Digital Social Hour - Wall Street Veteran Reveals: The $1T Debt Crisis You Can't Ignore | Ross Mandell DSH #982

Episode Date: December 15, 2024

🚨 Wall Street veteran Ross Mandell reveals the shocking $1T debt crisis that's about to impact every American. From his days as a power player in the 1980s Wall Street boom to his current role as a financial educator, Ross shares explosive insights about our economy's future. Discover why this legendary trader is completely out of stocks right now and what he predicts is coming next for the US economy. Learn about the staggering $35T national debt, the truth about inflation, and why the interest payments alone could devastate our economy. Get an insider's perspective on: - Why the traditional financial system is at breaking point - The real story behind Wall Street's transformation - How smart money is positioning for the coming crisis - Cryptocurrency's role in the future of finance Ross Mandell breaks down complex financial concepts into actionable insights, drawing from decades of experience in the trenches of Wall Street. Whether you're an investor, entrepreneur, or concerned citizen, this conversation reveals critical information about protecting your wealth in uncertain times. Watch now for an unfiltered look at the biggest financial threat facing America today. This eye-opening discussion could change how you think about money, investing, and the future of our economy. 💰🎯 #WallStreet #Finance #Investing #Economics #DebtCrisis #Cryptocurrency #DigitalSocialHour #SeanKelly #crypto #bitcoin #federalreserve #stocks #daytrading #makemoneyonline #jeromepowell #howtomakemoneyonline #financialeducation #financialliteracymastery CHAPTERS: 00:00 - Intro 00:28 - Ross Mandell Joins - Interview, Insights, Background 03:15 - Ross Mandell’s Wealth Formula - Financial Strategies, Investment Tips 06:37 - Ross Mandell’s Humble Beginnings - Personal Journey, Overcoming Challenges 13:06 - What if Trump Wins - Political Impact, Economic Predictions 16:28 - The Dollar is Toast - Currency Decline, Economic Analysis 17:50 - The Market is Going to Crash - Market Predictions, Financial Risks 18:43 - Ross’s New Media Business - Entrepreneurship, Media Ventures 20:40 - Ross’s Thoughts on the Stock Market - Stock Analysis, Investment Opinions 22:10 - How Real Wealth is Created - Wealth Building, Financial Education 25:40 - Ross’s Transition to an Educator - Career Change, Teaching Insights 31:50 - Aging - Aging Process, Health Perspectives 35:40 - Inflation - Economic Trends, Cost of Living 36:54 - How to Find Ross - Contact Information, Online Presence 37:24 - Wealth Formula Next Week - Upcoming Content, Financial Education APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [e-mail] GUEST: Ross Mandell https://www.instagram.com/rossmandell/ https://training.rossmandell.com/ LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

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now through December 24th. Shop now at Sephora and Sephora at Kohl's. through December 24th. Shop now at Sephora and Sephora at Kohl's. You know what? I don't want to wait for clients to walk in. They came up with this whole plan. They went to the FTC, the Federal Trade Commission, and all of a sudden Wall Street was introduced to Main Street. All right guys, got a legend here today, Ross Mandel. What a crazy first time meeting. You knew the previous guest's father. Isn't that crazy? Small world. It's a small world. It's a shock. She was a very good looking woman.

I just thought she was somebody else and I wanted to say hey. And she says Annabella Rockwell, a shout out to Thorson Rockwell, worked for me in the stock market years ago. So it's pretty cool. Yeah. You said you've employed over a hundred thousand people. Well, I want to say a hundred thousand people, thousands and thousands. Yes.

Thousands and thousands of stock brokers I worked with or they worked for me or we work together and all that stuff Wow Yeah coming up in the 80s on Wall Street. It was like a big thing and people say why what was so crazy about the 80s? Well, you know prior to about 1980 you couldn't cold call Something that everybody's so used to the phone ringing hanging up on people, you know telemarketing all that but prior to the 80s You couldn't sell securities over the telephone So all of a sudden a bunch of very aggressive young guys sitting in Lehman Brothers on 55 waters said you know what? I don't want to wait for clients to walk in they came up with this whole plan They went to the FTC the Federal Trade Commission and they got permission and approvals

plan, they went to the FTC, the Federal Trade Commission, and they got permission and approvals through corporate, through their firm and all that, to co-call securities, telemarket securities. And all of a sudden, Wall Street was introduced to Main Street for the first time in history. And it's created a whole bunch of growth. And that's why when they talk about the bull market of the eighties this is what blew it up because prior to that

you know you had to be a wealthy guy or an institution and you would make an appointment to see your financial advisor yeah and you come down to lower manhattan or chicago or l.a. and you go up into this ivory tower and you'd sit down you make an appointment you land all your stuff all of a sudden You got a bunch of very young hungry guys Calling you in your house

