Investor's Edge with Gary Kaltbaum - Yellen's $78 trillion nightmare [07.29.2024]
Episode Date: July 29, 2024https://garykaltbaum.com/...
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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 Colbom, your host.
A thanks for being with us today.
Glad you're here, ladies and gentlemen.
Happy that you are listening.
It's Monday.
It's July 29th.
It's 2024.
We certainly hope you all had a good weekend in case you don't know.
This is serious talk on everything that affects you.
We used to do markets, markets, markets.
And then in the early 2000s, we noticed that the Morlocks starting to get in our face more and more every day with debt and deficits and rules and regulations and fees and fines and mandates and giveaways and all kinds of control.
control freakism, so we include them now more than ever, leading us to how we're going to start
the show today, because in the past, the control freaks would at least lie about it and hide it.
They don't anymore because they think they're better than you.
We'll get to that in a second.
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, which is now X.
And if you'd like to email us, go ahead at GaryKK.com or GKalbom and callupam.com.
And you can follow us on X.
Just put our name in.
So every now and then, we'll get an email.
Gary, talk more about the markets.
What you're talking about has nothing to do with blankety, blankety blank.
And we're trying to tell you everything we talk about has every single.
thing to do with that blankety blank blank.
When Joe Biden forgives somebody's student loan, that's our money.
They have perfected, they have perfected the con.
They have perfected that the slush fund is so damn big that I still remember Neil Cavuto,
the great Neil Cavuto, the inspiring Neil Cavuto, the best journalist on earth.
upon 08 when we didn't give them we were forced to give them $800 billion to take care of the crooks at the banks because they were destroying the financial system with their fraud he said to me on TV you know trillion's going to be the new normal well he was right they talk trillions like it's a couple of
belly beans. A hundred billion is nothing. It's no big deal. They've created that to where
we're deficits are two trillion a year now. And of course, the media say nothing. And of course,
none of them could last one minute with me in an interview. Well, as I stated for the record,
they don't even give a crap anymore. They'll just say anything, propose anything. No number is too high
And you must remember something.
Every dollar they spend is our dollars.
They don't produce any profits.
You got that?
And I'm talking to all of you that somehow I don't understand.
I don't understand the love of a certain ilk in D.C.
And I've never understood, oh, it's a D.
I'm just voting D, no matter if they suck or not.
Oh, it's an R. I'm just voting R, whether they suck or not.
Which takes me to one of the worst schnooks.
And I don't even know what the word schnook means.
But it's certainly not me complimenting that person.
It means a fool.
But this person's no fool.
Because in her time, she became a sense.
central banker, the head of the central bank. She is now our treasury secretary that is supposed to be
the defender of our treasure. Her name is Janet Yellen, and may I state up front, anything I say
is nothing personal. It's purely business. I'd say it all to her face. She's calling for
$78 trillion in financing to $5 trillion.
climate change through the year 2050 let me repeat that seventy eight trillion dollars
three trillion dollars a year to fight climate change through the year two thousand and fifty
now who seventy eight trillion dollars is that oh it's ours to fight climate change
Hmm. What for? What is it going to accomplish? You're going to stop the hurricanes? You can't. You're going to stop the tornadoes? You can't. You're going to stop the heat in the summer? You can't. Can you stop the cold in the winter? You can't? Can you stop fires in California? Well, you could if you stop restricting water. $78 trillion. In order to achieve net zero global carbon emissions, three trillion globally in annual five.
financing for the cause, which she says is a top priority for the Biden administration.
Well, there is no Biden administration anymore.
Three trillion a new capital.
So it was interesting.
She did the interview.
And what the interesting part about it is, you sit there and you think the journalist would do the job.
And ask the very simple question, easy question.
What are you going to spend it on?
Give me one thing you're going to spend it on.
Tell me.
They couldn't answer the question.
And the bottom line is these interviews are set up to where they don't ask the questions.
The next question would be, and who's going to pay for it?
And the next question should be, so what exactly is that going to accomplish?
How is it going to change the climate to make it cooler?
Explain.
Simple questions, right?
Right?
Easy questions.
And I'm thinking to myself three trillion a year.
Three trillion.
Huh.
Imagine if we actually had that money and put it to good use.
Any of you have any potholes in the sidewalks or in the streets where you live?
