Investor's Edge with Gary Kaltbaum - D Day [06.06.2024]

Episode Date: June 6, 2024

https://garykaltbaum.com/...

Transcript
Discussion (0)
Starting point is 00:00:00 Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands. And their innovative horizontal quick-draw fly is a game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort.
Starting point is 00:00:26 That's Tommyjohn.com, code comfort. Tommy John. Comfort perfected. Investor's Edge with Gary Coltbaum. 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 Colbom. I'm Gary Coltbaum, your host day.
Starting point is 00:00:46 Thanks to being with us today. Glad you here, ladies and gentlemen, happy that you are listening today, the 80th anniversary of D-Day. It's a Thursday here. Hope you're having a good day. Ladies and gentlemen, this is serious. talk about everything that affects you, everything that matters. Whether it's the economy, your job, your industry, the markets, the Morlocks in D.C., you name it,
Starting point is 00:01:10 we cover it, but I must start out today. Oh, if you do not get this radio show in your city, we'll post it at garyk.com. We'll also post it on our Twitter feed, which is now X. And if you don't follow us on X, you should follow us on X. And if you want to email, all you got to do is be nice. That's all. Tell me you disagree with me 1,000%. Tell me Fauci is a scum, like a couple of people have.
Starting point is 00:01:40 Just do it respectfully. It's okay. But we start today with D-Day, and then we'll get into the market. It's quiet day for the indices, but a few pieces of jello moving on the plate. There have been pretty much, I think in all our lives we have, moments in time, places we've been to, that really moves us, really sticks out like a big, gigantic sore thumb. For me, Auschwitz. And I have to tell you, there was a moment at Auschwitz where they guide you through and you have these rooms behind glass windows because you can't go in them.
Starting point is 00:02:33 And one of them had suitcases of the murdered. Another one had eyeglasses. Another one had hair. And I pretty much fell to the ground. It's how much impact it had on me. My wife had to basically pick me up. Also, in Israel, there is a Holocaust memorial called Yad Vashem. But Auschwitz, really, another was, I don't know why, I don't know why I got the privilege and the honor.
Starting point is 00:03:17 But I was asked onto Neil Cavuto's Your World overlooking the 9-11 site and me knowing what was there beforehand. because I had been in the World Trade Center quite the many times. I don't know if people know, they were gargantuan. The amount of space and building and surrounding is gargantuan. And there was nothing there. I was there overlooking. We're in a building up high. I remember Secretary of the Treasury,
Starting point is 00:04:05 John Snow was a guest. I went right after Al Sharpton and the mayor, Ed Koch, he wasn't the mayor at the time. And I remember going up and being talking to Neil and I didn't hear a word he said. Nothing was working. I winged it. I think it came out okay. But that hit me. just because when you know what it looked like before and then after, and then there's Normandy, number three for me. You know, we watch Savings Private Ryan, there's other band of brothers, there's other things. But until you're there, the enormity, you know, at the saving Private Ryan at the beginning, It's minutes before, oh, they get up above the cliffs, take out, whatever needed to be taken out.
Starting point is 00:05:11 No, it took hours and hours and hours. The conditions were ridiculously bad. The conditions for the planes were ridiculously bad. For the paratroopers were ridiculously bad. And I've been there twice and I just happened to have two great guides that really explained a lot of things. look up hedgerows and how important they were back then also. And all I know is I'm sitting there watching today these 100-year-old men, 100-year-old that went into the belly of the beast on a suicide mission for the freedom of the world.
Starting point is 00:05:56 and I posted a video and pictures of the American cemetery how many Americans died for our freedoms and these 100-year-old, I'm not sure they got their due today and while they're there, I don't think they get enough of their due and it has me doing a lot of thinking recently because as you know I've been blasting the hell out of these students at these colleges and their racism and their anti-Semitism and their anti-Americanism. They're putting up things about F America. They're taking down American flags and putting up Palestinian flags.
Starting point is 00:06:41 And I'm just thinking to myself, that age back then were being sent into the waters north of France. into these boats, throwing their guts up, and then ready to be sitting ducks. Yet these whiners and complainers about, how come we don't have food while we're sitting in our encampments? So all these things get you doing some thinking about what's real, what matters, what doesn't matter, and how stupid these young men and women are.
