Investor's Edge with Gary Kaltbaum - EASIER MONEY [12.10.2025]
Episode Date: December 10, 2025https://garykaltbaum.com/The opinions you hear on BizTalkRadio, BizTV, or BizTalkPodcasts are those of the hosts, callers, and guests and do not necessarily reflect those of BizTalkRadio, BizTV, or Bi...zTalkPodcasts, its management or advertisers. The information on BizTalkRadio does not constitute a recommendation, offer, or solicitation to buy or sell any product or securities. Please consult a professional before investing.
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Investor's Edge with Gary Cultbaum.
Straight talk about you and your money.
Now from the BizTalk Studios, here is Gary Cultbaum.
And welcome once again to Investors Edge.
I'm Gary Colbaum, your host.
A thanks for being with us today.
Glad you here, ladies and gentlemen, happy that you are listening.
It's Wednesday.
It's the 10th.
It's December.
Heading towards the holidays.
Hope you have some good plans with you and your families.
Just make sure you travel safe, take your time.
If you're on the road, don't be drinking, and all that crap.
You know what?
I'm breaking my record this year on drinking.
You know how many drinks I've had this year?
Alcoholic drinks.
Three.
Last year, I think I had five.
I'm at three.
Hmm.
I'm going to be up in New York City for Christmas, so maybe, well, you never know.
Anyway, you can see how much I like alcohol, right?
one of the most overrated aspects of life is alcohol.
And by the way, it's good to see that the alcohol consumption in this country is at record lows.
Good to see.
Serious talk on everything that affects you.
And of course, we're going to talk, unfortunately, about a central banker named Jay Powell
who lowered interest rates today and then said some other things.
and we're going to do what nobody else wants to do for you, and that's tell you the truth.
You know what we mean by that?
We have no agenda, alteria motive, or bias.
You know what I mean by that?
You have been told because the president says, Jay Powell sucks, and he's been too late,
and he should have been lowering rates more, and we should be at 2%, or we should be at 1%.
and that is Jay Powell's little Fed funds.
And unfortunately, the president has made him famous again.
I love the fact that he was off the front pages.
I love the fact we got away from having to think about him too much,
and now we have to worry about every little thing he does and says
because you've got a president trying to cover his own butt.
You know what that means, right?
Oh, it's everybody else's fault if something goes wrong.
So cover the buts, unfortunately.
Anyway, we'll get to that, and we will be specific on what happened today, why it happens, what the potential outcome is.
Does it affect you?
That's the big key.
Will it affect you what happened today?
We'll do the markets, the economy, your job, your industry, and anything else that comes to mind, including the Morlocks in D.C.
And I have a little bit, just a short amount of tidbits today because
I love my peeps.
They send me things.
And we have a few numbers to mention to you in a little bit.
If you don't get this radio show in your city,
we'll post it at garyk.com.
We'll also post it on our X feed.
And if you don't follow us on X, you should.
If you like to email us, just be nice.
We'll also post it on the YouTube channel of BizTV and other podcast apps.
Okay.
So the Dow was up a percent.
The S&P was up only about, hold on, the S&P was up, blah, blah, blah, 0.65%.
The NASDAQ was up about, not even a half percent today.
But the transports are up 2.5% today.
very strong day for most financials and believe it or not,
I've got a slew of regional banks at one-year highs.
Now, when I say one-year highs, I just mean a year.
None of them are at all-time highs.
Just remember we had the Silicon Valley Bank thing many moons ago,
and we're way away from that still,
but the good news is regional banks, new yearly highs, good to see.
Okay.
so I'm going to do something for you right now and that is Fed funds I'm going to click on it
what is the Fed funds rate what is I know what they are but I'm going to explain it's the
interest rate banks charge each other for overnight loans to meet their reserve requirements
whatever the hell that means
to meet their reserve requirements
you can look all that up
now you say to yourself
who gives a crap
why do we care
well first off
we've had a central bank
that became very much
what they're not supposed to be
an interloper
an interferer
in free markets. Remember, we're supposed to have free markets. You know what that means
a free market? It's the buying and selling of traders, speculators, investors at a certain
point, at a certain time, at a certain size, without the interference of people in government.
