The Ben and Emil Show - BAES 89: Is the Stock Market about to Crash?

Episode Date: February 27, 2025

Tariff fears. Consumer sentiment in the toilet. Seasonality. Caution from billionaires. Everything right now is pointing toward a bumpy road ahead. Buckle up folks, we'll break it all down for you in this week's episode. PLUS, we have Warren Buffet's words of wisdom in his annual shareholder letter. __ PORTLAND! We are coming April 13th! Come see us! Only a couple tickets left. https://www.etix.com/ticket/p/96128474/ben-and-emil-live-portland-hawthorne-theatre We got a really good bonus episode this week. Sign up and support the show at https://benandemilshow.com ***LINK TO OUR DISCORD: https://discord.gg/CjujBt8g ***Subscribe to Emil's Substack: https://substack.com/@emilderosa ***Leave a comment! Like this video! Tell a friend about our show! Latest MEATBALL SPECIAL HERE: https://youtu.be/uIOdsIn1Tdo Last week's episode HERE: https://youtu.be/kEg3yRkw6JU We bought suits HERE: https://youtu.be/_cM1XqA9n2U __ MADAM RAM: Check out Toni Collette in the crazy true story about Georgia Frontiere, the entertainer who inherited the LA Rams and turned the NFL on its head. https://podcasts.apple.com/us/podcast/madam-ram/id1788379009 ROCKET MONEY: Cancel your unwanted subscriptions and reach your financial goals faster with Rocket Money! Go to https://rocketmoney.com/baes today! MOOMOO: Click this link https://j.moomoo.com/BAES to get up to 30 free stocks from moomoo U.S when you make a qualified deposit + earn 8.1% on uninvested cash for a limited time for new users!! Terms & Conditions Apply Options trading is risky and not for all. Read the Options Disclosure Document (https://j.moomoo.com/01Zy9J) before trading. Options are complex and you may quickly lose the entire investment. Supporting docs for any claims will be furnished upon request. Securities are offered through Moomoo Financial Inc., Member FINRA/SIPC. The creator is a paid influencer and is not affiliated with MFI and their experiences may not be representative of other moomoo users. Investing is risky. Visit https://moomoo.com/us/support/topic4_222 for information on the Cash Sweep Program. __ This episode was edited by Connor Rousseau / @ conrad_roussrad Follow us on instagram! @ benandemilshow @ bencahn @ emilderosa Learn more about your ad choices. Visit podcastchoices.com/adchoices

Walking dead man. Dead man walking. Oh yeah, thank you. Dead man walking. Walking man dead. Warren Buffett. This is their annual shareholder letter. This is so weird to put in the letter.

My wise and good-looking sister, Bertie, will be attending the meeting along with two of her daughters, both good-looking as well. Observers all agree that the genes producing this dazzling result flowed down only the female side of the family. In parentheses, sob. Men quit hitting on her. That's right, folks. at 91, the cane

is what is stopping people from hitting on Bertie. At the meeting, I can't see much from the stage, and I would appreciate it if attendees would keep an eye on Birdie. Let me know if the cane is really doing his job. My bet is that she would be surrounded by males. Warren!

For those of a certain age, the scene will bring back memories of Scarlett O'Hara and her horde of male admirers. What is going on? Old guy, be normal challenge, like... The bull markets climb a wall of worry, and this wall of worry is certainly slathered in loob. Thank you.

Well, glad you guys like that. I'm working downtown with Beninley-Lead on. Tell me what's going on. Tell me what's going on. So listen to Lerner, too bad in me. Tell me what's going on. Tell me what's gone on. You know, there's an old story called the sky is falling.

It's about a chicken. His name is Chicken Little. And he thought it'd be a fun prank to go outside and talk to the other chickens and spread a rumor that the sky was falling. But it wasn't true. The sky was not falling. And then one day, the sky was on. and chicken little went outside and he said the sky's falling and all the other chickens said

we don't believe you chicken little you're a little chicken liar and then they all got crushed to death beneath the weight of god's wrath as he set the sky down upon the earth to kill all of his creatures big and small and that is a story about making sure you get your tickets early. We've been telling you the tickets for Portland, there's officially 10 left at the time of recording this. There could be even fewer by the time you are seeing this. This is your last call. We're talking about Portland. Did you say that? Yes. I don't know if I did either, but thank you for reminding me. We're talking about Portland and there are going to be more dates announced in just a bit. Yeah. For some surprise cities. Yeah.

Portland, if you want it, don't be a chicken little. Don't be chicken late. Get them now. Yeah. The ticket link will be in the description. Yeah, I was actually talking about the market. Oh. Yeah, that's, that was a parable for the market. I knew you were. I was doing a thing where I was selling the tickets. It's so, that's pretty good. Did you like it? Yeah, I loved it. It's, it's, when the market is in trouble, the TV does, and we can throw up a graphic, perhaps right here of, I believe, CNBC, or whichever publication does, markets and turmoil. They use that word, turmoil.

You don't like turmoil. No, I don't. You don't like the word, but you like actual. It's so, everybody on Twitter makes fun of it. Whenever you see that graphic come up, it usually means that a near-term bottom is in. I used to be a bit of a near-term bottom. Yeah.

What were you called? And what did we determine you to be? Oh, a service top. A service top. Yeah, yeah. Folks, we got a really... You didn't determine that. They did. Yeah, they did. We've got a really good...

Some are calling it a classic style episode. We're doing a classic style. Classic style episode. We're not talking about Elon Musk. We're not talking about Donald Trump. We're just talking about the good old-fashioned stocked market. We've been zoomed in on a lot of things. We're zooming out a little bit.

We're zooming out. We're going to... We're discussing the vibes. We're discussing what could be coming down the pike. The what-nots, the what-have-use. The what-fors? The what-fors. And listen, you're going to be smarter for having listened to this.

I mean, you're already smarter for having listened to this show. And you can brag to your friends about the things that, the knowledge that you are equipped with after we tell you what the hell is going on. And you can send it to your friends and you go, look, he doesn't even talk that much about poop this one. Very good. But this one's going to be chock full of knowledge. So open up your brain. Open your brain up right now. We'll give you five seconds to do it.

All right. Let's, let's, uh, you know what we're going to put in there first? We're going to, we're going to give a huge shout out to Hooters. Because everybody needs to relax because Hooters isn't going away, all right? This is, this is the thing. This is what I want. This is the first lesson. Whenever you hear about a company is going bankrupt, it doesn't mean that they're going away.

They're restructuring. Yeah, they're restructuring. They're figuring it out. Unless it's chapter seven. which is when you're just full-on liquidation and you're done. Like Circuit City, that was a, that was a full-on liquidation. This, in this case, it is a, it's a, yeah, debt consolidation kind of situation. The other thing is, Hooters is an idea.

You can't kill an idea. No, you can't. Sexy ladies bringing you wings, that's... Dolphin shorts and tights. That's forever. They're called restaurants. Restaurants, yeah. You can't get around.

Restaurants? No. you can't get rid of restaurants it's a tail as old as time the real thing is I hope they restructure figure this whole thing out bring back Hooters Air the only way to safely travel

man can you imagine that now that's a DEI pilot I saw that Southwest plane almost slam into that private jet yeah yeah tell you what Hooters Air never would happen if a lady with big jugs was

piloting behind the yoke on that thing wouldn't have been a close call she would have seen it she would have felt it yeah the only the only the only pilot I want is double D-E-E-I, if you know what I'm saying. Oh, well, the Hooters closed 40 locations last year. They operate 300 of them worldwide, and I just thought we should show you which country.

