Investor's Edge with Gary Kaltbaum - MORE VERTIGO

Episode Date: February 8, 2023

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. 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 Coltbaum, your host day.

Thanks for being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's February 8, 2023. And we are going to start off with my mantra, my motto. my singly focused thought process, and that is, I have never been more optimistic on most of us. I have never been more pessimistic on all of them.

In one fell swoop, you had the President of the United States and a State of the Union address last night, lie out his arse. That's for starting. lie one after the other sent his minions out today lying for his lies on any number of things now we had a deal with that with the last guy and we actually got numb to it with the last guy this guy I really do believe as bad as the last guy has taken the championship

belt away from the last guy. It's that bad. Of course, the In the Tank media was kissing his lying arse last night. Oh, he was strong. He fought back. He came with facts. He came with the... So they lied for the liar.

And this all comes down to. two simple numbers. The last year before COVID, our federal spending was $4.4 trillion. This coming year is going to be $6 trillion, and that whole difference is debt. While this man stood up there and said and told us what a wonderful freaking job he's done with debt and deficits and how he's lowered him big time, a lie. they stopped COVID spending. It was a big one-time spending, an emergency spending, like if you go to war. He will now run a record deficit this year, a record, and he's standing up and lying.

He also came out with that other lie. He's cut child poverty in half. that's a lie he's telling you because of a tax credit given to people in poverty it brought him above the poverty line that's a lie no child gets out of poverty because of a check they get out of poverty because of education and mentorship and hard work and family structure and on and on. And it never stopped. By the way, I didn't watch, but I got the transcript this morning. I didn't want to watch.

He nauseates me, but it's not just him. It's all of them. Do you see the classless pieces of crap on the Republican side? You know who I'm talking about. And you got George Santos in there? Holy crap, this fraud. I will give huge credit to Mitt Romney who walked up to him and basically stuck it right in his face. You're an embarrassment and you shouldn't be here.

Well done, Mitt Romney. They gave a standing ovation to Nancy Pelosi, who when she started in Washington, D.C., we had $5 trillion in debt. We're now 31.5 trillion, but yet, let's give her a standing ovation. And then there's the wimp, the sore loser, the Eddie Haskell of politics, Trump. You know what he did? You know what his big move was yesterday? To intimate that Ron DeSantis is a pedophile.

That's what he did. Think about that. The nerve. Somebody wants to run for president so you intimate he's a pedophile. Another sick, twisted, sore losing wimp who ran our country for four years into the ground. Wait a minute. Trump? His GDP was good.

His employment was good. Look what he did. Look what he did. Seven trillion of debt later. he did some good things sure I wouldn't invite him to my house calls Elaine Chow Chow Chow

he's a racist that's racism run amok and this who may be running against each other Trump may win the primary again against Biden it sickens me it sickens me

two lying debt-laden lying I say that twice piece of crap and that's how you get the $32 trillion will be there soon of debt

Trump told us before he came in oh I'm the greatest negotiator I'll lower that debt I can knock it all out in a second and immediately came in and raise freaking spending up the wazoo and I repeat you know I've been right on everything

right you know i've nailed everything about the fed about the bubbles about the bubbles about the bubbles popping about inflation we're getting closer we are heading this year i i i can't i wish i had a bullhorn this coming year we're going to go towards a trillion of our tax dollars to interest our whole federal spending in the year 2000 was 1.8 trillion There is no way, shape, or form we can continue this trajectory. It's going to bust wide open. And you know what's going to happen when it does. They're going to blame each other.

And the left's going to blame the right. Right's going to blame the left. And we're going to be the freaking victims. They're playing us, all of them. They're playing us. Earmarks are back. They're playing us. Joe Biden in his spending bill is $380 billion.

given to John Podesta, go look this moron up. A Democratic hack, he's going to dole out $380 billion on climate. I told you yesterday, you know what's going on in Delaware right now? A bunch of friends and relatives and compatriots of the Democratic Party are starting up green companies to get all kinds of hands out that's going to do nothing for nobody. The nerve of these people to tell us, they're going to fix the weather. It's all a money grab. and those of you believe in them, you're a mark. They have the nerve to send out John Kerry flying in big private jets to his yachts to tell us, well, he needs to do private jets because he's working for us.

The nerve of these people, the nerve. We can laugh about the DiCaprio's of the world because they don't affect our lives. but these people making decision in D.C. with our tax dollars, they affect everything. So that State Union addressed sucked. The reaction to it sucked. Trump's reaction sucked. And we're going to get nothing out of it. And Trump's reaction, Desantis is a pedophile.

