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Financial Issues - 2026 10 20 Financial Issues · KNEO Podcast

• 0:03
  Speaker 1: Welcome to Financial Issues, where we help you steward faithfully
• 0:07
  Speaker 1: by honoring God with your investments. Now listen in as
• 0:11
  Speaker 1: we give you the practical tools and advice you need
• 0:14
  Speaker 1: to become a biblically responsible investor.
• 0:22
  Speaker 2: This is Financial Issues, where we help you defund darkness
• 0:25
  Speaker 2: and fund the light by investing with biblical integrity. I'm
• 0:28
  Speaker 2: Seth Udinski, Sam Case over in the control room, and
• 0:30
  Speaker 2: your host, the man, the myth, the Mark, Mark Manilla. Mark,
• 0:35
  Speaker 2: good to be here with you, brother.
• 0:36
  Speaker 3: It's only Tuesday.
• 0:37
  Speaker 2: It's only Tuesday. You got to put up with this
• 0:39
  Speaker 2: for a lot longer.
• 0:41
  Speaker 3: For the rest of the week. It's wonderful. It's great
• 0:45
  Speaker 3: having you back, Seth.
• 0:46
  Speaker 2: Thanks, brother. Great to be here back in the saddle. Hey,
• 0:48
  Speaker 2: the phone number, folks, is 610-363-1110. Hope you'll give us
• 0:52
  Speaker 2: a call. Listen, the phone lines are wide open, and
• 0:54
  Speaker 2: we would love for you to fill them. Join the
• 0:56
  Speaker 2: live broadcast. Again, 610-363-1110. On today's show, we've got political
• 1:01
  Speaker 2: analyst Chris Salcedo is going to join us shortly. Looking
• 1:04
  Speaker 2: forward to that interview there, Mark. Good stuff. But why
• 1:06
  Speaker 2: don't we get things kicked off rightly with our scripture
• 1:09
  Speaker 2: passage of the week. Sam, you want to read that
• 1:11
  Speaker 2: for us? Luke 16, 11. Luke 16, 11. So if
• 1:15
  Speaker 2: you've not been trustworthy in handling worldly wealth, who will
• 1:18
  Speaker 2: trust you with true riches?
• 1:22
  Speaker 3: Interesting verse. Yesterday we dug into the term worldly wealth
• 1:27
  Speaker 3: or mammon or the different Terms that are used in
• 1:32
  Speaker 3: the different translations. You know, what I'd like to do
• 1:35
  Speaker 3: today is ask you guys a question. What do you
• 1:37
  Speaker 3: think he means by trustworthy? So if you have not
• 1:41
  Speaker 3: been trustworthy in handling worldly wealth, what do you think
• 1:44
  Speaker 3: he means trustworthy? Does he think is he just going
• 1:48
  Speaker 3: with the typical? Yeah. You've been a thief in handling
• 1:52
  Speaker 3: worldly wealth, or is it something else?
• 1:54
  Speaker 4: Which is funny, because in the parable that he tells
• 1:56
  Speaker 4: prior to this, it is about a thief. But I
• 1:58
  Speaker 4: think what he's saying is that you're taking seriously and
• 2:03
  Speaker 4: acting wisely with the things that you've been given, right?
• 2:06
  Speaker 2: Yeah, I would agree with what Sam said, Mark. I
• 2:08
  Speaker 2: think when I see that word trustworthy, and then Jesus
• 2:11
  Speaker 2: says it again, who will trust you with true riches,
• 2:13
  Speaker 2: the concept that comes to mind is true stewardship, is
• 2:16
  Speaker 2: that we're good stewards with what God has entrusted to us.
• 2:20
  Speaker 2: So he trusts us to be able to be good
• 2:22
  Speaker 2: stewards with it. Now, in our own selves and in
• 2:25
  Speaker 2: our own strength, we can't be trustworthy with it. But
• 2:30
  Speaker 2: in Christ, in the gospel, we truly can be. It's
• 2:34
  Speaker 2: a sweet verse.
• 2:35
  Speaker 4: Well, I think when I was a little kid, my
• 2:36
  Speaker 4: dad would give me a cheap little toy, and if
• 2:39
  Speaker 4: I broke it, he's like, why would I ever give
• 2:41
  Speaker 4: you something more expensive if you're just going to not treat.
• 2:45
  Speaker 2: Even the cheap things well? I think you were set up, Sam.
• 2:48
  Speaker 2: You're untrustworthy with these things. But that's what we're talking about.
• 2:51
  Speaker 4: Like, The things that we're given in this life that
• 2:53
  Speaker 4: God trusts us to steward with, it's kind of, as
• 2:56
  Speaker 4: we said, that spiritual boot camp. It's preparing us for
• 2:59
  Speaker 4: the true glory, the true things we're going to be
• 3:02
  Speaker 4: responsible with in heaven. This is just the trial period.
• 3:06
  Speaker 2: It's the practice.
• 3:07
  Speaker 3: So not taking it flippantly. You know, there are some
• 3:10
  Speaker 3: people who go through life, and even as believers, and
• 3:13
  Speaker 3: they don't respect or they don't look at what God
• 3:18
  Speaker 3: has entrusted with, to them and take it serious. They're
• 3:23
  Speaker 3: just flipping about. It's like, whatever, you know.
• 3:25
  Speaker 4: I'm going to heaven someday. It's kind of Gnostic almost, saying, well,
• 3:28
  Speaker 4: this doesn't really matter. I'm going to escape into heaven someday,
• 3:31
  Speaker 4: so it doesn't matter what I do here. When God's saying, no,
• 3:34
  Speaker 4: I'm trusting you with this.
• 3:36
  Speaker 5: Yeah.
• 3:37
  Speaker 3: So I guess it means... taking it seriously, learning from
• 3:41
  Speaker 3: it all you can, and doing the best you can,
• 3:44
  Speaker 3: as we say here, doing the best you can as
• 3:46
  Speaker 3: often as you can to the glory of God. And
• 3:49
  Speaker 3: if you do it that way, then maybe he sees
• 3:52
  Speaker 3: you as trustworthy, as taking it serious, not flippantly. And therefore,
• 3:57
  Speaker 3: when we do receive our eternal bodies and they're there
• 4:03
  Speaker 3: in the new heaven on earth, we'll have the opportunity
• 4:08
  Speaker 3: to serve in a way that he allows us to
• 4:11
  Speaker 3: and trusts us with the riches of eternity there. Instead of,
• 4:16
  Speaker 3: you know, I guess it all comes down to How
• 4:20
  Speaker 3: serious do you take it? Do you think this trustworthiness
• 4:23
  Speaker 3: question helps us to understand the whole concept of do
• 4:27
  Speaker 3: we really believe? You know, as we talk about stewardship
• 4:31
  Speaker 3: is realizing the truth of our salvation. Do we really
• 4:36
  Speaker 3: believe all this is true? And if we do, wouldn't
• 4:39
  Speaker 3: we be trustworthy? Wouldn't we take this serious and not flippantly?
• 4:44
  Speaker 2: Do we act like we believe?
• 4:46
  Speaker 3: Exactly.
• 4:47
  Speaker 4: And of course we'll fail because Paul says, I do
• 4:49
  Speaker 4: the things I don't want to do. I don't do
• 4:51
  Speaker 4: the things I want to do. But still, there's an
• 4:54
  Speaker 4: effort there. And this is the process, right? This is
• 4:57
  Speaker 4: the sanctifying process.
• 4:59
  Speaker 2: You know, guys, one of the sweet doctrines of the
• 5:03
  Speaker 2: assurance of our salvation comes from asking yourself the question,
• 5:07
  Speaker 2: what do you desire? Because I know so many Christians,
• 5:10
  Speaker 2: and I've even felt this too, Mark, where I've felt
• 5:13
  Speaker 2: almost anguish in my soul to think, you know, am
• 5:15
  Speaker 2: I really saved? I keep struggling with the same sin
• 5:18
  Speaker 2: over and over again. But the question of what do
• 5:19
  Speaker 2: you desire? And I can answer honestly, yes, I desire
• 5:22
  Speaker 2: to honor God. I'm not perfect. I'm far from it.
• 5:25
  Speaker 2: But I do desire to bring him glory with what
• 5:28
  Speaker 2: he's entrusted me with.
• 5:29
  Speaker 4: And is an unsaved person even going to be wrestling
• 5:32
  Speaker 4: with these things? Is it in 1 John where he
• 5:34
  Speaker 4: says that if our hearts trouble us, fear not? because
• 5:37
  Speaker 4: he's greater than our hearts.
