1 00:00:00,480 --> 00:00:03,000 Speaker 1: Hey, it's Wise Council Day on the Todd Herman Show. 2 00:00:03,000 --> 00:00:06,120 My friend brother Zach Abraham joined US chief investment officer 3 00:00:06,200 --> 00:00:09,919 Bulwark Capital Management, and we'll do that courtesy a visible 4 00:00:10,119 --> 00:00:12,560 If you are a medium or small sized business owner 5 00:00:12,599 --> 00:00:16,000 and you've decided to not have corporate credit, congratulations, you 6 00:00:16,120 --> 00:00:19,120 have pierced your own corporate veil with your retirement account 7 00:00:19,160 --> 00:00:21,359 and bank account and home at risk. So let them 8 00:00:21,399 --> 00:00:23,760 fix that with you, super easy, seven steps. It's go 9 00:00:24,000 --> 00:00:26,600 bisible dot com. And we can't do anything that really 10 00:00:26,600 --> 00:00:28,480 matters without God Almighty, So thank you Lord. 11 00:00:30,399 --> 00:00:33,840 Speaker 2: The Todd Herman Show is one hundred percent disapproved by 12 00:00:34,000 --> 00:00:42,039 big pharma technocrats and tyrans everywhere from the high mountains 13 00:00:42,079 --> 00:00:50,079 of Free America. Here's the Emerald City exime Todd Herman. 14 00:00:52,880 --> 00:00:55,439 Speaker 1: Today is the day the Lord has made in These 15 00:00:55,479 --> 00:00:57,759 are the times to which God has decided wish to live. 16 00:00:58,439 --> 00:01:01,759 My friend and brother, Zach Abraham joins me. Zach, welcome back, 17 00:01:01,799 --> 00:01:04,879 great to have you always, good to be here. I'm 18 00:01:04,920 --> 00:01:08,280 going to drop news on you right now here, breaking news. 19 00:01:08,319 --> 00:01:10,000 This just came out, so you ready for this. 20 00:01:10,719 --> 00:01:11,000 Speaker 2: Yeah. 21 00:01:11,599 --> 00:01:15,959 Speaker 1: A federal judge and her name is Jennifer Thurston has 22 00:01:16,079 --> 00:01:20,359 issued an order banning the Border Patrol from arresting illegal 23 00:01:20,400 --> 00:01:24,599 aliens unless they have a warrant, and Senator Mike Lee 24 00:01:24,680 --> 00:01:29,439 points out that eight US Code thirteen fifty seven expressly 25 00:01:29,480 --> 00:01:31,560 authorized as a border patrol to make warrantless arrest for 26 00:01:31,560 --> 00:01:34,680 immigration violations, particularly the person is entering the US illegally. 27 00:01:35,439 --> 00:01:40,319 But but she says, you don't get to do that 28 00:01:40,439 --> 00:01:46,879 no more. I you wanna call a. 29 00:01:46,799 --> 00:01:54,079 Speaker 3: Friend, Yeah, I just I just wonder, you know, I 30 00:01:54,120 --> 00:01:56,040 was just having this, I was just having a conversation 31 00:01:56,079 --> 00:01:57,920 with my employees about this. 32 00:01:58,159 --> 00:02:00,400 Speaker 1: Yeah, and. 33 00:02:02,159 --> 00:02:06,920 Speaker 3: It's it's you know, I'm sure we all probably feel 34 00:02:06,959 --> 00:02:09,840 this way, but this stuff is really concerning to me 35 00:02:11,479 --> 00:02:18,080 because it's it's suicidal, it is insane, and I think 36 00:02:18,080 --> 00:02:22,000 it is emblematic of a much more serious problem than 37 00:02:22,159 --> 00:02:26,719 just a really stupid judge, which clearly this is what 38 00:02:26,759 --> 00:02:29,520 it points to is a judicial system that is completely 39 00:02:29,599 --> 00:02:34,280 out of control. It does not understand what their constitutional 40 00:02:34,360 --> 00:02:38,639 duties are. And if I was king for a day, 41 00:02:39,400 --> 00:02:42,719 I would do whatever I could to that judge and 42 00:02:42,759 --> 00:02:45,280 to any of these judges that have issued these same 43 00:02:45,360 --> 00:02:52,479 kind of orders, yep. And I would try to drum 44 00:02:52,520 --> 00:02:54,159 them out of the business, and I would try to 45 00:02:54,199 --> 00:02:59,759 have them disbarred that it's these are acts of sedition, 46 00:03:01,919 --> 00:03:02,680 plain and simple. 47 00:03:03,840 --> 00:03:05,199 Speaker 1: I'm more to the point where I'm going to say 48 00:03:05,199 --> 00:03:06,000 he's act calm down. 49 00:03:06,759 --> 00:03:11,599 Speaker 3: Yeah, border security needs a warrant. That that's what their 50 00:03:11,759 --> 00:03:14,080 job is. And by the way, that that's cops arest 51 00:03:14,159 --> 00:03:14,879 that's the whole point. 52 00:03:15,080 --> 00:03:17,840 Speaker 1: Cops arrest people that warrants all the time. That's what 53 00:03:17,919 --> 00:03:22,400 probable causes for right right. I saw you break into 54 00:03:22,439 --> 00:03:25,159 that house and run out with two TVs. So you're 55 00:03:25,199 --> 00:03:26,680 under arrest. Do you have warrant? 56 00:03:27,840 --> 00:03:28,280 Speaker 3: Uh? 57 00:03:28,280 --> 00:03:28,520 Speaker 1: Well? 58 00:03:29,240 --> 00:03:31,879 Speaker 3: I was like, I was listening to Michelle Obama talking 59 00:03:31,879 --> 00:03:33,639 about this the other day and she goes, I'm just 60 00:03:33,719 --> 00:03:36,639 really concerned for people of color, you know, especially immigrants 61 00:03:36,719 --> 00:03:39,800 right now. And I'm sitting there going why you're concerned 62 00:03:39,840 --> 00:03:43,719 about them? Here? Here, here's a tip. If they come 63 00:03:43,759 --> 00:03:47,280 in legally, you don't need to be concerned about them. 64 00:03:47,680 --> 00:03:49,879 But if you break the law, that's a way to 65 00:03:49,919 --> 00:03:53,879 think about it. If you break the law, you probably 66 00:03:53,919 --> 00:03:58,240 should be concerned. I did this. We're at a point now, 67 00:03:59,400 --> 00:04:02,960 and obvious our culture is not awake enough to realize this, 68 00:04:03,439 --> 00:04:06,479 but we're at a point now where these people are 69 00:04:06,520 --> 00:04:11,120 literally looking at you and saying, we have absolutely no 70 00:04:11,280 --> 00:04:16,560 problem torching the constitution if it means us winning politically. 71 00:04:16,879 --> 00:04:19,600 Speaker 1: Well or torching the nation and the electoral college. 72 00:04:19,600 --> 00:04:23,040 Speaker 4: It's short, right, it's it's yes. It is political scorts earth. 73 00:04:24,519 --> 00:04:26,800 So here's the deal that that for me is this 74 00:04:26,839 --> 00:04:29,759 is stoppable. And what Republicans can do is they can 75 00:04:29,839 --> 00:04:33,839 defund these courtpositions. It takes a lot to impeach a judge. 76 00:04:34,079 --> 00:04:36,639 It doesn't take a lot to defund the district court position. 77 00:04:36,959 --> 00:04:38,920 Speaker 1: Oh gosh, you know what, you don't get paid anymore. 78 00:04:39,560 --> 00:04:43,000 No deposition is defunded. It doesn't exist. And they are 79 00:04:43,040 --> 00:04:46,120 not taking this seriously. They're they're refusing to stop this. 80 00:04:46,240 --> 00:04:48,160 And I'm going to tell you, Zach, there are plenty 81 00:04:48,160 --> 00:04:50,040 of Republicans who are more than happy to let this 82 00:04:50,120 --> 00:04:53,560 slow walk because here's what they're saying, here's the political calculus. 83 00:04:53,959 --> 00:04:57,800 Trump has high approval ratings. Don't ignore that ridiculous poll 84 00:04:57,839 --> 00:05:00,279 where he had the lowest approval ratings in it in 85 00:05:00,319 --> 00:05:01,879 one hundred years. The way they did that is they 86 00:05:02,040 --> 00:05:07,160 radically understampled Trump voters and conservatives. So I mean, I mean, 87 00:05:07,199 --> 00:05:09,079 and they have like thirty four percent of the people, 88 00:05:09,079 --> 00:05:13,000 and that were Trump voters, so radical understampling, and they're saying, 89 00:05:13,079 --> 00:05:16,680 let president Trump. He likes the credit, he likes the spotlights, 90 00:05:16,800 --> 00:05:19,439 he's got the hundred day actions, he's got the executive orders, 91 00:05:19,480 --> 00:05:22,360 but he's not making any real change because executive orders 92 00:05:22,399 --> 00:05:25,000 can be undone. So you got people like Mike Johnson, 93 00:05:25,360 --> 00:05:27,519 who isn't even going to get to the President's quote 94 00:05:27,519 --> 00:05:31,439 big beautiful bill until July fourth, Happy, happy to let 95 00:05:31,439 --> 00:05:34,240 this slow walk because all the Trump voters can say, 96 00:05:34,240 --> 00:05:37,160 look at the massive change, and professional DC is going 97 00:05:38,480 --> 00:05:42,480 nothing's changed. Yeah, right, And so what does that get you? 98 00:05:42,680 --> 00:05:44,439 Here's what they're betting it gets people, I think, and 99 00:05:44,439 --> 00:05:45,800 can tell me if I think I'm wrong. I think 100 00:05:46,040 --> 00:05:49,319 they think, Okay, they've had their temper tantrum, they got 101 00:05:49,360 --> 00:05:51,120 to have their Orange man, he got to go do 102 00:05:51,160 --> 00:05:53,000 his Hitler thing for a little while. Now we go 103 00:05:53,000 --> 00:05:55,360 back to business as usual. Do you think that happens 104 00:05:55,480 --> 00:05:58,759 or do you think people who want America back say, okay, 105 00:05:58,920 --> 00:06:01,319 Trump was an extremely and if we need someone work stream. 106 00:06:03,519 --> 00:06:08,279 Speaker 3: I mean, history would say you go that way, right, yeah, 107 00:06:08,319 --> 00:06:11,439 and then and then you know you made the Hitler reference. 