Investor's Edge with Gary Kaltbaum - THE WEEK IN REVIEW [08.23.2024]

Episode Date: August 23, 2024

https://garykaltbaum.com/

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while supplies last, loyalty program subject to terms and conditions. Visit the pro desk or Lose.com slash terms for more details. Subject to change. Investor's Edge with Gary Cultbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host.

A thanks of being with us today. Glad you here, ladies and gentlemen. Happy that you are listening. This is the air conditioner is broke in this office edition of Investors Edge. We have a big fan on, but I am sweating my, okay, whatever. And in case you don't know, this is serious talk about everything that affects you. We pull no punches. And ladies and gentlemen, warning shot, we'll pull no punches today.

We talk about the markets, the economy, who affects the markets and the economy. Your job, your industry, Washington, D.C. and the Morlocks. scams, shams, corruption. You name it, we cover it. And if you do not get this radio show in your city, we will post it at garyk.com and other podcast apps. We're working on a couple of things, by the way. We'll also post it on our Twitter feed, which is now X.

And if you don't follow us on X, you probably should. And if you'd like to email us, just be. nice we can completely disagree 100% but be respectful we will have respect for any and all except any of you that like Hamas by the way did you see it it doesn't matter where they are they just happen to be at the Democratic National Convention you have Americans I saw a man probably in his 70s white hair you would think If you went to any bowling alley, you would see this man. Yes, I'm generalizing here and stereotyping.

He's walking around with a poster saying, Praise Hamas, die Israel. You have gays walking around for Hamas being interviewed that Hamas will treat them better than Israel. And I'm thinking to myself, Do these people have a computer and go on Google? Or they're just heading their sand, head in the sand on purpose. What's the freaking deal?

That's just another point. Okay. So this is the week in review. And as you know, this week, this week, this week, 30 billion was added to our debt. I take it back. This week, Yeah, five days, 30 billion was added to our debt. In four days of the Democratic National Convention,

24 billion was added to our debt. Between the two conventions, I heard the word debt twice and just passed over. Why would that be? Well, these people know it's their mother's milk. We're the slush fund, and they don't give a flying crap about it. one's worse than the other. Trump was terrible. Biden even worse.

And leave no doubt Kamala Harris will take the championship belt from Biden. So let's talk about last night. As I promised, I watched the speech. And as you know, I don't give a crap about speeches. I can sit here and do a speech and lie to you, left and right. It doesn't matter what people say. What matters what people do. It's their actions.

And of course, as the President of United States, every action matters. In fact, every word matters. So, the speech. A smoking, loaded, smelly, full of crap made up who this woman's going to be. Now let me be clear. Notice I didn't say who she was. She started out talking about her past. I am not going to argue with anything about her past and their family and where she was born and all that fun stuff. I'm going to argue about what she has done in office and the hot smoking lies of last night. First off, there was no substance. There was no, we're going to fight crime and this is how.

we're going to do it. Oh, we're going to fight crime. For starters, she acted like she's new. She acted like and portrayed herself as the new kid in town. She did not portray herself as somebody that has been part of a one-two punch between Biden and herself that have allowed 10 million people to come through the border. With many being gotaways. You know what a gotaway is? They got away. Mayorkis, the Homeland Security, even

admitted they don't know where a bunch of them are and they don't know who they are. And had I don't know if you notice this. Mayorkas didn't speak and I didn't see him anywhere in the last week. I wonder why. But she told us she's going to do everything about the border even though

she didn't even try I can't even say she failed because they left the border open on purpose how do we know they rolled back on purpose and said they were proud to do it the tougher Trump regs on the border

there's a video of my orcas saying we were so proud of getting rid of the hundreds of regulations on the border. So 10 million, and they've admitted they don't know where they are. The cost of that 10 million is gargantuan. The border. We're starting with that because she said she will handle the border. Though she's been the border czar for three and a half years, Do not believe the scummy, sleazy, slimy,

media that say she wasn't. I have eyes, I have ears. I don't need anybody to tell me lies about any of that. She was the heading up of the border and was a miserable failure. She was the doctor you go to, I talk about it all the time, for a broken ride on,

and she puts a cast on your left arm, but I got news for you. With her, you went to visit the doctor and he was on the golf course. Or she. So the border, miserable failure, and did not cover the last three and a half years. That's number one. The cost on the border for many cities is gargantuan. And I'm sure you have been reading about illegals that have murdered and raped people that are here.

