Investor's Edge with Gary Kaltbaum - BIG TIME NARROW

Episode Date: March 30, 2023

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

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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 cbs.com or just come by store we can't wait to meet you store hours vary by location investors edge with gary coltbaum straight talk about you and your money now from the biz talk studios here is gary cult bomb and welcome once again to investors edge i'm gary colpom your host day thanks of being with us today
Starting point is 00:00:51 glad you here ladies and gentlemen happy that you are listening it's uh the 30th of march 2003. So I found something today. It was from February 21st, 2022. We're going to spend five minutes in what we call Gary's lesson time. Are you ready? Let's start with stock called Robin Hood. Well, in case you don't know, it was a $38 IPO, came public at 85. bucks in the first week and we had said to you this was created and we found out like 80% of the trades was crypto and that since it was a bubble to be careful so on February 21st 2022 we're going back to February of 22 it was down 86% from the highs remember It was the noisiest stock out there.
Starting point is 00:02:08 Robin Hood. Robin Hood. Everybody trade Robin Hood. Next. Do you remember Virgin Galactic? That's Richard Branson's. They did a SPAC. The company has never had sales.
Starting point is 00:02:25 I forgot the guy's name that cashed out way in advance, made a ton of money and gave you all the middle finger. On February 22nd, it was down 85% from the highs. Remember, this was touted. This was shouted at you. 85%. Do you remember Fubo TV streaming platform? Another end-all be-all.
Starting point is 00:02:58 Fubo TV. February 22nd. was down 81%. A peloton. Peloton. The shape of things to come. Don't worry. No, no, no, no.
Starting point is 00:03:19 Don't worry. Nobody's going to ever leave them. Who's going back to the gym? On February 22nd, it was down 79% from the highs. Needless to say, it's gone a lot lower. Do you remember Redfin? Real estate brokerage, real estate database. 78% from the highs.
Starting point is 00:03:52 Roku. Streaming. I have Roku at my house. 78% from the highs. This is February 22, ladies and gentlemen, of a lot of these have gone a lot lower. Teledoc. Oh, beneficiary of COVID. But I remember somebody saying.
Starting point is 00:04:16 it's going to be around. Oh, the arc funds have been telling you to buy it all the way down. I'm not sure if she still owns it or not. 78% from the highs. Draft Kings. Draft Kings. You know, bookies. That's all your bookies.
Starting point is 00:04:47 Oh, we pay out. No, no they don't. The losers pay out. just like in the lottery. I love when they say the lottery pays. No, the losers pay out. They're just bookies. Draft Kings on February 22nd, 75% drop.
Starting point is 00:05:07 Playboy. I don't know if you know this. During 2021, it was a hot stock playboy. I don't remember exactly why. 75%. AMC, the theaters. 75%. And a lot more since.
Starting point is 00:05:33 You remember all these? How about Zoom? 71%. What did they tell us about Zoom? Yeah, we know it's a beneficiary, but Beyond Meat, what did we tell you? Dudes, come on.
Starting point is 00:05:59 Who's going to eat plant food forever? You're going to get sick of it. Beyond Meat, February 22nd down 69%. from the highs and much, much lower since. In fact, Beyond Mead hit an all-time high of 239. It's 15 bucks right now, and that's up from the high at 11. That's like 92%. How much was that touted?
Starting point is 00:06:32 Bumble. Dating app. Come on. Online dating app. 67%. Penn National. Another bookie. Now, they do have gaming properties and stuff, but it got into that Draft King thing and stuff.
Starting point is 00:06:55 I believe they acquired Barstool Sports. And that's the guy who went on TV and said, you got to own these meme stocks and never sell them. Buy the Reddit stocks and never sell them. What was his name, Portnoy? Never sell. Oh, he sold. gave you the middle finger.
Starting point is 00:07:23 He was smart. I think he lost a ton, but he sold. That's what losses will do to you. 67% PayPal. Now, I got to tell you, this one caught me by surprise, but then it didn't. PayPal's system sucks. I can't get a hold to anybody for customer service.
Starting point is 00:07:51 There's just like no help. So I've never expanded my business with PayPal. I have a little bit. I don't know. Anybody works with it. That stock has gone from 309. It's 74 bucks right now. But it was down 66% by February of 22.
Starting point is 00:08:13 309 to 74. What is that? It's got to be about 77%. Square, same thing. Game Stop. 65%. Doc you signed 60. These are real numbers, kids. Do you hear these numbers? Why am I starting with these numbers to keep you in check? To make sure you remember them. To make sure all this was touted to you left and right, analysts with strong buy ratings took the strong buy ratings off.
