Speaker 1: Hey, it's Wise Council Day on the Todd Herman Show.
My friend brother Zach Abraham joined US chief investment officer
Bulwark Capital Management, and we'll do that courtesy a visible
If you are a medium or small sized business owner
and you've decided to not have corporate credit, congratulations, you
have pierced your own corporate veil with your retirement account
and bank account and home at risk. So let them
fix that with you, super easy, seven steps. It's go
bisible dot com. And we can't do anything that really
matters without God Almighty, So thank you Lord.
Speaker 2: The Todd Herman Show is one hundred percent disapproved by
big pharma technocrats and tyrans everywhere from the high mountains
of Free America. Here's the Emerald City exime Todd Herman.
Speaker 1: Today is the day the Lord has made in These
are the times to which God has decided wish to live.
My friend and brother, Zach Abraham joins me. Zach, welcome back,
great to have you always, good to be here. I'm
going to drop news on you right now here, breaking news.
This just came out, so you ready for this.
Speaker 2: Yeah.
Speaker 1: A federal judge and her name is Jennifer Thurston has
issued an order banning the Border Patrol from arresting illegal
aliens unless they have a warrant, and Senator Mike Lee
points out that eight US Code thirteen fifty seven expressly
authorized as a border patrol to make warrantless arrest for
immigration violations, particularly the person is entering the US illegally.
But but she says, you don't get to do that
no more. I you wanna call a.
Speaker 3: Friend, Yeah, I just I just wonder, you know, I
was just having this, I was just having a conversation
with my employees about this.
Speaker 1: Yeah, and.
Speaker 3: It's it's you know, I'm sure we all probably feel
this way, but this stuff is really concerning to me
because it's it's suicidal, it is insane, and I think
it is emblematic of a much more serious problem than
just a really stupid judge, which clearly this is what
it points to is a judicial system that is completely
out of control. It does not understand what their constitutional
duties are. And if I was king for a day,
I would do whatever I could to that judge and
to any of these judges that have issued these same
kind of orders, yep. And I would try to drum
them out of the business, and I would try to
have them disbarred that it's these are acts of sedition,
plain and simple.
Speaker 1: I'm more to the point where I'm going to say
he's act calm down.
Speaker 3: Yeah, border security needs a warrant. That that's what their
job is. And by the way, that that's cops arest
that's the whole point.
Speaker 1: Cops arrest people that warrants all the time. That's what
probable causes for right right. I saw you break into
that house and run out with two TVs. So you're
under arrest. Do you have warrant?
Speaker 3: Uh?
Speaker 1: Well?
Speaker 3: I was like, I was listening to Michelle Obama talking
about this the other day and she goes, I'm just
really concerned for people of color, you know, especially immigrants
right now. And I'm sitting there going why you're concerned
about them? Here? Here, here's a tip. If they come
in legally, you don't need to be concerned about them.
But if you break the law, that's a way to
think about it. If you break the law, you probably
should be concerned. I did this. We're at a point now,
and obvious our culture is not awake enough to realize this,
but we're at a point now where these people are
literally looking at you and saying, we have absolutely no
problem torching the constitution if it means us winning politically.
Speaker 1: Well or torching the nation and the electoral college.
Speaker 4: It's short, right, it's it's yes. It is political scorts earth.
So here's the deal that that for me is this
is stoppable. And what Republicans can do is they can
defund these courtpositions. It takes a lot to impeach a judge.
It doesn't take a lot to defund the district court position.
Speaker 1: Oh gosh, you know what, you don't get paid anymore.
No deposition is defunded. It doesn't exist. And they are
not taking this seriously. They're they're refusing to stop this.
And I'm going to tell you, Zach, there are plenty
of Republicans who are more than happy to let this
slow walk because here's what they're saying, here's the political calculus.
Trump has high approval ratings. Don't ignore that ridiculous poll
where he had the lowest approval ratings in it in
one hundred years. The way they did that is they
radically understampled Trump voters and conservatives. So I mean, I mean,
and they have like thirty four percent of the people,
and that were Trump voters, so radical understampling, and they're saying,
let president Trump. He likes the credit, he likes the spotlights,
he's got the hundred day actions, he's got the executive orders,
but he's not making any real change because executive orders
can be undone. So you got people like Mike Johnson,
who isn't even going to get to the President's quote
big beautiful bill until July fourth, Happy, happy to let
this slow walk because all the Trump voters can say,
look at the massive change, and professional DC is going
nothing's changed. Yeah, right, And so what does that get you?
Here's what they're betting it gets people, I think, and
can tell me if I think I'm wrong. I think
they think, Okay, they've had their temper tantrum, they got
to have their Orange man, he got to go do
his Hitler thing for a little while. Now we go
back to business as usual. Do you think that happens
or do you think people who want America back say, okay,
Trump was an extremely and if we need someone work stream.