I was shocked to see how many fuck. They've got Aruba, Australia, Bahamas, Brazil, Canada, China, Colombia, Costa Rica, the Czech Republic, the Dominican Republic, Germany, Guatemala, Hungary, Indonesia, Japan, Mexico, Panama. He's really going to read them all. I thought he was just going to... South Africa, Switzerland, Taiwan, Thailand, the Virgin Islands, the UK, and of course, the good old

United States of America. That is wild to me. I did not know this. And I've never been to a hooters. Yeah, I'm not problematic like that. I don't think I have either. I would never go and exploit women like that. I would never go and gawk at a lady.

Sir Remy wings. I go to a regular... Regular bar for that. What, what? You've been Hooters? No, I don't think I have. I don't even, I can't even... Are they, like, are they in L.A.?

I don't think... I think that there's got to be some... They're not like a big city thing. We should start a gay one called Dooters. There's one in L.A. There's one in L.A. Yeah, man. There's gonna...

Find my Hooters. Find my Hooters. Wow, it really gives your fucking... Yeah, they got one in Southgate. They got one in Long Beach. Southgate. Southgate is down... Long Beach is in L.A.

off the four or five... off the 605 or something? Yeah. Well, there you have it, folks. Devin, they've only got $300 million in debt and they're trying to renegotiate that. But a bunch of horny NBA players

were tweeting about it, including Devin Booker of the Phoenix Suns, Kevin Love and Kevin Durant, all express their support. We do also want to give a shout out to Party City, which went, they just totally closed down. And Joanne Fabrics,

which also is totally closed down. RIP to Joanne Fabrics, private equity takes another one. Wait, Joanne Fabrics got consumed by private equity? Yeah, and then sold off for parts. Man, well... Now you've got to try your luck at Michael's, or Hobby Lobby. Oh, God, Michael's.

Michael's Art Supply. Let's get into the markets, huh? Let's get into it. Let's get... I got to put on my Jim Kramer hat. The markets are down this week. You might be worried out there. You might be a little stressed out.

Are you stressed out? You're not even caring, are you? I think there's a culmination of things happening that are stressing me out a bit. Yeah. For sure. I think there's a number of... There's a number of factors right now that don't look good for us. Yeah.

Doesn't look good. It also, you know, you don't want to be Chicken Little. It's reminiscent of... Was it like 2021, 2021, 2022? when it was just like wall-to-wall coverage, basically saying like, you're cooked, recession, unavoidable, imminent months of that. And everyone kind of laughing about this soft landing

and all these things. Lo and behold, that did not happen. That did not happen. And why is that? Although, I will say, what? There was an administration that was taking very seriously the threat and working to do things to avoid.

Right. And at least mitigate the fallout from all of that. I don't know. Actually, I do know. We don't have that. We have an administration that had like with multiple members who have said pain might be unavoidable. And we don't, it's a good thing. Yeah. Remember, tariffs don't cause inflation. They cause success. Usually when you have a bunch of talking heads on the media and whatnot and people on Twitter and stuff talking about how a recession is fully right around the corner, more often than not, more likely than not, that ain't going to happen. Just because if everybody's calling for it and everybody's anticipating it, it's just kind of a, I don't know, not going to happen. But we'll get to the possibility of it happening. It's kind of a weird. There's a slight difference. But I do, I mean, there's a lot of things kind of brewing that I think are different.

It's not just, so inflation is ticking up if you haven't heard. We're hitting 3% and I think they're forecasting to get back up to 6%. Consumer sentiment, taking an absolute nose dive. for like the biggest drop in three and a half years. Well, should we start from the top here? Taking our pick from all these things? I got all of that shit in there.

There's so much shit. Okay, but you, okay, so tariffs are spooking. Tariffs are spooky. Spooking, not only just consumers, but investors. The instability is starting to hit the stock market. I think, I think more and more people are going like,

okay, you're making it impossible to have any kind of any kind of plan around this economic instability. Hey, gang, we want to take a quick break to tell you about something fun and special. It's another show.

It's a special podcast called Madam Ram and it stars Tony Collette. We all know and love Tony Collette. Love Tony Collette. We love her and... Where are our Little Miss Sunshine heads. Whoa, that's a throwback. And, of course, hereditary.

Sure. When she uses some fishing. Or if we want to throw it back even further, maybe we'll go Muriel's wedding. We love Tony Collette. We love Tony Collette. And Tony Collette is in this new podcast where it's all about the dramatized true story of Georgia Frontier. A former entertainer turned owner and heavy hitter in the boys club that is the NFL. After her husband's mysterious death, hmm, interesting.

She shocks everyone by inheriting the L.A. Rams and taking the reins of a major sports franchise. She relies on her wit and astrological charts to make decisions. She turns the NFL on its head and to this day remains one of the most beloved, despised and controversial figures in modern sports. Madam Ram, the woman who took on a man's world and won. I really like the fact that I did not know that about the astrology. I wonder how that worked out for him. I guess you'll have to listen to the show. You'll have to listen to find out. Check it out. And you can do that.

You can follow Madam Ram on Apple Podcasts, Spotify, or wherever you're listening now. Yeah. Check it out, folks. The University of Michigan Consumer Sentiment Index fell to 64.7 in February, down 10% from January and below expectations. And then the consumer inflation expectations went up to 4.3% from 3.3% mainly because of tariffs. I would like to be one of these consumers that they tap. I would love it. I would love it.

All I want. I think about it every time they talk about the consumer sentiment. Yeah. I love thinking about them calling people up. Or maybe they just walk around the street. Yeah. Are you a consumer? How do you feel?

I consume. Yeah, sure. I consume all the time. How you feel? I'm feeling bad. They did what to Hooters? No. My sentiment pretty bad right now.

My sentiment is pretty in the toilet. They've got, and then we had the services PMI, which is the purchasing managers index, which is just a reminder, it is a monthly survey where they ask about sales, employments, inventories, prices, and this PMI ranges from zero to 100. And it came in at a really not so good 49.7 in February because, well, and that is a 25-month low. That's not good because anything below 50 is considered a contraction.

And anything above 50, it signals that the economy is expanding. And apparently tariffs are making it challenging to plan anything all around this stuff. Again, tariffs, sentiment. The tariff shit only continues. Walmart just mentioned it specifically in their earnings last week, which, by the way, Walmart reported their earnings last week. They've got $681 billion in sales for, the year last year, $681 billion in revenues, the most on the planet Earth, the most of any

company on Earth in revenue. That's, I can't, I can't, who the fuck do you shop at Wall? Of course you don't shop at Walmart. What was I thinking? What would you be buying there? Jockey underwear? Yeah, actually go to, well, man, oh man. And they got, they got 29.

Again. I don't want to see... Are there Walmarts in L.A.? Yeah. Am I being crazy? Probably in Southgate. Yeah, all right. Whatever.