And I hear from some that say, well, it's not, I saw a politician come on the other day and say, oh, the percentage of Americans that commit crimes versus illegals, a lot higher. Screw you, pal. They're not supposed to be here. If they want to come here, come here legally. We'll glad to have every single one of them. We got no problem with people coming from other countries. we have a problem with 10 million coming across the border and we have no idea who the hell they are

and the cost to house them and feed them is taken away from homeless veterans. So the border, that's my phone. She mentioned debt once in passing. So I really can't do much with that except $2 trillion of debt a year. Going forward at least $2 trillion a year. the spending

astronomically going higher and she had the nerve to even mention the debt and I heard her blast Trump on the debt also which was quite interesting prices

I have eyes I have ears we're going to take prices down that's what she said we're going to get prices down well Gary asks back

where the hell were you the last three and a half years. Now again I don't blame them a hundred percent on the inflation. I give the minimum 75 percent to Jay Powell printing to nine trillion dollars. I give them 25 percent on ass a nine ass ten ass eleven spending of course they say it's other things up next we'll cover the spending and then the markets very Very good day. This is the one only Investor's Edge.

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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.

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 Spreker makes the whole process. simple. You record your show,

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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 you're listening to hey this promises to be fun investors edge the last bastion of quality programming with gary cult bomb it doesn't get better than this so the inflation we do believe the inflation was a lot of Powell and a bunch of Biden Harris based on massive debt and deficit spending

and $9 trillion of printed money. But they did nothing about it. And therein lies my point, because all of a sudden they're going to do something about it, and they're taking credit that the rate of inflation is down? Well, if they're taking credit for the rate of inflation down, they have to take the blame for what we're paying. You all know what you're paying for things.

And it's not just food. You know, those gougers, they said there wasn't any inflation. That's the first thing they told us. You have eyes and ears, right? The second thing they told us was it was transitory. Not till it was skyrocketed,

did an uh-oh moment. But now she tells us she's going to take down. Here's how she's going to take it down. She's going to take out a mallet and a machete and bang corporations on their head and cut them off at their knees with the bully pulpit. She's already making up lies, pure lie. Supermarkets are gouging? Really?

Show me one. Name one. Show me what they did. Show me all the gouging. Oh, and by the way, I'm no naive person. There are bad players out there in industries. We know that. But you know how life works in the markets?

If there are two stores and one store sells head and shoulders for seven bucks and the other one sells it for 11, everybody's going to the store for seven. You know why Amazon wins? I was in Office Depot. I had to get something. And I saw the Post-it notes and I looked them up on Amazon. They were 60% cheaper than getting them at Office Depot. That's how it works. You can't gouge.

And Office Depot gets to decide whether they want to sell it for cheaper. That's how it works. But when you have been wrong on everything, you blame everybody else. I heard Elizabeth Marxist fraud Warren was on CNBC this morning with a guy named Joe Kernan, and he ripped the stuffings out of her. made her look like the Marxist that she is. I watched a little bit of the video. He had a ling,

explained it to her, and he tried asking, who, who? She couldn't answer. There's your speech. A bunch of fantasy land. She could have been at Disney World in fantasy land about who she is.

There was nothing about our tax hikes. No mention. Oh, we're going to have unrealized capital gains and oh we're raising long-term capital gains ha ha ha ha you know what she said she's going to have a tax cut for a hundred million middle class yes sure right no mention of anything just forget that i've been here for three and a half years and of course the border as we circle back after three years joe biden saw that his poll numbers on the border in order of his poll numbers. Herpes,

jock itch, Joe Bind's immigration poll numbers. When he saw that, holy crap, all of a sudden he started talking about the border. And guess what he did? He actually, after telling us he can't do anything about it, you can't do executive orders on the border, he did. And you know what he did? He went back to the Trump regs on the border, and you know what happened? Less people came across the border, and now they are patting themselves on the back for the less people coming back on the border. It's amazing to watch. Even more amazing to watch, as we have said, the media.

