Latest / Financial Survival Network / The AI Economy Changes Everything - Jerry Robinson #6395

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The AI Economy Changes Everything - Jerry Robinson #6395 · Financial Survival Network

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  Speaker 1: You are listening to Carrie Lutz's Financial Survival Network, where
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  Speaker 2: Now more than ever.
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  Speaker 1: Go to Financial Survivalnetwork dot com and get your free
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  Speaker 1: newsletter and gift. Financial Survival Network now more than ever.
• 0:27
  Speaker 2: And welcome.
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  Speaker 3: You are watching the Financial Survival Network. I'm your host,
• 0:32
  Speaker 3: Carrie Lutz. We are attempting to do a live stream
• 0:37
  Speaker 3: and hopefully it's going to work. You will all be
• 0:41
  Speaker 3: able to see it. And the seeing is believing, as
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  Speaker 3: they say. Jerry Robinson with us Follow the Money dot com.
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  Speaker 3: Jerry and I have known each other for god over
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  Speaker 3: a decade now, Jerry right, Oh yeah, why something amazing huh?
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  Speaker 3: And here we are man like we talked about We've
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  Speaker 3: talked about these issues so many times, the economy, the
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  Speaker 3: war cycle, everything that's going.
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  Speaker 2: Wrong in the world, and you know.
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  Speaker 3: Every time, it's like deja vu all over again. It's uh,
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  Speaker 3: you hope things are gonna get better, but you know
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  Speaker 3: how much better are they going to get? And in
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  Speaker 3: any event, well, we're still here, so let's talk about
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  Speaker 3: what's happening.
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  Speaker 2: In the world here.
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  Speaker 3: I know you've got some charts you want to share
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  Speaker 3: with us. We're streaming this to the FSN community. I
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  Speaker 3: don't have access to that window right this second, or
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  Speaker 3: I could tell us how many people were there. But
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  Speaker 3: you know, as all this is happening, you know there's
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  Speaker 3: real life, real world consequences. Tell us, Brie, what are
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  Speaker 3: your thoughts about what's happening right now in the world,
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  Speaker 3: economy wise, war cycle, metals, shot stocks, all of that stuff.
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  Speaker 4: Sure, happy to and we can look at some charts
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  Speaker 4: here in a minute, I'll pull them up. I'll just
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  Speaker 4: make a couple of brief, maybe introductory comments about.
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  Speaker 2: What we see.
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  Speaker 4: Am I coming through? Okay, Carrie, you hear me? Okay,
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  Speaker 4: good deal, Yeah, you're perfect. Nice Okay. Well, first of all,
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  Speaker 4: great to be here, and I appreciate your show. I
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  Speaker 4: appreciate your work. You've been doing a lot of stuff
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  Speaker 4: for a long time, trying to wake up folks and
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  Speaker 4: help them understand the situation. And the situation is just
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  Speaker 4: that we have to find the silver lining in all
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  Speaker 4: of this. We have to continue to be positive and
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  Speaker 4: optimistic for our families and for ourselves and for our communities.
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  Speaker 4: But The truth is is that you know, those living
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  Speaker 4: here in America, this is a this is a very
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  Speaker 4: challenging time. We don't have to tell people that the
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  Speaker 4: prices of everything have obviously gone up. Right now, we're
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  Speaker 4: staring at PPI and CPI prints that have come in
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  Speaker 4: at three year highs. That's just as we have Jerome
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  Speaker 4: Powell exiting stage left and then or right, whatever we
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  Speaker 4: want to say, we have Kevin Warsh coming in, who
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  Speaker 4: has forever and a day, Carrie, been an inflation hawk.
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  Speaker 4: Right He's worried about inflation, sees inflation behind every bush.
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  Speaker 4: And now now that he's been appointed, he has seen
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  Speaker 4: the light, Carrie. He has realized that inflation is not
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  Speaker 4: that pesky problem that we once thought it was, and instead,
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  Speaker 4: what we need right before the midterms, the right before
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  Speaker 4: the midterm elections, Carrie, would be a nice little round
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  Speaker 4: of rake cuts. And so that's what's happening right now.
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  Speaker 4: We have inflation, we have data that is screaming to
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  Speaker 4: us that we are not going the right direction, and
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  Speaker 4: then we have policymakers who are coming in and ignoring
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  Speaker 4: that for political benefit. I think that's just outright what's
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  Speaker 4: happening for the average individual out there.