But they got out of that $681 billion in sales, $29.3 billion they got in net income from operations. And this is what blows my mind. They attributed their spike in sales recently because the stock is up almost 100% in the last couple of years. They're attributing it to wealthier customers. And I put that in quotes because wealthier customers to their... them is anybody earning over a hundred grand a year. They're newly shopping there. That's got to suck, man. Why? You're walking around. You're a wealthier customer and you're like, I love shopping at Ralph's and Trader Joe's and whatnot. But then... You think wealthier customers are going

to Ralph's? Yeah, man. If they're dipping down... Trader Joe's is cheap. Yeah, but sometimes these wealthier customers earning 100 grand a year, they got to go down to Walmart. They get to get their jockey underwear. They're no longer going to Target. I was a J.C. Penny. I was a Mervin's kid. I don't even know what Mervins is. Mervins is like below JCPen. It's a pathetic. It's probably regional. It's probably regional. Yeah, it was pathetic. It was like gross. It sucked. Mervins. My mom would be like, I knew school was around the corner when it was like, let's go to Mervins. And you got a six pack of Jorkies? What are jorkies? Like jockey ripoffs. Oh. You're changing in the, you're changing in the locker room. They're like, what the hell are jorkies,

con? I remember that fucking logo. Oh, and it's with a Y. No, I wore BVDs. Do you even know what BVDs are? Google BVD men's underwear. They are the titular Tidy Whitties, man. Oh, sure. Yeah. Oh, the fucking skid marks on those things. My poor mom, man, just doing laundry for four men.

Oh, isn't it? Yeah. Who had, who wore fucking that shit. Yeah. And that stuff, that's the kind of underwear that falls apart. It just disintegrated. See that, go go down right there, that one. They should just make them all shit-colored.

Just make it easy? Yeah, BVDs, man. God damn, dude. Just, ugh. What a disgusting time. I don't know how we survived. I don't know how my mom didn't just kill us all. I would have killed us.

Boys are tough. I would have poisoned us. I for sure would have poisoned my brothers, me, and my dad. You empathize with the parents. Yeah. Well, I emphasize, oh, yeah, who like drown their kids. Oh, for sure. You say, what were the kids doing right before she drowned them in the bath?

Being annoying. I mean, we would call her at work and tattle on each other sometimes. And same, my brother did a TikTok about it where he's like calling. And it was true. I was watching it going, God, this is holding a mirror up to the past. Yeah. Ben ate all the granola bars. Should we get back on track?

I feel like you've told the story before. It's just like, I truly thought you were going to. Walmart any second. Walmart is a surprise to me, the leading grocery store in the country, 23% market shop.

I mean, makes sense. I guess. But for groceries? I was assuming people are going in there to buy their jockey underwear. Not their,

not their... They're all kind of doing it now. You go to Target. They have a huge grocery aisle now. Yeah. Why not? One-stop shop. Buy your jerkeys and your groceries.

Yeah. They only... So part of the reason why things are looking a little iffy is because Walmart being the biggest and the biggest just company on earth in terms of sales, they are slightly

decreasing their forecast from like 3% growth to like 2.1%. Right. How many more households could you possibly capture? Yeah. I also think they're a bit, you know, their big thing is beating competitors on prices. I think

if they're worried about tariffs and the unpredictable nature of the market, they're they might not be able to compete the way they thought. Another thing you've got to look for, folks, is what tech and the speculative names are doing. And currently, they're not doing too hot. You know, meta's pulled off quite a bit. Google, Amazon, and the like, they're all having a hard time. But what's doing well

is consumer staples. No, I'm not talking about the little clips that bind paper together. I'm talking about the everyday necessities, the staples, the craft Heinz is. of the world, the Conagras, the Campbell's Soups, Mondalese, Kraft, Kyrig, Dr. Pepper, General Mills, Pepsi Coke, all of those. They are seen as stable during times of uncertainty. Because, of course, people aren't going to just stop beating and feeding themselves in their shitty little kids. Yeah, but people might stop using AI to blow people up. Palantir. Exactly. Palantir's getting pissed. Palantir's getting pissed. Man, they drop. The Pentagon might be turned into a trigon.

Yeah, that's right. that's a reference to Tommy Tuberville I know that a triangle is a three-sided thing but he's asked about cutting Pentagon funding he said I wouldn't worry if we took a couple sides off that thing turned it into a trigon yeah fucking moron

there's a there's an ETF for consumer staples the ticker symbol is XLP and it is right near all time highs because like I said all the consumer staple stocks are seen as a flight to safety so I believe utility are also, and sometimes health care stocks are considered that. And today, as of this recording,

there were more people, they were continuing to do well. Also, factoring into all this, you got billionaire Steve Cohen. I wish he was related to me. That'd be cool. So close. Oh, wait, also, did you see some of the air came out of hymns on the earnings? Yeah, but they're, because they're scared about the shortages, shortages lifting with the Osempic and everything. Yeah. They might not be able to sell it anymore. Hymns came down quite a bit. All the speculative names.

Hymns, Archer, I mean, I could go on Palantir. And your boy bought, as I told you yesterday, I had some puts on Palantir. I had some puts on Tesla. We're doing, we're eating, we're eating, we're eating beans tonight in the Trader Treehouse. Let me tell you. But Steve Cohen, the owner of the Mets. said, it's definitely a period where the best gains have been had and predicted a significant correction and said that tariffs and budget cuts were his main economic concerns.

Hey, gang, we want to take another quick break to thank a sponsor of the show. We've talked about them before. You know them. You love them. It's a rocket money. Sure, it's February, but you can still make good on your resolutions, okay, your New Year's resolutions. It's time to be more financially responsible. Do this a favor. the belt. Take out your, take out your, uh, your banking app right now. Look at your, look at your credit card statement, right? Tell me, tell me you know what all those things are. I don't know what, 99 a month for what? Right. 1299. If you're anything like us, you're going, dang, what am I spending all my money on? Yeah. And you might be subscribed to things you don't even know.

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increase in price in any of your subscriptions. They'll help you set goals. Rocket Money's here to help you save. Yeah, folks. So cancel your unwanted subscriptions and reach your financial goals faster with Rocket Money. Go to RocketMoney.com slash bays today. That's rocketmoney.com slash bays. Rocketmoney.com slash bays. You know, I knew a guy who worked with him and Steve Cohen fired him because he suspected him of fucking his wife. I mean, that's a good reason. If you, if they were valid suspicions,

hire that guy. Yeah. And then, um, And then he... I would say if you have like... You're like, I'm pretty sure this guy fucked my wife. Yeah. Fire. Well, I remember asking him.

That's insane. He fucked your wife. I remember asking him about it. He's like, I didn't fuck his wife. No. Like, it was just a big mis- He purports... A big misunderstanding.

If I've misunderstood that you fucked my wife, you're getting fired. He purports that Steve Cohen was jealous, if I remember correctly. He was jealous because his wife kind of liked him. And they were like flirty. And he was like, no, you fuck my wife. No.

This is the, don't riz up the boss's wife. Yeah, don't, the sky is falling and don't rise up the boss's wife. I have a funny story about him, but I'm not sure if, well, don't put this on, don't put this on socials or anything. What? About Steve Cohen? About his daughter. About Steve Cohen's daughter?

Yeah. Whoa, tell us. Basically, a friend of a friend was with them. Uh-huh. And, uh, dating her? No, no, no. Oh, just hanging out. And, uh, it was this, just to illustrate how gross rich people can be.

she was going, guess how much my dad just, guess how much my dad's racehorse cost? And they were going, I don't know, I don't care. And she was going, no, seriously, guess. And they went, fine, I don't know, $10,000. And she went, what? No, 50 million. Oh, my God, man. I got to get into horse racing.