Here were the comments last night. Iconic. I heard one adult say, you're going to remember where you were on this day. shut the hell up you in the tank hack it was 37 minutes of generalizations to have you forget that they have been in power for three and a half years and she's the new kid in town that's what it was she left out her laws in California that enabled shoplifters to go crazy she left out murderers getting out early that commit crimes again. That's all been left out. But the best news about having social media

is people post things, but you always got to verify. And frankly, I'm amazed at some of the stuff I'm finding out about how radical to the left she is. You know how we talk about Portland here and San Francisco and Oakland, and Washington, D.C. in some of these cities that just, who the hell knows what happened? Welcome to Harris Town!

Which leads me to late in the day, and we'll finish up with this. R.F.K. Robert F. Kennedy, whose family has denounced him. His whole family of elitist, inherited money, elitist, have denounce Robert Kennedy because he dare run as an independent. It's so funny to watch the tigers eat their young.

Now, I could take him or leave him. He does nothing for me. In fact, there's some crap, he says, that just take a hike. But the interesting thing is he dropped this presidential campaign, and he is now sided with Trump. and I was looking at the numbers and just remember in case you do not know this this is going to come down to

some people saying five or six states I say three and he may take votes and hand to Trump and let me just tell you in some states a hundred votes

may do the job now as you know I'm happy with neither I'm not happy with Trump it's chaos January 6th calling them hostages but this is binary

up next we'll put a bow tie on it and finish off with the markets lots of it this is the one only investor's edge guys it's no use putting it off the best time for an underwear refresh is now Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretched than competing

brands and their innovative horizontal quick-draw fly is a game changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com Code Comfort. Tommy John. Comfort perfected. 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 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 Spreker. 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.

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're talking.

tool. So I have no use for either, but it's binary. And you're damn sure I'm going to go with the person that wants to lower taxes and not raise them infinitum. Just for starters. Just for starters. I'm for the one that will do something about the border. Or at least try. Those are two big things for me. After that, I don't know what he's going to get done. because his tariff proposal sucks. He spent us into oblivion also. And again, you may not remember what I do. From Monday to Tuesday, I had this motto, don't blink.

But we cannot have, for the whole country, a San Francisco, Oakland, Portland, Washington, D.C., radical leftist, Massive tax, massive rules, regulations, fees, fines, mandates, giveaways, picking winners and losers, control, oversight, price controls. It's supposed to be we the people. And as I have said to you, and I mean it, I wish I was running. Because my motto would be simple. I'm going to keep taxes low. We're going to have rules and regulations, but they're not going to be onerous.

And I'm going to get the hell out of your way to flourish. We're going to sit down with the people that run public schools and show them the numbers. And then we're going to incentivize them to do better for the students. And if they didn't, they'd be out on their ass. By the way, that's another part. That's – and I'm not talking – They're great teachers out there. The system?

Well, you know what I'm talking about, right? And then I get the hell out of your way. And the bad players around the globe, they will know I'm around. That would be it. And try to get the Knicks and Mets to win a championship, of course. I would say the Giants, but they've won a few Super Bowls. Never satisfied, but they've won a few. Met's not since 86 and the

Nick since holy she 72 how can that be from New York amazing how hard is that and just get out of the way and government

would be on notice oh you got 2,000 people in that department and there's 700 that are overlaid see ya go into the private sector. That'd be for starters. What a concept, huh?

Efficient, effective government, slim down to meet your needs, and jobs getting done. They've been complaining to us for two, three decades about the grid and infrastructure. Oh, now they're doing it. We move on. The Fed.

Powell had his speech, and I'm actually surprised he, came out and said, yeah, it's time to change. We're changing. We're going to lower rates. We can now make a move. And the Dow is up 460. The NASDAQ 258. Nasdaq 100, 229, was down 33 yesterday. We had a bad day yesterday. Transports 253. Semis up 141. Advanced declines good, up down, volume good. Real good strength in regional banks. You know what that means. They had the small caps moving. IWM, Russell. Strength in the big banks. They were laboring a little bit, but today.

Best ones in financials, big. The relative strength, Black Rock, Goldman Sachs, JP Morgan. Blackstone's now coming on. Oh, Bank of New York also. Housing stocks. Not the most fabulous chart pattern in the history of time. And we made double digits in the last two years. just above 10% twice.