• 5:38
  Speaker 2: Yeah, there you go.
• 5:40
  Speaker 3: And it comes down to, well, if we say we've
• 5:42
  Speaker 3: got to be trustworthy, oh, no, we need to worry
• 5:43
  Speaker 3: about this continuously and make it a big deal.
• 5:46
  Speaker 2: I've got to be better.
• 5:47
  Speaker 3: I've got to be better, Mark. Guess what? Sam, Seth,
• 5:51
  Speaker 3: and Mark, we can't do this. Like you said earlier, Seth,
• 5:55
  Speaker 3: it's God's power. It's his strength. It's his wisdom that
• 6:00
  Speaker 3: allows us to be trustworthy. of what God entrusts to us.
• 6:08
  Speaker 3: It isn't on our own self. It's what he brings
• 6:12
  Speaker 3: into us when we accept Jesus Christ as our Savior,
• 6:15
  Speaker 3: what he gives us, those gifts, those abilities. It's all
• 6:19
  Speaker 3: about God.
• 6:20
  Speaker 2: Help me to be trustworthy, Lord.
• 6:22
  Speaker 3: And we can count it all joy. That's the part
• 6:27
  Speaker 3: that I think we miss. We don't need to worry
• 6:30
  Speaker 3: about it, but what we do need to do is,
• 6:33
  Speaker 3: is utilize those gifts, those abilities he's given us to
• 6:38
  Speaker 3: realize the fullness of our relationship with Christ and therefore
• 6:42
  Speaker 3: the fullness of the joy in God.
• 6:44
  Speaker 2: Yeah, well said. You know, folks, maybe you were listening
• 6:48
  Speaker 2: on your commute to work today or you're listening at
• 6:50
  Speaker 2: home or something like that, and you needed to be
• 6:52
  Speaker 2: reminded of God's great love for you. This is a
• 6:56
  Speaker 2: great verse to remind yourself of that. It's a challenge
• 6:58
  Speaker 2: from our Lord, but it's also one to remind us
• 7:01
  Speaker 2: That God loves us and he will trust us with
• 7:04
  Speaker 2: these things. I mean, the promise here is that if
• 7:06
  Speaker 2: we're faithful, he'll trust us with more. It's a wonderful promise.
• 7:09
  Speaker 2: Hope that can encourage you.
• 7:12
  Speaker 3: 610-363-1110.
• 7:12
  Speaker 2: Hey, Mark, how about a question to kick off our show?
• 7:14
  Speaker 2: And a juicy one, rather, at that. So Bert is
• 7:18
  Speaker 2: 63 years old. And it's not a question as much
• 7:20
  Speaker 2: as it is almost a little bit of a challenge.
• 7:22
  Speaker 2: He says, Mr. Mark, Mark, Mark. Three Marks. I was
• 7:25
  Speaker 2: listening to the Overtime Show last week on the topic
• 7:27
  Speaker 2: of life insurance, and I felt like I was kicked
• 7:29
  Speaker 2: in the gut by one of your thrust kicks. Mark,
• 7:31
  Speaker 2: I know that you have some skills in martial arts.
• 7:35
  Speaker 2: He says, I'm disappointed knowing that you actually sold that
• 7:38
  Speaker 2: whole life slash cash value stuff. Maybe in legacy planning,
• 7:41
  Speaker 2: if you would rather give slash waste money with the
• 7:44
  Speaker 2: insurance company than your heirs paying taxes. In your scenario
• 7:47
  Speaker 2: with the stay at home mom with three under five,
• 7:49
  Speaker 2: dad gets a dad better get term insurance. Mark, did
• 7:54
  Speaker 2: you say those things? I mean, I wasn't here on Friday.
• 7:56
  Speaker 2: So now, Mark, go ahead and respond.
• 7:58
  Speaker 4: Mark, you have been found guilty of a faulty life
• 8:01
  Speaker 4: insurance stand.
• 8:02
  Speaker 2: How do you plead before the court?
• 8:05
  Speaker 3: Oh, Bert, Bert, Bert. First of all, that's really not
• 8:11
  Speaker 3: what I said. We were talking, I think it was
• 8:13
  Speaker 3: Justin who mentioned something about not wanting to spend or
• 8:18
  Speaker 3: didn't want to pay the premiums. No, what he said,
• 8:21
  Speaker 3: I think what Justin said.
• 8:22
  Speaker 2: He said he could do better in the stock market
• 8:24
  Speaker 2: than paying the premiums.
• 8:25
  Speaker 3: With the premiums, right. And I took that as he
• 8:27
  Speaker 3: didn't have any life insurance. He had a spouse and children.
• 8:31
  Speaker 3: And so I brought up how important it is that
• 8:35
  Speaker 3: any day your life could be taken. So who's going
• 8:38
  Speaker 3: to care for your children? Who's going to care for
• 8:41
  Speaker 3: your spouse? And if God has given us the ability
• 8:44
  Speaker 3: to take care of that through life insurance, you should
• 8:47
  Speaker 3: do so. I don't believe I told them to buy
• 8:49
  Speaker 3: whole life or term or anything. We just discussed that. And, uh,
• 8:54
  Speaker 3: And I think he understood that, Bert. When it comes
• 8:57
  Speaker 3: to different types of life insurance, I spent many, many years,
• 9:00
  Speaker 3: by the way, in estate planning, taking apart insurance policies
• 9:04
  Speaker 3: and putting them back together. And what I found was
• 9:07
  Speaker 3: there are literally all I mean, there are so many
• 9:12
  Speaker 3: different types of insurance. Did you know that term life
• 9:15
  Speaker 3: insurance is a type of cash value insurance as well?
• 9:19
  Speaker 3: If you take a 10-year or 20-year term out, you
• 9:21
  Speaker 3: know the premium is more than what a one-year term
• 9:24
  Speaker 3: would be for that year that you take it out.
• 9:27
  Speaker 3: You know why? Because they have to actuarially figure out
• 9:30
  Speaker 3: what it's going to cost them with all the millions
• 9:33
  Speaker 3: of people who are going to take this policy out,
• 9:35
  Speaker 3: what they need to cover, the policies that are going
• 9:37
  Speaker 3: to have to go into effect. And so they charge
• 9:40
  Speaker 3: you more and they level it out over the 10 years.
• 9:43
  Speaker 3: They take in more than is needed for the death
• 9:46
  Speaker 3: benefit at that point. And what they do is they
• 9:50
  Speaker 3: keep that invested. You never get to touch it. So
• 9:54
  Speaker 3: when you talk about term insurance, there's pure term, which
• 9:57
  Speaker 3: is you're just paying for the one year, nothing more.
• 10:00
  Speaker 3: nothing less. And then you go all the way to
• 10:04
  Speaker 3: the other end where you have high premium cash value policies,
• 10:09
  Speaker 3: and they just tell you that they're actually charging you
• 10:11
  Speaker 3: more up front so they can cover your whole life.
• 10:14
  Speaker 3: So effectively, a whole life policy is a long-term policy.
• 10:20
  Speaker 3: If you take it apart and actually it comes down
• 10:23
  Speaker 3: to different products for different situation. Term insurance is for
• 10:27
  Speaker 3: a certain amount of term. Whole life insurance is if
• 10:31
  Speaker 3: you want to make sure you're covered over your whole
• 10:34
  Speaker 3: life and it's there when you need it. And effectively,
• 10:37
  Speaker 3: it can even be cheaper than term insurance if you
• 10:39
  Speaker 3: live a long life. So there's different types of products
• 10:42
  Speaker 3: for different things. Sorry that was confusing. I wasn't saying
• 10:46
  Speaker 3: one thing or another outside of 610-363-1110. Give me a call.
• 10:49
  Speaker 3: We can talk about this. Thank you.
• 11:08
  Speaker 2: Hey, great to be here with you folks.
• 11:09
  Speaker 3: 610-363-1110.
• 11:10
  Speaker 2: If you want to chime in on Bert's question or
• 11:13
  Speaker 2: if Bert's out there listening and wants to chime in again, boy,
• 11:15
  Speaker 2: we would certainly love to hear from you or anyone
• 11:18
  Speaker 2: listening out there. Give us a call. Join the live broadcast.
• 11:20
  Speaker 4: 610-363-1110.
• 11:20
  Speaker 2: If your name is Ernie, you get extra points if
• 11:24
  Speaker 2: you call in. Nice, Sam. Love that. Rubber ducky, you're the.
• 11:27
  Speaker 3: Anyway.
• 11:27
  Speaker 6: 610-363-1110.
