Investor's Edge with Gary Kaltbaum - 2 wild weeks in review [04.26.2024]

Episode Date: April 26, 2024

https://garykaltbaum.com/

Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor, ORAIDA, Silk, Capri-Sun, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up

and go pick up or delivery. Restrictions apply. See website for full terms and conditions. Investor's Edge with Gary Cultbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host.

A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It is Friday, April 26, 2024, and I'm not traveling this weekend. As you know, I've been traveling up the east. Eastern Coast every weekend to visit mispadiantes. Is that how he used to do in Spanish? Something like that. My parents and my brother took over this weekend.

So I am relaxing, taking it easy. First thing I'm doing after radio, going to the gym and getting in the hot tub and in the steam room. Case close. Hey, ladies and gentlemen, this is serious talk about everything that affects you. and your money, the markets, your job, the economy, and everything else in between. And we pull no punches here. We have no favorites. You know our motto.

They all suck. We can't stand them all. But some worse than others. You know who. And I just want to tell you, you know who. Mr. 2.5 trillion deficits this year and going forward, did an interview. today with Howard Stern. Now, may I state for the record, haven't been able to in the last couple years, but I used to listen to Stern all the time because, listen, if we can't laugh,

we can't laugh. I guarantee, I've yet to listen to the interview and I will listen. I will guarantee he was not asked about $2.5 trillion deficits per year. I guarantee that. I guarantee he was guarantee will not ask him about his lie that he cut child poverty in half because of a tax credit. I guarantee he did not ask him about Biden telling us that he has lowered the deficit and lowered government spending. I guarantee you he asked him nothing that would hold his feet to the fire. Now, Howard Stern is more of a comedian, not a journalist, so we're not going to hold his feet to the fire. But all the other journalists pretty much suck. They don't ask him the tough questions.

And interesting enough, they're now very much complaining that they have absolutely no access to him, that he's done no interviews. and we all know why he has done no interviews. And you know me. I've been one that has not hit him on age because, as you know, I don't care if he's 150 years old as long as his policies are good. But leave no doubt he has lost a bunch of steps. He fumbles, stumbles and bumbles over sentences and paragraphs. He can't even read a teleprompter, which is quite the interesting.

But again, for me, it is all about policies. And he is a Marxist, socialist, control freak, deficit-laden, debt-laden, rules, regulations, fees, fines, mandates, laden, and lies about it all, laden, politician. his whole political life was a lie based on telling us he's a moderate. We might as well have voted in Bernie Sanders and AOC as partners to be co-presidents United States. That's what we got with this guy.

And it's nauseating the hell out of me. But I digress. He wouldn't last five minutes with me in an interview. He would walk out of the room. His handlers would take him. And by the way, I don't know if you heard this. His handlers now do not let him walk from the White House to the helicopters anymore because of the way he walks in because it looks like he's walking as an old person. Don't you just love that? Just want to start with that. We'll get it out of the way because the more important part of the equation is draw a V. Take a little pen or a pencil.

and draw of V. That's what the semiconductor group has done over the last nine days. Let's call it eight. Three days of straight down misery, five days of up. V shape. Back into massive overhead resistance where the rubber will meet the road. next week but I never argue with what the market does the semis pulled a V shape in the last eight days I'm never surprised by anything in markets anymore so if he asked me if I'm surprising them not about surprised I'd rather not have V shapes because there are pain in the rear but that's what the semis did of note and we're getting right into markets we'll do the introductions in a little bit

NVIDIA. As we have told you, and we have highlighted for you, we believe it's the number one technology stock in the market, and we really do believe the market has followed it. To a certain extent, not all. And as you know, the semiconductor index on March 8th pulled that gross reversal to the downside. And all the semiconductors have waned since then with invidia being a little stronger than most on its rallies. Well, Nvidia did something today that we're not going to say is bullish, bullish, but we're going to say is a great first step. And what do you think that is?

it got above resistance and the 50-day moving average today. Simple as that. Back in, let's call it 1, 2, 3, 4, 5, 6, some 8 weeks of nothingness. Why was it up strong today? Well, just talk. First you had meta yesterday saying they're going to spend 70 billion dollars on stuff

CapX in the next two years and then you had Microsoft and Google AI AI AI everything is AI and there you go we will hope that this is the start of something

we will hope as it gets through resistance it then busts out will hope because it will carry other things with it. But we just wanted to start the show with the important stuff. And we believe the semiconductors are the most important.