Starting point is 00:07:30 But as I've stated to you, it's tick-tac-toe. You can't even have a discussion with them. You can't even talk to them. It's just like tic-tac-toe. You can never win the game so you don't even play it. You'll show them video of Hamas murdering Jews, and they'll say it's artificial intelligence and it never happened. What are you supposed to do about that?
Starting point is 00:07:58 Again, tick-tac-toe. So I'm just letting you know, backtracking a little bit, if you haven't had the chance to go to Normandy and the surrounding areas and the beaches there and get a great guide in the museums, try. It's a flight to Paris and a two-hour train ride north through some magnificent small city. he's Ruan, quarantine, and others.
Starting point is 00:08:29 I went to my wife one time. I went in my son one time and my son still talks about it. Just letting you know how much those things have affected me. And I'm actually really pissed off at myself right now that I didn't go up to the 80th anniversary. I could have. as you know I'm dealing with a 90-year-old mom 92-year-old father I'm back and forth to New York every weekend I've hadn't had a trip no vacations no nothing
Starting point is 00:09:06 so I'll give myself that excuse but man I should have just jumped up there for a few days and be back by tomorrow oh well anyway I just wanted to start the show with that because then we have to get into nonsense as you know Now we segue. GameStop was up 15 bucks today to $46.55 at the close. No, I'm not making this up. And I have to tell you the reason why.
Starting point is 00:09:38 Because the roaring kitty guy said he was going to have a streaming video tomorrow. I swear that's the reason. So SEC investigation on them or him. others investigating on him and the stock was still up 15 bucks because he announced he was going to have some sort of streaming show tomorrow I will repeat to you what I have said to you
Starting point is 00:10:08 whether it goes up or down A I have no clue what happens in the short run I think yesterday we said we don't know if it goes to 100 tomorrow or 15 well it went to 46 and change today up 15 we don't know what happens tomorrow we don't know what this dude is streaming tomorrow when the music stops
Starting point is 00:10:36 just don't be the last one in it will I don't care what this guy is getting away with it will eventually I don't know when that is and I don't know from what point it will eventually go back to where it's supposed to go, not knowing what tomorrow brings. As always, we are not telling you to buy, sell, short, or cover. It's your money you get to decide.
Starting point is 00:11:04 Three words, pick your poison. And we wish you the best of luck. Up next, the markets, news of the day, whatever else today. Thanks for being here. I'm Gary. This is the one to only invest. Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge.
Starting point is 00:11:38 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 00:12:02 will 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 888-4-2-5-59. That's 8-8-5-59. That's 888-4-22-55-59. Investment advisory services offered through call-bomb Capital, management.
Starting point is 00:12:33 Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands. And their innovative horizontal quick-draw fly is a game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less.
Starting point is 00:12:56 Go to Tommyjohn.com today for 25% off your first order with CodeCompert. That's Tommyjohn.com. Comfort. Tommy John. Comfort perfected. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge Access is subject to change. See Capital One.com for details. Agents who are realtors do more than open doors. They analyze market trends, interest rates, comps. They can tell you about flood zones, mixed use zones, and decode acronyms like HOA, APR, MLS. They connect you to lawyers, contractors, even Phil, the Sewer Scope guy. They negotiate, coordinate, advocate for you, close the deal with you, and hand the keys to you.
Starting point is 00:14:00 They bring you home. Realtor's are most. members of the National Association of Realtors, right by you. 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 00:14:23 It doesn't get better than this. And welcome once again to Investors Edge. If you don't mind, I have to give a shout out. And I'm going to give a shout out to a woman that I think I've met twice. over at Fox. I know I met her once at a Fox News
Starting point is 00:14:49 Christmas party for the business people. I think I met her a second time. I have never appeared on air with her. And I don't even know if she knows who I am. If she saw me, even though I'm enough on TV, she's probably seen me.
