PBD Podcast - Danielle DiMartino-Booth | PBD Podcast | EP 109

Episode Date: December 21, 2021

Patrick Bet-David sits down with Tom Zenner, Danielle DiMartino Booth, and Tom Ellsworth to talk about inflation skyrockets to the highest level in decades, student loan repayment, JFK assassination files revealed, and much more! Subscribe to the PBD Podcast YouTube channel: https://www.youtube.com/channel/UCGX7nGXpz-CmO_Arg-cgJ7A --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

Okay, we are live episode number one, own nine with the great Daniel de Martino Booth, with the biz doc and TZ Tom's enter in the house. So excited to do episode one, oh nine, this the first week we've done three back to back to back. Yesterday we had John Edithnon representing XRP. Guys, we can hear you if you're speaking to the audience.

We're going to be doing a lot of things. We're going to be doing a lot of things. We're going to be doing a lot of things. We're going to be doing things. We're going the first week we've done three back to back to back. Yesterday we had John Edithnon representing XRP. Guys, we can hear you if you're speaking in the background. Okay, we had John Edithnon. And then Tuesday we had Matt Zuller on. And today obviously this is it. So we got a lot to cover. Daniel, before we get into it, our body, Adam,

I don't know if you saw that Tyler, Adam had a message for you. Did you guys see that or no? Adam was at his house, extremely focused. He's listening right now. Did you see the story or no? So who is that? Who's audio? Is that mine or is that yours or is that who's is that? Because I'm off. I hear the audio. Do you guys hear that or no? It feels like an interview going on in the background'm off. I hear the audio. Do you guys hear that or no? There's an interview going on in the back. Yeah, I hear the audio in the background. It's not us. You guys turn it down.

OK, was it you, Tyler? OK, good. All right, so if you want to see the story, Tyler, I want to text it to you. It was very important for Adam for us to show it because everybody's asking, which one do you want me to send it to, by the way? VT MacBook Pro?

OK, it's coming your way. This is to Daniel and Arrested the vitamin audience. I can't get like yeah, I can't have like an allergic reaction to a virtual cat Tyler try to not show any the private Mario videos anymore. It's a little awkward, but I press play Adam's definition of a productive day. Being productive. Can your dog do that? Can your cat do that? She's so proud, though. This is the cat catching the Nerf basketball.

Okay, that's really Adam. I think you need to get out more. Danielle, how many alpha male do you think wake up playing with their cat like that? I mean, that's just to me. It's inspirational. If you ask me there's a market for it. I can tell you this much There's one there's one mark for sure. There's one person in the market. No, I think how about Adam can't even get the ball to the rim That's the problem. I've got a good. I've got a good. Oh, Hanukkah's already coming gone. However for next Hanukkah I was in Paris, and this guy was walking around with,

he had on a backpack. And the front of the backpack was a plastic bubble, the clear plastic bubble. So it was like a backpack that you were in on the front of your body, kind of like a, carry a baby or something. Not a baby snuggler. Not that I ever did that. And then inside of the bubble was a cat.

So the guy was effectively taking the cat out for a walk just to do some sightseeing, not as far. What a sweetheart. And I'm like, what the? That's a sweetheart though. And I'm like scrambling to get my phone and take a picture, because I'm like, nobody's gonna believe this.

Well, did you hear the story about the woman getting kicked off the plane because she was nursing her cat on the plane? Yeah. That was a legit story about a month ago. You know what Adam did? Adam found out her name in the Denver. I don a legit story about a month ago. You know what Adam did? Adam found out her name in the DM group. I don't know if you know that or not.

True story. Anyways, Adam, we love you. We miss you. Is DM a technical term? Is who? Is DM? Yes. Is that like the clock?

It's not like the clock. It is a technical term. Anyways, we got a lot of stuff going on. We got apparently Tim Cook reportedly signed a secret $275 billion dollar deal with China in 2016 to skirt some government regulators. Who knows if this is a story or not, we'll cover that. The Federal Reserve, we're going to get an update from you on what's going on with inflation. I heard something the other day that Goldman Sachs is predicting seven rate hikes by the Federal Reserve in 2020. See if you can have some thoughts on that. No, no. 2022, low literacy levels amongst US adults

could be costing the economy $2.2 trillion a year. You got something to say about that. White House says restarting student loans is a high priority. Sparking outrage. Tom Ellsworth's got something to say about that. And then Blumenthal speaks at the Communist Party award ceremony.

That's a very, very weird quote, mold, order to return to $5.1 million pandemic book profit he made. And then Pelosi reject stock trading ban for Congress, members of Congress. We are a free market economy. They should be able to participate in that. So having said that,

Danielle, why don't you give us an update on what's going on with the economy today? Well, let's bring up the chart. Let's start off today by bringing up the chart. Because believe it or not, what's going on with the economy has a lot to do with how much money the government is giving people. And people don't have a good appreciation for that. We're actually starting to see shipping rates turn.

And this is a global phenomena. We're starting to see inventories build. This is a global phenomena. So the supply chain disruption that we've been talking about for the last 18 months, it's starting to dissipate and companies have gone from just in time to just in case. So you don't want to build up stockpiles, by the way, that's not good business practices. And yet, so many companies are on the fiscal front, though,

if you look at what beef inflation was, damn your 25% your overyear, Forget the 6.8%, forget that. But poultry was at 14% your overyear. I mean, we're talking about monumental moves in the most essential prices, we know housing prices are through the roof. However, there's a reason, there's a reason that we're seeing inflation

to the extent that we are, and it has everything to do with fiscal policy run amok. So this is the supplemental nutrition assistance program. And this is, it used to be called food stamps. Yep. On the day that Biden said had to walk back and say, I meant what I said, August 16th, about Afghanistan. He had a New York headlines hit right then and there,

New York Times headline hit that said, snap benefits to increase 32 percent and the biggest increase in the history of the program. So he signed an executive order in January and he said, let's revisit the food pyramid and see how much money we really need to give families. And by the way, in, well, in, in, right before the pandemic, we were kind of in the $190 range,

is $125 range, this is per person. Can you explain to the average person what this is? This is the average benefit that an American receiving, what we used to call food stamps, gets deposited to a debit card on a monthly basis. Okay. So this is this is this is a food stamps being given away to the average person. Right. Okay. And in in in August, when he was when the international community was enraged because of how badly Afghanistan had gone. Yeah. The executive order all of a sudden the reporters ready to be rolled out that same day that said we're going to give people 32% more.

32% more 32% So they buried it essentially as of October the first Data are not available, but this is this is an extrapolation if you will because we only have data through September But if you extrapolate what the average US household was getting give or take $400 you bump it up $570 per household. That's if we got like two kids, per household.

Add that to the average of $550 that 61 of the 73 million children in America are even the child tax credit. 90% of US households with children are getting cash in the government yesterday with the last payment. And you add these to us. 90% percent. 90% percent.

In 2019, there were 73. That's heart-to-believe. In 2019, there were 73 million children in America. We know that since then, the birth rate has declined. Yep. So that 73 numbers probably high, and immigration has crashed. So, but as of December the 15th, the last cash payment that we know is going to occur

without build back bigger. As of December the 15th, the average US household was getting $550 in cash, 90%, 61 million of the 73 million children in America. Families who do not need the money, period end. In addition to that, the CARES Act greatly expanded the percentage of Americans who are eligible for assistance with buying food. So on October 1st, we don't have the date yet, the benefits went up by 32%.

Again, you hear these anecdotes. If you're, if you're joe-queue household in America and you're getting $1,100 in cash at a minimum, a month, and your spouse can stay home, which means you don't have to pay for childcare. Are you ever going back into the workforce? So, I'm probably probably not for core jobs under 50,000 a year. Exactly, because it does make an economic sense. And that's the line of thought in the math. So they're giving people so much money that the fraud is rampant. Yeah.

If you're Joe Q with five kids and you're getting $1,500 a month, times two, if you're Joe Q, what do you do with all this money on a debit card to buy food? Right. When you don't want to buy that much food, you sell it to your liquid uncle for $0.50 on the dollar. You got $8,000 sitting on this debit card

to like, what the hell am I going to do with $8,000? I don't want food. I want other things. But is this stopping? No, this is not stopping. That's why we're part of the chart. There's some emergency measures in there that are going to decrease labor so much. So what you're saying is to divert from the Afghanistan.

I'm just saying that it was a coincidence that it happened to roll out on the same exact day that he had to say, I stand by my decision. It's one of those coincidences. Got it, got it. So it's one of those coincidences like dropping a new story at 4 o'clock on Friday and the other tricks that our government does

to kind of divert the distraction. So we could disbate the distraction. But on that day, they raised it and it was not temporary, it's permanent. And so you have people that are getting a tax credit simply because you check the box, that's how you fill out your taxes and tax software does it automatically.

And then you, that's the half you're talking about. And the other half is these debit cards that are out there for the other half of them. Because 90% American households don't have one of these debit cards in the government. No, no, no, no, no, no. This is not 90% the child tax credit. So you're talking 90% of you are getting tax credit that your tax guys quick and software automatically puts on because it's part of the regulation. And then the other half is

getting these cards and these cards are now up to this to the point that there's a secondary redistribution model for people are monetizing it and selling it to record a whole thing. Well, and I'm not saying that this is the norm, but I'm just saying, I was in Austin for down the middle Austin series last week. And we're, I mean, to hear the anecdotes of somebody with $8,000,000 built on a debit card, you sell it to your uncle who's liquid.

Your uncle gives you $0.50 on the dollar. So you've got cash to buy whatever you want. All the bad goodies in the world, all the good goodies in the world. What does your uncle gives you $0.50 on the dollar. So you've got cash to buy whatever you want. All the bad goodies in the world, all the good goodies in the world. What does your uncle do? What's your debit cards only? They're anonymous. They're anonymous.

Okay. They're interchangeable. So what is your uncle? There's not a name on there. No, you just use it at, you use it almost like a gift card. When you go to check out a program. You can buy a cold sandwich,

but not a hot sandwich. And you can't buy booze and you can't buy cigarettes. You can't buy anything that's bad for you. You can only a cold sandwich, but not a hot sandwich. And you can't buy booze and you can't buy cigarettes. You can't buy anything that's bad for you. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food.

You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food.

You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. You can only buy food. paid 50 cents on the dollar for this card. What's for dinner? Is it ground beef? Or is it wagyu? Whatever they're hungry for. Exactly, because they've just paid 50 cents

on the dollar for cash. Why is beef inflation up 22% year over year? Why is a pound of bacon $9.99? But here's what happens with this. This is when you get destroyed in midterms, you know? Destroyed. Destroyed. So the point the point is there's cause and effect.

The great thing about the system is there's cause and effect. You can do all of this free stuff, thinking it's going to work. And then you realize the math doesn't make any sense. And then you get destroyed. And then everybody says it was your fault. And then they gradually distance themselves from you, because God forbid, if a person is seen that's a Biden camp and your congressman

trying to run again, you're like, if you're part of his camp, you're not gonna get real. You know, there's a lot of people not getting going on him today, they're trying to stay away from CNN, yes they did, I don't know if you guys saw CNN, yes they made a story, they talked about the fact that who are some potential candidates to replace Biden. They're already talking about

where some potentials. They were making a huge deal out of that. See, man. They were not, they were not. That was like their talking thing of the day. And did you hear what one person came out and said yesterday that said if it's gonna be a consequential event if this person gets reelected,

you know who that legendary person was that said this, the sweetest human being in the world, the most beloved person in America, who is more ambitious to wanna be a president than anybody else. We have currently in America that didn't get there, but Newsweek did a special magazine on this individual saying, Madam President, do you know who that person is? Runs?

Hillary, please. Yeah, exactly. You can imagine if Hillary runs again in 2023, 2024. Oh my God, it should be what, nice. So anyways, so the point is, you can do all this stuff all you again in 2023, 2024. I might not. It should be what, 9. So anyways, so the point is, you can do all this stuff all you want. But you're not going to do well. Right.

And you're going to get crushed in midterm. So keep doing it. Yeah. And you know, Daniel, the key word that you threw out there was fraud. Because this thing is just right for fraud. You know, last. You game the system. Last fall.

So when I was coming. It's not just right. The fruits being picked. You're correct. So when I was going back and forth from Dallas to LA last year, the final four months of the year, I was going back and forth every single week. Every single week, the planes were full, right? And this is when travel was shut down and I could not figure it out.

I mean, why are the planes full coming back from Dallas to LA? You can't go anywhere. The city shut down. There's nothing to do. Finally, this really smart guy informed me what was going on and he was an Uber driver. The massive level of fraud that was going on with the handouts last year on the debit cards. People would fly in that have never been on a plane before, by the way.

