PBD Podcast - Reaction to Biden vs. Trump Debate | PBD Podcast | EP 16

Starting point is 00:00:00 You can. Okay, let's go. All right, going live. Lower your audio on this because sometimes we forget that. Yeah, it's all gone. You know how to use it. Just swipe. Is this here for a reason? Yeah, it's okay. Starting preview. Preview is showing. There's no audio here. Audio is live.

Starting point is 00:00:36 Audio is live. And then... Howdy. Good morning, Rob Jolly. So, it will always late. I remember this of Sully. I mean, Rob Jolly. Soyboy always late. I mean, this is of Sully. I mean, that's what they're saying. What's going on here?

Starting point is 00:00:51 El Debos. And then we're live. We are officially live. Episode number is this 16th episode that we have, and we have our good friend, Daniel, the Martino Booth here with us. Morning. To give us an update on what's going on with the economy,

Starting point is 00:01:04 the new stimulus that they're going back in for Pelosi, Trump, all those guys. And then we got Adam here as well, the man, the myth, the legend, Soyboy, which I saw a shirt that was sent here. I thought it was very appropriate. Somebody wanted to send you a shirt that says Soyboy to make out to get each other.

Starting point is 00:01:19 I'll take it. Okay, so I think it's fair to say today's the first day of Q4. You kind of told us about it at the beginning, which is true and there's a lot of things going on They want to change the format of the debate. We got a lot of topics We got some economy topics that we're talking about 30,000 airline jobs Maybe even 50,000 at this point that are out there that maybe lost you got Palantir's officially public company are out there that maybe lost. You got Palantir's officially public company,

Starting point is 00:01:45 Harley Davidson is leaving India, the world's largest motorcycle market, leaving India. Bunch of layoffs, KPMG all-state Goldman Sachs, Disney's Lettengove 28,000 JP Morgan's 980, 20 million out of fine for market manipulation spoofing. 64% of people say the economy worse than it was a year ago. China's K-shaped economy and changing in the debate format and a bunch of other topics. A lot of things to cover here, but before we get into the topics, Daniel, since

Starting point is 00:02:15 we have you here, we've already responded to the debate on what took place between Biden and Trump. I want to kind of get your thoughts here. What did you think of that wonderful, easy-going debate that took place a few days ago? Well, see, I'm one of these geeky types. I actually wanted to know what policies they were prescribing for the country. Remember that 64% who think the economy is worse? Yeah. I didn't hear much in terms of substance.

Starting point is 00:02:41 I didn't, so I was kind of disappointed there. I mean, you couldn't hear anything. You didn't see substance. You couldn't hear anything. No. It was a, it was a, it was a cluster-ish thing. The cluster-ish. Did you think one did better than the other? Like, meaning, you know, Trump came in, did you think Trump did better than you thought he was going to do it? Did you think Biden did better than he thought he was, you thought he was going to do? Oh, I think the consensus is that Biden didn't mess up. Okay. I think that that is, Biden didn't mess up. I think that that is, there was this concern

Starting point is 00:03:08 that there was gonna be some major gap on stage. And I mean, he kind of held his own in the boxing ring. You think so? I think you did. What's your football score between the two guys? What is the football score? You know, right now, I think we're tied at the half. Really? Oh, okay. You're just putting it a tie right now, I think we're tied at the half. Really?

Starting point is 00:03:25 You're just putting it a tie right now. Oh, that's where Vegas has been pretty neck and neck, and I go with Vegas. Here's a question for you. You know, they do these VP presidents. I know you're a Pence fan. Do you think the VP debates matter at all? I think.

Starting point is 00:03:41 Have you seen the demographics of the presidential candidates? Yes, they matter. I mean, more than ever before, meaning like if there's ever been a time that it matters more, would you say more to the other? Well, one of them has got cholesterol issues, the other one who knows. So yes, I mean, everybody wants to know who could potentially, I think this is a more critical vice presidential debate than anything we've ever seen. You think it's more important than ever that the debate, the VP debate, more important than ever? Absolutely.

Starting point is 00:04:08 Okay. I mean, there's a greater, I'm just, this is not brain surgery, this is demographics. Well, some of us need brain surgery because some of us, our heads have been hit too many times where there was military and sport, so we need, that's what we're bringing you on here for common sense. Thank you. I'm bringing you on here for comments and stuff.

Starting point is 00:04:25 I'm sorry you're here, Daniel. I didn't get the concussion. Some of our audience have to also play sports. I can tell you that's what's wrong with my middle son. Every time I say I'm like, you were definitely dropped on your head. Middle son. He's like, thanks, mom.

Starting point is 00:04:37 Yeah, especially on national, you know, alive, this is very impressive for him. So you're looking forward to the VP debate. Are you looking more forward to the next presidential debate or the VP debate? I think people are going to tune in for the next presidential debate because they need more live sports in their lives. So more brain-passing. Well, look, they're going to come up with some new strictures, guidelines, what have you.

Starting point is 00:05:01 But I mean, look, my second master's is in journalism. I was impressed that Chris Wallace held his cool. And you could tell that he was sweating under his collar because he was being put in such a precarious position. I mean, you think he did a good job, Chris Wallace? I think he held it together. I really do. What a good job or no? I mean, he couldn't have done a worse job.

Starting point is 00:05:23 Let's put it that way. I mean, if I was him, I'd rip my microphone's get it that way. I mean, if I would say my, rip my microphone off and walked away and said, you just do get out. If this is how you're going to comport, you're not here to do this. I had the twins initially watching it. My, my, my, to be 13 year old twins initially watching the debate.

Starting point is 00:05:40 Once profanities started flying, I'm like, go to bed now. Really? I'm like, this is not how America operates. This is not what we What was the moment you said no no no no no no no no no no no no no no there was real profanity that I'm not gonna Two instances of it that I'm not gonna would you know? There's no cursing we've never cursed in our lives, but please for you know our audience We have to figure out

Starting point is 00:06:05 Did Trump drop F1s? I didn't count you. There was an F bomb, I didn't say that. Profanity, Trump, debate. What the letters start with? It started with a B. With a B? Senior reporter uses profanity, describe it.

Starting point is 00:06:18 Could you, mate? Who comes here? I'm trying to see what was said. Now I'm actually curious. It's not saying anywhere. Did he actually know? I don't know. I think Danielle just broke some breaking news over here that that minor in journalism is only a show master's master's master's master's come on universe and come on that minor

Starting point is 00:06:34 in journalism. You're like buddy. It's a master's. I apologize. There's a there's a dream here. That's a son of a bitch got fired. Is that the one? Yeah. Yeah. The language. the bitch got fired. Is that the one? Yeah. The language. The language. So I'm very surprised Trump would ever use profanity. You know what I would like to know right now is if the second debate was moderated, not by Chris Wallace at this point, but by Danielle de Martino Booth. What would you do differently? I would have one of those shot color things.

Starting point is 00:07:02 Shot color. A shot color. Yeah. If you say it, if you say a bad word, if you're going to hit below the belt, when you're supposed to be, I don't know, the leader of the world, I mean, to have some comportment of some type, either of them, then you get to zap them. You're shot- and drunk. And if they go over their time, because it's 120 seconds, hopefully if you're the leader of the free world, you can gather your thoughts in 120 seconds. Hopefully if you're the leader of the free world, you can gather your thoughts in 120 seconds. That's the talk I ask.

Starting point is 00:07:28 So then I would have the other button with the dunk tank. Oh, do you fall? That was nice. See, now you're talking my language because now it's everything. He's looking for excitement. If it's supposed to be...

Starting point is 00:07:38 I have to look at for reality TV. If this is supposed to be... If this is supposed to be the apprentice meets the debate, meets the boxing ring, you know, the golden girls, the golden guys, I love that. And you're wondering why we're watching the vice presidential debate, right? Okay, they're golden. Okay, clogged arteries.

Starting point is 00:07:57 So, yes. They're old, they're old. Yes. So why don't we do this? First of all, there's a lot of memes that we're going around. Can you show us some of the memes, Kai? I think it's good to start with some real serious topics of the memes. This is one of them that came out. Can you get a long shirt? Okay, Biden and

Starting point is 00:08:12 Trump. I don't know why Trump is shorter here, but it is what it is. Do you have the other one? Here's one that's very emotional. Very emotional. Oh my God. Is that Chris Wallace saving the day? Yeah. All right. Carrying by a nice heartfelt. This one brought it here. Okay. Then go to the next one, go to the next one, which was, you know, do you have the other one

Starting point is 00:08:37 or no, the one that I give Mario, Mario may want to send that to you. The one I sent to Mario is pretty funny as well. Now they're talking about changing a formatted debate. Now the conversation is what if they can change a formatted debate? A couple different things came out is, I just looked at it right now, you were talking about it earlier,

Starting point is 00:08:54 a possibility of a mic mute, meaning muting. If you're going over, the moderator has the ability to just press mute and nobody can hear you. Any thoughts on that, on being able to mute the other person from speaking? Well, if something needs to get done here, or do we just let children just act like children? I mean, do we want more excitement?

Starting point is 00:09:15 We want less excitement. We want more order. Do we want Trump being more Trump-y? Like what? What I will say is this. And this is being nonpartisan, I know you're gonna think, as someone who is not a fan of Donald Trump,

Starting point is 00:09:31 just to watch the guy constantly interrupt. Like I told you, I taught second grade when I was in my early 20s. Yeah. He was acting like a second grader. Like, hey buddy, Timmy, I told you to be quiet, we have a class to run, you keep interrupting.

Starting point is 00:09:43 No, not that. Timmy, I've told you a few times, Donnie, I've told you a few times. We have a class to run. You keep interrupting. Not not Timmy. I've told you a few times Donnie. I've told you a few times. Yeah, how many times you got to tell someone not that not that old man Biden was you know on his best behavior Chris Wallace had to be like I think Chris Wallace needed to talk So this is a everyone's like Chris Wallace saved the day for saving private Ryan over here if he actually, again, nonpartisan, he needs to step in and be like, guys, we are grown men here.

Starting point is 00:10:11 What is going on here? Like, stop it. Just enough for this nonsense. But he was like, excuse me, if you don't mind, perhaps, would you consider, like, shut your face as people? Well, I mean, he is in a position where he's supposed to be deferential these people have been leaders of our country you i mean you don't you don't cast eyes the president

Starting point is 00:10:33 you don't have ties in the visa out the cast as anyone uh... no no no you're suggesting that he gets that he gets down with him i don't i don't buy that i'm not saying that the moderator needs it to be debating someone, but if you're the moderator, the key word is moderate moderation. There's there was no moderation going on. So I would take up what would you do? Yes, please that is there was 70 interruptions. Okay, 70 interruptions in 19. I don't know if that's

Starting point is 00:11:02 a lot or it's not a lot, but 70 interruptions seems like a lot. Okay, let's just say it's a big number. Fine, number one, the one thing is for sure, Wallace, if things don't go well with him at Fox, he's got a job at CNN. 100%. Okay, he's possibly MSN. CNN, NMSNBC, he's got a job for a lot.

Starting point is 00:11:19 He came from the liberal networks. I know he did, but he's- And Roger Ailes and Murdoch himself, they hired him knowing full well that he was at least to me. I did not know, and I've watched him for years, I've watched Fox for years, I did not know that he was a card-carrying Democrat until right before the debates, because he's always, at least to me, he's always gone straight down the middle. He's hard on people on the left and the right.

Starting point is 00:11:45 Yeah. He's like David Brinkley used to be. He would never show his politics in his job. What is he saying? And that's his job. His job is to stay straight down the middle. But he showed it two days ago. You're saying that he is, in fact, a Democrat.

Starting point is 00:12:02 He is. Like he's registered as a Democrat, or he's voted as a... That was in a June New York Times profile. For me, he needs to be a registered independent. People that are moderating debates, it's not gonna be. Yeah, it works. Cooper's gonna be moderating a debate.

Starting point is 00:12:16 You know, Cooper would be... And is it Cooper that's a little bit different? I mean, what's so different about it? He's saying that's Sanders and Cooper. We know that he's on the left. Like, he's not even making, you know, that's the third one. So that's the third one. I know that he's on the left. Like he's not even making, you know, so that's the third one. That's the third one.

Starting point is 00:12:26 I don't have problem with that. Go ahead. That's the third debate, then, Cooper. Cooper's the third debate. The next one is Scott something. I don't know who's the second. He's got Beo. He's got Beo.

Starting point is 00:12:36 He's a big Trump C-Span. C-Span. Yeah. So when we bring our seats up a little bit, are you good? In the bottom up here. You good? There you go. Am I feeling short?

Starting point is 00:12:44 A little bit. I want the people to know how big you are in real life. Like how You good? There you go. Am I feeling short? A little bit. I want the people to know how big you are in real life. Like how grand you are. All right, so. I'm not telling you. I'm not telling you. It's the other side, buddy.

Starting point is 00:12:53 Woo! There we go. It's good. So, so we are. We're having fun with Daniel. Be a blooper in the future. So 70 interruptions. Wallace, Jobs, CNN, left, center left, wherever he's at,

Starting point is 00:13:08 you're uncomfortable with him whether he's in a middle, you gotta be in a middle, it's different than Scott, it's different in Cooper. You know, here's a couple of things about the debate. The whole thing about trying to put a two minute thing on it. My problem is the complete opposite side. So here's what it is.

Starting point is 00:13:24 So, if you're debating somebody and debates is about being overly prepared, you know, I think yesterday, Tom said something very good when we were having lunch, he said the fact that an entrepreneur like Trump, his entire life, he's told people what to do. People don't tell him what to do. So he comes from the standpoint of, who are you to tell me what to do. I mean, even Chris Christie was trying to coach this guy for debating. Trump. And Trump's just kind of like, I'm gonna go do it the way I've been doing my entire life. You better believe the one song that Trump has on repeat and his car if he ever listens to any songs. It's I did it my way. It's Trump. He is a

Starting point is 00:13:58 full on. I did it my way, right? He doesn't listen to you to his wife, to his kids, to maybe he listened to his daughter. He doesn't listen to the media. He doesn't listen to you, to his wife, to his kids, to maybe he listened to his daughter, he doesn't listen to the media, he doesn't listen to his advisors. So why anybody is surprised? I'm surprised. That's number one. Is that a good thing?

Starting point is 00:14:13 I'm not telling you it's a good thing or bad thing. I'm just telling you who he is. I'm giving you his, he doesn't listen to any of you. He doesn't listen to any, but that's his DNA. Okay. Here's the other part. The other part for me is, okay,

Starting point is 00:14:22 Biden kept reading his cards. What does that mean that Biden kept reading his cards. What does that mean that you're reading your cards? It's preparation, maybe you didn't write it. Trump just looked at the camera like this and he spoke. You know where Trump stands. You don't know where Biden stands. You know where Biden's team stands, but you don't know where Biden stands.