Let's go vote for him. Trump, who lost every election under the sun. Oh, but I didn't. Up next, we'll finish it off and then we'll do the market. I'm Gary. This is the one to only Investors' Ed's. Hi, I'm Gary Colbaum, 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,

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The number to call is 888-4-22-5-59. That's 8-8-5-59. That's 888-4-2-2-5-9. $5.59, investment advisory services offered through Colbomb Capital Management. This message is brought to you by the Capital One VentureX 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

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, 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. 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. It's time to switch on the integrator units and get the brain cells working. listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. I want you to think about this. One guy stands up in front of the world and lies for an hour and 20 minutes, and the last president is intimating the guy who wants to run against them or looks like he's going to run against

them is a pedophile. I want you to think about this. This is not watching The Bachelor or the Housewives. These are the people that would make decisions on the future of this country. And I don't think there's enough rubber rooms or straight jackets for these people. And then Gene Spurling, one of the economic advisors to Biden, who I think used to be Clinton's economic advisor, the president brought back jobs. Oh, yeah? When? President doesn't bring back jobs. People do.

When asked about the BS about cutting the deficit and the creation of 11 million jobs when we know that about 10 of it was jobs just coming back from COVID. You know how he answered the question? He agreed with the interview and then proceeded to lie. They don't care. They're just marketing machines, these people. I saw a Democratic pundit. I'm not mentioning names.

Had the nerve and the grapefruits to say tax cuts are spending. These Dems think we work for them. Tax cuts are spending? Tax cuts are government. They're lucky they have us, given our tax. tax dollars to them. It's our money giving to them. Government doesn't give a squat. Tax cuts are spending and God bless the interviewer when this person said it didn't catch on. God, this man was so lucky I wasn't there. My next line would have been what kind of strong weedy you smoking?

tax cuts are spending or earned dollars no are really theirs to dole out to us this is what's going on out there and by the way don't believe for a second the republicans

all the sudden care about spending and debt and deficits they didn't give a crap under Trump didn't say a word Trump opened the spigot like there's no tomorrow and they didn't say a worried they're saying it now because they ain't in power they know they can't get anything done they

don't have the white house they don't have the senate but let's make like we're big shots knowing nothing's going to get done jean spurling said deficits came down because of their policy a lie they came down because the covid spending ended that's all it's going to be a record A record deficit this year brought to you by Joe Biden. This guy for an hour and 20 minutes just lied. One after the other lied to the American public. And as usual, the hacks on the left said he was brilliant. Because they don't care.

They get paid a couple of million bucks to lie for them. hey look at me i repeat i've never been more pessimistic on them i've never been more optimistic on most of us notice i added the most of we'll keep watching we'll keep whining and complaining for all of you whatever side of the aisle you're on but all of you in either side better start realizing they're all one side there's differences but when it comes to the size of government, which comes out of our hide, it's laughable. And that's my take on the facts. Anybody want to dispute that with $31.5 trillion debt now, that's money spent more than they were supposed to. Anybody wanted dispute we're heading towards a trillion dollars, a trillion dollars paid towards interest on that debt.

not for the elderly not for children at risk not for the infirmed not for the grid not for infrastructure not for the streets and the roads and the bridges not for the airports

interest that's what they've done enabled by the schmendricks at the central banks and the economists that continue to lie to us. If we don't raise more debt, we're screwed.

When it's really the other way around. You do know that, right? Things don't go better by getting another credit card to pay for your last credit card. Okay. But how's your day? LeBron James. I still believe Michael Jordan is the greatest player of all time. I'm putting LeBron James up to number two.

now and that's a a good move on my part but more importantly he's a better man than a basketball player he's come up with schools for kids all kinds of philanthropic there is nothing more better than somebody doing something for people he needs absolutely nothing from and because of his influence does it in a very big way my i i nothing but applause for this man yeah i know the china thing and stuff like that listen he plays in the NBA NBA has deals with china i hear you if i would be speaking out more too that is a flaw i hear you on that but overall congratulations to him you know what i did last night instead of watch state of union i watched the nicks beat the magic and uh then i watch

LeBron. Right up next, full market wrap was not a good day. I'm Gary. This is the one to only invested dead. 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 to change. See Capital One.com for details. This episode is brought to you by Sprecker. 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 Spreker 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. 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. 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. 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. 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. All right. Good day yesterday.

