Investor's Edge with Gary Kaltbaum - The $10,000 Con!

Episode Date: August 24, 2022

Follow Gary on GaryK.com or http://garykaltbaum.com

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eBay, things people love. Investors 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 Coltbaum, your host. A thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Wednesday, August 24th, 2022. This is a little bit of the cold and flu edition of Investor's Edge, but really it's only the nasal edition of Investors Edge. You ever get it just right there?

And I actually feel fine, but I know for a fact how I work. Within a day, it's going to hit the throat. Hopefully it doesn't get worse than that. It's the travel thing. You know, you travel airplanes a lot. you know what can I tell you hope you all having a good day I'm not now when I say I'm not is I feel like I'm here representing you and today basically sucks and I'm explain why in a couple of minutes without any agenda any ulterior motive or any bias on how the con game

continues and how we got to the point of inflation and bubbles and massive debt and deficits that They kind of just gloss over because something new happened today. Another con foisted upon you today. By the same people who have been doing it for 50 years today. But first, oh, and then we'll do the markets. If you do not get this radio show in your city, we'll post it at garyk.com. We'll also post it on our Twitter feed. Join us on Twitter.

Follow us on Twitter. Go to Twitter, put our name in, or press the Twitter button at Gary K. You can email me, just be nice. I'm really a nice guy. If I had friends, they would tell you. Okay. In case you don't know, President Biden, that nice guy, that sweet man, this wonderful dude at the stroke of a pen,

has told all the students that borrowed money, that make less than $125,000, he, President Biden, is going to forgive 10,000 of those dollars. And I gather that $125,000 is in the last year. So if you made $125,000 in $1 in the last year, you're screwed out of $10,000. If you made $124,99, you are going to be forgiven $10,000. For starters, that's how stupid this is. Just for starters. Now, let's preface a few things so you know where I'm coming from.

Just in case you think I have some bias. I was completely against bailing out Wall Street in 08, yelling and screaming about it to anybody who would listen. and why was I against it? Because what Wall Street and the Fed did was take advantage of the Fed's easy money and the no oversight of Wall Street. And they put a ton of their eggs in one basket of mortgage-backed securities.

And they leveraged it up the wazoo. And of course, leverage on one item. If you're leveraged 100%, you're screwed. if it just goes down. You get my point. So Wall Street completely screwed up, committed crimes. I will tell you flat out, the people who ran Merrill and Bank America committed fraud, insider trading. They knew they were going to do some sort of merge or this and that, and they kept it from the, not disclosed.

City Group took bad loans off the books before earnings, put it back on after earnings. and admitted it and nobody got indicted. And what ended up happening when all was said and done? Well, they got $800 billion. Not one person was indicted. Not even indicted. They all kept their jobs. And then they got the largesse from Ben Bernanke.

And we're off to the races. People who committed fraud and crimes and felonies were given craplodes of our dollars and then bazillions of easy money under the guise of if we don't do this it's the end of the financial system we were against that vociferously against it they keep telling us they saved GM no they didn't they keep telling us they saved the auto industry no they didn't Ford didn't need any money you know why GM needed money? Unions. It cost every time they made a car, they lost $1,500. But guess what? For the greater good. What else are we against? Well, we just did this chips act. We just gave hundreds of billions of dollars

to semiconductor companies that make billions of dollars already. Why is the taxpayer given them? Oh, that's right, because the politicians are. Can't wait to see what politicians get how much money from these semiconductor companies. You don't think that's going to happen? Of course it's going to happen. We're against that. We were for the PPP, because we believe government should be there to defend us

and be there for emergencies. And of course, the pandemic was an emergency. People dying were shut down, the whole works. I was for that. So now the latest. Student loans. 10,000 bucks. Interesting.

Well, unfortunately, my compatriots are not explaining it well on TV. I saw some Republicans debating some Democrats on TV, and I'm saying to myself, damn, they should have me on there. The independent that I am, the logical person that I am, because the Republicans are guilty themselves. and really do not explain it very well. I do. Let me explain the problem with this.

Number one, you're a student that had loans and paid them off. You get nothing, but the person that hasn't paid it off yet gets 10 grand. Something's wrong with that picture. You're a student that never took out loans and just paid for college. You get nothing. something's wrong with that picture. You're a student and you have loans and your wealthy parents love you so much they are paying off your loans. Those wealthy parents are getting $10,000 of that loan.

Do you see the distortions already before I even get going? You see, let me explain to you Marxism and socialism. It's using other people. people's money to buy people off. Now, I'm not saying these students that have loans or bad people. I'm saying that Joe Biden's trying to buy you off. Look what I'm doing for you. Here's the next problem.