Calling you in your business calling you you know everywhere Yeah, and so that's how what's what really caused the markets to blow up so when I started the business The Dow Jones was at about 1,000. Geez. 1,200. Okay? It took four or five years just to get to 2,000. That was a huge, huge deal. Today the market went down over 1,000 points.

Today. Talking about inflation. What? I mean, that's a crazy story if you think about it. You know, it's come full circle. I mean all of a sudden I used to be the young, crazy, the crazy young wild stockbroker and then all of a sudden now I'm like the old stockbroker. I'm the old man, I'm the old G.

You know, I'm... Yeah. Of course I'm not in the business anymore but very close to the markets and created a curriculum called the wealth formula over the course of my life people have been coming to me you know mister mandel ross have been training people on wall street training some of the most alpha of alpha males on wall street and then uh... you know i went to prison

and when i was in prison i was teaching the stock market the wealth formula how to turn an idea a product a service into a business how to go from zero to a million dollar business you know not everybody went to Rutgers not everybody went to University of Maryland not everybody has a Wharton Stanford MBA yep and kids don't know I mean I was in a place where kids never had to, kids, 30 year old people never had to check the account. Never filed a tax return. And all of a sudden, these are not just,

not stupid people. They just grew up in a bad neighborhood. They had no guidance. The streets were all they knew, the neighborhood, et cetera. And they had no nurturing, no parenting, and so they were sort of off the reservation, if you will. And they would come to me and they'd say, Mr. Mandel, I got a great idea.

My wife, my girlfriend, my cousin, my aunt has this, has that, how do we turn that into a business? And like, well, do you know how to incorporate? They're like, what's that? I mean, so I created a sort of a one stop shop program. It's called The Wealth Formula. You can go to RossMandel.com, two S's, two L's, and it actually goes on sale. My partner's Brad Lee in Nevada, Lightspeed VT.

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text can be a little boring. And we live in a sort of a show me society, and people want to see video, and so I do my best to make it entertaining, energetic, funny, and I litter it with personal experiences along the way. I don't just tell you something I tell you how I learned it. And I give you an experience, you know, I give you a history lesson from what deal it was done in, all

this and that, and it's really incredible, comprehensive course. Nice. Yeah, so I'm very, very excited. It goes on sale next week. That's cool. I like when you can take action right away. Yeah, you have to. I'm not a fan of the courses where they just teach you you hypothetical situations. Mine is real life. And my story is very public. My story is out there. And I tell stories, legit stories, how I got screwed over on Wall Street.

And that's how I discovered X. And how I did this deal, and that's where I got to Y. And so it makes it a lot more relatable. You're looking at a guy like me, I'm a plain speaking fellow, I'm not highfalutin', I'm not a Rockwell, I'm just playing,

and people can relate to me because I keep it simple. And you had humble beginnings too. I had very humble beginnings, I really did. When I was 16, I grew up in a middle class family, middle class neighborhood, and we were living the American dream. We had everything we thought. And then my father passed away suddenly, he just died of a heart attack. I was 16 years old.

I was 16 years old, he was 48. My mother was 39, and I woke up a day later and found out that everything we owned was mortgaged, borrowed, or leased. The American dream, bro. We owned nothing and we're just living, they were just grinding my parents to pay for a better life for their kids. Can you relate to that anybody out there and I

Became very angry and very bitter. I just sort of kind of went nuts I was like the kind of kid you stayed away from I went from being a great kid on a wrestling team the football team is straight-a student and I went sort of crazy. Well, it was very angry it was angry God and I was very angry. I was angry at God and I was angry at circumstances and I just acted out. I just said, screw it.