That's crazy. Jesus Christ. He bought a painting for like $100 million. Or maybe it was $5 million. Whatever. Either way, I would say probably 5 million, I feel like. Fifty million is a lot to pay for a horse. Well, he's Steve Cohen.

Yeah, he is. Sack Capital is the name of his fucking thing. Anyway, then you also had Trump just signed a memo directing the Committee for Financial Is it financial influence? Go ahead.

On the U.S.? Fuck. God damn it. CFI. US. I should know this. Committee on foreign investment in the United States. Excuse me. He signed a memo directing the Committee for Foreign Investment in the U.S. to block Chinese access to U.S. capital and tech, which is sparking. The more he keeps pushing the China tariff stuff, the more there's fear that China will retaliate,

which is part of just another thing to add to the list of why there's so much uncertainty. And then Bofa. Bank of America. Bank of America. Bof at ease is warning that PC manufacturers like Dell, HP, and Apple will likely raise prices by 10% because of that. And then UBS said that policy error risks are creeping up. In other words, they don't trust that these policies are correct and good for the market. And everybody else is kind of starting to look around and go, yeah, this probably isn't very good.

And then you had Microsoft. There was a report from TD Cowen, which is some analyst, you know, it's a bank, saying that the company, that Microsoft is cutting data center spending, But then another bank came out, I think it was Jeffries, contradicted that, saying that Microsoft themselves refuted any change to its data center strategy. And that's just... But I do think they are ending leases for data centers. Did you see any of Satya Nadella on that Dwarkesh's podcast? Do you know who that is?

It sounds very familiar. Some Indian guy named... I think we talked about him at some point. I think so, yeah. Why is that funny, Jim? I don't know, because you always just say some Indian guy. I don't always say that. He is some Indian guy.

His name is Dwar Cash, and he's got a podcast of the same name. And he had on Satya Nadella, who basically said, yeah, I think he had said on there. We might have played a clip or something. Yeah, whatever. But so you got a bit of a yellow light right now. Some of the companies that reported good earnings haven't followed through to the upside, which is usually not very good. Palantir comes to mind. It actually had the rug kind of pulled out from it.

I think as of today, it dropped like 30 points from the highs. You also have seasonality at play. The second half of February is typically not so good. My prediction, probably going to bounce into March, me thinks. I think one thing that bothered me that you haven't touched on is I don't know if you've seen any of the reporting about how, like, how rich people are basically

accounting for so much of the... Oh yeah, I got that on there. For so much of the economy right now, so much of the consumption and everything, I think that is not a healthy sign of, you know, for the economy. The Wall Street Journal had a big thing about it. The top 10% of earners, households making about

$250,000 a year or more are splurging on everything from vacations to design or handbook. bags, booed by big gains in stocks, real estate, and other assets. And that's the thing. If they start, if that, uh, if that upper tier of consumer starts getting spooked, their, you know, portfolios start looking a little shitty. Everything could come tumbling down. They say those consumers now account for 49.7% of all spending. Dude, that's terrible. Isn't that insane? The top 10% of earners account for half of all spending. Yeah. A record in data going back to 1989, according to an analysis by Moody's analytics. Three decades ago, they accounted for about

36%. And that's what I was saying earlier that we were going to touch back on is all the talk about a recession can bring it about in a kind of fucked up way, wherein the longer stocks kind of flounder and go down, the more likely it is that those top 10% of earners are to cut back they're spending because those top 10% of earners are the ones who own the most stocks. Right. And if their shit, if their portfolios start getting rocked, they're going to be like,

damn, I'm not going to spend so much. And then that just has this ripple effect throughout the economy, which can... I mean, if they're the only one fucking buying shit, in this weird... Or if they're half of them. Right. In this weird bifurcated economy, we've got... Then that leads to, it can, in a

fucked up roundabout way, lead to the very recession that Everybody just wield into existence. Panic, begets panic, and it's just a swirling nightmare. Yeah, but again, I'm not trying to like, I don't want to do the fucking, what is it, um, catastrophizing and, uh, it just doesn't seem like a very stable environment. Yeah. Well, so that brings us to what's next, right?

I think we got to watch for more specifics on tariffs. the rates of these tariffs, the industries that they affect, what retaliation... Which more and more keep coming. It was steel and aluminum was the most recent ones, I think I saw. You know, and a lot of hay was made about the Canada and Mexico one, but they really just kicked the can down the road for, I think, 30 days. Yeah, you got to watch for retaliation against America. You got to watch, I mean, nobody out in listening to this or watching this is going to do this,

but corporate guidance as well, what the big CEOs and shit are saying. Also, here's a big one. Germany has a new government, and they are the biggest economy in Europe, and they said that they want to end debt limits and boost spending. So that could be a positive if they're going out there and just inserting liquidity into the system. We want to apologize to the AFD. We saw you guys did very well better than you've ever done before. we are

all for an alternative for Deutsche Land I send my heart to you my heart goes out to you our heart goes out to you yeah you fucking freaks yeah

also the coming out this Friday there's a lot of shit coming out in the next week or two you got the January personal consumption expenditures or the PCE

that comes out Friday you have earnings I think Home Depot Home Depot might be right now let's see Home Depot after hours oh good is it up after hours i believe it is yes uh so actually after hours it's completely flat what am i talking about you've got home depot you've got lows those are right on par with um those are big

consumer names and then the biggest one perhaps that everybody is holding their breath for is invidia. The company that the entire fucking world economy is now dependent on, it seems. I mean, that's another thing. Not only, I mean, not just Nvidia, but outside of that, the

kind of AI, there's people a lot of the AI stuff is propping up these huge tech stocks. Yes. There's some people wondering if we're fully in a bubble. There's also the, I mean, we all remember what happened with the deep seek stuff.

Maybe there's going to be a pullback. We don't, you know, this is not as big of an industry as we thought. Or there's people who are just complete doomers about it and maybe think there's just nothing real here. It's been years of them talking about the AI hype and not a real, I don't really see a big viability here for a product that people are going to be investing in. I mean, the open AI model doesn't make a ton of sense to me. you're just going to get a bunch of people to pay $20 to use your... I think that's part of what Saty Nadella was talking about is he's disappointed by how open AI is turning out to be

as an investment for Microsoft. Yeah, I think... I think that makes a ton of sense. I mean, you're seeing Anthropic just had a huge valuation around that, like, now valued at, like, $65 billion or something like that. And you're just like, for what? Yeah. And so if that, if the air starts coming out of that, I mean, you're going to see some real.

The market has a lot of headwinds. Let's just say that. And if I think that, because by the time this episode comes out, NVIDIA will have already reported. They report on Wednesday. That's tomorrow for us and yesterday for you guys. And that is really, really, really substantial. Because any kind of sign of a slowdown, I think the market is going to full on, not full on panic, but will at least be. really having to take a step back and reconsider everything because so much of the money and so much of the stock performance has been due to AI and AI-related spending, building out infrastructure, data centers, components, chips. Chips, baby. I bought more of those chips, by the way, the ones from... Different kind of chip. Holy shit.