Speaker 3: I mean, history would say you go that way, right, yeah,
and then and then you know you made the Hitler reference.
Speaker 1: Well, look, I thought a lot about that, and I'm
the first to do that, so I'll take all the
slings and arrows because it's a radical thing, and I
understand that it's it's never been done. So if you
don't want to be involved in that, because I know
it's never been said about Trump, so yeah, you feel
free to distance yourself.
Speaker 3: No, no, no, no, no, no no. I I recently heard
James Carville. Okay, Now, James James Carville is a guy
that I very seldom agreed.
Speaker 2: With, but.
Speaker 3: He he you know, he was the rage and cage
and kind of the old old southern Democrat. He kind of,
you know, back in the day he sort of flirted
with blue blood or blue blood Democrats. Listening to him
come out and call Trump Hitler, that was astonishing to me. No,
just because I'm looking at him, going, okay, man, I
expect this out of mental troglodytes like joy Read and
idiots that don't even not expel their own name. But
you he, I mean, what what what kind of ridiculous
garbage are you spewing?
Speaker 1: And Jimmy Carvell is sitting in front of a bookcase
filled with bourbons and saying, we know all the education
are Trump Trump has syphilis. Uh you know he wears
that red hat. That's a syphilis. It's like, and this
is the guy who got Bill Clinton elected. And he
kept saying it's it's economy stupid. And he's married to
a Republican woman. Tell me how the marriage works.
Speaker 3: Yeah, I don't know.
Speaker 1: I don't know. Okay, we did to some economic stuff,
but we got to get to some Hollywood stuff. You
have you had your saying this, Have you had your
say I feel like I interrupted you. I'm sorry, I'm
agitated today. I'm agitated, but I am judge. I'm agitated.
Speaker 3: I am too. Yeah, I am too, and I and
and I'm all so like I said, it's funny that
we're having this conversation today because I was talking to
my and you know what, I'm hoping it's just a
mood from me, but that that story about the judge
just adds to it. And the and the thing I
told my employee and look, man, you know me, I'm
not Don't anybody think about this as me like giving
up or being discouraged or whatever. Yeah, but I did
look at him and I say it said you know,
something's very concerning to me right now is the backbone
and the intestinal fortitude of this culture has been eroded
to the point where you literally have Trump putting in
practices that were pushed and promoted by Gnoam Chompsky forty
years ago, and these people are calling him Hitler for it, right.
It just like where I'm sitting there, going, we have
we have become so limp wristed and so incalcitrant and
so unable to deal with any level of hardship that
the stock market's down six percent on the year, it
should be down thirty. We won't even get to that.
This to me, what you see going on with stock
market is eerily similar with what happened before, right before COVID,
Meaning the market's just taking crazy pills, not looking at
the situation in front of it. That's another scenario or
that's another discussion entirely, but looking at this and going,
we literally have a guy that is putting into practice,
like I said, things that Nobl Chomsky was advocating forty
years ago. This should be like traditional what would be
considered Democrat positions, right yep. And they don't just like it.
They're crying about losses on Wall Street about it. You
can't make this up. You cannot make it up. And
if we can't take a fifteen to twenty percent pullback
on the SMP five to right the wrongs, to stop
the whole saling of middle class jobs by corporate America,
to boost corporate profits another ten percent, if we can't
take that, then we're done.
Speaker 1: Trump made a point today and he's getting derided for
it because there's a toy shortage coming. So let me
share this with you in just a second, because this
was a great quote, and I'm going to try to
get to some Hollywood news because it's actually good news
I wanted to share with you. But you said something
about the GDP print, so that's intrigued me. We need
to get to that. Then you just said something about
pre COVID economy, so we might need to sweep the
whole show aside and focus on that because that sounds
like something very very important. Something else that's super important
is your health, and you know this, I'm a fanatic
for it. And someone said the other day and this
was a sad conversation, was of a conversation with a
man who's a type two diabetic, and he was talking
to me about, hey, how did you get this all
out of control? Used to weighree hundred and eighty pounds,
And we had a very very typical conversation. And I'm
hearing the gentleman talk about, well, I only eat good
bread and I only eat good rice. And I'm like, no, brother,
that can't get you there. So I said, how much
do you want me to talk about? I found myself
talking through all the alternatives to that. The ketogenic diet
and the fact that a highly metabolic exercise had hit
form is super helpful that way, the CrossFit dynamic, all that,
and you better believe I absolutely, absolutely absolutely preached muscle
composition with this guy. This isn't ever talked about. If
someone tells you you're fat, they don't know what they're
talking about until they actually measure your fat. I mean,
you can look at someone and say they're obese. But
there's a thing called skinny fat, and skinny fat can
be worse than fat fat because people think they're in
good shape. What that is is lack of muscle. If
you're a runner or a biker or a swimmer, it's
much less throw with swimmers but runners and bikers are
notorious for this. People who hike for fitness are notorious
for being skinny fat. That is where you look good,
but you've got thirty nine or forty percent fat in
your body. It's all visceral, it's all inside. You are
the people who should go pick up mass simes because
mass simes can help you maintain muscle and grow muscle.
