Investor's Edge with Gary Kaltbaum - Mr. Bubble
Episode Date: June 14, 2023Follow Gary on GaryK.com or http://garykaltbaum.com...
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Investors' Edge with Gary Cult-Bolmobes.
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 Kalbaum, your host day.
Thanks for being with us today.
Glad you here, ladies and gentlemen, happy that you are listening.
It's the 14th, June, 2023.
Hope you are having a great day.
As always, lots to discuss, lots to talk about, lots to go over.
this is a serious talk about you and everything that affects you your markets the economy your jobs
unemployment debt deficits the maniacs in Washington DC and you know what I shouldn't use the
word maniacs that would be putting down the maniacs and everything else in between thanks for joining
again didn't know where I was going to start today I don't want to bore myself if you have
noticed, I have not talked about the central bank in quite the while. As you know, we think they
suck. We think they have no clue. Let me take that back. They have proven they suck. They have
proven they have no clue. They have proven they have played God with our lives. Stole billions of
out of the wallets of ordinary Americans by taking rates down to zero.
I can go on and on.
I was just thinking today.
And by the way, and you know we've done shows where we have basically stated that this guy,
Jay Powell, before him, Janet Yellen, before him, Ben Bernanke,
is like going to the doctor to get a cast on your left arm and he puts a cast on your right arm.
they don't know what they're doing and they're the most powerful people on earth.
It shouldn't get past anybody that one man without anybody saying to him,
what are you doing?
Why are you doing it?
How much?
What?
Huh?
Took rates down to zero percent.
Screwing every saver.
Letting, letting the.
banks and the lenders keep that money.
And then,
out of thin air,
let me repeat that,
out of thin air,
printing up to
$9 trillion in total
to interfere
with the markets,
to interfere
with free markets,
the ability of investors
traders and speculators to do what they want to do in the free markets.
He printed $9 trillion.
By the way, $9 trillion, not of his own money, just printed money.
No risk to him.
On that money he printed, they lost a trillion dollars and still are down that much.
But since it's fake money, it does not matter.
But what I just want to bring up, and I don't want to really harp on it.
Let me tell you what nauseates the living hell out of me.
First off, they kept rates where they are.
They basically telegraphed, you know, we're probably going to raise rates a couple of times more.
And then I started listening to the miseries.
These sycophants that doubly have no clue, they're sitting there yapping away about
how he's going to engineer this and engineer that
and how he's going to lower inflation
or maybe he's going to raise inflation,
how he's going to cause job market to go south
or he's going to cause job market to go north
and I'm just thinking to myself
who is running this country?
Who is the economy?
There's 166 million of us
that get up every morning,
working our tail off to do better for ourselves and our families.
And we're being told that one man is the one who's engineering things.
That's how sick it is.
And you know what we have told you.
We don't care.
I take that back.
We care what happens now.
But we know what's going to happen in the long run.
The debt is going to explode.
And the people that caused it will be dead or retired.
after doing quarter million dollars speeches to Wall Street
and probably retired in a big compound in the Hamptons
or who knows where.
And then both parties are going to blame each other.
And as we've told you, we don't know when it's going to happen.
We don't know what number is going to happen because what have they been doing?
Guess what they just did with the debt ceiling.
What they did was they took out another credit card
with a higher credit limit than the last credit card
to pay for the last credit card.
That's all they did.
And what you all need to know,
when this grand experiment of taking over the markets
and being allowed to take over the market
started with this imp who got a Nobel Prize of Economics,
Ben Bernanke started printing money.
At that moment in time,
our miseries, these Morlocks in D.C. at the time,
had only,
had only spent $10 trillion more than they were supposed to.
In our whole history of the United States,
they ran up $10 trillion of debt that they weren't supposed to.
In 15 years since, it's another $24 trillion.
And by no coincidence, by no coincidence,
did it start when they just flushed,
the world with easy money and the ability to go credit after credit after credit because of easy
money and all I kept hearing today what he's going to do for the economy one man what about
the 166 million of us do you know what I did today I had a Starbucks breakfast sandwich
spinach and feda wrap it's really good they've raised prices because of inflation
I contributed to the economy.
In the middle of the day, we had a board meeting for the Boys and Girls Clubs of Central Florida.
I went to a gas station, filled up my car.
I contributed to that service station, the economy.
What I did today is I watched one of my stocks go up 20 bucks.
