Investor's Edge with Gary Kaltbaum - Quite The Monday!
Episode Date: October 17, 2022Follow Gary on GaryK.com or http://garykaltbaum.com...
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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 Colbaum, your host day.
Thanks for being with us today.
Glad you're here, ladies and gentlemen.
Happy that you are listening.
It's Monday.
It's October 17th.
It's 2022.
Hope you had a good weekend.
Giants are five and one.
How about those giants?
Lots of talk about.
As you know, this is serious talk about you and your money and all points in between the markets, the economy, jobs, unemployment, taxes, deficit spending, scam, shams, corruption.
Our opponents.
You know who our opponents are, right?
Every freaking politician in Washington, D.C. is well, the national media that takes one side and coddles one side and never reports on one side.
And that's how you get the $31 trillion of debt.
But that's for another day.
What else? On today's show?
So let me start out.
So as you know, we had this little Home Depot story here.
As you know, I went and bought a refrigerator from my wonderful parents,
90 and 88 years old in New Jersey.
And as you know, the first delivery never got there.
The second one got there.
And it never worked.
And the delivery people sucked.
Even though I even realized that I gave him the biggest tip they will ever
get, not realizing the refrigerated and work, then the third delivery did not show up.
I've been on the phone.
By the way, this is not an exaggeration.
If you don't believe me, sorry, but this is not an exaggeration.
15 hours with Home Depot, with logistics, with Home Depot, logistics, back, forth, back, forth,
and may I state for the record, the people at Home Depot are marvelous.
They're fantastic.
They're patient.
They're trying. They're willing. They were upset for me. I thought one of the women was going to cry for me. And then I mentioned it to all you out there. I just want to let you know, I received almost 200 emails from all of you trying to help me out. I had people email me, Gary. You can have my big truck. I've got an extra fridge if you need me to drive it over to your parents. I had one of those.
Email after email after email just to help me out and my parents out.
And I am forever grateful and thankful.
One of our listeners is an attorney or viewer and he, I did not know this, he was able to get the direct email address of the president and the vice president.
and the vice president of customer experience at the Home Depot.
I emailed them, and I simply explained in classy, charming, and terse verbiage, what the story is, and please help.
Within one hour, I got a call from what is known as their escalation department, a risk.
a refrigerator is on the way
and oversight by the head honcho
top dog big cheeses of Home Depot to make sure it gets there
I'm going to suspect that it's going to get there
and they are giving it to my parents
for free
I didn't ask for it for free
they offered it for free
so trials and tribulations
By the way, I constructively told them what they need to do differently or better.
The issue is that, by the way, it's not just Home Depot.
It's all of them that sells appliances.
What is done is, first there's the company with the appliance and the logistics company that delivers.
So there's like two or three other levels that you've got to go through.
If one of them screws up, you know what happened in this last delivery?
Somebody coded it in wrong.
Home Depot is not at fault.
Somebody else down the line coded in wrong.
The problem is, though, Home Depot, delivery, logistics, whirlpool.
It was a whirlpool fridge.
But I will repeat, the Home Depot people are terrific, magnificent.
They couldn't do enough.
By the way, this is before.
I'm talking about the people you never going to meet are just,
in service, they could not do enough. So just letting you know what ended up happening, how it
happened. I bless all of you for trying to help me out. I'm forever thankful for it.
And again, I must tell you, you get to the point where you think there's no hope in that
15 hours I had to spend on a phone.
15. I timed it.
And different phone calls to different people.
Home Depot tells me they're going to try and do their own delivery for all appliances
in the next couple of years. I said it's not soon enough.
Depending on others to do the delivery, you better have a very good relationship with those
delivery people and communication with those people.
that would be lacking
anyway there's your story
I'll let you know the day the refrigerator is in
and working
but it's on the way I can promise you that
okay
so
next
oh yeah the markets
we had a
5,600 point drop in the Dow
in two months
a 3,800 point drop in the Dow in one month to the recent low.
That's why you get bounces slash rallies.
That's a big drop.
And when I use the word Dow, the Dow is supposed to hold up better than everything else in a down draft.
