Investor's Edge with Gary Kaltbaum - Yields Keep Soaring.

Episode Date: September 26, 2022

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

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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 day. Thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening. It's Monday. It's September 26th.

It's 2022. This remains the most important hour of your day each and every day. And we are not blowing smoke. Asset prices around the globe are getting smoked. We nailed it for you from the get-go. Last February of 21 with the bubbles. November for the growth stocks. The rest of the market in January.

All you had to do is listen. The only thing we've had is a few counter-trend rallies, which we called, never said new bull market or bare market low. And it's just getting uglier by the day. All our worries have come to fruition. We told you two, two and a half years ago, our worries, starting with one name, Jay Powell, playing God with markets. Our main quotes were, we can only imagine the outcome of all the distortions this man is doing. And then when he did it up to the $9 trillion printing, along with everybody else, that's when we started really rolling at you, really coming at you, telling you like it is.

and we hope you listen. We're getting a lot of emails from a lot of you. Thanking us, you are welcome. We will continue to work our tail off. Why? Because out of bare markets become great bull markets and the first names breaking out are usually gargantuan movers

and we will work our tail off. We can never guarantee in my industry. The word guarantee, no go. But we are going to put our best foot forward. We're going to work double time. If we have to be up until four in the morning, We're going to find the great leaders going forward. All we've been doing is spending our time these days studying the past winters coming out of every bare market.

We are going to do it for us, our money, our clients, and for you. So keep listening. We are dead serious about this. And every dime you have, whether you are or not. And today, another miserable day. But first, a couple of things. for those that are in the crosshairs of Hurricane Ian, don't screw with it.

As you know, I am a veteran of the Hurricane Wars living in Miami and Boca Raton for many years. My first week I ever lived in North Miami Beach, Florida, I got hit by a tornado. Anyway, we're veterans of hurricanes. We know how bad they can be. We've been in central Florida for the last 20 years. There was one year we got hit by three of them,

And I can tell you, listen carefully, you may think it's staying away from you. There was one hurricane. I don't even know what it was. It was going straight north up towards Louisiana and out of nowhere made a sharp right turn right into Tampa and right into Central Florida and kicked our asses. So don't screw with it. Air on the side of caution. Prepare as of right now. And just so you know, the best place to look for it.

is you go to the NOAA hurricane center. It's NHC.noha.org. And what I do is I go to something called the cone. It gives you the cone to where, and it can change, and it goes every three hours, it gives you the cone through. It also tells you how fast it's moving, sustain wins.

It also tells you, the good news for this one It looks like it's going to go from a four to three to a two by the time it hits landfall, but that's not baked in the cake. And as of right now, landfall would be north of Tampa and skirt the coast and go into Georgia. That's as of now, but it's going to be throughout the panhandle all the way to the east coast, from let's call it Melbourne all the way up the east coast into Georgia. and there's going to be some serious wind damage. Don't screw with it.

Next. My beloved dog, Winston, had a surgery today. As you know, they found cancer. He's 10 years old. In case you don't know, my son, Aaron, he was at Florida State University and was a rescue dog. And even though he knew he was moving to New York City, he picked up Winston. and came down there and dropped them on our doorstep, and we couldn't be happier.

One of the great genius dogs of all time, and they got the cancer out, and most importantly, they say it has definitely not spread. He's under observation tonight at the place. We'll have him tomorrow, but looks pretty good, and it was small. So it looks like they got this bad boy early. That is for my dog, Winston.

And we don't know why he was named Winston, but we said it's because of Winston Church. So that's all. And we left it at that. So those are the two important newses. Newses. Yes, well done, Gary. Newses of the day. Today.

I have nothing good to tell you on the market front. You know what the worst market is? The one that's already down a ton. And we call it stretch. extended, oversold from the norm. The one where we tell you, man, bearishness is really picked up. And when we tell you bearishness, there are indicators out there that really show how bearish the masses are versus bullish. And it's been bright red, but what have we told you? Sentiment is a secondary indicator. It's not primary. We follow price first.

And frankly, we know the sentiment numbers, but we couldn't care less about them. And we've also told you that sentiment works different than in bull and bare markets. In bull markets, it stops corrections and gets things off to the races again. In bare markets, it stops the bleeding, rallies things up before it crushes the market again. And I can tell you coming into today, after what I was told on Friday that we had the most put volume. You know what a put is? It's an option betting on the downside. The most put volume in history on Friday, I got Newsfea.

didn't help today. Market again got trashed today. And there's a simple reason why today. You know what that is, right? What we've been telling you? Our worries, our warnings. If your cost of everything goes up, you're always going to have less of what you have.