If you could just drop dead like that, what the hell am I towing the line for? I drank, I smoked, I took pills. I had random wild sex with strangers and I just went nuts really. Luckily I had been such a good kid and such a good student, I got into all these colleges early. So right away they pushed me through and I was in school and I hooked up with a very

aggressive crowd. You know how it is in school, right? Like-minded people so I would all the kids that like to do drugs and party and hang out and run around with women We all found each other somehow and we had this crazy great time in college But when we got out which which you know, I actually graduated early, which is a crazy story. Yeah. Yeah Yeah, because you're still doing good in school. Well, here's the thing. I didn't but like Which is a crazy story. Yeah. Yeah. Yeah, because you're still doing good in school. Well, here's the thing. I didn't but like we figured out a way to finagle our way through and because I was I was a reader on my wife and

I'd love to read and I'm very book smart that way and so I was able to get through school In fact, they some guys used to skill steal exams You know before the test and bring them to me. And I'd fill in the answers for them. I'm good like that. And I used to be at least. And I got out early and they put me in a family business. I was selling ladies handbags.

And I became, we found out I was a pretty good salesman. I happen to love people. I love, I'm chatty. And I'm a pretty I was a pretty good salesman. Hmm. I happen to love people. I love I'm chatty and I'm a guy's guy. I love women and women found me cute and we're doing great, but you know, I was with a bunch of very aggressive young kids in college and Back in 1982 they found Wall Street Hmm, we used to go to the clubs in Manhattan and we'd see these guys everybody's waiting out line at Studio 54 there'll be thousands

of people on 54th Street out line don't let people in and we'd watch all these celebrities going in but there were some guys pull up in Ferraris and limousines you know and in Bentley's Lamborghini you know you name it and they always had the hottest women, and they'd come out. Bumble knows it's hard to start conversations. Hey. No, too basic. Hi there.

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They tossed the keys to some valet kid and they go, the ropes would open, thousands of people waiting and they would go right in. Wow. and they go, the ropes would open, thousands of people waiting, and they would go right in. And they would be sitting at the best tables in the best section in the clubs. And I'm an aggressive type of kid, usually stoned, and I would just go up to these guys, and I would be like, excuse me, you know, you're like a really cool guy,

and you're with the best looking woman, and you've got a great car, and you're with the best looking woman and you got a great car and you're sitting at the best table. Can I ask you, what do you do? And you know, men generally like to talk about themselves. That's true. You know, that's why you got me here. He's got the number one podcast in America, this kid.

I have on a lot of guys that like to talk about themselves. What? And women. And women. People generally like to chat about themselves, you know. You know, when someone asks me about myself, I get to talk about myself. I'm my own favorite subject. Yeah.

You know what I mean? So, these guys would say, yeah, I'm a trader, or I'm a stockbroker, or I'm an investment banker, or I'm an arbitrageur. Be like, what's that? Well, we take advantage of economic dislocations. I'm like, I don't know what that means, but like, where do I sign up?

So in 1983, I went down to Wall Street, and like everything else in my life, I finagled my way in, and got into, because I was still using and drinking heavily, and I got into the EF Hutton training program, and at that time, there were like three training programs that were like legit, heads and shoulders above everything else.

There was Merrill Lynch, there was EF Hutton and there was Dean Witter and everything else was like just sort of a lower level way of trying to get it to the markets. It was much more difficult and you know when you are addicted drugs, addicted to alcohol, addicted to that life, it's expensive, Sean. It is not cheap to be in Manhattan living it up, you know, spending money, going out every night, drinking, drugging, and so I needed money. So I learned how to sell stocks and do investments, so to speak, over the phone,

and I became sort of a stud, a celebrity at that. And it didn't matter how difficult the situation was. On a day like today, most financial guys are hiding from their phone. You know when Mrs. Winthrop calls, they're like, tell her I'll call her back up in the meeting. People get nervous, anxious, shy. I'm telling you to spend all your money on X and all of a sudden X is down 20% and you're like, what?

I was never afraid to speak to people hmm in the worst of times and I always made My fortunes in the worst of times and I can tell you this today We are heading into the worst of times Wow This country is fucked then I I love this country. What if Trump ones? This country is fucked. Dan, I love this country. What if Trump wins? Trump is a hope we have. Trump is a business guy. He's a smart guy.