Starting point is 00:09:03 after they dropped 75% on a lot of them. You got me? You saw what just happened with banks. And the same people who were touting you banks at the highs are touting you again down here. Interesting. Oh, I've been wrong for 35%, but please listen to me again. Huh.
Starting point is 00:09:38 And again, we're not here to indict anybody. We're here to make sure that you learn these lessons. By the way, this is from February of 22. A lot of these stocks are much farther down. And remember, stocks that drop 75% can drop another 50%. Thus, the thought process, oh, it's cheap.
Starting point is 00:10:07 What a value. How many times have you heard that in the last couple of years? The bubbles pop February 21. How many times have you heard the words cheap and value? just remember the market does not give a crap about my opinion that's why i don't inject my opinion i interpret market action and the roadmap to keep you in good stead and keep me in good stead but people that don't follow the mode roadmap have no conscience they'll just walk on tube and say anything. My favorite one last week, some guy always comes on and says, well, you know, that's my
Starting point is 00:11:04 music. I'll explain that one in a second and much more. 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. 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, 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,
Starting point is 00:12:13 call us to make an appointment for a complementary portfolio review. The number to call is 888-4-22-5-5-9. That's 8-8-5-9. That's 888-4-2-2-5-9. Investment Advisory Services offered through call-bomb capital management. 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.
Starting point is 00:12:49 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 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.
Starting point is 00:13:22 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.
Starting point is 00:13:48 When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate. With 30 grams of protein and 10 grams of collagen peptides, it helps support healthy hair, skin, nails, and joints, and a smooth, ready-to-drink shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene's.com and get started.
Starting point is 00:14:09 These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. 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.
Starting point is 00:14:36 It doesn't get better than this. So, as I stated, you've got these guys that come on, nine out of 13 times in the last 25 years, this occurred. So this has to occur. And it's never bearish. It's always bullish. And this person has been doing it for like 15 months while things have crumbled. And he was talking bullishly and I'm thinking to myself, is this guy looking at the market I'm looking at?
Starting point is 00:15:20 The banks just crumbled. The energy stocks just crumbled. The managed care stocks just crumbled. Retails in a bare market. The airlines just crumbled. The cruise lines and hotels. and just crumbled. The insurance stocks just crumbled.
Starting point is 00:15:37 Not just the financials, the banks, but the regional banks, and the brokerages and the investment managers crumbled. But he's on there, 13 out of 17 times, but doing it for the last 18 months. And again, we're not here. God bless anybody who goes on there, whatever. It's your job to pay attention. You got to pay attention. and if you don't know by now, some of these names I have mentioned to you
Starting point is 00:16:18 were so highly praised and touted and they dropped 60, 70, 80%, and if you don't know by now, that can happen. You better know. It definitely can. And the new thing, Stuart Varney today, was asking all his guests whether you thought it was a new bull market.
Starting point is 00:16:43 And I was on also, and I didn't get, didn't get to that question, but new bull market? Let me repeat. The financials have crumbled and still act terrible. Energy. Way down. A lot of the retail. Managed care. Autos. Machinery. Hotels. Airlines. Insurance. As I said the financials, the banks, the big banks, the small banks, the S&Ls, the brokerages, the investment managers, a bunch of economically sensitive. In bare markets. So I'm thinking there, wow, people are saying it's a new bull.
Starting point is 00:17:37 And they're saying it because, well, the NASDAQ, NASDAQ, and the semis have been acting pretty darn well here. Our job is to tell you specifics, not generalities. Is generality a word? I think it is. Because if your portfolios are in banks, big, small S&Ls, financials, insurance, a bunch of retail, a bunch of energy, managed care, autos, airlines, cruise lines, hotels, that I mention insurance, a bunch of commodities. and I can name individual names like a 3M. You're getting blasted.
Starting point is 00:18:47 We're going to keep doing our job. And we can tell you it ain't easy. It ain't easy. We've been telling you lately it's very narrow and it's coming down to a lot of technology. Narrow list of technology, though a few more. Some moves off the recent lows in some of the worst areas but still in downtrends.
Starting point is 00:19:15 Gold has been coming on. Some of the staples. Hershey's. Anheuser-Busch. That Novo Norddisk with that diet drug. Ozebbek. OZempec, right? And Intel!