Don't you think? All you free market conservatives, don't you think? This is what we'd like?
well instead let's go back to 08 you first had ben burnanke now in case you don't know the fed
is supposed to oversee banks and lenders and ben burnaki sat on his arse and did not oversee them
while they were doing five to one ten from one on mortgage back securities he watched how the
rating services rated mortgage back securities triple a while emailing each other saying this was a bunch of
crap. You had Goldman Sachs actually come out with a trunch. It means a bunch of mortgage-backed
securities and sold them. In other words, they make a fee for putting them together and selling
them and immediately shorted them knowing how bad they were. And no one went to jail. Nobody got
indicted for all the massive fraud that went on. And Ben Bernanke at the time said, well,
we need help. What did they do? They took $800 billion of our tax dollars.
and handed them over to the crux back in 08.
And what did Ben Bernanke do?
He started printing money to loosen up the system and lowered rates to loosen up the system.
And that's what actually does happen.
When interest rates come down, the Fed funds, it loosens money up.
And they think it makes things better.
So Ben Bernanke starts printing money in the, you know what he said?
It's only temporary.
and of course
we went to
first Janet Yellen
another adult
and then we headed to Powell
and we hit COVID
and what did he do
well we're not going to say he was wrong
about doing it
I wouldn't have done it but he
took rates those Fed fund
rates down to nothing
I mean nothing
and then he printed
to nine trillion bucks
and you ask yourself, how to hell can one person, unelected, go to a computer and print to $9 trillion?
Now, I know with the word trillion, you'll have to trust me when I say it's huge.
And I think we're in about $4 trillion.
So we printed $5 trillion.
He took the $5 trillion and interfered with the bond market.
and took the 10-year down to a half percent because he kept just buying more and more and more and more bonds.
And the people that were in the bond markets knew, hey, we ain't going to do any sell them.
We're going to buy along with them.
And that's what they did.
And it took it down.
And you were able to get your 3% mortgages and refinanced to your 3% mortgages, which forced up housing prices and created all the freaking distortions.
Jay Powell is ground zero for all the crap that's going on.
But of course, he never gets the blame because he's not elected.
Why do you want to go after the head of the Fed when you can say it's all Joe Biden's fault?
Well, Joe Biden was a part of the fault because he decided to amp up the size of government,
which is somewhat inflationary also, but the inflation was caused by Jay Powell.
Too much money chasing too few hands.
And when you're dealing with $9 trillion, we're talking about an unimaginable amount.
So he created all this inflation.
Once he stopped printing money and buying up the bond market, the bond market gave him the middle finger.
So interest rates, real interest rates, not as Fed funds, started going higher and he realized, holy crap.
So they came out and lied to us and said, don't worry, inflation is transitory, no big deal.
And interest rates kept going higher.
Inflation kept picking up.
No, crap.
So they had to start raising rates and catch up.
And once he stopped printing and raising rates, the inflation started coming down.
The other thing he started to do was not only not printing, but as bonds mature, he let him run off.
So instead of $9 trillion, you had $8.9 trillion, then $8.8 trillion.
And by the way, that's the right thing to do.
They should not have a balance sheet.
What the hell?
So they kept letting it run off and run off and run off and run off, and that we bring in Trump.
So what does Trump do? Jay Powell sucks. Jay Powell's this. He needs to cut rates a little more. He's only political. And of course, he had his minions defend him. Say, yeah, he's only political. And that's not true. That's not true. It's made up.
Jay Powell sucks at what he does, but he's never done anything political.
What he has done is played catch-up on everything. Which will fast forward to today. We'll explain.
Hey, thanks for being here. I'm Gary. This is the one only investors.