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  Speaker 2: You know, they're.
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  Speaker 4: Seeing high prices. They've heard these promises about how everything
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  Speaker 4: is going to get better, and you know, we can
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  Speaker 4: obviously point to the stock market. Maybe I'll throw up
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  Speaker 4: a heat map real quick, we'll look at some just
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  Speaker 4: what's happening right now. Let me turn this on here,
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  Speaker 4: get the right one.
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  Speaker 2: There it is.
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  Speaker 4: You should be seeing a heat map now on the screen.
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  Speaker 4: Hopefully you see that, Carrie, I'll add it and there
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  Speaker 4: we are. Nice all zoom in just a bit so
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  Speaker 4: we can see.
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  Speaker 2: Yeah.
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  Speaker 4: So, I mean, you know we're looking here. We got
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  Speaker 4: Silber at seventy six. It's pulled back obviously from its eyes.
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  Speaker 4: We'll look at some better charts in a second. Gold's
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  Speaker 4: around forty five hundred as we speak. The dollars back down,
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  Speaker 4: you know, below that one hundred level. That's the key
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  Speaker 4: area we watch. The Vicks is holding steady about twenty.
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  Speaker 4: I mean, once it gets above twenty five, we start
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  Speaker 4: to look for, you know, really good opportunities. Right now,
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  Speaker 4: it's pretty low despite all the stuff that's going on
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  Speaker 4: in oil just remains elevated as well. You know, when
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  Speaker 4: you look at crypto, it's kind of a same thing.
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  Speaker 4: We've been in a funk for a while, but maybe
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  Speaker 4: we can drill into some actual charts. Let me, I'll
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  Speaker 4: come over to Follow the Money dot com. You can
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  Speaker 4: go to Follow the Money dot com forward slash charts
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  Speaker 4: and you can get you can see all of these
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  Speaker 4: charts that we put up each and every weekend. This
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  Speaker 4: particular chart shows the S and P five hundred and
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  Speaker 4: as I was pointing out, we've seen, you know, yields like,
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  Speaker 4: for example, the thirty years was it, the thirty year
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  Speaker 4: yield on the treasury yield was at a nineteen year high.
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  Speaker 4: This week, we've seen the ten year yield climb. It's
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  Speaker 4: actually at its high for only twenty six We keep
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  Speaker 4: hitting new highs, so yields are going up, which which
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  Speaker 4: tells us that the market doesn't believe that we're going
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  Speaker 4: to have rate cuts. I mean, that's just clearly what's happening.
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  Speaker 4: They're seeing inflationary pressure. You talked about the war cycle.
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  Speaker 4: I mean that's obviously adding a lot of pressure as well,
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  Speaker 4: but investors are like, you know, throwing caution to the wind.
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  Speaker 4: And quite frankly, when we look at the underlying earnings
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  Speaker 4: for many of these stocks that are upholding the market.
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  Speaker 4: It's it's fantastic. I mean really really when you look
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  Speaker 4: at the earnings, the rally, at least this time is
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  Speaker 4: supported by really strong earnings. Now maybe strong earnings and
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  Speaker 4: just a few companies. The breadth is still strange for
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  Speaker 4: the market to be in an all time high. For example,
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  Speaker 4: let me show you this chart. Now, this was this
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  Speaker 4: was taken I think on Friday, so it's just a
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  Speaker 4: little bit Often these are just maybe a day or
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  Speaker 4: two old, but you can see here this particular chart
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  Speaker 4: is the percentage of stocks in the S and P
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  Speaker 4: trading above their two hundred day moving average. Well, so
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  Speaker 4: typically when you get to a new all time high,
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  Speaker 4: a lot of stocks are participating. And I think that's
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  Speaker 4: been making news lately is that it's basically one out
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  Speaker 4: of two stocks that are even in the S and
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  Speaker 4: P five hundred that are even above their two hundred
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  Speaker 4: day moving average, which is kind of a dividing line
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  Speaker 4: from bulls and bears kind of thing. When something goes
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  Speaker 4: below the two hundred SMA, people are like, well, that's probably,
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  Speaker 4: you know, not a great place to be. When it's
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  Speaker 4: above it, they tend to think, well, maybe it's more bullish. Well,
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  Speaker 4: if you just take the S and P and just
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  Speaker 4: you know, cut it in half of half of the stocks,
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  Speaker 4: two hundred and fifty stocks are above the two hundred day,
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  Speaker 4: two hundred fifty stocks are below it, which is really
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  Speaker 4: indicates a mixed market, kind of mixed breadth, is what
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  Speaker 4: we would say. And yet the market's at an all
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  Speaker 4: time high. So it's depending upon fewer stocks to get there.