108 00:06:11,839 --> 00:06:15,279 Speaker 1: Well, look, I thought a lot about that, and I'm 109 00:06:15,319 --> 00:06:17,120 the first to do that, so I'll take all the 110 00:06:17,199 --> 00:06:20,560 slings and arrows because it's a radical thing, and I 111 00:06:20,639 --> 00:06:23,360 understand that it's it's never been done. So if you 112 00:06:23,360 --> 00:06:25,399 don't want to be involved in that, because I know 113 00:06:25,439 --> 00:06:28,360 it's never been said about Trump, so yeah, you feel 114 00:06:28,399 --> 00:06:29,360 free to distance yourself. 115 00:06:30,319 --> 00:06:34,160 Speaker 3: No, no, no, no, no, no no. I I recently heard 116 00:06:34,439 --> 00:06:40,560 James Carville. Okay, Now, James James Carville is a guy 117 00:06:40,680 --> 00:06:43,639 that I very seldom agreed. 118 00:06:43,360 --> 00:06:44,680 Speaker 2: With, but. 119 00:06:46,480 --> 00:06:49,279 Speaker 3: He he you know, he was the rage and cage 120 00:06:49,279 --> 00:06:53,600 and kind of the old old southern Democrat. He kind of, 121 00:06:53,720 --> 00:06:56,319 you know, back in the day he sort of flirted 122 00:06:56,360 --> 00:07:01,160 with blue blood or blue blood Democrats. Listening to him 123 00:07:01,319 --> 00:07:05,839 come out and call Trump Hitler, that was astonishing to me. No, 124 00:07:06,000 --> 00:07:08,160 just because I'm looking at him, going, okay, man, I 125 00:07:08,240 --> 00:07:11,879 expect this out of mental troglodytes like joy Read and 126 00:07:12,040 --> 00:07:14,839 idiots that don't even not expel their own name. But 127 00:07:15,279 --> 00:07:20,000 you he, I mean, what what what kind of ridiculous 128 00:07:20,399 --> 00:07:22,079 garbage are you spewing? 129 00:07:22,160 --> 00:07:24,480 Speaker 1: And Jimmy Carvell is sitting in front of a bookcase 130 00:07:24,560 --> 00:07:28,839 filled with bourbons and saying, we know all the education 131 00:07:28,920 --> 00:07:31,759 are Trump Trump has syphilis. Uh you know he wears 132 00:07:31,759 --> 00:07:34,879 that red hat. That's a syphilis. It's like, and this 133 00:07:35,000 --> 00:07:36,800 is the guy who got Bill Clinton elected. And he 134 00:07:36,879 --> 00:07:39,360 kept saying it's it's economy stupid. And he's married to 135 00:07:39,399 --> 00:07:41,879 a Republican woman. Tell me how the marriage works. 136 00:07:42,240 --> 00:07:43,240 Speaker 3: Yeah, I don't know. 137 00:07:43,519 --> 00:07:46,879 Speaker 1: I don't know. Okay, we did to some economic stuff, 138 00:07:46,879 --> 00:07:48,639 but we got to get to some Hollywood stuff. You 139 00:07:48,680 --> 00:07:50,360 have you had your saying this, Have you had your 140 00:07:50,399 --> 00:07:53,360 say I feel like I interrupted you. I'm sorry, I'm 141 00:07:53,399 --> 00:07:57,000 agitated today. I'm agitated, but I am judge. I'm agitated. 142 00:07:57,000 --> 00:07:59,079 Speaker 3: I am too. Yeah, I am too, and I and 143 00:07:59,199 --> 00:08:01,480 and I'm all so like I said, it's funny that 144 00:08:01,519 --> 00:08:05,560 we're having this conversation today because I was talking to 145 00:08:05,639 --> 00:08:07,639 my and you know what, I'm hoping it's just a 146 00:08:07,639 --> 00:08:10,879 mood from me, but that that story about the judge 147 00:08:10,920 --> 00:08:13,319 just adds to it. And the and the thing I 148 00:08:13,360 --> 00:08:16,759 told my employee and look, man, you know me, I'm 149 00:08:16,759 --> 00:08:20,000 not Don't anybody think about this as me like giving 150 00:08:20,040 --> 00:08:22,639 up or being discouraged or whatever. Yeah, but I did 151 00:08:22,680 --> 00:08:24,240 look at him and I say it said you know, 152 00:08:24,399 --> 00:08:30,519 something's very concerning to me right now is the backbone 153 00:08:30,959 --> 00:08:34,080 and the intestinal fortitude of this culture has been eroded 154 00:08:34,120 --> 00:08:38,039 to the point where you literally have Trump putting in 155 00:08:38,120 --> 00:08:43,559 practices that were pushed and promoted by Gnoam Chompsky forty 156 00:08:43,639 --> 00:08:47,600 years ago, and these people are calling him Hitler for it, right. 157 00:08:47,840 --> 00:08:50,840 It just like where I'm sitting there, going, we have 158 00:08:51,120 --> 00:08:58,039 we have become so limp wristed and so incalcitrant and 159 00:08:58,240 --> 00:09:01,879 so unable to deal with any level of hardship that 160 00:09:01,960 --> 00:09:05,240 the stock market's down six percent on the year, it 161 00:09:05,360 --> 00:09:09,200 should be down thirty. We won't even get to that. 162 00:09:08,639 --> 00:09:11,240 This to me, what you see going on with stock 163 00:09:11,320 --> 00:09:16,559 market is eerily similar with what happened before, right before COVID, 164 00:09:16,759 --> 00:09:21,679 Meaning the market's just taking crazy pills, not looking at 165 00:09:21,720 --> 00:09:25,000 the situation in front of it. That's another scenario or 166 00:09:25,000 --> 00:09:28,639 that's another discussion entirely, but looking at this and going, 167 00:09:29,080 --> 00:09:34,080 we literally have a guy that is putting into practice, 168 00:09:34,159 --> 00:09:37,360 like I said, things that Nobl Chomsky was advocating forty 169 00:09:37,440 --> 00:09:42,159 years ago. This should be like traditional what would be 170 00:09:42,320 --> 00:09:47,519 considered Democrat positions, right yep. And they don't just like it. 171 00:09:47,840 --> 00:09:52,360 They're crying about losses on Wall Street about it. You 172 00:09:52,440 --> 00:09:55,759 can't make this up. You cannot make it up. And 173 00:09:55,799 --> 00:09:59,279 if we can't take a fifteen to twenty percent pullback 174 00:09:59,320 --> 00:10:03,679 on the SMP five to right the wrongs, to stop 175 00:10:03,840 --> 00:10:07,720 the whole saling of middle class jobs by corporate America, 176 00:10:07,799 --> 00:10:11,440 to boost corporate profits another ten percent, if we can't 177 00:10:11,480 --> 00:10:14,120 take that, then we're done. 178 00:10:14,679 --> 00:10:17,759 Speaker 1: Trump made a point today and he's getting derided for 179 00:10:17,799 --> 00:10:19,960 it because there's a toy shortage coming. So let me 180 00:10:20,000 --> 00:10:21,679 share this with you in just a second, because this 181 00:10:22,120 --> 00:10:24,600 was a great quote, and I'm going to try to 182 00:10:24,600 --> 00:10:26,799 get to some Hollywood news because it's actually good news 183 00:10:26,799 --> 00:10:28,360 I wanted to share with you. But you said something 184 00:10:28,399 --> 00:10:31,879 about the GDP print, so that's intrigued me. We need 185 00:10:31,919 --> 00:10:33,679 to get to that. Then you just said something about 186 00:10:33,679 --> 00:10:36,080 pre COVID economy, so we might need to sweep the 187 00:10:36,120 --> 00:10:39,360 whole show aside and focus on that because that sounds 188 00:10:39,360 --> 00:10:42,360 like something very very important. Something else that's super important 189 00:10:42,559 --> 00:10:44,799 is your health, and you know this, I'm a fanatic 190 00:10:44,879 --> 00:10:47,279 for it. And someone said the other day and this 191 00:10:47,399 --> 00:10:49,960 was a sad conversation, was of a conversation with a 192 00:10:49,960 --> 00:10:53,000 man who's a type two diabetic, and he was talking 193 00:10:53,039 --> 00:10:55,279 to me about, hey, how did you get this all 194 00:10:55,279 --> 00:10:57,519 out of control? Used to weighree hundred and eighty pounds, 195 00:10:57,519 --> 00:11:01,240 And we had a very very typical conversation. And I'm 196 00:11:01,240 --> 00:11:03,679 hearing the gentleman talk about, well, I only eat good 197 00:11:03,679 --> 00:11:07,960 bread and I only eat good rice. And I'm like, no, brother, 198 00:11:08,120 --> 00:11:10,799 that can't get you there. So I said, how much 199 00:11:10,799 --> 00:11:12,519 do you want me to talk about? I found myself 200 00:11:12,559 --> 00:11:15,480 talking through all the alternatives to that. The ketogenic diet 201 00:11:15,600 --> 00:11:18,960 and the fact that a highly metabolic exercise had hit 202 00:11:19,120 --> 00:11:22,519 form is super helpful that way, the CrossFit dynamic, all that, 203 00:11:23,000 --> 00:11:27,600 and you better believe I absolutely, absolutely absolutely preached muscle 204 00:11:27,639 --> 00:11:30,919 composition with this guy. This isn't ever talked about. If 205 00:11:30,919 --> 00:11:33,120 someone tells you you're fat, they don't know what they're 206 00:11:33,159 --> 00:11:36,080 talking about until they actually measure your fat. I mean, 207 00:11:36,120 --> 00:11:37,679 you can look at someone and say they're obese. But 208 00:11:37,679 --> 00:11:41,000 there's a thing called skinny fat, and skinny fat can 209 00:11:41,039 --> 00:11:43,320 be worse than fat fat because people think they're in 210 00:11:43,320 --> 00:11:45,679 good shape. What that is is lack of muscle. If 211 00:11:45,720 --> 00:11:49,559 you're a runner or a biker or a swimmer, it's 212 00:11:49,639 --> 00:11:52,240 much less throw with swimmers but runners and bikers are 213 00:11:52,360 --> 00:11:57,320 notorious for this. People who hike for fitness are notorious 214 00:11:57,360 --> 00:12:00,679 for being skinny fat. That is where you look good, 215 00:12:00,720 --> 00:12:02,919 but you've got thirty nine or forty percent fat in 216 00:12:02,960 --> 00:12:07,120 your body. It's all visceral, it's all inside. You are 217 00:12:07,159 --> 00:12:10,919 the people who should go pick up mass simes because 218 00:12:10,960 --> 00:12:14,120 mass simes can help you maintain muscle and grow muscle. 