What about the next loans? You go to college this year, next year, and you start taking out loans now. Is this a one-off? And is it all about timing? Interesting, huh? Just some food for thought. Because we have turned into nothing but a slush fund for these people. A student that paid off their loans is now covering ones that didn't. A student that didn't take out loans is now covering loans. Where does it end? where possibly does this end? Joe Biden is voted for $30 trillion of a $30.5 trillion. So what does he give a crap about $500 billion? Oh yeah, that's right.

It's going to add $500 billion to our deficits over the next 10 years. And that's admitted by the White House. But what else is the problem? There's a direct correlation between what colleges have been charging and these government guarantees. That's up next. Then the bow tie. And then the markets.

This is the one only Investor's 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 money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services, including retirement planning, fixed income, and educational needs, all to assist you in achieving,

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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 what once again to Investors Edge. So watch my math. You owe 100 grand in student loans. And you're going to pay it off in 20 years, 15, 10, 20. And it's now 90. You know what you're saving a month? Not a ton.

It's pittance. It's 10% of what you're paying. That's number one. Do you know what that means? They're going to try and do more. And more and more. Deeper into Marxist socialist thought. using other people's money to take care of other people

in order to curry favor and buy votes. We were against Trump paying off the farmers. Do you remember that? Trump did all kinds of stupid crap that hurt the farmers, so he handed them money. We were against that too. Our government is turned into nothing more than a confiscator of our future wealth to do their bidding now.

The numbers are gargantuan and grow by the day. I say this on TV whenever I can. I tell you more often, but nobody seems to care. 1.6 billion of our tax dollars goes towards interest every single day and grows higher every day. And this will be infinitum, never ending. 3 billion is added to our, I take it back. About 3.3 billion is added to our debt every day and grows infinitum. This all comes from these programs, from government.

But government's people. Joe Biden. Donald Trump was a good $6, $7 trillion. Obama was $7,8 trillion. Bush trillions. Interesting. How all of a sudden we now have lots of inflation. You're paying a lot of extra money for things you never had to.

Why do you think that's happened? Because the market knows we're getting closer. The jig is up. It's been found out. They've sloshed too much of this out there, the massive debt and deficits, and the comeuppance possibly at hand. Joe Biden lied. In five minutes, in five minutes today,

he made Donald Trump look like a truth teller. And Donald Trump, of course, one of the greatest liars of all time, had to verify every single word the man said on a daily basis. And he's still lying about the election and all that crap. I know I'm going to get emails on that the election was rigged. In case you don't know, everybody who knows Trump knows he doesn't even believe it, except he has to keep selling it. But that's for another day.

So what's another $500 billion of socialism to a man that has voted for $30 trillion of our debt? What's another $500 billion of what they call OPM of the people's money? Do you think Joe Biden would be doing this if it was coming out of his pocket? Hell no. Nancy Pelosi said a year ago,

it's unconstitutional for Joe Biden to do this. but Nancy Pelosi congratulated him today on doing this. Nancy Pelosi just went against our own words on the Constitution. She's third in line to the presidency. Do you see what kind of scumbags we are dealing with on both sides of the aisle? They don't even give a crap about the Constitution? Not a lick. I saw yesterday they did the primaries.

A guy named Gerald Nadlu's been there for like 90 years, beat some woman Maloney that's been there for like 90 years. They were beating each other up, even though both of them voted for the trillions of our debt. The elder guy won as this Maloney person took the gloves off and started calling him senile because of how old he is. These people are all scumbags in D.C. now.

I tell it to their faces. $30.5 trillion of debt puts that word on their foreheads. And here comes another $500 billion of socialistic Marxism. And for those of you who are getting this little bump from them, I'm happy for you. I really am. I have nothing against any of you students that took out loans and are now getting a $10,000 bump. I have everything against those who are going into debt, our debt, to hand it to you.

The con game grows another day, another number. And you all wonder why all this crap is going on. as I have said to you, they curse each other out on camera, and they're laughing their asses off behind the camera, on solidifying their power, not even with our tax dollars, with debt. And the debt has caused the distortions that cause the inflation. Them, the ones that are voted in.

Up next, today's market, much more. is the one only investors 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 stomach ache every time that I eat.

And it just becomes like a lifestyle where, oh, yeah, you know, I just have a stomach egg 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 affect 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. Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right? Wrong. Healthy Choice 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. Cashflow crunch? On Deck's small business line of credit gives your business immediate access to funds up to

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Funds could be available as soon as tomorrow. Depending on certain loan attributes, your business loan may be issued by on deck or Celtic Bank. On deck does not lend in North Dakota, all loans an amount subject to lender approval. You're listening to. America is talking. Investors edge. He's got to be pleased with that.