Starting point is 00:14:39 So you have two different things to go with. One, where you know what Trump is going to do, because he wears it on his sleeve, the other one is somebody that's overly been coached, that is gonna say what his team's told him to say. Those are the two things that we're looking at. So if you're sitting there saying, we gotta change the format and maybe be in a bit of

Starting point is 00:14:58 Mike, one of the guys, if he interrupts the other person, well that's exactly what a lot of the audience doesn't want to see. If you're doing a debate specifically for people in the world of journalism, they got to do what they want to do. If you're doing a debate for the average person to make up their mind, you can make up their mind after two minute answer, but okay, next, boom, okay, next, boom, okay, next. You can't do that because then you don't have enough momentum for a person to be able to make up their mind. I want to be able to, like for example,

Starting point is 00:15:26 you know, Joe Jorgensen's camp reached out to us. They said they'd like to do a, uh, uh, uh, stuff on here, right? What do you call it? Joe Jorgensen said they're, they're wanting to come up and be a guest because you know, she was not on the debate and she's the libertarian. Mm-hmm. Candidate and, uh, you know, I said, if you want to come down here, we'll give you a couple hours and you can kind of share your thoughts right come down and share your thoughts and tell us what you think about current politics. When when you saw Sanders going Rogan he spoke and he kind of gave his answers. When he saw Tulsi Gabbard going around talking you saw answers. When you're seeing people going around talking today's world the reason why these

Starting point is 00:16:03 podcasts are doing very well is because a long form does well. When she came the first time and we sat down and we spoke, it was two hours, I don't know what it was, it was a good two hours. People finally got a chance to say, holy mo- who was- what? Who is this lady? She's brilliant, I fit- this is amazing. We learn about her. The audience then makes a decision and says, what, wow, I like her. I like her views. I don't like her here. I don't like her here.

Starting point is 00:16:31 But she's brilliant. I like the way she put things up. We were able to make a decision on her based on a couple hours, right? Okay, now, maybe the audience is trying to say, we don't like this 90 minute format. And we don't like this regimented, two minute crap that you guys are doing. Maybe that's what the audience is saying. They, we don't like this 90 minute format, and we don't like this regimented, two minute crap that you guys are doing.

Starting point is 00:16:45 Maybe that's what the audience is saying. They get the town hall. Next time it's a much more open casual form. I think that's the word. Next time it's a town hall. It's a town hall. Questions and answers. I don't even think 90 minutes is a long time.

Starting point is 00:16:58 I don't think 90 minutes is a long time. I agree. I've got at least two hours. I think it's more than that. I don't even think two hours. I think go 10 hours with it. Let's do it. Let's get crazy. I'm actually being very serious with you. I don't even think two hours. I think it's 10 hours with it. Let's do it. Let's get crazy.

Starting point is 00:17:05 I'm actually being very serious with you. I'm saying, three hours, take a break. You can do three hours with 15 minute breaks, three increments. Go one hour, 50 minute, go one hour, 50 minute, go one hour, 50 minutes, or go 90 minutes, two times. Take a 20 minute break. Go just like football, you got half times.

Starting point is 00:17:22 Do two 90 minutes and let us talk and it's not two minutes Let's see if Biden can give a 10 minute answer So you can actually go through What happened if you nights ago you would have a lot of official reviews You would have a lot of time out What fact checks or for what penalties penalty? Which you know what I would do you can you know? There's the dog call it. Here's the other thing I would do here's the other thing I would do Yes, sir. Here's the other thing I would do. Here's the other thing I would do. Here's the other thing I would do.

Starting point is 00:17:45 This is the other thing I would do. Once on, we brought a couple guys here to debate marijuana. Okay. If you know me, I'm not a cigarette guy. I can't stand cigarettes. I, long story, in any case, I was gonna go a whole different I just wanna knock him out.

Starting point is 00:17:58 I'm not a cigar though. Every once in a while, yeah. I'll knock him cigar when I'm with Matt Sopala. That's it. Shout out to Paul. I think I'm Matt Sopala. I have five cigars and I'm with Matt. I'm with Matt. Yeahala. That's it. That's it. Shout out to Paul. Yeah, I think I'm Matt. The bad guys cigars and my life before they're with Matt. Yeah. So it's but they came in the debate of marijuana. One of the one's was the

Starting point is 00:18:11 development director from normal is where she came from. And the other one was a Navy, US Navy intelligence, a commander of US Navy intelligence. He came over here. You see him all the time on Fox and CNN. He came over here. We put the debate right behind that. And we went 90 minutes, right? The last 30 minutes of the format of the debate, the way I did it is they talk to each other. I'm not involved.

Starting point is 00:18:33 Talk to each other. I want them to talk to each other. Go, you did this. Go talk. Give them 30 minutes. Dude, when there's a fight, let them fight. You know, the fight is not about the moderator. Let them fight.

Starting point is 00:18:45 So now I understand what somebody may come back and say, well, what if it gets ugly? Whenever it got ugly, I kind of held back. I'm like, hey, you know, can you do this letterman, sir? Letterman, sir, you did a little bit of that. But let them talk. And then this is what we did, which was very interesting. We came back, we asked the guys,

Starting point is 00:19:00 what should we do with the debate? And we said, how about at the bottom we write out green he was right red you were wrong so we fact-checked so what if we watch it on three-hour format and he says I never said you stupid bastards fact-check yes you did Biden's wrong boom I never said that boom yes trump you're wrong I never said this to boom, you're right, he didn't ever say that. So there's a fact checker that's being done from both sides. So there's a Fox fact checker, there's a CNN fact checker.

Starting point is 00:19:32 In that moment, the audience is sitting there saying, oh, this is kind of cool. I love that, I didn't get that. Not let's wait till the next day because how many people actually go out and do their own research to find that? I've heard that say stupid bastard, I don't know if you.

Starting point is 00:19:44 I think that's an exciting format. Live fact-checking. I say you go three hours, first part is controlled by the moderator, guess what's the second part? Go, light it up, talk to one another. Moderator, I want to sit like this, I want Biden sitting against one. What if they're screaming at each other? Let them, because the result that also tells us where they're at, let them. Let them, because that also tells us where they're at. Let them. Let them, let the audience kind of realize how they handle pressure, because in reality Daniel behind closed doors when they're sitting with Schumer and Pelosi and they're screaming

Starting point is 00:20:12 at each other at the White House, that's what's life going to be. Anyways, when they're running their organization. So scream, let's see how you handle meetings behind closed doors. Let's learn about you, let's see who can handle composure, let's see who can work together. Maybe it's not going to work in Trump's favor. Maybe it's not gonna work in Biden's favor, but I want us to sit like this and the moderator says, listen, it's officially your turn. You have a choice, pick a topic.

Starting point is 00:20:34 Next one is your choice. You pick whatever topic you want. You say, okay, I wanna go through one topic. What's that? My topic is coronavirus, how you handled it. Great. Why did you do that? Why did I, why did Obama, okay, go.

Starting point is 00:20:46 Next, 20 minutes. Boom, think, think, think, think, think. Go 20 minutes. Next topic, Trump, what product, what topic you wanna talk about? I wanna talk about why for 47 years you've not done shit. And it comes out, he's like, why are you gonna talk to him? And then they go back and forth.

Starting point is 00:20:57 That's the format I wanna see, because open format. No matter how much, when we had a Jera here, Jera said something very interesting in a crash of license to carry she said look People you know the question was asked what was a question when she said if somebody oh somebody came with a paintball gun and started shooting up a car in a freeway Do you remember that story and you asked the question did you ask it or I think you asked it So can the person take a gun out and point it at him? Okay. And she said, you can, but I just want you to know in that moment, there's no way you're going to be able to

Starting point is 00:21:31 fire exactly at a car because you've never been in that situation before. So when we're sitting there, yes, and she said, oh, yesterday, you guys don't know what I arrested somebody the night before last night at 10 o'clock. She was telling that whole story about one at night before. As tough as somebody acts, it's very different when a real fight breaks out. As tough as you think, when I went in a military, man, when we ended, did our first exercise, were you supposed to low crawl over M60s firing above you

Starting point is 00:21:56 and it's 11 o'clock at night and you supposed to low crawl in mud? The biggest guy with tattoos on his back is the one that got up that couldn't handle it. Toughest guy can handle it. I'm telling you, you're like, you, everybody used the smallest guy was a toughest guy. So you don't know this kind of stuff. Okay, when you go into a negotiation room, things really get down. The guy that's like a nice salesy guy, you think he's good, but on the negotiation, he's very nervous.

Starting point is 00:22:20 What happened there? So this is the part, hey, since you've had 47 years of politics and I've been doing 50 years of business I'm trumped your Biden. Let's see who can handle pressure the most on the spotlight. Let's talk about topics No one gets involved that Would get me to stick there. So oh my gosh. This was sick Then I can make my decision for my I think that'll help the average American to say I can see why they say nothing gets down with you behind closed doors.

Starting point is 00:22:48 Yeah, I can't vote for it. I just saw the true colors of you. I'd say, find out about who the leaders are. I may be wrong, but that's just my thought. I actually, 10,000% agree with you because behind closed doors, if you're in a negotiating room, you're sitting at the table, you have to be able to interact with somebody. If somebody's, oh, that's like, buddy, listen, can we have this conversation here for a second? All you're doing is yelling. Here's what I'm going to say, because that's what is the problem right now with Nancy Pelosi

Starting point is 00:23:12 and Steve Mnuchin and they're behind closed doors to trying to get this fricking second stimulus. Let's see it. Exactly. Trying to get a stimulus deal done. Why can't this deal get done? Now they're back to where they were square one four months ago? Ridiculous with the heroes act or the heels actors at the cares act part two What's going on behind closed doors basically you were say what you're saying is let's open the room Let's open the vault and let's see what actually hope it happens down close. There be session you ever seen the the Incredible movie based on true stories a very heartfelt movie couples retreat. You're a super serious. Very serious.

Starting point is 00:23:49 I was waiting and I'm like, oh my God. Gone with the wind. Oh my God. Shedler's last. You've seen the part where they say singles island. This is your island, married island. John Fever was asking a question. And then they sit down and they say what the therapist.

Starting point is 00:24:03 They say, so how are things? Perfect. Just perfect. John Fever and his wife. How's then they sit down and they sit with the therapist. They say, so how are things? Perfect, just perfect. John Fever and his wife has everything, very good. Oh, he's a great, so say something good about your husband. He's a great father. Say something good about her. He's a great mother. Say something, and then all of a sudden you saw,

Starting point is 00:24:18 ta ta ba ba da da da da da, and she let him go. Sometimes you gotta do that. Let him lose. Man, I'm liking him. And if you, a fight word, got a got a was fighting word. It's known as one of the greatest boxing matches of all time. Today referees would have stopped that fight.

Starting point is 00:24:34 But it became one of the griff. You want to go watch a fight like a real fight fight. It's got a word. Go turn it on and watch it. Bam, bam, Goddy gets down. His ribs, he can't breathe. Nine seconds gets back up. Bam, bam, ward gets down, rip gets back.

Starting point is 00:24:52 Let these people fight and let us make a decision for ourself and step out of the way moderator. We're putting too much value on a moderator. Half of it moderator driven, the other half get out of their way. Let them fight, let's see what they do. I think it'll be so entertaining. Danielle, do you like that idea?

Starting point is 00:25:09 I would probably be in a different room. You don't like cursing. But you don't like people going out and fighting. What don't you like about Pat's idea? Go back and Google George Washington's farewell address. September the 17th, 1896. Danielle, I know that back and Google George Washington's farewell address. September the 17th, 1896. Danielle, I know that back and forth, like, come on. That's all I do if I watched up like that.

Starting point is 00:25:30 Me and Kayan are a spare time. Come on. Back and I don't know. But do your history. I mean, these are men who were at war, who were fighting, spilling blood, fighting for our country. And when you hear, by the way, he's the only landslide times two president. George W. George W. Yeah. The other one. The original. The first one.

Starting point is 00:25:53 Yeah. But when you go and you listen to his speech, you get the sense that he understood coalition building and he knew what it was to build a team, and he knew how important it was to unite the country and that if you tear it apart, then you make it weaker. And I think that that is why you've seen, in this particular administration, the revolving door going as quickly as it has. You can't keep anybody in office. And I think it's a my way or the highway, then maybe that's not the right characteristics

Starting point is 00:26:30 for somebody to be president. Because you have to build coalitions in order to get things done in Washington. When you're behind closed doors, if you're just slinging mud and nothing is accomplished, you're not making forward progress. You have to actually accomplish things and get things done. And by the way, for everybody, it doesn't... So, you're not just working for the people who vote it for you. You're working for the entire

Starting point is 00:26:55 country. That's your J-O-B. And it has to be. You have to look out for everybody in the country. So, to bring it back to Pat's point, you're saying he wants to see what actually happens behind closed doors. You're basically saying, we kind of know what's happening behind closed doors. There's a lot of marksling going on. Actually, we got it in words, results. We do, I don't know if we do. Here's what I mean.

Starting point is 00:27:16 We're getting it up. Okay. No, there have been more people who have stormed out of the Oval Office. Well, I don't disagree with that. I mean, so you know what's going on behind the story. But that's good for the people that are to see the sides because we've not seen that before. No, no, I don't disagree with that at all.

Starting point is 00:27:33 But if nothing is accomplished, then again, they're there to do a job. They're not there to get pressed. They're not there to get memes. They're not there to get press. They're not there to get memes. They're not there to create tweets. They are there to do a job that is a duty to the world's biggest economy. Here it is.

Starting point is 00:27:55 I'll say this to you. OK, very good point, but I'll say this to you. Somebody just commented right now saying that Biden interrupted Paul Ryan 82 times in a VP debate back in 2012, which I remember because he was constantly interrupting him. Look, I have a friend of mine, Tom, we go to baseball game. Score is 2-1. I'm half asleep. He's saying, what a great game. I'm like, what is great about this game? He says, this is an ultimate pitching duel. This is a great pitching duel. I'm like, pitch, I didn't come to watch a pitching duel. I came to see what?