And look how far the Dow dropped, which takes us to Thursday.
We were still going down and then poof out of nowhere.
I think it was a 1,500 point reversal.
And I believe that 1,500 points happened within hours.
Not the whole day.
Within hours.
Quite the amazing.
I'm putting it up right now just for edification.
It went from 28660.
It went up 1,300.
points in two hours. On Thursday. Amazing, huh? At the close on Thursday, I'm thinking that's an
identifiable mark. Remember, what we do here, we identify. We identify important points in the
market. It is the reason why we have been calling bare market since last November, December,
in January, not once did we say the bear market is over since? Only counter-trend rallies.
But what identifying marks are we always looking for in downtrends? Big, gigantic reversal days.
What do they define? What do they symbolize? It's very simple. After a big drop, after the big
drop, everybody's bearishers all hell. Everybody's.
he's betting on more downside and sellers just get washed out at the most inopportune time and the
identifying mark is oh continue downside in the day and boom big reversal it's just an identifying
mark so i'm thinking on thursday all right we're putting in a some sort of a low here of unknown
price and time why because of how far down we went and i was confident of that
that on Thursday. They did not take any action on it on Thursday. And Friday, guess what happens?
We open up hot and we sink like a stone. Not only do we sink like a stone, they trash the living
heck out of the NASDAQ types. You know, the types that I care about most because that's your
risk on or risk off. And I go into the weekend thinking,
did that Thursday not matter?
That unbelievable identifying mark did not matter?
It may have mattered.
Up next.
Today, and surprisingly today, this is the one only Investor's Edge.
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Hello, hello.
I'm Malcolm Gladwell, host of the podcast Smart Talks with IBM.
I recently sat down with IBM's chairman and CEO, Arvin Krishna.
And I asked him, how can companies use AI to,
its fullest potential to create smarter business.
My one advice to them, pick areas you can scale.
Don't pick the shiny little toys on the side.
For example.
If anybody has more than 10% of what they had for customer service 10 years ago,
they're already five years behind it.
If anybody is not using AI to make their developers who write software
30% more productive today,
with the goal of being 70%
more productive.
Yeah. Wow.
So we are not asking our clients
to be the first experiment on it.
We say, you can leverage what we did.
We're happy to bring out
all our learnings, including what needs to change
in the process, because the biggest change
is not technology.
It's getting people to accept
that there's a different way to do things.
To listen to the full conversation,
visit IBM.com slash smart talks.
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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.
And welcome once again to Investor's Edge.
So we use certain language, certain verbiage.
On Thursday, we're thinking that's an identifiable,
mark and what we basically state is the low of Thursday will not be taken out anytime soon
because it's such a big wide bar on the day finishing at the highs of the day and then
Friday comes but never took out the lows but suspect is all hell why they were smoking
crumbling. The NASDAQ types, the Riscan types. The day after a big reversal takes us to the weekend.
We're the New York Giants won again and they're now five and one. Yeah. And I believe who the Cowboys lost in last night, they're four and two, but the Eagles are six and O.
Pretty good team, the Eagles, it looks like. And there was really no news over the weekend. Yeah, the United Kingdom backed away.
things they were doing I don't even need to mention what they were going to do it doesn't
even you know it matters and doesn't matter but nothing earth shaking and what happens
today just simply the NASDAQ opens up 280 points and there wasn't any news now the
NASDAQ is full of technology and the like there was no news that Apple selling more
phones or Microsoft's business is getting better or it just gathers
up 280 points. And as you know, listen carefully, we don't care why. We believe in what.
We believe in reality. And all we know is the NASDAQ gapped up 280 points. And as usual,
on a big gap like that, usually what they'll do is they'll rally it up for a little bit.
And within five minutes, and I'm not making this up, was up 360 NASDAQ points.
what so they crumble the NASDAQ on Friday and they get it all back by 940 a.m. today?
Based on what?
Nothing.
And as usual, once they're finished with that, NASDAQ doesn't do another thing the rest of the day.
That's how it usually works.