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
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8-8-5-5-9. That's 888-4-2-2-5-9. Investment Advisory Services offered through
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So, what does human nature tell you when you have the President of the United States, the loudest voice in the world,
calling you an ass
calling you a jackass
calling you a moron calling you an idiot
calling you a doofus
what does human nature say
what the hell do I got to do to shut him up
what do I got to do
so he starts lowering rates
to please the president
I can't deal with this anymore
and of course there's 12 voters
but as you know
he's the head honcho and he's probably
sitting there saying, listen, I can't sleep at night. My wife won't even talk to me. I can't
help me out here. So they've been lowering interest rates. And by the way, rightfully so.
Why rightfully so? Well, as I have told you, his rates don't matter much to you.
They matter much to the market and your 401k. But you're not going to get a job because of him lowering
rates. The economy isn't going to start going gangbuster because of lowering rates, but the
markets. So we lowered rates today, and what have we told you? Jay Powell needs to listen to the
market going forward. And that is, you can be a little bit lower than the 10-year yield, but don't
be too much because here comes that inflation again. By the way, you all like that 9%
inflation? That's right. I don't think so. So he lowered.
rates but here's the other part of the equation they're saying now well you know that runoff of all
that printed money that should never have been printed well i don't know how much the feds balance sheet
is now but as i speak to you i actually should just say feds balance sheet you like when i do that
number let's see if it comes up with a number it's at nine true they say now
it's at 6.5 trillion, so he let 2.5 trillion run off. Good. Well, he says they're not going to let it run off anymore.
So what happens when one of those big bonds mature? Well, all of a sudden he's got that money, what is he going to do?
Buy bonds again? Well, that would be the chalk. And if he buys bonds again, isn't that going to help real interest rates come down?
potentially yes
but what if he goes too easy again
is there a chance
that's going to cause the inflation again
well that's the rub
I hope I explain this to you well
so he's at 3 and a half percent now
the 10 year yields at 4.160
30 years at 4.8
and we don't want to get to the point
where the market's angry
so I think right now he's in a decent
spot, but now he's going to be gone.
And it looks like Kevin Hassett, one of Trump's buddies, is going to be the head of the Fed.
And as you know, Trump has been called for 1%.
I'm letting you know if he ever did go to 1%.
And the market didn't like it.
We'll be back at 10% inflation again.
No, really.
So that's what happened today.
I don't watch him in his press conference because, frankly, and nothing personal.
he should not have the job.
He doesn't know what he's doing.
I'm going to stop right there.
I'm going to try and stay positive.
Anyway, the Dow was up a percent.
The S&P 0.65%.
The NASDAQ was only up about 3.35%
but transports were strong.
The housing stocks were strong.
Why would housing stocks be strong?
Well, if he can take interest,
down, duh, it's interest rate sensitive. What else was strong to regional banks? Whoa,
and other banks, financials, was strong today. Of course they are. What else was strong?
Well, the economically sensitive names woke up. What's an economically sensitive? A united
rentals, which has been blasted on their earnings. They bounced that up 3%.
W.W. Granger bounced that up 3% in change.
Economically sensitive.
What else did they? A Caterpillar was up 20 bucks today.
They bounced a little bit of the hotels which just got hit.
They bounced the cruise lines which have been very weak.
Why would that be?
Well, if you can spur things on, even the perception moves markets.
So that's the story today.
Hope I explained it okay.
The Fed funds, really not much.
The 10-year yield is your mortgages.
The Fed funds, we can go back to maybe it moves the credit card rates around.
I'll tell you what it will do.
Your money markets, you're going to get less.
Duh.
Just remember, you were getting zero on your money markets when he took rates to zero.
He screwed every saver.
J. Powell screwed the savers and handed all that money to,
the banks and lenders and he never got any blowback from that one of the most sickening moves
financially i've ever seen he got no blowback on it because they had to just blame Biden for
everything and there's your story so here's the deal good day in the financials good day in
the economically sensitive good day in the nice bounce in the housing good day in the
transports, moving of things, because the perception is this should help the economy.