And they just had one hell of a five days this week. And by the way, that's inclusive of yesterday. The yesterday actually was a little clue. While the NASDAQ and NASDAQ 100 were getting smoked, the semis were hardly down. And then we get some earnings reports today on the semis and KLAC, semiconductor equipment, and of course they benefit from the making of a lot of chips. Well, their sales were down 3%, their earnings were down 4%,

but it was enough for 33 bucks, and guess what that did today? Back above the all-important 50-day move-in average and back in that range. Interesting enough, they lowered their numbers recently, and then they come out and beat those lowered numbers, or something like that. And as I look at other semis, improvement, we'll need to see more. But I will throw no cold water on the fact that the semis, nice, nice V-shaped move over the last five days, getting you back just under resistance and that all important 50-day moving average,

which means, again, we will be going into next week a moment, an important place, a potential fork in the road. I have 13 pages of earnings next week. That was more than this week. next week of import will be Amazon, Apple, AMD. We got past Netflix,

meta, Google and Microsoft. Meta and Netflix croaked. Google strong. Microsoft, I can't really say strong. At the close today, only finished up $6.80. That's $7.

It was up at one time, 15. So they distributed into resistance. That'll have some work to do. Up next, we got more markets. And then news of the day and whatever else today. I'm Gary. This is the one only Investor's Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people.

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That's 888-4-2-4-2-5-5-9. Investment Advisory Services offered through call-bomb capital management. Hello, hello. I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM. I recently sat down with IBM's chairman and CEO, Arvin Krishna. And I asked him, how can companies use AI? to its fullest potential to create smarter business. My one advice to them, pick areas you can scale.

Don't pick the shiny little toys on the side. For example, if anybody has more than 10% of what they had for customer service 10 years ago, they're already five years behind it. If anybody is not using AI to make their developers who write software, 30% more productive today, with the goal of being 70% more productive. Yeah, wow. So we are not asking our clients

to be the first experiment on it. We say, you can leverage what we did. We're happy to bring out all our learnings, including what needs to change in the process, because the biggest change is not technology, is getting people to accept that there's a different way to do things. To listen to the full conversation,

visit IBM.com slash smart talks. Want to earn extra income for your business? Amazon Hub Delivery is looking for ambitious business owners to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business. Plus, Amazon Hub Delivery makes it easy to get started. There's no upfront costs, delivery experience, or long-term contracts required. Sign up to learn more at Amazon.com slash Hub Delivery.

That's Amazon.com slash H-UB delivery. Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stock up savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, body armor, or Ida, silk, Capri-Sung, Bavarian Meets, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more.

Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick up or delivery. Restrictions apply. See website for full terms and conditions. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge.

The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. And welcome once again to Investors Edge. By the way, I got a bunch of emails last night from Trump people thanking me for defeckel for defending him. Look at that. Remember, I'm unbiased.

I may not like the guy, but I believe he's been railroaded politically by this judicial system run by people that hate him. Now, I think he's done some wrong things,

but the one he's going through now is misdemeanors at worst, and they made him into felonies. It's just an absolute joke. and people like me that don't have a bias that may not like him know when we see him being screwed and leave no doubt he is being screwed now we do blame him on some other things we're not going to get we're going to leave him alone for the day maybe another day but leave no doubt he he's been screwed by the leftist judicial system never piss them off they will come and

get you and he's in the crosshairs. Simple as that. I'm amazed that he has to be in court right now for this case. Again, it's a misdemeanor case that they turned into a felony based on this, that, and the other thing. And again, we're not saying he's innocent. We just know when they're trying to put the hammer down and go overboard. So, you know, we'll see how it plays out. and yay yippie yeah i will say to the left what goes around comes around and uh be careful what you wish for okay what else do i got for you so first off we started with the semiconductors they're vital the fact that invidia got back above the 50-day vital but we're pretty darn sure part of that is they're going to be on 60 minutes on sunday and i hear that