• 11:28
  Speaker 2: Today's show brought to you in part by Preborn, preborn.com
• 11:32
  Speaker 2: slash FISM. We love the work that Preborn does, saving babies,
• 11:36
  Speaker 2: spreading the gospel. You can also call them at, say,
• 11:39
  Speaker 2: dial pound 250 and say that keyword, baby. So the
• 11:42
  Speaker 2: markets yesterday turned things around, I think, after a pretty
• 11:46
  Speaker 2: rough week, Mark. I was pleased yesterday. The NASDAQ was
• 11:50
  Speaker 2: up well, finished over a full percent. S & P
• 11:52
  Speaker 2: 500 up almost a half percent. The Dow Jones was,
• 11:55
  Speaker 2: you know, basically flat, but... The Dow Jones is going
• 11:57
  Speaker 2: to Dow Jones. That's kind of how that goes. The
• 12:00
  Speaker 2: Russell 2000 was up slightly as well, about a quarter percent.
• 12:04
  Speaker 2: Pre-markets this morning are a little bit mixed. The Dow
• 12:07
  Speaker 2: Jones is actually in the green. S & P is
• 12:09
  Speaker 2: kind of flat too in the red, and the NASDAQ
• 12:11
  Speaker 2: is down about a third of a percent. Oil's up though, Mark.
• 12:14
  Speaker 2: So I guess technically I should be sad, but I'm
• 12:16
  Speaker 2: not sad because we're on the show. What do I
• 12:18
  Speaker 2: have to be sad about? It's great.
• 12:20
  Speaker 3: Yeah, no, it's a choppy markets. Who would have guessed
• 12:25
  Speaker 3: during a time of election period and end of the
• 12:29
  Speaker 3: year where portfolio managers are rearranging their portfolios, dressing them
• 12:34
  Speaker 3: up for the end of year reporting. Who would have
• 12:36
  Speaker 3: guessed that the markets would have been choppy? Oh, I know,
• 12:39
  Speaker 3: financial issues. Oh, right.
• 12:40
  Speaker 2: We've only been saying that for so long.
• 12:41
  Speaker 3: That's right.
• 12:42
  Speaker 2: There you go. We don't predict the future, but sometimes
• 12:45
  Speaker 2: we're still right anyway. That's right.
• 12:47
  Speaker 3: Well, you know, saying choppy markets is kind of like
• 12:50
  Speaker 3: saying wavy ocean or something like that.
• 12:53
  Speaker 2: It's broad enough that you're probably right. People say, well,
• 12:56
  Speaker 2: it's going to be hot in the summer. You didn't
• 12:58
  Speaker 2: say hot. How hot?
• 12:59
  Speaker 3: There's a chance that we're going to get up to
• 13:01
  Speaker 3: the 90s in Missouri.
• 13:03
  Speaker 1: Exactly.
• 13:04
  Speaker 2: Well, you know, guys, oil is up. I'm seeing West
• 13:06
  Speaker 2: Texas Intermediate is up around, I think, $ 105 a barrel,
• 13:10
  Speaker 2: if I'm seeing that correctly. And Brent Crude Oil is
• 13:11
  Speaker 2: up around $ 110. Sam, we do have a little bit
• 13:15
  Speaker 2: of an energy roundup here to get to. Why don't
• 13:17
  Speaker 2: we saddle our horses, yee-haw, and do a little roundup here,
• 13:20
  Speaker 2: shall we?
• 13:20
  Speaker 4: Go Beverly Hillbillies, look for the black gold. Texas tea.
• 13:24
  Speaker 4: Texas tea, that's right. That's the one I was looking for.
• 13:27
  Speaker 4: So yeah, this is Donald Trump trying some different things
• 13:30
  Speaker 4: to put Democrats to bed with their annoying, what is
• 13:33
  Speaker 4: Donald Trump doing about energy prices? Well, quite a bit, actually,
• 13:37
  Speaker 4: beyond trying to settle out the war in the Middle East.
• 13:40
  Speaker 4: President Trump recently announcing new moves to an executive order
• 13:43
  Speaker 4: to provide up to $ 42 million in federal funding to
• 13:47
  Speaker 4: revive a long-delayed Constitution pipeline carrying natural gas from Pennsylvania
• 13:52
  Speaker 4: to New York and the Northeast. The Department of Energy
• 13:56
  Speaker 4: said— Sam, is this the same pipeline as the Keystone pipeline,
• 13:58
  Speaker 4: or is this a different one?
• 13:59
  Speaker 2: This is a different one. Constitution pipeline.
• 14:01
  Speaker 4: So the Department of Energy said on Monday that funding
• 14:04
  Speaker 4: will support permitting and pre-construction work under the Defense Production Act.
• 14:08
  Speaker 2: So this is just getting the ball rolling.
• 14:10
  Speaker 4: And of course, it's going to be heavily dependent on
• 14:12
  Speaker 4: who wins the midterm election. So if the Democrats end
• 14:16
  Speaker 4: this thing, it's going to be on them, not on
• 14:18
  Speaker 4: Donald Trump. Meanwhile, Trump says he's also announcing a massive oil, gas,
• 14:23
  Speaker 4: and mineral exploration to begin in Greenland.
• 14:26
  Speaker 2: The U.S.
• 14:26
  Speaker 4: Estimates that Greenland's underground offshore basins contain 31 billion.
• 14:31
  Speaker 2: Barrels of oil.
• 14:33
  Speaker 4: And perhaps most controversially, Trump has temporarily lifted some sanctions
• 14:37
  Speaker 4: on Russia in order to release more diesel into the economy.
• 14:41
  Speaker 4: These are newer sanctions, though, not the ones that have
• 14:44
  Speaker 4: been placed on the Russians since the beginning of the
• 14:46
  Speaker 4: war in Ukraine.
• 14:48
  Speaker 3: Yeah, but what has he done recently, Sam?
• 14:51
  Speaker 2: Yeah, you know, who's to say? He's just kind of lazy,
• 14:53
  Speaker 2: isn't he?
• 14:54
  Speaker 3: Yeah. Yeah, and the only president we have that never sleeps.
• 14:58
  Speaker 3: Just amazing to me what's going on. And you know
• 15:03
  Speaker 3: what's even more amazing to me? That the price of
• 15:05
  Speaker 3: gasoline and diesel is still where it's at. When I
• 15:08
  Speaker 3: look back at the history of peak oil and I
• 15:11
  Speaker 3: find that– Under most peak oil circumstances, it never rose
• 15:16
  Speaker 3: as high. Very seldom did it, except in Biden years
• 15:20
  Speaker 3: and whatnot. But, you know, it just seems like how
• 15:24
  Speaker 3: could gas be so expensive? What else is out there? Well,
• 15:28
  Speaker 3: we found out that refineries... We have less refineries today
• 15:31
  Speaker 3: than we did 10 years ago to make it into
• 15:34
  Speaker 3: gasoline and diesel. We had three refineries closed down in
• 15:39
  Speaker 3: California alone, which restricts the amount of diesel and gasoline
• 15:44
  Speaker 3: that is out there. So hopefully with the new refinery
• 15:49
  Speaker 3: being built, I think they're now getting just past the
• 15:53
  Speaker 3: permitting stage and they'll get that up soon. It'll happen.
• 15:56
  Speaker 3: I know we live in a world where we want
• 15:58
  Speaker 3: everything today. But we can't have everything today. We have
• 16:02
  Speaker 3: to be more intelligent than that. If we live in
• 16:06
  Speaker 3: the same world that the people who make up fake
• 16:09
  Speaker 3: signs and go out in the street and burn cars,
• 16:12
  Speaker 3: you know, instantaneous, I want this today, I want it
• 16:15
  Speaker 3: my way, then this world will never work. We have
• 16:18
  Speaker 3: to be more intelligent than those people. We have to
• 16:21
  Speaker 3: be the people who see that foundations are being laid,
• 16:24
  Speaker 3: things are happening, and we want to vote in the
• 16:27
  Speaker 3: right people to make this continue. Otherwise, we'll fall into
• 16:30
  Speaker 3: anarchy continuously.
• 16:32
  Speaker 4: We have to live past the headline of today and tomorrow,
• 16:36
  Speaker 4: and the news media almost won't let us. I cannot imagine.
• 16:40
  Speaker 4: living back in the World War II era with this
• 16:44
  Speaker 4: kind of media because they would never let us actually
• 16:47
  Speaker 4: fight the war. Every day would be a negative article saying,
• 16:50
  Speaker 4: when's this thing going to end?