I lived in Trump Towers. I lived in Trump World Tower for six years. I did a couple of deals with Donald Trump. And a lot of people have an opinion of him. They never met him. They never spoke to him. And they never did a deal with him. Well, I lived in one of his buildings. And I did two never met him. They never spoke to him and they never did deal with him. Yeah, well I I lived in one of his buildings

And I did two deals with him and I could say one thing. He's a tough guy But he's honest. He's a straight shooter and he lives up to his word And I put two apartments from him and sold And I lived in a building and it was the best experience that uh, you could have I wrote a book called rock Solid also available on my website. Hmm. The ebook Rock Solid by Ross Mandel, RossMandel.com. And I say for any of you that think that money can't buy happiness,

you never lived in a Donald Trump building. Ha ha ha. Because that was the bomb, bro. Hmm. I had a beautiful 2,200 square foot apartment, That was the bomb, bro. I had a beautiful 2,200 square foot apartment, floor to ceiling, 10 foot glass windows, eastern exposure, southern exposure, and western exposure.

I had a corner apartment. Magnificent, all glass, smoked out glass, 90 story building. And I actually lived in, most of the time, in Florida or London, but I kept an apartment in the city. And myself and my family loved it. In fact, my oldest daughter learned how to swim down in the swimming pool in Trump Tower. Nice. Yeah, yeah, it was beautiful.

That's cool. Yeah, he could probably prolong it a bit, but I think the economy is pretty... Well, look at the country. Imagine this country with $35 trillion in debt. The interest just to carry that debt is a trillion dollars a year that's more than a retired defense budget which is the biggest line item in our dog we're suffering from terrible inflation right now the inflation rate is slowing but it's the prices are huge we're

struggling with an energy situation. Job problems with jobs. There is the open border. Inner cities laden with crime right now. All my friends left New York City. Wow, is that bad though? It's so dangerous. Damn.

Friends that have been living there that said, I'll never leave, they all left. Companies moving out. Chicago, LA, New York, the cities are a wreck. If Trump wins, there's a chance we can write this ship, but in order for this ship to write, the markets have to correct themselves. The markets, the free market, is a self-correcting mechanism. It'll go up, it'll go down, there are certain economic principles and psychological principles that apply to it. I think that if Trump wins, it's going to be very good for corporate America and very good for America, especially economically.

But there's going to be a lot of cultural issues. You know, the Democrats are not going to go quietly into that good night. You're gonna have riots and all these different things and there's gonna be a lot of upset liberals, et cetera. And I'm not political. And if Kamala Harris wins, I don't know what's gonna happen. But I can tell you, we're still a trillion dollars, we are a trillion dollars in debt and that's before we paid off a penny of principal.

Crazy. And we're still borrowing. We're borrowing every day. So Japan's market crashed 12 1 1 2% last night. The Bank of Japan dumped $24 trillion United States Treasuries. How long before China and Russia do the same? There's a big movement now internationally to remove the

dollar as the reserve currency. It's going to happen. It's going to happen. And you know, Trump is so smart, he comes out and he says, Bitcoin, crypto. He sees that future. There's no other way. The dollar's gone. It's toast. The BRICS countries, the BRICS Alliance is bigger than the Western Alliance now Brazil, Russia, India, South Africa. I mean you're talking about they're bigger than we are from a GNP standpoint. We have really If if if this country is the corporation of the United States gross mismanagement Well, everybody would be through all of Washington would be fired. I mean, let's just keep giving the Ukraine hundreds of billions of dollars while we're in debt for a war that can never be won. Does that make any sense to anybody? You know, not to

me. It's all political. Everybody's getting kickbacks and all kinds of crazy shit's going on there. And I'm not a political political guy but whoever wins the market is gonna is got to go down and I would say roughly in half. Damn it's already pretty low right now. Well it's down a few thousand points this is nothing bro. Really? In 1987 I was sitting on Wall Street I had a hundred million dollars I'm managing and the Dow Jones goes down 25% in one day.