Owning the ETF. We think another move starting now. We'll see. It's V-shaped moved up. But when interest rates come down, that's what pretty much happens. And just overall strong day, they bounce the oils. They have been weak. They bounce the commodities.

They've been weak. They bounce the airlines. They have been weak. They bounced a lot of the transport names. They have been weak. They bounce the retail, which has some. strength and some weakness mixed bag. Strong day for the semis, though.

I'm agnostic on a lot of the semis right now. Of course, NVIDIA reports coming up this week, and I saw somebody say, oh boy, oh boy. And I saw somebody else say the amount of money that's going to be spent on AI, just look to NVIDIA. Okay, I do not own NVIDIA right now. We owned it most of the year. I think we bought it three times, first time 70%.

Second time, we're up 20. Third time we took a little loss. And in between we bought and made nothing. And it's V-shaped move up off of the low as of a couple of weeks ago on that. Wicked Monday, we don't own it right now. If I was able to peg it on this V-shape, Would I want to own it into earnings only if I had some decent cushion? The biggest worry with it is expectations are very high, but I'm pretty sure numbers are big.

The other worry, just so you know, the CEO is just selling crap loads of stock, though he does have crap loads of stock. So that's going to be important coming this week, and it's not a big earnings week. I'm noticing Abercrombian Fitch, Coles, Best Buy, Birkenstock, Burlington, Bally's Bargham, Lulu Lemon, Alta Salon, so some retail. You got that crowd strike. I want to hear what they have to say after the stock crashed on what happened.

And video, which will be Wednesday after the close, Salesforce.com, that's in the Dow, big software name. Dell. That's about it. Probably missed a few. But very good day, which takes me to my next point. The S&P 500. is kind of like a stones throw away from the highs after getting trashed.

You know what new highs usually do? Just letting you know. Usually begets new highs. Just letting you know. And of course the S&P 500 is made up of this, that, and the other thing. But I think seven stocks are 30%. One of them's Apple, which is V-shaped nicely up. Another one's Nvidia.

will know, but also you have a big amount of the financials in these other areas that may be coming on. Economically sensitive stocks today, good day. How can that be when the economy stinks? At least that's what we hear a lot of. Well, if interest rates come down, that's how the market works. Now, I've also received emails from people that say, once they cut, the market's going to go into a bare market. So you know what I'm going to do tomorrow morning? I'm going to go back and

see every time the Fed started cutting Fed funds rates, what did the market do? I've been told there have been certain times where that's where the market's top. Well, we'll let the market decide on whether they'll top or not. But all we can tell you, we finished up well after a real crappy day yesterday. A real crappy day. Gold bounced today after a not-so-great-great-day yesterday. And, you know, flip-flop from yesterday. On J. Powell. He took credit today. I wanted to throw a dart through the TV.

Acted like God again. Oh, yeah, look what we did with the economy. Yeah, it has nothing to do with us. It's all him. Sits at a desk at the Eccles building, pressing buttons and sitting around. Again, nothing personal, but on a professional note, I hate these people. No, I don't hate anything. I very much dislike them.

Very much. Up next. What else I got? This is the one and only investors' edge. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands.

And their innovative horizontal quick-draw fly is a game changer. With over 30 million pairs sold, there are thousands. of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25% off your first order with Code Comfort. That's Tommyjohn.com code comfort. Tommy John, comfort perfected. 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. 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 cousins 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. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it.

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 Culpa. You know what I have to do also this weekend.

I have got to go visit a Kava restaurant. There's one right here where I live. they bought out something called a Zoe's Kitchen I say that because the stock was up $20 today to $122, 35% revenue growth, big earnings growth,

new high, I want to know what the hell's going on there. Never been to one. So that's my other thing I'm going to be doing this weekend. And I'm relaxing. I'm working on getting, and I got to tell you,

it's not easy. By the way, for all you out there with elderly parents getting a full-time living, not the easiest thing to do. Do you know why? Once you put it out there that you need somebody, a lot of people come out you and then you got to figure out who and what, and boy, does it cost a bunch. And I don't mind paying it. My parents live just on the other side of New York City, and we're working on it feverishly now. And I keep... I don't know if this makes any sense. I'm so happy that they have lived to 92 and 91. My father's going to be 93 in October.