Starting point is 00:15:07 Martha McCallum in the coverage of Normandy A plus plus plus plus I love
Starting point is 00:15:21 this woman's journalism whether it's in Britain with the queen and what's going on there she knows everything and then in Normandy
Starting point is 00:15:35 I'm just does her homework and you know when you know somebody's doing good journalism when they're asking questions that you really want to be asked. Of course, you know when there's bad journalism like that CNN woman that had Biden lying out his rear end for whatever time and she sat there and she knew he was lying. Anyway, big shout out to Martha McCallum. This is just a plus, plus. She does the three o'clock show. She also does a lot of the politics.
Starting point is 00:16:14 She's done presidential debates. As far as I'm concerned, I can't even say enough. And by the way, she doesn't even know I'm saying this. She doesn't know me. But just letting you know if you got a chance to watch her, dang. She can write the book on good journalism. Demeanor, tone, knowledge, the works I was. just captured by watching her and listen to today
Starting point is 00:16:48 unbelievably great interviews with a hundred-year-old men that risked their lives and just wow and now we move on where do I even want to start okay so the Dow is up 78 not much
Starting point is 00:17:11 a couple of things of note Amazon's in the Dow now and that finally got back above the 50-day moving average. It's just range-bound. But if it's going to get going, the first thing that has to happen is that. Otherwise, in the Dow, Salesforce.com was up six. A few things, one or two.
Starting point is 00:17:35 Not much going on. The S&P was down one. Whoopty-Doo. The NASDAQ 14, NASDAQ 100, down 14. Transport's down 42. Advanced declines. Flatish on the New York. 1624 on the NASDAQ.
Starting point is 00:17:50 and video opened up 30 then was down 40 and finished down 13 and video after the close tomorrow's got a 10 for one stock split in case you don't know if you got 100 shares you're now going to have a thousand and if the stock closes tomorrow with 1,200 it'll open up at 120 we hate stock splits like this but we have no control of them you may say, hey, wait a minute, it doesn't change the dynamics. It's the same market cap. Yeah, but it changes the dynamics. And you know what that is?
Starting point is 00:18:31 10 times the amount of shares outstanding, it will trade differently. I used to be the one that loves splits. I think nobody should split stocks anymore. And if you've noticed, things like Chipotle, a 3200, booking holdings, 3,800. Hey, NVIDIA got the $1,200 would have to worry about stock splits. But that's their decision. By the way, Chipotle is doing a $50 for one stock split. It's going to go from $3,200 to what, $70, $60-some-odd bucks?
Starting point is 00:19:08 I hate that. But the market don't care what I think. Just letting you know, I told you weeks ago that I'm doing a big study on AI, and I must tell you it's still very up in the air about outcomes. I don't think the CEO can tell you outcomes. My main worry is people. The AI and just so you know, the word quadrillions comes to mind. I was watching a video at BMW, how they were using AI robots to build the cars. they're doing it as they're checking it out, that will replace people.
Starting point is 00:19:58 And I'm just wondering how much of that is going to go on. Now, the CEO of Nvidia says, well, wait a minute, if the company's doing great, you're going to need people. But I'm talking about in the manufacturing part of it, the actual nuts and bolts of it. So we'll see, I don't know, but I am studying it big time. Doesn't mean I'm going to make money. Doesn't mean I'm going to lose money on it.
Starting point is 00:20:24 I just want to have a very good understanding of it. I am not a technology whiz by any stretch of the imagination. I don't know potato chips from semiconductor chips. Well, a little bit. This AI thing is just... Now, I will tell you, there are others that say, wait a minute. This AI stuff, by the way, that's Winston in the background. We keep them at our office.
Starting point is 00:20:49 this AI thing has been around for a long while. Why all of a sudden? You know what my answer is? I don't have a clue. But whatever it is, it's building up. And whatever it is, as I have stated, there's been a lot of movement and a lot of stocks that don't have very good earnings and revenue growth.
Starting point is 00:21:13 In fact, have majored down earnings and revenue growth that are going skyward because of what they say about AI. Eulet Packard yesterday, I was not making it up. A total of 99 times they said AI in the conference call between the CEO and the CFO, I think it was 60 times. So leave no doubt the marketing is out there. In time will know outcome.