219 00:12:14,159 --> 00:12:17,639 You should be adding resistance training to your aerobic training. 220 00:12:17,679 --> 00:12:19,639 You've got to do that. But you've got to go 221 00:12:19,679 --> 00:12:23,240 get mass simes. It's now thirty percent stronger. They're always 222 00:12:23,320 --> 00:12:26,600 improving things. It helps keep muscle in your body, producing 223 00:12:26,679 --> 00:12:29,919 more amino acids in your body. Go to bibptemishers dot 224 00:12:29,919 --> 00:12:32,080 com slash todd, use promo code Todd to get temper 225 00:12:32,159 --> 00:12:34,639 sent off all their products, including mass simes, and go 226 00:12:34,679 --> 00:12:36,679 ahead and subscribe to mass simes. When you do that, 227 00:12:37,200 --> 00:12:41,080 you never run out and you get exclusive discounts, exclusive officers, 228 00:12:41,080 --> 00:12:45,000 and exclusive information. It's biptemizers dot com slash todd and 229 00:12:45,159 --> 00:12:47,360 use promo code Todd. Make sure that you do that. 230 00:12:47,960 --> 00:12:50,399 So Zach, yep, yep. 231 00:12:50,799 --> 00:12:54,120 Speaker 3: Hey quick comment. I want to let you know that, Zach, 232 00:12:54,759 --> 00:12:57,759 and smell my wife are now on mass size. There 233 00:12:57,799 --> 00:13:02,279 it is the yep, four days now okay and uh 234 00:13:02,759 --> 00:13:06,159 I okay, it's kind of a weird one. Go ahead, 235 00:13:06,440 --> 00:13:09,639 get it. I've noticed. I've noticed right out of the gate. 236 00:13:09,720 --> 00:13:10,480 Better sleep. 237 00:13:11,679 --> 00:13:16,039 Speaker 1: I'll tell you why. If you won't know magnesium, Nope, 238 00:13:16,039 --> 00:13:17,360 I'll tell you what you know what to know? 239 00:13:17,440 --> 00:13:17,639 Speaker 2: Yeah? 240 00:13:17,639 --> 00:13:18,919 Speaker 3: Why? Yeah, I'd love to know. 241 00:13:19,000 --> 00:13:21,639 Speaker 1: Okay, because it's moving stuff through your system faster, because 242 00:13:21,639 --> 00:13:24,000 you might argue to you noticed something else, Uh, a 243 00:13:24,039 --> 00:13:28,080 happy time in the bathroom in the morning. There's a 244 00:13:28,120 --> 00:13:31,559 clearance of of back of backlogged inventories. What I'm saying 245 00:13:31,679 --> 00:13:35,879 it increases bloating. It actually makes you less tired because 246 00:13:35,879 --> 00:13:39,600 when your body is well metabolizing protein, you will have 247 00:13:39,639 --> 00:13:42,000 more energy. Because if your body is starved for protein, 248 00:13:42,240 --> 00:13:44,600 you'll end up super tired and that equals really bad sleep. 249 00:13:44,639 --> 00:13:46,840 And then it's doing it with the bloating. Now, give 250 00:13:46,919 --> 00:13:50,440 us give us this though, give us the give us 251 00:13:50,440 --> 00:13:56,279 the guns, get out of here. And I think should 252 00:13:56,279 --> 00:13:58,200 do that. By the way, if you've not met Zach's wife, 253 00:13:58,279 --> 00:14:01,879 a very beautiful lady. But she's she she's got some 254 00:14:02,039 --> 00:14:03,360 she's got some fitness on her. 255 00:14:04,159 --> 00:14:06,639 Speaker 3: Yeah, she's yeah, she is. She she's gotten really into, 256 00:14:06,840 --> 00:14:09,879 really into yoga, and now she's starting to now she's 257 00:14:09,919 --> 00:14:11,159 starting to lift weights. 258 00:14:12,200 --> 00:14:15,279 Speaker 1: My way is starting to do that. And she yeah, 259 00:14:15,360 --> 00:14:18,639 she hit her first ever PR deadlift and it was 260 00:14:18,720 --> 00:14:21,399 super It was super inspiring to watch her do this 261 00:14:21,440 --> 00:14:23,759 because we're adding a little bit of weight and and 262 00:14:23,879 --> 00:14:26,200 first time she she hits the she goes for something, 263 00:14:26,240 --> 00:14:28,320 you know, really heavy for her, and I, okay, I'm 264 00:14:28,320 --> 00:14:30,759 calling it because I said, hey, your knees are coming in. 265 00:14:30,759 --> 00:14:32,480 The forum's going away, I'm calling. She goes, no, no, no, 266 00:14:32,480 --> 00:14:34,759 I can do better. This is the I love it 267 00:14:35,000 --> 00:14:37,159 that she she gets down to the setup and she 268 00:14:37,200 --> 00:14:40,200 lifts that thing and and and pops up and and 269 00:14:40,440 --> 00:14:42,639 drops it. And she got twice what she thought she 270 00:14:42,679 --> 00:14:44,399 would get. And I kind of knew where she'd land. 271 00:14:44,559 --> 00:14:46,600 But then I'm sure that's it. We got done to 272 00:14:46,600 --> 00:14:49,200 the work. She goes, that's all. That's all today. Sometimes 273 00:14:49,200 --> 00:14:51,519 that's the thing. Sometimes you just come in here with this. 274 00:14:51,679 --> 00:14:53,600 It's so inspiring. All right, let me get back to 275 00:14:53,600 --> 00:14:56,000 where we're at, because we were on a pretty decent run. 276 00:14:56,080 --> 00:14:58,639 You said some things that really intrigued me. Let me 277 00:14:58,639 --> 00:15:01,360 share with something. Donald Trump said the president was. He 278 00:15:01,440 --> 00:15:05,039 brought in adversarial media. He brought in CBS. He brought it, 279 00:15:05,200 --> 00:15:07,840 i think an NPR person and sat and let them, 280 00:15:07,919 --> 00:15:10,559 you know, assault him. And they were talking about a 281 00:15:10,559 --> 00:15:12,480 toy shortage. I love what Trump said. We didn't have 282 00:15:12,519 --> 00:15:14,879 the sound bite. He said, maybe the kids will have 283 00:15:15,000 --> 00:15:18,720 six dolls instead of twenty and he's no, and they're 284 00:15:18,799 --> 00:15:21,720 deriding him for this, and oh, Baron never had toy shortages. 285 00:15:21,879 --> 00:15:25,080 Do you know how wise that statement is. Here's the thing, zach, 286 00:15:25,200 --> 00:15:29,399 if our country cannot deal with. There are things you 287 00:15:29,919 --> 00:15:33,919 don't need. Okay, there are things, and China is glad 288 00:15:33,960 --> 00:15:36,600 to convince you that you need them. You don't need 289 00:15:36,720 --> 00:15:39,080 twenty dolls. I was looking at a thing the other 290 00:15:39,159 --> 00:15:43,480 day to trim body hair. I don't need that, and 291 00:15:43,519 --> 00:15:45,519 God knows that comes from China, but man, has the 292 00:15:45,519 --> 00:15:46,879 world convinced me that I need that? 293 00:15:46,919 --> 00:15:47,039 Speaker 2: There? 294 00:15:47,639 --> 00:15:50,080 Speaker 1: I had a stirr. I had a thing that was 295 00:15:50,159 --> 00:15:53,080 it was you'd put it into a coffee cup a swiffer, 296 00:15:53,600 --> 00:15:57,000 shh it to stir my supplements. And when that thing 297 00:15:57,080 --> 00:15:58,799 died and it was like this cheap, it made thing 298 00:15:58,840 --> 00:16:01,120 from China. When it died, I was so stink and sad, 299 00:16:01,159 --> 00:16:05,080 I need another and you do? You do because your supplements, 300 00:16:05,159 --> 00:16:06,039 you can't shake them. 301 00:16:06,279 --> 00:16:07,120 Speaker 3: You're gonna get all. 302 00:16:07,039 --> 00:16:10,159 Speaker 1: Tired shaken your supplements. And then you remember you could 303 00:16:10,240 --> 00:16:14,360 use a fork, a fork, I could use the muscle 304 00:16:14,399 --> 00:16:16,120 I built with the Mass Times. I couldn't shake a 305 00:16:16,120 --> 00:16:17,960 cup before Mass Times. I don't know about you. For 306 00:16:18,000 --> 00:16:20,360 a Mass Times, I couldn't even shake a cup. So 307 00:16:20,960 --> 00:16:23,919 and they've been brilliant at this. But Trump says this, 308 00:16:24,000 --> 00:16:27,320 and people have they unfold their minds. This is why 309 00:16:27,360 --> 00:16:29,679 then astacs down. He doesn't care about kids having access 310 00:16:29,679 --> 00:16:32,360 to toys. And then conservatives saying this, there's a bunch 311 00:16:32,360 --> 00:16:36,399 of conservatives saying, oh, oh great, now we're gonna bash consumerism. Yeah, 312 00:16:36,600 --> 00:16:39,840 when consumerism means we're gonna addict ourselves to the Chinese 313 00:16:39,840 --> 00:16:43,080 Communist Party owning the short hairs of our major companies. 314 00:16:43,360 --> 00:16:46,440 We can't sustain. You're not gonna have a swiffer to 315 00:16:47,240 --> 00:16:49,759 stir your supplements, and your kids aren't gonna have you know, 316 00:16:49,799 --> 00:16:54,440 twenty five dollars that, Zach. The conservatives better understand something. 317 00:16:54,440 --> 00:16:57,000 You better figure out what you're trying to conserve, and 318 00:16:57,080 --> 00:17:00,120 you better be conserving American independence and energy. And we 319 00:17:00,159 --> 00:17:02,200 also got to talk about the blackout in Europe. You 320 00:17:02,200 --> 00:17:04,799 saw that in Spain and Portugal. Yeah, oh yeah, okay, 321 00:17:04,799 --> 00:17:07,240 so we talk about that. But that's that's what Trump said. 322 00:17:07,319 --> 00:17:07,720 Speaker 3: I love that. 323 00:17:07,880 --> 00:17:09,000 Speaker 1: I think that's a great response. 