Starting point is 00:28:29 Home runs. You want to see some staring at our dudes? Not in a watch. I see a pitching duel. If you want to see what safe baseball was 98, here's the point. Watch this. Daniel, what I'm trying to do,

Starting point is 00:28:41 I'm trying to create a format that pleases everybody. What's great about the format I'm suggesting is the first 90 minutes we have your attention. The next 90 minutes you go to do, I'm trying to create a format that pleases everybody. What's great about the format I'm suggesting is the first 90 minutes we have your attention. The next 90 minutes you go to sleep, but the next 90 minutes is, you know, the freaks come out at night, the freaks are gonna watch the second half of the debate. I said the freaks come out,

Starting point is 00:28:57 and the freaks come out. I think, as, as, as, as, What do you guys think about this idea by the, if you're listening to this, go ahead and do it. And does the pointing as the ratings were? i think people are tuning in next time with popcorn so i do because it is it's going to be pure entertainment you think so let's just take it to where you want to see it you want to see the second half of the debate shirts off gloves on loves bite in trump fighting it actually who wins

Starting point is 00:29:21 in a real street fight i think that'd be terrible who wins in a real street fight. I think that'd be terrible. Who wins in a real street fight, Pat? Who would win real street fight? To 70 something your old man Go on at who is who is win the street? Who do you guys think in the audience? I can't see Trump throwing a punch I can't see Trump even throwing a punch in a fight. No, I don't see I see Trump as the guy that he has people that fight for I was about to say no fight for himself to fight for himself. How am I going to say that? He would outsource that. I would outsource. I think so. I think so.

Starting point is 00:29:48 By the way, that's not what I want to see, guys. I'm not asking about whether I want to see that happen. What I'm asking about is I want to see your true colors. I want you to talk to one another. Sit down face each other. You know one of the best parts of the debate was when the last time they were asked, so Hillary, tell us, what's the one thing you respect about Trump the most?

Starting point is 00:30:08 I think Trump went first. And so Trump, what do you like about Hillary the most is the fact that she never gives up. She's a fighter. Hillary, what do you like about Trump the most? His kids. You have to give him respect for his kids. He's raised his kids. Except for Eric.

Starting point is 00:30:24 But whatever, that's another topic. He's not bad, I mean, you and Eric would get along, you know, you guys would definitely get along in the Miami pool. I would get along with Ivanka, probably. Yeah, so, but the point I'm trying to make to you is there's different ideas. The women won the DNA war by the way in that family, anyways. Agreed, it's actually a good point. So, that's all I'm saying, I'm just saying, let's see, different form. Have you seen how tall Baron Trump is?

Starting point is 00:30:44 Oh my god. He's 7'4". He's not 7'4". He'm just saying let's see different form. Have you seen how tall Baron Trump is? Oh my God. He's seven four. He's not seven four. He's taller than seven. Six, seven, he's. He's tall, dude. Where is the stand? Because when he was standing next to Pence,

Starting point is 00:30:54 do we have a picture of that? Yes, Kai can probably not have heard of her. But I'm pretty much the same. I mean, many Mike. Yeah, we show that. But you like Mike Pence. Mike needed a milk crate. I'm a Midwest kind of a traditional conservative kind

Starting point is 00:31:07 of a person. And so. Where's the big stance? My first time I ever was in Indianapolis airport June 2016. I'm walking through the Indianapolis airport. I'm taking my boys to the military academy where they attend in Culver, where Pence summers. And I see this sign that says, Indiana's got the best pension in the country,

Starting point is 00:31:28 fiscal blah, blah, blah, and I'm like, you like that. And I'm like, Googling, I'm like, governor, state of Indiana, who is this guy? And a month later, he was announced to the VD. So Brian, you don't know who he was. Prior to that, I did not know who Pant was. That's so interesting.

Starting point is 00:31:42 Okay, press play, buddy. Prior to that, I did not know who Pants was. That's so interesting. Kay, press play, buddy. Barren's out of the shot. Yeah, your like. His head is out of the shot. Your like did Pants really? Mike's what?

Starting point is 00:31:55 Five, five, six. Did Pants really stay that way? Where's that 35% stat? I don't see the 35% stat. Did you take it out? Yeah, I fact checked it. There was something totally different. Oh, okay.

Starting point is 00:32:04 So, so let's take a look at this. So, here's some stats for you. Trump Biden clash was watched by at least 73 million viewers. Yeah. You know what I'm saying? Down 13% I thought. So, the television audience for the debate was down for the first debate between Trump and Hillary Clinton in 2016, but it was higher almost every other debate in modern history.

Starting point is 00:32:24 By almost any measure, the audience was massive. Massive today's Tuesday's clash was the biggest event on American TV since Super Bowl last February, February. Neil Sinset and Estimate is 73.1 million people watch Tuesday's debate across 16 channels. I mean, it wasn't a bad showing, if you think about how many people showed up to see it. Do you think it's going to be a bigger showing second look? They're saying that voters are more engaged across the demographic spectrum than they've been in a very long time.

Starting point is 00:32:53 I mean, if we don't see high voter turnout, I'll be shocked because of the amount of engagement. I mean, it's what everybody, it's what schoolchildren are talking about. I mean, this is, this is not a bad thing, by the way. They did a quiz every year on Constitution Day, which is my birthday. They do a quiz. They ask Americans if they can name the five rights in the first amendment,

Starting point is 00:33:18 and if they can name the three branches of the government. And this year was the best showing that they've had ever. In other words, people are really paying attention to America. And that is awesome. I mean, if you've got people engaged in studying our history, studying our constitution, that is a great thing.

Starting point is 00:33:37 I mean, you know, knowledge is power, period, and as long as we stay smart, we're gonna stay the big superparent in the world, period. You know who we have to thank for that. George W. George W. I think Trump, we do owe it to Trump for awakening people to say, hold on, what's going on here?

Starting point is 00:33:54 Whether you like him or don't like him. He's a welcome people. And you know, and I would say to his, No, you disagree. To his credit, I would say that you're never gonna be able to put the, the China genie back in the bottle. I don't think that there will ever be less scrutiny, no matter who's in the White House.

Starting point is 00:34:12 I think that all Americans now place China in a different place in their minds, and I think that that credit goes to Donald Trump. How would it go? For China. And you think that's a good thing? Well, I do. To walk around and say, oh, we know they've been stealing for years and be kind of, okay, fine, agnostic about it.

Starting point is 00:34:30 That's not okay. And I think that that is the bright light that he has shown on this situation is to say, this is national security. This is our identity. These people are, they want to steal from us. It's not acceptable. He's bullying the bully. China has been bullying US realistically for a long time.

Starting point is 00:34:46 Yeah. So I mean. You got a plan for it. You got a plan for it to see what's going on. So let's talk a little bit business. Let's talk a little bit business. So Harley Davidson's leaving India, world's largest motorcycle market.

Starting point is 00:34:57 Yeah, I don't get that. That's a little confusing. That's a demographic dream. They're young people coming up. They're leaving according to figures by this Society of India and automobile manufacturers. Hardly sold them mere 103 units in July 176 last month. There were rumors that Harley Davidson was planning to partner

Starting point is 00:35:15 with a local company as KTM and Triumph have done. But it has now opted out to leave the market altogether. Maybe Indians don't like Harley. I don't know, what is it? Competition. Competition in India. Honda, Yamaha. Padho also made that.

Starting point is 00:35:30 But Harley's got a different audience. It's more expensive than those other brands. It is more expensive, but it's Harley. When you talk about Harley, I don't think it has the same stature or stigma in India that it does have in America. You don't think there were rebels in India? You don't think?

Starting point is 00:35:46 When's the last time you saw an Indian guy that's like, you don't want to back him apart, buddy. That's right, come on, come on, buddy. I just, you know what, they don't have an India. You're doing the pick in my heart, come on, let's go, baby. I don't see it. That way it's not politically correct. I, Danielle, this is not called politically correct.

Starting point is 00:36:01 So what they don't, you guys are missing something fundamental. You've got a geeky economist in here. What India does not have is highways. They don't have highways. They got potholes. No, no, they literally, their infrastructure is in the, I mean, American companies that are there are gonna make a flippin' fortune

Starting point is 00:36:18 because compared to China, they don't have highways. They don't have a freeway system. I mean, somebody's gonna have to come in and invent that. And I mean, you think about Harley's on the open road, going through the Mojave desert with the wind flying through your hair. That's not happening, you're stuck in traffic. I was there and I gotta tell you,

Starting point is 00:36:35 they are some of the most reckless, safe drivers I've seen in my life. And I'm not even combining anything with them. That's exactly the word, because they drive so close to each other and you're thinking the entire time you're thinking about to crash everything's okay It's under control. That's like driving in a with a New York taxicab New York taxicab drivers they times words Yeah, but tell me indian drivers. Have you ever seen an accident? No Taxicab driver and no same incredible. Yeah, so reckless and safe at the same time. It's safe, reckless and safe at the same time.

Starting point is 00:37:06 So, they are some of layoffs. KPMG all-state and Goldman Sachs, big layoffs. KPMG laid off 1,400 employees. It's latest firm and professional services industries reduced headcount because of coronavirus pandemic. All-state, one of US largest insurers has says plans to lay off 3,800 employees. The layoff represents about 8% of insurance

Starting point is 00:37:25 approximately 4,6,000 employees. So 4,6,000, 3,800 is going to be gone. Of the job cuts about 1,000 are tied to the company's pandemic-related fund to policy holders. All-State Chief Executive Thomas Wilson said in an interview, Goldman Sachs, Bloomberg News, which first reported about the layoff said the bank was looking to cut

Starting point is 00:37:43 400 jobs, roughly 1% of its work for citing people familiar with the matter. And in Disney, 28,000 people have been let go while Disney has announced it will lay off 20,000 people at their theme parks. The layoff applied to domestic employees of which about 67% of parts. Part time. So what do you think is going on there? So the part, I mean, no insensitivity,

Starting point is 00:38:05 but the part-time workers don't move the economic needle as much as the high-end workers do. The problem that we're seeing, we have fresh layoff data this morning from Challenger Gray that they track aggregate layoff announcements throughout the country. 2.1 million layoffs announced so far this year, and that is higher than any

Starting point is 00:38:26 year in US history, including 2001 was the prior high. The problem that they're seeing, the problem that I'm seeing is that layoffs are going up the income ladder. The top two quintiles, the top 40% of earners in America account for 61% of spending. Can you say that one more time? The top two quintiles, the top 40% of earners in America, who make the most account for 61% of consumption. And our economy is consumption-driven. It's 2,3rds consumption. If you want to think about it differently,

Starting point is 00:38:57 they account for 42% of USGDP. That's a lot of money. So when you see white-collar layoffs, there is a trickle-down effect, but not in a good way, because the small businesses that rely on them, the dry cleaners, the restaurants, they're the ones who start to suffer if the biggest spenders lose their jobs. What's your solution, Danielle? I mean, you're an economist.

Starting point is 00:39:20 What's going on here? Look, there's more stimulus. What is it? Yes, on more stimulus, but for God's sake, get something out of it. I mean, so I'm, look, at least the Chinese get something for their money. I mean, they've got high-speed rails.

Starting point is 00:39:36 We've got potholes that would swallow a small car. We can't even agree that, think of all the oil field workers who are out of a job. Their skills are transferable. They can repair the bridges, they can repair the tunnels, you can put them to work immediately. The Corvettes engineers have got trillions and trillions of dollars of repairs to do. Do job skill training in Germany, they did job skill training starting after the financial crisis, they came in and they said, you know what, if they can't work in the old industry,

Starting point is 00:40:05 then we're gonna retrain them for the new industry. Their youth unemployment is in the single digits, unlike the rest of Europe, which is a cesspool of very high youth unemployment. Give people a way to make a living. People don't wanna have money thrown at them, but we need a return on the investment for the taxpayer money that's being spent.

Starting point is 00:40:25 Otherwise you're just going to put another bandaid on it and business travel is not coming back anytime soon and yet we're going to bail the airlines out again. And we're going to throw many people to not work. That is not the way America was designed to be. People, they have integrity in their work ethic, so help them find a way to earn an income for their families. Period. Pay them to work not to stay home. Yes. Okay. Or train them if they don't have the adequate skills, fine, whatever. What about infrastructure? You alluded to that in this. No, I mean, we have, we easily have $4 trillion of infrastructure

Starting point is 00:41:02 spending that we could tend to. And think about it. Think if you start repairing all the infrastructure around the country, you're shortening somebody's commute time in the future. You're making people's way of life a lot easier in the future. And you're also making sure that other countries like China that have built up world-class infrastructure aren't going to cook our goose one day. So, 64% of people say the economy's worst

Starting point is 00:41:28 than it was a year ago. Well, no kidding. 76% of Democrats say the economy's worse, only 50% of Republicans say the economy's worse. And there's been a debate about a K-shape recovery. The kind of recession is characterized by the fortunes of workers that go into one or two directions. The first segment of the population has its prospects recovered from a downturn almost

Starting point is 00:41:47 immediately and another suffers much longer. The differences between the rich and the poor, do you think the wealth gap is getting wider during the coronavirus? The this thing make it wider or not at all? Without a doubt. Without a doubt. That's where Jay Powell and his happy printing press come in. So the biggest companies have been bailed out, companies that should have gone out of business.

Starting point is 00:42:08 It's called creative destruction. You get rid of the unprofitable inefficient operators. You make room for the new entrance. It's the way productivity grows. But we haven't done that. Instead, we've kept all the businesses that are big and have access to the capital markets, access to high yield bonds, junk bonds. We've kept all of them in business.

Starting point is 00:42:26 He's kept the stock market at all time highs, so that the wealth, the 55% of Americans who own stocks, they're feeling awesome. And he's also bought up a third of mortgages. He owns a third of the mortgage market. That goes a long way towards giving you a 2.96% 30-year conventional mortgage rate. So Americans who have built up record levels of equity in their homes have pulled $100 billion out in home equity in the past six months alone and it's September 30, $100 billion of cash.

Starting point is 00:42:57 So if you own a home and if you own stocks, you're feeling awesome. You are living the dream. If you don't, you have a whole different perspective on life in America. That's what they talk about this K shape recovery, right? So initially they were talking about it's gonna be a V shape recovery, right? It's gonna, it's gonna, it's gonna, it's gonna, it's gonna, it's the top of the cake. It is a V. Okay. And for the bottom, it's, it's not.

Starting point is 00:43:21 Oh, I see, you took the cake and put it into a V. That's good. That's the thing. The top of the cake. In this, some industries do the cane and put it into a V. That's good. That's the thing. The top of the cane. Some industries do well. But the other ones don't. Well, the top of the cane applies to the halves. They were talking about a U-shaped recovery, right? It was going to take a bit longer than we were talking about.