Good day in the auto dealers, stocks that have been very weak.
You know, it didn't have a good day still?
The job market.
The payroll companies, paychecks was up 14 cents.
That's to be watched.
Got a good day in some retail, not all.
You had a good reaction recently in Abercrombian Fitch, so that was up 6% today.
Dillard's is up.
Today doesn't trade a lot but up nicely.
And by the way, even Cracker Bauer was up 95 cents after being down $3 in the aftermarket
yesterday last night on crappy numbers.
That's just the market being a little bit better on the day.
At the close today, at the close, the Russell 2000 edged out of range.
At the close today, the midcaps.
Edged out of range, not at the highs though yet.
Still got work to do.
At the close today, the regional banks, almost a yearly high.
Individually, some regional banks at yearly highs.
At the close today, the KBW Bank Index, NASDAQ Bank Index, new high.
Not sure of other things.
The S&P did not finish it a new high today.
The Dow did not finish at a new high today.
The NASDAQ 100 and the NASDAQ did not finish at new highs today.
And weakened a little bit at the close, but not a biggie.
We'll see what Tamar brings.
Up next, why all these rate cuts around the world?
We'll explain.
This is the one only investors' edge.
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We'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. With Gary Coltbaum.
It comes highly recommended.
You're going to feel better if you talk to him.
Do you know?
Oh, by the way, the dollar against currencies swooned today.
When you go easier with your money, your currency usually suffers,
which of course helped gold again today, silver again today, helps our multinationals.
You can go search the phrase, why does a weak dollar help our multinationals?
That'll explain that.
Or why does gold or commodities go?
up on a weaker dollar you can it'll explain it but I want to feel a little bit of your
long-term pain what in case you don't know there's been over 300 rate cuts by
central banks around the globe in the last couple of years 300 unprecedented
Would you like to know why?
Those same governments who hate their people,
just like our government hates us.
What?
Well, do you think a government that is now with 38 trillion of debt
likes you?
No.
They just use you.
Around the globe now,
we're at now $324 trillion of debt.
That is not a typo, ladies and gentlemen.
That is a real number.
And their thought process, crap,
we've got to get rates down because
the amount of money we're paying on this debt,
the amount of interest.
Oh my God, we're going to kill ourselves.
Now, here in the U.S., it is,
is a financial crime and a financial sin brought to you by every politician going back about 25 years.
They really amped it up in 2000.
It was slowly moving up before that, but they really amped it up.
And it just gets worse and worse and worse.
And unfortunately, the Republicans used to protect us and actually used to fight for it.
the debt ceiling and stop it and stop the Dems.
But they don't give a crap anymore,
including President Trump,
who has lied about the debt and deficits,
who is arse on a daily basis.
And if you notice, it's never brought up.
And the reason it's never brought up
because the media can't bring it up,
because if they bring it up on Trump,
they've got to bring it up on the Democrats
who they preciously defend.
So we're at 30.
trillion. 1.2 trillion this year is going towards interest. Imagine in the year 2000 our federal
spending was only 1.8 trillion. We're headed to the point where that number is going to be just
interest brought to you by all these people who by the way, when it all, and all debt blows up,
by the way, it's just an eventuality, but sometimes it takes decades. These people know they're going to be
retired or dead. So what do they give a crap? Trump, what does he care? He's a multi-billionaire.
Him and his sons are doing all kinds of stuff right now, making all kinds of money, left and right.
What does he care that he said he would do something about it and lied and did nothing about it?
and had a great chance to backtrack Biden's
the Inflation Reduction Act,
which he admitted didn't cut inflation.
It could have knocked a trillion dollars off of it, but he didn't.
And why wouldn't the president do that?
Because if you take a trillion bucks out of government spending,
you take a few little points off of GDP,
and that's bad for real election.