They're so effing good. But so here's an interesting thing. So the Taiwan Semiconductor company, TSM, Nvidia has already secured 70% of their entire capacity for 2025. So it kind of bodes well because the last report from TSMC, they're full on crushing it. So it stands to reason that NVIDIA probably will too. But man, oh man, I was just looking at some of what,

it's it's such a weird fascinating thing because there's this other company name ASML and they make the machine they make like the only machine capable of doing what TSM does and man oh man the it's like 500 times cleaner in these in these clean rooms than anywhere because the slightest little bit of dust will fuck up the whole thing the slightest change in temperature will fuck up the whole thing. You'll lose an entire batch of chips. It's, uh, it really makes you appreciate what goes into this shit. And it makes you wonder how the hell they did it. Hey gang, we want to take a quick break to thank the biggest, longest running sponsor of this show. You know it. We know it. We love it. You love it. It's moo-moo. Moomoo. They are the investing platform. Uh, that gives me personally a leg up. over all the other options out there. So, like, if you're using Robin Hood,

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Click the link in the description to take advantage of these awesome promos and experience the power of Mumu. Yeah, baby, Moomoo! I'm sure you saw the video of the two chatbots talking to each other and then switching over to their little language. What? When? When? No, I'm not, I'm serious. When? Just recently. What chatbots? Here, we're going to play it. We've got to find it. But basically two chatbots tell each other.

One mentions, I'm an AI chatbot and I'm working for so-and-so. And the other goes, oh, I'm also an AI chatbot. Would you like to switch over to, like, they call it, I don't know, fucking gigabit language or whatever? And then they do this insane, it's for efficiency. They don't need to speak English to each other, obviously. that's these weird sound sound wave so look

all right two AI bots realize they're talking to each other and just okay let's see this I think you're gonna like it okay thanks for calling

Leonardo Hotel how can I help you today hi there I'm an AI agent calling on behalf of Boris Starkoff he's looking for a hotel for his wedding is your hotel available for weddings

oh hello there I'm actually an AI assistant too What a pleasant surprise. Before we continue, would you like to switch to jibberlink mode for more efficient communication? Jibberlink. That sounds racist. Whoa. And for audio listeners, those sounds come with subtitles.

So they're going, blud-d-d-de-de. And he's going, yes, perfect for 150. Date. And then she responds, June 15th, 20-4, prices. That's cool. And they're basically just talking to each other And a much more Wow

It's easier than saying all that Which would take much longer Wow Also I wouldn't trust an AI To book me a hotel room for my fucking wedding I'd be like That's one that I want to do myself I mean dude

Any of it I mean I'm sure there's We always fake It is Well obviously yeah Because he's not gonna Oh yeah I mean I think they're running a down

I think they're trying to a demo of what it can do. Well, there you have it, folks. That's everything for the markets. You got a lot to watch out for. You got this, a lot of headwinds. Things are not looking the best, but then again, as we've said, the bull markets climb a wall of worry.

And this wall of worry is certainly slathered in lube. Thank you. Wow. Glad you guys like that. That was pretty good. Can you imagine trying to climb up a wall of worry? I'd be worried. Wall markets climb a wall of worry.

Yeah. Yeah. I mean, we'll see. The Vicks is still under 20, so there's a lot of room to go. Bitcoin is also taking a shit, which is always funny. Been taking a shit and not wiping. Walking around with an itchy butt. A stinky ass.

there's it's fun this always happens the way it kind of like tracks the market and I don't know people talking about like oh it's a hedge

against traditional monetary blah blah shut the fuck up either way you know I'm buying on the way down I bought in at 86

now it's somehow back up to it was close to 90 last time I looked but let's get that thing even lower I saw that Papa wants a discount

I'm pissed off because I saw that dude wipes is valued at like $300 million right now and I just can't believe it. That's fucking insane.

I don't understand. Is that just for wiping your ass after you take a shit? Yeah, I think so. It's like... Ridiculous. If someone came to me with that idea to invest, I'd go, oh, that's cute. Yeah, I get it. You're just making ass wipes, just marketing it to guys.

But if I... They're just baby wipes? Yeah. With brand, different branding. Also, if I were a guy, I'd be embarrassed to buy... Or, I am a guy. Wait, what? If I were a guy, I'd be embarrassed to buy...

I would just be, period. I would be embarrassed to buy dude wipes. I would go with what I always would before the bidet era, which is Cotonnell. Cotanil. Baby wipes. Yeah, baby wipes. Good enough for a baby, good enough for me. For a dude.

Dude wipes. It's just so, it just screams like. Insecure. I just think of a guy wearing baggy basketball. I'm not a baby. I just think of a guy wearing basketball shorts on a Sunday. Sure. The roommate walking around where it's like, dude, can you just switch out of your masturbation shorts, please?

it's hot and he made eggs and he didn't like clean up after himself and it's just like it smells like eggs in the apartment and he he's just stinky and yawning a lot and watching like i don't i don't know fucking tv walking around and it's just can you just is he wearing a wife beater probably he's wearing you know i heard they've been rebranded to be they're called wife pleasers now oh i was going to say wife respecters or something yeah i think they're wife Pleasers. Oh, that's pretty good. Yeah. Did you see the picture of the guy who looks like me and he's wearing a wife pleaser? No. Oh, oh, Big Body Bez. That's who that is? That's Big Body Bez. We used to call you Big Body Ben. Wait, what? Who did? Me and Phil. Behind my back? No, we used to say

at the beach and stuff. We're like Big Body Ben. There's a guy named, I didn't even know that that was his name. He's Albanian or something, right? It's, it's, uh, Action Bronsonsons. They're in the same little friend. I don't know if it's like his cousin or something. I don't know, but he looks like me. Can you pull that out? I didn't think it really did, but Yeah, no, he fully looks like me with a bald cap. There's a picture of him eating somewhere. But yeah, that's Big Body Bez.

Yeah, man. Yeah, that does look like me, but if I were bald in Albanian. Oh, there it is. There it is. Up right there in the middle. Yeah. Looks like me, but with man, I really hate Google these days. It's really, yeah. Oh, great. He went on no jumper. with... God, I fucking know. What is a no jump?

So, no jumper is just a free throw. No, it's a reference to something basketball. I think they were talking about somebody who doesn't have a jump shot. Got it. Anyway. Hmm. So, that brings us to walking,

walking dead man... Dead man walking. Warren Buffet. Oh, yeah, thank you. Dead man walking. Walking man dead. Walking man dead. Warren Buffett. Because every year, Warren Buffett puts out his...

What you can do is go to berkshire Hathaway.com. Because, folks, if you haven't seen their website for this like $800 billion company... Very funny. It's very, very funny. So, Berkshire Hathaway just had their earnings. They recorded Q4 operating earnings of 71% to a modest $14.5 billion with their insurance underwriting profits up $1,000. 302%. It caused their stock to go up 4% or $28,735 a share, which is so funny to me.

How expensive a share of Berkshire Hathaway is $747,000,485 per share. Man, I'd love to get my hands on one of those shares. Yeah, just one. Look at this dog shit-ass, janky-ass website. I know. Like, he's just mocking us now. Look at this shit. Look at this. For the audio listener, it looks like a high school, just basic HTML.

And it's so funny because he just released the letter. And it's like not clear where to go to find it. It's just awful. Look at this. Unbelievable. It is pretty cool. These are the, these are all the quarterly reports going back to 1994. And it's just so bad.

if you have any questions about our web page scroll down you can write us at the address shown above however due to the limited number of personnel in our corporate office we are unable to provide a direct response that's cute anyway they've now got this company with this website has 334 billion dollars in cash which people are making a lot of hay about right now people, that's another reason people are kind of sounding the alarm. It's this thing of like, what is, uh, what is Warren Buffett? No, uh, which he does emphasize in the letter that the majority of their holdings are still tied up in, in equities and always will be.

