:37,559
like that with China, then you're like, you know, it's

1076
00:59:37,920 --> 00:59:40,000
kind of like a team running a crazy trick play

1077
00:59:40,000 --> 00:59:41,559
that you never think is gonna work, but it goes

1078
00:59:41,559 --> 00:59:44,840
for a touchdown, right Like you're like, hey, well, good call.

1079
00:59:46,079 --> 00:59:49,920
On the implementation side of it, though, I'd probably give

1080
00:59:50,000 --> 00:59:54,599
him like a C minus. And the reason why is

1081
00:59:54,639 --> 01:00:02,199
because of what you've seen today, meaning yes, meaning I wouldn't.

1082
01:00:02,440 --> 01:00:06,199
From the very beginning, I thought it made most sense

1083
01:00:06,920 --> 01:00:09,960
to go to all the people that you've got serious

1084
01:00:10,119 --> 01:00:14,519
leverage with, including good trading partners, allies, all that kind

1085
01:00:14,599 --> 01:00:17,519
of stuff, rework the things that need to be done

1086
01:00:17,639 --> 01:00:22,360
behind closed doors, talk about how all these unfair trade practices,

1087
01:00:22,400 --> 01:00:27,119
and Americas say all that stuff without referencing somebody in particular,

1088
01:00:27,760 --> 01:00:32,360
right just And the reason I say that is specifically

1089
01:00:32,440 --> 01:00:34,800
as it relates to China. You and I both both

1090
01:00:34,840 --> 01:00:36,719
know that, but I think the average American does not

1091
01:00:36,840 --> 01:00:41,599
understand saving face and all that kind is a huge

1092
01:00:41,639 --> 01:00:45,239
cultural deal there. So when you attack frontally like that,

1093
01:00:45,920 --> 01:00:48,960
you start to limit the outcomes in a real way

1094
01:00:49,000 --> 01:00:52,199
that I don't think makes sense to us as Americans culturally.

1095
01:00:52,280 --> 01:00:52,480
Speaker 1: Right.

1096
01:00:53,840 --> 01:00:56,920
Speaker 4: But then you go to China, in my opinion, with

1097
01:00:57,000 --> 01:01:01,639
more of a coalition approach and do it like look,

1098
01:01:01,840 --> 01:01:03,440
do it in a friendly way, and people are like

1099
01:01:03,559 --> 01:01:07,079
friendly with China, Yes, because guys, war is not an

1100
01:01:07,079 --> 01:01:10,480
outcome that anybody wants. If we can get China, even

1101
01:01:10,519 --> 01:01:13,079
if they're not happy about it, to come along and

1102
01:01:13,159 --> 01:01:16,199
at least play by the rules that that is the

1103
01:01:16,199 --> 01:01:20,000
best outcome right now. It may not mean that we

1104
01:01:20,079 --> 01:01:22,000
don't have to deal with them at some point down

1105
01:01:22,039 --> 01:01:25,559
the road anyway, but bottom line, it buys us time,

1106
01:01:25,960 --> 01:01:28,320
It helps heal our cup. Right, There's there's there's so

1107
01:01:28,639 --> 01:01:31,920
I would have preferred he roll it out differently, But

1108
01:01:33,119 --> 01:01:36,360
that being said, I would much rather have an A

1109
01:01:36,519 --> 01:01:39,519
and implementation and a C minus or excuse me, an

1110
01:01:39,519 --> 01:01:41,960
A in principles and A and a C minus and

1111
01:01:42,000 --> 01:01:46,320
implementation than A than an NA. Right, And and we've

1112
01:01:46,320 --> 01:01:48,360
had na's for thirty years.

1113
01:01:48,679 --> 01:01:52,559
Speaker 1: Absolutely well said absolutely, did not attend class, did not

1114
01:01:52,639 --> 01:01:55,039
show up, did not write a paper, did not participate.

1115
01:01:55,119 --> 01:01:58,559
No participation in trophy for you love it. Yeah, well,

1116
01:01:58,599 --> 01:02:01,480
said God bless wise counsel day. Thank you.

1117
01:02:01,599 --> 01:02:01,840
Speaker 2: Zach.

1118
01:02:02,400 --> 01:02:05,039
Speaker 1: Always employ a joy, know your Riskgraded dot com is

1119
01:02:05,039 --> 01:02:08,639
where you go get Zach's podcasts. And I can't say

1120
01:02:08,639 --> 01:02:10,400
the other thing because then I have to do the disclaimer.

1121
01:02:10,480 --> 01:02:12,719
But there might be an entry form there for a

1122
01:02:12,800 --> 01:02:14,320
thing you could do, and then you could talk to

1123
01:02:14,400 --> 01:02:16,679
Zach and he could look at some stuff and help

1124
01:02:16,679 --> 01:02:18,679
you figure out your life and your money. And that

1125
01:02:18,840 --> 01:02:20,960
did not have to stop there, because otherwise I have

1126
01:02:21,039 --> 01:02:23,559
to say the whole fact. I'm not gonna say, all right,

1127
01:02:23,599 --> 01:02:26,599
this is Todd, don't do it. This is the Todd Hermanshew.

1128
01:02:26,639 --> 01:02:29,639
Please go, be well, be strong, be kind, Please make

1129
01:02:29,639 --> 01:02:32,199
every effort to walk in the light of Christ.