• 16:52
  Speaker 2: This is terrible.
• 16:53
  Speaker 4: You could imagine FDR saying, we have nothing to fear
• 16:55
  Speaker 4: but fear itself, and the media going, that's not true.
• 16:58
  Speaker 2: Be afraid.
• 17:00
  Speaker 3: Yeah, right. Well said, Sam. Well said. Yeah, but there
• 17:06
  Speaker 3: is a lot going on here. And there is a
• 17:09
  Speaker 3: lot of exploration, not only in Greenland, but also in
• 17:12
  Speaker 3: the United States and all around the world. Things are
• 17:15
  Speaker 3: coming together, folks. You just have to open your eyes
• 17:19
  Speaker 3: and go deeper than what you're being told in the
• 17:21
  Speaker 3: mainstream media. You know, somebody recently mentioned to me, you
• 17:26
  Speaker 3: use artificial intelligence. Didn't you know that was trained on
• 17:29
  Speaker 3: the internet, which is 90%, 90-some percent leans left and
• 17:34
  Speaker 3: and misinformation about so much. I said, yeah, I know that.
• 17:38
  Speaker 3: That's why we have to train our own AI agent.
• 17:40
  Speaker 3: But yeah, it's true. The media is giving us false information,
• 17:46
  Speaker 3: and it's just crazy what's going on. If the media
• 17:50
  Speaker 3: was true, they'd talk about these things, but then people
• 17:54
  Speaker 3: wouldn't have to come out to financial issues. They'd get
• 17:57
  Speaker 3: the truth.
• 17:58
  Speaker 2: There you go. There you go. Capitalizing on a crisis.
• 18:01
  Speaker 2: That's what we do. We're Machiavellians. 610-363-1110. Give us a call, folks. Hey,
• 18:07
  Speaker 2: just a reminder, in about five minutes or so, Chris Salcedo,
• 18:11
  Speaker 2: political analyst, talk show host, joining us on the program.
• 18:14
  Speaker 2: Looking forward to that. Mark, a question here from George
• 18:16
  Speaker 2: in our chat saying, Mark, Valero is reporting earnings later
• 18:20
  Speaker 2: this week. Things are looking good. Forward PE looks good too.
• 18:24
  Speaker 2: If earnings are good, are you all thinking of putting
• 18:26
  Speaker 2: Valero back on the buy list? It's a hold right now, Mark.
• 18:30
  Speaker 3: George, you're right. Valero is doing very well. Refining margins
• 18:34
  Speaker 3: are just incredibly strong. Profitability has improved. The balance sheet
• 18:40
  Speaker 3: remains manageable. Even the forward PE is starting to look
• 18:43
  Speaker 3: attractive after the pull. But here's a concern. The stock
• 18:47
  Speaker 3: has already appreciated significantly and is trading near its 52-week high. See,
• 18:52
  Speaker 3: we have to be careful. We don't want to recommend
• 18:54
  Speaker 3: people get in at the peak and then have to
• 18:57
  Speaker 3: wait another six months for some rocky roads or a year.
• 19:01
  Speaker 3: as it goes through that before it starts heading up again.
• 19:04
  Speaker 3: So we're going to be very careful about it, but yeah,
• 19:06
  Speaker 3: October 22nd. And when Valero reports, we're going to take
• 19:11
  Speaker 3: a look at it and be serious about it. And
• 19:15
  Speaker 3: who knows by then, you know, it's, it's only two days,
• 19:19
  Speaker 3: but by then Valero may give all the indications that
• 19:24
  Speaker 3: now's a good time. But right now for now, For now. Today, Tuesday,
• 19:30
  Speaker 3: October 20th. We have to be very succinct. Otherwise, somebody
• 19:35
  Speaker 3: will say I'm putting it on hold or buy or something.
• 19:38
  Speaker 3: But today it's on a hold. And we're going to
• 19:40
  Speaker 3: re-review it after we get the information from the earnings
• 19:44
  Speaker 3: report that comes out. So let's talk a little bit
• 19:48
  Speaker 3: about what hold means here, George. Hold means if you
• 19:51
  Speaker 3: already have it, there's nothing wrong with it at this point.
• 19:55
  Speaker 3: But it just means we don't want new people who
• 19:58
  Speaker 3: are starting to put their portfolios together to come in
• 20:00
  Speaker 3: and say, well, they're saying Valero is a buy at
• 20:03
  Speaker 3: this point. So I'm going to buy into it and
• 20:05
  Speaker 3: then have slow money for a couple of years unnecessarily.
• 20:09
  Speaker 3: That's all we're saying. If you like Valero and it's
• 20:12
  Speaker 3: not overweighted in your portfolio, if maybe this pullback actually
• 20:16
  Speaker 3: pulled it down below what you believe is the right allocation,
• 20:20
  Speaker 3: you could add a little bit more to it. We
• 20:22
  Speaker 3: just don't suggest that at this point because we believe
• 20:25
  Speaker 3: at this point you're buying in at a price that
• 20:27
  Speaker 3: maybe is just too rich at this point.
• 20:32
  Speaker 2: Very good stuff. Speaking of which, folks, Mark, I'm glad
• 20:34
  Speaker 2: you mentioned that because we did just put out a
• 20:36
  Speaker 2: partner commentary, and there is also a move to hold
• 20:41
  Speaker 2: on one of those as well. We also have a
• 20:43
  Speaker 2: downgrade from hold to sell too, so hopefully partners are
• 20:45
  Speaker 2: going to check that out. Mark, I do find that
• 20:47
  Speaker 2: our holds can be interesting, and I'm grateful for the
• 20:51
  Speaker 2: explanation that you give because sometimes a hold goes to
• 20:54
  Speaker 2: a hold because of weakness, but sometimes it also goes
• 20:56
  Speaker 2: to a hold because The stock has gone up so
• 20:58
  Speaker 2: much and the valuation is too high.
• 20:59
  Speaker 6: Exactly.
• 21:00
  Speaker 3: And it just wouldn't be right to tell a new
• 21:04
  Speaker 3: investor or somebody coming to financial issues and wanting to
• 21:08
  Speaker 3: rearrange their portfolio.
• 21:09
  Speaker 2: Here's a good buy.
• 21:10
  Speaker 3: And it really isn't a good buy. There's two parts
• 21:13
  Speaker 3: to that, a strong company and a strong potential. Well,
• 21:17
  Speaker 3: the potential may be strong in the very long term,
• 21:21
  Speaker 3: but in the midterm, it may not be so strong.
• 21:24
  Speaker 3: So we put it on a hold and say, let's
• 21:26
  Speaker 3: wait right now so that we can get past some
• 21:31
  Speaker 3: of the valuation that went through the ceiling due to
• 21:35
  Speaker 3: crisis or international politics or sensationalism or anything like that.
• 21:41
  Speaker 3: So we want it to be fair for everybody if
• 21:44
  Speaker 3: you already hold it. And by the way, remember, This
• 21:47
  Speaker 3: is your portfolio. This is between you and the Lord.
• 21:50
  Speaker 3: We're given our opinion on it. You take that opinion
• 21:53
  Speaker 3: and do what you want with it. If you believe
• 21:56
  Speaker 3: that this is an incredible stock, even at this price,
• 21:59
  Speaker 3: and you see that There's great potential short, mid, and
• 22:04
  Speaker 3: long-term on it. Go for it. I'm not going to
• 22:06
  Speaker 3: get upset with you. I'm not even going to laugh
• 22:09
  Speaker 3: if you're wrong any more than you'd laugh at me
• 22:11
  Speaker 3: if I was wrong. The whole idea is God has
• 22:15
  Speaker 3: a path for you. You need to lean on that.
• 22:18
  Speaker 3: It's between you and God. We're just here as hopefully
• 22:21
  Speaker 3: faithful and wise advisors to you to help you make
• 22:24
  Speaker 3: the most of what God has entrusted to you, to
• 22:27
  Speaker 3: be trustworthy, as we said at the beginning of the
• 22:31
  Speaker 3: At the beginning of the show here. And as we
• 22:35
  Speaker 3: discuss the verse that this week's verse. So the whole
• 22:39
  Speaker 3: idea of a hold is that it may be weakening
• 22:43
  Speaker 3: and we want to see it turn around before we
• 22:45
  Speaker 3: recognize it. Or it may be overpriced at this time.