The Dow, same thing.
The Dow today, gaped up.
490 points and within 10 minutes was up almost 700 now the NASDA Dow came back a little bit but no biggie
what does that mean to us this is my take I I have no idea what happened on Friday or why
I have no idea what happened today or why all I know is Thursday's action I
believe holds sway. That's my take. I believe Thursday's action holds sway. I believe Thursday's
action put a line in the sand at those lows and we'll see how much it decides to go. Now let's
go backwards. We thought the same thing on January 24th after a big drop. We rallied up
for about one to three weeks before the market got trashed.
We thought February 24th was another one of them.
And you know what happened right after?
You went up and you did nothing for a couple of weeks,
but never broke those lows.
And then you finally rallied up for a few weeks
before the market took another leg down.
And then we had another leg down.
we had another big reversal on May 20th.
That one lasted three weeks before the market got trashed again and had another leg down.
Then we hit this low, reversal low and a gap the next day right around the 18th, make it at the 17th, you know, the 17th and the 20th of June.
And that led to some fudson around until what we thought we got a confirmation day on July 15th.
What's that?
A confirming action that told us this one may be better than others.
And we rallied for about four weeks, which led to this recent crushing, leading to Thursday.
And let me repeat.
We think Thursday is now holding sway.
We think Thursday's low.
Listen carefully.
We are saying this knowing central bankers don't shut up.
You got Marxists in the White House.
You have, what, 5,000 earnings reports in the next three to four weeks?
So on an individual basis, this is not our commentary because we don't know what's going to blow up and what isn't.
we think it'll be tough for the market to break the lows of Thursday anytime soon.
What does any time soon mean to us right now?
That's all.
How long this lasts, how far it goes?
Don't know.
Could it be the bottom?
I'm doubtful.
More likely it is the end of a bruising drop to the down.
side leading to a counter trend of some sort?
Do we believe that the eventuality is we're going to break that Thursday low again?
I would give it a better chance than not breaking it.
How's that?
That said, we ain't going to act on that thought.
You know what we're going to act on?
Card's coming out of the deck.
Continued improvement.
two steps up, one step down, some leadership showing up, which we don't have at this juncture,
got a few names.
And in the last two weeks, we had a bunch of things that were holding up to get trashed.
And we will be here day to day, we'll be around day to day, to day to stay on top of things.
Up next, calling the bottoms.
We'll explain.
This is the one only investor's edge.
Hello, hello, I'm Malcolm Gladwell, host of Smart Talks with IBM.
I recently spoke with IBM's new director of research, Jake Mbata.
We discussed his vision for the future of quantum computing.
At IBM research, what we always do is answer what is the future of computing.
Whether it's coming up with new algorithms, coming up with better AI, coming up with quantum,
or coming up with just how do different accelerators go together.
It's our DNA to answer the question of what is the future.
Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff?
Yes.
Building actual physical machines.
Yeah, it's why I came to IBM.
I wanted the experience, the culture of building hard things that others have not done before.
Where do you imagine we are in the timeline of this technology?
There will come a point when it will mature.
Right?
My cell phone is a mature technology at this point.
How far are we from that point with Quantum?
By 2029, we'll build the first fault-tolerant quantum computer.
That is one that can run a very, very large, large problem.
To learn how IBM is building the future of computing, visit IBM.com slash quantum.
Hey, it's Ryan Seacrest for Albertsons and Safeway.
It's stock up savings time now through March 31st.
Spring in for store-wide deals and earn four times of points.
Look for in-store tags to earn on eligible items from Celsius, Body Armor,
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Stack up those rewards to save even more.
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I'm listening to it.
America is talking about.
Hackin.
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 Colbomb.
It comes highly recommended.
You're going to feel better if you talk to him.
And welcome once again to Investors Edge.
Let me take this moment in time to say, you're welcome.
If any of you listen to me on the NFTs, somebody had bought an NFT for $2 million in change.
It got a bid today for $90.
It is amazing how the wealthy get caught up in stupidity, in bubbles.
The wealthy.
The super wealthy, unbelievable what I'm seeing.