Starting point is 00:43:36 Worst case scenario was it's an L-shaped recovery, right? If we don't know. I don't know if it's a halves and halves knots. I think it's industry. No, but if, again, 55% of Americans own stocks. So the other 45% are not enjoying the fruit of stocks being at all. So what's the solution?

Starting point is 00:43:52 What's the solution if the other 45% are not? Again, we have to enable people to live the dream. You're an entrepreneur. Right. You've brought lots of young employees on in your time. I did, but 95% of them quit. Well, I can't do, what I'm, We're surrounded by young people who have succeeded.

Starting point is 00:44:11 What I'm saying is on the sales side. No, no, what I'm saying on the sales side. So here's a challenge. So, so let's talk about a predotherey. Are you familiar with the predotherey? The predotherey is that 80% of work's gonna get down by 20% of people. Oh, well, no.

Starting point is 00:44:23 This is not a new thing. 80, 20 rule. 80. Oh, well, no. This is not a new thing. 80-20 rule. 80-20 rule applies in sports, if you yesterday. David scored 34 points. And, you know, he's the guy that scored the most points in LeBron James' teammate ever. 28-point, eight points in game. No one's ever...

Starting point is 00:44:39 Okay. You know, 80% of points were scored by 20% of guys pretty much. If you look at that number, it's not that, you know, you see the few producing them also then, the challenge with this concept of the rich getting rich at the poor getting poor, I have a challenge with that. And here's my challenge with that. If the challenge is to crucify the guys that made the right decision to invest

Starting point is 00:45:00 and the guys didn't, why are we saying the guys that are making money or bad people? They're making money because they stayed in the market. They're not bad people, but the people who don't own stocks, surely they don't have, they're getting buying credit cards. They don't have any money to invest. I know what it is to be in that situation. My debt was a cashier at a 99 cents store.

Starting point is 00:45:19 I mean, I, parents got a divorce. I was 49,000, debt at 22 years old. I get it. I had the option to go to Vegas every other week and I'm party or I had the option to save money. I hated saving money. So let me ask you a question. Do you think that the 80-20 rule applied

Starting point is 00:45:33 a few generations ago? Or do you think something has happened to the work ethic because we've given a generation of children. You know this. Sorry, soy boy. That we've given an entire generation of children. But just glad you're a virgin, man. No, I think.

Starting point is 00:45:47 Everything that they want. So young time magazine that an article six years ago, titled, you know, how millennials are becoming narcissists, right? All they care about is themselves and all this other stuff. And you read the articles, oh, millennials are this, millennials are dead. They want to take pictures of themselves. They think they're so important.

Starting point is 00:46:02 They think they're this, they think they're dead. You know how the article ended? The article ended. If, or, here's how it says, the article says, or if we are the ones that are making fun of millennials for only thinking about themselves, maybe we're just getting older and we forgot how we used to be. So what I'm trying to say is that story about when I was younger, I was growing, going to school and it was snowing and it was a mountain both ways, you know, the whole story you hear about that people are so hard. So I think times have been hard. I think obviously it's been harder than what it is today. Today is easier than it's ever been before. They had their coming of age in the little bit of financial crisis. I mean, I do think it's easier today ever before to make money.

Starting point is 00:46:42 Even in sales, like I'll give you an example, Instagram, if I want to find leads today, I do think it's easier today ever before to make money even in sales like I'll give you an example Instagram if I want to find leads today I can send a hundred DMs a day to network with people 40 years ago if I'm in sales I'm doing real estate. I have to have quarters in my car And if I'm driving an hour to person someone they don't pick up and it's raining I got to find a local you know a phone booth and wait for somebody to finish their call These are quarter. Yeah, I mean, it's a joke today to make money. I've got news for you. The generation behind the millennials, my experience, the interns we've had, they are work

Starting point is 00:47:14 horses. Gen Z. Gen Z. Yeah, they kick-ups. They work. They do. And work. And they're serious about it.

Starting point is 00:47:22 They save money. They're just, they have a different mindset. And I'm not too worried about this country's future, I'm not. Because I know that there's an entire generation coming up that will weather and with as long as they're not trading day trading. But there's another generation that does have a good old fashioned work ethic and I'm hopeful. What's the 8020 concept? Preto. Preto theory.

Starting point is 00:47:52 Preto, P-R-E-D-O. Preto, I think, is it a T or a D? Preto, whatever. 8020 rule. You'll do that's right. Pareto. Pareto. Pareto theory.

Starting point is 00:48:02 8020, right? So here's where I'm going with this. Yeah. We all have decisions to make. We all have 24 hours, right? We're all gonna sleep, you know, six to eight hours, some sleep four, some sleep eight, some sleep 10. But what are you doing with the rest of your day? Some people choose to spend their mornings

Starting point is 00:48:19 on a, with us on a podcast, learning, getting smarter. Yeah. Some people are reading, Some people at night, Kairi reads 10 books a day. Some people, some people in their spare time, choose to slack off, you know, smoke weed, play video games, BS. You know, it's also about what you do with your time.

Starting point is 00:48:36 So there's, I'm sure, a correlation with the 55% who are investing in America, who are reading or watching podcasts like this. First, a person who does their nine to five, they get off, they get their paycheck, you know, they smoke a joint, they sit at home, they do nothing, they play video games, they don't work out, there has to be a correlation with that. But I think the coronavirus is gonna end that.

Starting point is 00:48:55 I really do. Is gonna end what? Do what? I think the coronavirus is gonna change the way work is approached. I don't think the nine to fiveers got too long of a life expectancy in the workforce. I think that the coronavirus has expedited automation, like put it into hyperdrive. So I mean, it's living through a true risk. Very powerful what you just said, by the way. Did you hear what you just said? So you're saying

Starting point is 00:49:21 that nine to fiveer is not going to have a long lifespan, and what coronavirus did, automation is going to expedite that process. Look, if you're a JoeQ, human resources manager, and you've got all these people working remotely right now, all you have to do is pull a spreadsheet, and you just look at their numbers, and you're like, this person's productive, oh, I always thought this person was a slacker.

Starting point is 00:49:43 Look, they are, and it's objective. Yep. And you just go delete. And that's what, but, but now we see, I mean, you know, if a working mother who's got three kids doing three, you know, three different grades, doing, you know, different curriculums, and she can still produce, because who knows if she's up at two o'clock in the morning, when everybody, when everything finally settles down, but all I'm saying is that this is going to be something that separates the wheat from the chaff. I almost said something different. But, and it will be a game changer

Starting point is 00:50:14 in how the workforce itself evolves into its new self. Small businesses in America used to employ lots of people, human capital. Now people don't want to interact as much with humans. So even small businesses are automating. So it is time to realize, I'm back on my China soapbox, it is time to realize that they're inventing the next generation of technology and we need to get busy and make sure that we are in front of them.

Starting point is 00:50:43 I agree. I want to continue this topic, but I want to give a shout out to a couple people. We have one guy up there, I think his name was Boris, he gave $5 to say Trump's going to win a bilan slide, and we just have Rozvan. He'll notice, he gave $50, I believe, high-pad former international arm wrestling champion from Romania, just so you know, I will take you down.

Starting point is 00:50:59 I'm a pretty good armistice. I will take you down, you arm wrestling, you computer science started out, failed to tech startups. I wanna work for a vitamin. How do we make this happen? Okay, so you can send an email and we're always taking resumes. But let me get back to this.

Starting point is 00:51:12 Let me get back to this. So yeah, I read a story one time and here's what the story was. It's a very interesting story. I gotta tell you this. So this king finds out that this one guy who lives in his community dated his daughter, and he's not happy about it, because if you're going to date his daughter, you've got to marry his daughter. He's a king. How dare you touch his daughter?

Starting point is 00:51:36 So she's a princess. Yes. So this guy goes and starts telling everybody, look, I know the day the king's gonna die. He starts telling everybody, I'm telling you guys, I had a message that came from God, and I know exactly when the king is gonna die. Everybody starts asking, when is he gonna die? When is he gonna die? He says, if you want to, if you're gonna tell you

Starting point is 00:52:00 when the king's gonna die, take me to the king. So they take him to the king. And the king is furious that this guy messed around with his daughter. So they asked him, they said, I hear you know when I'm gonna die. He says, I know exactly when you're gonna die. One of my gonna die, a day after I die.

Starting point is 00:52:18 So he says, what happened? He says, you will die the day after I die. I got that call from God. Now it's not the truth. He's just telling this to the king. So the king was thinking about executing this guy that messed on with his daughter. Now he's sitting there saying, there you go. And if I kill this guy, I'm dying the next day.

Starting point is 00:52:35 This guy's got to live as long as possible. He then got a place in the palace and live with the king. I love it. This is a true story or not. It is what it is. It's a wonderful story. See why? What is the moral of the story? Here's the live with the king. I love it. Now whether this is a true story or not, it is what it is. It's a wonderful story. See why? What is the moral of the story?

Starting point is 00:52:48 Here's a moral of the story. When you were young when you were going out partying with your friends, you always had that one friend that was a good fighter. Maybe it wasn't the best looking guy, but it was a good fighter. And he was maybe annoying, but you knew if a fight broke out, broke out, he's gonna brawl and protect you.

Starting point is 00:53:08 Well, if it's Friday night, you think about going to the party, you're going to someone's place, you're like, yeah, I don't know if I'm gonna invite him or not, you're like, I'm gonna invite him because if some happens, I'm just glad he's on my team, okay.

Starting point is 00:53:18 Then you have to one friend that was very good at going to the club and he would go walk to the girls at the bar and say, hey ladies, how are you? Look, I see you guys are here with some friends. I got some friends here. Can I introduce them? Let's go, maybe we can have a drink.

Starting point is 00:53:29 Come on, there was a one friend that was very good at going at somebody like you. Very good at going and saying, hey, come on down. You know, let's let me introduce you to my friend. They alternate wing man. So the ultimate wing man, right? That's a big friend. Guess what?

Starting point is 00:53:40 And the point is, you always wanted to go out with that guy. Then do you have the one friend that had the connections at the bar and the bartender was his best friend. He can get drinks on the house. You always wanted to have that one person go to go out with that guy. Then do you have the one friend that had the connections at the bar and the bartender was his best friend? He can get drinks on the house. You always wanted to have that one person go to the club with you, right party with you. This is for the people that were in that scene. The point is every one of those people

Starting point is 00:53:55 locked in their position for Friday night to go out. The fighter, the connector, and the one that knew how to talk to the girls. They're gonna be invited to every party. They're going to be invited. I think people today have to really take a close look and rather than saying the rich are getting richer and this is not fair and all this other stuff,

Starting point is 00:54:14 you better find a way to make yourself irreplaceable today in the marketplace. If you don't find a way to create new skill sets, improve, get better, the next 5, 10, 15, 20 years are going to be very, very scary and hard for you and your family. I fully agree with what you just said. And it's gonna expedite the process because the stock, morning, Bruce sends an email, I shout out to morning,

Starting point is 00:54:41 they send an email out and they say, here's the companies that are doing good, Q3. That did good Q3 and it showed the fact that I think I was on that list. Five or what, no, if five or was number two, zoom was up 88% in their stock, if you can't pull that up, zoom was up 88%, five or was on that list. And on the bottom who was down, you were looking at,

Starting point is 00:55:02 they're like, ooh, these are kind of tough places to be. Moral to the story is, there's never, ever been an easier time to make money. There's never, ever been an easier time to get in front of the decision makers. There's never, ever been an easier time to sell. There's never, ever been an easier time to become wealthy. There's never, ever been an easier time

Starting point is 00:55:21 to create wealth for you and your family, yet at the same time. If you smoke weed and you party and you kick back and you relax and you don't read the books and you Netflix and chill 24-7. You go to every single party everybody invites you. When you come home from work rather than reading the book, you sit there and watch a new Netflix series that you connected to on episode number 93. I have watched every show of whatever whatever show you brag about it at work the next day.

Starting point is 00:55:46 There's a reason why you're broken quite frankly, I don't feel bad for you, because you've been sucked in by the entertainment. I don't wake up in the morning saying, oh my God, I had to call this morning with one of my guys, and we had a very, very good conversation together, okay, very, very good conversation together. And I told them, I said, look,

Starting point is 00:56:01 you have to realize a couple of things, man, we have paid you a lot of money this year. You've made a lot of money. Your family's taking care of. You've done a great things for your life. You've done a great things for your family. I said, but it's coming down to a point in your life right now where people need to stop motivating you.

Starting point is 00:56:18 I said, I understand that at some point, someone's got to motivate you. I understand that at some point, someone's got to get you going. But eventually, the motivator needs to learn to become self-motivated. Sure. I have no problem motivating somebody, but my ultimate outcome of motivating you is to eventually no longer need to motivate you because the goal is for you to eventually be self-motivated. So you say, I don't need this message anymore. Now it's about direction. First comes motivation, then comes direction, then comes execution. If the American people had five months where stimulus income is coming your way, whatever the timeline

Starting point is 00:56:51 was, you had the ability to take a master class, learn a skill, say goal or negotiation. If you had the time to improve yourself and you didn't and you unemployed, I'm sorry. Five months of a break was given to you to improve yourself. You didn't, it's nobody store. And now we're talking about another couple trillion to throw at the same problem. Five months of a break was given to you to improve yourself. You didn't, it's nobody's fault. I don't feel bad for there. And now we're talking about another couple trillion to throw at the same problem. So again, the return for taxpayers is not, all you have to do is be in front of a plumber

Starting point is 00:57:16 or an electrician or if you're air conditioner breaks. And just see what you've got to pay. This guy to walk through your front door. Okay, hi. And he's what, 40, 50 years old. Clearly, there are jobs to be had in the world. There's an exodus to the exerbs and the suburbs and people are buying more homes. This is low-hanging fruit.

Starting point is 00:57:37 I mean, we do need more vocational training in this country, but there are also ways that you can pull yourself up by your bootstraps and learn to skill yourself. And if you're seeing people make money, then that means that that's a good place to be. Period. And by the way, fixing your air conditioning is not automated. Fixing your commode is not automated. So just think about things that are going to be recession proof in the future. And go there. I talked to Pablo's homin. Is it homin?

Starting point is 00:58:06 That I see. Pablo's homin. I don't know if you know Pablo's homin is. He's one of the greatest hackers of our generation. He's got a video on YouTube, TEDx, I think 23 million views. And he's one of the biggest YouTube TEDx speakers when he gave the talk. He would sit here right now within five minutes. He has all your passwords on your phone, all the passwords on your phone.