Starting point is 00:19:39 I think I mentioned Intel to yesterday. Up another one and a half percent today. Yay. so we'll stay specific we'll let everybody else throw things against the wall with their generalities which mean absolutely nothing if you own those bad areas
Starting point is 00:20:04 and I can promise you most things that come into us own a bunch of banks just for starters and by the way we don't blame them for that but no action taken as they did cliff die
Starting point is 00:20:23 Why? Just think long term. I don't worry. Think long term. How about thinking long term with Silicon Valley Bank? Or First Republic, which is at 13 bucks. Or Pack West, which is down at nine and a half bucks. Movement you can't recover from. This is why we started the show this way. I just happened to see this and I say, I think I want to start the show this way. And by the way, I left out a bunch of names. A ton more were down between 65 and 95%. 65 and 95% from the highs in a year. Remember Clover Health? 93%.
Starting point is 00:21:17 Oh, that's down to 82 cents now. Yay. I forgot about that one. Oh, and I can keep going and going. Oh, yeah, a symbol ride. somebody i believe somebody was indicted for that lordstown motors yeah we're selling cars spack at 10 bucks took up to $32 they said they had contracts they didn't have squat they still don't have squat oh it's 64 cents okay we're done with that segment of the show we really hope you're listening
Starting point is 00:21:58 because first and foremost, the magnificent great Paul Tudor Jones, one of the greatest hedge fund managers of all time says he manages first on how much not to lose. So we like mirroring people like that, mimicking people like that. And that's what we've done. Ask anyone. We're insane about the downside. And I will tell you, it's hurt us every now and then because we sell too quick. Oh, but it's saved us a bazillion over the last couple of years. And when we mean bazillion, bazillion. If we thought long term, bazillion.
Starting point is 00:22:53 Up next, today's market wrap, movers of the day and all that stuff today. I'm Gary. This is the one only investor's edge. Hi, I'm Dr. Jay Goodman, host of Beyond the Script, the podcast where I sit down with pharmacists to answer the health question 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 stomach ache every time that I eat.
Starting point is 00:23:56 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. We deep dive into your OTC medication. And then at that point, we can probably identify something that we can change.
Starting point is 00:24:18 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. When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate. With 30 grams of protein and 10 grams of collagen peptides, it helps support healthy hair, skin, nails, and joints,
Starting point is 00:24:46 and a smooth, ready-to-drink shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital. Visit VitalProtene.com and get started. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward.
Starting point is 00:25:18 Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu. is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy.
Starting point is 00:25:49 With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And well, once again to Investors Edge. Today's Market Wrap is brought 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.
Starting point is 00:26:17 Go check it out. Investment-models.com. By the way, if you're getting calls from 833 area code and I'm getting a lot, don't answer. And you don't know if I'm getting a lot now from? These ass clowns, they send you an email that your subscription to your, what do they call it? Your computer. I already put it in my spam. and you call them up.
Starting point is 00:27:01 Oh, yeah, support for geek pay. That's the Best Buy. They want you to click on this or call them. And what they try to do is take over your computer. And what's funny is, I called one of the numbers, and you can tell the guys in like India or Thailand or whatever. And I get into a conversation with them, Why are you doing this?
Starting point is 00:27:31 I mean, just out to screw people of their money and kill their computers. You know, they hang up. One guy I actually had a conversation with a few months ago said, you got to understand how poor we are here. He actually got the conversation with me. Be careful with that. Never, ever, ever answer that crap. Including the IRS, the IRS will never, ever email you or call you.
Starting point is 00:27:58 It's usually in the mail. I think 100% of the time. Delp-141, S&P 23, NASDAQ 87, NASDAQ 117. Transports 57. Russell 2000 was down. New lows on the NASDAQ, a lot more than new highs, even with a strong day. About even on the New York. Yields down a little bit today.
Starting point is 00:28:26 Oil prices up. The story is, A narrow list of tech semiconductors and the like doing the trick. The story is the small cap indices not doing the trick. We had a bunch of red today in the smaller regional banks, SNLs and stuff like that. But good clothes today. They were starting to sell it off early. the Dow was up
Starting point is 00:29:02 170 or 80 then it was down finished up 140 the NASDAQ was up 140 then was only up 40 but decent close so this little band plays on right now but I have to tell you
Starting point is 00:29:16 about 2 p.m. today I have this one screen let me define the screen it's energy drugs medical retail managed care
Starting point is 00:29:30 defense, biotech, airlines, cruise lines, hotels, all the other transports, commodities, insurance,
Starting point is 00:29:47 financials, economically sensitive, restaurants, staples, food, drug, beverage, tobacco, and on the right side is the semis.