The crowd is just on his feet here. He's a Cinderella boy. With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. What up. And for all of you out there, I am not left. I am not right. I am logical. I've lost any love or like for either party, any person there. We are now going to get a whole new crop of people going there. And they're all going to yap away and vote for more and more debt. because they are being told that if they don't,

all hell's going to break loose. What they have done, they have set up the system that if they don't raise the debt threshold, we're in big trouble. That's how bad it has gotten. And they have con artists in the economics field to say, yep, that's what we need. When it's Economics 101 says we need less.

So for you on the left that are so happy, you on the right that are so unhappy, and vice versa when your guise in or not, you all should be just really pissed off. The utter castration of the taxpayer grows bigger by the day. Under the guise of, we're here for you. contract law on loans screw you we're giving you 10 oh wait hold on we're not giving you yeah we're giving you 10

no it's the taxpayer they've perfected it they've perfected the con and you're seeing the outcome and the unwind of a lot of it inflation up asset prices down housing's next

I've been yelling and screaming at you I am so and you know me I'm no Cassandra but we are really worried about a bust no a real bust a real bust the Ponzi scheme the con job

all Ponzi schemes and badly every one of them and badly because eventually you run out of other people's money or things blow up. They're taunting of us and the markets

continue unabated. And I promise you, if the Republicans win the White House in 24, they'll do the exact same thing. Wish I had better news. But Joe Biden walked in front of the camera and lied and made up stories and numbers

like he's been doing for a while and we're paying the piper. And remember, the prices you are paying for stuff is part of this. That comes from the central bank who did their con job of printing trillion dollars

to cover up for all this crap. You don't think they are in cahoots? You think the central bank is independent like they say they are, horse crap. Big horse crap. All right, today's market wrap.

Brought to you by Investment dash models.com. That's Jim Rohrabak, one of the great market timers. No gray 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. That only up 59, S&P 12, NASDAQ 50. NASDAQ 136.

Transport 68. Just back and forth, back and forth, back and forth, back and forth type of day. I would call it. I use the word non-discipline. script. Not much, you know, there are certain days, there's not much I can take out of things. I can't take much out. The only thing I can tell you. Two things. Number one, oil prices were again up today and yields were again up today. Oil stocks at the end of the day were mostly green. There was a better tone today. I'll grant that. But after a few ugly days,

you deserve a little better tone and we'll see what tomorrow brings. We do have some aftermarket of import. I'll start with NVIDIA. Crappy numbers and actually lowered revenues again but the stock's only down about a buck in the after market after getting trash recently.

I wanted to mention that. It's an important name. William Sonoma down four bucks in the aftermarket. That's a name we watch. Victoria's Secret getting trashed. And fundamentally, I always ask questions. And I don't know if you know this, but Victoria's Secrets has changed their, who they are.

And I've been thinking to myself, is that a good move? And I answered myself with no. Anyway, that closed at 38. I got it at 33. Salesforce.com, that is a Dow stock. closed at 180. I got it at 170. That'll be about 70 Dow points. They lowered their guidance. Snowflake, and I'm going to have to look up these numbers. Stock is 159 at the close today. 185 in the aftermarket, even though it looks like they reported a 70 cent loss. But sales were good. So they keep losing a ton of money, but sales is a strong year over year. A Splung close at 110.

I got it at 106. And Autodesk, I got at 228. It closed at 214. So that's better. And network appliance up three bucks. So a little better tone. I got to really look at the NVIDIA numbers because as I look at the sales numbers, I'd be thinking the stock would be trashed even more on these real crappy sales numbers.

We'll see. But overall, I can't give you too much from today's action. How's that? do that every now and then we've got a pretty harsh pullback for a lot of the beta and the software and stuff like that in the last few days and a bunch of areas of the market and maybe we'll futs around a little bit here and there but that's the story of today things I noticed today that may or may not be important into it it's a name I watch was up like 28 and finished up

like 12 Tesla was up like 18 and finished up one not so sure about that but for me the thing that sticks out most oil prices higher and yields higher and I'm not so sure I'm not so sure that is good news

fundamentally if nothing changes in the next week expect a 20-cent bump at the pump to the upside and mortgage rates to be higher even more. I was sent an email today and I verified it. You ready? In January of 21. That's my music.

Up next, in January of 21. And what's important about it? This is the one only Investor's Edge. Hi, I'm Dr. Jay 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 stomach ache every time that I eat and it just becomes like a lifestyle, where, oh, yeah, you know, I just have a stomach kick 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 IHeartRadio. Listen now wherever you get your podcasts. Enjoying a healthy dinner that tastes great means eating out at a pricey restaurant, right?