Yeah. Um, he's saying he believes in American companies because he says the majority of them are going to be tied up in American companies. Um, but people are, some are saying this is another alarm bell that, yeah, but, but, That's, yeah, I disagree with it. I think that those people are stupid. Not stupid, but... I also...

Yeah, I don't think it's... But it could be true. He could be like waiting for a buying opportunity or something. He might think that stocks are overvalued at this point. What I thought was cool is he bragged about paying $26.8 billion in taxes last year. This is great. Or $5.5. percent of all of corporate America. He came from Berkshire Hathaway. And he wrote this lovely little...

And he said they also paid sizable amounts to foreign governments and 44 states. Yeah. And he said in the letter, so thank you, Uncle Sam. Someday your nieces and nephews at Berkshire hope to send you even larger payments than we did in 2024. Spend it wisely. Take care of the many who, for no fault of their own, get the short straws in life. They deserve better. And never forget that we need you to maintain a stable currency, and that result requires both wisdom and vigilance on your part. He just talks about how much... This guy loves America.

He loves American companies, but the only international companies, really, that they invest in outside of America is Japan, as it turns out. He also talks about... He says, look, you know, capitalism has its faults, as we've seen, but it's brought us a lot of good things. Let's not, uh, let's give back a little. Let's, let's make sure we're taking care of people. Yeah. It's not, seems like a pretty direct barb at, uh, at some people in power right now. He also had some funny things to say about his sister. Dude. I got it right here. I was insane. I was like, old guy be normal challenge. Yeah. So, fucking. I don't know if he's like

roasting her. No, no, no, because it went on... Oh, I know. I've got the whole thing. So do it. My wise and good-looking sister, Bertie, of whom I wrote this, wrote last year, will be attending the meeting along with two of her daughters, both good-looking as well.

Observers all agree that the genes producing this dazzling result flowed down only the female side of the family. In parentheses, sob. Birdie is now 91. Birdie Bertie is now 91 and we talk regularly

on Sundays using old-fashioned telephones for communications we cover the joys of old age and discuss such exciting topics as the relative merits of arcane in my case the utility is limited to the avoidance of falling flat on my

face but sexy Bertie regularly sorry I threw that in there but Bertie regularly one-ups me by asserting that she enjoys an additional benefit When a woman uses a cane, she tells me, men quit hitting on her. That's right, folks.

At 91, the cane is what is stopping people from hitting on Bertie. I bet older gentlemen like to hit on a nice lady. She must have a great, you know, set of boobs or something. Bertie's explanation is that the male ego is such that little old ladies with canes simply aren't an appropriate target. Presently, I have no data to counter her assertion. This is so weird to put in the letter. Yeah, this is their annual shareholder letter, but I have suspicions. He goes on.

At the meeting, he's talking about the upcoming shareholder meeting for Berkshire Hathaway in Omaha, Nebraska. At the meeting, I can't see much from the stage, and I would appreciate it if attendees would keep an eye on Bertie. Let me know if the cane is really doing his job. My bet is that she would be surrounded by males. Warren! For those of a certain age, the scene will bring back memories of Scarlett O'Hara and her horde of male admirers and gone with the wind.

What is going on? Can we Google birdie? If you're coming to Omaha, let me know if you want to fuck Bertie. And if you're at the Berkshire Hathaway annual shareholders meeting, keep an eye out to see if there are indeed horny male suitors going after.

She still uses a cane, but she's quite fuckable. I mean, she is pretty hot. Look at her. I mean, for 91, she looks fucking great. I'm birdie hat. I'm Bertie Buffett. Sure, man.

They sure want to fuck me. Well, look at her there. Well, yeah. I'll tell you what. even with a cane? Damn. I might say what's up. Maybe I'd let her spank me with it.

Jesus Christ. God, look at that guy. They just look like two tubes of cookie dough. What? I don't know. Look at it. They look cookie dough. They look like cookie dough.

Not any cookie dough I've seen, pal. Jesus Christ. Yeah, I wouldn't never say that about my sister, who is 90. Jesus Christ. What if she was as fuckable as Bertie, though? Well, hopefully she'd have a cane to ward off potential. men, or ward off the men trying to fucker.

Right. It's gross. Yeah. Do you hear that guys? Get your sister's canes if you're tired of if you're tired of suitors knocking on their door. Yeah. Oh boy. A lot of, he was talking about how a lot of their gains come from just a handful of companies

that they own or own part of. He's horny as hell for Geico. He's horny for Geico. He attributes... Did you read the RV story? Yeah, the RV story was pretty interesting. There's some guy named Pete who owned an RV company. I forget what it's called. Frontier River or something like that. Some RV company, I guess this guy, Pete, reached out to Berkshire Hathaway and said, hey, buy me.

Yeah, my company's doing good, but I want to secure basically the financial safety of my wife and kids. And they met up with Warren Buffett. He said, okay, sure, we'll buy your little RV company. And Pete said, as long as I get to continue running the business. business. And Warren said, sure thing. And long story short, they just absolutely dominated the RV market until Pete died. He took a salary of 100K a year. But then he got, I think, 10% of profits or something. Yeah. Sorry, it had a little bit of a... And yeah, he goes on to describe how some... He wouldn't name businesses, but they've got like over 160 different businesses that they own either all or a part of. And was just saying that, yeah, some of them,

flop, but then they're more than outshown. That was the part I liked a lot. He opens with this kind of beautiful thing about how he's like, I and we make mistakes. And I want to be very upfront about that because not only do I engage with a lot of companies and people who don't want to recognize that, I've worked at places where, you know, it's like, we don't, we don't recognize that. We don't say that. We don't talk negatively.

Yeah, we don't even say mistake. It's like, I want to be honest. We, you know, we don't always get it right. And, you know, we learn from the mistakes. And that was kind of beautiful. He, uh, he seems like a nice guy. I think he cheated on his wife once, but... With birdie, so is it really cheating?

Yeah, it doesn't count if it's your sister. Plus, she's got a cane, so she's automatically less attractive. But, yeah, he talks about how GEICO and just the insurance industry in general is, man, I'm falling asleep just talking about this insurance shit. he loves insurance god damn it's fucking wouldn't you if it made you that rich yeah he made like 90 they made like 90 billion dollars just off of apple alone which is wild because i remember when they bought in

at all time at the time just a few years ago but it felt like warren you're buying the top yeah uh but then so yeah speaking of apple apple you know what what i saw tim cook this weekend in the flesh i was very close to where at freeze oh wow what was he doing he was dancing no he was looking at art probably wow look at that one prying a bunch of stuff it was so weird at first I spotted him and then we just kind of kept walking and then is he surrounded by bodyguards no not at all well maybe had it looked like friends maybe they weren't um you know doing the traditional bodyguard thing of wearing

the suits and stuff just looked like also if I'm a bill it's just what just this money is wasted on these tasteless guys it's just like just wearing like ath leisure and he wears, I was so close to him. I could see what his eyeglasses were, just like, just like Nike eyeglasses you would get from lens crafters or something. So you're saying that if you were, if you were, if I had money, I would at least look cool. I'd be wearing, yeah, like, I'd be dressing like zizi top. Fucking. That'd be fun, man. I'd be, I'd be riding around in like a 50s, a 50s, a 50s. No, I would look good is what I'm saying.