You should be adding resistance training to your aerobic training.
You've got to do that. But you've got to go
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use promo code Todd. Make sure that you do that.
So Zach, yep, yep.
Speaker 3: Hey quick comment. I want to let you know that, Zach,
and smell my wife are now on mass size. There
it is the yep, four days now okay and uh
I okay, it's kind of a weird one. Go ahead,
get it. I've noticed. I've noticed right out of the gate.
Better sleep.
Speaker 1: I'll tell you why. If you won't know magnesium, Nope,
I'll tell you what you know what to know?
Speaker 2: Yeah?
Speaker 3: Why? Yeah, I'd love to know.
Speaker 1: Okay, because it's moving stuff through your system faster, because
you might argue to you noticed something else, Uh, a
happy time in the bathroom in the morning. There's a
clearance of of back of backlogged inventories. What I'm saying
it increases bloating. It actually makes you less tired because
when your body is well metabolizing protein, you will have
more energy. Because if your body is starved for protein,
you'll end up super tired and that equals really bad sleep.
And then it's doing it with the bloating. Now, give
us give us this though, give us the give us
the guns, get out of here. And I think should
do that. By the way, if you've not met Zach's wife,
a very beautiful lady. But she's she she's got some
she's got some fitness on her.
Speaker 3: Yeah, she's yeah, she is. She she's gotten really into,
really into yoga, and now she's starting to now she's
starting to lift weights.
Speaker 1: My way is starting to do that. And she yeah,
she hit her first ever PR deadlift and it was
super It was super inspiring to watch her do this
because we're adding a little bit of weight and and
first time she she hits the she goes for something,
you know, really heavy for her, and I, okay, I'm
calling it because I said, hey, your knees are coming in.
The forum's going away, I'm calling. She goes, no, no, no,
I can do better. This is the I love it
that she she gets down to the setup and she
lifts that thing and and and pops up and and
drops it. And she got twice what she thought she
would get. And I kind of knew where she'd land.
But then I'm sure that's it. We got done to
the work. She goes, that's all. That's all today. Sometimes
that's the thing. Sometimes you just come in here with this.
It's so inspiring. All right, let me get back to
where we're at, because we were on a pretty decent run.
You said some things that really intrigued me. Let me
share with something. Donald Trump said the president was. He
brought in adversarial media. He brought in CBS. He brought it,
i think an NPR person and sat and let them,
you know, assault him. And they were talking about a
toy shortage. I love what Trump said. We didn't have
the sound bite. He said, maybe the kids will have
six dolls instead of twenty and he's no, and they're
deriding him for this, and oh, Baron never had toy shortages.
Do you know how wise that statement is. Here's the thing, zach,
if our country cannot deal with. There are things you
don't need. Okay, there are things, and China is glad
to convince you that you need them. You don't need
twenty dolls. I was looking at a thing the other
day to trim body hair. I don't need that, and
God knows that comes from China, but man, has the
world convinced me that I need that?
Speaker 2: There?
Speaker 1: I had a stirr. I had a thing that was
it was you'd put it into a coffee cup a swiffer,
shh it to stir my supplements. And when that thing
died and it was like this cheap, it made thing
from China. When it died, I was so stink and sad,
I need another and you do? You do because your supplements,
you can't shake them.
Speaker 3: You're gonna get all.
Speaker 1: Tired shaken your supplements. And then you remember you could
use a fork, a fork, I could use the muscle
I built with the Mass Times. I couldn't shake a
cup before Mass Times. I don't know about you. For
a Mass Times, I couldn't even shake a cup. So
and they've been brilliant at this. But Trump says this,
and people have they unfold their minds. This is why
then astacs down. He doesn't care about kids having access
to toys. And then conservatives saying this, there's a bunch
of conservatives saying, oh, oh great, now we're gonna bash consumerism. Yeah,
when consumerism means we're gonna addict ourselves to the Chinese
Communist Party owning the short hairs of our major companies.
We can't sustain. You're not gonna have a swiffer to
stir your supplements, and your kids aren't gonna have you know,
twenty five dollars that, Zach. The conservatives better understand something.
You better figure out what you're trying to conserve, and
you better be conserving American independence and energy. And we
also got to talk about the blackout in Europe. You
saw that in Spain and Portugal. Yeah, oh yeah, okay,
so we talk about that. But that's that's what Trump said.
Speaker 3: I love that.
