Investor's Edge with Gary Kaltbaum - ANOTHER BANK BITES THE DUST

Episode Date: May 1, 2023

Follow Gary on GaryK.com or http://garykaltbaum.com...

Transcript
Discussion (0)
Starting point is 00:00:00 At CVS, it matters that we're not just in your community, but that we're part of it. It matters that we're here for you when you need us, day or night, and we want everyone to feel welcomed and rewarded. It matters that CVS is here to fill your prescriptions and here to fill your craving for a tasty and, yeah, healthy snack. At CBS, we're proud to serve your community because we believe where you get your medicine matters. So visit us at CVS.com or just come by our food. store. We can't wait to meet you. Store hours vary by location. Investors Edge with Gary Cultbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. Duh, duh, duh, another one bites the dust and another one gone,
Starting point is 00:00:56 and another one bites the dust. Ladies and gentlemen, Couple of things we're going to headline today on this, the most important show on you. And everything that affects you will do the markets, the economy, your job, employment, taxes, deficit spending, scams, shams, corruption, them. You know the Morlocks and everything else we need to cover. So, unfortunately, either most of the most of the... the media is lying to you or does not have a clue as to what is going on. It is unfortunate. Unfortunately. So First Republic Bank, simple FRC is no longer. It closed Friday at $3.51. It will not be trading anymore. It is a big, fat, gigantic, juicy zero. The bondholders, I'm not.
Starting point is 00:02:12 going to quote how's that the bond holders i think are wiped out too but don't quote me on that at the very least there's a lot lost first republic bank looks like it came public in 2010 uh it was that month it was between 27 and 30 bucks hit a high in november of 21 at 222 dollars and is now a big, fat, gigantic, juicy zero. No, we are not celebrating it. We are sick over it. I have yet to do my in-depth due diligence on this, but we know what happened here.
Starting point is 00:03:01 A run on the deposits of the bank. It was $147.68 in late January. It is now a big, fat, gigantic, juicy zero again. Here's the interesting part. Do you know how Washington, D.C., and this is not a reach, because they prove it every day with their rhetoric and their actions, they hate wealthy, successful, big businesses. They hate wealthy, successful, big businesses.
Starting point is 00:03:43 These Marxists have proven it time and time again. So how did it end up? They gave, and let me be clear, they gave First Republic to J.P. Morgan. J.P. Morgan, the largest bank, 17 trillion, excuse me, 17% of all deposits at J.P. Morgan. Yet, J.P. Morgan. P Morgan got First Republic not PNC Bank which was trying to get it and why not share it fifth third bank was also bidding for First Republic why not fifth third bank
Starting point is 00:04:40 why J.P. Morgan well it turns out J.P. Morgan's going to able to recognize an upfront one-time post-tax gain of approximately $2.6 billion. Interesting. By the way, this is not a rip on J.P. Morgan. God bless them. They can assume approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminate in consolidation. You ready for this one? The FDIC is going to provide a loss-share agreement covering acquired single-family residential mortgage loans and commercial loans, as well as a $50 billion of five-year fixed-rate term financing. In other words, J.P. Morgan won and got their arse kissed at the same time.
Starting point is 00:05:53 Man, I wish I can make a deal like that. Why would our government that hates bigness, hates success, hate success, hate success, wealth give it the J.P. Morgan. Well, there's only one thing our government, the people in our government love more, love more than hate all that. They're re-elections and they cannot have a worsening environment. No way. So let's hand it over to the big guy. And of course, when we retire, we'll ask to do speeches in front of the J.P. Morgan crowd to get a quarter million bucks. Oh, that doesn't happen. Oh, that Janet Yellen was paid three million bucks by Wall Street. Oh, I'm sorry. So just letting you know that's what happened. We hope you listened.
Starting point is 00:07:11 We had no idea that First Republic Bank would go to zero. But it was after the crack, And First Republic closed at 81 bucks. The next day it closed at 31 bucks. The next day it closed at 39, even though it hit 51 that day. And we heard people say it's now A-OK. That certain someone who there's now an inverse fund on that certain someone told you everything's okay with First Republic. we told you, stay away. Not because of anything we knew,
Starting point is 00:07:57 but because we know how this stuff plays out. There is an old cliche, and we hate using the cliches, but every now and then it's apropos and where there's smoke, there's fire. And as we have stated to you, we don't care what anybody tells you. Banks are only banks because of their deposits.