• 22:49
  Speaker 3: It may be very rich in its price, in its
• 22:52
  Speaker 3: stock price valuation. Don't forget, you can always have a
• 22:56
  Speaker 3: great company, a great run company that that is overpriced,
• 23:00
  Speaker 3: or you could have a poorly run company at a
• 23:03
  Speaker 3: great price. Neither one of those are something we want
• 23:06
  Speaker 3: to chase. We want to find the great company at
• 23:08
  Speaker 3: the great price primarily and utilize those, especially for new
• 23:13
  Speaker 3: portfolios so that you come in and hit the ground running.
• 23:16
  Speaker 3: The number here is 610-363-1110. We'd love to hear from you.
• 23:20
  Speaker 3: I know some of the questions came in, sounded a
• 23:23
  Speaker 3: bit contentious or what's the right word, Seth? Contentious? contentious.
• 23:29
  Speaker 3: That would be the right word. Yeah, but they're really not.
• 23:31
  Speaker 3: We love your questions. We love your challenges. You know why?
• 23:35
  Speaker 3: Because they help us and help everybody else. That's what
• 23:38
  Speaker 3: we're here for. We want to help you realize the
• 23:41
  Speaker 3: fullness of your relationship with Jesus Christ through your investments,
• 23:45
  Speaker 3: not despite them. Welcome back, everyone. This is Mark Manella
• 24:11
  Speaker 3: here at Financial Issues. And you know, sometimes we don't
• 24:15
  Speaker 3: really like to get political. We kind of love it, really.
• 24:19
  Speaker 5: Because the bottom line is that we have a responsibility
• 24:26
  Speaker 5: as stewards to steward this country, this country that God
• 24:30
  Speaker 5: gave us.
• 24:31
  Speaker 3: And being stewards of this country, we really need to
• 24:33
  Speaker 3: understand what's going on. Unfortunately, there's not a lot of
• 24:37
  Speaker 3: good media or news that we can turn to that's
• 24:40
  Speaker 3: not really slanted one way or the other so bad
• 24:43
  Speaker 3: that we can't get the truth. However, recently I was
• 24:46
  Speaker 3: on the Chris Salcedo show and I was so impressed
• 24:50
  Speaker 3: with this gentleman and his insights. And I thought, you know,
• 24:54
  Speaker 3: it'd be really good to have him on and help
• 24:56
  Speaker 3: us get some clarity here. So joining us right now
• 25:00
  Speaker 3: is Chris Salcedo from the Chris Salcedo show. Chris, welcome
• 25:03
  Speaker 3: to Financial Issues.
• 25:05
  Speaker 7: Mark, Seth, thanks for the invite, guys.
• 25:06
  Speaker 3: Appreciate it. Oh, no, I'm so glad you're here. Listen,
• 25:10
  Speaker 3: the media says the Republicans are headed for big losses.
• 25:14
  Speaker 3: I know we're starting off right away with Republicans and Democrats.
• 25:18
  Speaker 3: But hey, do you agree? Are we really headed for,
• 25:23
  Speaker 3: are the Republicans really headed for a big loss?
• 25:27
  Speaker 7: Well, the truth is, I don't know. But let me
• 25:30
  Speaker 7: give you some data and maybe folks can glean information.
• 25:34
  Speaker 7: some sanity from this. First off, the polls, according to
• 25:37
  Speaker 7: analyses from Data Republican and other people across the media spectrum,
• 25:42
  Speaker 7: they have been oversampling Democrats and undersampling Republicans by an
• 25:49
  Speaker 7: average of nine and a half points, okay?
• 25:51
  Speaker 1: Wow.
• 25:52
  Speaker 7: CNN just came out the other day and said, if
• 25:55
  Speaker 7: the Republicans have been undercounted by just three points, between
• 25:58
  Speaker 7: two and four, so we took the average, You guys
• 26:01
  Speaker 7: are about numbers, about the economy, so you'll understand. So
• 26:05
  Speaker 7: if the Republicans are undercounted by just three points, the
• 26:08
  Speaker 7: Republicans keep the House and they keep the Senate.
• 26:11
  Speaker 6: Okay?
• 26:12
  Speaker 7: So what many believe is that these polls that have
• 26:16
  Speaker 7: been out there, we call them suppression polls, have been
• 26:19
  Speaker 7: out there trying to dispirit Republican voters into in conjunction
• 26:23
  Speaker 7: with the inactivity of the United States Senate under Republicans,
• 26:26
  Speaker 7: let's be fair, the Republicans in the United States Senate
• 26:29
  Speaker 7: turned in the least productive Senate in U.S.
• 26:32
  Speaker 6: History.
• 26:32
  Speaker 7: And they did so on purpose because they are eager,
• 26:35
  Speaker 7: many of these fake Republicans are eager to turn over
• 26:38
  Speaker 7: this country back over to socialists and communists. Because that's
• 26:42
  Speaker 7: how they start, the graft can keep the graft going
• 26:46
  Speaker 7: and they can continue to loot this country three ways
• 26:48
  Speaker 7: from Sunday. So- This is the agenda. Now, whether the
• 26:53
  Speaker 7: American people are going to buy it or not, that's
• 26:55
  Speaker 7: the big question mark, because what is President Trump and
• 26:58
  Speaker 7: the America First coalition, what have they been doing? They've
• 27:01
  Speaker 7: been leaving it all in the field.
• 27:02
  Speaker 3: They've been doing everything they possibly can.
• 27:04
  Speaker 7: So the American people now more than ever have seen
• 27:09
  Speaker 7: that just because the Republicans in the Senate are do
• 27:13
  Speaker 7: nothing and part of the surrender caucus, it doesn't necessarily
• 27:17
  Speaker 7: translate to every Republican or everybody who is in government
• 27:21
  Speaker 7: Many are saying, hey, look at the economic situation we're
• 27:24
  Speaker 7: in now. Even as many headwinds are in front of us,
• 27:28
  Speaker 7: it's still head and shoulders above what we got from
• 27:30
  Speaker 7: the last communist administration under President Autopen.
• 27:34
  Speaker 3: Yeah, you know, this is really important you bring this
• 27:36
  Speaker 3: up because we talked about this from the very beginning
• 27:39
  Speaker 3: since he got back in. The impact that this administration
• 27:43
  Speaker 3: has been having on this economy. Think about how resilient
• 27:47
  Speaker 3: it's been. with all the attacks, with all the craziness,
• 27:50
  Speaker 3: with 90 percent of the media are more being against
• 27:53
  Speaker 3: this administration, with enemies within the Republican Party pretending to be.
• 27:58
  Speaker 3: I mean, it's just they have laid a foundation here
• 28:02
  Speaker 3: that is rock solid that could take us into a
• 28:05
  Speaker 3: whole new dimension of success as a country if we
• 28:08
  Speaker 3: continue ahead. And I think that Most people don't understand
• 28:13
  Speaker 3: how strong this economy has been made by the decisions
• 28:18
  Speaker 3: being made by this administration. Would you agree? Oh, absolutely.
• 28:22
  Speaker 7: I mean, tell me what mechanism that could have been
• 28:27
  Speaker 7: deployed by the surrender caucus, the Bushes or by Clinton
• 28:32
  Speaker 7: or Obama or by Biden that would have incentivized this.
• 28:35
  Speaker 7: An estimated 19 to 21 trillion dollars of reinvestment.
• 28:38
  Speaker 3: In the United States.
• 28:41
  Speaker 7: Tell me which one of them had the imagination or
• 28:43
  Speaker 7: the wherewithal to put America first. Trump did. And people
• 28:46
  Speaker 7: are saying tariffs are bad. Tariffs got us to where
• 28:50
  Speaker 7: we're able to onshore manufacturing something that they thought unthinkable
• 28:55
  Speaker 7: after they exported critical infrastructure like microchip production, like our medications.
• 29:04
  Speaker 7: To enemy nations and overseas countries, which which ended up
• 29:07
  Speaker 7: working to our detriment in times like the pandemic and such.
• 29:11
  Speaker 3: So nobody could see that happening, huh?
• 29:14
  Speaker 7: Right, right.
• 29:15
  Speaker 3: I mean, how short sighted do you have to be? No,
• 29:18
  Speaker 3: that's that's being too fair with him. The reality is
• 29:21
  Speaker 3: they knew what they were doing. They're destroying the U.S.
• 29:24
  Speaker 3: That's the whole idea is they want us under the
• 29:26
  Speaker 3: one world order. They want us to become under the
• 29:30
  Speaker 3: thumb of the elites of the world so that we
• 29:33
  Speaker 3: all become slaves for them, just like most of the
• 29:37
  Speaker 3: other countries in the world now. So let's stop. giving
• 29:40
  Speaker 3: them the benefit of a doubt and just say what
• 29:42
  Speaker 3: it is. It is, they are traitors. Yes, yes.