I contributed to the wealth of my clients.
That's the economy.
not this buzzard
and I can't begin to tell you how depressing it is
that this man who caused the bubbles
caused the inflation
screwed savers
bubbles crashed
is now we're being told
he's saving the economy
when 166 million of us
wake up every day
we're the freaking
economy
he's nothing except an interloper and an interferer and enabler of massive debt,
massive deficits, massive distortions, and it ills me that he gets credit.
These buzzards on Wall Street are giving them credit.
They're giving them credit.
That's my whining and complaining for the day.
I'm not going to whine and complain about my back.
I had a good day today.
I lied.
I forgot one other thing.
I knew I forgot one other thing.
The politicians.
You know what we think of them.
But sometimes I come across something that lets me explain to you in a way that you understand what's going on.
Personally, I've never met Barack Obama.
and frankly from what I see on the outside looking in
looks like a great husband, great father,
personally, never met him.
On the outside looking in, don't know him.
He campaigned extensively, extensively,
on the presidency when he was president
to eliminate something called the carried interest loophole.
It's a tax strategy basically for very wealthy people
to evade ordinary income taxes.
Up next, wait.
And then the markets.
I'm Gary. This is the one only Investors Edge.
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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. It doesn't get better than this.
So.
So.
What hedge funds and other private fund managers do, they use the tax treatment to pay long-term capital gains at 20%.
It's a rate that's half of what working Americans pay.
Well, when Obama's office railed against this loophole, guess what he's doing with all his businesses?
The carried interest tax loophole.
Now, guess what?
He should.
Whatever the law is.
whatever the law.
But this is what we mean by
socialists with our money in our lives,
capitalists with their money in their lives.
This is what we're talking about.
Just letting you know.
If it's the law,
terrific. Use it.
But the hypocrisy
is just so freaking nauseating.
I can't begin to tell you.
No additional news
on Trump today.
except he campaigned
and basically he did a campaign yesterday
and he sent out mailings
send me money look what they're doing to me
he raised $2 million.
Boy is he good.
Boy is he good.
His best buddies that are all over
defending them,
they just don't get it.
They're stupid too.
This is no longer civil.
This is criminal.
And they're the department bunch.
These people
are a joke
if it was a Democrat
there would be no investigation
they have Hunter Biden
and pretty much the big guy
dead to rights
but there's no investigation
the media is not reporting it
and Trump doesn't understand
they're out to get him
and he let him
and this is big time now
yet people are out there
defending them based on
oh they didn't do it to Hillary
that is not going to be a defense
As I said yesterday, this could be a hell of 14 months going forward.
You know where I stand on him.
I am no fan.
I would not hire him professionally.
We'll see how it plays out.
Nothing personal.
Love is Scotland golf course.
And I played Turnberry in Scotland before he bought it, which is another great golf course.
Two great golf courses there.
But it doesn't matter.
Democrat or Republican in the White House, we're going to 50 trillion of debt.
trillions of dollars towards interest.
And for all of you out there who think
that your Social Security is not going to be touched,
oh, it's going to be touched.
Just letting you know.
I expect a couple of things.
First off, the taxes are going to continue to go higher on the number,
and I believe the age is going to be changed.
Why?
Because they stole all the money.
there was supposed to be all of your money in the lockbox.
Remember, they took money out of your paycheck.
Remember that, right?
They took money out of your paycheck.
And they told us, don't worry, it's going on a lockbox.
And when you get a certain age, you're going to get your money out.
No, there is no money.
It's an IOU at this point.
Why do you think we're running big deficits?
And they tell us it's the entitlements.
Wait a minute, hold on.
I thought you put the money in a lockbox.
No, we lied.
And as usual, the media doesn't call them on it.
Imagine if the media did their job and went back 20 years and took every politician who said there was a lockbox and stood them up against the wall, no, not shooting them, and made an answer for it.
Why would they do that?
They won't because they want access.
So just let you know there is 100%.
I don't think they can get away with means testing.
And what that means is them coming in and say, they're going to try.
They will come in and say, oh, you're a multi-millionaire, you don't need the money.
Well, then it turns out it's just a tax you paid, not a retirement account.
Social Security is supposed to be a retirement for you.
Then it's a big gigantic lie, and I can pretty sure that would go to the Supreme Court.
The Supreme Court would say up yours, it's their money.
So I'm just letting you know, I believe it's 100% certainty.