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  Speaker 4: But when you look at the underlying or of those stocks,
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  Speaker 4: I mean, it's really impressive. You know, if you go
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  Speaker 4: back to stay like the dot com bubble, there a
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  Speaker 4: lot of people are worried about another bubble. It's understandable.
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  Speaker 4: I think there's areas where we do see bubble, like
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  Speaker 4: you know, prices. But you know, when you go back to, say,
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  Speaker 4: like the dot com bubble, which I traded through, I
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  Speaker 4: cut my teeth trading through the dot com bubble, didn't
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  Speaker 4: we all.
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  Speaker 2: Didn't we? Right?
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  Speaker 4: But yeah, Well, back in March of two thousand, if
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  Speaker 4: you looked like the forward, you know, twelve month forward
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  Speaker 4: pe ratio of say it's something like Oracle that was
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  Speaker 4: like one hundred and sixty. If you looked at something
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  Speaker 4: like Cisco, which was the Darling. I mean that was
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  Speaker 4: like the Nvidia member of the dot sure and Cisco,
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  Speaker 4: like It's ford PE ratio was around one hundred and
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  Speaker 4: forty at the peak, or maybe I got those backwards anyway,
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  Speaker 4: and even Microsoft was way up and so but when
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  Speaker 4: you look at the forward pees now, because it's a function,
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  Speaker 4: it's literally a function of price, you know, over whatever
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  Speaker 4: the net income is. When you look at that today
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  Speaker 4: and you look at like the big drivers of this
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  Speaker 4: market and Video, Microsoft, you know, some of the other ones,
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  Speaker 4: you have, Facebook or Meta. When you look at you know,
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  Speaker 4: these stocks and you look at their forward pe ratios,
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  Speaker 4: they're in the twenties, all of them. They're in the twenties.
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  Speaker 4: I think Apple may be a little elevated. I think
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  Speaker 4: it's like thirty two or something. But overall, when you
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  Speaker 4: look at what's driving the market, the forward pees are
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  Speaker 4: not set not screaming to us at, oh wow, we're
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  Speaker 4: in a big bubble. I mean, the earnings are supporting
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  Speaker 4: this rally, so so far, so far, right so far,
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  Speaker 4: And I think that the big fear for a lot
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  Speaker 4: of it is let's like, for example, look at the Nasdaq,
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  Speaker 4: which is you know, obviously had incredible rallies. I mean,
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  Speaker 4: look at from the five point fifty low that we
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  Speaker 4: were at of late March. I mean, this was no
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  Speaker 4: V shape recovery. This was something else. I mean it
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  Speaker 4: V shaped and then went way beyond. And you know,
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  Speaker 4: so we went from on QQQ, for example, we went
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  Speaker 4: from five point fifty ish back in late March to
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  Speaker 4: seven twenty I mean in six weeks. I mean that's
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  Speaker 4: a monster move, and so we're probably due for a
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  Speaker 4: pullback there. I mean, obviously nothing goes like that forever.
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  Speaker 4: You can really see it pronounced on this weekly chart
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  Speaker 4: where we pulled back to that fifty weekly moving average,
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  Speaker 4: really important one for technical traders, and man, it just
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  Speaker 4: went crazy. Now let me zoom in because there's something
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  Speaker 4: real interesting happening here on this very last print. I
• 10:34
  Speaker 4: don't know how well you can see that, but we
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  Speaker 4: but this week week is not over. But we've had
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  Speaker 4: this powerful series of big candlestick you know, bullish candlesticks
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  Speaker 4: going higher higher. We've had one, two, three, four, or
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  Speaker 4: five six weeks in a row of just nice powerful
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  Speaker 4: price action to the upside. What you look for when
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  Speaker 4: you're trying to figure out, you know, where does this
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  Speaker 4: thing end or when are we going to get a
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  Speaker 4: correction or whatever. You usually see it on the weekly candle,
• 11:01
  Speaker 4: and it'll often look like either just an obvious reversal,
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  Speaker 4: like it just comes back down, or you get to
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  Speaker 4: a dogie candle, and that's what we're seeing this week.