Speaker 1: I think that's a great response.
Speaker 3: No, he's dead on. And this is one of the reasons.
I don't know if you remember. I want to say
it was about two months ago or about a month
ago when we when the tariff talk started in ernest
and I was saying, I really hope the administration gets
out in front of this because there will be pain
that comes along with this. This is going to hit GDP,
it's going to hit the economy. It is worth it, right,
We and and and here's the deal. We have punted
this issue for thirty five years.
Speaker 1: Yep.
Speaker 3: Okay. The longer you punt it, the more uncomfortable it's
going to be when you deal with it. So buckle up.
Quit being a candy you know, candy blank Yep, it's
my it's my grandfather used to call us that all
the time. If we weren't we weren't toeing the line.
Speaker 1: That's right, Candy bass like a fish, Yeah, candy bass.
Speaker 2: Yeah.
Speaker 3: It's one of those fish right, right, and and suck
it up. The other thing is, don't be a moron, right.
Speaker 1: That's solid advice.
Speaker 3: Just because the economy goes down and the stock market
gets hit for twenty to thirty what did you think
was gonna happen? Right, we're up six percent on the
ear Why because we knew bad things were gonna happen.
Be defensive, like if people act like there's nothing they
can do about it, For God's sakes, if you see
a slowdown coming economically into a market that's trading at
twenty eight times earnings, get out of the way. Get
out of the way. And if you think that this
is the worst you're gonna see, buckle up because it's not.
And guess what when the worst comes, because it will.
I'm not gonna change my tune on Trump. You know
why a twenty to five percent pullback in the S
and P five hundred is nothing compared to syringes, hypodermic needles,
be sees all over our streets, depression, opioid addiction, all
the stuff that has come, including record corporate profits, uh,
that has come at the cost of us shipping all
these jobs overseas, and if we got to have a
couple down quarters or a recession to deal with it,
then so be it. Bring it on.
Speaker 1: Okay, So I think I just figured out a way
that I can explain this for my monkey brain, which
gets hugged up in fitness and all that stuff. So
let me let me, let me see if I can
formulate this real second, while we talk about what's going
on with Visible. You, dude, my brother, you made a
smart call becoming a minority owner in this company. I'm
now reading the Google reviews. So first of all, let
me give you a quick explanation of the problem. So
this is the problem. Is this people like me and
believe or not? Zach, we get so busy. You know,
he's running a business. I'm running a media company. I mean,
this is a real business minus much smaller, but like, no,
it's true stories, Zach, you gotta I mean, dude, you've
stored people's funds, I say, garbage into a microphone all day.
Speaker 3: Yeah, it's a media empire. It's a media empire.
Speaker 1: Okay, So I run a media empire. Let's just okay.
So I don't want to do anything with paperwork or
taxes or touching and signing things. So I put stuff off.
I was an LLC for a long time. It became
a corporation. Oh now I'm protected. Okay. So then I
get a call and I have a consultation with the
folks at Visible. They're like, yeah, so you're not protected.
So a b your business has two credit ratings? Did
you know that your your new corporation? How because it's
a corporation. Wait, is it a good credit rating? No,
it's horrible. Oh okay, so what do I do? Here's
what Bisible does. Visible and seven easy steps separates your
business from you. It has nothing to do with your
Social Security number. It has nothing then to do with
your personal assets, your retirement accounts, your bank accounts, save
these account kids, college fund, your house. That's all separated.
Then they build corporate credit, real credit, which gets much
It gets builds much faster. It's not a bunch of accountants.
You're not doing much. You're not pushing paper, you're not
doing the research, you're not paying lawyers. Bisible makes this
seven easy steps. There's a few things you do on
your own, and guess what they will hold your hand,
then pet your cheek. Ause you go through it, it's okay,
we'll get you through this, and then I'm reading the
Google reviews. This is act. This is why you made
such a smart call. Brian COB's right. I would recommend
this company to any sophisticated CEO or business owner interested
in improving the business entity's credit score. Dialing in the
foundational documents to improve the company's ability to borrow money.
Guarantees by the business ei in and not a personal guarantee,
significantly increases the company's qualifications for substantial loans to be
used for accelerated growth, operational cost purchasing assets or equipment.
There's much more to visible, but they're an outstanding team
with a business owner. Outstanding it teaming with business owners
to grow their business and consult on financial sophistication. Five
stars Susie Williams, five stars. You made a good, solid
call and getting cooked up with these guys at Their
website is go bisible dot com. And this is my
guarantee you might have another zach My guarantee. You take
the free, no obligation consultation with the team at busible.
You're going to learn something about corporate credit and probably
something about your business. It's go bisible dot com be anything.
Speaker 3: That no other than the fact that the funny thing
is is the reason I invested in, other than really
believing in the in the person who happens to be
a very close personal friend of mine who started it.