Any of you have bridges that have been there since 1920 that maybe will need a new bridge?
Any of you have any homeless in your city, homeless veterans that fought the wars and defended our freedoms and they're living outside?
Any of you have that going on in your city?
No, let's fight climate, which is a hoax, of course.
You can't change the weather.
Superman could, but last I look, Superman is just a character.
We can't change the weather.
She should be fired.
And I must tell you, if I was president,
I would publicly acknowledge her Marxist, socialist, control freakism.
The defender of our treasury,
78 trillion, to fight a battle that does not need fighting.
You want to clean up the pollution?
Go ahead.
clean it up.
Business and believe it or not, a little bit of government have done a good job.
Remember the smog they had in L.A. many years ago?
You know, there's companies out there that are mining the oceans, getting rid of plastics left and right.
You know that, right?
Green, we've been going green for a long time.
Electric vehicles, well, they're out there.
Of course, a lot of people don't want them.
so let me explain
these people are legalized
crux
you see we can't say they're
just crooks
because that wouldn't mean they're doing something illegal
I have to say legalize
because they are
in power in D.C.
But they're schnucks
and they're control freaks
and we've got to make sure
they're all out of power
and get people in there that believe in we the people.
That government is fine, make sure it's good government,
efficient and effective government.
We'll put a bow tie on this up next.
And then lots to cover.
I'm Gary.
This is the one only Investor's Edge.
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It doesn't get better than this.
So Janet Yellen said climate change is literally an existential threat to our nation into the world.
No Janet Yellen and her ilk are an existential threat to our nation and to the world because they will bankrupt the living crap out of us and use lies and cons to extract our hard-earned dollars that we go to work for.
for every day. See, Janet Yellen has been in the public sector a whole life, and when she left,
she was getting a quarter million dollars for speeches from Wall Street. Remember what we tell you
about the incestuous relationship between Wall Street and D.C.? They kiss each other's arse because
they know they need to curry favor with one another depending on which way they are going.
she doesn't give a crap about the climate
she cares about extracting money out of us
just like Marx's do
and they make things up to suit themselves
the nerve of them
go on video and look up about 18 years ago
when that preeminent scientist Al Gore
said we had 10 years
imagine
The media kissing the butt of a person who says we have 10 years or else,
even though the earth is 4.5 billion years old.
And they let him get away with it, and he's worth hundreds of millions of dollars now off of it.
I guess he's a smart guy.
And then the celebrities that'll stand up.
What's this guy?
Prince Harry.
The newest one, who lives in like a 33,
square foot house, how much electricity does that use and tells us how much we have to conserve?
Or other celebrities that go on to their yachts using a private jet or the ass clowns at Davos
where 500 private jets were parked to meet so they can sit around telling each other and talking to us that we need to conserve.
Up yours.
And now Janet Yellen with no shame.
I just got to hand it to her.
At least she doesn't lie like others.
She actually says,
I want to give you a financial colonoscopy 24-7
until your wealth is destroyed
and our power is solidified in order to fix the climate.
Do you know for seven years we didn't have hurricanes in Florida?
They said it was climate change.
When we had hurricanes, they said it was climate change.
Before that it was global warming and then it froze for a couple of years.
So they had to change the moniker to climate change and never be wrong.
Before global warming, it was global cooling.
Go look it up.
They told us we're going to have an ice age.
And if you disagreed with them, we're idiots.
78 trillion.
She has the grapefruits to even mention that number.
I got to hand it to her.
Three trillion a year extracted from the people.
Not from her.
These con artists that have put themselves in this leadership position
and have been elected over and over and selected over and over,
and they never leave the freaking stage until they're dead,
and in their wake they leave us with now 35 trillion of debt,
headed, they're now telling us 60, which means 80,
and they don't give a crap.
And somehow, and I don't get it,
this pliant, sycophantic,
insane media that kisses the arse of this side. They take sides. The side of proposals where they want to take
long-term capital gains from 20 to 45 percent so that would disincentivize your holding of assets.
They want unrealized capital gains tax.
If you don't sell, you still got to pay a tax, which means you may be forced to sell.
On top of all this, they're morons.
Wealth taxes.
You work your tail off your whole life.
You pay local, federal, state tax.