got out this morning, and that's when it started ripping to the upside. But also, there is that component, the talk of artificial intelligence by meta, by Microsoft, by Google, and these are big companies. These are the end-all-be-all companies, really drives the bus, and it also drives the bus on these equipment makers. These equipment makers, exactly what they're are KLAC, AMAT, ASML, LRCX, all had a pretty decent day to day off of those crappy numbers from KLAC, which by the way, as we said to you, warned as of recent. So that's the story behind that. And just letting you know, that makes us feel somewhat better.

And I want to repeat, KLAC lowered their numbers just a couple of weeks ago, and then they come out. and beat the numbers. That's a bunch of bull crap, but whatever. We'll leave them be on that one. Next, and this is of import too. So far, not one big index is back above the 50-day moving average. The NASDAQ finished below. But coming up, the NASDAQ 100, finish below, but coming up, the, well, the last few days, the S&P, finish below, and the real week, one right now is the Dow. For instance, the Dow on the week was up 0.67%. The NASDAQ on the week, 4.23. But then again, the NASDAQ dropped 5.something last week. so insanity runs amok.

It just tells you how much of the juices are flowing both ways when it comes to this artificial intelligence thing. I don't think the numbers are good for some of these companies. Market doesn't care what I think. We have seen a bunch of semiconductor names go up in price, even though they had horrible sales and revenue drops, as well as loses money. losing money. But we don't argue with price and performance. And that's the story right now. Next week, we'll see if the big indices can get going. The Dow is the weakest. Why? We give less weight to the Dow

anyhow. There's 30 names and there's a few in there. For instance, Boeing. Boeing in the Dow has gone from 267 to 167 since mid-December. That's almost 700 Dow points. Each point is about 6.78 Dow points. So that's an example of one. United Health got trashed also because of Medicare payments, though it's bouncing up a little bit right now. But we just give less weight, even though those companies do definitely matter.

Next, to point out, the 10-year yield, it's still elevated, and that's something we'll be watching. I do believe we have a Fed meeting this coming Wednesday. Don't quote me on that. I haven't even looked. Fed meetings, 2024. Let's see what I got for you, April 30th and the May 1st. So on Wednesday, they will whatever, whatever, whatever. There would be no reason for them to make any moves.

And if they did lower rates, it would look to be political. We think there's a chance they may lower rates. Don't know. We'll see. My expectation right now is they don't. But just remember, what matters more, the 10-year yields at 4.669 right now. Mortgage rates are above 7%. Have that it.

By the way, on the housing front, just letting you know, just in central Florida, the amount of homes for sale has really gone up in the last 90 days. The amount of homes where prices are coming down, a lot of them. Especially on the higher end, I'm seeing $3 million homes drop $300,000, if not even more. Why? Because they come out with fantasy land prices. You should see what some homes are trying to be priced at. They're never going to be... Well, they're hoping if one person buys, you never know. This weekend, I'm going to be going through a few cities to get a feel on that.

And I'll give you an idea this coming week as we move forward. So, unbelievably bad week last week. Last Friday, NVIDIA dropped $84. Last Friday. In fact, last week, NVIDIA went from 881 to 762. That's the close to the close. It's back to 878. Stunning stuff.

But just didn't range. Much more up next on this one only investor's edge. Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Gambata. We discussed his vision for the future of quantum computing. At IBM Research, what we always do is answer what is the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together.

It's our DNA to answer the question. of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM.

I wanted the experience, the culture of building hard things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature, right? Yeah.

cell phone is a mature technology at this point. How far are we from that point with Quantum? By 2029, we'll build the first fault-tolerant quantum computer. That is one that can run a very, very large, large problem. To learn how IBM is building the future of computing, visit IBM.com slash quantum. Want to earn extra income for your business? Amazon Hub delivery is looking for ambitious business owners to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business. Plus, Amazon Hub Delivery makes it easy to get started.