Starting point is 00:21:46 I wish I knew. I do know one thing. the last four quarters of Nvidia revenue 13, 18, 22, and 26 billion By the way, before that 13, 4 quarters ago I believe the quarter before that was 7. So there's a rhyme and a reason to that company and whether it goes to others
Starting point is 00:22:12 we'll see. I have not seen it yet. I've seen some betterment in some companies I have not seen gargantuan leap forwards, leaps forward, or leap forwards for other companies with gargantuan earnings and revenue growth. I gather the market will flush it out in time if they show up. Market is very good in knowing. We've also seen some of these energy companies move up on.
Starting point is 00:22:51 crappy numbers. We'll see. Up next, more in these markets, news of the day, whatever else today. I'm Gary. This is the one only investors' edge. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands, and their innovative horizontal quick-drop fly is a game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort.
Starting point is 00:23:37 That's Tommyjohn.com code comfort. Tommy John. Comfort perfected. This message is brought to you by the Capital One VentureX card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination.
Starting point is 00:24:01 Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change. See Capital One.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need,
Starting point is 00:24:22 explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is, Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones.
Starting point is 00:24:53 Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. You're listening to. America 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 00:25:16 With Gary Coltbaum. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. Thanks for being with us today. Again, on X, a bunch of pictures I put up. One with me and my son, also, the handsome and powerful Eric. And again, if you got a shot to go, Paris, two-hour train ride.
Starting point is 00:25:48 Boom. North, up to the cliffs. And I still want to know how they were able to get up those cliffs. When you get to, you're like, how is that possible? Anything else stick out for me? A couple of things today. Gold. gold held right where it should hold.
Starting point is 00:26:12 We mentioned this yesterday. We're saying it again because it went up another three quarters of percent. Gold held right where it should hold if it's going to continue its uptrend. But as of right now, it's in a one, two, three, four, five, six, seven, eight-week trading range after going up six weeks. from 194 breakout to 225, then going down to 210, touching 225 again and fading that. The gold miners did exactly the same thing yesterday, right off the 50-day, and the miners were much stronger than the metal today. And I got to tell you, the miners did something that I didn't expect.
Starting point is 00:26:59 We look at short-term and long-term resistance. the miners blasted through short-term support big time on Tuesday. I'm thinking they're done. They're back right above it on Thursday. The big gigantic middle finger to anybody think it was over and done. So they remain in good stead, though, range-bound. Think of it as a sharp move up and then a right turn for, six, seven, eight weeks. Then we'll see if it decides to make another sharp move up out of this range.
Starting point is 00:27:43 We think it may take more time, but for you gold bugs out there, still okay, and I'll have to say the same thing about silver. If you want to know what we're talking about, go look at the SLV. That represents the price of silver in the market. Crypto, right at resistance. For the past two or three days have not been able to get through. If it can get through, can have another leg up for the Bitcoin. Just letting you know. And again, I still don't understand it, but boy, oh boy, they are touting it and they're jumping all over it. A bunch of investment banks and banks and brokerages that said a year ago that it was BS, scum, scam, stay away.
Starting point is 00:28:32 All of a sudden are coming out with ETFs left and right, how great it is. why is that? Oh, it's called greed. They still think and they what the hells is going up for? What's behind it? Well, there's nothing there. There's no earnings of sales, but they've been going up in price and others are making money because of it. So let me get it also. Which reminds me a little bit not equating, but kind of sort of back in 2008 when you had certain investment banks and brokerages come up with trunches of mortgage-backed security. that they got rated AAA because they were colluding with the rating services and on email and text telling each other, boy, this is a bunch of, and they used the other word for crap, and then they would sell it into the open market, and then immediately short it, which probably should have somebody arrested.