The wealthy of the wealthiest.
The wealthiest of the wealthy.
One guy bought a sculpture for 18 grand that was invisible.
You know what that means.
there was no sculpture still paid 18 grand people bidding up just utter stupidity for what i don't know
and they're losing their arse on them you're welcome that's on top of the coins you're welcome
on top of the spacks you're welcome the ridiculous price ipos you're welcome how about the short squeeze
thoughts you're welcome or the electric vehicle scams you're welcome
or the battery scams, you're welcome.
All the bubbles.
You're welcome.
I read that.
I was like, wow.
So as you know, people love being heroes.
Hey, I would love to be a hero.
Wouldn't you?
Well, on Wall Street, the constant calls,
the market's bottomed.
Hey, recognize me.
Look at me.
it's bottom, the bottom, the bottom.
And of course you have a bunch of charlatans and a bunch of creeps on Wall Street,
just like in any other business, that lie about their record.
They'll call the bottom 400 times in a bare market,
and on the 401st, finally bottoms, and says, look, I called the bottom.
By the way, yeah, the most famous person on television in the financial industry did that in 2009.
We are letting you know when the market does ultimately bottom.
It does not happen in a flash.
It does not happen in one day.
It happens over time.
How do we know this?
We've studied every bare market bottom.
You got that?
And I know there's some people out there, some very weird people out there that have been wrong this whole year that says the debt.
There's one guy that says the S&P 6,000.
Unfortunately, he said it was going to be 6,000 now.
And we're 3,600.
He says now it's going to be 6,000 in six months.
Not going to mention it.
So he's saying in six months the S&P is going to go up 70%.
I hope he's right.
We're just letting you know that would be an outlier event.
Bear markets do not do things like that.
That said, of course, if Jay Powell decides the print 20 trillion bucks, you never know.
But we're just letting you know how bottoms do work, and we know this by fact.
we've studied every bare market and every bare market bottom.
They take time.
Because everything is so injured, you take need time to repair.
Everything's so blasted.
You need time to repair.
Everything is so far down.
You need time to repair.
And again, we're not opposed to anything.
We're unbiased.
The S&P wants to go 6,000 in six months.
Terrific.
Terrific. We're all for it. Evidence.
Moral of the story, just be careful of what people say.
Everybody wants to be a hero.
Now, there's also been talk about last week that the short sellers,
the less wealthy short sellers were records last week.
By far.
And maybe this is getting fewer.
will buy them, I'm all for it. Sure. Whatever. We don't care. Because when we scan,
it drowns out every little thing except what's in front of us, what we see, and our ability
to be out of this this whole year is because of what we see and not injecting bias into it.
Or anybody's opinion except the market itself. So we just want you to remember that. And again,
let me repeat.
Thursday looks like the low.
We can still pull back into Thursday,
which we did on Friday, by the way.
That low is going to be tough to be taken out right now.
And let's hope it becomes the low.
We'd be all for it.
Other news in the market.
Well, symbol N-E-R-V,
as you know, we miss every one of the
of these no sales biotechs that has skyrocketed through the years. We miss them because we don't
have the grapefruits to go to sleep at night and wake up in the morning and hear that the placebo
did better than the drug in trials and the stock is down 50% overnight. Now we report to you the
ones that go up. We also obviously report to you the ones that go down. So recently you had a bunch
of these no sales biotechs going up in the midst of a bare market.
Well, symbol N-E-R-V-M-NERVA neurosciences close today down 70%.
Went down $9.34 to $4.9.
I guess the market wasn't happy.
What's the moral of the story?
Be careful.
They have been public since 2014 and still has no sales.