Starting point is 00:58:22 That's what he does for a living. He's that good. He says he would go to Starbucks and sit around and the passwords on your phone. That's what he does for a living. He's that good. He says he would go to Starbucks and sit around and just find people's passwords. That's what he did for a living. He's a professional hacker. He was a number three employee at, is it Blue Origin, the first SpaceX, Blue Origin, which is a company started by Amazon to go to the moon. He was a number three employee, and he's directly worked with Jeff Bezos and Bill Gates.

Starting point is 00:58:42 Okay. Look what he said. He said something very interesting. Here's a hacker. Hackers are very weird, they're very different. You ask him a question and say, did you go to college and how come you didn't go to college? He says, you don't know what hackers are.

Starting point is 00:58:55 Hackers get kicked out of college. We don't get to go to college. Colleges don't want us to go to college because all we do is mess with their systems. So college is want us out of college. Like don't come over here because we're so curious we want to get into a system and figure stuff out. So, college is one us out of college. Like, don't come over here because we're so curious we wanna get into a system and figure stuff out. So, no, hackers don't go to college.

Starting point is 00:59:09 Is that okay? He says, do you realize the last 200 years, how many jobs mankind has created? Last 200 years, it's a very interesting stat. Last 200 years, how many jobs has mankind created? For example, changing tires, it's a job. How many people do it? 10,000 people, but it's one job, okay? Customer service, it's a job. How many people do it? Tens of millions, but it's one job, right? How many

Starting point is 00:59:36 jobs do you think man has created the last 200 years? How many professions? How many professions? Okay. Jobs where he can make five bucks an hour, ten bucks an hour, millions of dollars per year. How many different jobs? My God is telling can make five bucks an hour, ten bucks an hour, millions of dollars per year. How many different jobs? My God is telling me less than you would think. It's actually much bigger number. Really? And it's not profession because profession

Starting point is 00:59:52 will be financial advisor, realtor, you know, mortgage, ex, it's jobs. Occupation. Occupation. Occupation. I go, I go move a box from here, I'm a mover, I'm a trash, I'm a cleaner, I'm just, how many jobs do you think we've created last 200 years? Like box from here. I'm a mover. I'm a trash. I'm a cleaner. I'm just how many jobs do you think we've created

Starting point is 01:00:07 the last 200 years? Like look right here, okay. Look what's happening here. What would you say you do yourself here? Would you say you're an editor? What do you do yourself here? Technical, right? Technical, Eric, what do you do yourself?

Starting point is 01:00:19 Social media, social media, guy. What do you do yourself? Researcher, social media? Okay, so that's four different, right? Five, six, seven. So there's seven research, you got like five jobs. You don't have one job. Right, you have a lot of jobs that you do.

Starting point is 01:00:31 But there's been many jobs. What do you think that number's last 200 years? God, it would have to be in the thousands. It's a crazy number. Do you want to guess or are you afraid? No, I mean, 200 years. I mean, it's a bit of a... 100,000.

Starting point is 01:00:48 A three billion job. Three billion different jobs. What? Three billion occupations. Occupations. Occupations. Yes. Three billion different ways to make money in the last 20 years. Well, I'm sure you're used.

Starting point is 01:00:58 I mean, the railroad's had to get built so there were a million, you know, little... That's the point. Occupations, but three billion. What? As we have helped. Of jobs. So he's sitting here built to their million, you know, little occupations, but three billion, what? As we have helped. Of jobs. So he's sitting here.

Starting point is 01:01:08 And by the way, just so you know, he's a team build Gates vaccine, okay? He's a team, 100% of people in the world got to take a vaccine. He's a team, Trump is, you know, not the brightest guy in the world. He's a team, I'm just giving you the team, he's a part of.

Starting point is 01:01:23 He's not the team up. And then he still says, look, I'm just giving you the team, he's a part of. He's not the team of, and then he still says, look, I'm telling you right now, human mankind, if it's created three billion jobs the last 200 years, it's gonna create many more jobs. So man, we have to be creative to see how we can increase our market value. That's what we gotta do.

Starting point is 01:01:46 And you know what, there's no borders anymore. That's something. There's a wall though, we are building a wall. Well, not going there. Not going there, but there are no borders. The wall is gonna keep the corona. If you want the best editor in the world, I mean, that's

Starting point is 01:02:05 another thing the coronavirus has taught us. He's right there or he might be 3,000 miles away or he might be halfway around the world. The same situation applies to US workers. You can be found. I mean, there are people who've got hundreds of entire work forces in India and highly productive. What's to say that we cannot be the next generation? But again, workers, I think, are border free at this point. You can be anywhere in the world and work for anyone in the world in the world of tomorrow. I, I, I told you agree. You know how, how I kind of learn about them. We started creating content.

Starting point is 01:02:41 I didn't think much about them. Like, let me just create content. And I got an email from a guy in Lagos. I'm like, huh? I don't know anybody in Lagos. I just want you and I follow your content. Like we don't have that many subscribers. We had a couple hundred subscribers. You watch my content. Okay. My mother doesn't watch my content. You watch my content. It's pretty impressive, right? Then all of a sudden we started seeing more. Then all of a sudden you're walking in the airport

Starting point is 01:03:04 and you K guy stops you. They weren't perth, Croatia out of all the places. And I'm having a coffee, this husband and wife is going crazy. I'm like, we're not that big yet, right? Then all of a sudden we put a vote conference together last year, year and a half ago, whatever the time, year and a half ago. People show up from, I don't know what the country's was, 42 different countries, they showed up. 42 different, you flew all the way from Philippines? I had no idea.

Starting point is 01:03:30 Whereas then Philippines comes out with an article saying, the top entrepreneurs in the world to follow. Entrepreneur magazine Philippines, I was ranked ahead of Oprah Winfrey in Philippines. I've never been to Philippines. Never been to Philippines, But on that list, this market is changed fully with social media. If you want to be able to make money, if you want to be able to change your life, if you want to be able to do any of that stuff, if there's ever been a

Starting point is 01:03:55 time for you to be able to do it, it's today to do it. We have three different stories at this table, okay? Everybody at this table is doing okay. You had a way to turn around your story, would what you grew up to what you ended up doing. You were going to comedian or odd party, all this other stuff, all of a sudden, wonder you're like, listen, I'm gonna get serious about business, you're going to life set them and change your business,

Starting point is 01:04:13 boom, look where you are right now. You get to do what you're living in a dream, it's what I told you yesterday. You know, you ever did come in? I'm here with DDB. Can't DDB, I'm here with you. Can't DDB, yep. You know, you have your story,

Starting point is 01:04:23 what you're at right now, TV, people know know the name you're an expert nine years federal reserve You done all this other stuff billionaire subscribe to your content and I started a community college. How awesome is that? So the point is you know you had to even graduate from community guy you got kicked out. He's a hacker. I got to tell you I got VPN on my phone and on my laptop, you cannot have my password. Wow, that's a shout out for VPN. That's what I'm gonna say. That's what I'm gonna say.

Starting point is 01:04:51 It's a gamey, it's so good. By the way, if you're watching this and you enjoyed this, we're in the first half of the podcast, you put a thumbs up and shared this and comment below if you're watching this, we're gonna keep going to the second half of this. So let's talk a little bit about home sales. I know you briefly touched up on it. share this and comment below if you're watching this, we're gonna keep going to the second half of this. So let's talk about a little bit about home sales.

Starting point is 01:05:07 I know you briefly touched up on it. If you don't mind going a little bit deeper into it, pending home sales hits record high in August. Keyword, pending home sales. The National Association of Realtors, pending home sales indexes, 8.8% last month on an all time high of 132.8, signaling the US housing market rally continued

Starting point is 01:05:26 into the fall. Economists surveyed by Bloomberg expect an increase of 3.1%. What is happening in real estate? Well, so you have a once in a lifetime situation here, right? Think about where we were a year ago. If you were hip, if you were a millennial, you want it to be in the urban center, you want it to be in a high rise, you were wondering why there weren't enough grocery stores and things to

Starting point is 01:05:53 serve you. If you're living living the life downtown, all of these, I'm think about the cranes throughout America, all what the cranes have been building, big high rise office buildings, big high rise apartment. That has been flipped on its head. So I mean, all over my Twitter feed are people leaving California and moving to Prosper and moving to South Lake and that they've discovered life in Texas. But we have a mass exodus right now.

Starting point is 01:06:24 I have friends outside of New York City in Westchester County that have been trying to sell their house for two years. And they took it off the market when they saw how white hot, how quickly housing was heating up, as people were leaving New York City. And they're like, I'm taking my house off the market. I'm gonna wait until prices get where I really want them

Starting point is 01:06:43 to be, and they were smart. And then they got the price that they wanted. That is the fundamental driver. Behind that is J. Powell and his happy printing press, and the Federal Reserve buying up mortgage back securities, forcing 30-year conventional mortgage rates down to record lows. So then the question comes, is it fake or is it real? Is this fake growth? It is it is not the same growth that you think that it is because lenders are

Starting point is 01:07:11 You're starting to hear anecdotes from real estate agents. I got the offer. I got the buyer the seller except it the bank turned them down So lending standards are coming down if you talk about capital one down. So lending standards are coming down. If you talk about capital one, sink, crony, JP, mortgage, just credit card lines are being cut. Because remember, right now, you have 12 months of forbearance. Forbearance means that you do not have to pay your mortgage for 12 months through March of 2021. So I mean, if you're the lender, you're not happy at all. Or if you're a landlord in America, you're not happy at all. But from the perspective of,

Starting point is 01:07:49 we're in 64% of Americans think that the economy is worse today than it was a year ago. You look at the housing market, and you're like, the housing market begs to differ. Well, that's easy enough. When 15% of FHA loans and FHA loans are the ones that you get 3.5% down payments on, and that business is blowing up. It's huge. It's white hot, but 15% of those loans are

Starting point is 01:08:11 delinquent, but the banks can't foreclose. So you've got buyers buying into a white, white, white hot market, but a lot of it is being engineered and fabricated. So I'm a big fan of renting, right? So I'm that person that lives in the center of downtown Miami, like I don't even have a car. I'm not looking to move into the suburbs. That's my life in New York. Okay, so you understand that?

Starting point is 01:08:35 So my friends in New York, obviously, if you live in LA, you're driving all over Pat's. I went with Pat in LA, we're driving over every different city. It's hard to do that in LA, living in a city center. But if you're living in downtown Chicago downtown Boston downtown Miami even in Dallas over here You know, I'm a fan of renting so I mean I actually did an episode where 44% of homeowners regret Being a homeowner and 63% of millennials

Starting point is 01:09:01 Recreting a homeowner so people are seeing these super super super low interest rates Versus what they were 10, 20, 30 years ago when interest rates were double digits. And people say, of course, I need to get into the housing market. Of course, I need to refine it. Yeah, but they're looking at the tiny box of what the payment is. That's all they're looking at. And you're saying that it could end ugly.

Starting point is 01:09:20 I'm saying that a lot of, especially a lot of the first time home buyers who are getting into the market, they don't understand that their home prices have never been this high in the history of mankind. They don't know that they're buying in at the top of the market. Home prices have never been as high and interest rates have never been this low. Correct. So what's the correlation? When interest rates are low, home prices are high.

Starting point is 01:09:43 And yet you're hearing the national association of real interest say, well, pricing's becoming an issue, even with interest rates as low as they are. Even with more interest rates. That's a scary thought. That's the part when it becomes scary. Look, you know, your bodybuilder, when you no longer grow in,

Starting point is 01:09:59 and you're doing every single steroids in growth hormone in the body, there's a problem there. That's kind of, that's what's going on. That's kind of what's going on today, meaning you're doing every single thing to get the economy in real estate going and it's still barely hanging on and Powell comes out saying they're going to keep the interest rates at zero till 2023. Forever. Till 2023.

Starting point is 01:10:22 Well, in his press conference, he said that they kept interest rates at zero for seven years last time and nothing bad happened. Well, nothing bad happened because he came and printed more. So I look, we're talking about another $2 trillion of stimulus. But if you're throwing good money after bad and you're not getting anything for it, all you're gonna do is four months from now, we're gonna be talking about the next stimulus package. And how big it's gonna be.

Starting point is 01:10:53 Can I ask you a question? I just want, because you worked with the Dallas Fed, right? So I kind of want to get your opinion. We've got Drone Powell right now, running the Fed prior to him. We had Janet Yellen, prior to that, it was Bernacchi. All right, that was Alan Greenspan. And then prior to that was my uncle Alan Greenspan. Right, so who do you think did a good job?

Starting point is 01:11:12 Who's doing a horrible job? Who do you agree with? Who do you disagree with? What are your thoughts on just the Fed overall? You gotta go back one more. You gotta go back to Paul Voker. Paul, my guy, okay, tell me why. Because he didn't care what the stock market did,

Starting point is 01:11:25 he cared about the economy. And making sure that monetary policy was designed so that the US economy could be resilient. Alan Greenspan came in and a few days into office, the stock market crashes in 1987, he's got an admit obsession with the stock market. So he starts to manipulate the market so that no matter what happens, prices don't fall.

Starting point is 01:11:49 But that's not life. Life is, you take risks and there are consequences. But you've had four people in a row, starting with Greenspan, Bernanke, Yellen, now Powell, who are trying to make sure that they just hold it together. But how much better off would we be if one in every five US companies was not what we call a zombie? It's like night of the walking dead, one in five US companies.

Starting point is 01:12:15 And they're being kept alive just based on free money being out there. Do you want these companies to fail? These big companies? I do. You know what? And next year's innovators want these companies to fail. These big companies. I do. You know what? And next year's innovators want these companies to fail. Because if you don't take the bad capacity out of the system, there's no room for the new entrance.

Starting point is 01:12:31 That's how you get regenerative growth. Is you get the people who are bad-ass, business workers. You have to do that. And now we've got one in five US companies who are just, they don't make enough money to cover what they have to spend, to cover their interest on the debt they have. That's what a zombie is, it's pretty simple. What's a UPPD?

Starting point is 01:12:50 I totally agree with her, I mean, it's that simple. You have to have these big guys, this too big to fail is typically how many companies? Is it seven of them? It's five to seven names that they say? Oh, you mean the major bank's, you know? No, no, no, we make it under too big to fail. Like they'll say, there's these seven companies

Starting point is 01:13:04 that are too big to fail. We they'll say, there's the seven companies that are too big to fail. We cannot let them fail, right? And they'll talk about that. And it's typically five seven companies. And they'll say, oh, this company is officially added in the list of too big to fail companies, right? We cannot prevent them from going out of business.