324 00:17:09,319 --> 00:17:11,559 Speaker 3: No, he's dead on. And this is one of the reasons. 325 00:17:11,920 --> 00:17:14,200 I don't know if you remember. I want to say 326 00:17:14,200 --> 00:17:16,839 it was about two months ago or about a month 327 00:17:16,839 --> 00:17:19,400 ago when we when the tariff talk started in ernest 328 00:17:19,440 --> 00:17:21,599 and I was saying, I really hope the administration gets 329 00:17:21,599 --> 00:17:24,480 out in front of this because there will be pain 330 00:17:24,559 --> 00:17:26,519 that comes along with this. This is going to hit GDP, 331 00:17:26,599 --> 00:17:29,200 it's going to hit the economy. It is worth it, right, 332 00:17:29,440 --> 00:17:33,480 We and and and here's the deal. We have punted 333 00:17:33,519 --> 00:17:35,920 this issue for thirty five years. 334 00:17:36,039 --> 00:17:36,279 Speaker 1: Yep. 335 00:17:36,440 --> 00:17:40,680 Speaker 3: Okay. The longer you punt it, the more uncomfortable it's 336 00:17:40,720 --> 00:17:43,599 going to be when you deal with it. So buckle up. 337 00:17:44,160 --> 00:17:48,079 Quit being a candy you know, candy blank Yep, it's 338 00:17:48,079 --> 00:17:51,680 my it's my grandfather used to call us that all 339 00:17:51,720 --> 00:17:54,039 the time. If we weren't we weren't toeing the line. 340 00:17:53,839 --> 00:17:56,799 Speaker 1: That's right, Candy bass like a fish, Yeah, candy bass. 341 00:17:56,839 --> 00:17:57,000 Speaker 2: Yeah. 342 00:17:57,000 --> 00:18:00,680 Speaker 3: It's one of those fish right, right, and and suck 343 00:18:00,720 --> 00:18:04,319 it up. The other thing is, don't be a moron, right. 344 00:18:04,359 --> 00:18:05,400 Speaker 1: That's solid advice. 345 00:18:06,359 --> 00:18:08,920 Speaker 3: Just because the economy goes down and the stock market 346 00:18:08,920 --> 00:18:11,079 gets hit for twenty to thirty what did you think 347 00:18:11,200 --> 00:18:13,720 was gonna happen? Right, we're up six percent on the 348 00:18:13,759 --> 00:18:17,440 ear Why because we knew bad things were gonna happen. 349 00:18:17,519 --> 00:18:20,519 Be defensive, like if people act like there's nothing they 350 00:18:20,559 --> 00:18:22,960 can do about it, For God's sakes, if you see 351 00:18:22,960 --> 00:18:25,960 a slowdown coming economically into a market that's trading at 352 00:18:25,960 --> 00:18:29,400 twenty eight times earnings, get out of the way. Get 353 00:18:29,440 --> 00:18:31,599 out of the way. And if you think that this 354 00:18:31,720 --> 00:18:34,519 is the worst you're gonna see, buckle up because it's not. 355 00:18:35,000 --> 00:18:38,599 And guess what when the worst comes, because it will. 356 00:18:39,400 --> 00:18:41,720 I'm not gonna change my tune on Trump. You know 357 00:18:41,759 --> 00:18:44,720 why a twenty to five percent pullback in the S 358 00:18:44,759 --> 00:18:50,880 and P five hundred is nothing compared to syringes, hypodermic needles, 359 00:18:51,440 --> 00:18:56,480 be sees all over our streets, depression, opioid addiction, all 360 00:18:56,559 --> 00:19:01,400 the stuff that has come, including record corporate profits, uh, 361 00:19:01,680 --> 00:19:04,359 that has come at the cost of us shipping all 362 00:19:04,359 --> 00:19:06,880 these jobs overseas, and if we got to have a 363 00:19:06,920 --> 00:19:09,400 couple down quarters or a recession to deal with it, 364 00:19:09,680 --> 00:19:11,599 then so be it. Bring it on. 365 00:19:12,359 --> 00:19:14,039 Speaker 1: Okay, So I think I just figured out a way 366 00:19:14,079 --> 00:19:16,480 that I can explain this for my monkey brain, which 367 00:19:16,480 --> 00:19:19,039 gets hugged up in fitness and all that stuff. So 368 00:19:19,160 --> 00:19:20,640 let me let me, let me see if I can 369 00:19:20,680 --> 00:19:23,119 formulate this real second, while we talk about what's going 370 00:19:23,119 --> 00:19:26,240 on with Visible. You, dude, my brother, you made a 371 00:19:26,279 --> 00:19:30,400 smart call becoming a minority owner in this company. I'm 372 00:19:30,440 --> 00:19:32,880 now reading the Google reviews. So first of all, let 373 00:19:32,880 --> 00:19:35,000 me give you a quick explanation of the problem. So 374 00:19:34,880 --> 00:19:36,599 this is the problem. Is this people like me and 375 00:19:36,720 --> 00:19:40,440 believe or not? Zach, we get so busy. You know, 376 00:19:40,519 --> 00:19:42,920 he's running a business. I'm running a media company. I mean, 377 00:19:42,960 --> 00:19:46,200 this is a real business minus much smaller, but like, no, 378 00:19:46,240 --> 00:19:48,920 it's true stories, Zach, you gotta I mean, dude, you've 379 00:19:49,000 --> 00:19:53,000 stored people's funds, I say, garbage into a microphone all day. 380 00:19:53,079 --> 00:19:55,599 Speaker 3: Yeah, it's a media empire. It's a media empire. 381 00:19:55,599 --> 00:19:57,920 Speaker 1: Okay, So I run a media empire. Let's just okay. 382 00:19:58,160 --> 00:20:02,000 So I don't want to do anything with paperwork or 383 00:20:02,079 --> 00:20:06,440 taxes or touching and signing things. So I put stuff off. 384 00:20:06,440 --> 00:20:08,200 I was an LLC for a long time. It became 385 00:20:08,240 --> 00:20:11,359 a corporation. Oh now I'm protected. Okay. So then I 386 00:20:11,400 --> 00:20:13,200 get a call and I have a consultation with the 387 00:20:13,240 --> 00:20:15,640 folks at Visible. They're like, yeah, so you're not protected. 388 00:20:15,799 --> 00:20:19,759 So a b your business has two credit ratings? Did 389 00:20:19,799 --> 00:20:22,640 you know that your your new corporation? How because it's 390 00:20:22,640 --> 00:20:25,200 a corporation. Wait, is it a good credit rating? No, 391 00:20:25,279 --> 00:20:28,640 it's horrible. Oh okay, so what do I do? Here's 392 00:20:28,640 --> 00:20:33,000 what Bisible does. Visible and seven easy steps separates your 393 00:20:33,039 --> 00:20:35,039 business from you. It has nothing to do with your 394 00:20:35,079 --> 00:20:37,559 Social Security number. It has nothing then to do with 395 00:20:37,599 --> 00:20:40,559 your personal assets, your retirement accounts, your bank accounts, save 396 00:20:40,559 --> 00:20:43,640 these account kids, college fund, your house. That's all separated. 397 00:20:44,599 --> 00:20:47,880 Then they build corporate credit, real credit, which gets much 398 00:20:47,960 --> 00:20:50,519 It gets builds much faster. It's not a bunch of accountants. 399 00:20:50,559 --> 00:20:53,039 You're not doing much. You're not pushing paper, you're not 400 00:20:53,119 --> 00:20:56,680 doing the research, you're not paying lawyers. Bisible makes this 401 00:20:56,839 --> 00:20:58,960 seven easy steps. There's a few things you do on 402 00:20:58,960 --> 00:21:00,640 your own, and guess what they will hold your hand, 403 00:21:00,680 --> 00:21:02,480 then pet your cheek. Ause you go through it, it's okay, 404 00:21:02,559 --> 00:21:04,680 we'll get you through this, and then I'm reading the 405 00:21:04,720 --> 00:21:06,720 Google reviews. This is act. This is why you made 406 00:21:06,839 --> 00:21:10,200 such a smart call. Brian COB's right. I would recommend 407 00:21:10,240 --> 00:21:13,759 this company to any sophisticated CEO or business owner interested 408 00:21:13,799 --> 00:21:16,599 in improving the business entity's credit score. Dialing in the 409 00:21:16,599 --> 00:21:19,440 foundational documents to improve the company's ability to borrow money. 410 00:21:19,440 --> 00:21:22,839 Guarantees by the business ei in and not a personal guarantee, 411 00:21:22,839 --> 00:21:26,559 significantly increases the company's qualifications for substantial loans to be 412 00:21:26,640 --> 00:21:30,480 used for accelerated growth, operational cost purchasing assets or equipment. 413 00:21:30,680 --> 00:21:33,240 There's much more to visible, but they're an outstanding team 414 00:21:33,599 --> 00:21:36,240 with a business owner. Outstanding it teaming with business owners 415 00:21:36,240 --> 00:21:39,839 to grow their business and consult on financial sophistication. Five 416 00:21:39,880 --> 00:21:43,640 stars Susie Williams, five stars. You made a good, solid 417 00:21:43,640 --> 00:21:45,680 call and getting cooked up with these guys at Their 418 00:21:45,720 --> 00:21:48,559 website is go bisible dot com. And this is my 419 00:21:48,640 --> 00:21:51,599 guarantee you might have another zach My guarantee. You take 420 00:21:51,680 --> 00:21:54,759 the free, no obligation consultation with the team at busible. 421 00:21:54,799 --> 00:21:56,880 You're going to learn something about corporate credit and probably 422 00:21:56,920 --> 00:22:00,039 something about your business. It's go bisible dot com be anything. 423 00:21:59,799 --> 00:22:05,319 Speaker 3: That no other than the fact that the funny thing 424 00:22:05,400 --> 00:22:08,480 is is the reason I invested in, other than really 425 00:22:08,519 --> 00:22:10,920 believing in the in the person who happens to be 426 00:22:11,000 --> 00:22:13,839 a very close personal friend of mine who started it. 427 00:22:13,559 --> 00:22:16,559 But it's the old Peter Lynch version of investing, which 428 00:22:16,599 --> 00:22:20,119 is and for those that don't know, Peter made his 429 00:22:20,279 --> 00:22:22,680 name by running the magel And Fund for Fidelity for 430 00:22:22,759 --> 00:22:24,799 years and years and years. I think he averaged twenty 431 00:22:24,799 --> 00:22:27,400 eight twenty nine percent compounded. He's considered one of the 432 00:22:27,400 --> 00:22:31,599 greats of all time. But he talked about how you 433 00:22:31,599 --> 00:22:36,200 know you make this You make this business way too complicated. 