And it will change your psyche. And maybe your spending habits. And maybe your thought process. process. And if this is endemic to the whole economy, what do you think happens then? Well, you get earnings like you got from Target and earnings like you got from FedEx. Pretty much yelling and screaming at you that we have a real economic problem on our hands. Screw what the Fed says. They're a bunch of morons. And screw what the administration says. They're a bunch of liars. Man, they're big liars. Man, oh man. We thought we had it bad with the last guy. They're running records. And what we'll do today is tell you, the outcome of all our warnings continues

that they distorted all price, all yields. The biggest distortions were in the bond markets that continues on a daily basis to shoot the middle finger at J-Pow and the rest of the central banks. And in a big way, and in a bigger way today, What do we mean by that? Yields.

The real world skyrocketed again today. Cost of capital skyrocketed again today. And if the cost of capital keeps going up, what does it mean for profits of companies and businesses? Goes down. What do stocks usually do when not just perception, but the reality that earnings are going to be lower than expected? It goes down.

1 plus 1 equals 2, ladies and gentlemen. In spite of the doofuses that are paraded all over the place telling you out, don't worry, everything's okay. It'll come back. Well, it didn't come back today. And lastly, before we get into the market wrap, the Giants are on Monday night football tonight against the Cowboys, and man, I hope they ripped the shreds out of the Cowboys tonight.

The Giants would be 3-0 if they win. You know what they're doing? in the giant stadium meadowlands they're white outing everybody's going to be wearing white and they're going to go nuts the crowd's going to be insane tonight insane so i'm looking forward to that anyway and do not forget the left is cursing out the right the right is cursing out the left but they're all shooting the middle finger at us in front of the camera they hate each other in the back rooms they're like hey what's happening bro 31 trillion of that ass grew the citizens.

Hey, up next, full market wrap, it's not going to be good. I'm Gary. This is the one only Investors 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,

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That's 888-4-22. 5559. That's 888-422-5-5-9. Investment advisory services offered through call bomb capital management. 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? Yeah. 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. Success starts with your drive and American Public University

is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh,

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You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. So we have warned you. And we may, I was thinking about it this weekend, do like a YouTube, two or three hour

tutorial on everything we saw starting with Christmas of 18 when we started warning you about this nut job J Powell and by the way we don't like using the terminology nut job but when he is destroying your wealth your jobs you're purchasing power what other words am I going to use he played God with us and he is fail miserably and somehow still has the freaking job. And I didn't watch his press conference last week because I had thrown up, but I watched some outtakes. You would have thought the guy was on a valium. Well, you know, we think that, you know, kind of disorder and, you know, and we'll probably, you know, think in this in the year 2023 and 2024, we see this and we see this and we see that

and we see the other thing. And, you know, kind of like you know. And I'm going to go home, see my wife. We're going to watch the Golden Girls. And then we're going to go get the 5 p.m. early bird at the Golden Corral Buffet. And we're going to go to sleep at 7.30. Anyway, not funny. So why are the markets continually under pressure?

Well, number one. Number one, the 10-year yield from last November has gone from 1.343 to a close today at 3.878. Now, is that real bad, Gary, we're still at three. It's remember, listen carefully, because nobody says this but I. it's what every asset price, every economic statistic, every data point, every decision made by every consumer was based on rigged and manipulated interest rates that drive the bus so much. Mortgage rates were 26 and now 6.5. And today the 10-year yield went up a whopping 181, went from 30. 3.697 to 3.878. You know what that means? Mortgage rates are going to go even higher now.

That's the cost of capital. That's the cost to borrow, the cost to do everything. On top of that, the banks, the lenders, the brokers are now competing for your money. Why? You are getting zero on your money because of the rig. rigging and manipulation by Jay Powell, now money markets are going to head towards three. The one-year yield, right now you can buy a one-year treasury yield and get 4.15 percent. No risk. I think no risk. You can get three-month treasury bill.

The three-month treasury bill. Three months. You know what that rate is? 3.18. You know what it was a year ago? Zero. So that's number one. Number two. U.S. grocery prices have risen 13.5% over last year. Now that's on average. I think that's BS. But that number itself is the largest year-over-year increase since 1979. The median American household now would need to spend 44.5% of their income to afford payments on a median priced home in the U.S. the highest percent on record since 06, since looking at it. Two years ago, the 30-year mortgage was 2.87%. New home prices at the time were 405,000, but because of

the asinine bubble by Jay Powell, prices for houses went from 405,000 to 547. But now the 30-year mortgage is 6.29%. So what the result is, a 28,000 increase in the down payment, assuming a 20% down, and a 101% increase in the monthly payment. Do I need to go further? That's what's going on. What else is going on? Federal Express. This is a company with credibility.