And that's just the 30 most important, biggest companies in our world went down 25% in one day. That's the equivalent of today, it went down 10, if it wouldn't go down 10,000 points. We only went down 1,000 points. But what you don't hear about that day, the rest of the market, the rest of the stocks went down 40, 60, 80, 100 percent in one day. Geez. Yeah, it was just bad, bro. And it's going to be rough going for this country and for

most businesses. My man is in the right business, and I'm going into the media business. Raw Media is a company that is being developed right now in conjunction with some really smart guys and Bradley in Nevada and I'm talking to your boy Justin as well. Justin Waller? Your boy. Oh, Justin Waller, yeah. Yeah. And it's, this is the new media. People don't watch CBS, ABC, NBC anymore.

Most people don't even buy television anymore. Most young people. Only smart TVs. Right. And my kids, my kids watch TV on their phones. They watch Netflix and you know, Hulu and you know, that sort of thing. And so there's been a change, because when we say the media business, my generation, people in the marketplace,

they look at the traditional media, and that's already gone. You're getting more eyeballs than almost 90% of any TV scheduled show. But yet you're not making that money. You're not charging the advertising. I am, but it's not enough, yeah. Well, you're not charging the advertising that someone on a major network is charging

that has a fraction of your eyeballs. Yeah, you see Mr. B's dealing with those too. Correct. So now if you put together a few guys like yourself, like Brad, like Mr. Big, you know, the boys. As a group, you've got your own network. There's a media company. It just has to be positioned, it's gotta be tweaked, there's gotta be an architect,

there's gotta be a little financial engineering, but that's it. The hard work's done. The hard work's done. It's an unbelievable thing. It's a good model, yeah, Patrick Badea was doing it. Correct. Ben Shapiro. Correct, they see it, model. Yeah, Patrick Badev is doing it. Correct. Ben Shapiro.

Correct. They see it. They see it. Yep. Patrick Badev, a very smart guy. Very. Yeah. He sees it. Yeah. And so, and there's power in that. There's power in the eyeballs.

Absolutely. So you're fully out of stocks right now? I am fully out of stocks right now. Wow. Yeah. So you're not taking this loss out of everyone else's deal? I'm very happy right now. Any crypto? Depends who's asking. Ah, so you're not taking this loss that everyone else is dealing with? I'm very happy right now. Any crypto? Depends who's asking. Ah smart answer. I got wrecked this week. I'm sure you did. Yeah, holy crap I'm sure you have but crypto is pretty volatile. So I've seen this before it is

It's a great I think it's a great opportunity to buy Bitcoin is a great entry point for aetherium really like aetherium long-term That's my biggest bag. Yeah, that's the way to go and If Bitcoin gets a little cheaper, I think it becomes more exploitable, you know. The big boys are in him now. Yeah, you have the ETFs, right? Blackstone, Vanguard, Fidelity, you know, these are, this is like my generation.

You think that's good or bad, because you were dealing with these guys years ago. I think that it's a very good thing. It means that there's, it's not going to take as long for them to come back. They're not going to ever get as beat up. They'll get beat up. But you have that underlying support. These boys control trillions and trillions of dollars. So when they put some capital to work, there's an underlying layer of support. You know, prior to them coming in, there's something like Bitcoin can go down to 3,000 a coin. It could go back down if they weren't

in. But I know these guys are greedy. They'll never let it go that low because they're in. They're vested now. You understand? There's an underlying level of support because they have more money than most countries do. Right. So they would do that with stocks? They do that with stocks. They're going to have to backstop the market, sure, but they're level of support because they have more money than most countries do. So they would do that with stocks? They do that with stocks. They're going to have to backstop the market, sure, but they're also going to buy... I've made the majority of my capital in the worst of times.

When times are good, we tend to... Whatever our, you know when you're kidding, you know, and you're struggling in business You make it three five thousand a month, you know, you spend it, you know You save a little bit but you spend it and then all of a sudden, you know, you do great You know you're making ten twenty thousand a month, you know, you get a better car Pay more insurance you get a better apartment. You spend more money on rent You take your girl off for better dinners. You go on better vacations. Before you know it, you spend the year income. The way real wealth is created or constituted

is from earning chunks of equity. Like, I hate to say, but the majority of people in this country have little or no net worth. Basically, they moved in a home. They lived there 30 or 40 years. Basically, they moved in a home, they lived there 30 or 40 years, they bought it for like 30,000, and now it's worth a million three.