But it's the old Peter Lynch version of investing, which
is and for those that don't know, Peter made his
name by running the magel And Fund for Fidelity for
years and years and years. I think he averaged twenty
eight twenty nine percent compounded. He's considered one of the
greats of all time. But he talked about how you
know you make this You make this business way too complicated.
Walk through this, walk through the mall and figure out
which store has the biggest line, and figure out why
what do people want? Look at companies where you like
their products. And I remember when Brian first called me.
I sat there and I went in the back of
my mind, I have known for years that I am
completely personally exposed in my business because I have underwritten everything,
all of the credits in me and my wife's name,
and I I've known that I need to transition this.
But I also have a business where I'm managing eight
hundred and fifty million dollars and I've got eighteen employees
and all this kind of stuff. I know that anytime
I spend not focused on my business, I'm not helping
my clients, and I'm not helping what really matters, right,
and the idea that I can take care of this
while at the same time outsourcing it. I just sat
there and I went done. I signed up right away.
Then I looked at Brian, I went, wait a second,
why don't you help me expand this and I'll do
ECAB and c and I'll own a piece of the deal.
Just because, like I said, it was that simple. It
solved so many issues for me and dealt with something
that I've been putting off for so long, and did
it at a cost that I couldn't justify. I've been
meaning there's no way I could have done it for
that same cost or time. And so it was like, yes,
I'll do it right now.
Speaker 1: None I can do the math. In the back of
my mind, I need an accountant and a business lawyer
and me need to get these set up and set
up this credits. And I can look at that and say, okay,
that's six hundred an hour or a minute. No, it's
totally to other say hey, it's go visible dot com.
Scott's Best sent, so I think you like the new
Treasury secretary, help us understand this. On the tariffs, because
they're still going back and forth with China. The president
has taking some tariffs off, he's put some tariffs on.
It's a moving target and somehow I tend to think
that might be now a purposeful thing because she's not
going to be able to target anything. So hey, we're
gonna have to sit down. Here's what Best said. He said, Remember,
we're the deficit country. China sells almost five times more
goods to us than we sell to them. So the
ones so the owners will be on them to take
off these tariffs. It's unsustainable for China. So it seems
to me China's got much more depending on products continue
to come here than we do. All we have is upside,
all they have is downside? Is that a way to
say this?
Speaker 3: I would say that they they have. Look anytime you're
dealing with anytime you have a trade war where one
or what company is running a trade surplus and the
other one is running a trade deficit. Ironically, contrary to
what most people would think, the trade deficit country has
the leverage right now, would I say there's nothing but downside? No,
I mean, like I said, it's going to hurt us too.
The other thing is is you have to consider the
fact that China is a has a closed capital account,
and what I mean by that is they control how
much and when their citizens move money outside of the country.
The big point about bringing that up is A, they
don't have to worry about capital flight nearly as much
as we do. But b because they have a closed
capital account, it gives them far greater latitude and far
greater flexibility as it relates to them printing money right
because it's going to stay internal. Basically, if you've got
a close capital account, it's like a closed loop. You
print the money, it doesn't get outside of your economy,
so it's much less likely to hurt the value of
your currency. So but generally speaking, yes, they do have
more downside than us. The concern that I have is culturally,
meaning this gets back to the point you and I
were talking about. At a certain point, if you've got
to sustain trade war, it is similar to a military conflict,
and that whoever's populous can stay with the cause longer
has a serious advantage.
Speaker 1: That's right exactly. And they're populau to stay at the
cause of honor because guess what the Chinese Communist Party
will say, Yeah, we'll kill you if you don't.
Speaker 3: Know social crediting score too. Right. I better stick with
the cause where I won't be able to buy bread. Right.
Speaker 1: Oh, so you don't like our policies. How do you
like your front teeth? Right? Maybe you don't like those ether.
So here's I'm looking at the United States and this
comment Trump made. Maybe kids won't have you know, twenty dollars,
they'll have six or you know, I'm thinking of people
going but wait a minute, you're talking about Mike Keebler
elf cookies. They might double the cost because it have
be made here. I needs my keyboard Elf cookies. And
I now this sounds horribly judgmental and a reminder. My
dad was an obese man his whole life. I was obese.
I wigh almost four hundred pounds. I do not judge
people by body size. I do not. This is descriptive
of an economy. I'm looking at a stock market that
was twenty eight points up ahead where it should have been,
despite the problems, despite the trade where we are in,
despite the fact that we have an economy now that
is changing in terms of populace as people self deport,
all these factors. That's a fat economy. And you can
look at it and say, economy, you have trouble getting
off the couch. The American economy is a noisemaker getting
off the couch, but they're not doing anything about it.