There's no upfront costs, delivery experience, or long-term contracts required. Sign up to learn more at Amazon.com slash Hub Delivery. That's Amazon.com slash H-UB delivery. Hey, it's Ryan Seacrest for Albertsons and Safeway. It's stockup savings time now through March 31st. Spring in for storewide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, body armor, or Ida, silk, Capri-Sung, Bavarian Meets, and Charmin.

Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick-up or delivery. Restrictions apply. See website for full terms and conditions. Investor's Edge. He's got to be pleased with that. The crowd is just on his feet here.

He's a Cinderella boy. With Gary Coltbaum. It comes highly recommended. You're going to feel better if you talk to him. Welcome once again to Investors Edge. Let's see. You ready? Next week.

Domino's Pizza. Eli Lilly. 3M in the Dow. Brinker International. I'm going to talk about restaurants in a second. Coke. in the Dow. So there's two Dow names already next week.

I'm just going through what I think of Packar, PayPal, Amazon reports, was that Tuesday after the close? By the way, Amazon and AMD report a Tuesday after the close it looks like. Amazon's estimates, let me make sure, do, do, do, do, do after the close. 84 cents versus 31 cents, so estimates are pretty darn good. AMD's estimates, nothing special. And as we go through the week, Super Micro is going to be reporting. That's an important name with the AI.

I don't need to list the insurance stocks. Marriott's reporting, for example, DuPont is reporting. Wingstop, a strong restaurant. And again, I'm going to talk about that in a second. DoorDash, eBay, Carvana, C.H. Robinson worldwide in the transports. Oh, yeah, I'm going to stop right there. The transport still act like the south end of a northbound jackass. That tells you, if we're going to go higher, it is not going to be throwing darts time.

the transports are acting terribly another bad day trucker s a i a dropped a hundred and fourteen dollars today taking down other truckers a hundred and fourteen freaking dollars s a i have yet to read the numbers but i will a little later but it dropped a hundred and fourteen apple reports thursday after the close and it's in the Dow estimates a dollar 50 versus a dollar 52 no earnings growth of course they will beat earnings so they will have some earnings growth i don't know how much all the talk has been on apple that the numbers in china are not very good these days they've been going down quarter after quarter as china's been telling their peeps in their government to stay away from Apple.

I think that's out of revenge of what we're doing here with TikTok and all that fun stuff. We'll see. Apple's very known to beat the number and sandbagging throughout the years. I expect them to beat this time, but I have no idea. That is just a guess. I don't know how much. I have received numerous emails from people I don't. know is it time to buy Tesla and why all of a sudden would I get emails numerous is it

time to buy Tesla well they saw the stock was up on the earnings so let me just do a little something for you on Tesla since you're probably thinking about it earnings way down revenue way down demands way down for the industry the stock, I believe, moved for one reason and one reason only. It was down $25 the week before. One can say also that Mr. Musk is now talking about the low-end car coming out sooner rather than later. I have a question. How do we know it's going to sell very well?

and what are the margins going to be on a low end electric vehicle? We'll see. I have not bought any stock. It still trades below the 50 day, which has held it back for a long time. If anything, the stock is still in a bare market with a little bit of, got a little bit of MFON Wednesday. I know you've heard you hurried about. One of the longtime owners of the stock and has made a bazillion dollars thinks it will go much higher. We will keep watching and see what happens.

I don't listen to Kathy Wood, who says there's a $2,000 price target. And it has nothing to do with her price target. It has everything to do. Why would we listen to anybody that's down 65% in the last three years? I don't understand why anybody interviews her. If I was down 65% in the last three years, I couldn't even be here. How could I do a radio show? Restaurants.

We just want to let you know. And there were certain industries we've never really bought into a lot. What is the airline industry? I do recall probably in, I don't know when JetBlue first came out. I'm looking it up right now. we bought JetBlue Boy, oh boy. I'm actually thinking it's 2003.

After it came public, it had a nice move and we made some decent coin, but we've never really invested in airlines, and another group we've never really invested in was restaurants. We've owned Chipotle in the past, but overall we've never really dived in. I have to tell you something. The restaurant group is acting pretty darn well.