A lot of these people have never flown anywhere. They come to L.A., Uber drivers pick him up and drive him from ATM to ATM. They withdraw $300 at a time on these fraudulent cards. Then they rent big houses in the Hollywood hills and throw these huge parties. They rent luxury cars for $2,000 to $3,000 a day. And that's what was going on for four months. Billions and billions and billions of dollars in fraud

with that handout program last year. And by the way, a few people got a resident. They went to jail for it. I mean, there's stories that. Yeah. I'm going to pose a question to Tom because he got one step in front of me because you were you were going Right where I was going because Patrick started up. I saying where is he going? It's it's trouble when you compliment Tom

No, no, no, it's over. It's gonna be getting in the show. We're done He knows what's happening. No, this is my sister from another mother. We're thinking the same way on the second half He knows what happens on Okay, so if you're joe queue. I've been collecting the child tax credit in cash Okay, so if you're joe-cue I've been collecting the child tax credit in cash Do you still anticipate that you're gonna get your big tax refund on January the 31st when you go to H&R block wherever you go to Electronically follow your taxes. Are you still planning on getting that tax refund like in general or that day? No, just in general the middle class and the slightly upper middle class that's using H&R block They still think it that's coming so they still think the income tax refund can have.

Absolutely. But the child tax credit has been paid out in cash. Post facto. Past tense. So we're talking about, whoopsy. And Biden wants to start paying back student loans on February 1st,

right at the same time that people are not getting their income tax refunds, that they were thinking that they were going to get to pay off their credit card debt from Christmas. Oh, it's just going to be. We'll see. Fire up the printing presses. No, it's just that. There are Republicans don't even have to, they don't have to hire an advertising agency for

the, for the primary season. Patrick is correct. They can just sit back and just, and say 61. Well, and then you couple all that with the crime, right? And then it's a toxic matter. Patrick, absolutely right. Well, and then you couple all that with the crime, right? And then it's a toxic matter. Absolutely right. Well, Pat made a point. No minute ago he says, Hey, you can keep doing this for free. This what they have done on fiscal policy during this reaction to COVID and they have pushed the free pendulum all the way over here.

It's a combination of free and printing money and they pushed it over here. All of a sudden that pendulum is going to be too heavy and it swings back the other way. It has to. It has to. And they can spin it all they want and the sake can say whatever she wants from the podium and the average person is telling you, my milk is now six bucks a gallon. The average person is telling you, my gas is expensive. And those are the people that are going to the polls. So you can spin it any way you want, but the charts are speaking truth and pets. You're absolutely right. It's coming. It's coming. Let me ask a different question. So I remember we were in the army, speaking truth, and paths, you're absolutely right. It's coming. It's coming.

Let me ask a different question. So I remember we were in the army, okay. And you'd go into formation, you had a long weekend, you partied hard, and one weekend I'm doing guard duty, and we had this one guy, if I say the name, no one's gonna know this guy's, but it was Jackson. Only the guys over at the unit would know. This guy was Chris Tucker, combined with Dave Chappelle,

hilarious guy, but he loved smoking weed. And in the army, you couldn't smoke weed. If you did, you get caught, you know, you're going, getting an article 15 and, et cetera. It's an, and we had another guy, I can't say his name because his last name is very unique. He was a cocaine guy. So on one end at a hall, we had a mountain of cocaine.

I walked in one, I'm like, dude, what are you doing? He said, David, can't tell anybody dog, you know, how the hell do you have this much cocaine? Oh, only make 800 bucks a month. He says, well, such and such gave it to me. We follow just

a distribution. Anyway, so he said such and such gave it to me. But anyways, don't tell anybody who wants something. I said, no, bro, I'm totally fine. But no, with please get rid of this stuff. I think you're clinic.

No, yeah, go hook them up. The new news, go. So now I go back to the other side. So one end, the doors open. They're doing coped. The other end, smells like frickin' Bob Marley showed up out of nowhere and resurrected. And they're smoking nons.

And by the way, the worst part is smokes coming from the bottom of the, what do you call it? The door, right? That's good. I'm like Jackson, you're make I'm an I'm responsible. I got guard duty bro, you're ruling my life right now. I'm gonna get in trouble. He says, dude, David dog.

You can't do nothing man. You got tell him I'm not doing nothing. I said, I said, here's what I need you to do. I can tell him anything but there's no. So I said, dude, light up incense everywhere. So he says, okay, okay, okay, good idea, Doc. So I go grab my incense. I get everybody to get him.

And he's got 50 miles. You should see this place makes no sense. So Sergeant calls me. Bed David, yes, Sergeant. I'm coming through. I'll let this in. I would suggest we start off with the one that's the most troubled one, which is Charlie Company,

which is the one that's the most peaceful one, which is Charlie company Which is the one that's the most peaceful? Very easy, cold start. Guy tactic, right? So we start with Charlie and I'm taking my time. I think we have to be careful with this floor. It was filled with, you know, Christians and Mormons doing good kids, right? But you got to be careful with these guys because you know how they are sometimes. There's some coiloquers.

There's some coiloquers. Yeah. So, in a second, I'm taking my time like dude I got like if I can 45 minutes I open the windows everything anyway she says we got to go to H.H.C. because Jackson's are said Jackson's the biggest sweetheart

what are you talking about? It says bed David you and I know who Jackson is I said do it. So we go there and we were walking up he says what's that smell I say they were barbeque an earlier. That's a smell like barbecue.

I said something burn something burn earlier. And since that, that's a smell like barbecue. I said, something burn, something burn here. He said, no, I smell wheat. I said, no, it's incense. Incent smells very similar. So he goes and you see the smoke coming out of Jackson's wheel. Dude, he knocks on the door. It opens the door.

What's up, son? Jackson, why did that look off your face? So he's got two other buddies that sit in a... I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry.

I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry.

I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm they're smoking with us. I said, what are you talking about? It's incense. You ever had, it's a smell that doesn't smell. So anyways, we leave.

So at this point, I'm thinking I've got a way with it. We go to the other side. The cocaine guy covers it up. Okay. Which by the way, that guy ended up going to jail for like five years, military prison, bat situation, because he wouldn't stop doing cocaine. You're not supposed to do it in the army. You're not supposed to do it, period,

but in the army, it's even worse. Anyways, we go to formation. We can answer. We're like, guys, hey, big dog, we made it, you might hold me, but I'm like, dude, we made it, we're straight up. So, Monday morning, we're doing a random drug test. If you're social, the last four of your social starts with the number six and four step up.

So whose numbers are they? It's Jackson's mine and four step up. So whose numbers are they? It's Jackson's mine and the other guy. So I'm like, I don't know, I'm clean. So I step up, I'm like, oh shit, Jackson, oh, dog. I don't have the, what do you call the thing you would pour on your vinegar? They didn't have the vinegar because you have to tip it. And then anyways, anyway, we're learning a little too much

here. So, dude, I don't have the, you gotta, I said, dude, I'm not gonna have any. So anyways, we'll go get tested. And the way they tested, the way they tested is they're watching. It's not testing, hey, go give that, no, no, they're not doing that. So put your hands on the side, one hand on the, let me see. Very awkward. So, we come out.

They say, what are you things gonna happen? I said, I did it, you're gonna test positive for incense or you're gonna test positive for a week. What? Or barbecue? And that's positive. So the cocaine guy doesn't get tested for nothing. He gets away.

For whatever reason. Wow. They didn't get him. They got him six months away, but they didn't get him that time. He just couldn't help them. He helped himself. He was too pretty with a guy. And I introduced him to one club, and he just went crazy.

Jackson gets caught. And he goes, he can mode it from specialist to an E1, okay? And he has to do bathroom, you know, all this stuff he has to clean up. He's like, I'm like Jackson, I told you, bro. So I come up clean, everybody's good. We leave.

Jackson's out, the other guy goes to military prison and people have to figure out, probably not a good idea to smoke weed and do cocaine in the army, right? I come out of the army. I talk to one of my friends, who him and I worked at Burger King together. He was the cashier and I was the chef.

And so, that would make me cashier, this he talked to much. That's a big word. I was a chef. Listen, I like being a chef at it's, a whopper, no one he is, right? So one day we enter the biggest debate about welfare and social security

and all these section A and all this I said, you know what I think they need to do? He says what? Biggest debate. I'm curious on what you guys will say. I said I don't mind if you're given on employment benefits to people Some people need it for three six months that recover. I totally get you need to give welfare and a food stamps of certain people But here's what I think they need to do. What's that? I think every month you ought to get drug tested If you test positive you don't get taxpayer money. If you test negative, listen, we'll help you out. But there's one criteria.

You cannot do drugs. He lost his mind. This is not fair. What would it take if we were to drug test people that are getting, you know, whatever it is, wake any of the stuff that we're getting? What percentage of people do you think wouldn't get the benefits?

Well, you know, through the 80s and 90s, you know, you would have a tremendous percent of people under 30 that test positive marijuana and don't get the benefits. And now you've got 25 states where it's perfectly legal to go get high and just go buy it at the drug store. You can get adabels from whatever you want

and you know, process. But what patch of your thing get adaboles from whatever you want and you know process. But what patch is in order to qualify? You have to be able to pay 90%. I don't think it's that high. No, no, no, I was going to say a fifth. I've to add them right now is rolling. I don't think it's 90%. No, I would say at least a third.

I'm going to go with a third. Fine, I think that's conservative. Okay, let's just say a high of 90%, which I'm sure he's being conservative in his mind. Was that a pun? You're a third. Let's say, let's say third. There's a delay reaction this morning with Patrick.

Is he related to Trump? Let's say, I'm a third. Are you really serious? You only think one third of people that get these free benefits. I don't have to do shit all month. Are only a third of the month or Fine, how about we say 50%. Let's just say 50%. At some point during the month,

they would test positive if they hit up. 90%. Let's say you're really jacked up about this. I thought high 90 was a fastball, but now you're talking about drug percentage. Let's say 50%. Let's say 50%. What do you think would happen if that was a standard?

He said, no problem, you're going through tough times. My rule for unemployment, and how people want to get unemployment, here's my unemployment would work. What were you making at your job? For a grand a month. How much is unemployment? We're paying you two grand a month. That's it.

No problem. Here's what I want you to do. You're four grand a month. You were working 40 hours a week. I was. The two grand were giving you unemployment. I want you to give 20 hours of community service. Exactly.

And we'll pay you two grand a month. But as long as you're not disabled. You know how quickly people would get off of unemployment? Oh my gosh. Very less than we need community service to side it a free was or dirty, bro. We need your help. But you're so awesome.

We'll give you this $2,000 in exchange. And a drug test once a month. We'll surely do that. Here's your reflective vest in your orange bag. And people would be like the side of the freeway going, my friend's on this freeway texting. I do not want to be here. They would be often employment in 10 seconds.

Yeah, that's the point. So the point is, do you want people off of unemployment? Do you want people off of welfare? Do you want people, not you, politicians, establishment, do they want people off of entitlement programs? No. Or do they need them on entitlement programs to get the votes? Yeah, yeah.

But look at the gray line. It's been proven. That's the unintended. This is how to get the vote. But look at the gray line. It has been proven. That's the unintended consequence. That's food at home inflation. And this is a government program making inflation higher than what otherwise be, which is the most regressive tax in the world inflation. Let me ask you this question, because the people that are putting these policies together have smart people around them, or they are smart.

They're not idiots. Do they think we're idiots and that they're just gonna force feed us this as long as they possibly can? Is this a day-to-day game for them just to stay relevant and to be re-elected? Or do they think these policies work? Well, let me ask you a question. When it comes onto parents,

you think parents are smart or you think they're dumb? I think they're smart. Okay, good. Let's qualify all parents are smart. Okay. Do you think some parents who say a father who has not been on a picture comes back, he wants to win the kids over,

how do fathers try to win their kids over? Money. A tension. What do kids later on say in life when they have that one big fight with their father? Stop trying to buy me with what? With gifts, right? When people grow up,

some kids are gonna be like, do not love it. Give me more gifts. This is great. But some kids say what? I don't want you. I don not love it. Give me more gifts. This is great. But some kids say what? I don't want you. I don't want you to love me with money. I want you to put some time into me

and help me grow up. You were not there for that time. There's going to be percentage of people that are going to be like this. This political party is awesome. This is great. I'm loving this. But there's going to be a few people

that are going to be like this. And I'm sick and tired of this bullshit. Sick and tired of it. I got it. I got it. You can't buy me with money. I don't want any of this in town of my programs of it. I got it. You can't buy me with money. I don't want to need this entire program. Well, I mean, again, 61 of the 73 million children in America, 90, what percentage of Americans

know that they're getting money that they don't need and are pissed off? A lot. I mean, I heard people, I don't know about pissed off because probably, but you know, it's funny. I've heard people say, like, why isn't this money going to people who really need it? Why am I getting this money? I don't know. That's a reaction. I hear people say that need it? Why am I getting this money? I don't know. That's a reaction. I hear people say that all the time.