Starting point is 00:08:21 And when the deposits go by-bye, They are no longer banks. And even though First Republic got a $30 billion deposit bailout by, I think it was, six different big banks, did not matter. People were going away. And thus, we hope you listened. Our first and foremost goal here is protect you from gargantuan losses that are out there that come from gargantuan bubbles, caused by the people in DC. Just remember this was caused by Jay Powell. The reason why he's not getting blame is because he's not an elected official. If he was elected official, he'd get
Starting point is 00:09:09 blame. So he is Teflon. As we have told you for years, he is the worst thing that ever happened to us for the long term. He is enabled massive debt and deficits, took over the market, screwed savers, created massive distortions and bubbles that we told you would blow up. They all blew up and now the latest is he forced everybody to go long term with their bonds because you couldn't make any money even on a 10 year bond and they ended up with big losses and how were they saved by the same person who caused it by saying oh just so you know we're going to mark you to 100 on your bond that's par even though you may be down a ton and even though we've lost a trillion bucks on our own bonds wait what the central bank is going to save us and they've lost over a
Starting point is 00:09:56 trillion dollars on their bonds yet, but they don't take any risk. No money's coming out of Jay Powell. It's coming out of fake money. Remember, this is money printed out of thin air. It does not matter anymore. It just goes into the certain side of a sheet of paper. We're running a trillion to probably $2 trillion in debt this year. Nah, who cares?
Starting point is 00:10:18 We're $32. No big deal. It's okay. The CBO came out and said, oh, we're going to be at $50. No, don't worry about it. It's cool. And nobody's talking about it. But another bank bit the dust.
Starting point is 00:10:34 And I'm being asked over and over, do I think there's more? The answer is, when I see the stock prices crater, I'll tell you. First Republic was a gimmy. The stock price cratered. As of this second, I don't see anything else that looks like there's getting a big run, though. There's a few that stick out. Up next. A little bit more of that than the markets, a bunch of other crap. This is the one only Investor's Edge.
Starting point is 00:11:10 Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs,
Starting point is 00:12:04 we'll carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-22-559. That's 888-4-22-5-59. That's 888422-5-5-9. Investment Advisory Services offered through Colbaum Capital Management. Hi, I'm Dr. Jake Goodman, host of Beyond the Script,
Starting point is 00:12:42 the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache
Starting point is 00:13:14 every day. Or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can put it.
Starting point is 00:13:29 probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. So what do this animal and this animal and this animal have in common? They all live on an organic valley farm. Organic Valley Dairy comes from small organic family farms that protect the land and the plants and animals that live on it from toxic pesticides, which leads to a thriving ecosystem and delicious, nutritious milk and cheese. Learn more at ovie.coop and taste the difference.
Starting point is 00:14:22 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 Call. It doesn't get better than this. Um, um, speaking of me being your great protector, ladies and gentlemen, but speaking of that,
Starting point is 00:15:04 last week we had told you some of these Chinese slash Hong Kong stocks that had nothing were again on the move. And we warned you, just don't be the last one in. They will all go back to where they came from. always but we can't tell you they're not going to keep going higher and higher and higher and higher we don't know that HKD many in the summer went from nothing to $255.55 that day it closed it 1679 the next day it was 1100 at the close the next day it was 800 at the close the next day it was 721 at the close the next day it was 721 at the close the
Starting point is 00:15:51 The next day it was 405 at the close. The next day it was $2.12 at the close. Oh, it's $6.88 below the IPO now. So the one I mentioned to you was symbol TOP. Unbelievably went from $6.7. On Friday hit $256,000, closing at 108. We told you on Thursday that we saw it at $20,000. in the day but it was also also came from six that day and we knew oh man maybe this can be another
Starting point is 00:16:33 hkd but we're not going to put up a dime of that crap and of course the next day it goes to 250 closing at 110 so what did we say to you just so you know it will go back to six bucks but we don't know if it's going to go much higher first just know it's random we have no idea on a day-to-day basis down 52 percent today to 51 dollars 50 was down was down $56.69. And again, we don't know what the hell's making these move. Why? Because another one Friday was H-U-D-I that we told you about. Went from three up to 15, closed at 13. Was down 57% today, down $7.53 to $5.65. But here's the amazing part of the equation. While we these are crumbling back down. I have another China name. I don't even know if I want to give you
Starting point is 00:17:34 this symbol. Let me just state for the record, they have no sales. It's actually been trading since 2018. It was as high as $349 bucks in 2021, even though they have no sales. It went from 341 back to and as of last week it wasn't even trading before today it wasn't even trading it closed the two dollars and fifty cents on friday it traded on friday 21,000 shares and that's a big day today it went from two dollars and whatever on friday hit 44 bucks today they have no sales it's trying to name i'm not making it up it hit 44 today closed it three 31. It's 27 in the aftermarket. I don't know if it's going to 200 tomorrow or right back down. But I will say this. That's some big arse froth and speculation. And I just wonder,
Starting point is 00:19:21 just on the side in my file manager, can that be good for the market? Because as you know, we have stated to you for the record. This massive froth and speculation, every time it has happened in the last year, we were very close to the market getting trashed. No, not kidding. Remember, the last move on bed, bath, and beyond. The market got trashed right then and there, when they rallied a company that was going bankrupt from $450 up to $30 on a short squeeze.