This is a company that was started by Fred Smith. I believe he stepped down. probably some emeritus. They have the new CEO, and he came out and said, we have a global recession now. This is not an ass clown. This is not Jay Powell. This is not Joe Biden.

This is a man who knows what the hell is going on around the world. And due to the fact, they do the one thing that really dictates, they deliver all the stuff. And by the way, not just from Green Bay, Wisconsin to Orlando, Florida, but everywhere around the globe and they're telling us everything slowing down and in a big way and it got worse at the end of their quarter

which ended by the way in August who do I want to listen to Joe Biden who says oh we're okay the economy's great the best in history he said yesterday I like to oh I can't say that the Secret Service will be up my dare I take that all back

I'd like to yell at him how's that You had central bankers out today, these morons, these imbeciles, these duffices, saying, then they will be okay. Janet Yellen, the Treasury sect, they will be okay. They don't have a freaking clue what they're talking about. These are the same people that says there were no inflation. And when inflation hit, don't worry about it.

When it got worse, it was transitory. And not till it was really screaming, that they actually start acting. And here's the problem. Today, J. Powell's at 3% Fed funds, the 10 years at 3.878. They're still way behind. And with those yields skyrocketing again, what did we tell you? Two years ago, eventually they will lose control of the narrative. And now they have.

We have been given you the comparison. It's like every ex-boyfriend that every girl, friend you've ever had. They don't want to hear from you anymore. That's the market. Up next, today's market. More depression. I'm Gary. This is the one

only investor's edge. 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, is 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.

Success starts with your drive. and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop. You bring the fire, APU will fuel the journey.

Learn more at APU.APUS.edu. Cash flow crunch. On-Dex small business line of credit It 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 on deck.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. OnDec does not lend in North Dakota, all loans an amount subject to lender approval. I'm listening to... America is talking. Investors Edge He's got to be pleased with that The crowd is just on its feet here He's a Cinderella boy

With Gary Coltbaum Comes highly recommended You're going to feel better if you talk to him And welcome once again to Investors Edge I'm just going to do Outcome It was all over the map today The NASDAQ was up 157 early

There was a bid on the NASDAQ today Didn't last The market wrap is Brought to you by Investment-Dashmottles.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. It's proprietary indicators. Go check it out.

Investment-dash-models.com. Dowdown 329 and really never had a good bid all day. S&P 38. NASDAQ only 657 and NASDAQ 157, but was up 157. Transport's 129, but here's the kicker. What have we told you? When the new yearly lows started picking up, we told you that was trouble. Today, new yearly lows at the close, 2,494 new yearly lows on the New York and NASDAQ.

We didn't even look at the Amex. Advanced declines today, 662 up, 3,644 down on the New York. NASDAQ 1357 up 3132 down. The 10-year yield went from 362. That's a huge one-day move. Direct impact on all of us. And Jay Powell, hear no evil, see no evil, speak no evil. If I was to put this all in a real simplified manner,

Jay Powell and everything he did and the rest of the central bankers, they really have no clue what a monster they created. and how the monster now is fighting back. And we're the victims. We're the victims. At the close today, the Dow did finish below the lows of June. The S&P did not, but is right there.

The NASDAQ did not, but is getting close. Just remember, almost 2,500 New Year into the lows. stocks. Why wouldn't certain things break? Well, Apple was actually up today and Apple is only down 17.6% from its highs. Apple 7% I was told today of the S&P. There's 500 stocks in the S&P. Apple 7% has seven times with the average stock in the S&P. That'll do it. That'll be a help. If they ever really get Apple, get the double fork. There's your story. Yield spike.

Bad. What have we said to you? Yield's going up bad. Yield's coming down good. Yields going up forces the Fed's hand more. Gets them farther away. And as I said before the break, the market is like every ex-boyfriend and girlfriend who broke up with you and doesn't want to speak to you anymore.

It doesn't want to hear from you anymore. The market is shooting the middle finger back in all these central banks that don't shut up. They had a couple out today that just don't shut up. It was just the land of confusion via the Genesis song. And the dollar, another big strong day today. Now, why would the dollar be strong if we're in dire straits? Because the rest are worse than us. Remember, this is all about central banks and their moronic moves.