I just got a deposit. I don't know why they're sending me money, right? I mean, people that probably don't need it. They're still getting the hand out. Yeah, you know, it's crazy. We had a board meeting last week. Tom was in the room and one of my investors gets up and he says, you know, last year I called Pat and I called Pat.

I said, hey, they're getting away the PPP loans. Okay, and we can get pretty much free money. I said, what's the number? He says, a little bit less than five million bucks we can get if we go get it. But remember, we don't have to pay this back. I said, why do we take the money? He says, listen, just take the money.

You don't need to worry about it because we don't have to take it back. You can, I said, do. Take the money and run. I said, I'm not doing it, bro. He says, so then they call another board member to call me and say, we should take this money. I said, we have money.

Why might take in five million bucks? He said, because they're doing it for everybody. And I said, I'm not gonna do it. So he brought up this story to say, Pat, they don't want to take it. Why might I take it a money if I want to be fine? I don't need this money. Give it to people that are struggling.

The restaurant owner that's getting crushed, give him that money. They need to amend this help. Exactly. We're gonna be okay. Well, the board should be happy that you took that stance. Integrity, you know? Well, sure, but that board member is a very, very driven by the numbers guy.

And I love him, but he's a great guy. Great guy, by the way. Fantastic guy, but it is what it is. Anyway, so we'll see what's going to happen here with these numbers and the direction inflation has gone. So having said that, having said that, inflation surged to 6.8% in November. Okay, even more than expected to fast this rate since 1982. Federal reserve is expected to take a very big step towards a rate hike. It's what they're talking about right now. This is a Cmbc story. They're about to announce a dramatic policy shift

Wednesday that will clear the way for the first interest hike right next to your markets. Our anticipating the Fed will speed up the wind down of its bond buying program changing the end to March from June. That would free the central bank to start raising interest rates from zero and Fed officials are expected to release a new forecast showing two to three interest rate hikes in 2020 and another three to four in 2023. The big wild card for markets is what the Fed says about its balance sheet,

which was $4.1 trillion in January. The 2022 before pandemic was swollen to $8.7 trillion. You just mentioned that there is one set of analysts that said that expecting as many as seven mini hikes during the year. No, no, I said that. You said that.

Goldman Sachs. Goldman Sachs is seven. Isn't that interesting? Well, listen, yesterday was a shock for the markets and the federal officials are being so aggressive because they announced that the median probability is now three rate hikes according to federal officials, according to the dot plot, according to the anonymous votes. So a preponderance of the officials on the Federal Reserve Board are now anticipating three rate hikes next year. But as we see Fed hikes scene starting with

yield curve flattest in a generation, it's a wonky thing to discuss, but the reason stocks are up is because stocks are like they're not not gonna be able to do it. Because we've had the difference between the two-year treasury yield and the 10-year treasury yield, which is by the way, what I spent all of 2019 talking about. I spent all of, one whole year talking about the Dan Beild curve. But we've had the difference between the two-year

and the 10-year yield go from 160, 1.6 percentage points in April at the peak of the stimulus, stimulus checks 30.0, to where it is today half of that 80 basis points. So it's been cut in half. So it's a record decline. Once that yield curve gets really flat, it tends to say we're going into recession. So the markets yesterday were like, they can try and raise interest rates all they want.

But they cannot raise interest rates if the yield curve is flat or even worse Inverted because that signals a recession. So try me go for it hurry up with the taper Right now they're on track because they doubled the size of their the reduction and purchases To from 15 to 30 billion dollars starting in January So they're on track to finish with the taper to stop growing the balance sheet by March 15th at the rate that they have announced officially yesterday. So in theory, on the March 17th meeting, two meetings from now, they could launch the first interest rate hike. But let's go back to tax season and the money that people are not getting back in interest

in income tax refunds. And the child tax credit not being paid January the 15th for the first time. And Biden seeming to pull it out of his, the February the first student loan repayment. Let's talk about what the first quarter of this economy is going to look like and what the Fed is going to be able to do a single interest rate. And despite inflation, which there's a word for it, it's called stagflation. And it's the worst of all possible situations because your growth is slowing while prices are still rising.

And it's the hardest to break. And it's the hardest to break. And it is the hardest to break. And wait till people start getting their energy bills over the winter. That's the, that's the, that's the, that's the, it gets cold. Forget it. Game over. You know, when it comes to the Biden administration, it's going to be praying for COVID strain number six to distract the American people from the fact that a multi point assault on

the economy is happening. And how bad do you think it's going to be? How-point assault on the economy is happening. How bad do you think it's gonna be? How bad do you think the economy? JP Morgan came out yesterday morning and they said, you know what, our healthcare conference is going virtual. So let's try and multiply that out, right? When travel's coming back, right?

When all the, everything in-person conferences, I mean, I've got them lined up. That's one of the biggest to the year about it. That's in San Francisco, I believe. It is now virtual. Could you imagine if people had access to these types of conversations a year ago right before the election?

Do you think it would have changed people's minds knowing where the economy was going? Because a lot of people predicted this. This isn't so clear. You know, you don't executive order the USDA into increasing the food stamp program at 32%. This is, I mean, this is like, what's being done to the US taxpayer quietly?

It's just criminal. And you just need more people to talk about it. And I'm telling you, 61 seats, 61 seats swing, come November is going to look like a walk in the park where it's going to happen in the middle of the house. The narrative's already shifted. You can tell. And it's a story later if we want to talk about it, but even how some of these liberal mayors are talking about crime right now, they're actually admitting that it exists, and you know that's a preemptive strike for the elections.

But when it comes to inflation, I think everybody has this. But it's true. Uh-huh moment, right? When you realize inflation is real, for me, it hit me the other day. I was at the grocery store. I bought two apples. I was going to buy two apples.

Two apples. It was like four bucks, four, four, 50. I'm going for two apples. What's in the apple? Well, Jackson had hidden some marijuana in him. That's what I'm going for for two apples. What's in the apple? Well Jackson had hidden some marijuana in them. That's what I'm saying. I had a photo of a wallet. What time?

That's the secret special apple. That was a bad apple. No wonder you're in a good mode. It makes sense. I'm not the maples. I know. I bought 12 more. I bought 12.

I like these apples. I like these apples. I like them apples. That David is and Flake out this morning. But I don't need those apples that bad. I don't need apples. Right. That's a ridiculous four or five bucks for apples. I didn't buy this to two apples.

I didn't buy the pound of bacon. So I'm 99. Somebody told me it was ten bucks for a bag of oranges. You have a problem with bacon. This guy's got a problem with apples. But by the way, how are things in California right now? You know, you and I text it back and forth the other day with the whole grades where they're getting rid of Fs

and some LA, L-A-L-A-U-S-D-N-Ds, right? Some cities, they're not gonna do these. But how are things with crime and street? I mean, you've seen a lot of videos. People are walking and taking stuff, but we're not living in California, you're there. What is it? Oh, Dallas, Texas too.

I know four people that have been either held up, had a gun pointed at them, something violent, a violent encounter. And this is in Beverly Hills. This is in the Pacific town. I personally know them. I personally know people that have had guns, pulled on them, robberies around them.

You know, we were making a movie with Alec Baldwin. No, actually, he took a sabbatical. Wow. We had a Christmas party last week, a good friend in Beverly Hills. And literally, I was thinking about it all day, I was thinking, is there going to be security there? Because literally, they're hitting holiday parties now. They'll come in and they'll watch us while it's in rings.

It's happening. It really is. And I literally asked them, I said, by the way, is there going to be security there? Have they thought about hiring somebody? Luckily, it was in an enclosed condo complex where you couldn't get in. But I was literally thinking about that all day. I think about that where you drive, where you go. People don't wear their watches.

They don't wear. They don't carry expensive things. You're a walking target. And it's just, it's really sad. They had huge smashing grabs over Thanksgiving, like a lot of these big cities did. They rounded up. They arrested 17 people. Garcetti like a lot of these big cities did. They rounded up. They arrested 17 people. Garcetti goes in front of this big press conferences.

They were all released the next day. Zero cash bonds. It's really bad. They're so brazen. They don't care. They're organized. Right. And I think it's starting to hit more influential people in California.

That's why I think it might start shifting a little bit because it just makes no sense. If you think back and think these, they can go in and steal whatever they want, whenever they want, in the most high traffic area. So it's a great time for citizen watches to create a marketing campaign. Where are watches? No one will steal them. Like a very, it's a, yeah. Exactly. Like the old swatch from 40 years ago. Hey, Pat, you know what we're talking about the smashing grab. You know the Nordstroms that's at West Hills. Yeah. It's right. It's on Topenka Canyon and it's the edge of Kenoga Park. But it's right by West Hills and where all the celebs live. You know, Calabasas right next to that. That was the Nordstrom that was hit. So they're coming to these. It's not. It's not just we were. That's right. The one on Topanga. Topanga. Plata. That's the

mainstown. That's the best Nordstroms in LA. That's that's right. It's now known as the Westfield West Hills. Oh my gosh. That's the one that got hit. So when there was police cars chasing them, it was a huge. It was a chase. This is not an isolated incident when Nordstroms reported their earnings. They had a

special line item for theft. That's how much it's impacted Nordstrom's earnings. They had a special one line item for losses due to theft. And Walgreens has shut down hundreds of stores because of theft. And it's organized, the Topanga one happened this way. First three came in with bear spray and they hit the guards. They walked in and this was two girls, one guy dressed reasonably. They they had like you know they were wearing like caps and then pulled them down and then they hit the guards with the bear spray and then 20 people stream in and got all the purses and stuff that can be sold easily on

eBay or with sidewalk vendors down in Venice. Hey you want a purse. Yeah. It had a method point is that there is a playbook for this? It wasn't just random. I talked to a big PR from yesterday in New York. And this is how the call starts. So my friend said, you ought to get with one of these big PR firms. This is the main person who got to talk to us and no problem.

So she gets on and she says, so how are things great? So what are you at? I'm like, I'm in South Florida. You know, things are great here. Ooh, I hear things about South Florida. I'm like, what are you about South Florida? It's okay.

I said, how are things in New York? Oh, great. I said, ooh, you know, it's great to be part of a... That was the best city in the world just a couple years ago, pre-COVID. Oh, stop exaggerating. Still the greatest city. I was in the streets the other. Oh, stop exaggerating. Still the greatest city. I was in the streets the other day.

People are walking everywhere. It's so free. It's still the greatest city in the world. I'm like, yeah, it's a lot of strange things going on there. And you saw her, like she couldn't help herself. No, this is still the greatest city in the world. And she's going with this part. I'm like, all right, I'll say, well, awesome.

You know, more power to the great city. There are certain people that are trying to deny what's going on in their cities. New York being one of them, LA being one of them. And Newsom even came out and said, I'm going to follow what he call it, it's a protocol. He says, what Texas is doing with abortion, I'm going to be doing with gun laws is what we're going to be doing. Remember that?

Yeah, he's ramming that through to get rid of the automatic assault rifles. Right. And in LA. Anyways, again, they keep doing things like this. People are going to keep leaving. People will react. There is cause and effect. I was in New York City yesterday.

I mean, I heard from a lot of my buddies. I'm back working at home. They shut down the office again, because they impose mass mandates inside. Yeah. Yeah, LA just shut down for another month, too. Mass indoors everywhere. Don't you just love that? It's like a way of saying, go spend time with your family.

There's a level of nobility in Newsom when you think about it. You know, like these guys are, they're so concerned about your quality of time with your family. Newsom and nobility, I never, I never made that connection. Yeah, it's just, it's a sweet little thing that's going on there. So, okay, let's talk about student loans. White House says, restarting student loans is a high priority. Sparking outrage.

Okay, Tom, this is a story you have opinions. Let me read it first and then you can get right into it. It's a true, truth, is that the one? Yes, it is. Okay, White House Secretary Jen Sacky recently announced that the Biden administration is not planning on extending the student loan payment pause. Sparking outrage among debt advocates and people

who have struggled with student loan repayments for years. The administration is planning to allow the student debt payments, pause to expire at the end of January, the pause, which was implemented to aid borrowers as the economy was racked by the pandemic, has been in place since March of 2020. 2020, I'm angry at Biden's backtracking on key pillars he ran on. Cancelation. I'm fearing what the end of the moratorium will do for so many people tweeted one user other twitter uh... user noted that allow repayments to start during a critical

election year as a poor strategy for nations top-democrat which she's right so thoughts how many thing about this well that there's like three angles to this the first angle there is is i think it's political um... and then there are other ones as a large banking and the big numbers that you talk about. Right now there's $1.7 trillion of student loans that is held by a collective sum of about 43 million students that ran those up.