Starting point is 00:20:03 So just be careful. We're not here to tell you what to do. We're here to report it to you. Give you a couple of angles. We love our line. Just don't be the last one in. Based on the evidence. We're like CSI here.
Starting point is 00:20:20 The evidence at hand. And while they're crumbling two names today, they ramp up another one with no sales. And by the way, there were others today. And they're all China-related. Here's one that went from a buck and a quarter to $1.88 on Friday, it hit $9.84 today, closed at $360. So if you were stupid and bought it at $980 and held, you're at $360. Last I looked at 60% drop the same day. By the way, it hit its high at 130, 60% drop from 130 p.m.
Starting point is 00:21:00 That's just another one today. I found another one that hit a high of 868, closed at 6.000. 379 today. China-based. Again, we don't know what's making this crap move, but I think people are on the wait. Look and find me some China names and hopefully be the first one in,
Starting point is 00:21:25 the last one and the first one out. The problem is all the noise usually shows up after the move. So, from Muah to you, just know what the hell you're getting into and know where things have come from. And know there's some halation
Starting point is 00:21:47 froth and speculation and a bunch of China-related Hong Kong-related names right now, more than a few. While, by the way, the HKD was down a buck 50 to 689 finishing below the IPO. You think that's a healthy market? Huh, huh? You think that's healthy? And we'll see whether this froth and speculation is meaningful. We'll let you know. I'm just stunned.
Starting point is 00:22:22 It's amazing to me. and just so you know the one that I might as well give you the symbol right GDC GDC average daily volume before today 7700 shares a day did 11 million 600,000 today you know what the float is
Starting point is 00:22:43 900,000 if I was a regulator right now I'd be shutting all these down because as a regulator I'm representing the people and everybody's going to lose a ton Up next, full market wrap, moves of the day, news of the day, whatever else today. I'm Gary. This is the one only investors edge. Hi, I'm Dr. Jake Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions
Starting point is 00:23:32 you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist, Victoria Motola, who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomachache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomachache every day. Or I'm constantly feeling like gassy.
Starting point is 00:24:03 And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. hear the full conversation plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeartRadio. Listen now wherever you get your podcasts. At the get to the 50, I've learned some things, like the value of the family, the importance of the job, and that the 99% of the people of more of 50,
Starting point is 00:24:44 you know the virus that causes the Culebrilla. Although not all the persons in risk will be developed, I if you the eruption dolorousa with ampollos of years, making that even the tasks more simple, are all a lot of a retort.
Starting point is 00:24:58 No, learn about the culebrilla of the way difficult. Talked or Pharmaceutical, patrocinoed by G.S.K. Today, we're exploring deep in the North American wilderness among nature's wildest plants, animals, and
Starting point is 00:25:13 cows? You're actually on an Organic Valley dairy farm, where nutritious, delicious organic food gets at start. But there's so much nature. Exactly. Organic Valley's small family farms protect the land and the plants and animals that call it home. Extraordinary. Sure is. Organic Valley.
Starting point is 00:25:30 Protecting where your food comes from. Learn more about their delicious dairy at ov.c.c. We're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on its feet here. With Gary Colbomb.