And when they sell it and they get their condo in Florida, they just became millionaires, they have a million dollars. That's how the majority of, you know, sort of my generation have done it. Right. Your generation is much more clever with crypto and just sort of cool stuff that a lot of people don't really understand.

Internet money, they call it. Yeah, I love that. See, I don't even know that expression. Wifi money. Wifi, I love that, I love it. And it's relevant, I mean, it's the real thing. I have a very open mind and an open eye to all these, I think that great vision is had by the youth,

the up and coming, not the regular youth, the regular youth, a bunch of young, stupid kids. But look at the guy like you, look at Justin, you kids and right kids, and look what you've made of yourselves. You had a vision and you worked hard and you stuck at it, and there's something special about you and I watch guys like you, guys like him and I watch this whole podcast movement grow. I mean you know there were people

that didn't believe the internet was going to be around. How crazy. I mean it takes a minute for an establishment to become fully accepting. They still haven't accepted digital currency or crypto currency. But that's coming. So smarter, older people are starting to buy some. It's a very, very interesting proposition. Yeah, it took podcasts years.

Rogan was doing it for like five years before people really started making them. He was, and you know, it makes such sense. It makes sense. I record your podcast, you know, I go to YouTube, I watch it when I want. No interruptions, I can stop it and start it, come back in an hour, I can see who are your guests to see who's intriguing to me who's interesting. I mean, it's amazing

Yeah, it doesn't feel forced right answers. Love it. I know shows where my friends will go on. They'll make a hundred can a day Yep. Yeah, just happened to my friend the other day really they go on the right podcast Offer the right product boom hundred grand an hour. I get it a hundred percent. Yeah, these lives are like insane I'm just did alive. Did you see it? I a hundred percent. Yeah. These lives are like insane. I mean, Trump just did a live. Did you see it? I heard about it and see it. Yeah.

So two million viewers with Aiden Ross. He's a streamer. How crazy? If they promoted a product or a donation link even would have done $10 million. Just like that. Easily. Yeah. So the lives are really where it's at, right?

Yeah. The lives, podcasting, I think that's the future. But I think you need to be, you need to see, this is my take, because I've been looking at the industry. You need to offer a product. So I'm in the edge, I'm an educator now. This was something that I wanted to do. I mean, some magazine just wrote a story about me. Oh yeah? Good or bad? It turned out it was the best story anybody's ever written on me.

Really? And I had no idea it was going to be like that, yeah. And it's called Simply the Best Magazine. And it's a Florida magazine. They have 100,000 people that subscribe to this. And it says that a former Wolf of Wall Street has turned educator. And that's what I'm doing. I want to educate.

I want to share. I'm in a situation now where my experience and my resume allow me this opportunity. It's not like I'm forcing it, I'm not faking it. I think one of your guys over there in your production crew said, you're really an OG. I am. I was famous, I was on the front page of newspapers

long before social media and the internet. Most guys in this sort of business were in now before 2015 or 2010, try seeing what they've done. They'd never really done anything. I mean, I was already, I was in Forbes Magazine, you know, front page Wall Street Journal, front page a hundred different newspapers, good stuff, bad stuff, you know,

like I always say, good, bad say good, bad, and ugly. But I was a big name, and I was accomplishing great things. I was the first American to take a regulated company public, a regular American business public on the London Stock Exchange. That stock exchange is 100 years older than the New York Stock Exchange. And I did it twice before anybody else did it once.

Wow. Yeah. Well done. Yeah. And I created that twice before anybody else did it once. Wow. Yeah. Well done. Yeah, and I Created that footprint that blueprint. I actually did something. I'm not famous because I'm big on social media there was no social media, and I was making millions and moving markets and had thousands of people working for me and Getting in all kinds of trouble and raising all kinds of hell. I love it. You know what I mean? So it's real.