If you die, you pay a death tax.
And now they want wealth taxes.
They hate you.
You're a means to the ends.
They're power base.
$3 trillion a year for climate
On top of everything else
They're doing
They're thugs
They're thugs
The difference between them and bank robbers
Is they don't walk into a bank
They own the banks
They regulate the banks
They don't need a gun to go into the banks
They set legislation
to do one thing, come after you.
And for some reason, I don't get it.
Nobody wants to do the homework of what they are actually doing
because, as I have stated to you,
they couldn't get away with it if we actually felt it immediately.
I've said this a hundred times to you already.
If you went to your bank online today and there was a $300 debit and said for student loans
and you called the bank and they said to you, well, it's for Biden relieving student loans,
he couldn't do it.
But that's exactly what they're doing through a slush fund and through debt.
That they have con artist economists actually saying is okay.
They got this New York Times year.
Uts economists that say
debt's okay. Oh, of course
when one side is in power,
when the other side is in power,
debt's not so good.
It's the greatest
con game of all time. The greatest
bull market in history
are these people.
And some of these
elected officials making
$180,000 a year end up being worth
$50 million bucks over 20 years
and nobody asks why.
You have ill
and Omar having her campaign pay her husband's business $3 million, and they tell you that's
not a crime. They tell you that's not even ethically challenged. I rest my case. Serenity now.
Markets next. And I'll probably be whining about something else. I'm Gary. This is the one
the 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. There's
Zero-chafe thanks to four times more stretch than competing brands,
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Don't settle for less.
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The Capital One Venture X card.
What's in your wallet?
Terms apply, lounge access is subject to change.
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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,
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We're listening to America is talking.
Investor's 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.
If somebody played for Janet Yellen and their nink her nink-a-poop friends, the first two segments of this show, she could not defend herself.
Now we move on.
Quiet market today.
Dow was down 50.
The S&P was up four.
NASDAQ up 12.
NASDAQ 100 up 35, but they opened things hot again.
I think the NASDAQ was up 175 or something like.
that then it was down and let me just state for the record I want you to listen carefully a few
tidbits hope you don't mind as you know we love growth stocks we love technology stocks we
love growth retail things like that we're always looking for evidence of what to do
or what not to do and as we have told you and we're very careful what we tell you here
because we want to make sure we're full and fair with disclosure and we also want to be fair
about it's very tough for us knowing people don't listen every day about oh if we bought something
on Monday, seldom on Tuesday which we could but what we try to do is guide you through what
we think you should avoid and not avoid and give you evidence to back that up and we think
we've done a pretty good job. So as you know, we had stated for the record on July 11th,
we sold down most of our technology stocks. And that's all we were in. That day we sold our
meta, Microsoft, I think Nvidia that day or around there. That was the day it topped.
The next Wednesday we sold Apple and Amazon. Apple was still
holding up great. Amazon had broke out and we just waited to fail and it did. And that left us
with no technology. And every day we're looking for evidence. We're looking for evidence that
the worst may be over. First off, let me state for the record typically when something like that
goes into correction, the correction doesn't usually last from the 11th to whatever the date is
today, the 29th. It usually lasts longer. And very often you'll see three legs to the downside.
But we're in earning season, anything's possible. And I can tell you four stocks this week.
Amazon, Apple, Facebook, and Microsoft report, besides others, those four are 20% of the S&P 500,
which is insane. Just four stocks is 20%. And there are also a lot of the NASDA.
Act 100. So what we do every day, we know with the scan, and we know where to scan, and we
assume we know what an up trend and a downtrend look like, and assume we have a decent feel
of the market having defense. And what do we mean by defense? Well, they stop going down.
Duh, it really is as simple as that. You find an area where the stock says enough, and it's,
and it defends there over a period of time. And then there's other things.
things that can occur, and that is their leadership in the group, are there breakouts to the
upside in the group, or something like a service now. Now, you may have not heard of this company,
but it is a software company, cloud-based, and it's been a wacky stock.
It has made 20% moves up and down, boom, boom, boom, boom,
until Thursday of last week when they reported earnings.
And their earnings are pretty decent.
I've never complained about their earnings, just the trade's crazy.
And on Thursday, well, it closed the day before, get this, at 731,
hit a high the next day of 8.50, and closed at 8.30.