But screw us in the long term.
So $324 trillion of debt, that's why.
And in case you don't know how bad it's got, is do you know in the last week our debt went up $89 billion in the last week?
We're at $38.5 trillion now.
When the President Trump took the oath on January 20th, our debt was $36.2 trillion,
It's 11 months later.
We're 384, 2.2 trillion, but he's telling you how good he's done.
Just let you know.
We'll keep you informed.
We'll keep you informed.
But that's why there is a rush to get interest rates down as much as possible.
That's all.
That's it.
And as we have said for years, we don't know if it's decades, years, weeks, or months.
the trajectory is insane.
It gets worse by the day, and they don't care.
And the media won't cover it because both parties have done it.
They don't want to upset their side.
But it's not also that.
I just want to let you know.
U.S. big tech stocks had bond issuance of $108 billion so far in 2025.
That's just some companies.
This is five times more than in 2020.
So there's a big amount of debt is going on in some of these companies.
Just letting you know.
By the way, October, we're in December now.
We had a record $284 billion deficit.
You want to extrapolate that out?
$3 trillion.
So when we say they hate you, we mean it.
And when we see Trump talk last night for 90 minutes, oh, I love you, I love you this, I love you that.
He's laughing his ass off.
Every day, $6 billion is being added to our debt.
And it makes them happy as all hell because it helps GDP and gives them a better chance of keeping power.
They hate us.
And the same goes for all these governments of other countries.
That's all.
And if you notice, how many people are talking about this?
You don't see anybody on TV talking about this?
You don't see somebody bring up that $1.2 trillion is going down the toilet,
not going to the roads and bridges and the streets and the airports.
How about the indigent and the children in need?
Or how about the elderly?
It's gone towards interest on all the debt these mothers have created.
and so much of it was corruption.
Think Minnesota right now, what we're finding out.
It's the tip of the iceberg.
Do you know how many connected people in D.C.,
not just politicians, are just worth zillions of dollars
and didn't do a thing?
They were just connected.
Look at this woman, what's her face?
Stacey Abrams.
Got two billion government grant
for climate business
and she's never been in the business
and never has to pay it back
it's not a loan it's a grant
so just letting you know
it's become obscene
that's why I can't stand any of them
nothing personal
I love Trump what he did on the border
I love his golf courses
but don't look me in the face
and tell us
and tell me you like us
you're going to run
$2 trillion deficit this year
and you're not supposed to
and you had a chance to do
something about it
that's all
and I know a lot of you love him
and I know a lot of you love Biden
and a lot of you are on the left
and a lot of you on the right
just letting you know
none of them like you
and if you notice they only start coming at you
six months before an election
hey give me money
you got the yuts in New York City
he's a communist
He's a freaking communist, and he's begging for dollars from people.
Remember, he's a communist with our money.
He's a plundering capitalist with his.
That's how this whole thing goes.
But we'll keep on trucking.
And we'll let you know what's leading.
We'll let you know what's lagging.
Where to be, we're not to be.
And as always, we always say, if things change,
we will absolutely positively let you know.
Today, very good day.
Not the greatest finish,
but if all the indices
and all these areas go topside
and break out of range,
should invite more
money into the market.
Up next,
this that and the other thing.
I'm really a positive guy, by the way.
This is the one only investor's edge.
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Tommy John, comfort perfected.
This message is brought to you
by the Capital One Venture X card.
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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.
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What are we waiting for? Well, what are you waiting for? One, two, ready, go.
Action! In The Bester's Edge. With Gary Kulpaw.
You know, Oracle has been a real disappointing stock,
and we've had questions how they announce monstrous backlog,
and the stock goes from like 350 to 200.
Well, they just reported earnings, and they beat,
and the stock's still down, no, hold on, 16 bucks on $220.
I'll have to check it out.
The worry is the debt.
And the worry is, you know what that backlog is from?
That open AI company.