So when that American economy suddenly loses eighteen pounds, you
have people coming along and oh wait, wait, wait, you're
super skinny. No, the economy is still obese, just not
as obese, and it's panicking people. So we have become
in terms of creature, so the comforts like my stir
for my supplements, we've become addicted to the fat and
people just can't stand seeing it good way. So did
you see Bezos and Amazon float this idea on their
value website of calling out the tariff prices?
Speaker 3: Yeah?
Speaker 1: I did, Yeah, that and that last long.
Speaker 3: No it didn't and and I I was, I'll be
honest with you, I was a bit surprised, you know,
I was a bit surprised by the reaction Okay, you know,
because generally I'm you know, I'm a Frian. I'm a
fan of transparency. I think people have a right to know. Yeah,
that being said, it was a bit of a head
scratcher because you're like, Okay, this is clearly designed to
make Trump look bad, right, which which I don't really
unders because I've gotten the vibe from Bezos that he
would have preferred Trump over the alternative.
Speaker 1: Okay, so true, And I think Bezos is still used
to being able to take a politician and do kind
of what he wishes. And here's the thing about Trump
and his people. Carolyn Levitt has gone to the Trump
school of communication. She's gone to this Trump school of
you speak truth to the media, you don't care what
they think. And her response immediately this was a hostile
political act and speaking for the president, why didn't they
call out the nine and a half percent inflation under
Joe Biden? And I think that Jeff Bezos's people probably
went back to him, or he went to them. Maybe
he wasn't even aware of this, that's probably, and it
could have had a phone call from Bezos going what
are you thinking? This is not the guy you do
this with? Because he can hurt us fifteen different ways,
and he's willing to do that. Because trade wars aren't
just external Where have you a trade war within the
countryes Act?
Speaker 3: And And one of the things that is the most
frustrating me about it is I look at these people
and I go, do you recognize the situation with China's untenable?
Speaker 2: Yeah?
Speaker 3: What do you suggest we do? What do you suggest
we do?
Speaker 1: Right?
Speaker 3: And go talk to them? What would you like to
talk to him about? But if you think a if
you think they're going to cut you a sweetheart deal
with in the absence of some type of sort of
damicalles hanging over the top of their head, you're out
of your mind because they've got to in the current setup,
they have all the leverage. It's all upside, zero downside
for them, right. So you so you expect them to
come to the table with the deal that gives that away?
Why would they? Why would they? So the way you're
going to get them to the table is by now Again,
I would have rolled it out slightly differently. At the
end of the day, I doubt that it'll make much
of a difference. But you got to come out if
you know more, in my opinion, more stick out of
the game. I had you dealt with this back in
the day, like four five before Z took over, you
could have, but we didn't. We didn't deal with it
back then. Okay, So because we didn't deal with it,
because Bush punted, because Obama punted the scenario, remember the
pivot back to Asia. Can anybody tell me what that
pivot did.
Speaker 1: It's spun a surround.
Speaker 3: Yeah, yeah. Other, I mean we were just yeah, we're spinning.
We're just doing three sixties on the street corner, right.
Speaker 2: Yeah.
Speaker 3: So, so everybody's punted. Everybody acknowledges it. Tallet hauled out
our economy. Everybody's knowledges. It's killed the middle class at
the expense of the wealthy. It has played a big
part in generating that in federal reserve activity, in my opinion,
are the two biggest culprits for creating the greatest wealth
gap in the history of this country. And again I
would say, so, do you not want to deal with that? Yes,
I want to deal with it. How would you like
to deal with it? Well, well, we should talk to him.
We have talked to him. Yeah, we talked to him
for a long time.
Speaker 1: There are people who are significantly hurt by us having
this conversation emotionally, and I'll tell you, I want you
to answer this to me. Okay, I got a note
from a listener who's big has been with me since
the Limbaugh days, you know, local radio doing national for Rush,
since prior to the podcast, prior to the radio mecro Shure,
prior to the American Family Radio Show. He loves you.
He makes a point of listening. He builds, So his
job is he builds things, and he uses his hands
and he welds and he puts things together that have
helped this country. He's dependent upon steel. And what he
said to me is when I backed Trump, when I
hear you guys talking this way, I hear you saying
my job doesn't matter to you, and I had a way.
I had a way. I responded, that's what he's heard,
and he said, I'm saying this out of love. I'm
not accusing you. That's just how I feel. So think
about that. I think about that for a second. Okay.
We have a lot of products on the show that
are American products. One of the key ones is Alan Soaps,
and Alan's is made in the United States of America
by a family. It's not a big corporate thing. Understand something.