I'm real. I always say, you put me on camera, people say, who the hell is this old guy with the big fucking mouth? But when they look at me, when they Google me, they say, well, this guy's OG, he's real. And so there are things that I can teach, even guys like you, smart guys like you,

and people that are maybe not as smart like you, smart guys like you, and people that are maybe not as smart as you and not as fortunate as you. And so I become an educator. And that's sort of my hook because that enables a company that I create the opportunity to create revenue, profitable earnings. Now once you have a company that's making five million a year, 10 million a year, 20 million a year, 40 million a year,

you know Brad has companies under Weitzbecher that make five, six million a month. And I expect to be at that level soon enough. And so now that gives you the leverage and it gives you the ability to pivot. You can go left, you can go right. There are different opportunities. Again, this is again an advantage that I have.

I have founded, funded and floated, taken public, over 100 companies. Dang. There's not a handful of people in the world that can say that. You might be the number one. I'm right up there. I'm right up there but I'm also you know doing it since 1983. Yeah Chamath might be up there too. Oh there's a few there's a few guys there but you know most of those guys are not going to talk about it. No he did it through SPACs too. Yeah listen my my crew the guys I grew up with in the business we created SPACs. Oh yeah? We were doing SPACs in the 80s.

Wow. And the SEC shut us down. I didn't know it was around back then. Nobody done, because they said, this is criminal, this is illegal, you guys are out of control, and then 30 years later everybody's doing it. Wow. Right. We did the first pipe transactions, you know, private investment on public equity.

That's what they prosecuted me for in London. Now this, now today, they're doing $35 billion every month in American stock exchanges. Holy crap. They prosecuted me for bringing that to London. You're like the weed dealer before weed was legal. Thank you. Thank you. I actually did time with guys that were in jail

for 20 years for some pot. That's crazy to me. And they tell the story that now, right in the neighborhood where they doing time, they say the crime was committed, they were prosecuted and jailed for, there's dispensaries all over. It's legal. Nuts. And they're in federal prison still. Wrong time.

And it's still a schedule one drug, like heroin, just so you know. Weeders? Right now? Weed, right now, federally. What? Like heroin, methamphetamine. They lowered it by now. Et cetera.

No, they intending to. The Biden administration is threatened to reduce it, to take it down. That's terrible. But it's still somewhere in Congress. Think about that. How crazy. Nuts. This is our government that's telling us what's right and wrong and who to lend money to.

That they have marijuana as a schedule class one drug. All these years. Does that make any... Makes no sense. Look how much money Colorado's bringing in. Right. All the states where it's legal bringing in so much money to its residents. Right. In a country that's 35 trillion in debt and we're still jailing people for it. Paying 35,000 a year for these guys to be in jail every year. Terrible. It's terrible. Think about the broken families on welfare and all this and that.

It's just the decisions that come out of this Washington is just frightening. It upsets me because I pay hundreds of thousands of taxes a year and I see where it goes What do you start paying millions? Probably next year man. Let's go. Let's go baby. That's you go. That's a good problem You know, I have a friend he said my goal my goals is pay 10 million a year in taxes Why not? I make it all probably making 150 million at that point, right? Yeah depends if its business or personal Yeah, yeah yeah it's all you know let's do it yeah you've made and lost millions multiple times in your life

tens of millions yeah absolutely yeah this is ross 3.0 wow so this is the third time this is 3.0 yeah this is actually you know it's uh yeah this is my third real business life and uh third time's the charm right i'm telling you bro this. This is it. This is it. I'm 67 I mean, you know and I got another five years, you know, let's do it but You know what the hell boss. I love how you still have this energy. I see seven. That's impressive Oh my god, you know, I'll be talking when they I'm in my coffin probably Wow Yeah, you know, it's I love this podcast because they all right, I said, what do I have to do? They said, just go talk.

I said, what do you mean? Just go talk, be yourself, all right. I love it. That's why podcasts are successful. It's not fake, like the news. It really, it's so true. It's not staged. There's no agenda, right?

I don't need, there was no prep, right? Nope. We didn't discuss it. You didn't say, Ross, I want you to do this. I just know it's a digital social hour. Yep. And it's a business podcast, essentially, right? But you know, you're so clever social hour. Yep, and it's a business podcast essentially Right, but you know, you're so clever bro. Thanks, man. You know guys know we six foot six

Yeah, people don't know that and what I had a hair you got bro. Yeah, you know when you get older you start noticing Everybody else's hair When I was younger Who can't right when you get older every year see does that guy have him the hell that guy is? Does he color his hair? I don't know. I don't feel the gray hair It's the funny that you know your your perceptions change what you look at and how you think it's really really cool, bro Oh noted. I'll keep that in mind. Yeah, and you know something so you know someone said to me other day You know aging really sucks hmm, and you know I was nodding my head, but then the alternative, what is the alternative? Dying young, I don't know, it's horrible.