• 29:47
  Speaker 7: And you know what, let's just, where rubber meets the road.
• 29:50
  Speaker 7: What is everybody on about gas prices? And they're right
• 29:52
  Speaker 7: to be on about it. NBC Fake News had Scott Besson,
• 29:56
  Speaker 7: the Fuel prices have gone up 44% since the conflict
• 30:03
  Speaker 7: in Iran. Number one, we at least know this time
• 30:06
  Speaker 7: why our prices are going up because we're making sure
• 30:08
  Speaker 7: that the number one state sponsor of terrorism is in
• 30:11
  Speaker 7: a nuclear power. Many of us think that's a good thing,
• 30:13
  Speaker 7: but 44%. Well, let's examine what happened when the communists
• 30:18
  Speaker 7: ran things under the last administration, the last regime. What
• 30:21
  Speaker 7: was the percentage increase in fuel prices from the last
• 30:25
  Speaker 7: day of Trump to the height of Joe Biden's regime?
• 30:28
  Speaker 2: 110%.
• 30:29
  Speaker 3: Now, I'm not a mathematician, okay?
• 30:33
  Speaker 7: But I think that 44% is a lot better than
• 30:40
  Speaker 7: 110% increase on my fuel costs. And the same thing
• 30:42
  Speaker 7: with food. Food has been coming down. The prices have
• 30:46
  Speaker 7: been coming down. We have not started deflationary pressures yet,
• 30:51
  Speaker 7: which I think we need. But prices have been coming down.
• 30:54
  Speaker 7: We are far better off economically now. than we were
• 30:59
  Speaker 7: under the Democrats in four years of President Autopen. And
• 31:02
  Speaker 7: I think Americans, when they look at it, they can
• 31:04
  Speaker 7: empirically see that.
• 31:06
  Speaker 3: Chris, we need to stop right here because you're the
• 31:09
  Speaker 3: first person I've ever talked to who totally agrees with
• 31:13
  Speaker 3: me that we need deflation in place. I have been
• 31:18
  Speaker 3: told by people at Harvard, I've been told by people
• 31:21
  Speaker 3: with multiple master's degrees in finance that deflation is a
• 31:25
  Speaker 3: bad thing. And I was on a whole busload of
• 31:30
  Speaker 3: people from Harvard and financial people from around the world
• 31:34
  Speaker 3: and we were having this this discussion about Inflation and stuff.
• 31:38
  Speaker 3: I said, I'm really looking forward to deflation. Everybody told
• 31:41
  Speaker 3: me that would destroy our nation And I asked one
• 31:43
  Speaker 3: question I said how? Nobody could answer me. They can't
• 31:48
  Speaker 3: all these geniuses. I Because they've been brainwashed to believe
• 31:52
  Speaker 3: deflation is a bad term. Lowering the cost of things
• 31:56
  Speaker 3: is bad? Well, it could be for a company that
• 31:59
  Speaker 3: really doesn't know how to control their finances, and they're overborrowed,
• 32:03
  Speaker 3: and they're over, you know, they're... costs are through the
• 32:08
  Speaker 3: ceiling because they were flippant. They weren't trustworthy, as we
• 32:11
  Speaker 3: talked about in the first segment here with what the
• 32:14
  Speaker 3: Lord had trust in them. But, you know, those kind
• 32:17
  Speaker 3: of things weed out the weak companies and allow the
• 32:20
  Speaker 3: strong companies to grow.
• 32:22
  Speaker 4: Yeah.
• 32:22
  Speaker 7: And, you know, how the deflation takes place and for
• 32:25
  Speaker 7: what reasons is very important. A strengthening U.S. dollar is
• 32:30
  Speaker 7: a good way to bring up deflation because the dollar
• 32:35
  Speaker 7: has more buying power, thus more power in the consumer's hands.
• 32:40
  Speaker 7: 70% of America's economy is consumer-driven. That is a positive thing, folks.
• 32:45
  Speaker 7: Absolutely positive.
• 32:46
  Speaker 3: Absolutely, yeah. So what do you think would happen? We
• 32:49
  Speaker 3: only got a couple minutes here. So what do you
• 32:51
  Speaker 3: think would happen if those who really want to see
• 32:55
  Speaker 3: this nation survive and grow, what do you think will
• 32:57
  Speaker 3: happen if the Democrats do take over the House and
• 33:00
  Speaker 3: the Senate?
• 33:01
  Speaker 7: Well, if you listen to the Democrats, first, they want
• 33:04
  Speaker 7: to raise your taxes. That's how they solve affordability, folks.
• 33:07
  Speaker 7: They want to raise your taxes.
• 33:09
  Speaker 3: And across the board, that's all they.
• 33:11
  Speaker 2: Want to do.
• 33:11
  Speaker 3: That's number one.
• 33:12
  Speaker 7: And you guys tell me, just like we're just talking
• 33:14
  Speaker 7: about gas prices, about which one's better, 44% increase.
• 33:16
  Speaker 3: Or 110% increase?
• 33:17
  Speaker 4: Duh.
• 33:20
  Speaker 7: How many of you believe that you're going to be
• 33:22
  Speaker 7: taxed into prosperity? Go ahead, raise your hand. That's number one.
• 33:26
  Speaker 7: But number two, they're already telling you. Alyssa Slotkin, these
• 33:30
  Speaker 7: other Democrats who want to let criminals out of jail,
• 33:34
  Speaker 7: the decarceration folks are saying, we'll make an exception for
• 33:37
  Speaker 7: our political opponents. They want to throw all of you
• 33:40
  Speaker 7: who have.
• 33:40
  Speaker 3: Been Trump supporters, America First supporters out.
• 33:43
  Speaker 7: They want to put you all in jail or worse.
• 33:45
  Speaker 3: Can you imagine that, Chris? Live from my prison cell,
• 33:49
  Speaker 3: financial issues. It would be a lot of fun. Hey,
• 33:52
  Speaker 3: I want to take a moment because we only got
• 33:54
  Speaker 3: a little bit of time left to bring up your book,
• 33:57
  Speaker 3: The Rise of the Liberty Loving Latino. Explain that to us.
• 34:04
  Speaker 7: The rise of the liberty-loving Latino, we hearken back to
• 34:07
  Speaker 7: the 2024 election when 48% of Latinos voted for Trump,
• 34:11
  Speaker 7: 52% of Latino males, majority, voted for President Trump. And
• 34:16
  Speaker 7: it was a sea change, a catastrophic sea change for
• 34:19
  Speaker 7: Democrats that saw the Latino community go, man, we don't
• 34:23
  Speaker 7: like all the lawlessness.
• 34:24
  Speaker 3: We don't like all the corruption.
• 34:26
  Speaker 7: We want a different course.
• 34:27
  Speaker 3: We want to put America first.
• 34:28
  Speaker 7: We came here for the stability of the rule of
• 34:30
  Speaker 7: law and a robust economy. And so many Latinos did that.
• 34:35
  Speaker 7: And it's not only turning out to be a treatise
• 34:36
  Speaker 7: about what happened, but it's how we continue to keep
• 34:39
  Speaker 7: the winning going. So that's what the book is about.
• 34:42
  Speaker 7: And it's coming up on the one-year anniversary audiobook hard
• 34:45
  Speaker 7: copy at Amazon, The Rise of the Liberty-Loving Latino, A
• 34:49
  Speaker 7: New American Revolution.
• 34:50
  Speaker 3: Well, Chris, thank you so much for joining us today.
• 34:53
  Speaker 3: Really enjoyed your input and your thoughts. I hope you'll
• 34:56
  Speaker 3: come back again really soon because We need someone like
• 35:00
  Speaker 3: you to join us with the political slant on everything,
• 35:03
  Speaker 3: the reality, the truth. Thank you again so much for
• 35:07
  Speaker 3: being on with us. Thanks, guys. Yeah, and we want
• 35:11
  Speaker 3: to thank everybody here also for being with us. Stay
• 35:14
  Speaker 3: with us. We're just going to go to a short break.
• 35:16
  Speaker 3: We'll get to your calls here in the queue, 610-363-1110.
• 35:20
  Speaker 3: Maybe you have something to say about what Chris said.
• 35:36
  Speaker 8: The opinions and recommendations expressed on this program do not
• 35:39
  Speaker 8: necessarily represent the opinions of the station or any of
• 35:42
  Speaker 8: the program's sponsors. Additionally, all products or services offered by
• 35:46
  Speaker 8: the program's sponsors may not be known by the program.