There is no Alan's skyscraper, there's no Alan's beer. Alan's
exists for a very very specific reason is to employ
people that the Left would say don't matter. And I
mean don't matter. Okay, that's what they would say about Alan,
who's been through all these operations. He's effectively nonverbal, and
yet he is a genius at soaps. And he is
a smart kid who goes to work every single day
inventing fragrances but also packaging quality control. That's Alan's the
family that makes this, three generations of expertise. They love
this because employing Alan and Ian also impacted by autism,
Amy who got autism late in life. That's the soap company.
Speaker 2: Yep.
Speaker 1: There are wash costs. They're the softest I've ever seen.
There's soap racks. They're very, very helpful. But there's no
empire building. This is about employed people by making excellent soap.
So buy the soap. Wash your body with excellent soap
that goes beyond just soap. It's Alan Soaps dot Com.
Sash Todd get ten percent off all the products there,
get some for your friends, put them in your business.
The hand soap is a great thing to have in
your business. It's a conversation starter. Alan Soaps dot Com,
Sash Todd. So I'll tell you kind of what I
said to this brother, Zach. First I wrote him back,
and then I responded on the air and I said,
A that hurts me to know that you are feeling
afraid for your career. It hurts me to know. I Also,
I'm gonna bet that your dad, maybe a grandpa. I'm
willing to take pain so my daughter doesn't. I'm willing
to step up and do that. So I'm the one
who takes the pain. I'm the one who gets hit. Economically, Zach,
You're gonna get hit. I'm gonna get hit. Not to
degree that this gentleman's gonna get hit, but if this
isn't fixed now, it's going to crash in a way
that's going to affect your kids and your grandkids in
a much worse way. Controlled trade war where we have
some leverage, where we're fighting to bring these jobs back,
because that's ultimately we want. We want you building more stuff,
not less. A controlled war has a chance of an
outcome where you win and your grand kids win. Not
having this war guarantees your grandkids and your kids get
slapped super hard by the Chinese Commuist party and they
don't have work like this. That's what I said.
Speaker 3: Yeah, no, And I don't want to. I don't want
to be dismissive of that. I understand that that there
will be real economic pain felt here. I think that
all of us will feel some pain regardless, and I
know I feel for it. But it does remind me
of the you know the you know, they certainly weren't
the first ones to say it, but you know the
Steve Miller band song, you know you got to go
through heaven. You got to go through hell before you
get to heaven. And you know that's you got to
take some pain. And I understand what that means. It
does not miss me. It's not something I want to do.
You know, in my business, they not having this whole
situation would make life a heck of a lot easier, yep. Right,
And but in my opinion, specifically, to make sure that
your grandson has the abilities if he so chooses to
work with his hands and weld and work with steeve
in order to make sure that he has that option.
These are the these are the steps we got to take,
and it's just it's it's unfortunate. But again, we as
Americans need to look and we need to blame the
cause and not the symptom. Yep, right, What we should
be angry about is every politician that's punted on this
issue for the last thirty years, all right, all of them, right,
And and that's that's what's so infuriating to me about
this topic because it is not political. Both parties have contributed.
People on both sides of the aisle have gotten wealthy,
wealthy off of it, off the backs of middle class
workers and blue collar workers in this country and that
and and to see one party try to make this political,
it just infuriates me because I'm like, look, this is
the opposite of political. What we're actually discussing is one
of the serious issues we've got with this country. And
what do you refer to it? The the the middle party?
Right that that.
Speaker 1: That sandwich, right, yes, scheme people on top and compliance
soft people who know that they're only going to do
with the evil people tell them to do. In the
bottom and in the middle is America and saying I
want to live my life getting squeezed right, grit and
squeeze right. That is absolutely designed. You said something about
a new GDP print, and we need to cover that
real quick. Let me let me cover this. I have
an inadequate way of expressing this, and it really really
frustrates me because I know that in the podcast family
and the radio show family, I know there are people
who need to go to RENEW. And here's some reasons.
We were kind of brainstorming that. You know, we've had
incredible success. People who couldn't use their hands can use
their hands again because of the stem cells from umbilical cords.
People who couldn't walk up steps and I'm saying couldn't
do now because of RENEW. People who had trouble breathing
don't have trouble breathing anymore because of RENEW. In every
single one of those cases, their doctors said nothing we
can do. Then you have the cases where their doctors said, look,
the only thing that's going to help you is surgery.
We've got to cut into you. That's it. No, that
wasn't true, And people going back to doing what they
were doing, including a world class swimmer, went back to
doing what was doing. There's a reason professional golfers are
there all the time. So one of the things is
people say, well, I'm concerned about costs. Really, do you
know what it's gonna cost. I can't tell you because
I'm not you. I don't know how many stem cells
are gonna need. I don't know how many hyperbaric oxygen
therapy treatments are gonna need.
Speaker 3: I don't know.
Speaker 1: My friend who is a world class weightlift in fact,
just got another world record at the age of fifty nine.