Amazing. Way past the average lifespan. But on the second part of that, I hate how they're living now. You know what I'm talking about. A lot of you have gone through it because I'm getting a lot of emails from you. It's tough. It takes a toll. When you see your parents and you can tell, just how frustrated that they are, that they have so much less ability to take care of themselves. And their recognition that it's not getting any better, it only gets tougher. And we're doing our best. You know, we're all going through it as it's a new thing for us. You know, sometimes you don't know how to act or what to say.

how to say it. So you kind of say less and just be there. I'm hoping within the next week I have somebody that's full time that I'll tell you. Because I know what happens when you put them into nursing homes. And you don't get the total attention in the nursing homes that you would get in your own place with somebody that's there 24-7. that's what I'm learning right now

while I watch the market a couple other notes let's segue a little back I'm just mentioning Occidental Petroleum to each and every one of you that's Buffett's oil stock he owns I think 30% of the company now and it's really done terribly since

April not terribly 70 down to 10 but 71 down to 57 and he keeps buying him, I just want to make note of that. I don't own any, and I don't buy in downtrends and things that are in bearish phases,

but I have a note just, I follow it no matter what, keep it on your watch. I think if oils ever get into a bull market, I'd like to own something that Buffett owns. I still remember it was 15 or 16 when he bought Apple and people were laughing them because Apple was in a bare market, and I think it's up like 10fold cents.

I love when people laugh at billionaires. It's so much fun to watch. I also want to mention symbol UBXG. It's a $5 IPO. China. It was $5 about 10 days ago. Two days ago, it was $34. Five to $34.

Today was down $29.55 to $2.35.35. And as you know, I'm telling you, it doesn't have a lot of sales, loses money, all that, and who knows why these things go up, and there's been a few before. I just want to mention it. Just be careful. I've seen, you know, the GameStop thing with that roaring kitty jackass. I can't begin to tell you how many inquiries I had in a two-day period. Should I buy some GameStop? Because this jackass put up a cartoon picture and people followed them.

And now it's back to where the scene of the crime in price. So I just wanted to mention that. Be careful. I also want to mention the media. New York Times headline. And this is what we want. You to be careful about going into the election. This is New York Times.

Why Harris's centrism is working. They're calling Kamala Harris a centrist. They're lying. They know they're lying. They know many of us know they're lying, but they also know many people will believe it because they're in New York Times. We just want you to remember that. You can't be any more left unless you go into Maduro country of Venezuela

than somebody like Biden and Harris, on debt, deficit, rules, regulations, fees, fines, mandates, taxes, giveaways, and the like. But the New York Times, just letting you know why Harris's centristism is working. They're fuller. I'd like to use the word, but I can't. Just let you know. Why is Walmart so smart? They're offering cheap Burger King as it wants to chase Amazon Prime.

Did you check this out? you get a burger every quarter if you're part of Walmart and you get 25% discounts. This is what I'm talking about smart people. That's how you attract people. And I just noticed, and I was thinking about it today because it's really not the biggest news of all time. But I thought that stuck out. Interesting. No wonder it's in an all-time high.

All right, we're done with no air conditioning. But we made it. You have a great weekend. We'll have a couple of webcasts this weekend for our peeps. 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. Take care of your parents, ladies and gentlemen, also. Before they get too old. Peace out, all. Thanks for joining. Really appreciate you being here.

This has been Investors Edge with Gary Cultbaum on BizTalk. To listen to past episodes or to get in contact with Gary, Go to GaryK.com. That's GaryK.com. Guys, it's no use putting it off. The best time for an underwear refresh is now. Tommy John underwear is designed for a perfect fit that stays put all day. Their zero-chafe thanks to four times more stretch than competing brands,

and their innovative horizontal quick-draw-fly is a game-changer. With over 30 million pairs sold, there are thousands of men out there more comfortable than you. Don't settle for less. Go to Tommyjohn.com today for 25.5.5.5.5. percent off your first order with code comfort. That's Tommyjohn.com code comfort. Tommy John, comfort perfected. 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 Capital1.com for details.