And without even me having to get into what happened,
we're just reporting to you what happened.
with the stock. It was obviously not good news. On the not so great front, yields finished back above
4% today after going down early, and that's actually rates a big well that the market stayed up on
that. But the dollar dropped pretty good today, and we think maybe that had something to do with it,
or again, 5,600 Dow points in two months, 3,800 Dow points in one month. Maybe that's all that's
going on. Not to mention, oh, we can go through individual stocks. You know, Microsoft was up nine
today to 237, but two months ago was 294. You catch in the drift. You know, Tesla was up 15 bucks
today to 219, but four weeks ago was 313. It's still down 94 bucks from four weeks ago. That's why
we rally up. That's why you've got to keep perspective. You've got to know these things. Is this just a
counter trend rally is at the new bull market? We think it is down 100 up 10. Could it be down 100
up 30? Hell yeah. We can go higher. And we suggest we probably get more upside from this.
We just don't know how much and from where, but we'll get a better understanding on a daily
basis. There's still a clear lack of leadership in the market. Hardly yet. There aren't in really
new yearly highs. I see some pipelines and stuff, but not much.
We'll say after that.
But good day today.
Market wrap brought to you by
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Dout 550.
What's up almost 700?
S&P 94, NASDAQ-3504, NASDAQ 100, 370.
NASDAQ got back.
It's lost from Friday.
That's what it did today.
But you want perspective?
the NASDAQ closed at 10,675.
It was 12-270 four weeks ago.
It was 13181, 8 weeks ago.
It was 16-212 last November at the highs.
When we told you, get out!
Well, we didn't use those words, but you know what we do.
A very strong day for what we call the beta.
The high beta.
What are we talking about?
Oh, well, the stocks are down 50, 60, 70, 80, 90 percent.
Had a very strong day-to-day.
But again, in context, down 70 up 15, down 50 up eight, up next.
We'll elaborate.
And then we'll whine and complain.
I'm Gary.
This is the one only investor's edge.
Hello, I'm Malcolm Gladwell, host of Smart Talks with IBM.
I recently spoke with IBM's new director of research, Jake Mbata.
we discussed his vision for the future of quantum computing.
At IBM research, what we always do is answer what is the future of computing,
whether it's coming up with new algorithms, coming up with better AI,
coming up with quantum, or coming up with just how do different accelerators go together.
It's our DNA to answer the question of what is the future.
Isn't it a perfect problem for IBM because you kind of need to have a legacy of building stuff?
Yes.
building actual physical machines.
Yeah, it's why I came to IBM.
I wanted the experience, the culture of building hard things that others have not done before.
Where do you imagine we are in the timeline of this technology?
There will come a point when it will mature.
Right?
My cell phone is a mature technology at this point.
How far are we from that point with Conton?
By 2029, we'll build the first fault-tolerant quantum computer.
That is one that can run a very, very large, large problem.
To learn how IBM is building the future of computing, visit IBM.com slash quantum.
Hey, it's Ryan Sechrest for Albertsons and Safeway.
It's stockup savings time now through March 31st.
Spring in for store-wide deals and earn four times of points.
Look for in-store tags to earn on eligible items from Celsius, Body Armor,
Oiraida, Silk, Capri-San, Bavarian Meets, and Charmin.
Then clip the offer in the app for automatic event-long savings.
Stack up those rewards to save even more.
Enjoy savings on top of savings when you shop in-store or online for easy drive-up and go pick up or delivery.
Restrictions apply.
See website for full terms and conditions.
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You're listening to.
What are we waiting for?
Well, what are you waiting for?
One, two, ready, go.
Action!
In the guest's edge.
with Gary Culper.
On the NASDAQ, I have two new yearly highs.
On the NYSE, that's a buyout.
I have one new yearly high in the pipeline symbol STNG.
I have ELF.
It's a cosmetics company.
I have B-O-L-B-O-W-L bowling centers.
I have the W-W-E.
If you smell what the rock is cooking,
I have a couple of regional banks like Cullen Frost Bank, CFR,
and that's it for your new yearly high list.
No, really, that's it.
So, again, it seems to me
that Thursday was an identifying mark,
even though after Friday wasn't so sure for now.
And let's hope it is the low.
Not so sure.
What else?
Let's see.
I mentioned yields.
Okay, I did the Home Depot.
Earnings this week, just let you know.
Goldman Sachs Johnson and Johnson in the Dow Netflix, J.B. Hunt, IBM, Procter & Gamble Travelers in the Dow, Lamb Research.