Oh and by the way, you go deadlift seven hundred
and seventy five pounds at the age of fifty nine,
I do it. Try that out, Go squat that much
at the age of fifty nine. See how that feels.
He gets in touch with them, and in a couple
of days they've told him, Hey, here's the things we
think we could do. Here's the percentage chance of success,
here's how much it's gonna cost. He's a retired public
school teacher. He's looking at this going I'm in so
go find out right, don't make a judgment basiness. And
by the way, if you can't afford it, just tell them.
I can't you think they're gonna laugh at you. These
are working people, right, These are working people are gonna
go wow, you know what, maybe maybe in the future.
So go to renew It's our e nue dot Healthcare
and you e dot Healthcare. Please tell them you're part
of the Todd Hermanshaw family and they will tell me
that you got in touch and we can just track
the progress together. It's renew r E and you E
dot Healthcare. So you mentioned something about the new GDP print,
and then you mentioned something that our economy reminds you
of just before they announced the covid SI ups. So
let's start with the new GDP print and what that
means and what you meant.
Speaker 3: So, first of all, we'll start with the the The
way the FED is set up is that you have
these FED regional banks, right, So You've got the FED,
the Dallas FED, you have the Philly FED, you have
the Atlanta FED, you have the Chicago FED, and these
different networks of FED banks and and and each one
sort of runs or is looking at the economic internals
of that particular area. Now you get these surveys out,
you know, once a quarter from from those FED banks
telling you what they're seeing economically in their area. Okay, right,
you can never take one, you can never take one
too seriously or even two because oftentimes seasonality can impact
these things. Right, So you know, you'd be like, oh,
that looks like a horrible quarter down, and then you
look at the history of the survey and you're like, oh,
they always have a bad second quarter because in this
area of the country they do this, and that's a down. Right,
There's all these things, but when you see all of
them coming through with really nasty reads, you have to
pay attention, Okay, okay, And every single one of those
surveys has come back, every single Atlanta, Philly, Dallas, they've
all come back with readings that the only comps we
have to those readings are during the COVID lockdown and
oh wait on nine okay, so okay, things are coming
now right now. It is gonna be cover up a
little bit. And if you cruise around CNBC or any
of these financial sites, you'll see headlines about a negative
GDP print. But hey, don't worry because retail spending is
still really strong. Okay, Well, retail spending is too strong, okay,
And I'll explain what I mean. We show retail spending
up this quarter, up seven and a half percent over
where it was a year ago. Okay, that is virtually
all heir of front running. Okay. And the way you
can tell it is if consumer spending is up seven
and a half percent and you're getting negative GDP prints,
something's wrong. Okay, So that bright side of the equation.
What people are said, we're consumer spending that is purely
front running of tariffs, which is you. And the reason
it's impactful is think about you're not front running cabbage
patch dolls for tariffs, despite with people on the news
with your front running appliances. You're front running automobiles, you're
front running ticket items. So remember consumer spending is just
an aggregate measure of how much the consumer spent yep.
So that is looking artificially inflated for now just based
on front running. Even with that front running, you're still
posting negative point eight percent economic growth this quarter. Okay,
it is not pretty. So the now what you have
to think about is, Okay, what does this look like
without tear of front running on it. I don't know
what the number is, but you're probably looking at a
negative two maybe two and a half percent negative print. Okay.
All of this is in a backdrop of a market
trading at twenty eight twenty nine time nine times earnings, okay,
which is almost double its long term average. Okay, this
is why we're telling people, guys, you have to manage risk.
Do you know how many of those listeners out there
right now are sitting on mountains of piles of apple?
Apple is now one of our largest short positions in
our book, and the reason why they are getting hammered
in China. Now, watch me say that I think they're
announcing earning today, so they'll probably come out with some
kind of earning surprise because people front running tariffs trying
to buy iPhones. But you you look at that company,
it's just insane. No one's paying attention, and uh, this
is gonna hurt. It's gonna hurt, and there's no way
around it. And I'm not I'm not happy that it's
gonna hurt, yep, but it's it's happening, and and and
you see all these investors just caught flat footed just
staring at it. And you're going, guys, get out of
the freaking way.
Speaker 1: The only way around this is to be an old
man in your deathbeds and your your kids don't have work.
They you know, they are trying to live subsistence and
China controls everything, and and you sit and their kids say,
why did you let that happen? Well, I wanted you
to deal with it.
Speaker 3: Yep, I got I wasn't.
Speaker 1: Gonna do it. It's gonna be on you, guys. Yeah,
A great way to say that. Always good to have
wise cancel from you, my brother. Thank you very very much,
and thank you for getting on to the Mass SIMS
and the good report on that. Thank your wife as well.
This is the Todd Herman Show. Please go, be well,
be strong, and be kind, and please make every effort
to walk in the light of Christ.