434 00:22:36,240 --> 00:22:38,319 Walk through this, walk through the mall and figure out 435 00:22:38,319 --> 00:22:40,880 which store has the biggest line, and figure out why 436 00:22:41,240 --> 00:22:44,200 what do people want? Look at companies where you like 437 00:22:44,279 --> 00:22:47,880 their products. And I remember when Brian first called me. 438 00:22:47,880 --> 00:22:49,640 I sat there and I went in the back of 439 00:22:49,680 --> 00:22:53,079 my mind, I have known for years that I am 440 00:22:53,200 --> 00:22:57,599 completely personally exposed in my business because I have underwritten everything, 441 00:22:57,680 --> 00:22:59,440 all of the credits in me and my wife's name, 442 00:22:59,720 --> 00:23:01,920 and I I've known that I need to transition this. 443 00:23:02,480 --> 00:23:04,920 But I also have a business where I'm managing eight 444 00:23:05,000 --> 00:23:07,720 hundred and fifty million dollars and I've got eighteen employees 445 00:23:07,759 --> 00:23:10,279 and all this kind of stuff. I know that anytime 446 00:23:10,359 --> 00:23:13,240 I spend not focused on my business, I'm not helping 447 00:23:13,240 --> 00:23:15,720 my clients, and I'm not helping what really matters, right, 448 00:23:16,039 --> 00:23:18,319 and the idea that I can take care of this 449 00:23:18,799 --> 00:23:21,680 while at the same time outsourcing it. I just sat 450 00:23:21,720 --> 00:23:23,880 there and I went done. I signed up right away. 451 00:23:24,200 --> 00:23:25,880 Then I looked at Brian, I went, wait a second, 452 00:23:26,920 --> 00:23:28,920 why don't you help me expand this and I'll do 453 00:23:29,079 --> 00:23:32,720 ECAB and c and I'll own a piece of the deal. 454 00:23:32,799 --> 00:23:35,079 Just because, like I said, it was that simple. It 455 00:23:35,200 --> 00:23:37,640 solved so many issues for me and dealt with something 456 00:23:37,680 --> 00:23:40,440 that I've been putting off for so long, and did 457 00:23:40,480 --> 00:23:45,119 it at a cost that I couldn't justify. I've been 458 00:23:45,119 --> 00:23:47,319 meaning there's no way I could have done it for 459 00:23:47,359 --> 00:23:50,079 that same cost or time. And so it was like, yes, 460 00:23:50,160 --> 00:23:51,000 I'll do it right now. 461 00:23:51,200 --> 00:23:52,759 Speaker 1: None I can do the math. In the back of 462 00:23:52,759 --> 00:23:55,640 my mind, I need an accountant and a business lawyer 463 00:23:55,640 --> 00:23:57,000 and me need to get these set up and set 464 00:23:57,039 --> 00:23:58,839 up this credits. And I can look at that and say, okay, 465 00:23:58,839 --> 00:24:02,000 that's six hundred an hour or a minute. No, it's 466 00:24:02,000 --> 00:24:04,400 totally to other say hey, it's go visible dot com. 467 00:24:04,440 --> 00:24:07,559 Scott's Best sent, so I think you like the new 468 00:24:07,559 --> 00:24:11,440 Treasury secretary, help us understand this. On the tariffs, because 469 00:24:11,440 --> 00:24:14,359 they're still going back and forth with China. The president 470 00:24:14,480 --> 00:24:16,880 has taking some tariffs off, he's put some tariffs on. 471 00:24:17,079 --> 00:24:19,680 It's a moving target and somehow I tend to think 472 00:24:19,759 --> 00:24:22,880 that might be now a purposeful thing because she's not 473 00:24:22,920 --> 00:24:24,839 going to be able to target anything. So hey, we're 474 00:24:24,839 --> 00:24:27,839 gonna have to sit down. Here's what Best said. He said, Remember, 475 00:24:28,079 --> 00:24:31,680 we're the deficit country. China sells almost five times more 476 00:24:31,680 --> 00:24:34,079 goods to us than we sell to them. So the 477 00:24:34,119 --> 00:24:37,000 ones so the owners will be on them to take 478 00:24:37,279 --> 00:24:42,880 off these tariffs. It's unsustainable for China. So it seems 479 00:24:42,880 --> 00:24:46,240 to me China's got much more depending on products continue 480 00:24:46,319 --> 00:24:48,720 to come here than we do. All we have is upside, 481 00:24:48,720 --> 00:24:50,160 all they have is downside? Is that a way to 482 00:24:50,200 --> 00:24:50,440 say this? 483 00:24:52,400 --> 00:24:56,039 Speaker 3: I would say that they they have. Look anytime you're 484 00:24:56,079 --> 00:24:59,160 dealing with anytime you have a trade war where one 485 00:24:59,680 --> 00:25:01,799 or what company is running a trade surplus and the 486 00:25:01,799 --> 00:25:05,400 other one is running a trade deficit. Ironically, contrary to 487 00:25:05,400 --> 00:25:09,160 what most people would think, the trade deficit country has 488 00:25:09,400 --> 00:25:15,319 the leverage right now, would I say there's nothing but downside? No, 489 00:25:15,680 --> 00:25:17,960 I mean, like I said, it's going to hurt us too. 490 00:25:18,039 --> 00:25:20,640 The other thing is is you have to consider the 491 00:25:20,680 --> 00:25:23,519 fact that China is a has a closed capital account, 492 00:25:24,079 --> 00:25:27,400 and what I mean by that is they control how 493 00:25:27,519 --> 00:25:32,119 much and when their citizens move money outside of the country. 494 00:25:32,000 --> 00:25:35,960 The big point about bringing that up is A, they 495 00:25:36,000 --> 00:25:38,960 don't have to worry about capital flight nearly as much 496 00:25:39,000 --> 00:25:41,720 as we do. But b because they have a closed 497 00:25:41,759 --> 00:25:45,200 capital account, it gives them far greater latitude and far 498 00:25:45,279 --> 00:25:49,279 greater flexibility as it relates to them printing money right 499 00:25:49,319 --> 00:25:52,680 because it's going to stay internal. Basically, if you've got 500 00:25:52,680 --> 00:25:55,200 a close capital account, it's like a closed loop. You 501 00:25:55,279 --> 00:25:57,640 print the money, it doesn't get outside of your economy, 502 00:25:57,839 --> 00:26:00,759 so it's much less likely to hurt the value of 503 00:26:00,799 --> 00:26:05,759 your currency. So but generally speaking, yes, they do have 504 00:26:05,839 --> 00:26:11,960 more downside than us. The concern that I have is culturally, 505 00:26:12,480 --> 00:26:14,599 meaning this gets back to the point you and I 506 00:26:14,640 --> 00:26:17,920 were talking about. At a certain point, if you've got 507 00:26:17,920 --> 00:26:21,799 to sustain trade war, it is similar to a military conflict, 508 00:26:21,880 --> 00:26:26,119 and that whoever's populous can stay with the cause longer 509 00:26:26,480 --> 00:26:27,799 has a serious advantage. 510 00:26:28,000 --> 00:26:30,960 Speaker 1: That's right exactly. And they're populau to stay at the 511 00:26:30,960 --> 00:26:32,920 cause of honor because guess what the Chinese Communist Party 512 00:26:32,960 --> 00:26:34,799 will say, Yeah, we'll kill you if you don't. 513 00:26:35,799 --> 00:26:39,039 Speaker 3: Know social crediting score too. Right. I better stick with 514 00:26:39,079 --> 00:26:41,200 the cause where I won't be able to buy bread. Right. 515 00:26:41,279 --> 00:26:43,279 Speaker 1: Oh, so you don't like our policies. How do you 516 00:26:43,359 --> 00:26:46,359 like your front teeth? Right? Maybe you don't like those ether. 517 00:26:46,599 --> 00:26:49,640 So here's I'm looking at the United States and this 518 00:26:49,720 --> 00:26:52,960 comment Trump made. Maybe kids won't have you know, twenty dollars, 519 00:26:53,000 --> 00:26:55,440 they'll have six or you know, I'm thinking of people 520 00:26:55,440 --> 00:26:58,920 going but wait a minute, you're talking about Mike Keebler 521 00:26:58,960 --> 00:27:02,640 elf cookies. They might double the cost because it have 522 00:27:02,680 --> 00:27:06,759 be made here. I needs my keyboard Elf cookies. And 523 00:27:06,799 --> 00:27:10,039 I now this sounds horribly judgmental and a reminder. My 524 00:27:10,160 --> 00:27:13,720 dad was an obese man his whole life. I was obese. 525 00:27:13,759 --> 00:27:16,200 I wigh almost four hundred pounds. I do not judge 526 00:27:16,240 --> 00:27:19,359 people by body size. I do not. This is descriptive 527 00:27:19,400 --> 00:27:22,039 of an economy. I'm looking at a stock market that 528 00:27:22,160 --> 00:27:24,400 was twenty eight points up ahead where it should have been, 529 00:27:25,319 --> 00:27:29,000 despite the problems, despite the trade where we are in, 530 00:27:30,119 --> 00:27:33,519 despite the fact that we have an economy now that 531 00:27:33,680 --> 00:27:36,319 is changing in terms of populace as people self deport, 532 00:27:36,720 --> 00:27:41,519 all these factors. That's a fat economy. And you can 533 00:27:41,599 --> 00:27:45,160 look at it and say, economy, you have trouble getting 534 00:27:45,160 --> 00:27:48,359 off the couch. The American economy is a noisemaker getting 535 00:27:48,359 --> 00:27:51,640 off the couch, but they're not doing anything about it. 536 00:27:52,279 --> 00:27:55,000 So when that American economy suddenly loses eighteen pounds, you 537 00:27:55,079 --> 00:27:57,559 have people coming along and oh wait, wait, wait, you're 538 00:27:57,599 --> 00:28:03,440 super skinny. No, the economy is still obese, just not 539 00:28:03,519 --> 00:28:07,400 as obese, and it's panicking people. So we have become 540 00:28:08,039 --> 00:28:11,039 in terms of creature, so the comforts like my stir 541 00:28:11,200 --> 00:28:15,160 for my supplements, we've become addicted to the fat and 542 00:28:15,240 --> 00:28:17,440 people just can't stand seeing it good way. So did 543 00:28:17,480 --> 00:28:22,279 you see Bezos and Amazon float this idea on their 544 00:28:22,400 --> 00:28:25,000 value website of calling out the tariff prices? 