So the first thing you had is Biden ran a campaign promise when he was not yet the nominee for president and he was fighting against the Bernie group that was completely locked in with Bernie and the Elizabeth group, Elizabeth Warren. And so he said, if I'm elected, I will cancel half of the student loan for the lower half of more, you know, economically, you know, below some line students line students half of them half of them Okay, good. Well that would be 800 billion dollars and we just approved a 2.5 trillion dollar debt increase So were you gonna get the other half you know 800 billion from it was it would basically be tarp For those that are carrying it. You know the big three are Nav? Naviant, Wells Fargo, and Discover hold 40%

of the student loan debt. So if you're canceling the debt, what you have to do, you have to do something for the, not the servicers, but you gotta do something for the banking industry. And guess what? That would impact the size of BBB, and that would also impact the size of the recent increase on the debt limit, Because it's all related.

This $800 billion is going to come from some of it. There it is. 1.73 in loan. Yeah. And then you'll find in there about 43, 44 million Americans that are carrying that. Yep. 43.2. Yep. Yep.

So there's a big number. So the first problem is, you know, I'm not unhappy to see a civil war inside the Democratic Party about this because this is one of the all the independence moderates and the Republicans kind of set this one out and they're watching the Democrats have a civil war. You know what's the problem with giving things away to people for free? You know what's the problem with giving money or things away to people for free? They just expect more. They come back.

Somebody else's money. You eventually have to stop. That's correct. The only thing I'm saying. So for example, I had a friend of mine, best friend in the world. We went to first grade together, high school together, military, meet everything. No cocaine. No cocaine.

This guy is not a cocaine guy. No. So best friend in the world. Yeah, I think of that. But because it's other things. But anyways, so. But the friend at the other end of the hall was the marijuana. He was the Jackson's man. I missed that guy so much. If he finds this at invite him to tell these stories

because he's that funny. Okay, Tom, stop. Okay, so my bonks. So anyway, so I'm I'm talking to this guy and he says, Pat, I'm going through tough times. Okay, I never forget this. I'm going through tough times. I said, what are you going through? Ty, I can't pay the office rent. I said, no problem. I got you this month on me. 30 days later, he makes money.

He buys a nice $4,500,000 engagement ring for his girl. Rent comes, he says, I'm struggling as well. I said, bro, you just made, I know how much money you made. Yeah, yeah. He says, no, no, one more month. So I said, I had one more month. So at this point, I'm getting the good feeling of being a good friend because he likes me.

Do you know what I'm saying? It's like, oh, wow, this is so awesome. What a great friendship we have here, right? I'm bailing my friend out. Two months, three months, it ends up being eight months. Eight months later, he hasn't paid rent. Then I have to tell him to do what? I, the friend has to a victim. I have to tell him to do what? I, the friend has to a victim.

I have to tell him, you cannot be in this office anymore. After eight months of not paying rent and a victim, guess who became the enemy? I'm the bad guy. And he went nuclear. You know, he went nuclear. You know, my dad told me, here's my dad told me. He says, parent, you're about to start making money.

That's just 13 years ago, 14 years ago. I'm 27 years old, so 16 years ago. He says, you're about to start making money. He says, you about to start making money. He says, when you start making real money, everyone's going to call you. You have to have a basic rule when people call you for money. I said, what's that? He said, when people call you, they'll say,

I need to borrow five thousand dollars. He says, never give them, lend them five thousand dollars because the fastest way to lose a friend or relative. He said, instead, say the following. You need five thousand dollars. You want to borrow five thousand dollars? I can't give you five thousand dollars. However, I can give you three hundred dollars and you never have to pay it back.

So here's the, no, but I need 5,000. I totally get it, but the difference is I don't want to have hard-hearted friendship. So instead of me loaning you 5,000, here's 300 bucks, but never have to worry about paying it back. It's such a confusing situation because I still helped and you can't walk away upset. Right. And I'm still like helping out. So you kind of, it's kind of like this. It's like, you, you, yeah. Okay.

Sure. You know what I mean? And you just kind of walk away. I think Dems have given so much that eventually, eventually, you have to stop giving them money and they're going to turn against you. You understand how this works. Was it, was it Chaz who said when he made a little bit of money,

he called all of his friends and said, like it was $30,000 long. Chaz Pell Mentari made a bunch of money, apparently. You know, he was working on projects he earned. It was a great actor and getting good roles and getting good paydays. So he said to preempt what would happen in Hollywood, where people ask him, hey, $30,000, come about $30,000, I got a script,

I'm gonna finish it, I'm gonna get development deal, blah, blah, blah, blah. Instead of that, what he did,000. How about $30,000? I got a scripting, I'm a finishing, I'm a development deal, blah, blah, blah, blah. Instead of that, what he did, he called all of his friends, I can be borrowed $20,000. And then they would assume, oh my God, that's brilliant. They were so brilliant. And it's so good. And they didn't call me up to straight.

He's about to get a million dollar check. He calls all his friends borrowed for 30 grand. They all say no. It's brilliant. Then he gets the million. Then when they call, they said, bro, you said, no, I can't, I can't do it. So in a great act, you can pull that off. Yeah. I think it's has palm. And Terry, I just him dropping the coffee cup in usual suspects when he sees the names on the board. And then it's a coffee cap said.

The name of the coffee. Yeah. Just the ms. So good. Yeah. Okay. Cool. Let's continue. Pat, you're absolutely right and so to close close close You know on student loans you have a Democrat Civil War number one number two You can't throw another in our billion on the economy and number three Now you have a voting block that feels that they got screwed because they were promised something and it's not there You know here's why final caveat. What about the people that are going to school now? I mean, are they going to be forgiven going forward in perpetuity? I mean, what if you're going to college in two years

and you have to take out loans? You know, everybody else before you had it wiped away, but you're going to be faced with this? I'm telling you, this creates such a big rift in a division. It's not a pretty side because you eventually have to say, no, this is why you have to position yourself and no. If you start now, it's just a matter of time before

they hate you. We should go deep deep deep on this. Starting January the 15th, January the 15th is the first month, the first day that people aren't going to get the child tax credit. January the 31st is when they find out that they're also not getting income tax refund. So there's going to be a lot of animosity before we get to the first month of the year in the Democratic Party, among the constituency that they're trying to buy their votes. We could go deep on this and entire podcast. Maybe we should sometime because it's also

the inflation that's happened in the cost of tuition is because the universities know they're only accepting 10% of what comes in so there's no problem with the demand and They keep raising it because they know that the federal government is backing the student loans. Yeah, and so it's The student loan program is better than the next story. Let's go to the next story So from just the news home prices at a 45-year high pricing many buyers out out of the market annual home prices were 18% higher in October Of this year than they were last October. And we're also the highest recorded in the 45 year history of a home price index published by global property company CoreLogic. Arizona, Arizona, Idaho, and Utah,

South of the highest home price increases from October to October 2021. 24%. Phanimes November 4th cast projects a median price of a previously owned home to surpass $400,000 by mill of 2023. That's insane if you think about it. I mean, I know it's not a big number when you think about some areas, but it's insane when it's across the board. It also projects that the median new home price will reach $464,000 by the end of 2020 for roughly $100,000 more than the new home prices in January of 2021. I mean, this is run off the rails and we wonder why mortgage

originations are down three months in a row. And mortgage origination is down three months in a row. Submits, yeah, apps. People put in apps. I mean, at some point, you're going to hit a pain threshold when it comes to the price. The sticker shock is going to get you. Car sales are down seven to the last eight months. I mean, sticker shock is threshold when it comes to the price. The sticker shock is going to get you. Car sales are down seven to the last eight months.

I mean, sticker shock is real when it comes to these great things. Well, part of that's inventory too. But now, it's buying inventory. If you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, if you, by the first quarter. You have lot after lot after lot after lot and Kentucky filled with Ford F-150 trucks waiting for one chip. But the I mean the inventory is sitting there ready to go. So no home prices are completely off the rails. We get a weekly report from the Mortgage Bankers Association to Fannie Mae's estimate. The average loan, as of yesterday's data was $406,800. The average home price in Austin, Texas,

median home price in Austin, Texas, $455,000. So the lower cost states are pricing themselves out of the market, as Californians are moving in, and they're like, it's a buy one, get one free sale. So they come in and they buy one, because they do the tax math of getting out from underneath that terrible tax burden in California. And they're like, I can buy this house.

I'll give you two anecdotes real quick. Sean does ank, our beloved ank, former belly dancer by the way. That makes her a beloved. Exactly. But moved to being in our house when we were living in Phoenix, bought a house, I think, of about 140, 140,000. Sold it, she moved to Missouri, sold it for like 450, had a bidding war.

And then I had a friend that goes to Corde de Laine, Idaho, and you mentioned Idaho, Pat, and one of these states were the price there. That's right. That's right. So he used to go back and forth to Corde de Laine, a little vacation home that he built a house recently, within the past year. Built it. I mean, beautiful, like a four seasons, really nice interior, guest house, the whole thing.

All in at 3.2, there's going to be the place where they're going to spend half the year. Constant knocks on his door, never put on the market. Finally, someone knocks on the door and offered him $7.5 million and he took the deal. Didn't even live in the house for less than a year. Someone offered him $7.5 and he had to take the deal. So it is crazy. It's absolutely bonkers. Montana is number one. There's a little town in Montana. Austin, someone offered him 7.5 and he had to take the deal. So it is crazy. It's absolutely bonkers. Montana is number one.

There's a little town in Montana. Austin, Texas is number two. Boy, Zio, ito is number three. The three hottest housing markets in America. White fish. Let me ask you, how much is rent up? Have you set those numbers? 10%.

OK, so I'm looking at the real.com. I'm going to send this to you if you want to kind of, matter of fact, just go type in the following. Type in is rent up. Just type in is rent up and then go to news. Go to news. Yeah news and then go to the second one. Yeah, right there we go. This was fast. Tyler, this was the best one so far. So that was a good assistant. Okay. As rent explodes say, there you go. As rents ex rent explodes nationally, New York City tops the charts, go a little lower.

You know what I mean? Biggest comebacks in two minutes or at least last time in the city apartments were on discount rack rents had fallen 14% in 12 months. Since then, Gotham rents are up 32% fourth among U.S. cities according to a new report from Zomper. The median price for one bedroom is now $3190. It's officially surpassed San Francisco. And nationally, rents are up 11.6%.

About where they were last year. So, okay, so if rents are up 11.6%, but real estate is up 20, what's the number? 20%, 25%, 18 to 20%, unless you say? 18% nationwide. What does that tell you? What does that tell you if the prices are going out of faster pace than rent is?

Does that reveal anything? Right now, buying a house, relative to renting, buying a house is the most expensive it's ever been. As high as rents are, I've got the data. Yeah, and then think about taxes. And that is a brain twister because the rents are going up so fast. Yeah, so are you saying it's a better time to rent than it is to buy right now? Believe it or not.

Well, but you have to remember, rent increases is a trailing indicator because first you have the price increase. And one year after the price increase, you have the property tax readjustment based on the sale. Sure. Then you've got the insurance it increases based on the, the, the, the, the, the value of the underlying assets. And now the insurance it increases based on the, the, the, the alarm, the value of the underlying assets and how the insurance is up. So what happens is rent usually increases usually follow housing price increases like six to

nine months, you usually follow them. And right now is how many private equity firms are dedicating themselves to real estate portfolios and are buying up single family units? There's 75 billion dollars has been invested in this single-family build to rent. Not buy to rent, build entire community district. So she was about to have a pack of cash on it. There's a suburb outside of it. Property owners and the private equity sector. They're massive.

And the average American is going to be pushed into renting because they can't afford to buy. They can only afford to rent, but then the rent's going up. So you asked about rents. So single-family homes, because this is a big Wall Street baby. This industry is loved by Wall Street. So Blackstone has the largest single-family rental home, rental home.

I saw that. Invitational homes. So they're bragging on their most recent earnings call that for new leases, when they get a new renter in there, they're getting 18, 19% over the past year. It's actually a brilliant move. 18, 19% and your head is going to drop.

There are suburbs outside of Atlanta. There are certain areas that are starting to clue in to the damage that these private equity firms are doing and saying, go away, I'm not permitting you. I'm not giving the permits to build this subdivision because you effectively create like this entire generation of slaves and they're in the right school district and they're in a home that their family wants to be

and they feel like they have home ownership but they're actually slaves to these massive above market rents way above what you would for a multi-family at part men. And but they don't want to move because they're in the right school district. to these massive above market rents, way above what you would for a multi-family apartment. And, but they don't wanna move because they're in the right school district. And they never, they're paying such high rents that they're never saving up that 3.5% for an FHA

or 20% for a regular down payment. It's a way to ensure that there's a cycle of poverty. But let me ask you this. So Blackstone is not gonna do this and make an investment just because of 12 months. They're not doing it for 24 months. They've been doing it for years. Yeah, yeah.