European Central Bank is still at zero percent. That's why our dollar keeps going up in the Europe. Do you know what it is now? Let me get this up. Euro to dollar. It now only takes 96 cents to buy a euro. It's unbelievable. The pound now is down to a buck seven.

They're crashing. The yen, crashing. They're currencies. And you know what's going on? Japan has to defend their currency. The UK's talking about it. European Central Bank woman who runs the joint, I told you she was a nightmare, right?

And remember Draghi, who was before her, that was nightmare number one, ground zero? He became, who was running Italy. Ran that into the ground. They called him a hero. Remember what we told you. Printing money does not make you a hero. It destroys free markets,

and eventually there's going to be hell to pay. And these people just hope they're out of the way. Draghi ended up running Italy after creating massive distortions. Now you got this Christine Lagarde who went from the IMF, the International Monetary Fund, to the same thing. These people, these miserable failures keep getting to run the joints and they're killing us. We elected Joe Biden, who's a Marxist. And no, I don't use that as hyperbole. He's a Marxist.

Marxism is about being a control freak, rules, regulations, fees, fines, mandates, and taxes, and just a bunch of BS lies. Climate. Go away. Inflation Reduction Act. They made it up. They made the title up. They were in a room. Some head of the DNC said, what are we polling worse that?

Somebody said inflation. Oh, let's call it the Inflation Reduction Act, even though their own parties laughing at it. at it. What it was is a huge tax and spend BS and they're given $370 billion to John Podesta a democratic hack to dole out our

tax dollars and he's going to give it to his rows, his friends. They're going to be fake corporations in Delaware now. We're all for climate change. Oh, we're going to do green energy. Give us 10 million bucks. That's what's going to be going on right now. It's going to be

the greatest industry on earth. And they gave $370 billion. That's a B to one man to dole out. It's sickening. It's frustrating. You were pissed off at Trump. Trump was a tiptoe through the tulips

compared to the corruption going on. And they just do it with a smile on their face and a media that backs them up. It's sickening and frustrating. Go read about John Podesta. and what he's going to do with the money for climate. What? If they're so great, tell them to stop Hurricane Ian from hitting Florida.

Oh, Gary, come on. And you want to know why markets are swooning. They've had enough. The market's thrown up their arms. They throw up enough. You know what institutions are doing? The big hedge funds, mutual funds, and the like in the morning with their,

with their portfolio management meetings. What did they do today? What did yields do today? Sell. What did Biden say today? Oh, he's adding another $50 billion for climate. Sell. That's what's going on.

Biden said, what about the economy? Everything's fine. Well, FedEx says we're a global recession. Sell. That's how it works. And the market now is deaf air ears to the BS being spewed by all of them. By the way, the Republican side also. I love the, you know, the Republicans are coming out now with this whole thing that they're going to do if they take over the house.

They're lying. When Trump was president, $6, $7 trillion of debt and they didn't say a freaking word. They're lying too. And we can't start a third party because they have set it up where every third party gets squashed because of the money and how they create. Remember campaign finance reform, right? You know what they did with that? they lied. Now it's unlimited.

Companies can give bazillions. People can give bazillions. Weren't we told campaign finance reform would limit that? They lied. You know who they is? Both parties! You know, the ones that are cursing each other out in front of the camera and laughing their asses off behind the camera. 31 trillion of that says so.

And the markets have had enough of all of them. Up next. Did I do today's numbers yet? I don't even remember. If I didn't, I'm doing it again. I'm Gary. This is the one only investors at. Hello, hello. I'm Malcolm Gladwell, host of Smart Talks with IBM. I recently spoke with IBM's new director of research, Jake Embatta. 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? Yeah. 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. Success starts with your drive and American Public University is here to fuel it. With affordable tuition

and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop.

You bring the fire, APU will fuel the journey. Learn more at APU. APUS.edu.edu. Cash flow crunch. OnDek'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. Act does not lend in North Dakota. All loans and amounts subject to lender approval. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Investors Edge with Gary Culper.

And welcome once again to Investor's Edge. That's a little silence, a little taking a breath. You hear my frustration. I wanted to be wrong about everything we started saying to two, two and a half years ago. And it actually started four years ago in Christmas of 2018 when Jay Powell decided to change stance just because of market's swooning. But it's nightmarish now. He's still running the show. And the market, listen carefully.

The market itself, the bond market, is yelling. He's still way behind. But you know what Wall Street's doing? He needs to stop, but they're wrong. markets are swooning because the market's shooting the middle finger at him. 10-year at 3.878, he's at 3. The reason why Wall Street's yelling the need to be easier because Wall Street wants the market to go up.