Starting point is 00:29:27 Nobody even got a slap on the hand. I'd be out of the business. So just letting you know Wall Street's doing the usual. You remember the old example? I gave you. You remember? Do I have to do the nauseating example again? Okay. If you were walking your dog and your dog did what he has to do and somebody walked up and said, I'll pay you 10 bucks for it, sure, I'll take it, takes out a bag, walks away with it, somebody walks up to him and says, I'll give you $20 for it, gives them 20, walks away with it, somebody walks away with it, somebody
Starting point is 00:30:09 walks up, I'll give you $50 for it. Sure, make $30 quick, boom, walks away, the next guy gives $100. And then so on and so forth, and all of a sudden, I'll give you $1,000. And the person that wants to give $1,000 is the head of investment bank that brings company public, or does SPACs, pays $1,000, gives it a market cap of $1,000, and then does a SPAC with a lot of $1,000, and then does a SPAC with market cap of a hundred million bucks and puts it onto the market and says yeah we know it's just dog crap but we are going to create an electric vehicle company out of it and we're going to do a spack a little bit of sarcasm a little bit of joking right well that's what wall street did they just didn't do it with the dog crap and all of those spacks are either at
Starting point is 00:31:06 zero or not trading anymore. There's your underside of Wall Street, unfortunately. Because there's such a good sides of Wall Street. Unfortunately, a select few through the years, what do they call them? Shortcuts? Anyway, that little example I don't think was too far-fetched, unfortunately. I got 100 questions on. on NVIDIA. All we can tell you is, as we have stated to you, we bought it 505, sold it the day after the big reversal on March 8th, made about 70 some odd percent, got out, bought it like seven, eight days before earnings, got out before earnings, we were too scared. I think we made $2.
Starting point is 00:32:02 bought it right after earnings on the gap. Watch it go up $200 to the open this morning. Instead of being up 30 on the open, finish down 13. Still up about 170 points, 16170. I don't know from here. If it's to go higher, the hope is right now, let it settle down. Let it quiet down. I don't want to hear people talking about it left and right.
Starting point is 00:32:35 It's got a little bit too noisy, which is okay, but we'll watch to see if it starts trading crazy. We'll watch to see what the split does because we really don't know yet. But in case you don't know, with the split, it will be 25 billion shares outstanding. 25 billion shares outstanding. I wonder how that's going to trade. I got to make sure that's right. 25 billion times 10 is 250 billion times 100 is... Yeah, 25 billion shares outstanding.
Starting point is 00:33:30 Holy crap. I'm actually a little bit speechless about how big some of these things have got. God bless. Quite the wealth. builder, 25 billion. How many is out there on Apple right now? 15 billion shares outstanding. Okay dokey. We're on it. We'll let you know. Our simple goal will be continue to go forward, what you should avoid and what's leading. And as always, you get to decide. Indices are fine. Small caps continue to woefully underperform, and plenty of areas still stink.
Starting point is 00:34:29 The transports we have discussed with you, a lot of the retail still stinks. And recently, and not a good day again today, for a lot of economically sensitive stuff like building, housing, construction, and materials, and machinery, and all that crap, which has us what's going on with the economy. The good news is no chance a recession yet. No chance of a deep recession yet. How do I know? Because I would suspect the Dow would be at 35,000 right now as the market is always flushed out a recession in advance. Right now, it's just some areas.
Starting point is 00:35:11 If it worsens, we'll let you know. You can't hide it. Up next, news of the day. whatever else today this is the one only investors edge guys it's no use putting it off the best time for an underwear refresh is now
Starting point is 00:36:10 Tommy John underwear is designed for a perfect fit that stays put all day their zero chaf thanks to four times more stretch than competing brands and their innovative horizontal quick draw fly is a game changer with over 30 million pairs sold there are thousands of men out there more comfortable than you
Starting point is 00:36:26 don't settle for less go to Tommyjohn.com today for 25% your first order with code comfort. That's Tommyjohn.com code comfort. Tommy John, comfort perfected. This message is brought to you by the Capital One Venture X card. VentureX offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject
Starting point is 00:37:05 to change. See Capital1.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now. I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen. Apple Podcasts, Spotify, and about a dozen apps your cousin swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones.
Starting point is 00:37:48 Start your show today at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Inverster's Edge. With Gary Culper.
Starting point is 00:38:11 And welcome once again to Investor's Edge. Cause and effect. For every action, there's an equal and opposite reaction. We told you, under no uncertain terms, these idiot Marxist socialist control freaks that run California who abuse the taxpayer and the only reason they even look like they know what they're doing is because of the people that work their asses off there we said to you they are tempting faith if they raise the minimum wage up to 20 for fast food well in case you don't know there's a place called Rubio's coastal grill and I know it well
Starting point is 00:39:02 because I've been there plenty of times. It's San Diego-based. I used to live in San Diego for a little bit. And they have the greatest fish tacos of all time. Oh, they're shutting down 48 California locations, citing the rising cost of doing business. What did we tell you? if you raise the cost of doing business for companies without any productivity gains, there is going to be repercussions in the form of fewer hours, fewer people, or we're getting the hell out of here.