I don't know when.
but notice politically
anytime anybody ever mentions it
no oh look what they're trying to do with you
how can you vote for them
you elderly people they're trying to steal your money
I got news for you there isn't any money
you're getting paid with the workers of today
not your money they stole it all
they spent it on this that and the other thing
feel my anger
that said
we segue
By the way, I forgot to mention yesterday, congratulations to the Denver Nuggets.
I am such a huge fan of this Yokic guy.
What a sport.
I love sportsmen.
I love great sportsmen.
People that, when they win, they recognize they are losers.
What a man.
A man's man.
I love that guy.
Anyway, congratulations to the Denver Nuggets.
I lived in Denver for two years and went to a ton of the games.
when Alex English played, I think Kiki Vanderway.
I'm trying to remember all the names back then.
And they're a pretty good team.
They used to throw up three pointers like it was going out of style.
And the Denver fans are fantastic.
So good on them.
All right.
We segue as it starts the rain outside.
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Dow was down 232.
I wouldn't pay much attention.
Why?
NASDAQ up 53, NASDAQ 100 up 104.
The transport's up 193.
New High is pretty good.
There's just a bunch of downames.
And they pulled back the housing a little bit today
and some other areas because, you know, raising rates again,
another time, this, that, and the other thing.
But I can tell you this.
The semiconductors slash AI slash source.
slash software is still on the go, and it wasn't stopped today.
Though in the semis, which were up 56 today, the socks, there are a bunch of semis that were down today.
But leading the broadcom AVGO up 36 and VDIA up another 20, a new closing high.
There's your story.
And I can tell you, I think that's where it probably remains.
was down 400 at one time, NASDAQ was down 100 on the Fed, and it was just all over the map as usual.
He did a press conference.
I refused to watch it because the questions are stupid and the answers are worse.
We're just letting you know, notwithstanding and it's going to be normal pullbacks.
Didn't happen today.
This tech software semiconductor move, dang.
Up next, we'll stick with the markets.
I'm Gary. This is the one only investor's edge.
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You're going to feel better if you talk to it.
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Thanks for being with us today.
Again, the Dow was down 232.
It was down 400.
They had the NASDAQ heading down.
And as soon as the Dow, instead of being down 400, only down 232, the NASDAQ rallied 150 points.
That is where the money's flowing.
And even on a day where you had weakness, where the market had a chance to send these things down,
and some things did come down.
The frontline strength in what we call the artificial intelligence
had another good day today.
And I'm being told,
do you hear that thunder out there?
Thunderbolts in lightning, very, very frightening.
Central Florida baby, summertime.
I got an email sent to me,
Oh, Wendy's announced artificial intelligence.
Remember what we told you here, ladies and gentlemen, about Wall Street.
This is the bottomless pit side of Wall Street.
You know, the ones that brought out SPACs and screwed you for a money grab.
In 99, in the heat of the internet, companies were adding dot-com
to their names. Mutual funds were changing the name of their funds from the so-and-so technology
fund to the so-and-so internet fund, and when the internet went to crap, they changed it back.
That's the downside. Well, we're getting it from corporations. Everybody's mentioning
artificial intelligence now. My dog just walked in. He's scared of the thunder. I'm sorry, Winston, I know.
and we've really got to watch that
because there's going to be a lot of fakers.
Why would Wendy's
have to announce artificial intelligence?
Is that going to be material
to increase in their sales big time?
Really?
Is that going to get another person
to their restaurant?
No.
Well, at least they'll have to prove it to me.
Maybe I'm wrong.
But you get my point?
So there's going to be a bunch of that going forward.
And all I can tell you with some of these movers, and there's just a few big outliers,
there's some big moves, but there's a few that are real big.
Boy, they better have big, gigantic, gargantuan earnings and sales going forward.
Because I got news for you.
When the music stop and there's only one chair left, look out.
but for now
they couldn't sell them off today
and they ripped a few higher
by the clothes today
and I'm going to tell you
flat out I believe in it
to what extent I don't know
that's the best way I can explain it to you
and I've been doing all kinds of studying
on artificial intelligence
and where would fit in
and how big it would be versus
and I've listened to
some very important people in the technology field say, oh, this is earth-changing.
I have to tell you, from my study, I don't see where yet.
Yeah, I know they're saying that it can write up a dissertation,
and I'm hearing things about being able to diagnose cancer better than before.