$97,
volume heavy,
good stuff.
We're always looking for
strong reactions to earnings.
In a real good
bullish phase
of a service now doing that,
number one, we know by
evidence and study and precedent,
it would usually take other stocks
along with it, and it kind of
sort of hasn't.
But more interesting to me is
I saw some people I know
no buying it. And I'm trying to impress upon them. You probably want to be patient because
in case you don't know, we believe 80% of a stock's move is because of the sector. If the
sector is not working, it's probably going to be lame or it's going to take time. Service now
today, it's down $28 today, with an up NASDAQ today. So what we have already is some
evidence, just some evidence, that maybe technology still ain't ready. And we also know what
good setups look like. You remember January 8th of Nvidia? That's when we, the day before on a
Friday, we said, boy, this looks about ready. And if it breaks out, that'll be a five-month breakout
and a five-month breakout in the number one stock in the market, probably going to be strong and
went up 90%. So the opposite with service now, down 28 today.
and we'll keep paying attention, and there'll be more reports,
and what we're going to do is very simple.
How are the reactions?
Were they strong reactions immediately sold off?
Were their weak reactions bought up?
Were the reactions big breakouts on volume?
Was it the opposite on volume?
And we'll know.
All I know is today.
They opened technology hot, couldn't keep it going,
saw a bunch of reversals to the downside, saw some important
semiconductor stocks act like crap, and then Service Now, which, dang, that was a strong move Thursday,
give the market a little bit of a certain finger today, and we'll see if tomorrow's a better day.
But I use that today as evidence for me. I'm in the right by being patient when a very strong reaction.
And by the way, it's an institutionally favorite stock in the past.
But when it does that, it just gives me a little bit of a clue that we'll hang, we'll wait, and see what comes next.
And we'll take our time.
So we'll just give you an idea of a little bit of how we go about things, our thinking, and maybe it's up 30 bucks tomorrow.
I don't know.
Who knows?
Maybe it is.
We can only deal with the evidence at hand and what the evidence gives us in real time, not tomorrow.
and you add up the fact that today, just some crappy action and other big names that we follow,
all trading below the 50-day moving average, all have pretty crappy volume patterns,
meaning down on heavy volume, up on higher volume.
So we're patient.
So just to give you an idea, the in-depth stuff we go into, and nothing is ever foolproof,
but it just gives us a little bit of an edge
and sometimes of a big edge
and we'll see what tomorrow brings.
Again, another big earnings week
as we said, four stocks,
the 20% of the S&P,
and I'm pretty sure they're like 28%
of the NASDAQ 100.
And then we'll get reactions like McDonald's.
They miss by 10 cents,
but the stock was up.
Do you know why?
Because the stock has crashed over the last year.
That's six months.
So I just think it's a balance.
And you know what they actually said?
Well, kind of sort of forward our numbers are better because we're charging more.
But wait a minute.
Aren't you?
Didn't you do the $5?
Oh, but on the other end we're doing the $5 meal.
And that's attracted people.
Whatever.
All I know is it was up nine bucks today.
Help the Dow a little bit.
Nine times about 50 Dow points, something in there.
But in a big down trend and we'll avoid it.
Help the restaurant stocks today.
They were all green today.
But most of them have been toast over the last few weeks.
And again, as we go through the earnings this week, just a ton.
In the Dow, Procter & Gamble, Microsoft, how about an AMD, a Landstar in the transports,
Starbucks, which has been having lots of trouble, Boeing in the Dow, you know about their trouble,
Garmin, Generac, you know what they do, right, if you have hurricanes.
Marriott and the hotel's arm holdings, an important semiconductor, which, by the way,
broke the 50 data to the downside today on volume, Lamb Research, Facebook,
I don't know why they changed their name to meta.
eBay, Qualcomm, MasterCard,
Alibaba.
Love that name.
What a great name.
Regeneron Pharmaceuticals square.
Apple and Amazon will be Thursday after the close.
That'll be interesting.
Draft Kings and
Up next.
Trump.
Bitcoin.
What was his mistake?
This is the one only investor's edge.
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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 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.
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.
In the bestor's edge with Gary Kaltba.
In the big news, first off, let me state for the record.
The media is doing exactly what I told you they would do.