• 35:53
  Speaker 2: Folks, give us a call, 610-363-1110. It was delightful to
• 35:56
  Speaker 2: have Chris on. I hope that you'll go back and
• 35:58
  Speaker 2: listen to that segment there. Great segment, Mark. And I
• 36:00
  Speaker 2: know a lot of our listeners loved it, too.
• 36:02
  Speaker 3: I enjoyed it.
• 36:03
  Speaker 2: Some fangirling in the audience.
• 36:04
  Speaker 3: I felt like we were related.
• 36:07
  Speaker 2: I always watch your show on Newsmax. Yeah, it's awesome. Yeah,
• 36:10
  Speaker 2: Dave and Darlene loved it. Who else? George, that was
• 36:13
  Speaker 2: in the X-Ring. Love that. Great stuff.
• 36:16
  Speaker 4: Debbie, thank you, Chris. Polls are usually not very accurate.
• 36:19
  Speaker 4: I totally agree with you. I pray our country does
• 36:21
  Speaker 4: not go socialist.
• 36:22
  Speaker 2: Amen, Debbie.
• 36:24
  Speaker 4: I usually don't put too much stake in polls either,
• 36:26
  Speaker 4: but even me, I'm seeing all these polls saying the
• 36:28
  Speaker 4: Democrats are going to thwomp the Republicans, but Chris maybe
• 36:32
  Speaker 4: reassured me a little bit with his analysis there.
• 36:35
  Speaker 2: So I'm with you, Debbie.
• 36:36
  Speaker 3: Yeah.
• 36:37
  Speaker 2: I think it's a good reminder of what politics is.
• 36:39
  Speaker 2: It's a war of attrition. It's a war for the
• 36:41
  Speaker 2: heart of the people. And any strategy that you can
• 36:44
  Speaker 2: get to get out in front makes a lot of sense.
• 36:47
  Speaker 2: I was wondering, Mark, you know, I would wonder what
• 36:49
  Speaker 2: Chris's take on this is, but isn't that, isn't like...
• 36:53
  Speaker 2: putting out polls like that, that maybe are inaccurate. It
• 36:56
  Speaker 2: could that be, you know, voter tampering or fraud.
• 36:59
  Speaker 3: Or something like that.
• 37:00
  Speaker 2: I mean, it just seems like it's not fair, but.
• 37:02
  Speaker 3: If they can, if they can actually rationalize it, uh,
• 37:06
  Speaker 3: as real, you know, they just did a poll. It, it,
• 37:10
  Speaker 3: And they mention in the poll that they are sampling
• 37:12
  Speaker 3: more Democrats than they are Republicans.
• 37:14
  Speaker 4: So it's a fair poll. Most people don't end up
• 37:18
  Speaker 4: reading that.
• 37:20
  Speaker 2: So it's on you as the consumer to know. But
• 37:22
  Speaker 2: you're right. It does have that effect, though. It has
• 37:24
  Speaker 2: that cumulative effect.
• 37:25
  Speaker 4: If you have a lot of polls doing it, it
• 37:27
  Speaker 4: wears people out and they think, well, the Democrats are
• 37:30
  Speaker 4: going to win anyway, so why should I vote?
• 37:32
  Speaker 2: And that hits me.
• 37:34
  Speaker 3: Just the opposite. it hits me like, wow, it looks
• 37:37
  Speaker 3: like we may, it looks like the left-leaning communist socialists
• 37:42
  Speaker 3: are going to take over the Senate and the House.
• 37:45
  Speaker 3: I better get out there and vote. My vote is needed.
• 37:48
  Speaker 3: And you know what? I think my generation is like that.
• 37:52
  Speaker 3: They call it the silent majority. Now, You know how
• 37:55
  Speaker 3: silent I am with a microphone.
• 37:56
  Speaker 2: In front of me.
• 37:59
  Speaker 3: I'm the exception to the silent majority. I get on
• 38:02
  Speaker 3: the air.
• 38:03
  Speaker 2: You're the vocal silent majority. Not exactly silent. There you go.
• 38:07
  Speaker 2: That's good.
• 38:08
  Speaker 6: 610-363-1110.
• 38:09
  Speaker 2: Love that. Hey, Mark, let's go to the phones. Why
• 38:10
  Speaker 2: don't we talk to Joe from your home state of Kansas?
• 38:12
  Speaker 2: I'm sorry. You're not in Kansas.
• 38:14
  Speaker 3: Kansas?
• 38:15
  Speaker 2: Oh, gosh. We're not in Kansas anymore, are we?
• 38:19
  Speaker 3: Hey, Joe. Welcome to Financial Issues. Glad you're with us.
• 38:22
  Speaker 3: What's on your mind?
• 38:24
  Speaker 6: Well, good morning, and God bless you guys. Thank you
• 38:26
  Speaker 6: for all that you do.
• 38:28
  Speaker 3: Well, thank you.
• 38:30
  Speaker 6: You're very welcome. Anyways, my question is, the last couple
• 38:33
  Speaker 6: days or so, you all have been, and I haven't
• 38:36
  Speaker 6: had a lot of opportunity to listen, but I've picked
• 38:39
  Speaker 6: up bits and pieces on tax harvesting.
• 38:42
  Speaker 3: Yeah, we've been talking about that since the beginning of October,
• 38:46
  Speaker 3: I believe, yeah.
• 38:48
  Speaker 6: Okay, a couple weeks or more. Okay. I have a question.
• 38:54
  Speaker 6: There's long-term and there's short-term. And so since I've heard
• 39:01
  Speaker 6: you guys talking about it, I went back and looked,
• 39:03
  Speaker 6: and I've found like five different places where I could
• 39:07
  Speaker 6: do that, different equities. And in doing so, my question
• 39:13
  Speaker 6: then is long-term, that's your better– write-off, isn't it? Or
• 39:19
  Speaker 6: the one to harvest for tax write-off.
• 39:22
  Speaker 3: Right. It has tax benefits. For example, if you're in
• 39:25
  Speaker 3: a lower tax bracket, you could pay zero capital gains
• 39:28
  Speaker 3: on long-term capital gain. or 10% for like a middle
• 39:32
  Speaker 3: income and 20% on upper income. But each of those
• 39:37
  Speaker 3: is substantially cheaper than what you would pay on your
• 39:41
  Speaker 3: normal income or your short-term. So yeah, you're right. Long-term
• 39:46
  Speaker 3: capital gains. And what happens with When you do harvesting,
• 39:50
  Speaker 3: if you have long-term capital gains or losses, you know,
• 39:54
  Speaker 3: you've held the stock over 13, you've held it 13
• 39:58
  Speaker 3: months or more. What happens is first those losses are
• 40:02
  Speaker 3: applied to long-term capital gains. Then they're applied to short-term.
• 40:07
  Speaker 3: Then up to $ 3, 000 can be applied to just general income.
• 40:11
  Speaker 3: And then anything left over gets rolled over into the
• 40:14
  Speaker 3: next year to offset gains there. And the same thing
• 40:17
  Speaker 3: with short-term. If it's a short-term capital gain, which most
• 40:21
  Speaker 3: people would be the better one to go against, if
• 40:26
  Speaker 3: you have short-term losses, they offset the short-term capital gains first,
• 40:30
  Speaker 3: then the long-term, then as we talked about there.
• 40:34
  Speaker 6: Oh, okay. Yeah, see, I need to go back and
• 40:36
  Speaker 6: listen to, re-listen to what you all have talked about
• 40:41
  Speaker 6: in detail. So, Okay, well, great. That answers my question.
• 40:45
  Speaker 3: We're going to do more of that coming up, by
• 40:46
  Speaker 3: the way. We have a couple of shows. One of
• 40:48
  Speaker 3: them will probably do a whole segment on that because
• 40:51
  Speaker 3: it does confuse a lot of people at times. Can
• 40:55
  Speaker 3: you imagine tax laws confusing people, Joe?
• 40:59
  Speaker 6: What a thought, right, Joe? Gotcha.
• 41:05
  Speaker 3: So we're going to do some clarity on all that
• 41:08
  Speaker 3: somewhere in the near future here. And there's things we're
• 41:11
  Speaker 3: talking about like end-of-year checklists before it gets too late
• 41:14
  Speaker 3: in the year so you can get through those before–
• 41:17
  Speaker 3: because there is the 60-day rule, the wash rule that
• 41:23
  Speaker 3: they say throughout most of America and wash rule that
• 41:26
  Speaker 3: they say up in– In Philadelphia.
• 41:28
  Speaker 2: The Kevin Warsh rule, Mark?