What I'm saying is if you're doing that, you're foreseen renters surpassing buyers at a tremendous rate in the next five to 10 years, you wouldn't do that just for one or two years, right? But that's why they're going into secondary and tertiary markets. That's why they're building these communities in the excerpts, whatever is North of Frisco in Dallas. They're building communities in Prosper. I got you.

But they're doing it because they have to, because lot prices are so high, land prices are so high, that in order to make these crazy, internal rate of return assumptions work, which you're, that's what you're speaking to. Yeah. That they've got to go out into the Dan Hinterland. Schwartzman is a genius.

He's not going to make this big of a bet. If he doesn't know, it's going to be a good bet for the next five ten years. And who just retired from Blackstone? Tony James, the number two. And who sold the firm that I used to work at? Tony James at the top of the market in 2001. Thank you. Are you giving us something there?

He just retired two weeks ago, Tony James, the number two at Blackstone. Which means what? Well, some people know when to take the money and run Okay, so I didn't but that tells me a different story because what I'm trying to get to is the following So imagine a buyer's listing right now or he knows how to top the market Because he did it when he sold deal Jake. How old was he when he left? Tony James? How old is Tony James? Tony James is probably 70 maybe. Okay. If I had to guess.

Fine, 70, I mean, you've made your billions, you want to go kick it a little bit in. Shortsman 74. But Shortsman is a psycho-competitor. Shortsman is not a regular guy. Shortsman is like some of these guys are not going to slow down. If you ever read his material,

the guy's freaking sick. I'm a Shortsman fan, I think he's a guy that. I'm aware. Yeah, he is, I think he's a guy that. I'm aware. Yeah, he is. I mean, Blackstone's real estate portfolio loans about $56 billion. They bury any player in the private equity real estate space. And they were an LBO model.

They were more of a leverage buyouts model. Oh, no, no, no, no. You want to talk about the whole thing? That was like $300 billion. I mean, there are monsters. Yeah, yeah. So one question for you? Yeah.

So before we go to the next story, there's one question. So average Americans, an average process oriented jobs, work from home, which sure help these private equity firms that are building these massive portfolios out from city center, wouldn't it? The Bureau of Labor Statistics has reported that 11.1% of Americans are now working from home less than a third of what it was at the peak of May 2020. And now they're working from home 30 miles from downtown.

Like a giant. American companies are demanding people come by. They have the private equity firm and they have a nice school and a nice life and higher risk. Then that's a shift of, that's a paradigm shift. It's a shift. We're down a paradigm shift. That's a shift. We're down to 11%. No, it's with your power.

You're correct. You said they're thinking five, 10 years out. Yes. These guys are not dummies. Listen, when I see people like that, they're not dummies. When I see politicians, that's a different conversation. Yeah, but remember, they created this model. Now the rest of the world is following them into this model.

Yeah, but are you saying this is a negative? I mean, it's basically a glorified apartment complex with nicer homes. It's only a negative for the people paying those rents. Yeah, but they're making that choice. I mean, some people might want a nice house with a pool. You know, that's 30 miles outside of downtown. Yeah, they are making that choice, then. You know, you can't say they're not making that.

They're not, but I'm, but we do know from the real labor statistics that in May of 2020, there were more than three times the number of people working from home than there are today. It's just 11% of people. And there used to be a moment, or a moment at a moment. Outside of New York and California, people are actually back in the office. Just out of curiosity.

I mean, the out of complete question that's off topic. But it is somewhat with the topic. When do you think everything will be back to normal with COVID? Like 100% like a hundred percent. A hundred percent. Maybe never, maybe never. I don't think business travelers are ever coming back the way it used to be.

Okay, but wait a minute. You're saying, are you part of Never Camp? Well, I'm part of the camp that COVID is being used politically and as a weapon, and I think they're gonna hold onto that as long as they can for some degree. So I don't think it'll ever get back to how it used to be. What do you think?

I, you know, I see a lot of busyness outside of New York and LA. I see a lot of normal scene. So your saying it's going to go back to normal? I'm saying I'm seeing a lot of normal. That's good. So what do you think? What's your timeline? What do you think? If you were to guess the made embed $10,000, what would you say? I mean, this all my current thing, whatever it is that's apparently not as bad as normal. And they've said it. They've said it right off the bat. It's not took a couple of weeks to say it's not that bad. But there's gonna be the next thing that comes out, right? When do you think it's gonna be back to normal?

I think we're gonna get about 85% back to, 80, 85% back to the old normal, but there's gonna be a bunch of new normals, like work from home for processing jobs. It's a new normal, less business travel, I think we're gonna be a new normal. But I think we're gonna get back to a point where we go to the restaurants,

you can go to the ball game, you can go to a party at an event place. What's crazy is everything you're saying in Florida, it's all normal. Like nothing's changed. I'm talking national. I know, that's what I'm saying. Like what you just said.

I'm talking about California. Yeah, without California saying, oh my God, I'm being in the nanny state. Yeah, okay, let's go to the next story here. Let's go to the next story. Let's see which one we're going to go to. Rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr phone calls said Russia was behind it. Trove of 1,500 documents revealed. This is on page five. Biden said he wanted to do this.

They finally did it. More than 1,500, I'm sorry, I'm sorry, I'm not public, I'm sorry, I'm sorry, I'm sorry, I'm sorry, okay. They include memos detailing anonymous phone calls

from a US embassy in Cabrera, and Camberra, Australia, a year before the shooting, where the caller said the Soviet government was plotting to kill Kennedy and details of Oswald's meeting with a KGB agent at Soviet Embassy in Mexico City two months before the shooting where the caller said the Soviet government was plotting to kill Kennedy and details of Oswald's meeting with a KGB agent at Soviet Embassy in Mexico City two months before the shooting. Another call was placed on November 24, two days before the shooting, claiming the Russians

were behind it. Earlier this year, Robert F. Kennedy, JFK's nephew, which I'm about to do, debate with him in the next two weeks with him and somebody that he just wrote a book about Fauci, and it's not the nicest book about Fauci. It's amazing. You read it all up. Part of it, I started a good friend of mine,ci. It's amazing. You read it all up. I'm part of it. I started a good friend of mine, turned me on to it, who read it,

and he told me all about it. Unbelievable. Yeah, we're doing that. He's debating somebody over the topic in the next couple of days. Cheryl Heinz, husband, from Kirby, you're using the asm. Yeah, okay.

You've talked to RFK before. Let me finish this time. Let me finish this. So JFK's nephew, a fume that some of the files would remain secret until next year. How the hell is it? 50 or eight years later. And what in the files would remain secret until next year, how the hell is it? 50 or eight years later,

and what in the world would justify not releasing these documents, RFK said? By the way, these are not all the files, some of the files are gonna release next year, and some of them we may never find out about. Do you think Tom, because I know you follow this story, you're somebody that's also curious about this tab,

you and I have talked about this many times, do you think we're gonna learn anything new? No, I don't think so. There was the speculation that the Russians were involved, that the Cubans were involved, that felt betrayed by the Bay of Pigs, that the teamsters were involved, that Sam J. O'Connor was involved. And what I find interesting here is,

they're all pointing back to Oswald, which points back to the single gunman theory, which is the one thing that every scientific analysis of all the echo and everything in the tapes, and Clint Hill, who you spoke to. The last, I think, is the last living person that was in the first two cars. So, you're saying nothing. Is anybody thinking anything new is going to come up? Nothing new, nothing new.

Nothing at all. They'll never reveal the stuff that actually tells you what happened. Because somebody has to know. Do you have a crazy theory on what you think happened? Like 10 seconds. What do you think happened? Two options. Internally, mafia because of dad, Joe, or Russia has to be involved. What do you think, Danielle?

I'm with my daddy with a bootlegger. Yeah. You know, here's the thing. How does a secret like that stay a secret? I mean, I know people that were, when I go places, people tell me things. I don't know what it is. You know, people just open up. I learn who's sleeping with me. They're like a priest.

They just feel comfortable telling me things. Wow. And I just, I don't know what it is. So maybe it's my nice guy vibe or something. But how do people keep secrets like this? How does not one person reveal what happened? How do we not know? How is it even possible?

Someone has to know, and it sure is the heck isn't one gunman. There's just no way, it's impossible. I mean, if you go to the JFK, you know, the site where you go to the building, there's just no way, it's impossible. They play the tape and they show you four echoes. And then why was it so important to kill them the next day?

I mean, this is so fascinating. I wish we could learn There's a lot of stuff there. I know I interview Jack Barsky two weeks ago his interview came out yesterday Jack Barsky was a former KGB member from German. He got recruited one to Russia. They trained them and then he came out He did espionage. He did everything So I showed him a video of Yuri Besmanov. If you've ever seen Yuri Besmanov's interview before, it's pretty sick where he's talking about the whole subversion and what they do and how they train

and how Russia's trying to take over US by getting their philosophies of Marxism and universities and professors and teachers and get the youth. And eventually like today's modern day of UC Berkeley, it's what they essentially were talking about and they've been successful. So I asked some of these other things about the KGB. So it was KGB involvement.

No, let me tell you what we did, the KGB. Number one, Jayette Groover was never a cross-dresser. We planted that. I'm gonna stop. Well done. He says he was never a cross-dresser. We told him and threatened them that we're gonna do that. You know what else?

The eight scandal, that was us. We made that eight scandal in America. We did that. I'm like, dude, I think you're gaslighting me right now. But anyways, no one's gonna know. It's a story. It's another great opportunity right now for someone in Hollywood, Steven Spielberg to make a JFK movie right now.

All of the time, you're be an opportunity for the one. It's better. Change the angle and bring the mob and maybe tie, you know, got father four coming out with JFK's assassination link to it. Who knows? Do you think the immediate Kennedy family knows what happened? Just Maria did a Jackie know. Is it knowledge that's common at least for some circles?

The C.A. is known as one of the greatest environmental attorneys America's ever had. Okay, that's what RFK's reputation is, right? In the environmental attorney side, he is the best, right? When he and I spoke to for some interview to my brother, the whole JFK assassination conversation, this is a guy that explained it in such an eloquent way that to him, he When he and I spoke to first time I interviewed him I brought up the whole JFK assassination conversation This is a guy that explained it in such an eloquent way that to him He spent his entire lifetime trying to find out what the hell happened because it wasn't just his uncle It was also his father. It's emotional to this guy. So I guarantee you they know more than you and I think They know I So I guarantee you, they know more than you and I think they know. I buy that.

That I buy. I think they know. I think they know. Maybe we'll bring Garfgane up. I'm not sure. You're really interested in about conspiracies and history. What's that? Right.

So the mob always thinks that conspiracies bigger and there's more angles to it. But the, when you take a look at the mafia and the conspiracy of kills around the families, conspiracies only stay quiet long term if there's a small group of people and then what you'll always look for is the second kill. And so when you take a look at what happened with Kennedy, if Oswald was one of the gunmen, apparently he was, then you look at the second kill. Well, that was Oswald. And so a small group of people that then offs some of the people that were executing it, that's how the conspiracies work and that's how they stay secret. So when you look at things long term, if it's a big giant conspiracy, you know, it always leaks out and the truth kind of comes around. When it's a small conspiracy and you have the second and the

third kills, then it stays quiet. So you're better off not knowing because you might be dead. No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,. If you read up his legacy, the way he was wired, who he was, he hated Kennedy. When Kennedy called him to be the VP, he's like, who the hell do you think you are? I'm supposed to call you. I'm the candidate. You don't call me and tell me to be the VP.

I call you and tell you do you want to be my VP. I mean, Lyndon, that was his fastest way to be an A president. He was a pragmatist. Who knows? I mean, I'm not telling you, he did it. He was a pragmatist. He was a pragmatist. Who knows? I mean, I'm not telling you, he did it. All I'm telling you is if he was that motivated to be a president, strategically, he got it done. Kay and his mistress had some stories to say about it, but...

You're right. And Catherine Graham's biography, who used to be the publisher of the Washington, of the Washington pedestal, she tells all the bloody stories about the behind closed door in Lyndon Johnson and how he and JFK he hated JFK Yeah, and her husband was in the room so it's 9 to be one hour It's up to the assassination Lyndon Johnson started to Vietnam war After the French advisor has had screwed up and lit the tender box I mean you just look at things like that and it's it's a nasty nasty guy

I mean, you just look at things like that, and it's a nasty, nasty guy. So here's a one thing I think about. Any president that was ever assassinated or character assassinated typically scared a hell out of the establishment. The establishment likes to pick who becomes an ex-president. The establishment doesn't like you to pick who becomes an ex-president. The establishment likes to pick who becomes an ex-president.