Starting point is 00:25:51 It comes highly recommended. You're going to feel better if you talk to him. Yeah, yeah, yeah. So, I just want to congratulate Delta Airlines. I flew Delta back from New York yesterday, and the weather was horrendous. It was a 3 o'clock flight. The flight ended up leaving about 8, so 5-hour delay. they just handled themselves so well and so professionally under some pretty trying times.
Starting point is 00:26:38 Just so you know, a lot of people coming from Europe land in New York early in the morning for another flight, let's say, to where I flew, Orlando. those people probably spent, if they landed at 9 a.m. And, you know, they got a few hours, you know, layover. They spent 11 hours. And just the Delta people, just about it, you couldn't be more professional than their handling. So big props to them, the people that were there at the gates and stuff. And man, oh man, the weather in New York City was just rain, yuck.
Starting point is 00:27:19 And 50 degrees. And the rain never stopped. And then I get back to Florida today. It's 85 and not a cloud in the sky. Though I heard in some areas of southeast Florida, there's some bad tornadoes. The first week I ever moved to Florida, there was a tornado came through my apartment. It hit, it did damage to the whole apartment except for my room because I had the window open a little bit. That's what they told me.
Starting point is 00:27:50 and cars were just all over the place. No injuries. That was the amazing part when that tornado hit when I first came to Florida. But they are killers. So always be careful. When they tell you this funnel clouds, get the hell out of the way.
Starting point is 00:28:12 All right. Today's market wrap brought to you by Investment-Models.com. That's Jim Rohraback, one of the great market timers. No gray areas with the man you're either in or out of the market with his proprietary indicators go check it out investment dash models dot com down 46 s and p down one and change nasdaq down 14 nasdaq 100 down 14 the socks was up 24 today um transports up 141
Starting point is 00:28:35 advanced declines were 1622 on new york 19 2022 on the nasdaq uh more new lows than new highs on the nasdaq again amazing uh more new highs than new lows on new york i have yet to look at them my will and I you know there are a few that I absolutely know about mixed day but I don't I don't think was really bad the only issues I will tell you and a lot of financials still suck and the regional bank index still looks like the south end of a northbound jackass and interesting enough J.P Morgan was up almost three bucks today on getting First Republic a PNC bank was down eight bucks so one's market capital went up a billion or two, then the other's market cap went down a billion or two.
Starting point is 00:29:24 Here you go, JP. By the way, J.P. Morgan's earned it. This is not a complaint for me. I just think it's laughable that those in Washington, D.C., these Marxists who hate bigness and success, handed it over to the biggie in order to protect themselves. Oh, we can't have more runs on the bank. We'll get kicked out of our job.
Starting point is 00:29:46 That can't happen. No, that can't happen The Fed came out and blamed themselves for the bank Oh, we didn't see it, I'm sorry we didn't see it Yeah When did they see anything You couldn't have bigger quacks Than the people at our central bank
Starting point is 00:30:11 Than our Treasury Secretary at this juncture I don't think it can be any worse I don't think it can be any worse Just my take Anything stick out today There wasn't a lot of earnings before the open So nothing really to report After the close I got a mixed bag of earnings reactions
Starting point is 00:30:41 But there's going to be a lot more this week And we'll let you know as it occurs The big matzabal is Apple this week There's no way they're missing numbers Just letting you know That's my opinion Just an opinion There's no way
Starting point is 00:30:59 Right? Right. They can't miss numbers, right? It's the almighty apple. Wednesday will be Jay Powell, that nightmare. Nothing personal. Just to not be doing what he's doing. He's worse than an amateur. Amateurs don't get the responsibility that he has. So they'll do whatever they'll do and blah, blah, blah, blah, blah, blah, and they're just meaningless to the cause. just interlopers in our life and just a lot of earnings the rest of the week that's all but not a bad day a wild week last week the transports is trading like a penny stock do you realize the transports this index of transportation stocks dropped the thousand points in two days no really the transports and have gotten back uh since 11 o'clock on Thursday of the thousand points let me see what it's gotten back 14 4664
Starting point is 00:32:20 700 that's not normal what drove it i don't know what moved it i don't know i'm just letting you know down a thousand up 700 but still a mess the transports at this juncture that's all in are just a touch above these resistance levels but did not finish that great today the Dow was actually up at one time today about 160 points and finished down 46 the NASDAQ today never was up really big uh 261 that's 50 was up about 40 finished down 14 NASDAQ 100 finished down 14 as i said the socks finished up transports are up 14 and I get asked you know transports economy
Starting point is 00:33:15 how does it go down a thousand and then all of a sudden turns tail what's with that I threw out the conspiracy theory last week that the Fed leaked and oh but they don't leak now got some questions J.P. Morgan I'll buy the hell out of J.P. Morgan
Starting point is 00:33:31 if it breaks above 144 and change but it's not going to happen right now it was up five and finished up 296 today it's going to need some work in here and as we've said to you we wouldn't buy any small ones and the the regional bank index if I knew nothing else but the regional bank index I would think the market's gonna crash and you know I don't say that lightly that's how bad the regional bank index is it's it's stunning and yeah there's there's
Starting point is 00:34:05 news and stuff but it's still all counts and these are regional banks and I I will tell you there's no great look at the big banks. I don't look that great either. Of course, it's better. And just to be repetitive, I'm not investing in any small banks. I won't put a dime in them. No freaking way. Brutal bare market and trust zero on a scale of 1 through 100.