Starting point is 01:13:18 And it's worse than it was and more concentrated than it was going into the way. So other than those top seven, as you say, if you're just a massive company, and you are a zombie company, as Danielle refers to. If you're a mission fail, of course you should fail. Yeah, of course.

Starting point is 01:13:33 That's what capitalism is. Right, right. Remember, the freedom to buy, the freedom to sell, the freedom to try, the freedom to fail. Okay, that's the system. That's capital's on freedom to buy. You have the freedom to buy, whatever you wanna buy. You have the freedom to sell. So, that's the system. That's capital's on freedom to buy. You have the freedom to buy whatever you wanna buy. You have the freedom to sell.

Starting point is 01:13:47 So what have you wanna sell? You have the freedom to try. Go for it, try something. But you also should have the freedom to fail. We've taken the fourth one out. That's a big problem. It's a huge problem. You gotta be able to fail.

Starting point is 01:13:58 If every single time, I'm playing offense and you're not letting me fail. I'm spoiled. Like if you have a kid, you know how you see a father builds a son at every single time. He builds them out at 16, then he has a bill on them at 18, then 22, then 24, then 33, then 39, then 48, then 52. You didn't build a leader. You build a dependent person.

Starting point is 01:14:21 These two big to fill companies are now dependent on the government to constantly bail them out It's not good for the economy. That's not capitalism, but we're just so you know that it's not that is not that's called crony That's when the that's when the people come out against capitalism and I'm with them I actually agree with them because why you letting these companies that can just go on throwing out or on throwing around their Weight because they're needed well companies come to mind like what are bear stones? Obviously folded during 2008 right bear stones was clearly not too big to fail Right, what companies should have failed this time around some cruise lines some airline companies

Starting point is 01:14:52 Oh, what other companies should have failed this time right it's not like I understand the whole argument that the airlines are a National need and it's a matter of national security. I get that But when you spend 96% of the money that you make on share buybacks, and then you have to go to the government for a handout. And when you're up late at night, throwing threats out there, we're going to fire everybody. If we don't get the stimulus too morrow,

Starting point is 01:15:20 when you're putting the feet to the fire of the politicians and the taxpayers of the United States, by the way. And you paid yourself all the bonuses and you've got your vacation homes and you're not missing a meal at all. But yet you're holding other people hostage because you didn't run your business efficiently enough to plan for a rainy day.

Starting point is 01:15:38 By the way, Delta, cleanest balance sheet in the country, they haven't had to push through with layoffs, because they didn't take too much debt on. And they're a different story. And so why don't we reward the companies that plan to survive, whether there's a bump in the economy or not, as opposed to rewarding the companies that can only survive if everything's going perfectly?

Starting point is 01:16:03 And then when the peanut butter hits the fan, then we have to go bail them out. Everything's incentive. Everything is incentive system. The way you had a couple parents spend some time with me this weekend, they asked me, how do you get your kids to read? And I said, it's very simple.

Starting point is 01:16:15 They just watched everything that happened. So Dylan, it's his birthday. He got 50 gifts. Just because you got 50 gifts, you don't play with all the 50 gifts, not in the beddivit household. And one of the guys got him some Lego I didn't say anything Dylan came up

Starting point is 01:16:28 Daddy look how cool this Lego is I said dude that's sick He said so how many books to have to read for this I said what do you think less negotiate? Wow, he says it's smaller than the other one. I said I agree. How about we make this one eight? I said I'm okay with that. So I do eight then we go build it together No, Pram. Can you put it up there so I can see it? I put all the stuff I buy for them at the top so they can see They can't reach it, but they can see what their toys are no problem. The couple that sitting next me They're like wow. I didn't even say anything. He came right he we shared the excitement we made a negotiation He knew he had to earn it to play the Lego. He came up with the number eight. I put up the incentive as a

Starting point is 01:17:07 compensation structure for him to see it. Now he's got to go read his compensation. You know, when it comes on, today's compensation structure is Hey, too big to fail. Whether you screw up or not, don't worry about it. Let's open a Lego right now. What are we doing? What are we doing? But then he knows how to he knows how to behave in the corporate world and not sit there and be like, I'm on my Facebook time. And you're like, no, you're working. Do you guys remember that video I did with the break in the TV

Starting point is 01:17:34 thing? I got to give a shout out to my daughter. This is a very special moment. Senif, you ever watched this? I want you to know how I handled this with you. So, so you have to teach these kids that they can't break things and there's different systems on how to do it. So we did this video with you. You did show? So I gotta show you this, this video,

Starting point is 01:17:52 there's a... As I first tell. Yeah, so this video that we go and we break the TV to say, hey, your next five moves, Paul. Yeah, it's pretty intense video that we made. You too. Anyway, so I go and they see the TV. So this weekend, she's got family over.

Starting point is 01:18:09 And she's spent on town with her peers and all this stuff. And I see her grabbing the Xbox remote and she just tap into TV. I just bought this TV. It's an 85 inch screen TV. She's tapping the TV, tapping the TV, tapping the TV. And she's smiling. And in all of a sudden, she has one big smile, and she really smiles.

Starting point is 01:18:26 By the way, this was a, is this the one? This is, yeah, this is the one. So watch this here, okay. So she shouldn't have seen this video, okay. Now that's her daddy doing it. It's a marketing video we made. You can pause it, Kai.

Starting point is 01:18:42 Oh, I thought that's what you did if they played too much Xbox. No, no, no, this was because- You read it book this was because Paul was watching one too many videos late at night on his phone okay and not Netflix so anyways that's a whole different story okay that's a that's a very sweet shout out to you Paul we love you baby you're amazing so anyways anyways so this is obviously Josh was this is marketing idea to do some like this so we did this video and then So Senna is sitting there and he's hitting she's hitting the TV I don't think anything about it because we're not watching that TV that night the next

Starting point is 01:19:18 Week two weeks later like just yesterday the next day We turn on the TV and and she um like, what is that on the TV? I'm like, what's what? Why is there a big circle on the TV? I'm like, what is that circle? I'm like, guys, who did that? And I'm looking around to see all the kids where they are, tickos now moving,

Starting point is 01:19:37 Dylan's now moving, Santa's hiding under the couch. I'm like, Santa, what are you doing down there? And she's hiding, like, oh my gosh. I said, come on, we gotta go talk. So she comes out, we go to the living bedroom. I said, what are you doing down there? And she's hiding like, oh my gosh. I said, come on, we gotta go talk. So she comes out, we go to the living bedroom. I said, why'd you do that? So you realize if you do that, and I'm not gonna replace the TV for a while

Starting point is 01:19:52 because I want them to see, to complain about the fact that they don't like how it looks. The TV's not getting replaced for some time. It's gonna sit just, I can buy, you know, go get it. You can afford another TV, I guess. But it's gonna sit right there for them to kind of see. Okay, you wanna break the TV next time?

Starting point is 01:20:09 Here's what happens. Then I said, what's your favorite toy? And this is a shout out to Teacron. I said, what's your favorite toy? She says, Elsa, I said, go grab your Elsa toy. So we took the Elsa toy and we threw it away. Now I grabbed it, I put it on a bag when she sees this,

Starting point is 01:20:22 I have it, I'm gonna give it to her six months, but I put it in a drawer. I kept it. And I said, if you show me that you can take care of the stuff that we have in our house, I'll buy you a bigger else toy. But if you can't take care of the stuff that we have in our house that we work very hard for, I'm not going to buy it for you. And I said, how does it feel right now you lost the else? Not good.

Starting point is 01:20:39 I said the same feels that we want to work hard for this TV. It doesn't feel good. You have to take care of yourself. Are you going to work on that stuff? Yes, I am. So now every time she watches a TV and Dylan says, why is there that hole on the TV? So that goes. So funny.

Starting point is 01:20:55 But the point is, our parents did certain things like this to us, to realize what you have to do. I think we got to do the same thing to somebody of these two big-to-fill companies. They got to feel a little bit of the pain. We can't just print my, hey, listen, can you give me another cup of $100 billion? Can you give me five billion dollars? I'm asking for, just give me another five billion dollars.

Starting point is 01:21:14 You can't do that too often. So since you talked about airlines, let's talk about this. 30,000 airline jobs, hanging the balance as lawmakers debate. Airlines agreed last spring not to lay off or for long for low any workers until October First as any condition as a condition of a $25 billion infusion of federal aid now bearing a last minute agreement on how much to spend on A pandemic relief package for the country nearly

Starting point is 01:21:38 50,000 airline workers are set to be furloughed Thursday, right? And in Pelosi goes back They're going back and forth. She's asking for the $2.2 trillion. There was a little bit of a pushback yesterday, so they came back. Nothing was finalized. American Airlines Group has warned that furloughs of 19,000 employees will start when existing US payroll support runs out at the end of the day, Wednesday.

Starting point is 01:22:01 Oh, they announced the last night. United Airlines holdings set earlier this week that it was planning to cut 12,000 jobs and smaller carriers are set to make additional reductions as well. So the layoffs could cap job losses already total 150,000 at the nation's four largest carriers based on employees who have left voluntarily

Starting point is 01:22:20 or taken temporary leave. So what's going on with the airline? Are we recovering? By the way, Kai, before she responds, can you pull up the TSA flight sheet to see how many people are traveling on daily basis? But go ahead, Daniel. So we are not.

Starting point is 01:22:34 And I'll tell you why, didn't you just say Zoom was the second number two, right? Yes. Company in the third quarter? First, 88%. OK, yeah. Zoom. If you talk to CEOs across the country, 88%. OK, yeah. Zoom.

Starting point is 01:22:45 If you talk to CEOs across the country, they know how to find their Zoom. And they know how consultants and businesses and conferences and meetings, they've already seen in their PNLs. They've already seen in their budgets what their budgets look like without travel. And they're like, wow, this is going straight to the bottom line.

Starting point is 01:23:09 And I've got these people on a Zoom call doing what I used to spend, put the person in first class, in business class, put them up in an ISO tell for a week, and then fly them back home to the family on the weekends. That business is not coming back for a while. It's not coming back for a good long time. The second element is international travels, not coming back for a long time. And I think Carrier's worldwide have told you that.

Starting point is 01:23:39 So can you profitably exist on leisure travel, the most cost conscious flyers. The answer is no. So then why are we giving them more money? If it's going to be a reduced footprint for some time because we are evolving to a new type of technology such that we don't have to get on an airplane to meet with somebody halfway across the country or halfway around the world. If that's the case, then companies might not ever go back to having huge travel budgets like they had before. So, I mean, that is something that should be factored into what politicians are discussing right now, because in three or four months time, when the next expiration comes and they're saying now we're going to fire them and you say well has business travel come back?

Starting point is 01:24:28 No. So is it going to be another 25 trillion, 25 billion? So that's that's the question. Well let me ask you this is is the airline industry the next newspaper? No, no, no, no. People will still want to go places. And the next supersonic jet is the next technology, the next generation of air travel is in the works. It is. But it's going to be, this is like New York real estate. It's going to be a long time.

Starting point is 01:24:59 What's a long time? What's a long time? Decades? I don't know that it's going to be decades. I don't know that we'll ever go back to where we were before. Yeah. Ever. And I don't think that the footprint will ever need to be as big as it is. I don't think capacity. The bigger layoffs we're seeing is with aircraft manufacturers. I mean, look, three to four percent EBITDA. You're not dealing with big margins. So and everybody keeps saying, oh, our flights are cheaper. Our flights are cheaper.

Starting point is 01:25:24 Our flights are cheaper. our flights are cheap, our flights are cheap, our flights are cheap, our flights are cheap. Because, no, flights, not service. That's why I'm saying, the leisure traveler is not where the margins used to be. It was the guy in first class, who was like, I'm Kohn Shares key at American Airlines,

Starting point is 01:25:39 I'm total road warrior, I live to fly, that's not coming back anytime soon. I kinda don't disagree by the way, that's what's weird. If you look at this year, this is daily travel, right? This is on the TSA side, on how many travelers we had, on 9.30 versus how many travelers we had a year ago on 2019, look at that, 6.34 was yesterday. Last year's same exact day, 2.82? Yeah, let's see what's the highest number

Starting point is 01:26:06 We cracked had the we crack a million at all. So I see 873 right there. Let's see if there's a number bigger than 873 Labor day was Labor day was pretty keep going Lord 935 okay 935 968 That's labor that's right keep going higher keep going keep going keep going keep going keep going keep going And then July 4th was the other was the other peak. Let's see what the other one is. Go to July 4th. So 960, I don't see any 800s for a while. And then July 4th, 466, 718, okay. So 968.

Starting point is 01:26:33 So they're not cracked a million. So they're not cracked a million. So, but here's the other part. I really enjoy this conversation with Pablo Solman, this hacker guy. You know, we talked about the virus, okay. We talked about the virus. We talked about a lot of things. He has the cure. He know, we talked about the virus, okay, we talked about the virus, we talked a lot of things.

Starting point is 01:26:45 He has the cure. He knows, he said, he says, look, I know exactly how to prevent hurricanes from happening. I said, then how come there's no, how come we're not stopping? He says, because there's not a business model for it. So what do you mean there's not a business model for? Wouldn't some governments give some money to be able,

Starting point is 01:26:58 he says, Pat, we know how to prevent a hurricane from happening. I said, if you know how to prevent a hurricane from happening, do you have a way of creating hurricanes? He starts laughing. He said, yes, we also know how to create a hurricane from happening. I said, if you know how to prevent a hurricane from happening, do you have a way of creating hurricanes? He starts laughing. He said, yes, we also know how to create a hurricane. I said, okay, how about fires? How come we can't put the fires out? His answer was, some of these fires we need.

Starting point is 01:27:14 It's actually good that we're having some fires. Some of these fires, but I said, we California's having way too many of them. He says, we have the technology, but there's not a business model for it. I said, the smartest people living California, how can we can't fix that? But we went to the vaccine.

Starting point is 01:27:26 He gave a very interesting answer. And again, remember, this guy is the guy that wants everybody to be vaccinated because he thinks that's the solution. And he thinks people who think vaccines are bad have issues. That's really what this guy thought. You have issues if you don't take the vaccine. So I'm giving you to know who he is with his positions before I tell you what he said.

Starting point is 01:27:46 He said one of the things that we made a mistake with is modern day travel. I said, what do you mean? He says, we travel way too much. He says, we travel way too much. He says, that's one of the reasons why. I said, what can we do to prevent the next coronavirus or next SARS or Ebola from happening?