As long as it's within the crew of who we are, okay, cool. We're gonna be fine because we'll still have our card, we'll still have our parties, we'll still have the country club feeling, all that other stuff. You bring one of these guys that Lincoln out of nowhere comes in or you get a freaking, you know, a Reagan who goes from Hollywood and comes in and you were fine to come in us and you want to come in and be the president. What are you talking about? You talk about John F. Kennedy and your father who is Joseph Kennedy. We don't like people like you.

Trump, we don't like people like Trump. So, yeah, I don't know. I don't know if the establishment likes people like Lincoln, Kennedy, Reagan, or Trump. They're not big fans of them. Not at all. This is why we ought to be very grateful to have a person like Biden right now in the White House, because it's just a very... Hey, you found a positive from him.

That's great for Biden. No, it's... I've been reading a lot of Norman Vincent Peale. Give me a break. We've gone from clinically insane to medically dead. Give me a break. Danielle. Danielle, but you didn't support the alternative.

What alternative? When the alternative happened a year ago. You didn't support the alternative. We have two choices. Two choices between clinically insane and medically dead? What alternative? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that?

Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that?

Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? Are you saying that? and they were both Democrats. So you see Trump as a Democrat? A New York Democrat who gave to both of Kamala's campaigns and they've got Kamala locked in the basement summer.

By the way, there is a precedent, we were talking earlier about Biden being replaced. We forget that Spiro Agnew was replaced during Nixon's term. So there is a precedent for taking your vice president out. Just saying. Well, if it's just bad after one year. And Spiro Agnew was replaced for the equivalent of a parking ticket nowadays. Vice President out. Just saying. Well, it's just bad after one year. And Spiro, I knew, was replaced for the equivalent of a parking ticket nowadays.

All true. And then eight months later, Kennedy was at, uh, uh, uh, uh, uh, mix mix. And he was out of office. And then they put Gerald Ford in. So is it a form of blaming somebody else? It's like shifting blame? Is that kind of what you're thinking? I, I, from everything I've heard, you can't even put Biden and Harris in the same room together.

He actually wakes up and gets angry enough that he's like, actually got a pulse. That actually could be a good thing though. No, like that can get a pulse. Maybe they should put her in the room right before his press conference. Good morning. It keeps him alive. No, they need to put her in the room right before he goes up to the podium for the press conference because it'll be like oh

Now we can do the conspiracy loop. Sproul Agnogon Gerald Ford becomes the vice president Gerald Forbes on the Warren Commission the Warren Commission investigate the Kennedy assassination Gerald Ford had he cheated the election on Nixon. Gerald Ford was a complete badass. I'm I'm gonna I'm gonna stand up for Gerald Ford here. He was a military hero He was a bad-ass football player at Michigan. I mean, two seasons undefeated. Gerald Ford was an amazing... He screwed up, Tom.

Amazing president. Okay, you guys went from sisters to now enemies. In 30 minutes. Gerald Ford. Let me change a story. Let me change a story. Gerald Ford's career as a running back. Is he really into Trump? No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no use the event to recruit potential members to the organization. Blumenthal won the wealthiest members of the Senate,

present a certificate to special recognition from the Senate to three winners of the Amistad Award given annually by the Connecticut People's World Committee affiliate of the Communist Party USA in the Marxist People World, new side Blumenthal was introduced at the event by Lisa, a Bergman, a Communist Party member who blamed corporations for imperialism that exists in our world that is undermining the labor and environment. If you are not part of the Communist Party member who blamed corporations for imperialism that exists in our world that is undermining the labor and environment.

If you are not part of the Communist Party, we invite you to participate and contribute and join. Bergman said after Blumenthal's speech, there's more and more people talking about socialism in this country as it becomes more and more clear that capitalism is not going to work for our future. Thoughts on that, Thomas. Well, you have to remember, can you pull a blue month off? Just pull a blue month off. Capitalism builds the engine, you know the taxes? Is he running for office?

That socialism uses, because you cannot perpetually print money, otherwise you end up like Greece. You know what, in 1980, 1990, this guy did this. Can you imagine the uproar? Remember the anti-communist sentiment that was back there?

And this guy had done this 15 years ago, 25 years ago, it would be political death. You should be. Is he up for re-election next year? Curious. Now, take a look at the picture, he's up for embalming. That's the most disturbing story in our whole portfolio here today.

This one, I mean, this one really pisses me off. How this guy can actually show his face there and do this. By the way, he's worth $100 million. You know where the money come from? His wife, his wife. It's all real estate holdings. By the way, they own part of the Empire State Building. I know that's part of their ownership stake is, part of their wealth is owning the Empire

State Building. Do you know who he beat? Just a humble wife from Brooklyn. You know who he beat? He beat Vince McMahon's wife. Remember when she ran Linda McMahon back in back in 2010. Yeah. So if we should have gone with the WWE character back then, we'd be in a much better place. But how can he do this? How, how is he not just kicked out of the Senate? This is unbelievable that he would show his face here, be active with this role. This is shocking.

I'm really shocked, because I literally, I'm not being inflammatory here. You go back 25 years, you go back 15 years, this guy would be on the headlines of every news and would it just been political death? Did you see Kevin O'Leary and Bill Mar? Did you see Bill Mar and Kevin O'Leary together on the show?

Can you pull up the transcript? Kevin O'Leary and Bill Mar? So. Can you pull up the transcript? Kevin O'Leary and Bill Maher. So he went up there and Bill Maher, okay, who is a liberal talks about capitalism. Yeah, exactly, that's plenty of it. Just typing capitalism would have come up. I don't know what I'm talking about. Bill Maher and Bill Maher and Bill Maher,

these people, Sharjana and Bill Maher workers are never. I wanna show the video, I'm just worried if it's gonna stay those Bill Maher workers are never, I want to show the video. I'm just worried if it's going to stay up or not. That's the biggest concern if it would stay up. 28 seconds. If you don't understand, click on that real quick. Click on that real quick. Is it their YouTube channel or is it Twitter?

Uh, Yeah, we probably can't show that. So you may want to pause it. So anyways, they talk to each other. Bill Maher says, I'm a capitalist. Capitalism works. Capitalism has been the assistant that's helped America want to pause it. So anyways, they talk to each other and Bill Marcez, I'm a capitalist, capitalism works. Capitalism has been the system that's helped America get to where we are today.

So, then you get communism, a speaker like that speaks out of communism. I wonder what CNN is saying about Blumenthal. Has CNN said anything? Has MSNBC said anything? That's interesting to see. Yeah, because there's gotta be something we're all together on. And CNN is anything. Has MSNBC said anything? Interesting to see. Yeah, because there's got to be something we're all together on.

CNN is shifting. I mean, right now, CNN is shifting, not centrist, but they're moving off of hard left in some of their news coverage. You see it on the White House. You see it on Kamala Harris. You hear it on Saki. So there's something inside CNN that's turning it down from 11 down to about a half. We do.

I totally agree. And so, Jay Tapper, especially. I want to hear one of those kind of pick up on this. You want to hear what he says? No, I want to hear one of these mainstream news bits kind of call out these things and talk about. Look, Omar Orova stepped down. I mean, look, look, the strange thing about what Blumenthal did is that the

winds of change have already blown. Virginia's happened. It's in the history books. And, you know, to continue to insist that this is going to... I like what you said earlier. Let's just sit back, eat popcorn, pop open a beer, and watch the left side of the Democratic Party rip itself apart. It's in a civil war right now. Okay, so check this out. I just typed in Blumenthal. Type in Blumenthal, Communist Party, and then go to News.

Okay. I just leave, okay, go to all first. Go to all first. Well, there's the post, but you would expect that. Okay, if you go to all all New York Post. Okay. I got it. That's gonna be on one side Fox news fine Yankee Institute fine National review there you go good. So let's see how national review puts it go on national review go on national review Send room of Delaware speech comment inspired here. Let's see how they write it how they word it keep going up So we're gonna one of ours a deliver the speech. I don't want some comments about it Send a warm love, Delaware speech, Communist Party. Let's see how they write it. How they word it. Keep going up.

Some of the more diverse of Delaware speech, I don't want some Communist Party. Blumenthal 10 events was, which was used in part to recruit new members of the organization, presented, certainly gives them a chance. And then the Communist Party is a affiliated Communist Party. Okay, keep going a little higher. Keep going a little higher. I'm really excited about an honor to be with you today and share in this remarkable occasion. Blumenthal uses a special general president Biden's bill

back better agenda and the MacRadio House, including $15, the Connecticut Democratic House, and the Calma holding corporations accountable. Blumenthal was invited by the Communist Party and ceremonialists, but if you are not already pocketed, I mean, there's nothing bad in the Senate. Everybody is trying to balance the balance. I'm pressing this.

Blumenthal has worked $100 million largely because of his wife who is a member of the Blue New York Ruralist state dynasty. He has come under fire for being unaware of all of his investments, including in the US Shanghai, LLC, a Ruralist state company connected to Chinese government, according to Washington Free, Beacon, Gollular lower, Gollular lower.

Gollular, okay. Yeah, I mean, look, if you, again, if you guys are not on the same page about communism not being, this was already addressed 50 years ago. You thought this was over with, exactly. This is political treason if you ask me. I mean, to go out there and support communism like this, and you asked if he's up for a reelection,

he was elected in 2010, so he will be up in 2022 every six years. Good, I'm gonna go back in a citizen of the state of Connecticut. Maybe he's out thinking all of us, and he's making himself such an unattractive candidate to make sure that it flips in Connecticut and he gets Republican in there. Well, let's go to a different story. Let's look at the low literacy levels among US adults could be costing the economy $2.2 trillion.

This is on page three. A new study of Gallup. This is a Forbes story. A new study by Gallup on behalf of Barbara Bush Foundation for Family Literacy finds that low levels of adult literacy could be caused in the U.S. as much as $2.2 trillion dollars a year. According to the U.S. Department of Education, 54% of U.S. adults, 16 to 74, about 130 million people lack proficiency in literacy, reading below the equivalent of a sixth grade.

Wait, let me say that one more time. I'm blown away right now. According to US Department of Education, 54% of US adults, 16 to 74. Okay? That's 130 million people. Lack proficiency in literacy, reading below the equivalent of a sixth grade level. The average annual income of adults who are at minimum proficiency levels for literacy level three is below 63,000 dollars significantly higher than the average roughly 48,000 dollars earned by adults who are just below proficiency level two and much higher than those levels at level zero and what you're 34. If all US adults were able to move up at least to level three literacy

proficiency, it would generate an additional $2.2 trillion of annual income in the country equal to 10% of GDP. Tom. It's unbelievable. If you had read me the details of this story and said, what is the percentage of this being true? I'd say 1%. I'd say there is no way that this is, but it is true.

It's incomprehensible. 130. That's over a third of us right now. It's kind of well over. Well over. Well over a 335 census. Here's the over a third of us right now. It's over. Well over. Well over a three 35 census. Here's and yet you've got this. I mean, you know, and then you have these big cities where it's really, really bad, you

know, in L.A. New York, Chicago, San Francisco, you know, they said if these big cities, if 10%, they said the GDP would increase more than 10% in these big cities if they just got everybody up to the sixth grade level. That is mind-boggling. And here, think about this too. What's happened in the last year? Kids aren't learning anything, right? Especially in big school districts in the big cities.

It's a wasted year and it's probably a wasted three or five years because they don't care. Parents can't force them to go to school. So now you're raising a whole new generation that can't read or won't read. And it's the most easily fixable problem there is. I mean, if you think about it, to teach people to have, you know, just remedial English skills is not that difficult

if the country wanted to, you know, embark on it. It's kind of difficult to get rid of teachers' unions, though. So. Well, what do you think about this, Daniel? What do you think about this? I think this is the teachers' unions. Can you unpack that? Look, if COVID has taught us anything,

it's that the teachers are not advocates for the students. The teachers are advocates for themselves. And school districts, the way that they're designed, the money goes to the administration, there's way too much in the way of management. You don't pay teachers enough. We've learned that you can, you could theoretically just go virtual.