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  Speaker 2: Now.
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  Speaker 4: If that holds, I don't know if it will because
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  Speaker 4: we haven't got n Vidia earnings. But if you had,
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  Speaker 4: like this was Friday and we were closing out with
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  Speaker 4: a dogie right there after a series of powerful bullish candles,
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  Speaker 4: you would say that's a potential reversal signal. We may
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  Speaker 4: see some selling next week. So I'm kind of preparing
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  Speaker 4: to see a little bit of a pullback here because
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  Speaker 4: we've had such an incredible rally. But overall, if you
• 11:34
  Speaker 4: look at something like gold, take let's take a look
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  Speaker 4: at gold for a second, because gold is doing something
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  Speaker 4: also interesting. We broke out above the one hundred sma
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  Speaker 4: on gold back in late twenty twenty three. That became
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  Speaker 4: the primary support area for physical gold since then, and
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  Speaker 4: we didn't lose that one hundred sma through twenty four
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  Speaker 4: through twenty five. It consistently held and we just lost
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  Speaker 4: it in February and now it's been acting as a
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  Speaker 4: form of resistance. Well, I don't have the one hundred
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  Speaker 4: on here, I have the fifty, but the one hundred
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  Speaker 4: is a really important one when you're looking at physical gold,
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  Speaker 4: at least for this particular uptrend. And you'll notice here
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  Speaker 4: with physical gold, we're back in this demand what we
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  Speaker 4: call the demand zone between say forty four hundred and
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  Speaker 4: forty six hundred. We got that ice two hundred day support,
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  Speaker 4: but we're in a really interesting area here where we
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  Speaker 4: have a declining fifty day moving average and a rising
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  Speaker 4: two hundred day. So gold is going to get pinched
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  Speaker 4: here at some point and it's going to have to
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  Speaker 4: make a decision as to where it wants to go.
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  Speaker 4: It's been kind of dancing sideways for a bit, so
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  Speaker 4: we're looking for some sort of clarity there. Big five
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  Speaker 4: thousand dollars resistance overhead, and right now the gold silver
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  Speaker 4: ratio still favors gold. I mean, if you're betwixt between
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  Speaker 4: the two and saying which one is the better one
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  Speaker 4: to buy here, I think they're both in pretty good
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  Speaker 4: shape price wise. They've held very well relative to you
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  Speaker 4: know what we would expect, especially withate with rates going up,
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  Speaker 4: you know, rates going up, me scrolling here to silver here.
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  Speaker 4: With rates going up, you know, typically you would think
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  Speaker 4: to yourself, well, that's not good news for gold and
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  Speaker 4: silver because they're going to be competing with yield. Well,
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  Speaker 4: it all depends why the rates are. Why you know
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  Speaker 4: the rates are going up, why are yields rising? And
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  Speaker 4: if it's because you know, there's an expectation of you know, uh,
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  Speaker 4: major economic growth, they're gonna have to calm it down. Well,
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  Speaker 4: that's one thing, but that's not the case.
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  Speaker 2: Uh.
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  Speaker 4: The reason why yields are going up right now, they're
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  Speaker 4: they're backing off a bit today, But the reason why
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  Speaker 4: they've been on the ascent is because investors Wall Street
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  Speaker 4: knows inflation is going up. And this was what we
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  Speaker 4: were told was going to be handled, and it's not
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  Speaker 4: being handled. It's getting worse. War makes inflation worse, or
• 14:05
  Speaker 4: the deficit spending makes inflation worse. And I think the
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  Speaker 4: incoming FED chair, Kevin Worsh has laid out a couple
• 14:13
  Speaker 4: of interesting things. First of all, he said that you
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  Speaker 4: can't rely upon the old inflation metrics. The FED notoriously
• 14:23
  Speaker 4: looks at the core PCE numbers, the personal consumption expenditures
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  Speaker 4: and they prefer that over the CPI for inflation. Well,
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  Speaker 4: the new incoming FED chair has made the case that
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  Speaker 4: that's an inferior indicator, of inferior metric for measuring inflation,
• 14:43
  Speaker 4: and he prefers to use a D trended six month
• 14:47
  Speaker 4: or twelve month. I forget what. I don't have the
• 14:48
  Speaker 4: exact metric in firm, but he has a different preference
• 14:51
  Speaker 4: and we're all going to hear about it soon. He's
• 14:53
  Speaker 4: going to be talking about it much more. But the
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  Speaker 4: point is is that he's picked another inflation number that
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  Speaker 4: looks better and doesn't look is negative, as the PCEE
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  Speaker 4: obviously does, right, And so so he's picking something where
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  Speaker 4: he says, well, look it looks like it's lower, and
• 15:08
  Speaker 4: then on top of that he'll try to use that
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  Speaker 4: to to to cut rates ahead of the midterms. But
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  Speaker 4: also he's pointing at the obvious and inevitable deflationary pressures
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  Speaker 4: that come with innovation in AI, and he's I think
• 15:27
  Speaker 4: when you look at AI, for example, it's that's the
• 15:31
  Speaker 4: big question mark. That's the big that's the big question
• 15:34
  Speaker 4: mark as to whether this rally continues, even in silver,
• 15:37
  Speaker 4: even in copper, even in uranium, not just in tech,
• 15:43
  Speaker 4: because there's a big backlash to AI. The Wallstream Journal
• 15:47
  Speaker 4: ran a really interesting headline yesterday about how how many
• 15:50
  Speaker 4: data centers had been shut down from political pressure in
• 15:54
  Speaker 4: different cities and how it's kind of freaking out big tech.