They're sick to their stomach. Remember, Wall Street is a fully invested vehicle. They didn't care about the bubbles. They didn't care about the SPACs. They brought the SPACs out and screwed you. They brought out ridiculously priced IPOs and screwed you. I was going through the all. these IPOs are the last three years, I can't believe how far down some of them are.

They screwed you on valuations. But they can't be blamed. You know why? You bought them. You bought Rivian at $160 billion market cap, even though they had no sales. And even though the market cap was just south of Ford and GM sales, that had 260 billion of sales. So just in case I didn't do it, because in this whole fog of everything, I'm going to do it again. The market wrap is brought you by Investment-Dashmodels.com.

That's Jim Rohrabach. One of the great market timers. No gray areas with the man. You're either in or out of the market. It's proprietary in the canes. Go check it out. Investment-dash-models.com. And I'm pretty sure I did it, but I'm doing it twice.

329 on the Dow. 38 S&P, 65 NASDAQ, 57, NASDAQ, SOX, 35, transports, 1239. In fact, now I remember I did it. 2400 and, it's fixing itself up. 24-197 New Year. low zondish the New York and the NASDAQ. You know what did come down again today though? Oil prices. That's going to be good at the pump. Yay, that's the good news. You know what the bad

news is? It's telling you deep recession. We hope you listen when we said to you, if you're an employee of an employer, make yourself invaluable. We are very sure and you know we've nailed every bit of this. Next shoot a drop will be employment. To what extent we don't know. We don't know. where we don't know, but it's mortgages. Mortgages have fallen off a cliff because of higher rates are the mortgage business. They're getting rid of tons of people. I gather housing's going to be in trouble in construction to a certain extent. What else I don't know?

I heard Amazon is kind of like with a bunch of their big places where they send things out. I heard they're like slowing that down a very big way. I don't know. But usually it's kind of sort of on the broad basis. side. You know where the bull market's going to be? Bankruptcy attorneys. I suspect we'll be seeing a decent amount. Why? Cost the capital that was rigged and manipulated down to nothing is skyrocketing. And today was a terrible day again. Interest rates are stretched and extended and overbought to the upside and they still skyrocketed again today. And the dollar also. So if you want to go to Europe,

want to go to the UK, if you want to go to Japan, if you want to go to China, it is much cheaper. 97 cents to get a euro. The first time I ever went, buck 65, to get a euro. First time I ever went to the United Kingdom, $2.10 to get a pound. It was getting squashed. Now it's a tiptoe through the tulips. You know what happens? Those people over there, though?

They stop coming over here. It hurts tourism. So there's a lot of crap going on and where she stops, I don't know, just not a great day. I wish I had better news. And when I tell you, I wish I was wrong about all this. But you have the wrong people at the wrong time and still in power and still being stupid. And an administration that unbelievably raised taxes on corporations coming out of a pandemic. and into at best a fragile economy

and then tells everybody that if you make too much money, your tax cheats. And we're coming after you. You know what the best thing I heard about the Republicans if they win the House? They're going to squash all the IRS people. They're going to go after the so-called tax cheats. I got nothing against the IRS.

These are people. Biden has now given them a bad name. Biden has presented them as people going to come get you. Seriously That's what Marxists do They tell you everybody else Are fascists and control freaks No

That's what they are Think about that For all of you They have come out and stated Above a certain amount We're coming after you Because you're tax cheats They don't think you're tax cheats

They're just coming after the money Because that's what they are They're all about the rules regulations, fees, fines, mandates, taxes, oversight. The vice grip. So that's the only good news on the Republican side, and I'm not even sure if they can do that without doing the whole Senate in the White House. We'll see.

That said, Serenity now. Go Giants tonight. Have a great evening drive carefully. Tomorrow's another day. We have no clue what the market will do tomorrow. We just know the big picture. It's not good. Have a great evening drive carefully.

when you get home, do like we do. Make sure you hug your dogs and your pets. Hug your children. They will feel better. You will feel better. I promise. Until tomorrow, same time. Peace out all. Thanks for joining us. Always privilege that you would listen. Bye. Bye. This has been Investor's Edge with Gary Cult Bomb on Biz Talk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com. Success starts with your drive, and American Public University is here to fuel it. With affordable tuition and over 200 flexible online programs, APU helps you gain the skills and confidence to move forward. Whether you're changing careers, starting fresh, or pursuing a lifelong passion, our programs are designed for people who never stop.

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