They are lying, deceiving, blacking out, covering up anything dumb, stupid, crappy on one side of the aisle running for president.
it's almost a comedy act at this point.
You have social media.
If you put in certain words on social media, they don't show up anymore.
Like Donald Trump assassination attempt doesn't even show up.
And for the record, I'm no fan of either.
But since the media is doing the job on him, I don't really have nothing to add.
So the fix is in.
They're going to do their darnedest.
They are raising her up, even though she couldn't get 1% in the primary.
They are covering up for her.
Oh, she was not the Bordersar.
My arse, she wasn't the Borders are.
Just amazing to watch.
The record of her, Pete Buttigieg was out this weekend, and he's pretty funny.
Stand-up comedy has nothing on him.
And then there's Trump.
Mistake.
mistake. So we all love being popular, right? We all love feeling important, right? You know what I taught
my kids, one of the ten things I taught them, make everyone feel important, whether they're
the janitor of the building or the CEO of the building. I taught them that. Treat everybody
as they're important. Also, people love hearing their name. Call them. Call them.
them by their name. Waders and waitresses, their name. People love hearing their name. I don't know
if you know that. Everybody wants to feel important. And man, what a great thing to be a Donald Trump
that was invited to the Bitcoin conference in front of, I think, thousands of people
that are so happy with him because he is engaged in the Bitcoin and the crypto thing.
My commentary is not on Bitcoin.
My commentary is on Trump and just a huge mistake.
Imagine if I'm doing a little seminar or something and a lot of people show up.
You know, for me, eight people's a lot.
And I say, beyond meets going to the moon.
Or Home Depot is going to the moon.
Or first solar is going to the moon.
Or gold is going to the moon.
Which, by the way, I just stopped out of what a small loss.
What if I did that and they dropped 50%?
You think I'd be popular?
Doubt it.
People care about their wallets.
They care about their money.
And I'm pretty darn sure President Trump,
and I guess we call exes presidents, right?
President Trump meant well.
I'm 100% sure.
You see, when I buy a stock,
I'm betting it's going higher.
I mean well.
I mean well.
I want it to work out.
So no doubt,
my mind, he had nothing but the best intention. But he went in front of everybody and I'm no
Donald Trump. So when I talk to you, or if I have an audience, this is not being presented on
every news channel or every newspaper around the globe. What Donald Trump says is in every
newspaper around the globe. And due to this crypto thing is a big thing around the globe, he is
now on record that Bitcoin's going to the moon. What if Bitcoin drops 80% like it did in the last
bare market from here? Anybody want to answer that question? What happens to Trump's popularity?
You think it goes up or goes down? What happens to Trump voters? Let's just say for the record,
Bitcoin drops 25% before the election.
What do you think?
Think you'll lose some voters?
You know, people do vote with their wallets.
And due to the fact Bitcoin has no earnings and no sales, we know that.
And it's just an inanimate object.
What is it?
It's an asset class now.
That's all it is.
And they're telling us it's based on, well, there's no trust in government.
Okay.
I'm certainly on with that
and that people maybe not
have trust in the dollar so they want to go elsewhere
there's a possibility there
and maybe it goes to a million a half like that
what's her face
that's down 70% over the last three and a half years
and still gets interviewed
maybe it does that
but everything we do here
is based on airing on the side of caution
yet President Trump went out and said
is going to the moon. If I was advisor, you know what I tell him, right? Shut up. Do not say it's
going to the moon. Say you hope it goes to the moon. You say it could, hopefully it goes higher
because of. He's now on record, on an inanimate object. And in case you do not know,
in case you do not know, from November of 21, down to November,
November of 22, the GBT that represents Bitcoin went from 55 down to $7.5.
My one wish I've said to you before, if Trump wins, that he has good policies and, more importantly, discipline, a clear lack of discipline in stating Bitcoin's gone to the moon.
I hope he's right. And I mean that. I hope he's right. You all have a great evening drive.
carefully. Say hello to Janet
Yellen, if you see her.
And when you get home, do like we do. Quite simple.
Make sure you hug your family. Make sure you hug your children.
They will feel better. You will feel better. I promise.
Have a great one, everybody. Thanks for joining.
Serenity now. Same time tomorrow.
Peace out.
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.
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