Starting point is 00:34:40 Not because I know anything, but I know how to measure the tape. I look at a photo album for familiar faces and this one looks like the Knicks in the second half of the game against the Miami Heat. Yeah, they lost. I was quite hopeful. It's only one game. But yeah, not a good day. The Knicks.
Starting point is 00:35:12 In the news. And you know where we get our news from? Just so you know. we get it from places that we read about and then verify identify and then if need be we give you our opinion of it and you are free to agree or disagree which we appreciate the first one you know this scrape Governor DeSantis in Florida and Disney. We have been a fan of Governor DeSantis with how we handled COVID and everything else.
Starting point is 00:35:56 We think he's a horror show the last three months. We'll explain that. And hey, Oregon, I've got to talk to you too. I'm Gary. This is the one only investors' edge. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health questions you didn't even know you could ask at the pharmacy counter. In this episode, we are diving into gut health with CVS pharmacist Victoria Motola,
Starting point is 00:36:59 who explains why so many of us live with stomach issues we should not accept as normal. A lot of what I see is just like chronic bloating, chronic stomach aches. Like I get a stomach ache every time that I eat and it just becomes like a lifestyle where, oh yeah, you know, I just have a stomachache every day. or I'm constantly feeling like gassy. And all of those things are not something that generally, if you have a healthy gut, you should be living with. So that's when we deep dive. We deep dive into your medication.
Starting point is 00:37:29 We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change. Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script, a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts. At the get your podcasts, when you get your podcasts, like the value of the family, the importance of the job,
Starting point is 00:37:58 and that the 99% of the people of more of 50 have the virus that cause a Culebrilla. Although not all the people in risk will have been, I see the eruption dolorousa with ampollosos of the mowers during that even
Starting point is 00:38:12 the tasks more simple are all a lot of retort. No, learn about the Culebrilla of the way difficult. So what do you Dr. Pharmaceutical, patrocinoed by GSK. So what do this animal
Starting point is 00:38:23 and this animal and this animal have in common? They all live on an organic valley farm. Organic Valley dairy comes from small organic family farms that protect the land and the plants and animals that live on it from toxic pesticides,
Starting point is 00:38:43 which leads to a thriving ecosystem and delicious, nutritious milk and cheese. Learn more at ovi.com. co-op and taste the difference. So let's start with what are you waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Wester's Edge.
Starting point is 00:39:04 With Gary Kulpach. So let's start with DeSantis. I mean, I don't know what the hell he's thinking. This is his moves. Fight Disney. Here in Central Florida and Florida throughout the years. The amount of economic impact. these people have and had and will have as well as what they do for the community and this guy's
Starting point is 00:39:50 fighting them tooth and nail this is what he's concentrating on and he wants to run for president after Donald Trump driving us up a freaking wall and now he's going to be driving people up a wall hey any of you uh desantis people that work for him listening you better talk to him I know a lot of people that like the Santas that are already getting sick of them. They don't want this. Run the state. Leave them alone. Oh, but they've had their own fiefdom for all these years.
Starting point is 00:40:33 But how has it gone? Has it failed? Has it succeeded? You know what an unbelievable gargantuan success is? Disney! Gary, what about the woke thing? Give me a brain. Come on in the news.