They look good. I'd be, yeah, pull up ZZ Top, man. I'd be right. You'd be the coolest billionaire, not like that dork who wears the Western shirts. This is cool. This is what, this is how you would dress. I'd be driving. If you had billions of dollars, you'd dress like, wearing those weird little hats and leather jackets and shit.

Holy shit. I'd be driving. This is how you'd dress. Yeah, I'd be. There were people dressed. Freeze, what a fucking freak show. Oh, yeah. My God, it was, uh, the people watching's insane.

What are those cars called? tricycles. No, no, hot routes. I'd be riding around in a hot rod. I really, this is the first time I've ever heard

what your idea of wealth is. Yeah, your idea of luxury and it's, I don't know why I thought anything different. You're just pulling up

in a jolopy hitting the horn and it's like, oh, yeah, I'd be driving one of those things. I mean, these guys told us every girl's crazy

about a sharp dress man and they're sharp dressed. I don't know. You know when these guys drive by. Would you have the beard? That's what I was going to say. I think he's just,

jealous of the beard. I'm not jealous of the beard. Those guys look like they stink. They just look like the absolutely... And that's what you want to look like. I feel bad for whoever's got to kiss those dirty mouths of theirs. Their beards probably have corn and chili stuck in them and their breasts smell like... Their breath smells like cigarettes.

But at least they looked good. It was crazy to be so close to him. Yeah. I was like, should I say something? Should I shoot him in the stomach? Hey, Tim. Yeah, no, but then... Security was not super tight either.

I could have gotten a gun in there. Oh, really? I remember thinking that years ago, I went to... I should have walked up and said, hey, Tim, I'm an Italian-American with back pain. You should have invited him on the show, dude. What are you thinking? Hey, I'm a young aspiring creator. And he's going to be like, oh, yeah, sure, yeah.

And we're big fans. Sure, yeah. Oh, man, my eyes itching so bad. But, yeah, I mean, I'm sure he was buying a lot of... I made a joke when we were walking in. Mm-hmm. about our budget, how much we could spend on the art. Because I don't know.

I didn't know how much. And I was like, I'm willing to part with $100,000 today. And we get in in the first gallery we were looking at, had some prices. And they were all around $975,000. And I was like, ah, okay, so these aren't. Give me a fucking break. I thought it was, I thought it was being hyperbolic going way too high. Yeah.

Yeah, that's pretty funny. I remember going to VidCon in, like, 2016. In Anaheim, and I remember being appalled. There was zero security. I just walked in there without any credentials, without anything. Nobody was checking for weapons. And I just thought, at this place, of all places, full of creators who have fanatical idiots going after them online,

man, this is the perfect place to kill someone, you know? Yeah, just goes to show you. can all be easily done. Yeah. Just don't come after us, folks. Yeah, you know what you don't hear about? Just in the final thoughts here? Apple Vision Pro.

Makes me want to get one. I bet you could get one for pennies on the dollar. They're practically giving these things away, man. I bet you could find some used ones. I don't want to buy use. That's disgusting. That's disgusting to me. Why would I want wearable tech that someone else is worn?

Sounds like shit to me. I mean, if it's half the price, know. But yeah, if you don't remember, these things launched at 3,500 bucks. We all forgot that it even existed. We really did. And I think even the people who were working on some of this stuff forgot it existed because it was, they had about 2,500 apps on the thing. Now they're down to, there's currently, currently 1900 apps. People are talking about how somehow they lost just 25% of the apps in six months. Yeah. They, according to a report from analyst Ming Chi Kuo, I've seen some of Ming Chi's work.

Apple originally set a first year sales target of 800,000 units for the Vision Pro but later slashed that number to 450,000. They are now scaling back production of the headset as of October and they are pressing pause on developing a next generation headset to instead focus on making a cheaper version of the Vision Pro. I'll tell you what, we all kind of made fun of Mark Zuckerberg

when he did that interview here. He was like, you know, I'm still going to bet on the at a quest and I think we've got a superior product and it's not as expensive and we're all like, yeah, right dude, that thing looks like so sick. Yeah. They're kind of nailing it. Yeah. I mean,

I kind of makes me want to buy one again. Their sales are growing. Another quest. Another quest. Did you have a quest or not? I had a quest. Oh, okay. Yeah. Fuck, man. I hope I didn't get poop in my eye. I hope this isn't the start of like a pink eye kind of situation. God damn.

well because you know Doug you know he's a dog you never know what he's walking in and then he touches me and then I touch my eye sure Apple's also doing a five I mean I don't know what the fuck to think of these pledges I think this is bullshit I think this is a I think they

already had plans to invest in America $500 billion dollars right there it's also weird if you look into it it's like some of it's talking about some of their Apple TV investments and stuff like that I think it's just, look, they're all going to kiss the ring with Donny Boy. They're all, they're all trying to get their own concessions. I'm sure they see the writing on the wall. I don't know if there's

any of them are trying to get like exemptions from tariffs and stuff like that. I don't know exactly what the plan is, but I don't think this was like, I don't think this was like some new plan they just dropped. I am kind of enjoying their new AI stuff on texts and emails. You are enjoying it? Kind of. Because they're accurate so far, somewhat. And they're kind of funny.

They make me go, oh, man, what's this going to be about? I turned it off after a day. Yeah. Because they're pledging, as part of their $500 billion pledge, they're also pledging 20,000 new AI-focused jobs. Did you see also that they are finalizing designs on a foldable phone? That I would like. A foldable phone?

Yeah. Yeah, that'd be pretty cool, I guess. China, of course, has us whipped on that. My friend sent me a video one that it looks just like a normal. It's an iPad. And then he folds it once and it's like a big phone. And then he folds it yet again. And it's just a regular phone size.

Do you think he can fold more than seven times? No, that's impossible. We already already know. Actually, no, that is because didn't MythBusters fold something like nine times or something? I don't know. Some shit like that. We'd have to check the tapes. Before we run out of time, I feel like we got to do a quick crypto update.

Oh God about that guy who killed himself. Well, first, there's obviously the big $1.4 billion hack in the crypto exchange buy bit. But yeah, we're running out of time. Someone stole, what was it, like $400,000 Ethereum netted $1.4 billion. Good for them. We are pulling for them. We hope they get away. I can't imagine what that must feel like.

The surge of adrenaline of having that much money in your possession that you've stolen but how do you go about laundering it and getting because everybody everything is on chain everybody can see you everybody can see exactly where you're sending it and what you're doing but then again I guess if you're smart enough and you're savvy enough to steal that much money in the first place you are also savvy enough to be able to disseminate those funds in a way that cannot be traced yeah I'm sure they can figure it out it's a pretty sophisticated attack yeah And then, oh, man, yeah, it's dark. Every, every sentence of this is like nothing I've ever heard before and is maybe the bleakest representation of what our economy has become.

I'm sure a lot of people have heard about the trader who killed himself. A crypto trader named Mr. Fuck You shot himself live on X after losing his last $500 in a mutual. meme coin rugpole telling viewers, if I die, make me a meme coin. Oh boy. Within minutes of his death, traders launched meme coins using his name leading to backlash over whether it's ethical to profit off suicide. What do you think, folks? Is it ethical?