• 41:29
  Speaker 3: The Kevin Warsh rule. You know, so you really need
• 41:33
  Speaker 3: to understand that, too, so that you don't end up
• 41:37
  Speaker 3: losing that tax break as well. So just tune in
• 41:41
  Speaker 3: the show. And if you miss it, that's OK. You
• 41:43
  Speaker 3: can go back to financialissues.org. All our shows are archived there.
• 41:48
  Speaker 3: I think the last 10, you can just scroll through
• 41:51
  Speaker 3: real quick and check it out. So hopefully you'll be
• 41:55
  Speaker 3: able to make the show, though. Really appreciate your question, Joe,
• 41:58
  Speaker 3: because it's a great question, especially this time of year.
• 42:01
  Speaker 3: And with the choppy year we had, I believe there
• 42:04
  Speaker 3: are some people who have some just incredible returns. In fact,
• 42:07
  Speaker 3: I know they have because they've told us 400, 600,
• 42:10
  Speaker 3: 700% returns. And yet those same people could also say,
• 42:16
  Speaker 3: but I've held this one since the beginning of the
• 42:18
  Speaker 3: year or since last year, and it's down 45%. So
• 42:23
  Speaker 3: there's ways to offset those taxes and not lose out
• 42:26
  Speaker 3: because- Here's one thing that most people forget. You know,
• 42:29
  Speaker 3: they'll say something like, Mark, I thought you guys believed
• 42:32
  Speaker 3: in long-term investing. Why are you telling us the tax
• 42:34
  Speaker 3: harvest here, tax loss harvest? Well, sometimes when somebody places
• 42:39
  Speaker 3: a couple of gold chips on your desk, you might
• 42:41
  Speaker 3: as well take them up, especially when you aren't going
• 42:44
  Speaker 3: to lose anything by doing that. It's going to help.
• 42:47
  Speaker 3: By being a good steward and maximizing what God has
• 42:50
  Speaker 3: given you, you can get into the stock in 30 days.
• 42:54
  Speaker 3: You don't have to be out of it forever. If
• 42:56
  Speaker 3: it turns around in that 30 days or 60 days,
• 42:59
  Speaker 3: you can get back into it, and we'll let you
• 43:01
  Speaker 3: know when we believe it's a buy again. Okay.
• 43:04
  Speaker 6: All right. Well, thank you so very, very much, and
• 43:08
  Speaker 6: I'll keep listening.
• 43:10
  Speaker 3: Thank you, George. Joe, I really appreciate your call. God
• 43:13
  Speaker 3: bless you, sir.
• 43:14
  Speaker 1: God bless you, brother.
• 43:15
  Speaker 2: Great to hear from you. You know, Mark and Sam,
• 43:17
  Speaker 2: it is National Estate Planning Awareness Week, second day of that.
• 43:22
  Speaker 2: I find this interesting. You know, we don't often think
• 43:25
  Speaker 2: about there actually is a story in the scriptures that
• 43:28
  Speaker 2: speaks directly to the need for good estate planning. So
• 43:31
  Speaker 2: it's found in 1 Kings 1, King David was nearing
• 43:33
  Speaker 2: death and he failed to publicly clarify who would inherit
• 43:36
  Speaker 2: the throne. Now, David had a lot of sons from
• 43:39
  Speaker 2: several different women. His older son Adonijah took advantage, held
• 43:43
  Speaker 2: a self-promoted coronation feast to seize power. The prophet Nathan,
• 43:47
  Speaker 2: as well as Bathsheba, alerted David, who immediately intervened in
• 43:50
  Speaker 2: his old age on his deathbed to publicly crown Solomon
• 43:53
  Speaker 2: the king at the Gihon Spring. Mark, that's such a
• 43:56
  Speaker 2: lesson for us.
• 43:57
  Speaker 4: And that's not the end of the story, because he
• 43:59
  Speaker 4: still tries to come for the crown even after David's gone.
• 44:02
  Speaker 4: So it just further proves that you need to plan
• 44:05
  Speaker 4: these things well.
• 44:06
  Speaker 2: That's right.
• 44:06
  Speaker 6: That's right.
• 44:08
  Speaker 3: Luckily, we're not talking about estate planning in that deep
• 44:11
  Speaker 3: of a thing where a whole nation, well, maybe we
• 44:13
  Speaker 3: can be, you know, it's important, but we don't appoint
• 44:16
  Speaker 3: our kings anymore. We elect them. But what we can
• 44:19
  Speaker 3: do is let our children and our spouse leave them
• 44:23
  Speaker 3: in a better place. You know, think about this. Last
• 44:26
  Speaker 3: thing I want is to have financial issues When my
• 44:31
  Speaker 3: wife passes away, if she passes away before me, you know,
• 44:34
  Speaker 3: there's enough on my plate just missing her. And even
• 44:38
  Speaker 3: though I know I'm going to be with her in heaven,
• 44:40
  Speaker 3: and even though she's in heaven, I know that. Even
• 44:43
  Speaker 3: Jesus cried at the funeral of his friend who he
• 44:46
  Speaker 3: knew he was going to raise from the dead. So
• 44:48
  Speaker 3: that emotional link is there. You don't need to bring
• 44:52
  Speaker 3: any unnecessary pain into that situation. One way to do
• 44:56
  Speaker 3: that is to have your finances in order and have
• 45:00
  Speaker 3: your estate planning in order. Now, basic estate planning for
• 45:03
  Speaker 3: the majority of Americans is there. It's a will. It's
• 45:08
  Speaker 3: durable powers of attorney. It's healthcare powers of attorney. Those
• 45:11
  Speaker 3: things can be done for free at financialissues.org. Yeah, for free.
• 45:16
  Speaker 3: Whether you're a partner or not, you can go out
• 45:17
  Speaker 3: to financialissues.org and get that in a line. Instead of
• 45:21
  Speaker 3: leaving it up to the state to determine what happens
• 45:25
  Speaker 3: in your life, in your financial life and everything else
• 45:28
  Speaker 3: for your family. If you don't have a will, the
• 45:31
  Speaker 3: state has one for you. unfortunately, and it's called probate.
• 45:35
  Speaker 3: And they decide how things go and it costs your
• 45:38
  Speaker 3: estate money or those kinds of things. So you can
• 45:41
  Speaker 3: get things in order. And again, we're going to be
• 45:44
  Speaker 3: talking a little bit more about this as time goes
• 45:46
  Speaker 3: on here. Things like beneficiary deeds, making sure your beneficiaries
• 45:51
  Speaker 3: are up to date. That's one of the things a
• 45:52
  Speaker 3: lot of people don't think about is estate planning. If
• 45:55
  Speaker 3: you have an investment account, if you have a car,
• 45:57
  Speaker 3: if you have a house, do you have the beneficiary
• 46:00
  Speaker 3: deeds titled properly so that if you pass away, it
• 46:03
  Speaker 3: doesn't have to go through probate, but it automatically goes
• 46:07
  Speaker 3: to those that you want it to go to. So
• 46:10
  Speaker 3: just a lot of great things to talk about on
• 46:13
  Speaker 3: estate planning and especially basic estate planning. And if it's free,
• 46:19
  Speaker 3: why wouldn't you take the time to do it? Right, Seth?
• 46:22
  Speaker 2: Amen, Mark. That's exactly right. Actually, we have a chat
• 46:24
  Speaker 2: comment here. Thomas in Texas is saying, I have a
• 46:26
  Speaker 2: what to do after my death binder. That's a great idea, Thomas.
• 46:30
  Speaker 3: I love it. Excellent idea.
• 46:32
  Speaker 2: You can check it out. It's under the resources tab.
• 46:35
  Speaker 2: Just make a will. Yep, or financialissues.org slash will.
• 46:39
  Speaker 3: Perfect. There you go. Excellent stuff, everybody. I hope you
• 46:43
  Speaker 3: also will prepare for tomorrow's show because we're going to
• 46:45
  Speaker 3: be back at 9 a.m. Eastern time. And you could
• 46:48
  Speaker 3: get in on the queue. You could go to financialissues.org.
• 46:51
  Speaker 3: You could listen to us and watch us in the
• 46:55
  Speaker 3: 500 to 700 different radio stations, television stations. We'd love
• 46:59
  Speaker 3: you to join us. God bless everyone. And thank you
• 47:02
  Speaker 3: for loving the Lord. And thank you for investing with
• 47:05
  Speaker 3: biblical integrity.
• 47:17
  Speaker 2: If we ever forget that we're one nation under God,
• 47:20
  Speaker 2: then we will be.