Starting point is 01:28:02 He says, we need to minimize modern day travel. International travel is way too much. Think about this. Think about this whole concept of what airlines are going through today because when you go on a flight, like even myself, I'm on a flight a few months back, I'm going to Palm Springs to have a meeting with NLG. I don't know when it was. Maybe it was February or January to go to their strategy session that they're having at Palm Desert Ritzkroth. And so we go. And I'm sitting first class to have a meeting with NLG. I don't know when it was. Maybe it was February or January to go to their strategy session that they're having at Palm Desert Ritzkroth. And so we go.

Starting point is 01:28:28 And I'm sitting first class next to this guy. He's telling me about his husband and how they've been together for 28 years French guy. And this is January, okay? This is January. So he takes out his wipe and he starts wiping the seat. Oh my gosh, what a, well you're one of those guys. Cause guys got a fritz. So he starts wiping the seat. Oh my gosh what a you're one of those guys guys got a friend so he starts wiping his handle he starts wiping the

Starting point is 01:28:49 middle and he says here you go wipe your seat I'm like oh I'm good so I'm just trust me wipe your side start I'm like oh now I look like one of these guys that's why I always what and he's teaching me I always wipe the screen because you're gonna touch the screen wipe the screen wipe this so he's teaching me everything to wipe he says teaching me everything to wipe. He says, you also have to wipe the stain that you bring up, you know, first class of Petrature. He says, wipe this.

Starting point is 01:29:10 So he says, here's some hand sanitizer. I'm like, at this point in the game, I'm like, this is little too much. This guy's a whole three Corona. Pre-coronata, you're like, this guy's out of control. He's giving me all this stuff, so I'm like, I'm finally doing it, and I'm like, I'm kinda like doing it just to accommodate him.

Starting point is 01:29:24 We ended up having a three hour straight conversation, incredible conversation. We stayed in contact, really cool guy. We took shots, we joked around, he's worked in Iran at a hotel. We had a very good time together. Anyways, when we get off the fight, Jen is looking at me saying,

Starting point is 01:29:39 why are you guys hugging each other? We're just like, oh my God, just my new friend, we had the most ridiculous, full ridiculous football on gay 28 years married and we laughed the entire flight to Palm Springs, right? Now when I get on flights, I take out the spray. I'm doing the spray. I'm doing the wipe. I'm doing everything this guy did.

Starting point is 01:30:01 I'm yep. And I'm telling you, for anybody that knows me, you would have never seen me doing the wipes and all this guy did. I'm yep. And I'm telling you, for anybody that knows me, you would have never seen me doing the wipes and all this other stuff. I will not question, it's gonna be all right. When you see how quickly they turn trance, when you see how quickly they turn planes around, there's no way to clean them.

Starting point is 01:30:17 I agree, but the point I'm trying to make to you is, man, how long is it gonna take for us for people to try? Like let's just say you were doing business in China. You gonna take that travel, you can take that for people to try? Like, let's just say you were doing business in China. You're going to take that travel, you're going to take that fly back to China? I don't know. Let's just say you were running

Starting point is 01:30:29 Biss Devon China. You're going to fly to, you think, you think out of the millions of people that would travel, 100% of the million people are comfortably going to be willing to travel back to China? I don't know about that. I think there's going to be somethings taking place

Starting point is 01:30:41 with them. Maybe not China. Last year, last year I went to Australia, though, and I would go back. And there is technology out there. There is UV technology out there. There are entrepreneurs right now who are figuring out how to zap buildings and how to zap airplanes and make it quick and efficient.

Starting point is 01:30:59 And there are zappers out there. It's not so much that you have to clean surfaces with liquids. The technology exists in UV to make the germs go away and do it efficiently. The scale doesn't exist yet. But it's coming. They didn't get that ASAP.

Starting point is 01:31:16 They need to get that ASAP. But it's coming. I promise. I mean, I hope it's coming fast. I hope they get it very quickly because those guys, if they don't, that industry is not looking too pretty. If they don't figure out a solution fairly quickly, I really believe it's going to be problematic for the airline industry for some time. By the way, did you have any opinions on the Trump tax returns or no? The $750 or anything,

Starting point is 01:31:39 you're pretty reasonable when it comes on to things like this. You know, I look, he clearly, his tax returns might have been that of any other real estate developer on steroids. There are definitely some questionable expenses that he has taken. And the only thing I don't, that I don't think has been established is whether or not the statute of limitations on iris audits is

Starting point is 01:32:06 paused and whether or not a standing president can be audited or whether or not that situation goes into a holding pattern as long as he's in office. So I mean the the biggest thing at issue is the 72.9 million dollar refund that he got only by way of $2.9 million refund that he got only by way of legislation that Obama signed into law that changed the tax law that allowed him to go further back in time and Three more years, two and a half more years and club club club forward former losses that had no value prior to that But I think that if there was a smoking gun. I think we would have seen it by now. Yeah, I agree. I agree. And the reality of it is, no one's seen the return.

Starting point is 01:32:49 So no one really knows what's going on. And this old tax return thing, the first person that did the tax return, was it Nixon? Is Nixon the first person that started showing tax returns? Because prior to, I think FDR did a little bit, but then when... No, no, I think you're right.

Starting point is 01:33:00 I think you're right about that. Nixon was the first one. Yeah, FDR found the fact that he had stocks and not his own companies and all that stuff. That's the stuff that came back during FDR side. He also increased the taxes, but then it was found that it was unconstitutional for him or for the president's taxes to increase. So he was like a hypocrite in the sense of he was saying, I'll pay more taxes, but not himself.

Starting point is 01:33:24 He went to Congress and they lowered the tax return. Who is he, after the FDR? Yeah, you know, so this whole, you realize president doesn't have to show their tax returns. It's not like mandatory for them to show tax returns. When John Kerry did his returns, he showed his full return, but his wife's the rich one in the family.

Starting point is 01:33:41 She showed partial. The high-end ketchup, yeah. Yeah. Well, but I mean, look, $70,000 deductions for haircuts, paying along good consulting fees. There are definitely, let's put it this way, it was not presidential how he treated the US tax code by playing fast and loose, but did he break a law? I think if he'd broken a law, we would know it by now. If he wasn a president, I don't think any would be complaining. If it was just Donald Trump, the real estate mogul,

Starting point is 01:34:08 people would be like, you know, Donnie do what Donnie do is what it is, right? No, I mean, the real issue. That's what he's president, T. Yeah, there are. That's why people are questioning. And there are reasons that the district attorney in Manhattan is going to get the returns.

Starting point is 01:34:21 And there are certain Deutsche Bank loans that are in question and there are their entities where he didn't fully extricate himself and yet he took advantage of laws as if he had. There are some questionable things. But again, I don't think that with the standing president, that anything can be done. Do you think, did he think Obama on the debate was probably a little stark? I don't know if he did during the debate, but no, he did. He said something about, uh, thank you Obama, because of you, classic, you know, but he's actually should be thinking

Starting point is 01:34:54 Obama. It's the only reason he's got. He's got 70 million Obama helped the rich get richer. Yeah. Obama helped the rich get really dead. Obama helped the rich get richer and he bailed out a lot of people. Obama's a capitalist. Come on, guys. Obama's a good for the rich get really dead. Obama helped the rich get richer and he bailed out a lot of people. Obama's a capitalist. Come on, guys. Obama's a good for the rich people. Obama's a, he would be fallen under the crony side, though, because he helped out the bigger guys. That's what he did.

Starting point is 01:35:16 He helped out the bigger guys. He did, and I think that that's, you know, people think that, you know, the Democrats are for the people and the Republicans are for commerce. Rich people, yeah. Uh-uh. No, no. I mean, if you look back at Fannie and Freddie who got bailed out by the U.S. government, the third largest political contributions were made to Obama.

Starting point is 01:35:36 So, and by the way, who ran up our debt? It really fast paced quietly, quietly, while the Federal Reserve had interest rates at zero. But he- Speaking of Daniel, uh, debt, Danielle, because this is Reserve had interest rates at zero. But he's... Speaking of Daniel, because this is, you know, I'm intrigued by your mindset here. You ever see the US debt clock? Yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes, yes scary stuff. Almost 27 trillion. Okay, so like one of the, I get, like I don't play video games, but this is my definition of a video game.

Starting point is 01:36:09 I go in there and I watch all these numbers. Coming in debt per person, US, GDP, Bing, Bing, Bing. So if you can go to the debt time, the debt clock time machine, right? So, and you can top right, there you go, how you doing great today. And you can fast forward four years or go back four years.

Starting point is 01:36:25 So, Kai, what I want you to do is let's go back to 2008, right? Pre-recession. 10. 10 trillion, yeah? Is that 10 trillion? And happy holidays, we should end the year around 30. Okay. So, think about that.

Starting point is 01:36:39 So, now go back to where it is now, Kai. No, one of 2016, that's what you want to do. Wait a minute. Let's go, Lee, dear, right here, let's go. It's about 2016. 2016 to 2018. Okay, boom's what you want to do. Wait a minute. Let's go, Lee Deer right here, that's about 2016. 2016 is double. Okay, boom, now we're in 2013. That's my point, it was the quietest widening

Starting point is 01:36:50 of the social safety net in US history. It's after the art was in office. I'm not, this is a political point here. I'm going somewhere. This is not a political point, this is a monetary point. Kai, keep going. 2020, now we're 26, so we went from 10 to 20 to 26 go four years from now Kai Now we're 47

Starting point is 01:37:09 So when so okay who the hell came up with 47? That's just based on Social Security spending Medicare spending entitlements the baby boomers not gonna go from it's not gonna go from 27 to 47 trillion dollars I mean who okay, so all right wait a minute a minute, wait a minute, wait a minute. Donald J. Trump signed socialism into law. How do you put that genie back in the box? I agree. What do you mean he's so mean?

Starting point is 01:37:31 Socialism into law. It's just stimulus. And in your, yeah, that's socialism, of course. There was the alternative to do infrastructure spending. I don't agree with you. You're looking at me like I wanted it. You're saying we should have not had any stimulus package.

Starting point is 01:37:44 You're not. It's not that.. You're saying we could have spent the money of the country more smartly. Right now, how many men since the CARES Act just passed? Since March, it's been six months, yeah. Okay, so how many Americans would be at work right now? Had we done infrastructure spending as part of that bill? At least 10 million, yeah? Now, had we done infrastructure spending as part of that bill? How many? At least 10 million, yeah? No, probably not 10 million, but a lot more would be at work right now than they are.

Starting point is 01:38:13 But when you sign... Try getting people back. When you sign socialism in the law, when you pay people to not work, they get used to it. And they like it, which means that you get to keep... That means that 47 is conservative. Kai, why don't you bring something up? I think that's a conservative clock Kai, why don't you bring back the morning conservative clock? If we're gonna be, if we, if, if, if,

Starting point is 01:38:29 what do we just talk about? We just talked about industries not coming back, right? So if that is accurate, even slightly accurate, the US that clock, whether it's 30 trillion or 20, 27 trillion or 40 trillion, what does that do to America? Well, that's a point. But that's crazy amount of debt. What is that, again, we? Whether that's off by a few trillion or 40 trillion. What does that do to America? Well, that's a crazy amount of debt. What is that? Again, we whether that's off by a few trillion or not. Most Americans have grown up with falling interest rates. Everybody knows deflation, deflation, deflation. The cost of my TV is just cheaper and cheaper and cheaper. What's gotten more expensive your iPhone? But the cost of a lot of things have decreased over a factor of time. You want to run the debt up that much?

Starting point is 01:39:06 We're going to figure out what inflation was, which is before you were born. What do you think, Pat? About what? Just these numbers. Nothing, none of this stuff excites me. I'm not for it. In08, we should have let the guys go out of business. It should have been okay.

Starting point is 01:39:21 The only guy that paid back shot out to Bob Ben-Moseyy who died in 2012, AIG CEO that came back from MetLife. He was on his deathbed, living at De Grovenick, Croatia, and we did business with him for many years. We were as top-of-you-all-writing for him. For five long. I love, he would sit in the meeting, he says, let me tell you guys what happened. The other day I called my mother-in-law,

Starting point is 01:39:41 and I'd take my mother-in-law out to dinner all the time. When I went to dinner with my mother-in-law, my mother-in-law said I take my mother-in-law out to dinner all the time. When I went to dinner with my mother-in-law, my mother-in-law said, Bob, why don't you get back with my daughter? She says, women, don't you understand? I like you. I don't like your daughter right there.

Starting point is 01:39:55 So the leader shouldn't see that. That's how he was. So the mother-in-law. Oh my gosh, he's phenomenal. By the way, I think when he died, but both his ex-wife and his girlfriend were there holding his hands when he died. That's a way to go.

Starting point is 01:40:06 You got to respect that part right there when you got that kind of like, when you able to win the left and the right, I mean, he wasn't a great moderator. So tell me about me. That's a centrist for you. Yeah. That's a centrist for you. So when it comes down to, the guy, they got $183 billion. I had dinner with him in a CFO one time.

Starting point is 01:40:21 David Herzog. David Herzog is a guy that went from being a CFO. I think he was a CEO of CFO of American general to become a CFO of AIG. They went to the government. Got a $183 billion line. They paid it back within five, six years with $21 billion of interest. And Jim is still trying to pay back the debt. So you got to respect what these guys did at AIG, but that's not everybody. It's not everybody. Everybody else kept their money. Everybody kind of stuck around and they did their money. A cool story about Bob and Moshe when they actually brought him to save him.

Starting point is 01:40:49 And they said, so Bob, we really need you. And we think you're the right guy to do it. And he says, okay, well, this is my ask. He puts the number. They said, you want us to pay you 10 million here? He says, yes. I'm like a prostitute. I can be bought.

Starting point is 01:41:03 I'm just an expensive prostitute. They pay him his 10 million and you saved AIG. Bob is a unique type of guy. And when he died on the night he did, it was our award ceremony. It was a Mark Peterson. One of our friends came up and we had a very interesting moment because I love that guy.

Starting point is 01:41:21 Bob was a my kind of a guy. So this year, if we keep giving the money out, what happens to problem here is the fact that now the left doesn't have an argument against Trump. Because if Trump wouldn't have done this, they would have said if we weren't in house, we would have given you the money. So he did so.

Starting point is 01:41:34 Sorry, but when did Sanders drop out after the CARES Act? I mean, it's like, oh, he, I know. What am I going to do now? I want to socialism. We have socialism in mind. I know you want to go to the front of the truck. But can we bring up one top of a girl quick? What We have socialism in one. I know you want to go to the club. You want to go to the club. But can we bring up one topic real quick?