Bad day today. Markets play out over time. Sometimes it's over a big period of time, medium period of time, and sometimes in a few days. potentially the last one two three four five days is an area of the mallet is coming out and hitting the market over the head which means probably going to do a little bit of work what do we mean by a little bit of work pullback doesn't have to be the end of the world markets do pull back if the pullback if the pullback is controlled, we're going to have major buying opportunity for more legs to the upside. If we start to see a lot of cracks, that'll be another story. Did I see some cracks today?

Maybe, maybe, not 100%. Got to do some scanning later. We'll see. So today's market wrap is brought you by Investment-Models.com. That's Jim Rohrabak, one of the great market timers. areas with the man you're either in or out of the market with his proprietary indicators go check it out investment dash models.com uh down 207 um there's a decent amount of stocks in the dow that have very bad chart patterns right now i take that back bad to very bad you got that s and p down 46 to 4117 NASDAQ 203, NASDAQ 103, NASDAQs down 68, transports 95, but guess what happened again today? And we've had more than one. Advanced declines on the New York, 1299 up, 2699 down.

On the NASDAQ, 1227 up 3,095 down. we don't want to see bad advance declines day decline days we had another one so we're kind of sort of on pullback watch and we'll have our measuring tape out by the minute throughout the day after the close before the open and basically that measuring stick is okay We're pulling back. We're settling down. Are there a lot of stocks croaking? Why do we ask that? Because the more stocks that are croaking and you're going to have to assume that we know what a croaking stock looks like means the market's getting tougher, more headwinds. So after a few days of pretty interesting back and forth, something to watch. We have no clue what happens tomorrow. but something to watch because again the last five days may be shaping up to be an area of hey you're done for now you're done for now and then we'll if that is the case how do they pull it back today was one of them days and i will state for the record there was some ick i doubt that's a word but you know what it means there was some ick in the market today in fact i think i should look i'm going to put up the word i ck well icky

yeah it's a word used to express disgust there you go there was some ick today i don't know if the words discussed but we'll see i saw some ick in i don't want to see texas instruments down seven bucks to me that's it just for starters i don't want to see n phase up 15 16 bucks on earnings and finish down nine even though it's been in its own private little bear market but you still don't want to see that and most importantly as i stated you just don't want to see these at three to one negative advanced decline day especially adding up i think this is the second one in this five-day period So we got some scanning to do tonight and we'll see what comes of it. There was some strong names today on earnings,

VOIA insurance, Chicago Mercantile Exchange. New York Times was strong today because I read it every day. Yeah, it's because of me. Something called symbol KD, Kindred Holdings, real strong move. This is all on earnings. and then there was some things pretty much down on earnings not good day so stay tuned we're in a little bit of a moment my guess listen again they have some work to do here wouldn't have said that yesterday

the hope was yesterday was going to lift for another leg up looks like the last five days may be tracing out a moment and we'll see what that means in the days ahead not necessarily baked in the cake but yeah areas will continue we we still don't like the oils waste management managed care even though they bounced today the fence don't like that auto parts retail and i have to add something today this is new did not like the way a lot of retail stocks acted today don't want to go any further than that but nascent rallies in the lot of retail may have hit the little bit of a wall today and i don't know if you ever heard of capri capri holdings uk-based company markets women's and men's accessory uh down 24 percent today just cracked

and not good news and they sell a lot of big brands and I guess they're in the UK I don't think they're here by the way they sell Jimmy Chu shoes I hear that to die for but as I go down the list

yeah Costco down 13 Lulu Lemon down 10 PVH Corp down 10% it's a peril UAA under armor reports

rolls over on volume so just a few little tidbits of note here that we may be at a little bit of a moment we'll see what tomorrow brings and that's our take interest rates were flattished today yields on the 10-yard-down-a-wee

bit oil prices were up today but oil stocks can really budge as they are not in a bull market right now except for a couple names BP is in a bull market strong earnings broke it out yesterday was up a little bit again today but as I look down the board of all my oil stocks yuck and we've had somewhat of that stance for a little bit of time now do not forget we think earnings stink we're amazed that Seagate reports a 90% drop in earnings, the stock goes up. Netflix, 90% drop in earnings, stock goes up. What does that mean down the road?

Earnings better recover. If they don't, then valuations are in the trees, and you know what happens to valuations in the trees when the market realizes earnings aren't recovering. The stocks get twanked. We'll keep note of that. And we'll be in our file managers. We move forward.

We have a very big file manager, ladies and gentlemen. A very big file manager. We got a lot to put in the files, unfortunately. Up next, this, that, and the other thing, and whatever else. This is the one only investors edge. 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. 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 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's 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. Start your show today at Spreker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. 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. You're listening to. What are we waiting for?

Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge. With Gary Culpa. Uh, in the news. By the way, when my sons were young,

we went rock climbing in one of those rock climbing places. You know, they're indoor stuff. And I did a little bit, but man, it's not easy. I was watching, I don't know if any of you were real rock climbers. How the hell do they do that? Climbing ladders are tough enough. I'm watching somebody literally almost like a flat face of the side of a mountain, climb up it.

Somebody has got to explain to me how they do that. in the news. Well, we told you so. So let me read the title. California's Marijuana Paradise Lost. Remember, we told you years ago this would happen. So marijuana advocates told us that legalizing the drug would curb the black market in California. Well, we're still waiting.

The opposite has happened where a glut of illegal weed is undercutting the legal purveyors. California voters in 2016 approved the ballot allowing the cultivation sale and possession of pot for recreational use marijuana is classified as a Schedule 1 drug under the Federal Controlled Subblb-B-B-B-B-B-B-B-A-B-A-A-T act. Whatever. But Big Pot is persuaded state lawmakers and voters in 21 states that drug is no greater danger to public health and alcohol up yours. It's all about the money.

And legalizing it for recreational. use within their borders will boost jobs and tax revenue. Yeah, go start walking in New York City. You'll get stone just walking. High taxes and regulation have made it harder for state licensed businesses to make money. Significantly higher prices in the state regulated market had led to a boom in the black market controlled by the drug cartels, which has led to violence and water theft. At the same time, California struggled to enforce its pot laws.

One reason is that the 2016 measure reduced penalties for most pot offenses. So what the hell do you think is going to happen? And at that point, illegal pot plantations have mushrooms. We told you so. Just had to report that to you. Don't you love how things work out? Google set to roll out AI and artificial intelligence search features. Google's stock was up yesterday.

nicely because they were going to have an event to roll out there artificial intelligent search features. Well, there's an old line about being a lawyer. Never ask a witness a question that you don't know the answer to. You know how when they gave O.J. the glove to put on? they had no idea that he would put it on a way where if it doesn't fit you must have quit Google put on this AI event and asked questions of this thing and some of the questions got wrong

Google stock went down 7% today and basically cracked itself technically remember they didn't have very good earnings what a colossal colossal blunder next just so you know this weekend what Microsoft is doing

by the way Microsoft was up another eight today and finished flat because about flat because the market got hit but they are attaching their artificial intelligence to their Bing which is their search that I've never used but guess what I'm going to do this weekend

if I have the ability I'm going to check it out see what it's about and I read what it's supposed to do and there's still definitive flaws but you know how these search engines get better and better over time so we'll see just let you know Microsoft it has got somewhat of the lead on all this at this point in time so that's the story with the Bing search engine that by the way whenever I get a new laptop Microsoft is on it and they keep being towards you but what the heck do I haven't I never use it and that's pretty much what I got for you a disappointing day yesterday as I continue to be the most pessimistic I've ever been

and you know what I'm really disappointed in you know life is a learning lesson you realize that right life is a learning lesson Donald Trump lost the election because people got tired of of them. It was fatigue. They were tired, and you know what I mean tired of him. He continued insults, the racism, chow, chow, that's racism. I can go on and on and on and on. It wiped out anything good he did. You would think somebody would sit him down or maybe he'd be a little bit introspective and say maybe I you know we lost Georgia publicans lost Georgia because of him and claiming

he won the election by the way Trump does not believe he won the election that's a snow job everybody knows intimately that Trump knows he lost the election but has to now come keep saying that he won it because he'd look bad if he finally admitted it so you would think he would learn he's worse than ever because somebody wants to run against you,

you put up a tweet that intimates he's a pedophile, and you expect me, Gary Kalbom, to even think about voting for you? I have a lot of independent friends that vote for him the first go-round that stayed away the second. I ain't going back to him. To a person, every one of them,

and I have a decent sphere of influence. I get a lot of emails. They all say the same thing. I hope he doesn't run. He hasn't learned, unfortunately. He's still got a year and a half to figure it out. I doubt he's listening to me. He probably should.

Hopefully tomorrow is better in the market. We'll see. I'll be on with Stuart Varney 9 a.m. in the morning tomorrow, Fox Business, check it out. Until then, you have a great evening drive carefully. And when you get home, do like we do. It's quite simple. make sure you hug your family, hug your children.

They will feel better. You will feel better. And of course, same time tomorrow, this great show, the most important show out there that hardly anybody knows about. Have a great evening, everybody. Take care. Bye-bye.

This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com.