545 00:28:26,240 --> 00:28:27,039 Speaker 3: Yeah? 546 00:28:27,119 --> 00:28:29,960 Speaker 1: I did, Yeah, that and that last long. 547 00:28:30,920 --> 00:28:36,400 Speaker 3: No it didn't and and I I was, I'll be 548 00:28:36,440 --> 00:28:38,720 honest with you, I was a bit surprised, you know, 549 00:28:38,839 --> 00:28:43,279 I was a bit surprised by the reaction Okay, you know, 550 00:28:43,319 --> 00:28:45,359 because generally I'm you know, I'm a Frian. I'm a 551 00:28:45,440 --> 00:28:49,480 fan of transparency. I think people have a right to know. Yeah, 552 00:28:49,680 --> 00:28:51,599 that being said, it was a bit of a head 553 00:28:51,599 --> 00:28:55,039 scratcher because you're like, Okay, this is clearly designed to 554 00:28:55,160 --> 00:28:59,559 make Trump look bad, right, which which I don't really 555 00:28:59,680 --> 00:29:03,559 unders because I've gotten the vibe from Bezos that he 556 00:29:03,599 --> 00:29:05,559 would have preferred Trump over the alternative. 557 00:29:06,319 --> 00:29:10,359 Speaker 1: Okay, so true, And I think Bezos is still used 558 00:29:10,400 --> 00:29:14,079 to being able to take a politician and do kind 559 00:29:14,079 --> 00:29:16,559 of what he wishes. And here's the thing about Trump 560 00:29:16,640 --> 00:29:19,359 and his people. Carolyn Levitt has gone to the Trump 561 00:29:19,440 --> 00:29:22,279 school of communication. She's gone to this Trump school of 562 00:29:22,359 --> 00:29:24,200 you speak truth to the media, you don't care what 563 00:29:24,240 --> 00:29:27,680 they think. And her response immediately this was a hostile 564 00:29:27,720 --> 00:29:31,359 political act and speaking for the president, why didn't they 565 00:29:31,359 --> 00:29:33,640 call out the nine and a half percent inflation under 566 00:29:33,720 --> 00:29:37,880 Joe Biden? And I think that Jeff Bezos's people probably 567 00:29:37,920 --> 00:29:39,799 went back to him, or he went to them. Maybe 568 00:29:39,799 --> 00:29:42,359 he wasn't even aware of this, that's probably, and it 569 00:29:42,400 --> 00:29:44,519 could have had a phone call from Bezos going what 570 00:29:45,200 --> 00:29:49,440 are you thinking? This is not the guy you do 571 00:29:49,519 --> 00:29:51,920 this with? Because he can hurt us fifteen different ways, 572 00:29:52,279 --> 00:29:54,640 and he's willing to do that. Because trade wars aren't 573 00:29:54,680 --> 00:29:57,359 just external Where have you a trade war within the 574 00:29:57,359 --> 00:29:58,079 countryes Act? 575 00:30:00,160 --> 00:30:02,599 Speaker 3: And And one of the things that is the most 576 00:30:02,599 --> 00:30:04,480 frustrating me about it is I look at these people 577 00:30:04,519 --> 00:30:07,680 and I go, do you recognize the situation with China's untenable? 578 00:30:07,799 --> 00:30:08,240 Speaker 2: Yeah? 579 00:30:08,680 --> 00:30:12,200 Speaker 3: What do you suggest we do? What do you suggest 580 00:30:12,200 --> 00:30:12,480 we do? 581 00:30:12,839 --> 00:30:13,039 Speaker 1: Right? 582 00:30:14,480 --> 00:30:17,119 Speaker 3: And go talk to them? What would you like to 583 00:30:17,119 --> 00:30:21,480 talk to him about? But if you think a if 584 00:30:21,519 --> 00:30:24,160 you think they're going to cut you a sweetheart deal 585 00:30:25,079 --> 00:30:28,960 with in the absence of some type of sort of 586 00:30:29,039 --> 00:30:31,759 damicalles hanging over the top of their head, you're out 587 00:30:31,759 --> 00:30:34,680 of your mind because they've got to in the current setup, 588 00:30:35,000 --> 00:30:37,640 they have all the leverage. It's all upside, zero downside 589 00:30:37,640 --> 00:30:41,079 for them, right. So you so you expect them to 590 00:30:41,160 --> 00:30:43,319 come to the table with the deal that gives that away? 591 00:30:44,680 --> 00:30:48,000 Why would they? Why would they? So the way you're 592 00:30:48,039 --> 00:30:52,319 going to get them to the table is by now Again, 593 00:30:52,640 --> 00:30:54,720 I would have rolled it out slightly differently. At the 594 00:30:54,759 --> 00:30:56,599 end of the day, I doubt that it'll make much 595 00:30:56,599 --> 00:31:00,279 of a difference. But you got to come out if 596 00:31:00,519 --> 00:31:03,319 you know more, in my opinion, more stick out of 597 00:31:03,319 --> 00:31:05,799 the game. I had you dealt with this back in 598 00:31:05,880 --> 00:31:10,000 the day, like four five before Z took over, you 599 00:31:10,039 --> 00:31:13,319 could have, but we didn't. We didn't deal with it 600 00:31:13,359 --> 00:31:17,559 back then. Okay, So because we didn't deal with it, 601 00:31:17,799 --> 00:31:23,319 because Bush punted, because Obama punted the scenario, remember the 602 00:31:23,359 --> 00:31:26,480 pivot back to Asia. Can anybody tell me what that 603 00:31:26,519 --> 00:31:27,079 pivot did. 604 00:31:28,079 --> 00:31:29,119 Speaker 1: It's spun a surround. 605 00:31:30,119 --> 00:31:32,960 Speaker 3: Yeah, yeah. Other, I mean we were just yeah, we're spinning. 606 00:31:33,000 --> 00:31:35,119 We're just doing three sixties on the street corner, right. 607 00:31:35,160 --> 00:31:35,319 Speaker 2: Yeah. 608 00:31:36,119 --> 00:31:41,839 Speaker 3: So, so everybody's punted. Everybody acknowledges it. Tallet hauled out 609 00:31:41,839 --> 00:31:46,119 our economy. Everybody's knowledges. It's killed the middle class at 610 00:31:46,119 --> 00:31:48,480 the expense of the wealthy. It has played a big 611 00:31:48,480 --> 00:31:51,640 part in generating that in federal reserve activity, in my opinion, 612 00:31:51,880 --> 00:31:55,200 are the two biggest culprits for creating the greatest wealth 613 00:31:55,240 --> 00:31:58,119 gap in the history of this country. And again I 614 00:31:58,119 --> 00:32:00,720 would say, so, do you not want to deal with that? Yes, 615 00:32:00,759 --> 00:32:01,839 I want to deal with it. How would you like 616 00:32:01,880 --> 00:32:04,720 to deal with it? Well, well, we should talk to him. 617 00:32:04,759 --> 00:32:06,839 We have talked to him. Yeah, we talked to him 618 00:32:06,880 --> 00:32:07,519 for a long time. 619 00:32:08,000 --> 00:32:11,359 Speaker 1: There are people who are significantly hurt by us having 620 00:32:11,400 --> 00:32:14,200 this conversation emotionally, and I'll tell you, I want you 621 00:32:14,279 --> 00:32:16,440 to answer this to me. Okay, I got a note 622 00:32:16,440 --> 00:32:19,279 from a listener who's big has been with me since 623 00:32:19,319 --> 00:32:23,759 the Limbaugh days, you know, local radio doing national for Rush, 624 00:32:23,759 --> 00:32:26,000 since prior to the podcast, prior to the radio mecro Shure, 625 00:32:26,039 --> 00:32:28,400 prior to the American Family Radio Show. He loves you. 626 00:32:29,079 --> 00:32:32,839 He makes a point of listening. He builds, So his 627 00:32:32,960 --> 00:32:36,680 job is he builds things, and he uses his hands 628 00:32:36,720 --> 00:32:38,759 and he welds and he puts things together that have 629 00:32:38,759 --> 00:32:41,400 helped this country. He's dependent upon steel. And what he 630 00:32:41,480 --> 00:32:43,960 said to me is when I backed Trump, when I 631 00:32:44,000 --> 00:32:46,119 hear you guys talking this way, I hear you saying 632 00:32:46,599 --> 00:32:49,559 my job doesn't matter to you, and I had a way. 633 00:32:49,920 --> 00:32:52,039 I had a way. I responded, that's what he's heard, 634 00:32:52,079 --> 00:32:54,039 and he said, I'm saying this out of love. I'm 635 00:32:54,039 --> 00:32:56,160 not accusing you. That's just how I feel. So think 636 00:32:56,200 --> 00:32:58,200 about that. I think about that for a second. Okay. 637 00:32:58,960 --> 00:33:01,480 We have a lot of products on the show that 638 00:33:01,599 --> 00:33:04,759 are American products. One of the key ones is Alan Soaps, 639 00:33:05,400 --> 00:33:07,559 and Alan's is made in the United States of America 640 00:33:07,559 --> 00:33:10,880 by a family. It's not a big corporate thing. Understand something. 641 00:33:11,119 --> 00:33:16,759 There is no Alan's skyscraper, there's no Alan's beer. Alan's 642 00:33:16,799 --> 00:33:19,960 exists for a very very specific reason is to employ 643 00:33:20,079 --> 00:33:23,319 people that the Left would say don't matter. And I 644 00:33:23,480 --> 00:33:27,319 mean don't matter. Okay, that's what they would say about Alan, 645 00:33:27,519 --> 00:33:30,680 who's been through all these operations. He's effectively nonverbal, and 646 00:33:30,759 --> 00:33:34,799 yet he is a genius at soaps. And he is 647 00:33:34,960 --> 00:33:37,119 a smart kid who goes to work every single day 648 00:33:37,160 --> 00:33:42,359 inventing fragrances but also packaging quality control. That's Alan's the 649 00:33:42,400 --> 00:33:45,359 family that makes this, three generations of expertise. They love 650 00:33:45,440 --> 00:33:48,559 this because employing Alan and Ian also impacted by autism, 651 00:33:48,559 --> 00:33:51,640 Amy who got autism late in life. That's the soap company. 