Starting point is 00:29:58 Take out the semis that have a relative bid. Out of all those areas, I'm not making this up. I'm going to guess maybe 8% of the stocks in those areas. We're above the 50-day moving average and somewhat on the bullish side. Everything else, different levels of gross.
Starting point is 00:30:28 And that's what we mean by narrow. If anything changes there, we'll let you know. You are getting bounces. I mean, they killed the financials. Some are bouncing. but you can just timidly. They killed the commodities and the oils. A little bit of bounce there, but still look terrible.
Starting point is 00:30:54 Managed care still looks terrible. Defense stocks, not good. I can go on and on. I just want to make the point. This is narrow as all heck. We'll stick with the narrow. It's the best way we can put it. And on what I consider to be very high valuation.
Starting point is 00:31:23 and the crumbiest of backwards-looking earnings reports, which has me saying to you and I have been saying to you, there it better be a good earnings rebound in this technology area. Because if there isn't, and we're not saying there isn't, if there isn't, there's going to be hell to pay in the market of these areas. Because there's always an eventuality in the markets. Valuation will matter. And it's having its little day in the sun, and let me be clear,
Starting point is 00:32:10 we're not talking about big bull markets here, but we are talking, there's some new highs. Did we mention rambis yesterday. It was up a little bit more today. That was like a 1990s thought. But we're just letting you know. We're not trying to throw cold water. But we're giving you facts here.
Starting point is 00:32:29 in depth underneath the hood facts you can't have companies trading at 40 times earnings where earnings are down 50% can't happen there's an eventuality maybe not now past four quarters earnings I'm giving you one I'll give you one of the stronger names over the last
Starting point is 00:32:59 three months Nvidia it is now trading at about 70 times earnings trailing. Last three quarters, down 51, down 50, down 33. And the quarter they're in right now, the estimates are to be down another 25 or 30. Now, assuming they beat by a little bit, okay, terrific.
Starting point is 00:33:27 But that'll put it a hundred times earnings. And I'm looking to see if guidance has gone up recently, has not. Estimates are 91 cents versus 136. estimates are on sales 6.5 billion versus last year's 8.2. Now there's an artificial intelligence component in there terrific. But that's later. And by the way, Nvidia is strong stock. We're not saying it's not.
Starting point is 00:33:59 We're just letting you know there will be eventuality if these things don't recover. Yeah, about 90 times earnings if they come in at that 91 cents. And I'm hoping there isn't earnings recover because we, We love tech. Facebook's another one. Last four quarters earnings, down 18, down 32, down 49, down 52. I mean, holy crap. Them dogs won't hunt.
Starting point is 00:34:42 There's an eventuality. But as of this second, no worries. Another day today where they had the bid. Most of them. Not all, but most. and just so you know we're not in bubble markets right now that's gone
Starting point is 00:35:06 so there's so much this is going to expand okay I take that back who knows if we're in a bubble market they're expanding the balance sheet of the Fed anything's possible so just we'll let you know if we think all heck's going to
Starting point is 00:35:26 hit in tech land we'll let you know and they teased a little bit of it for a few days recently but the last couple of days, a wow. A lamb research in the last two days, and I'm not making this up, it went from 532 down to 478 and three days back to 531 in two days. Try playing that. You think this is easy? Up next, this that and the other thing. This is the one only
Starting point is 00:36:03 Investor's 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 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 stomach ache every time that I eat. And it just becomes like a lifestyle where, oh, yeah, you know, I just. just I have a stomach kick 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.
Starting point is 00:37:25 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 I Heart Radio. Listen now wherever you get your podcasts.
Starting point is 00:37:51 When energy dips, your reviving routine deserves more than a quick fix. Reach for vital proteins, collagen, and protein shaking chocolate. With 30 grams of protein and 10 grams of collagen peptides, it helps support healthy hair, skin, nails, and joints, and a smooth, ready-to-drink shake. So your afternoon reset actually sets you up for success. Vital Proteins. Stay vital.
Starting point is 00:38:10 Visit VitalProtene's.com and get started. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose treat cure or prevent any disease. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward.
Starting point is 00:38:35 Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.APUS.edu. listening to. What are we waiting for? Well, what are you waiting for?
Starting point is 00:38:57 One, two, ready, go. Inverster's Edge with Gary Culper. And welcome once again to Investor's Edge. Thanks for being with us today. In the news, online crypto trading company called Biaxie shuts after SEC presses multiple charges against the founder and executives. The regulators are thrown the book on charges of unregistered securities offerings and failed to register in a number of capacities. We had no idea any of this would happen.