The restaurant group. Let me describe. A Kava group just pulled back to the 50 day and jumped up six today, 10% on really good volume. Very good pattern in that one. You already know about Chipotle and was up another 75 bucks today. Keep in mind it's a $3,000 stock. Domino's Pizza. Stock acts okay.

Not the greatest numbers. That's okay. Something called sweet green. What is it, a salad restaurant? Acts pretty darn well. Shake Shack just bounced off the 50-day moving average today. Texas Roadhouse. And Wink Stop, both of them.

Now, one that's not, Starbucks just trashed. Stock has been mauled. Malled. and things I used to buy for $6.99 from them, we go for $10 now. Other ones, Cheesecake Factory, nothing going on. Cracker Barrel, Mald. And there's been talk about Cracker Barrel having to do different things.

I love their stores. They have all the old candy, by the way. Dine Brands, Mald, Darden Restaurants, acts poorly. So it's a mixed bag with the restaurants. What's that other one? QSR is the symbol. That's the Burger King and Tim Hortens.

That's been hit. So Mixed bag, but there are a few that act really well. And I must say, I may have to do a little dippy-do in a couple of these things in the weeks ahead. If they continue to act well and if on earnings reports, good guidance, good reactions. and we're getting asked a lot about them. Why are the restaurants acting? Well, isn't there inflation and all this? People are going out to eat.

On the other hand, I heard Red Lobsters filing bankruptcy. Now, they're private. They did too much of all you can eat shrimp, I heard, or something like that. By the way, that's not to laugh at. It's actually the story. So just let you know areas. Gold resting in here has. slowed down fine and dandy.

Oils have basically stopped and hanging in there. That's okay too. The big story again and it really sticks out if these semiconductors can, they lead. And just wild swings. Just remember the

NASDAQ yesterday was down like 300 points at one time yesterday. 15343.3. at the low yesterday. Yeah. It was down 360 points yesterday.

Finished up, only down 100. The Dow was down 375 yesterday. They only got one back 153 today. The S&P up 51 today. NASDAQ 316, NASDAQ 100, 287, and the Sox up 120. And the big names. Broadcom 47, Google 15.

and V-Vidia 50. Up next. Tax policy, they're coming to get you. We're going to repeat ourselves. This is the one-only investor's edge. Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Mbata. We discussed his vision for the future of quantum computing. At IBM research, what we always do is answer,

the future of computing, whether it's coming up with new algorithms, coming up with better AI, coming up with quantum, or coming up with just how do different accelerators go together. It's our DNA to answer the question of what is the future. Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff? Yes. Building actual physical machines. Yeah, it's why I came to IBM. I wanted the experience, the culture of,

building hard things that others have not done before. Where do you imagine we are in the timeline of this technology? There will come a point when it will mature. Right? Yeah. My cell phone is a mature technology at this point. How far are we from that point with Conton? By 2029, we'll build the first fault-tolerant quantum computer.

That is one that can run a very, very large, large problem. To learn how IBM is building the future of computers, computing, visit IBM.com slash quantum. Want to earn extra income for your business? Amazon Hub delivery is looking for ambitious business owners to assist with local deliveries. When you become a partner, you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business.

Plus, Amazon Hub delivery makes it easy to get started. There's no upfront costs, delivery experience, or long-term contracts required. Sign up to learn more at Amazon.com slash Hub Delivery. That's Amazon.com slash HUB delivery. Hey, it's Ryan Sechrest for Albertsons and Safeway. It's stock up savings time now through March 31st. Spring in for store-wide deals and earn four times of points. Look for in-store tags to earn on eligible items from Celsius, Body Armor,

Oiraida, Silk, Capri-Sung, Bavarian Meats, and Charmin. Then clip the offer in the app for automatic event-long savings. Stack up those rewards to save even more. Enjoy savings on top of savings when you shop in-store or online for easy, drive up and go pick up or delivery. Restrictions apply. See website for full terms and conditions. You're listening to.