You could go virtual in the classroom. You could hire somebody for a million dollars a year, a rock star teacher, and have him teach the kids, and have him be engaged, kind of like, I don't know, a J-Leno or something, but just pay him a ton of money, and then teach these kids, and you could do that, but you'd have to disband the unions. Wait, Tim, are you saying that you could do that virtually? Because I don't think kids would still- No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, and you could do that, but you'd have to disband the unions. Wait, Tim, are you saying that you could do that virtually

because I don't think kids would still- No, no, no, no, no, no. I am saying that you can do virtual teaching if you get somebody who kids are like, hot damn. I'm talking about like a rock star. I'm saying, deplete the pool of educators in this country to where you get it, to where you're talking about people who are so engaging, people are like,

this is better than TikTok. I've got to go see this person. Because you don't pay teachers enough and you pay administrators too much. And it's the structure of teachers unions and they've screwed over children. And I think that they should be, I think collective bargaining should be made unconstitutional.

I look at teachers unions right now and this has only happened in the last year, year and a half. They're a political organization. They always have been though. Yeah, but they're more in your face about it now. And it's more evident that that's their strategy. Yeah.

And it's all this great inflation, or deflation, or whatever. Let them pass. Give them trophies for participating. I can't believe this. It's a sixth grade reading level. That's unbelievable. But by the way, for participating. I can't believe this. A six-grade reading level. That's unbelievable. But by the way, let me tell you why I like this.

I like this because it's selling me. So, but this is being written by who? Can you look at who wrote this article? Who's the person that wrote this article? Don't, I know it's Forbes, but I want to know who wrote it. Right, but you have to be careful of Forbes. I thought Forbes is owned by the... Well, then Forbes did the 40% is China on on a report on a on a big

government no but go to that article Tyler and let's see who wrote it. That's like the USDA report that said that food stamps need to go by 32% that one. Editors pick Michael who is he? He's a contributor. I'm a former university president who writes, high-region, Google him, Google him, take his name and just Google him. Yeah, there's a little bit of a written college. I was a water PhD in clinical psychology from the University of 1973.

All right, let's see who you are. As a retired national and as a retired National Missouri University professor, and prior to that, it was promised of a university can't talk. You have to return as president. It's almost a Missouri governor, Jay Nixon. Okay, governor Jay Nixon. I hope he's the one who read this 52 minutes ago, the intellectual freedom that made public colleges great is under threat.

No shit. The intellectual freedom that made public colleges great. Okay, go in Washington Post. Go, by the way, Tom, who's Jane Nixon? Washington Post is trying to do a little bit of CNN by the way. Former governor of Missouri, right? I get that, but I mean, who is he?

Like, what was he, okay, Democratic party. He's probably a monarch. Someone's on the move. Okay, it's very hard to be a hard worker. Go to a mic's Twitter account. There's a bunch of psychologists. There's a bunch of them. There's an election freedom that may poke.

Okay, go to that second article right there with Washington Post. Yeah, right there. Click on that. The intellectual freedom that made public college great is under threat. Family members at public universities are under fire in numerous states, faculty members at public university. The face, they face a serious and grown threat to the academic freedom that lets them choose

their research topics and determine what happens in their classrooms without political politicians looking over their shoulders across the nation. State legislators are proposing laws to limit the teaching of certain viewpoints on campus, curb the 10-year system or otherwise blur the already thin line between higher education and state politics. If states continue down this path, they will undercut the excellence of their own institutions

of higher education, some of which will currently be counted among the best university in the world. They could send these institutions to Downworld Spiderman's Gap of the NXL and intellectual freedom, secured out private university. That's good. This is good conversation that they're having about. I'm sorry. I'm sorry. I'm sorry.

I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry.

I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm sorry. I'm to me, to me, I want to know what the Dems and Republicans agree on.

What do we agree on? Can we agree that China is enemy to state number one? Yes. Okay, great. Can we agree that communism doesn't work? Yes. Can we agree that socialism doesn't work? Yes.

Can we agree that the best social programs are created by a capitalistic system? Yes. Let's go through these things that we agree on. Okay, why don't we all, let's disagree on whatever you want to disagree on. I mean, you were formed welfare, Bill Clinton. Yeah. Then let's go write these things that we agree on because the direction this article is going to challenge people to get better, let's end it's wrong, you go and increase your

value in the marketplace. I love that. I think that's fantastic that that conversation is being had. Andrew Cuomo ordered to return $5.1 million pandemic book profits to state. You think that'll ever happen. This is a New York Post or New York top ethics panel on Tuesday ordered disgrace ex-governed Cuomo to pay the state $5.1 million in book profits. He made on the backs of taxpayers and made the worst of the public of COVID-19 pandemic.

The extraordinary resolution was approved by the Joint Commission on public ethics a month after the ethics agency voted to revoke its prior approval allowing Cuomo to earn outside income from his book, American crisis leaders mentioned, while he was still governor New York was in the thrones of the Delhi coronavirus, they rescinded its approval after concluding that Cuomo violated pledges not to use the state's resource or government staffers to prepare the book. He must pay the money to the state by next month. Do you think this is going to happen? Hold my dear. Yeah. You know, I, where were you when he was writing this book? Everybody was, you

know, so supportive of him and they loved him. They should reclassify this book from nonfiction to fiction, right? Now, now for what we know of how we handed COVID. Yeah. So the advance was five million. He says he got two million, right? A million, he put in a trust for his daughters, a million of that. 500,000 he gave to charity. There's no way they're going to claw back any of this money.

Here's the thing with the Cuomoes. These guys are such fighters. I mean, these guys are brawlers. They're old man, the former Mario Cuomo, the old governor of New York. I mean, he was a tough dude. I think it's gonna be fascinating to see what happens with Chris Cuomo too, right? Because someone has to scoop him up.

These guys will tell secrets, I think. I don't think Chris Cuomo believed everything he said when he was on CNN. And these guys, I think this is a treasure trove of information if you could get Chris Cuomo to open up about some of these I think Fox News should hire him by the way, but here's the other thing I saw from this story The FBI is investigating it as well to see because he had staffers working on this book

Which is illegal allegedly right so he had a lot of his staff doing the research helping to write this book and And you can't do that so they have some I think some legal grounds to try to go after this money But he's going to fight it. You already heard the quotes from his lawyer. I'll see you in court. So what do you think? I'm with you.

I think I'm Italian. So everything he said I agree with. And Mario was a badass. And they're likely, and I think your idea about Fox News is brilliant. Mm-hmm. By the way, with that story, with Fox News story being brilliant, you saw Wallace went to CNN, right, on their app, and then Howard Stern says, who gives a shit?

No one watches CNN's apps anyway. So what are you going on there for? And then what's it called, Brian Williams resigned? Yeah, he left. Yeah, so he leaves Wallace to CNN. What do you think about what's going on here? What did that negotiation sound like with Wallace? Was it kind of like, well, CNN, you're in looking to good.

I think it's a good time. You hire a conservative. I'm a good guy to hire because I'm pretty safe. But here's what I want from you. If you give me these things, I'll come. If you don't, I'm not coming in. A CNN needed that victory to say, we got somebody from Fox. You think that's the play? No, I don't know because if you take a look at Chris Wallace,

he was not expensive. Brian Williams was very expensive. What was Fox paying Chris Wallace? Well, Brian Williams was like at four and a half a year, and they were stuck with him because it was this long-term contract, and then he had the, you know, I was being chased by helicopters, we've gotten fire and everything like this, and the LICD told about all that. Yeah, I think he was making more informed.

Seven million. Wallace was paying paid seven million by five. That does not. That's insane money. That's insane money. I'm telling you right now. You know, it was made seven million years. What was right?

15, 20. I mean, when he was when he was doing nightly, he was making 15, that's an old literature. Mm-hmm. You know, but you're right, Patrick, there's a lot of shuffling going on. Chris Wallace also has the name Mike Wallace. You know, he's got the lineage there.

So there's there's 10 million. I get Chris Wallace is a Democrat. And a lot of Fox news watchers were getting irritated with him. Just like they were. I like I like I thought he was a fantastic. I like Wallace. There's a very famous. I knew that he did with Bill Clinton.

Bill Clinton came out of the shoes and was leaning into his face. Right. Just real. Yeah. Well, remember when he moderated the debate and everybody leaning into his face. Right. Yeah. Remember when he moderated the debate and everybody was all over Chris Wallace because he wasn't hard enough on the Democrats, you could kind of see that, you know, he really did. And after 18 years with Fox News, you probably want to go somewhere else and have a little

bit different perspective, spin that you can put on stories. And I think it's, it's not just a show. It's, it's CNN digital, right? So it's going to be a different type of format. He probably just needed a challenge in his career. Yeah, but it's just like Katie. Can you do me? Katie who?

Bill O'Reilly is faded into the oblivion. Yeah. Yeah. And Katie Kirk, but different circumstances. He was ousted because of sexual harassment. True. And nobody else hired him. He's going to be front and center at CNN.

Be the face of their digital. I bet they paid him 12 years. What do you think Brian's going to be doing next? Brian CNN, be the face of their digital. I bet they paid him 12 years. What do you think Brian's going to be doing next? Brian Williams? I couldn't find CNN digital. I can't even Google CNN digital. I don't think there's any market for Brian Williams whatsoever. I don't think he'll get a job.

I don't think he'll get a high level network job, no way. I don't see him being savvy enough to go with a Glenn Beck route or anything like that. He doesn't have any particular views that you buy into. I never bought Brian Williams in general. No, because he doesn't have a magnetic position. There's not a magnetic position the way they're always was for rush. They're always was for Beck. They're always was for hand it.

You know what I'm saying? They have that center that's at the call to personality. I think you have to have enemies to be cult like. Brian Williams wasn't necessarily guy that had too many enemies. He'll be like that Matt Lauer just fade away in the Hamptons. To warn him you discovered the old means for CNN and Jeff Zucker. What am I looking at?

CNN is about to be acquired by Warner Media and their ratings are obviously tanking. So you have to wonder between Chris Wallace, Chris Cuomo, etc. What are they trying to do? They're trying to shake things up. They're trying to get more moderate to bring their ratings up. Like they have to do something. They're sinking. Jeff Zucker has no cloud in the deal. If you notice that going to it, he's got no position coming out of the deal. Discovery's going to run the thing. It's a good point. You make Tyler there. So what are you saying? Are you saying,

are you saying like they have to become moderate because nobody wants nobody wants to buy CNN a type of a business? I don't think they have to become moderate per se, but they have to move away from the far left, almost propaganda, brainwashing. Get away from the Brian Stelters and that kind of stuff. It's which is where a Chris Wallace sort of moderate can come in and change things up. I think Jeff Zucker will be possibly gone after this.

Like you look at what they did after bringing back Jeffrey Tuben. I mean, it's they've just completely shot themselves in the foot and they have to do something. That's what's my real. What do you get your news from? What do you watch? I don't I don't listen to anything. I watch Bloomberg. You watch Bloomberg. Well, because it's Bloomberg TV. It's got like information. I got you. That's a different story. Yeah. Yeah. That's a different story. That's the $35,000 a year type of deal. old you talk about that you talk about the membership of Bloomberg. No, I mean, I mean the television station. Okay. Got it because it's got all the information on it. I

got you. I mean, but you don't listen to you don't watch or listen to anybody. Is there anybody that you would say I kind of like hearing this person's perspective or two. I think remember my second masters is in journalism. So I totally believe in the the idea of fair and balanced. So I think, remember, my second master's is in journalism. So I totally believe in the idea of fair and balanced. So I think Brett Barris is a good journalist. I'll watch him on the evening news. You know, if I had to watch the evening news, but I don't, I watch Bloomberg Asia. Tom, how about yourself?

In the morning, it's CNBC, Squalking the Street, Morning Bell. I think, and I like the way that they put news stories in and they kind of just give you a, like, another of the road cover. That's all glitzy, that's all entertainment. I just want them, I just want them for information. No, but then I go to, then I go bounce back and forth

between Fox Business and CNN Business and, you know, I'll scan, you know, a bunch of news grabs like Business Insider, I'll scan that. But I don't have one guy that is my go-to. You know, I used to be such a news junkie. I worked in news. I was an anchor for 15 years. I don't watch any news.

I do not sit down and watch a local newscast or a national newscast. But I can't look. So, Google News is scary. Yeah, I consume information all day. I'm scared. There's a lot of car now. I just, I force myself to get a balance.

And you know what? CNN is unwatchable. But CNN Business is a very tolerable site to read. I have no problem reading CNN business. I'm regularly. I like reading New York Post. I like the daily mail sometimes, but you always get bought, you get sucked into the agenda that they all have. And they all have some sort of agenda. So I just tell everybody just to, you know, don't go deep on watching news. I mean, ruin your life.

The financial time is becoming woke. I mean, it's really difficult right now to not. It's really difficult to find just unvarnished information. It's not in some way tainted by the editorial team. You can't even I've got friends who work inside the Wall Street Journal who work inside the financial time. Well, here's one great example. Pat, did you hear about this story?