Starting point is 00:39:49 In the news, Fed passing the buck on bank failures, they had this guy from the Fed, oh, you know, Michael Barr's name, given all kinds of excuses for regulatory failures and stuff like that. In case you do not know, not only the Fed's job is stability, but the overseer of the banks. Let me be clear. They don't know what the hell they're doing. They give these stress tests which are meaningless. Stress test. I can make any stress test beatable. Stress tests have to include people.
Starting point is 00:40:30 Why? A bank isn't in business if they don't have people. Seriously In the news Europe is backtracking on its gas car ban What do you know Europe said it's going to be totally With the autos
Starting point is 00:40:57 All gas power is going to be gone by 2035 And now they're changing it to 2050 Because they realize The sheer impossibility of it because of battery technology and getting the, you know, you need, what do you need for batteries, lithium and all kinds of these metals that there's no way they're going to be able to get into. We're so screwed.
Starting point is 00:41:28 This climate thing is such a scam and a hoax. By the way, the climate does change, but they're the scam and the hoax. It's such a scam and a hoax. Why can't they just say, hey, we need to. do better pollution and we're going to do everything we can to go green. No, because there's money involved. Got to give our friends money. Got to give government grants. Got to take it ourselves. So we've got to create this big gigantic crisis. It sells. Yay. Will the White House dump Jay Powell? That's in the news. It doesn't matter if they dump Jay Powell at the Fed. The next
Starting point is 00:42:22 person will be just as bad. How do we know? We know who's in line. And they're all just dummies. No, really, they don't have a clue. They have no understanding. Economically illiterate. What? Didn't they go to Ivy League schools? Been in the business of government for years? Let me repeat. Completely economically illiterate. How is it me? Little old me. I don't have any analysts working for me were able to tell you everything that was going to happen and when it started to happen yell and scream it yet they couldn't
Starting point is 00:43:00 and they have what 500,000 people working for them because they're economically illiterate. When you think your God you think nothing wrong can ever happen and just so you know
Starting point is 00:43:16 they think they're God and therein lies the problem they think they're God They think they're God. In the news, I don't know if you know this. Do you know a bipartisan group of senators have been meeting on Social Security to retool it? Oh, interesting. So let's see.
Starting point is 00:43:38 Some of the Republicans have been yelling and screaming that we've got to really address this. Joe Biden says they want to throw Grandma off the cliff. The media rips the Republicans for going after Social Security, going after, yet now we're hearing that a bipartisan group of senators is quietly meeting to retool Social Security before the funds run out. By the way, did you know the funds will run out? By the way, do you realize there's no funds? They're IOUs. And do you realize the money you put in to take out of Social Security is not there? Oh, okay, just letting you know. on the table is gradually raising the retirement age to 70 and creating this $1.5 trillion
Starting point is 00:44:31 sovereign wealth fund which would invest in stocks what I'm going to have to look deeper into that I don't know what that means then that sound like more government and by the way we can never ever ever go to people taking their money out social security and putting in their own account because the people that are taking Social Security out right now or paying into Social Security, you know that money's going. To the retirees. In other words, Ponzi scheme, greatest of all time, brought to you by our government. By the way, go look up Ponzi scheme. That is the definition. And last but not least, the real cost of the inflation reduction act. subsidies, $1.2 trillion. Goldman Sachs report. They told us the subsidies would be $390 billion. It's $1.2. They lied. There you go. Joe Biden in his administration,
Starting point is 00:45:49 taken away the championship belt from the last guy. And that's a high bar on lying. The costs of Joe Biden down the road are gargantuan. increase in spending, size of government, taxes, rules, regulations, fees, fines, mandates, all on our backs. That's what Marxists do. It's called control freakism. Keep voting in these people, ladies and gentlemen. See where it takes us. On that note, have a great evening, drive carefully. Serenity now. And when you get home to like we do, it's quite simple. Make sure you hug your family, hug your children. They will feel better. You will feel better. I promise. Not sure my TV tomorrow, but look it up. We'll be back same time tomorrow. It'll be Friday. Have a good one, everybody. It's right now, all tech, just about. Peace out. Take care. Bye-bye.
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 Gary K.com. That's Gary. K.com. Every day the headlines shift, but the uncertainty never seems to fade. From rising geopolitical tensions to record U.S. debt and ongoing debates about inflation and money printing, Americans are watching economic forces that feel far beyond their control, and for many, that instability is showing up in retirement accounts, personal savings, and long-term financial plans.
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Starting point is 00:48:11 Gold or Silver, text IHeart to 50505 today. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey. Learn more at APU.apus.edu.edu.edu.

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