Well, there's guys aging backwards now, have you seen that? Yeah. Brian Johnson, few people reversing it. You know, today with peptides and medicines and all these therapies and, you know, it's amazing. Really, it's like 60s is the new 40. When I was a kid, 40, a guy was 40, like so old. You know, 67, I would be in a home already.

Instead I have this young hot wife and, you know, hanging out, young guys, guys like you, we're podcasting, we're making content, we're posting on social media, I'm doing selfies and publishing on How Whole Foods, talking about the price of these eggs. Those are expensive. Bro, I'll tell you some funny stories.

So you know, they have these like sort of, I guess jobs at some of these supermarkets. And some of these kids are special. You know, the corporations give them jobs as packers. Yeah, that's enough. So I'm doing a selfie about these eggs. You know, the corporations give them jobs as packers. So, I'm doing a selfie about these eggs. They're organic. God forbid I bring home something that's not organic.

God forbid, you know, I'm banned for the house. Dad, bring them back. And then they have to be pasture raised. That's the new thing. God forbid my cow didn't get massages, or had to live in a cage, you know, he had to be free to roam the countryside, right? These cows are living better than we are. And that's half and half.

Got to go? Yeah, now five minutes. We're tight. And these eggs, I said, what are these, Magic Hens? 11.49 a dozen. They're little brown eggs, but they're organic and they're pasture raised. And so I'm complaining on the selfie.

And then the guy goes, yeah, well, mister, these are the best eggs. You bought the best egg. A tolerant egg? And you know, he's like, you know, some kid and he's like lecturing my audience. Crazy. Used to be a dollar for 12 when you were growing up, probably. You have no idea. Now it's a dollar and egg. And you know, he's like, you know, some kid and he's like lecturing my audience. Crazy. Yeah.

Used to be a dollar for 12 when you were growing up, probably. You have no idea. Now it's a dollar an egg. I hate being like these old guys that talk about, oh, it used to be a dollar. You know, I used to buy two slices of pizza and a Coke for a dollar.

Damn. Inflation. When I was a kid. This isn't sustainable, man. It's not sustainable. And I hate to say this, but inflation is the death of capitalism. Everyone says, so who cares? I'll make more money.

Inflation. Inflation equals the death of our society as we know it. And I'm not going to explain that to you because that will take a half an hour. Well the average person can't out-earn inflation in my opinion. I agree. I think guys like us possibly can but... We can and I have. I have too but most people don don't have that still struggling people struggling If you're working a regular job, it's you're not gonna out earn it impossible. It's terrible

You know someone said the average cost of living now in In some cities two hundred fifty thousand dollars to be middle class in San Fran, right? What yeah crazy what and San Fran people sleeping in the streets is needles everywhere people getting robbed doors are closing I'm not was my favorite city for many years. I don't even wear a watch there anymore. You ever go to San Fran Yeah, but I don't wear any jewelry or anything. You can't They'll steal you. Yeah, even if we gotta be careful with your phone You can't even leave a backpack in your car there. No, definitely not even if it's empty, right? No, no That's like asking for trouble. Yeah, but if a six foot six inch young dude is worried,

what chance does an old guy like me have? Crazy man. You know? Ross, it's been fun. Where can people find you, get your course, and learn more from you, man? Rossmandel.com. R-O-S-S-M-A-N-D-E-L-L.com.

I'm on Facebook, Ross Mandel, Boca Raton, Instagram, Ross H. Mandel, YouTube, The Real Ross Mandel Boca Raton Instagram Ross H. Mandel It YouTube the real Ross Mandel. I'm on Twitter. I'm on tik-tok. I mean, you know, what's an old guy doing on tik-tok? Actually old people get a lot of fun. They talk having fun. Yeah, we're having fun. I'm making content. Thank you My brother wealth formula hits up next week Sign up You will not regret it Boom Thanks for coming out man Sure, thank you for having me bro Thanks for watching guys

See you tomorrow