Wrong. Healthy Choice 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. Cashflow crunch? OnDec's small business line of credit gives your business immediate access to funds up to $200,000 right when you need it. Cover seasonal dips, manage payroll, restock inventory, or tackle unexpected expenses without missing a beat

with flexible draws, transparent pricing, and control over repayment. Get funded quickly and confidently. Apply today at ondeck.com. Funds could be available as soon as tomorrow. Depending on certain loan attributes, your business loan may be issued by OnDec or Celtic Bank. OnDak does not lend in North Dakota. All loans and amount subject to lender approval.

You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In The Wester's Edge. With Gary Culper. By the way, there is a show I just finished.

You got to go watch it. It's on Paramount. though. It's called the offer. What it is is the whole getting Godfather movie going. And it's about Al Ruddy, who was the producer. He started out Hogan's Heroes and left and ended up producing the Godfather. He won the Oscar for it. And the Godfather, I believe, won best picture, but didn't win Best Director for Coppola because of Cabaret, I believe? Brando 1, that's when what was her name?

Little Feather went up there. Whatever. Awesome 10-part show. I give it a 100 star. And I must tell you, there are certain actors I love, and then there are certain actors you come to love.

This might. Miles Teller. Brilliant. Magnificent. Awesome. Who played Al Ruddy. You got to see this. The guy who played Al Pacino in the series?

Fabulous. There's also a couple else people. Juno Temple. I don't even know who the hell she is. Magnificent actress. And I find out she's big on some other series. which one it was. And then a guy I've never even heard of who played Robert Evans.

And you can go look up Robert Evans, one of the greatest movie people of all time. He was played by somebody by name Matthew Good. Magnificent! And there are others. This guy Giovanni Rubizi who played Colombo, fantastic. My highest of recommendations. Miles Teller is now up there. And I believe he was, yes, he was in Top Gun that new movie.

Right? I think he was. Freaking awesome. That's all I can say. Yeah, he was in Top Gun. It's on Paramount. I guess you can get a trial and then if you don't want it anymore. Great stuff.

And I don't know if they're going to do a second one on Godfather Part 2. Don't know. Okay, so where was I? In January 2000 of 21, the 30-year mortgage was 2.65%. In January of 21, the average home price was 401,000, 700. And of course, housing bubble. So, new home prices now are 546,800, up from 400,000. $40,700.

That's changing quickly, though. 30-year mortgage has gone from 2.65 to 5.65. What is this done between housing prices and mortgage rates? It's a 95% increase in the monthly payments. And what have we warned you about bubbles at the end? This. That does not include property taxes, insurance, utilities. repairs, remodeling, and those have all gone up in price.

What have we been telling you about housing? Look out. You know our prediction. We don't pull any punches. And now as we peruse many cities, I did a whole big thing on Phoenix Scottsdale last night, crapploads of inventory, days to sell everywhere,

is now shooting up. and many houses now are being marked down. Why does this worry me? Oh, it's simple. Number one, the wealth effect. You already have the 4-1K issues, and even though we've rallied up, but still, I think the NASDAQ is still down in the 20s,

where a lot of mutual funds are. So housing, wealth effect, that would not be good, because people have felt wealthy because of houses, but also I think it's a big number how much money's been taken out of the home equity. So imagine if you had a $750,000 home and it went up to a million. And you went to the bank and said, I want a home equity loan.

I'm worth a million bucks. Now I want an extra $250,000. It's terrific. What if that house goes from a million down to $800,000? It now turns into debt. Not debt representing market value. Excuse me, market value. Therein lies the worry.

We are letting you know here under no uncertain terms, a deep housing recession. Deep, this economy will not be able to take. Savings rates are already squashed, and credit card usage skyrocketing. So we're going to watch it closely for us, for you, and as we've been saying to you, very much becoming a buyer's market. And we think that's going to continue. the aftermarket again, Nvidia is now down four bucks. Real

crappy numbers. Snowflake is up $25 on another big loss. Entap is up a couple. Autodesk is up to $2.29 from $2.14, but Salesforce.com and the Dow has gone from 180 to

170. That will not look on on a resume. Splunk is down $6. Victoria's Secret is getting squashed for about 15%. And, And William Sonoma, down a buck. Again, nondescript day.

We'll know a lot more in the days ahead. Just know, a little bit of defensive here recently. You'll have a great evening drive carefully. Hope we didn't insult any of you. But we preach the truth here with no bias agenda or ulterior motive. We hate them all. Until tomorrow, have a great evening drive carefully. I'll be on with Varnie tomorrow, 9 a.m. Fox Business Network.

And right back here at the same time with this show. Staying one step ahead of the markets. Have a great one, everybody. Thanks to joining us. Stay well. Peace out. And when you get home, make sure you hug your children. Good night, all.

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. Today's episode was brought to you by Simple Mills, the feeling of the sun in a delicious snack. From their tasty crackers to their crunchy cookies. Simple mills snacks taste good and are good for you because they're made from purposefully chosen ingredients. That purpose? Lifting you up.

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