652 00:33:52,000 --> 00:33:52,160 Speaker 2: Yep. 653 00:33:52,200 --> 00:33:54,440 Speaker 1: There are wash costs. They're the softest I've ever seen. 654 00:33:54,480 --> 00:33:57,359 There's soap racks. They're very, very helpful. But there's no 655 00:33:57,480 --> 00:34:02,119 empire building. This is about employed people by making excellent soap. 656 00:34:02,240 --> 00:34:06,039 So buy the soap. Wash your body with excellent soap 657 00:34:06,039 --> 00:34:08,719 that goes beyond just soap. It's Alan Soaps dot Com. 658 00:34:08,760 --> 00:34:11,559 Sash Todd get ten percent off all the products there, 659 00:34:11,840 --> 00:34:14,280 get some for your friends, put them in your business. 660 00:34:14,280 --> 00:34:15,800 The hand soap is a great thing to have in 661 00:34:15,840 --> 00:34:18,960 your business. It's a conversation starter. Alan Soaps dot Com, 662 00:34:19,000 --> 00:34:21,079 Sash Todd. So I'll tell you kind of what I 663 00:34:21,079 --> 00:34:23,840 said to this brother, Zach. First I wrote him back, 664 00:34:23,840 --> 00:34:26,320 and then I responded on the air and I said, 665 00:34:26,559 --> 00:34:30,079 A that hurts me to know that you are feeling 666 00:34:30,079 --> 00:34:33,440 afraid for your career. It hurts me to know. I Also, 667 00:34:33,519 --> 00:34:36,519 I'm gonna bet that your dad, maybe a grandpa. I'm 668 00:34:36,519 --> 00:34:42,039 willing to take pain so my daughter doesn't. I'm willing 669 00:34:42,079 --> 00:34:44,440 to step up and do that. So I'm the one 670 00:34:44,440 --> 00:34:47,199 who takes the pain. I'm the one who gets hit. Economically, Zach, 671 00:34:47,239 --> 00:34:49,639 You're gonna get hit. I'm gonna get hit. Not to 672 00:34:49,719 --> 00:34:52,320 degree that this gentleman's gonna get hit, but if this 673 00:34:52,480 --> 00:34:56,119 isn't fixed now, it's going to crash in a way 674 00:34:56,360 --> 00:34:58,480 that's going to affect your kids and your grandkids in 675 00:34:58,519 --> 00:35:02,079 a much worse way. Controlled trade war where we have 676 00:35:02,239 --> 00:35:05,559 some leverage, where we're fighting to bring these jobs back, 677 00:35:05,599 --> 00:35:08,760 because that's ultimately we want. We want you building more stuff, 678 00:35:08,800 --> 00:35:12,320 not less. A controlled war has a chance of an 679 00:35:12,320 --> 00:35:15,400 outcome where you win and your grand kids win. Not 680 00:35:15,519 --> 00:35:20,239 having this war guarantees your grandkids and your kids get 681 00:35:20,400 --> 00:35:23,320 slapped super hard by the Chinese Commuist party and they 682 00:35:23,320 --> 00:35:25,119 don't have work like this. That's what I said. 683 00:35:25,920 --> 00:35:28,840 Speaker 3: Yeah, no, And I don't want to. I don't want 684 00:35:28,840 --> 00:35:31,920 to be dismissive of that. I understand that that there 685 00:35:31,960 --> 00:35:36,360 will be real economic pain felt here. I think that 686 00:35:36,519 --> 00:35:42,679 all of us will feel some pain regardless, and I 687 00:35:42,920 --> 00:35:45,599 know I feel for it. But it does remind me 688 00:35:45,639 --> 00:35:48,960 of the you know the you know, they certainly weren't 689 00:35:48,960 --> 00:35:51,880 the first ones to say it, but you know the 690 00:35:51,960 --> 00:35:53,719 Steve Miller band song, you know you got to go 691 00:35:53,760 --> 00:35:55,280 through heaven. You got to go through hell before you 692 00:35:55,320 --> 00:35:58,679 get to heaven. And you know that's you got to 693 00:35:58,719 --> 00:36:03,639 take some pain. And I understand what that means. It 694 00:36:03,679 --> 00:36:07,719 does not miss me. It's not something I want to do. 695 00:36:08,239 --> 00:36:11,280 You know, in my business, they not having this whole 696 00:36:11,360 --> 00:36:14,719 situation would make life a heck of a lot easier, yep. Right, 697 00:36:15,760 --> 00:36:22,880 And but in my opinion, specifically, to make sure that 698 00:36:23,039 --> 00:36:28,199 your grandson has the abilities if he so chooses to 699 00:36:28,320 --> 00:36:32,000 work with his hands and weld and work with steeve 700 00:36:32,280 --> 00:36:35,039 in order to make sure that he has that option. 701 00:36:35,880 --> 00:36:38,119 These are the these are the steps we got to take, 702 00:36:39,440 --> 00:36:43,199 and it's just it's it's unfortunate. But again, we as 703 00:36:43,239 --> 00:36:48,440 Americans need to look and we need to blame the 704 00:36:48,480 --> 00:36:52,920 cause and not the symptom. Yep, right, What we should 705 00:36:52,920 --> 00:36:56,599 be angry about is every politician that's punted on this 706 00:36:56,679 --> 00:37:00,960 issue for the last thirty years, all right, all of them, right, 707 00:37:01,000 --> 00:37:04,840 And and that's that's what's so infuriating to me about 708 00:37:04,840 --> 00:37:09,599 this topic because it is not political. Both parties have contributed. 709 00:37:10,360 --> 00:37:12,760 People on both sides of the aisle have gotten wealthy, 710 00:37:13,639 --> 00:37:17,519 wealthy off of it, off the backs of middle class 711 00:37:17,519 --> 00:37:20,760 workers and blue collar workers in this country and that 712 00:37:21,039 --> 00:37:24,639 and and to see one party try to make this political, 713 00:37:25,360 --> 00:37:28,400 it just infuriates me because I'm like, look, this is 714 00:37:28,440 --> 00:37:32,239 the opposite of political. What we're actually discussing is one 715 00:37:32,280 --> 00:37:35,079 of the serious issues we've got with this country. And 716 00:37:35,440 --> 00:37:39,400 what do you refer to it? The the the middle party? 717 00:37:39,719 --> 00:37:40,519 Right that that. 718 00:37:40,360 --> 00:37:45,679 Speaker 1: That sandwich, right, yes, scheme people on top and compliance 719 00:37:45,719 --> 00:37:47,360 soft people who know that they're only going to do 720 00:37:47,360 --> 00:37:49,199 with the evil people tell them to do. In the 721 00:37:49,199 --> 00:37:51,559 bottom and in the middle is America and saying I 722 00:37:51,559 --> 00:37:54,480 want to live my life getting squeezed right, grit and 723 00:37:54,480 --> 00:37:57,719 squeeze right. That is absolutely designed. You said something about 724 00:37:57,719 --> 00:37:59,559 a new GDP print, and we need to cover that 725 00:37:59,559 --> 00:38:03,360 real quick. Let me let me cover this. I have 726 00:38:03,440 --> 00:38:06,760 an inadequate way of expressing this, and it really really 727 00:38:06,760 --> 00:38:10,280 frustrates me because I know that in the podcast family 728 00:38:10,280 --> 00:38:12,679 and the radio show family, I know there are people 729 00:38:12,719 --> 00:38:15,719 who need to go to RENEW. And here's some reasons. 730 00:38:15,719 --> 00:38:17,599 We were kind of brainstorming that. You know, we've had 731 00:38:17,719 --> 00:38:21,159 incredible success. People who couldn't use their hands can use 732 00:38:21,199 --> 00:38:24,239 their hands again because of the stem cells from umbilical cords. 733 00:38:24,960 --> 00:38:28,800 People who couldn't walk up steps and I'm saying couldn't 734 00:38:29,920 --> 00:38:34,840 do now because of RENEW. People who had trouble breathing 735 00:38:36,199 --> 00:38:38,639 don't have trouble breathing anymore because of RENEW. In every 736 00:38:38,679 --> 00:38:42,199 single one of those cases, their doctors said nothing we 737 00:38:42,239 --> 00:38:46,239 can do. Then you have the cases where their doctors said, look, 738 00:38:46,280 --> 00:38:48,360 the only thing that's going to help you is surgery. 739 00:38:48,440 --> 00:38:52,119 We've got to cut into you. That's it. No, that 740 00:38:52,280 --> 00:38:54,880 wasn't true, And people going back to doing what they 741 00:38:54,880 --> 00:38:57,519 were doing, including a world class swimmer, went back to 742 00:38:57,559 --> 00:38:59,840 doing what was doing. There's a reason professional golfers are 743 00:38:59,840 --> 00:39:01,519 there all the time. So one of the things is 744 00:39:01,519 --> 00:39:04,159 people say, well, I'm concerned about costs. Really, do you 745 00:39:04,159 --> 00:39:07,480 know what it's gonna cost. I can't tell you because 746 00:39:07,480 --> 00:39:09,119 I'm not you. I don't know how many stem cells 747 00:39:09,119 --> 00:39:11,199 are gonna need. I don't know how many hyperbaric oxygen 748 00:39:11,239 --> 00:39:12,320 therapy treatments are gonna need. 749 00:39:12,400 --> 00:39:12,880 Speaker 3: I don't know. 750 00:39:13,800 --> 00:39:15,800 Speaker 1: My friend who is a world class weightlift in fact, 751 00:39:15,880 --> 00:39:18,480 just got another world record at the age of fifty nine. 752 00:39:19,079 --> 00:39:21,800 Oh and by the way, you go deadlift seven hundred 753 00:39:21,800 --> 00:39:24,079 and seventy five pounds at the age of fifty nine, 754 00:39:24,360 --> 00:39:28,519 I do it. Try that out, Go squat that much 755 00:39:28,599 --> 00:39:31,000 at the age of fifty nine. See how that feels. 