What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge. With Gary Culper. So, we have had this motto about Marxists and Socialists and their ridiculous tax policy. Remember what Marxists and socialists are.

their control freaks. And by the way, we're being a little repetitive here, but we got to bang this thing home. They always want to raise taxes, more and more taxes. And of course, what they talk about is the privileged few. They don't pay their fair share. Above 400,000, not below 400,000. Fair share this and fair share that. If you make over 400,000, you're a tax cheat.

We're going after the tax cheats. Why do they always go after verbally and try monetarily the wealthy? Why do they always put them down? And it's simple because they're control freaks. Successful people, wealthy people, have no use from Marxist socialist control freaks. and they know it. So what they try to do is make them less wealthy. But the real story is not about them raising taxes on the wealthy.

The real story is not that they're trying to propose. Get this. A 25% tax on unrealized capital gains for people that make over a certain amount, which is the most freaking moronic, imbecilic, insane, thing we have pretty much come out of Washington, D.C. in 50 years. I can't tell you how stupid it is. Actually, it's only second to

Bernie Sanders once floated. I don't know if you know this. Government taken over your retirements accounts. They floated it. It lasted a day because they figured out, oh, they were so screwed.

if that got into the news. So let's call this second worst. But what have we told you here? If you're going to raise taxes markedly, markedly, for people that make a certain amount, while the people that are already wealthy, it's not going to affect them, but if you're trying to become wealthy,

they're screwing you. So every one of you, that let's say you're starting out or let's say are starting a business. And maybe right now you're not making a ton, but in a couple of years you grow your business. And God forbid you start making some serious coin. What are they doing? They're taking out their machete and cutting you off at the knees. And they do it in so many ways.

I cannot believe they even propose. This Marxist socialist control freak in the White House is proposing. Currently, the highest long-term capital gains is 20%. That means if you buy a stock today and you hold it for more than a year and let's say you made 10 grand, and you're in the highest bracket, you're going to pay $2,000 in taxes. He wants you to pay 4,460. He wants to change long-term capital gains into a nut house, which is going to hurt the market. And again, you're trying to become wealthy.

You're kicked in the you-know-what. They're also trying to float a wealth tax, California and exit tax. Imagine if you're sick and tired of these ass clowns running California into the ground with asinine taxes, $7.29,000, and you want to move to Florida where you pay $3.80 and exit tax. So if you make money over a certain amount of years somewhere else, you're still going to pay taxes to California. these people are sick in the freaking mind and this is what we mean by Marxist control freaks and I'm speaking to all of you that keep voting for these adults not to say that the next guy's better or the next gal

or the other party but at least one party leaves you the hell alone in Florida we got zero tax rate the gas taxes okay nothing special either way but you're not paying $7.29. And they recognize that you're an asset. Joe Biden, you're his mark.

He's made off and you're the mark. The high-tax states like New York City, you're the mark. California, you're the mark. They're the con artist. you're the mark. They take advantage of you. They disrespect you.

And amazingly continue to get away with it in different ways, shape, or form because the next person they bring it is worse than the last one. We're just giving you facts. These are not opinions. I have relatives that live in New York City. I've seen their tax returns. State and local. They pay a New York's a Manhattan tax also, New York City on top of the state.

It's obscene. People are working into the month of August before they make their first dollar in some of these places around the country. And Joe Biden is trying to do it federally. I am going to be so loud the next six months against this man, which we're going to be so loud, which means is somebody else running against them. But I can't help myself. I really do believe in we the people. We are the economy.

We run the joint. We have got to the point where they think we don't. And you know what? They're right. It's got to change. We'll stay on it. You have a great weekend, drive carefully. I'm getting into the steam room and hot tub.

And when you get home, do like we do, quite simple. Make sure you hug your family. Make sure you hug your children. Hug your dog, my little Winston, cancer-free. I'm a happy guy. Until Monday, peace out, stay well. Thanks for joining. Good night.

This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Want to earn extra income for your business? Amazon Hub delivery is looking for ambitious business owners to assist with local deliveries. When you become a partner,

you and your staff will deliver packages to customers in your area on a schedule that works for you. With each package delivered, you'll gain extra income and exposure for your business. Plus, Amazon Hub delivery makes it easy to get started. There's no upfront costs, delivery experience, or long-term contracts required.

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