You know which company that was where the CEO was interviewed by an investor
and was simply asked, how are you going to be able to do $1.2 trillion in business
when you only have $10 billion?
And the guy said, well, just sell me your stock.
We'll see how that plays out.
By the way, here's a blanket statement.
They better keep the AI trade going.
How's that for a blanket statement?
It's so much of the market now.
I cannot begin to tell you.
It is so much of the market now.
You ready for the latest?
Do you know what Warby Parker is?
It's an eyeglass place.
And they sell eyeglasses.
The stock was crushed recently on their earnings report and outlook.
A day and a half ago, they announced.
AI glasses. It's up 45% in two days. And I'm just thinking to myself, so what? Artificial
intelligence glasses should add a billion dollars a market cap to the company? That by the way,
does less than a billion dollars in revenue. That had me scratching my head. What could you do with your
glasses and artificial intelligence.
Somebody's got to help me out with that.
Seriously,
are we going to get the artificial intelligence
Whopper?
Or McMuffin?
By the way, I'm not being sarcastic.
I guess maybe I'm the dumb one
because the market loves this news.
Just letting you know,
the market really loves this news.
We'll see how it plays
out. What else stood out? Rumors of AIG being bought by Chubb. Okay. Fine and dandy. I got asked what's
a matter with Microsoft. It's a weak stock. I got asked what's a matter with meta. It's a weak
stock. Both faded at the 50-day moving average. I got to mention DoorDash and Instacart got hit today.
By the way, DoorDash had that big insider buy recently. Both were hit today. Amazon has a
announced that they are going to expand selling perishables to 2,200 cities.
So guess what happened to DoorDash and Instacart today?
Got hit.
Other things just noticing, hospitals topped out.
No biggie.
AutoZone down another $75 today.
Yikes.
In Mega Capland, Costco continues to be really.
weak. Netflix, brutally weak.
NVIDIA cannot get a...
Think about this this week.
You had a strong market today,
and Vindia finished down $3,
and this is after a day and a half ago
was announced the China thing
that's going to be able to sell this thing to China
and it's going to add billions,
and the stock can't get out of its own way.
And you know what I'm wondering?
Not sure yet,
but I'm wondering, A, the huge market cap,
But B, in this great system of ours, if you have a big part of the business and others say, you know, I think I can do it faster, quicker, better, and cheaper, and then some come out with that, I'm wondering if they're starting to put a little discount into the stock because Alibaba announced the chip, Google's got some things.
a bunch of others have things going on right now for a very lucrative business.
So,
Nvidia remains below the 50-day moving average.
We'll keep you informed.
First thing it's got to do is get back above.
I also got to mention this.
Beasley Broadcasting, it's a radio station,
a couple of hundred million in revenues in a bunch of markets.
the stock never trades.
In fact, an average day of trade was a couple of thousand shares.
Before today, it closed at $4.
It hit $26 today.
Before closing at 16, it's now 12 in the aftermarket.
It went from 4 to 26 today.
You ready for this?
The float is 700,000 shares.
It traded 44.8 million shares.
today. I'm wondering if this got game stopped today. Whether somebody said something and read it and they
jumped on it, ladies and gentlemen, you know what my advice is right. Make sure you're never the
last one in. They all go back to where they came from. I don't know what drove the stock today.
I see no news. And I looked on several news fronts.
I'm sure we'll find out it hit the sheets or the webs and they got involved and ended up being some sort of again game stop AMC and things like that.
I'm just letting you know today at 235 it hit 26 bucks.
At 4 o'clock it was 16 and change and now it's 12 in the aftermarket.
You know how you get to $26?
Somebody had to pay that.
Don't ever get caught in that stuff.
Keep your head about you.
It's painful if you're the last one in.
You'll have a great evening drive carefully.
Just remember, we're working for you here, nobody else.
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 they will be well.
Don't be a mark.
Good night all.
Bye-bye.
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 GaryK.com.
That's GaryK.com.
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