Starting point is 00:39:50 Rubio's is shutting 48 of them. They were very diplomatic on just saying rising cost of them. doing business but everybody knows it is a combination of inflation as well as that stupidity there's also now on the $20 per hour fast food minimum wage took effect on April 1st is being blamed for 9,500 lost jobs and that's just through the end of April Duh. And you know what else it's done? It's forced others to raise the 20 bucks.
Starting point is 00:40:31 It continues to be amazing that people who've never run a business are dictating to business and just screwing things up when all you got to do is stay the hell out of the way. But no. Marxist, socialist, control freaks. in the news the united airline CEO says spirit air and frontier will eventually go out of business because they are terrible poor customer service in case you don't know spirit was going to do a merger with jet blue and our wonderful government said up yours so spirit stock went from 17 down to 360 where it is. They're losing a ton of money. Sales are down. And let me state for the record,
Starting point is 00:41:24 I flew them once a few years ago and I promised I would never fly them again. Frontier, I just flew. And my biggest problem with Frontier is very simple. What the hell is this paying 40 bucks for a ticket? And by the time I have to add the things that everybody needs anyhow, I'm 180. So what? Why don't you just do the price at 180? It's just stupid business. I'm serious. They were, where was I going to? Was it Raleigh to visit my goddughters?
Starting point is 00:41:59 $49. I'm like, yeah. And then I go on there and I look that. Oh, I got to pay to have my bag on the plane. And my laptop bag also. Oh, if I want that better seat. I got to pay for that and it went from
Starting point is 00:42:21 49 to 180 before you can say boo and they then email me with a survey you think they even read the survey when I set the frontier yo why don't you just make it 180
Starting point is 00:42:36 what is this advertisement of 49 by the way both airlines got me there safe so I got that going for me I don't know if the United Airlines guy was full of crap, but who knows, maybe he's on to something. We'll see.
Starting point is 00:43:03 In the news, do you know 98% of Warren Buffett's current net worth came after he turned 65? You know, I'm not there yet, but that has me having a lot of hope. I think I'm a smart guy. 98% of his wealth after 65. I just saw that and I figured that's a good thing to say in the news to you guys. In the news.
Starting point is 00:43:40 Have you watched this Federman guy? You know, the right was making fun of him big time when he got elected because he's got some issues. I got to tell you, he pretty much sounds like Reagan on all his policy thoughts. seriously I mean he dresses with the hoodies I couldn't care less he sounds like Reagan he sounds like a non-intrusive
Starting point is 00:44:15 person in government that believes in the people not the government I got to give him a big shout out man we need more people like that I gotta tell you I don't think there's any Republicans like that at this juncture they talk a big game
Starting point is 00:44:36 and then they run trillions of dollars of deficits. We here are still waiting for a hero in either party that doesn't know how to balance a checkbook, but wants to balance a checkbook. So shout out to Federman. And that's a little bit of my news today, but the big story again is D-Day. and wow
Starting point is 00:45:09 just watching by the way they were talking about a lot of them won't be there when on the 90th anniversary obviously as they get older a bunch of them were in wheelchairs and have not been out of the wheelchairs forever and they all stood up and saluted today
Starting point is 00:45:30 a big wow tomorrow I should be on with the great Neil Cavuto in the noon hour Fox Business Network. Check that out. Same time tomorrow for the show. You 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. And if you find a veteran or see a veteran, uh, salute them or her. Peace out, everybody. Stay well. Be well. Serenity now.
Starting point is 00:46:06 This has been Investors' Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryKK.com. That's GaryKK.com. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands. And their innovative horizontal quick-draw fly is a game changer.
Starting point is 00:46:36 With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com code comfort. Tommy John. Comfort perfected. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase.
Starting point is 00:47:06 bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details.

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