Starting point is 00:41:05 To all my peeps in Oregon, if you keep voting in illogical imbecilic morons, you're going to get illogical imbecilic policies the latest. Oregon now looks decriminalized, homeless encampments, and let the homeless sue for $1,000 if they're asked to leave. I don't even know what to say. This is on top of their incentivizing crime and giving the middle finger to law-abiding citizens.
Starting point is 00:41:49 They do the opposite of everything that should be done from leadership of a state, city, you name it. Yo, peeps, Oregon, when are you going to learn? Chicago just didn't learn. They voted in someone just so you know the biggest problem Chicago was crime and taxes are sending people out. goodbye. They voted in a guy that wants to use social workers instead of police and psychologists instead of police. He'll work. And he wants higher taxes on businesses. They've already had a bunch of businesses just skeddattle. And he wants to press the pedal down. And then they wonder why. And I have been to Portland in a while, but I get emails from my Portland
Starting point is 00:42:51 peeps. I get pictures sent to me. People just sitting on the sidewalks smoking crack. In front of businesses, who's walking into a business with that? And nobody does anything. Well, that was in the news. And again, it's stunning. It's stunning. In the news, Janet Yellen, yes, our Treasury Secretary, that doesn't give a crap about our treasure. The U.S. is going to run out of cash by June 1st because of the debt limit. I just want you to remember the con, ladies and gentlemen, look what they're doing. Raising debt's bad. More debt is bad.
Starting point is 00:43:50 Lower debt is good. Everybody knows that. But they've put us to the point where we have no choice but have to raise the debt limit on spending they already did. That's their excuse. Oh, spending already. But who told them to do that spending? So 32 trillion later, they've conned and got the rating services to say, if we don't raise more debt, we're screwed, which is a lie. It should be the other way around.
Starting point is 00:44:21 And the economists in the tank. Economics 101 simply states, more debt bad, less debt good. Debt bad, less debt good. but we must now, and here's why, because they've put us in this position. They've screwed us royally. Democrat, Republican. Marxist, Republican. Socialist Republican.
Starting point is 00:44:51 Big spenders, doesn't matter who. Bush, big spender. Obama, big spender. Trump got the championship belt. Now Biden's making Trump look like nothing. They all lied. All liars. And that's why we can't have Trump.
Starting point is 00:45:06 We've got to find somebody that's actually going to do it right. You know what Trump's going to do? He's going to walk in. He's going to tell J. Powell take rates back to zero and print money again. Trump's the opposite of everything we need. And then he's going to spend like crazy. Biden got to get rid of him too. He's shown to be a Marxist.
Starting point is 00:45:26 $6.8 trillion proposal for spending? Our last spending bill before COVID was 4.4. they're raising spending 55% from 2019. That's criminal. Of course, it's not a crime, but it's criminal. You get my point. So we're looking for any heroes here.
Starting point is 00:45:53 Janet Yellen, nightmare. Jay Powell, nightmare. Donald Trump, nightmare. Joe Biden, nightmare. Who's next? Because again, ladies and gentlemen, we're not kidding. We don't know the timing. The debt bomb is coming.
Starting point is 00:46:12 The market will reflect it. That's the good news. We'll be in front of it. I can't promise I take it back. The market will show the way. The debt bomb's coming. Markets not going to be able to take it. The economy's not going to be able to take it.
Starting point is 00:46:30 They're taunting it. And they know they'll either be dead or out of office so they don't care. We'll see what happens tomorrow. Have a great evening drive carefully. When you get home, do like we. do. Quite simple. Make sure you hug your family. Make sure you hug your children. They will feel better. You will feel better. I promise. Tomorrow TV, not sure. But we will be back same time tomorrow for the show. Have a great evening, everybody. Take care. Thanks for joining us. Good night.
Starting point is 00:47:01 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. We're exploring deep in the North American wilderness among nature's wildest, plants, animals, and cows? Uh, you're actually on an Organic Valley dairy farm, where nutritious, delicious organic food gets at start. But there's so much nature. Exactly. Organic Valley's small family farms protect the land and the plants and animals that call it home. Extraordinary.
Starting point is 00:47:38 Sure is. Organic Valley. Protecting where your food comes from. Learn more about their delicious dairy at ov.c.c.O.P. At Arizona State University, we're bringing world-class education from our globally acclaimed faculty to you. Earn your degree from the nation's most innovative university online. That's a degree better. Learn more at ASUonline.asu.org.org.

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.