756 00:39:31,599 --> 00:39:33,519 He gets in touch with them, and in a couple 757 00:39:33,480 --> 00:39:35,360 of days they've told him, Hey, here's the things we 758 00:39:35,360 --> 00:39:37,360 think we could do. Here's the percentage chance of success, 759 00:39:37,360 --> 00:39:40,119 here's how much it's gonna cost. He's a retired public 760 00:39:40,159 --> 00:39:42,599 school teacher. He's looking at this going I'm in so 761 00:39:42,719 --> 00:39:45,599 go find out right, don't make a judgment basiness. And 762 00:39:45,599 --> 00:39:47,440 by the way, if you can't afford it, just tell them. 763 00:39:47,760 --> 00:39:51,159 I can't you think they're gonna laugh at you. These 764 00:39:51,159 --> 00:39:54,320 are working people, right, These are working people are gonna 765 00:39:54,320 --> 00:39:56,920 go wow, you know what, maybe maybe in the future. 766 00:39:57,599 --> 00:40:00,199 So go to renew It's our e nue dot Healthcare 767 00:40:00,480 --> 00:40:02,280 and you e dot Healthcare. Please tell them you're part 768 00:40:02,320 --> 00:40:05,400 of the Todd Hermanshaw family and they will tell me 769 00:40:05,480 --> 00:40:07,199 that you got in touch and we can just track 770 00:40:07,280 --> 00:40:09,800 the progress together. It's renew r E and you E 771 00:40:10,440 --> 00:40:14,159 dot Healthcare. So you mentioned something about the new GDP print, 772 00:40:15,039 --> 00:40:17,679 and then you mentioned something that our economy reminds you 773 00:40:17,840 --> 00:40:20,360 of just before they announced the covid SI ups. So 774 00:40:20,400 --> 00:40:22,519 let's start with the new GDP print and what that 775 00:40:22,559 --> 00:40:23,519 means and what you meant. 776 00:40:24,800 --> 00:40:30,320 Speaker 3: So, first of all, we'll start with the the The 777 00:40:30,360 --> 00:40:33,119 way the FED is set up is that you have 778 00:40:33,159 --> 00:40:36,159 these FED regional banks, right, So You've got the FED, 779 00:40:36,280 --> 00:40:38,360 the Dallas FED, you have the Philly FED, you have 780 00:40:38,440 --> 00:40:44,280 the Atlanta FED, you have the Chicago FED, and these 781 00:40:44,360 --> 00:40:47,840 different networks of FED banks and and and each one 782 00:40:47,960 --> 00:40:51,159 sort of runs or is looking at the economic internals 783 00:40:51,159 --> 00:40:55,559 of that particular area. Now you get these surveys out, 784 00:40:55,760 --> 00:40:58,360 you know, once a quarter from from those FED banks 785 00:40:58,639 --> 00:41:02,119 telling you what they're seeing economically in their area. Okay, right, 786 00:41:03,360 --> 00:41:07,000 you can never take one, you can never take one 787 00:41:07,079 --> 00:41:13,519 too seriously or even two because oftentimes seasonality can impact 788 00:41:13,559 --> 00:41:16,239 these things. Right, So you know, you'd be like, oh, 789 00:41:16,280 --> 00:41:18,559 that looks like a horrible quarter down, and then you 790 00:41:18,599 --> 00:41:20,360 look at the history of the survey and you're like, oh, 791 00:41:20,400 --> 00:41:22,960 they always have a bad second quarter because in this 792 00:41:23,079 --> 00:41:26,360 area of the country they do this, and that's a down. Right, 793 00:41:26,400 --> 00:41:30,079 There's all these things, but when you see all of 794 00:41:30,119 --> 00:41:34,360 them coming through with really nasty reads, you have to 795 00:41:34,400 --> 00:41:37,719 pay attention, Okay, okay, And every single one of those 796 00:41:37,760 --> 00:41:43,119 surveys has come back, every single Atlanta, Philly, Dallas, they've 797 00:41:43,119 --> 00:41:47,000 all come back with readings that the only comps we 798 00:41:47,119 --> 00:41:51,480 have to those readings are during the COVID lockdown and 799 00:41:52,079 --> 00:41:56,280 oh wait on nine okay, so okay, things are coming 800 00:41:56,599 --> 00:42:00,360 now right now. It is gonna be cover up a 801 00:42:00,440 --> 00:42:03,920 little bit. And if you cruise around CNBC or any 802 00:42:03,960 --> 00:42:07,960 of these financial sites, you'll see headlines about a negative 803 00:42:08,000 --> 00:42:11,920 GDP print. But hey, don't worry because retail spending is 804 00:42:11,960 --> 00:42:17,119 still really strong. Okay, Well, retail spending is too strong, okay, 805 00:42:17,199 --> 00:42:21,079 And I'll explain what I mean. We show retail spending 806 00:42:21,159 --> 00:42:24,119 up this quarter, up seven and a half percent over 807 00:42:24,159 --> 00:42:28,119 where it was a year ago. Okay, that is virtually 808 00:42:28,400 --> 00:42:32,360 all heir of front running. Okay. And the way you 809 00:42:32,400 --> 00:42:35,039 can tell it is if consumer spending is up seven 810 00:42:35,079 --> 00:42:37,480 and a half percent and you're getting negative GDP prints, 811 00:42:37,760 --> 00:42:42,360 something's wrong. Okay, So that bright side of the equation. 812 00:42:43,039 --> 00:42:46,079 What people are said, we're consumer spending that is purely 813 00:42:46,119 --> 00:42:48,719 front running of tariffs, which is you. And the reason 814 00:42:48,719 --> 00:42:53,079 it's impactful is think about you're not front running cabbage 815 00:42:53,079 --> 00:42:56,000 patch dolls for tariffs, despite with people on the news 816 00:42:56,000 --> 00:42:59,400 with your front running appliances. You're front running automobiles, you're 817 00:42:59,400 --> 00:43:03,519 front running ticket items. So remember consumer spending is just 818 00:43:03,559 --> 00:43:06,519 an aggregate measure of how much the consumer spent yep. 819 00:43:06,719 --> 00:43:11,559 So that is looking artificially inflated for now just based 820 00:43:11,599 --> 00:43:15,119 on front running. Even with that front running, you're still 821 00:43:15,159 --> 00:43:19,800 posting negative point eight percent economic growth this quarter. Okay, 822 00:43:19,880 --> 00:43:24,800 it is not pretty. So the now what you have 823 00:43:24,880 --> 00:43:27,559 to think about is, Okay, what does this look like 824 00:43:27,719 --> 00:43:31,599 without tear of front running on it. I don't know 825 00:43:31,639 --> 00:43:34,000 what the number is, but you're probably looking at a 826 00:43:34,000 --> 00:43:37,559 negative two maybe two and a half percent negative print. Okay. 827 00:43:37,639 --> 00:43:39,800 All of this is in a backdrop of a market 828 00:43:39,840 --> 00:43:43,239 trading at twenty eight twenty nine time nine times earnings, okay, 829 00:43:44,000 --> 00:43:48,599 which is almost double its long term average. Okay, this 830 00:43:48,639 --> 00:43:52,599 is why we're telling people, guys, you have to manage risk. 831 00:43:52,880 --> 00:43:54,679 Do you know how many of those listeners out there 832 00:43:54,760 --> 00:43:57,280 right now are sitting on mountains of piles of apple? 833 00:43:57,679 --> 00:44:00,159 Apple is now one of our largest short positions in 834 00:44:00,199 --> 00:44:04,039 our book, and the reason why they are getting hammered 835 00:44:04,039 --> 00:44:06,079 in China. Now, watch me say that I think they're 836 00:44:06,079 --> 00:44:08,159 announcing earning today, so they'll probably come out with some 837 00:44:08,239 --> 00:44:11,519 kind of earning surprise because people front running tariffs trying 838 00:44:11,519 --> 00:44:14,760 to buy iPhones. But you you look at that company, 839 00:44:15,159 --> 00:44:21,039 it's just insane. No one's paying attention, and uh, this 840 00:44:21,079 --> 00:44:24,400 is gonna hurt. It's gonna hurt, and there's no way 841 00:44:24,400 --> 00:44:27,719 around it. And I'm not I'm not happy that it's 842 00:44:27,719 --> 00:44:31,559 gonna hurt, yep, but it's it's happening, and and and 843 00:44:32,000 --> 00:44:34,800 you see all these investors just caught flat footed just 844 00:44:34,880 --> 00:44:38,480 staring at it. And you're going, guys, get out of 845 00:44:38,519 --> 00:44:39,559 the freaking way. 846 00:44:40,239 --> 00:44:43,000 Speaker 1: The only way around this is to be an old 847 00:44:43,079 --> 00:44:47,199 man in your deathbeds and your your kids don't have work. 848 00:44:47,480 --> 00:44:51,559 They you know, they are trying to live subsistence and 849 00:44:51,679 --> 00:44:55,119 China controls everything, and and you sit and their kids say, 850 00:44:55,159 --> 00:44:58,039 why did you let that happen? Well, I wanted you 851 00:44:58,079 --> 00:44:58,599 to deal with it. 852 00:44:59,400 --> 00:45:01,079 Speaker 3: Yep, I got I wasn't. 853 00:45:00,960 --> 00:45:03,239 Speaker 1: Gonna do it. It's gonna be on you, guys. Yeah, 854 00:45:03,239 --> 00:45:05,079 A great way to say that. Always good to have 855 00:45:05,119 --> 00:45:07,519 wise cancel from you, my brother. Thank you very very much, 856 00:45:07,679 --> 00:45:09,639 and thank you for getting on to the Mass SIMS 857 00:45:09,639 --> 00:45:11,880 and the good report on that. Thank your wife as well. 858 00:45:12,280 --> 00:45:14,679 This is the Todd Herman Show. Please go, be well, 859 00:45:15,320 --> 00:45:18,360 be strong, and be kind, and please make every effort 860 00:45:18,400 --> 00:45:20,440 to walk in the light of Christ.