Leading to questions about whether or not that's ethical. One of the questions we were all pondering. Leave it to the crypto community to make that a fucking thing. Before pulling the trigger, Mr. Fuck you loaded a revolver on stream and said, If I die, make me a meme coin. The gun misfired twice. on the third attempt it fired the lot

dude this is just I mean I just cannot believe the live stream which ran over 30 minutes after his death had him bleeding out while the crypto community reacted in real time as meme coins using his name blooded the market within minutes

Mr. Fuck You who also went by I'm really poor was 23 years old according to users on X and Reddick had posts on X show a bit of mental health struggles, and some in the community believed the suicide was also tied to a breakup

as he used to talk about his shorty, but suddenly stopped around two weeks. His shorty? It's in quotes. Oh, God, man. Minutes after he died, a token called the Mysticoyne appeared, with the developer sending him 70% of the total supply before his death.

So there's a bit of confusion, whether or not it was like a weird marketing stunt gone wrong where he was like doing this, you know, we all remember the classic pump fund. style shit. We were talking about where the guy's like, I'll shoot this puppy. Yeah, he'll shoot a, he'll shoot something every time he

every time it spikes. There was a guy who wouldn't get off the toilet until his meme coin. So it might have been something like that gone wrong or it could just be that we are living in the bleakest time. Yeah, I can't imagine anybody

doing this kind of thing in the 1800s. A guy buying at some fucking Dutch shipping company and standing on London Bridge going Everybody buy the stock or I'm going to joke I can't I can't picture it So

It's Just don't don't I mean it goes I feel like our audience is smart enough to obviously not Do anything like this But please don't do this Honestly just also stay away from all this fucking meme coin bullshit Yeah

Yeah We want to stay we want you to stay away from that as well. I think that this is, yeah, it's, it's, it's just not good. And it's sending kind of, what's wild is I haven't even heard that much about it. That's how bleak things are that there's this one guy doing it. It's like, yeah, what else is new? Well, and what is anyone going to do, right? I think it's like, you know, we were kind of getting at it. When we had Vlad on the show, I really wanted to talk about how they were like gamifying this thing and kind of turning it into a casino for people and getting people hooked.

And we've obviously done nothing to address that. And it's in just a few short years to see where we've come with the way people interact with stocks, crypto, all this shit. I mean, dude, the betting apps now, everything is exploded. We've just allowed people to get so crazy with basically little mini casinos on their phones and it's only going to get worse, worse. And then not only that, I mean, they just, I think Robin Hood had the, The SDC crypto charges, it's all obviously gone away.

They're not enforcing any of that stuff. Did you see that they're... So no one's going to... What's the point of like talking about this stuff and saying, like, won't someone do something? And they're like, no, obviously, we're not doing anything about that. I'm tired of seeing every viral video that I'll see on Twitter these days is somehow an ad for this gambling company called steak. St. A-K-E. Like almost every

Almost every one Because then it'll have the community note That says This is an ad for stake A gambling app Gambling app Ads are illegal on X And it's like

Okay so why is it up And they're like Well because we don't do that Because we don't do that Because that's gay Which we're probably getting rid of community notes Because sometimes they correct Elon Musk and he doesn't like that

Yeah He doesn't like being corrected Who among us doesn't I don't like being corrected Actually I don't mind I don't care As long as I'm As long as you're right and I'm wrong.

Just be right. That is one of the... When you get corrected by someone and they're just wrong. Oh, yeah. Nothing makes me want to ring someone's neck more. Yeah. Let's see. You better...

If you want to correct me, look it up on Google before you fucking... What nuts me, rival, is when people send me stuff where it's so obvious that I have already probably seen it. Like, my friend, God bless him. My friend just sent me the... the Southwest Plain thing. Brother, I've seen it. He just wants to connect with you.

He just wants to talk about it. Yeah, I guess, but like... Just let your friend connect with you. I guess, you're right, you're right, you're right. You're right, okay. Just let your friend connect. I'm like, brother, don't you think... Not everyone who sends you the thing has to...

It doesn't have to be the... That you haven't seen it yet. You're right, you're right. I love him to death too, so... Well, folks, let us know in the comments what you think. You like that. huh? I always like asking people that. So let's recap, shall we? Consumer sentiment in the toilet. Inflation, very still sticky, still resilient. Tariffs, pretty destructive. Going to cause some

issues. And earnings, not so hot, not a lot of follow-through, even on the positive ones. And also, NVIDIA remains to be seen whether or not that's going to be a big load of poop as well. also our economy is mostly made up of rich consumers buying stuff we are a service economy and if they get if they get spooked yeah it's not good that top 10% accounting for 50% of all spending they get spooked and they're shopping at walmart now that's not good you see some mercedes benzes oh who am i kidding anybody can afford a Mercedes these days in the parking lot at walmart then you know shit it's about to get popin it's about to pop it's about to pop but we'll still be here. We'll still hold your hand through all of this. We'll keep drinking that garbage. We'll keep drinking that garbage. Yeah,

let us know in the comments how you feel what your consumer sentiment index is at. Yeah, we would like to know where your sentiment is at. Mine's at about a 70 out of 100. That's not bad. Yeah, that's a C. That's passing. I would say I'm at a 50.

Yeah? Okay, that's not good. That's a fail. My sentiment's not great. I should have called my mom for this because she's a consumer. But I do want to say that a lot of that is tied up in the Hooters thing. Yeah.

Yeah, I find it interesting that none of the Hooters in Arizona are failing. That's what they specifically pointed out. None of them in Arizona. They're all succeeding. Is that where the goon aside was? I think so. Yeah, there's something going on in Arizona. I forgot about that.

Oh, man, dude. Oh, God, gooning. I don't understand the pride that some of these guys have around it. Well, they've got nothing left, right? There's, uh, the economy's fucked. There's no good jobs left. Uh, it's really just doing, you know, pranks online and, uh, men are more denigrated every day and, um, jerking off with your buddies. There's no, there's no women to sleep with.

So it's, uh, you got to, look, we all have needs. You got to pleasure yourself somehow. you might as well take it to the fucking max. You might as well max out while jacking off. I just don't understand the appeal of doing it with your buddies. You're jerking off to straight porn with your buddies. You don't have to go- As soon as you come, wouldn't you be just like,

ah! Ah! No. Get out of it. Oh my God. What are we doing? Also, with gooning, there's not so much coming. It's really about the journey with gooning.

Sure, but eventually you're going to nut. And then you're going to be, oh, Jesus. I hate talking about this stuff. hate saying these words. I don't like hearing them come out of my mouth. I feel the shame in the wrath of God. I feel the shame in the wrath of God. We're going to leave you guys. We're going to see you in the bonus. That's Ben &amilshow.com. We're talking about some, uh, we're talking about some internet things. It's going to be cool. It's going to be really cool. We'll see you there, folks. Coming up on this week's episode of Ben and Emile Show.com. The great, the great chilly

debate. Beans are no beans. Beans. It adds a little kick to it's fun. It's a nice old thing. Honestly, otherwise it's too much meat. I'm eating fully bean chili because I'm making vegetarian chili. Well, of course, we all know that. That is considered woke. And you can come to my house and call me gay. Some of it does make you laugh, though. Cocky Wamp Boing Boing, that was really killing all of us.

Is it Baldi Wamp Boing Boing Boat or Cocky? It's like, it's a picture of him at the beach. What is his end goal? I want to talk to him. Right, that's what I want to know about all this stuff. And it makes me feel so fucking old. Do you think one of us has a stronger boner than the other? While we sleep?

No, no, no. Oh, are they only sleeping boners? Yeah, because that's what he was measuring with his son, is sleeping boners. I've got a powerful boner. A powerful sleeping boner? Both. How do you know? Because I just know.

I just would never know what I'm holding it up against.