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  Speaker 4: The President wants America to be the number.
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  Speaker 2: One AI power in the world.
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  Speaker 4: And he knows that if we don't, you know, he knows,
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  Speaker 4: as most of the big tech folks know, that if
• 16:10
  Speaker 4: we don't do it, somebody else will. China has already
• 16:12
  Speaker 4: given our many different areas evs, especially drone technology, all
• 16:17
  Speaker 4: this kind of stuff, and and AI, I mean, they're
• 16:19
  Speaker 4: they're not afraid of it, that they're pushing forward. And
• 16:22
  Speaker 4: we have a lot of Ludites in this country. I'm
• 16:25
  Speaker 4: I can be one of them sometimes.
• 16:28
  Speaker 2: Sometimes, you know.
• 16:28
  Speaker 4: I mean, I'm not saying that, you know, sometimes I can.
• 16:31
  Speaker 4: And it all depends and and and it seems like, uh,
• 16:35
  Speaker 4: this situation here could really be difficult it But it
• 16:40
  Speaker 4: does seem like that the current the president administration is
• 16:43
  Speaker 4: going to try to ram this through despite what we
• 16:45
  Speaker 4: think about AI, because I think they know that.
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  Speaker 2: They're in a race.
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  Speaker 4: They're in the arms rates with China and if they
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  Speaker 4: allow you know, people to say, look, we don't want AI.
• 16:56
  Speaker 4: That that actually going to cost us long term, but
• 16:59
  Speaker 4: don't forget it. You know, people were afraid of trains.
• 17:04
  Speaker 4: Whenever trains came out.
• 17:05
  Speaker 2: I mean, the.
• 17:06
  Speaker 4: Railroad was considered, you know, going to be an ecological disaster.
• 17:10
  Speaker 4: It was gonna you know, it was going to destroy
• 17:12
  Speaker 4: properties and all these things. And then of course when
• 17:14
  Speaker 4: the Model T came out, uh, you know, that was
• 17:18
  Speaker 4: a new innovation, and people thought that was a death trap.
• 17:21
  Speaker 4: They said, I'll never get in one of those things,
• 17:23
  Speaker 4: you know, and I'd rather ride a horse, you know,
• 17:26
  Speaker 4: the true. And then when they they started to electrify homes,
• 17:30
  Speaker 4: they started bringing in cables and they started bringing them
• 17:32
  Speaker 4: into your house. People were like, that's that's like, you're
• 17:35
  Speaker 4: going to literally get fried in your own house. Why
• 17:37
  Speaker 4: in the world would you connect an electric cable to
• 17:40
  Speaker 4: your house. People thought that was an idiotic and so
• 17:44
  Speaker 4: and then when the Internet came around, people were like, well,
• 17:46
  Speaker 4: this is going to take my job or nobody's going
• 17:48
  Speaker 4: to work in normal jobs anymore, and who's gonna who
• 17:51
  Speaker 4: the hell's why would you use email? I mean, we
• 17:54
  Speaker 4: always write letters. This is fine, Why do we need so?
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  Speaker 4: I mean, when we look at AI.
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  Speaker 3: It just so good, good, right post off a good
• 18:01
  Speaker 3: who would ever want to replace.