So Sunday night football, Michelle Tafoya is the sideline reporter, right? So she hasn't been on the games for the last three or four weeks. I saw that. OK, so now they just announced that she's not coming back. This is going to be your last year. And NBC said that she wasn't working the previous few weeks because it was a by week for her, which makes zero sense.

All right, why would you have your star sideline reporter take a week off when the NFL season only goes 17 games? So what happened about a month ago is she was on the view and she sat in the concert of a chair, okay? So for one day she was on the view and she said on the view that day that she thought COVID was more like flu Right, she downplayed the significance of COVID and since then she's been whitewash She's been banished. She hasn't been on the sidelines and now she's done. And pretty much that's why people are saying it's happening. She will have a job within 30 days if she wanted to.

Michelle Tafoya is a beast. She's not gonna have a hard time finding a job. She's smart and she's multi-sport and she doesn't need the producer in her ear. She reads the games really well. Yeah, she's not gonna have, look, if she wants to look how quickly she'll end the job. Michelle, if you're listening or if anybody knows Michelle, reach out to have look. Look, if she wants to look how quickly she'll end the job. Michelle, if you're listening or if anybody knows,

Michelle, reach out to value team. We would actually offer a job to her because she's a monster. Exactly. I actually love the way she, her salary, which I don't know, is earning the thing. If only we had someone on staff that was already looking at us. Okay, check this out. So, what?

Her salary is 1.96 million. No, a net worth is 1.96. Her salary is 27,000 dollars a month. That's what her salary is 1.96 million out no net worth is 1.96 her salary is $27,000 a month is what her salary and I'm serious. It's what you're right now 27,000 dollars a month A BTC dot NG so someone's gonna pick her up so she gets six grand a game here's $200,000 a year is the $200,000 years what her salary is remember ESPN doesn't pay as well as people think they and all of us use what our salary is. Remember, ESPN doesn't pay as well as people think they do. Right, right, right. People think ESPN pays very well.

NFL refs make more than that. They make way more than that. And Michelle is, got a lot of clouds. She's got a lot of credibility. Yeah, she's been around a long time. She's, she's all Michael's seven, I think. You hit news. Like how Michael, she's also, she's,

she hasn't taken anything yet. She's multi-sport. She's covered in V.A. On the floor. Yeah. She's in two runs. I'm so sorry, I'm calling Camperon, she also slammed. She's multi-sport. She's covered in V.A. On the floor. Yeah. She's also slam. NBC's Michelle, okay, let me pull this one out because you just brought it up. Long time, NBC Sports Island reported Michelle to force changing roles after criticizing calling Capiturnics Netflix series for liking the NFL to slavery during November episode of The View. And I remember this back and forth with what she said.

No one pressures them. So this was again on the view. No one pressures them. She told view co-hosts, sunny host and hosten on November 3rd's episode, Prompting Criticism on Social Media. They're not forced to go into the NFL. To Foyo who has been on the NFL silence, et cetera, it's an amazing work.

I mean, if you haven't seen it, you've got to watch it. She's a beast. She stood her ground when she spoke to those guys. She definitely stood a standard ground. San Francisco Democratic mayor London breed after backing defunding police reverses need aggressive policing. So now these folks are realizing cops are good.

Okay, that's a good sign. We're going into right direction. We're keeping count here, right? China's bad, communism is bad, and cops are good. Okay, that's a good sign. We're going into right direction. We're keeping count here, right? China's bad Communism is bad and cops are good. Yes. That's right. That's by the way That's what I like now. We're realizing what we agree on right? San Francisco, the most I know it's a reverse is coming something a far left moving that is well outside of mainstream is not calling Those in progressive policies the bullshit that has now destroyed our city not calling those in progressive policies the bullshit that has now destroyed our city. Breeds remarks appear to country her prior position when she came out and supported

a far left, defund the police movement, the wake of the death of George Floyd last year, saying that the incident brought forward the devastating impacts of police violence against African Americans in the country. In July 31st, 2020 statement Breeds said that she was seeking to divert more than $100 million from the San Francisco Police Department to social justice programs. What happened? So look, I'm putting this block used to be for first time home buyers than global investors bought in.

The story in the washroom. The story of OICC, this block is going to get bigger and bigger and bigger. So it's this block of the neighborhood used to be for first time home buyers than global investors. The story is going to be Grande. Look, she had a problem. San Francisco has had this issue for 10 years, long before the unfortunate situation, terrible situation with the lost George Floyd and things went along with that. She ran on clean the city up and she got there on liberal policies, but there is also an undercurrent of we got to do something because this has been going on for 10 years.

That was her original position. She moved her position, bent over the political pressure because she had to follow everything that happened. She had to follow the defund. She had to follow that. She had no freaking choice. That wasn't what she wanted to do. And now you're seeing exactly the person that ran for mayor.

Coming back saying, you know what? The BS that destroyed our city. She doesn't want to be on the hook for it. You know what I like, Tom? Let me tell you why I'm okay with that. Here's why. I am too. I think she's coming back from original position.

But here's what happened. Two years ago, the board made a suggestion on what they wanted to too. I think she's coming back to original position. But here's what happened two years ago. The board made a suggestion on what they wanted to do. I think you remember this. Two years ago they said, let's change the comp structure to XYZ. Okay, one of our board members didn't like the way I had the comp set up. And I said, I just want you know, if we change a comp to this, here's what the side effects are going to be. He says, I don't know. Let's do it anyways. I said no problem. For two months, we did exactly what the ask was. Those two months, we did exactly what the ask was.

Those two months, the numbers dropped, 30% for those two months. Then in March, when we did that, me, do you remember the conversation? In March, we did the meeting, here's what the board said. You know what? This didn't work. Patrick, maybe you're right. Yeah, Pat, and that was kind of the board meeting, and then we went back to what it was.

And I guess what happened? Everybody now believed in the comp structure. There's a part of me that thinks that's okay. It's okay for us to test certain messaging at time to see how it goes. We learned, defund the police, was a terrible idea. Guess what? Now it's fully documented.

So now nobody can go back to cop server. Of course there's bad cops. Of course there's all this other stuff, but we need cops. 911 is1-1 is a powerful method. That's the first thing you think about when somebody breaks into your place and you should still be able to have that luxury. Yeah, it's really a point. And the board learned in a very straightforward way that the motivations of sales forces in Euruscomby doesn't necessarily apply today. So they learn too. And now they don't dispute it. Now they're thinking and helping in ways. Shout out to tell. Two things she's probably dispute it. Now they're thinking and helping in ways. Show, don't tell.

Two things she's probably dealing with. Would anybody in their right mind think of going to San Francisco on vacation right now? You wouldn't even enter your thought process. No way. And it used to be a glorious city. Can you imagine the tourism dollars that they're missing out on? Oh my gosh. I used to go every six months just for a long weekend.

It's a nice difference. I mean, I went to college. It was just amazing. It was a great place. It was magical and no longer. It's a major difference. I mean, I went to college, it was just amazing. It was a great place. It was magical and no longer. It's a hellhole right now. But for her to say, destroying our city for a woke mayor like that to say that, that's great though.

I agree. And here's the thing. The people that they were catering to that they wanted protect, those people are not political. So when this ramp in crime is hitting, they don't give a crap who they're hitting. I mean, who they're affecting. And I guarantee a lot of her donors and supporters are business owners that are getting crushed. And they're feeling pressure right now, which is forcing them to do this.

So next in line, hopefully is Chicago, like foot. Hopefully it's Garcetti before he heads off to India. And what's your guys take on the new mayor in New York? He's going to be a better alternative, isn't he? Yes. Okay. Anybody? Yes. I mean, there, I mean, he's a touch over toward the moderate side, although he's not a pure play moderate, but he's leaning back over New York. He's the he's the right guy for New York. Much better than the velocity. Oh my gosh. Yes. I mean, the velocity of communist toward down Thomas Jefferson's statue in front of City Hall. Oh my God.

Two people that destroyed cities, Garsthaln, the district attorney in Los Angeles and the Blasio in New York. Two people, I don't think I've done more damage to major cities than anybody else in history. We need to get December 31st here and get him out of office. You know, in San Francisco,

she said odds with the, with the DA. You know, San Francisco. Oh, of course, because he was Soros, Soros is guy, the DA. Correct. So she said, that's a good sign. That's great. That's fantastic.

There's a tension there. You know, the guy that refuses to prosecute anybody and then she, who doesn't want to lose her job as mayor, as she was elected to in the next election, because people are like, and I think she's correct. She's coming out saying the BS that destroyed our city. She got put in a, in a put in a horrible vice at the middle of just a huge sway of what was happening

in America at the time. And she got pinched right into it, and she didn't want all of it, and she went with it, and now look, she has to come back. I think bail is gonna make a comeback in cities. What is? Bail. Make bail great again.

Ah. No, it's make bail high again. Make bail existence. Well, we'll let you out on your own, Rick Codness, since if you promised to come to court, okay? And don't rob that other bow dig in tomorrow. Uh-uh, no. No, no, no, no, no, no, no, no, no, no, one more time.

It's on her. Question for you guys. Are you optimistic about 2022? I am. I'll answer that question right away, because I'm seeing some signs here. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time.

It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time.

It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's our time. It's gonna be a painful process for people like Mayor London Breed. I think it's gonna be a painful process

throughout the year with the next wave of COVID, but we're gonna get down to the midterm election. I think we're gonna look back at the end of the year and say, while I'm glad 2022 is over, but I think we made some progress here and here. Yeah, I think that there's probably a recession in our future that people are not anticipating. I don't think this can be an easy year, but I think we're going to get to the end of the year.

However, let me see what she has to say. Look, with any luck, because it's a midterm year, there's not going to be some crazy fiscal spending to the rescue because you won't be able to pass the legislation. I think Tester and Cinema and Manchin have drawn the line, and I think they're going to hold the line. So I think even if we do have a recession, it's not going to be totally overreacted with more fiscal just insanity. So again, and that will probably boost the midterm chances, and I think the country's

ready for change. I just, I hope the Republicans that have also spent like drunken sailors don't win back the House in the Senate and then spend on what they want to spend on and run the debt up even more. I really want for all of this rhetoric to actually be sincere and for us to actually step back and say we need to look at entitlement spending.

This is fiscal spending on wild. We really need to step back. And that's what Manchin's been saying. We need to look at entitlement spending, this is fiscal spending on well, we really need to step back. And that's what Manchin's been saying. We need to step back. And so I'm hoping that politicians in the center, and obviously the GOP, I'm hoping that they prevail, but then stop and pause and say, you know what, we had some really crappy policies

after the pandemic hit. That was 36,000 today. Next year today will it be a higher or lower? Next year, next year will it be higher or lower? Dow. I think it's going to be a flat year over here. Okay. There's a lot of forces.

You think it'll be a flat year? I think it'll be a flat year. You think recessions going to affect the Dow tremendously if a recession comes? Yeah, I don't think it's going to be flat like this. I think it's going to be one of these. OK, I think we're going to see it drive. We've seen volatility come back, and I think that we need to get used to that.

The current generation of investors is kind of like on Prozac has been. But the bumpiness that we've been experiencing, I think you better just buckle up, better cut, because it's going to stay bumpy. So what do you think the number will be in the next year? No clue. I say down. Because I think it's going to stay bumpy. So what do you think the number of the end of the mixture? No clue. I say down.

Because I think it's going to go down, but I think that the midterms will bring it up, but that's not that. I think the better question is to ask, if a recession happens, is it going to negatively impact the market? Yes, because saving the market last time required not just the Federal Reserve to

ride to the rescue, but the fiscal authorities to ride to the rescue. You needed a double-barrel approach. So the Fed can't go at it alone. And during a midterm election, there's not going to be some massive fiscal spending bill. Mitch McConnell won't have it. You just hope, Manchin, doesn't retire or step away. And said, I don't think he will. If anybody has not seen the Bloomberg interview of him, David Rubenstein, the art law group, he interviewed Manchin recently and it was epic.

It was so awesome. So catch that. Fantastic. We will definitely do that. Awesome. Okay. Great show, guys. We will not have a show next week.

On Monday, I'm hosting a business planning workshop that we'll be doing. A lot of you guys asked about it. We're finally doing it. It'll be a Zoom that will do business planning workshop all day from eight till eight at night. If you haven't yet registered, we're gonna put the link below for you to go register

for this business planning workshop. If 2021 was an okay year for you, and maybe you hit less than 50% of your goals and you want to increase the number of percentages of goals you hit, you may want to join us for that business planning workshop. It'll be myself and Tom, next Monday, register will see you there. Having said that, we are not going to see you until after Christmas, so Merry Christmas. Merry Christmas. Merry Christmas. All of you will see you after that. Take care everybody. Bye-bye, bye-bye, bye-bye. Bye. you you