I think there's a lot of butts
involved going for a we're just let you know
as far as the market goes
it is paying a stiff premium on certain names
and they did it again today
on a day where
it kind of saved the day
market was getting rocked off this Fed
for whatever reason
and every tick up in the Dow
it just you see the money flowing in
to these select few names.
And I don't know if it's that few anymore.
I would suggest it's more than a few.
Also, have note today.
Transports, they're picking up now.
I can tell you that.
China a little bit better.
The one area, you remember we've been saying the broad market has picked up.
The one area that we're doubtful of is energy.
We're doubtful of it.
and that has to do with commodity prices.
Energy prices are way way down.
So I'm not a big fan of energy.
Other areas have been picking up.
I can promise you this, though.
How do stocks work?
They stop going down.
They repair themselves.
They start coming up and do stair steps.
We suspect there'll be a lot of backing and filling.
We're going to be watching a lot of names on what we call.
all the backing and filling. Two steps up, that one step back. I think a bunch of them today
did some of that one step back today. Advanced decline 1723 on the New York, 1626 on the NASDAQ
telling you it was kind of on the bigish side today on those areas. But I really don't have much in the
way of complaints. The boo birds are still out. Big recession coming. End of the world. Inverted
yield curve. As I have told you, I think the only way a big recession comes is if we lose the
job market and we haven't lost the job market. There are things out there that could explode
if we lose the job market. And I mean the consumer. But right now the market is definitively
saying otherwise.
And surprisingly so.
And I say that, why?
Because inverted yield curves have like 100%,
like 100% of calling for good recessions, if not worse.
And I got news for you.
The 10-year right now is at 3.79%.
Money markets are five and change.
Three-month T-bills.
right now get this 5.25 you get 5 and a quarter percent on the next three months on your money risk free we'll see all we can tell you that AI thing didn't end today the one year if you want to go out a year paying five in a quarter so just letting you know if you were doing that I would go out of
the one year because you get the five and a quarter for the whole year.
Because at the end of three months, who knows if yields are coming down and you get less.
Of course, you're making a bet if yields go up higher on the one year.
You get, on the one year, let's say it goes to five and three quarters, you'll lose a little bit.
Next, the another inflation number came out and all these people are yelling and screaming, oh, you see, inflation.
We called inflation topping out last June.
Now, not everything.
I can tell you cereal is still up there.
Bread is still up there.
Butter and margarine is still up there.
Paper products are still up there.
And I must tell you, companies are taking advantage.
How do I know?
We look at commodity prices.
They've come down.
So if soybeans are weighed down and all kinds of other things are weighed down,
how cereal still weigh up, guess what they're doing?
they're screwing you
go look at the
chart of wheat
go look at a chart of wheat
it's crashed
over the last year
so how are wheat
products you buy at the store
still elevated
they're screwing you
that's what they're doing
they're absolutely positively
screwing you
and I can go through
all the commodities
they're screwing you. Up next.
This, that, and the other thing. Whatever else.
This is the one the only investor's edge.
Hi, I'm Dr. Jake Goodman, host of Beyond the script,
the podcast where I sit down with pharmacists to answer the health questions
you didn't even know you could ask at the pharmacy counter.
In this episode, we are diving into gut health with CVS pharmacist,
Victoria Motola, who explains why so many of
us live with stomach issues we should not accept as normal.
A lot of what I see is just like chronic bloating, chronic stomach aches.
Like I get a stomachache every time that I eat.
And it just becomes like a lifestyle where, oh yeah, you know, I just, I have a stomach
ache every day.
Or I'm constantly feeling like gassy.
And all of those things are not something that generally, if you have a healthy gut, you
should be living with.
So that's when we deep dive.
We deep dive into your medication.
We deep dive into your OTC medication.
and then at that point we can probably identify something that we can change.
Hear the full conversation, plus some fascinating facts about how gut health affects so much more than just your stomach on Beyond the Script,
a podcast from CVS Pharmacy and IHeart Radio. Listen now wherever you get your podcasts.
With the Venmo debit card, a taco in one hand, and ordering a ride in the other means you're stacking your rewards.
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From takeout to ride shares, entertainment and more. Pick a bundle with your go-tos and start earning cash back at those brands. Do more stash, get more cash.
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Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right? Wrong.
Simply steamers are delicious and healthy.
The tray-and-tray steam technology delivers crisp veggies and tender protein and tasty selections
like Healthy Choice Simply Steamers grilled chicken and broccoli alfredo.