Starting point is 01:41:46 What about the new stimulus deal? I assume you're not for anything. Are you for anything? Or where are we at? With this new stimulus plan, this remake, heroes act part two, the heels act, where are we at with that? Again, you have an intractable problem

Starting point is 01:42:00 because a few months ago, you had 26, 30 million Americans collecting unemployment insurance, you got the same thing now. It is not productive to continually just throw money at people. So no more stimulus, that's the agreement. Well, but the problem is because of what has not been done in terms of making productive investments as a government is you're going to have a homeless crisis overnight. Look what's going on in LA.

Starting point is 01:42:29 I mean, when you think of all the people who cannot afford to pay their bills right now. So what do you do if people can pay their bills, there's COVID going on, they're homeless, you have to do something about the problem. You can't just be like, yo, you're too small to fail, buddy. Well, that's to fail, buddy. Anyway, this is the formula if you want to go into socialism. This is the formula. Keep giving free money and then have a guy stop giving free money. Then he goes from being Robin Hood to being the worst,

Starting point is 01:42:57 most hated man on earth worldwide. That's what happens to the guy. That's what's about to happen to him if he doesn't sign the next stimulus. He talks about a story. They're gonna show homelessness and they're gonna, it's called the Hegelian dialectic, which means create a problem.

Starting point is 01:43:13 But don't do it. Create a problem, okay? Then blame somebody for it. Then the person I created a problem come out and say, I'm here to save you. That's what's happening right now. Create a problem homelessness. Find somebody to point a finger and blame it, which is Trump and then come out and say, I'm here to save you. That's what's happening right now. Create a problem homelessness, find somebody to point a finger and blame that, which is Trump, and then come back and say,

Starting point is 01:43:29 it's why you need us. If we were here, you wouldn't have been homeless. If you were in us, we would have been amazing. It would have been so good for you. We are your heroes. Oh my gosh, Nuson, we love you so much. And then, boom, all this other stuff happens. It's a very simple formula.

Starting point is 01:43:42 It's a very formula that's been around for a long, long time that's been used today. So do you think Manuchin actually wants to cut a deal? Oh, yeah, I do. You think he does? Look, there's something else going on here. So what's going on? It's a little bit wonky, but what we call quantitative easing,

Starting point is 01:44:02 what people think of as money printing requires a product. J. Powell has to have something to buy in order to keep the stock market levitated. He needs treasury issuance. He needs fresh debt created so that he can buy it up and grow the Fed's balance sheet, which transmissions itself back, recycles itself back into the stock market. And that's why as the Fed's, as the growth of the Fed's balance sheet has been tapering off in recent weeks, we've seen a little bit of wobbliness in the markets. The markets have gone to the moon the last 72 hours on the hopes of this stimulus because

Starting point is 01:44:38 J. Powell is going to have more product to buy if he's got $2 trillion more of the Treasury is out there than the Fed's balance sheet can go from seven trillion to nine trillion. And he'll buy it all, and that Trump knows. And if you want to know why Pelosi doesn't want to do the stimulus and why she's pushing back as much as she is, it's because she knows that the one thing that can... The best thing to get him re-elected is that stocks are at all time highs on November 3rd.

Starting point is 01:45:04 If they do the stimulus stocks, we'll be at an all time high. But I tell you, the second half, second half of Trump, he doesn't have to get re-elected. Everything he wanted to do, he's gonna do in the second half. Good, bad, ugly, all of it. That's it.

Starting point is 01:45:17 Obama, Kier, finishing up the wall, going after the Clintons, going after everything he's gonna do on the second term. Everything. Good, bad, ugly, because he's gonna do on his second term, everything. Good, bad ugly, because he does, and by the way, rates are gonna go up, rates are gonna go up, the market's not gonna be as high, market's gonna take a little bit of a hit,

Starting point is 01:45:32 you're gonna see all that stuff happen on the second term. That's what's gonna happen to Danielle. We're making wonkiness under same thing. But let's go to the real debt clock because these people know, New York City, climate change clock in New York City counts down to global deadline. Did you guys know we only have seven years, 103 days, 15 hours, and 24 minutes left to live. That's the climate change that clock. Are you worried or no guys, we gotta go home.

Starting point is 01:46:02 I say we go, we go, we we go we go like have a couple shots I just got nice bottle of wine from a friend Arten who's got a book coming out 600 dollar I don't know what it is senior told me to be the bottle of wine We drink the bottle of wine. We go party. Maybe we go to Vegas for the last seven years that's left What are we doing working here? Seriously? Why am I working if we know that the end of the world is coming? Don't you worry about this? Seven years from no no, Pat? I mean, frozen or burnt?

Starting point is 01:46:27 That would be cool. Cryo genics, cryo genics. I'll show you for taking miles. I'll freeze you. I might be gonna be frozen or burnt. Yeah. What did this all say? Please stop.

Starting point is 01:46:40 No, we didn't shout it together. I didn't see it. You just offended Santa. I didn't hear it. You just offended Santa in our community. Guys, you have her doll hidden. No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, Did that caught? Look, have you seen the social dilemma? No, but I've heard good thing. I heard my sister even said it to me. I have you. And the secret that I've seen. Gee.

Starting point is 01:47:12 I mean, tell me about that. It's got the guy from Facebook who invented the like button. He's like, it was supposed to be something that spread happiness and joy. And all of a sudden, now it's something for twin-agers and teenage girls to judge themselves by, whether they have this many likes or not. So, but all insiders, all whistle blowers, all people who, their lives are set, they've got plenty of money to live for

Starting point is 01:47:35 the rest of their lives. They had absolutely no reason to do this. And they've all come out. And whether it's climate change, they went through a scene in this huge documentary that is revolutionary. I recommend everybody watch out. Is it called the Go? The social dilemma. Can you put the link below in the comment section so people can go to it? I watched it with my twins. My twins were like, their mouths were open.

Starting point is 01:47:57 I mean, they're almost 13-year-olds totally engaged. They went and they did what is climate change in a Google search. So they did it on the West Coast, in the middle of the country, and on the East Coast. And the first thing that pulls up is different depending on where you are. If you're on the left coast and you pull up climate change, it'll say climate change is an existential disaster. If you're smack in the middle of Trump country, in the middle of in the Midwest and you pull up climate change, the first thing that Google shows you knowing where you are is a hoax. Climate change is a hoax. You go over to the East Coast, again, you get back to

Starting point is 01:48:42 climate change is going to destroy the planet, but it dependant, and you know, if you're in the deep south, again. So, but that is how, that's why things like this, I see differently because you know that somebody with an agenda is manipulating you. And that, that's why I think the onus is on enjoy social media, exploit social media,

Starting point is 01:49:03 use social media to get ahead, but you got to do your own damn homework. You do because everybody's got an agenda and social media is a really effective and efficient way to to push your thoughts and your views whether they're right or wrong. And most of the time by the way, they're not. If there's an agenda, that means that it's not pure facts. And this is why you're making your kids read. Many people are saying the fact that they watch a story, coffee, said I watch a social dilemma on Netflix, it's really awesome. And I'm opening, Kai did you put the link below for people to get it?

Starting point is 01:49:36 Just put in the comment section so they can get it. But we're coming to the end of it. Here we have two topics to touch on. We can touch up on a Supreme Court nominee, Amy topics to touch on. We can touch up on Supreme Court nominee Amy Coney Barrett, or we can touch up on ballot harvesting project veritas with Ilhan Omar, which one do you want to touch on, pick it? Ladies, let's do Scotus. Let's do Scotus. Tell us about Scotus. Are you confident with the nominee that Trump has

Starting point is 01:50:00 chosen, Amy Coney Barrett. I think that what he did with choosing her is brilliant, because I have only read opinions from people on the left about her only, because you can read, you can have, you can have people validate your thinking all day and on Sundays. So I only read pieces from people, I read one from somebody who clerked with her when she was at the Supreme Court with Scalia. And he basically said that another woman who's now the dean of Stanford Law School and her were the most accomplished, brilliant jurists of that class. And he said, I don't agree with 99% of her views,

Starting point is 01:50:55 but you cannot take away the brilliance of her mind and her work ethic and her understanding of the law. And it was interesting because if you go back to the Kavanaugh hearings, which were just a circus, people with agendas again, and you see a speech by Susan Collins, Republican, Maine. She gave a speech that I made my 16-year-old read the speech from the beginning to the end, and she said, I did my job as a senator. I went and met with him. I went and read through his cases and his decisions. And this whole thing, saying

Starting point is 01:51:39 he's, you know, some right-wing crack job, look at his work, look at his body of work, you are wrong. And she's saying this to the Senate, this witch hunt is inappropriate for what we're supposed to be doing. We're supposed to be deciding whether or not this person is a jurist and capable of being on the Supreme Court. And so if nothing else, whether it's Trump or his advisors, somebody learned a lesson from that. And they got somebody who is bulletproof.

Starting point is 01:52:11 What do you think she'll, I mean, we're 31 days out from an election, 33, 33 days out. Do you think that there's gonna, a vote will be held? I, if there are no skeletons in her closet and it does not seem like there are, then there's no reason that there would be, that there wouldn't be an expedited vote. Now, the risk is, the risk is the constitution does not cap the number of justices at nine.

Starting point is 01:52:41 The cap in the Constitution is 15. And that's why during the debate a few nights ago, you kept hearing Trump press Biden on will you stack the court? Will you stack the court? Why won't you give your list of potential nominees? That's what he's talking about. Believe it or not, he's read that particular portion of the Constitution, because I don't think our president's read most of it.

Starting point is 01:53:02 But he understands that element that if the Senate is taken by the Democrats, they can come in and increase the size of the court to 15 such that the court would only be quote unquote stacked and right leaning for a short period of time. When's the last time it was more than nine? Never. But it could go to 15 years. FDR comes. It's never been more than nine, but that's the... It started off as six. Okay. And then... That was back in the 1800s. And then it shifted over to nine, but again,

Starting point is 01:53:35 the cap in the constitution is 15. So why has it never been over nine? It's well, it's... It seems like when things become habit, they become habitual. And that was just what it was and how it stayed. And you've always had a balance. FDR threatened when he was in office to stack the bench and to increase the number. Because FDR had a lot of a lot of his own agenda. Anyways, this is a pivotal time in US history. And we should be paying very close to what happens now, but also whether or not we're going to see the Constitution

Starting point is 01:54:12 itself by our politicians be used legally. What about the whole Merrick Garland argument? Meaning they nominated him. It was 10 months out. Now it's 60 days out. They nominated Amy Komi Barrett. Again, this was unseemly. It was arguably the wrong thing to do, but that has never stopped. Our president and- Or McConnell. Or McConnell.

Starting point is 01:54:42 And when the shoe was on the other foot, the votes weren't there. So they were able to push back. Right now they've got the votes. They've got the ammunition so they can push it for. Here's a question for you. Who does this help? Is this helping Trump's re-election chances or is this helping Biden? Oh, of course this helps Trump.

Starting point is 01:54:58 Look, if this thing, you can count ballots in Wisconsin up until November the 9th. There are more than 250 open lawsuits right now regarding the election going on through You can count ballots in Wisconsin up until November the 9th. There are more than 250 open lawsuits right now regarding the election going on throughout the country. Biden's got his army of lawyers, Trump's got his army of lawyers, they're all fighting these cases. If it's going to be Thanksgiving possibly

Starting point is 01:55:19 or maybe into December before we have a decision, if there is a chance that the Supreme Court, as was the case with Bush, is going to decide the election, then it's really what's happening with the Supreme Court is way more important than anything else if it's going to go to the highest court in the land.

Starting point is 01:55:39 Why do you think it would help Biden in this case? No. You asked the question. I'm saying why would it? I don't, why would it help? Yeah, why would it? Like, why would that even? Why would it help Biden?

Starting point is 01:55:49 The people that are so worried about Roe versus Wade, if there's ever a time for me to come out and show up, this is it. You know, if you really want to fight for that, like you have to realize, hey, the campaign on the left should be we have to win house, we have to. So let's just say he gets a Supreme Court. The campaign's gotta be if we win house, if we have should be we have to win house, we have to. So let's just say he gets a Supreme Court.

Starting point is 01:56:05 The campaign's got to be if we win house, if we have Senate and we have presidency, then we can increase the 9 to 11 and we can put in two new Supreme Court. That's exactly right. We can so the campaign's got to change from that angle. So I think this is an opening for them to campaign better and sell it better. There's many opportunities to use this as a way to market and help themselves. Many. There's many opportunities to use this as a way to market and help themselves, many. If Biden came out and started to outline who was gonna be in his cabinet,

Starting point is 01:56:29 he could get people's attention. Because everybody knows that it's not going to be just that one man. I mean, that much is known. Shout out to the two 2700 people that are watching right now. Also, Sarfina, who just gave $10 and we've had a few other people that are giving give 20 or $30 Shout out to all of you guys by the way

Starting point is 01:56:47 Since we're wrapping up here. There's a couple things I do want to do if you're enjoying this put a thumbs up and subscribe and click the Lert button so you're notified. I believe next Tuesday. I believe next Tuesday we're gonna have a special guest with us as well You will know who that guest is next Tuesday is gonna be a special one. Don't miss that one, but I got a special gift for you You know guess this next Tuesday is gonna be a special one. Don't miss that one, but I got a special gift for you. You know, Adam and I were talking a couple weeks ago, and you were telling me that Joe Kick is not one of the best pastors of all time. You said, subonus is the greatest big man pastor of all time.

Starting point is 01:57:17 I said Joe Kick. So bonus from the Portland Trailblazers, and I wouldn't have pulled up the stats, and subonus was averaging two assists again, and he's one of of the greatest so since you're such a big fan. I got his jersey I got a subonus You better sports I got this for you because you like you Thank you such an incredible You know pastor as a big man, but having said that like you okay

Starting point is 01:57:44 By the way, somebody said, Danielle, they follow you on Twitter, they would like to have you consider opening your own Facebook fan page and being more active because these videos can go viral if you don't have one. So some people want to see you have an A. She will consider it, and if she does, maybe on the next time she comes back as a guest on the podcast, she will announce it. So just write that down, you can talk to the team. So having said that, folks, we got two big announcements we'll be making as a guest on the podcast. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube.

Starting point is 01:58:05 I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube.

Starting point is 01:58:13 I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube.

Starting point is 01:58:21 I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. I'm on my YouTube. like that's a thumbs up button. Sauce could show today, Danielle, thank you for being back and being a guest on the first podcast here together. Guys, take care, goodbye, goodbye, goodbye, bye, bye, bye. you you

PBD Podcast - Reaction to Biden vs. Trump Debate | PBD Podcast | EP 16

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