By the way, the semiconductors were on the weak side today.
They still haven't gotten going, but I gather if this continues, they'll get a little bit of lift.
Tesla this week.
Blackstone, some airlines, Union Pacific, CSX, American Express, Verizon.
So it'll be a big week.
Pay attention. We'll be on it.
So the Sunday shows and had some interviews with some of the candidates that are running in the midterms.
If you want to know why I'm worried, just go look at the interviews on both sides of the aisle.
It's nauseating.
you got somebody running in Arizona for governor that elections are fake
you've got somebody running for governor in Georgia
who complains about others saying elections are fake
yet she said for years that she lost the election because she was
because it was fake and now goes on TV a hundred times to say she never said that
even though there's a hundred hours of video on it and of course the media doesn't call
on it because she's on that side of the aisle.
You got a guy in Pennsylvania running for Senate that just loves criminals.
Gotta let him out.
Got to let him out.
Got to let him out.
Got to let him out.
Come on, come on, rehabilitation.
Got to let him out.
Got to let him out.
You got somebody running for Senate in Georgia that is pro-life.
Except when his girlfriend gets pregnant, he's not so pro-life.
We just covered both sides of the aisle and the bull crap that comes.
from both sides of the aisle.
I can't tell you how nauseating it is.
And of course, each side gives each side excuses
for the bull crap that comes out
because each side is full of bull crap themselves.
So we'll just keep repeating what we've been repeating.
Both sides are our opponents.
Both sides.
Remember, the Republicans under Trump
didn't care less
about debt and deficits and spending
under Trump's 6 trillion of new debt
that didn't matter
but under Biden
spending and deficits and debt
suck
and of course the Marxist party under Biden
never seen a tax cut they did like
and never seen a tax hike
you got my point
they're control freaks
That's what Marxism is.
Rules, regulations, fees, fines, mandates, taxes, oversight on your life because you know what?
Without them, your life can never be what it could be.
Because they're there for you.
Didn't you know?
Joe Biden, who has voted for 30 and a half of our 31 trillion of debt, is here for you.
And did you know he has cut debt down and deficit?
sits down over the last year. At least he told us that, which we know is a 100% lie, but
wait a minute, Joe Biden doesn't lie, does he? Why would he do that? After all, he calls Trump
a liar on everything. How can Joe Biden? Because they all suck and they all lie. And that's how
we got the 31 trillion of debt. And that's why I have no hope. Our only hope is you and your
hard work and you're sweating your toil because I give no hope to them. They're all in the
soup. They get elected. They spend their time as elected officials trying to get reelected and
solidifying their power with more of our tax dollars. Simple as that. 31 trillion tells you so.
And for those you want the right that believe in the Republican Party, I'm talking
about this Republican Party.
Didn't used to be like this a long time ago.
They used to fight over raising the debt ceiling.
The words debt ceiling mattered.
They don't matter anymore.
They laugh at us.
And that's why I've come out and told you,
I really think the con is they curse each other out in front of the camera and behind
the camera, I think they're popping the champagne corks.
All of them.
Hate each other in front of the camera, behind the camera.
I know. You got to vote for somebody. You got to believe in somebody. I want to also. Find me somebody I can believe in. I'll be glad to. I take no joy in this belief. I take no joy in my words. But 31 trillion of debt. And you know what else is going on out there. Says so. The good news is Thursday has sway on the market. Let's hope it continues. I'm all for it. You have a great evening and drive carefully when you.
you get home do like we do, quite simple.
Make sure you hug your children, hug your family,
they will feel better, you will feel better.
Tomorrow, I believe I'm on Fox News in the 4 p.m. hour with Neil Cavuto,
more than likely.
Not sure what else.
And it'll talk tomorrow's same time tomorrow, this show,
the most important show on you and your money, radio or TV.
We'll be back same time.
Have a good one, everybody.
Good night.
This has been Investors Edge with Gary Cultbaum on BizTalk.
to past episodes or to get in contact with Gary, go to GaryK.com.
That's GaryKee.com.
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