It's a satisfying meal with 28 grams of protein and nothing artificial.
Healthy Choice Simply steamers.
What having it all tastes like.
You're listening to.
What are we waiting for?
Well, what are you waiting for?
One, two, ready.
Go.
Investors Edge with Gary Colpaw.
And welcome us again to Investors Edge.
So we wind and complained a little bit, but that's what we have to do.
Just remember, we never used to.
Our politicians decided to be these corrupt pieces of crap years ago and put us into debt in Hock.
Massive insider trading that's legal.
for them and illegal for us.
And the problem is,
it doesn't matter who you vote for.
I can't find anybody
that replaces the last person
who is corrupt,
who I have much respect for.
Simple as that.
And we replaced the last president
who lied out as you know what,
24-7, spent six to seven trillion debt more
when he told us, oh,
by the way, he's,
campaigning now saying, oh, he'll lower the debt again.
He's lying as usual.
And we brought in somebody who's twice as worse and is a Marxist, control freak, protected
by the media.
Do you know that the deficit in the next year is $2 trillion?
And he's out there saying what a magnificent job he's done with debt and deficits.
$2 trillion deficit.
They've raised federal spending from the year.
before COVID over $2 trillion, it's all debt.
And we just took it.
We just sat there.
They told us if they didn't do it, it would destroy the economy.
They're destroying the economy.
They're kicking the 166 million of us that go to work every day in the teeth.
With their corruption and their deceit and their lies, and they've got these lying economists,
to back them up, that raising the debt ceiling is good.
They keep telling us they have to because of what they spent it.
The problem with that is, why are you spending it if you don't have the money?
I hope I'm gone when it hits.
And I'm just letting you know the market will tell us when it does.
We promise we will, I don't even know if we can redouble our effort.
We've redoubled it 400 times.
But when it hits, the market's going to show.
And as we've told you here, we know nothing about the market in 87 when it crashed.
But we went backwards, and just so you know, we spent 100 hours.
And we went each day, three months leading up to the crash.
And we took the indices and 200 stocks.
And we went through each stock, the 200 of the most widely held stocks at the time.
and we went through each name and we went each day.
We're not allowed a guarantee in my industry.
We're letting you know we're 100% certain of ourselves.
When it hits again, we'll be out.
We would have been 100% in cash weeks before the market crashed.
100% in cash weeks before the market crashed.
just letting you know.
So when it does hit, it won't happen in a day.
It'll happen over weeks.
And how did markets top?
Just like we called the top in 21.
Stock by stock, sector by sector, day by day.
It's easy.
You got to work at it.
And we love the people that don't work at it,
that are paraded in front of you that say
you can't time the market.
You have to be in 100% of the time.
Ask them if they still own Citigroup from 2008.
It's down 90% from the highs.
Or maybe they own Merrill Lynch, that's a zero.
Or all the other big names that you had to own for life in the financials.
Or maybe the hottest stocks leading into 21 like PayPal and Square.
So just letting you know, I want to make sure you know, we'll be ready.
Because they are taking us to places.
It's the best way I can explain it.
Beyond the beyond.
Brought to you by 535 of them today.
The 535 of them from last year, the year before, and the year, you got it.
and whatever administrations were there.
And they should be locked up and the key thrown away.
But of course we can't do that because they run the country.
The good news is, pay no attention to the Dow today.
Market strong.
Not everything.
But when semiconductors lead, tech lead, usually in good stead.
If anything changes, we'll let you know.
there is nobody better at seeing tops in any area.
And I can tell you right now, there's still some bearish areas of the market.
I don't see anything at this second topping.
I don't have individual names, yes.
Areas, absolutely not.
They will show up again.
if anything areas are showing up the other way cruise lines airlines
today maybe rails and truckers that have been absolutely comatose that's good news
and again if anything changes we'll be on it all right tomorrow 10 a.m.
Varney and Company, Fox Business Network, check it out.
Same time tomorrow, this radio show.
You'll have a good evening.
You have a great evening.
Drive carefully.
When you get home, do like we do.
It's quite simple.
Make sure you hug your family.
Make sure you hug your children.
They will feel better.
You will feel better.
I promise.
Stay well, everybody.
Thanks for joining.
Always appreciate you listening.
Peace out.
Bye, bye.
with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary,
go to GaryK.com. That's GaryKK.com.
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