• 18:05
  Speaker 4: Exactly so and and so so.
• 18:09
  Speaker 2: So. Now now we're in.
• 18:10
  Speaker 4: A situation where those those same fears are rising up.
• 18:14
  Speaker 4: I mean, and they're legitimate, because people are fearful, like
• 18:17
  Speaker 4: they see people, they see big tech you know, killing
• 18:20
  Speaker 4: jobs and getting rid of people and saying we're going
• 18:22
  Speaker 4: to use AI for this stuff. And so we're in
• 18:25
  Speaker 4: a real strange situation right now. And I think this
• 18:28
  Speaker 4: is just the transitionary period between making it from where
• 18:33
  Speaker 4: we are now kind of like discovering AI and the
• 18:37
  Speaker 4: whole world's kind of realizing what it is, to where
• 18:40
  Speaker 4: we actually you know, become consumers of it and and
• 18:45
  Speaker 4: actually you know, kind of give way to it. And
• 18:48
  Speaker 4: and we're in a tough spot right now. And China
• 18:50
  Speaker 4: knows that it's trying to accelerate, it doesn't face the
• 18:52
  Speaker 4: same kind of backlash from its people because of its
• 18:55
  Speaker 4: political system. So America is a little more compromise and
• 18:58
  Speaker 4: vulnerable here to lose this race. Well, anyway, if if
• 19:04
  Speaker 4: in the near term we see that anti AI sentiment
• 19:10
  Speaker 4: rise and rise and rise. That could that could harm
• 19:13
  Speaker 4: copper because data centers require copper. It could hurt silver
• 19:19
  Speaker 4: because silver is going into these data centers. It could
• 19:21
  Speaker 4: hurt uranium because uranium is one of the big power
• 19:25
  Speaker 4: sources that these guys want to use for their data centers.
• 19:29
  Speaker 4: And it could hurt these big tech stocks because they
• 19:31
  Speaker 4: have kind of built into their you know, their plans
• 19:33
  Speaker 4: that we're going to have enough power to to generate
• 19:37
  Speaker 4: enough power supply to take care of all this demand.
• 19:41
  Speaker 4: And so it's kind of a precarious time right now. Silver,
• 19:46
  Speaker 4: as you can see, is trying to make up its mind.
• 19:48
  Speaker 4: It's been grinding sideways for a bit. And then of
• 19:53
  Speaker 4: course oil has been stealing the show. What's interesting about
• 19:57
  Speaker 4: oil here is typically oil will rally toward the later
• 20:01
  Speaker 4: phase of a market cycle. And usually I always refer
• 20:06
  Speaker 4: to oil or the energy sector is kind of like
• 20:08
  Speaker 4: the bull killer. I mean, usually what happens is everybody's
• 20:11
  Speaker 4: having a party, Tech is going up, financials are going up,
• 20:14
  Speaker 4: and then here comes energy, and energy gets its run,
• 20:18
  Speaker 4: and when it does, of course, it just destroy you know,
• 20:20
  Speaker 4: it raises all the input costs for everything, and so
• 20:24
  Speaker 4: then it starts to pressure that bull market. And what's
• 20:27
  Speaker 4: interesting is we've seen energy just dominate this year's price action,
• 20:32
  Speaker 4: I mean by a mile, but the market's still up
• 20:36
  Speaker 4: like it's not it's not getting as pressured. And I
• 20:39
  Speaker 4: go back to my thesis of this is really due
• 20:42
  Speaker 4: to some of the best earnings I've ever seen in
• 20:45
  Speaker 4: my life when it comes to big tech and consumer
• 20:50
  Speaker 4: I mean, the earnings are I mean just really something,
• 20:54
  Speaker 4: and so I think we have enough to support it.
• 20:57
  Speaker 4: But oil has just been the you know, it hasn't
• 21:00
  Speaker 4: played the role that many people think. And I think
• 21:02
  Speaker 4: a lot of times, I think a lot of people
• 21:04
  Speaker 4: bought into the idea that this war was just going
• 21:06
  Speaker 4: to last for a few weeks and so that maybe
• 21:08
  Speaker 4: maybe they think it's going to end soon. I don't
• 21:10
  Speaker 4: know what they're thinking, but if you listen to big
• 21:12
  Speaker 4: uh big brains on this topic, guys like Jeff Curry
• 21:16
  Speaker 4: over it. I know, he was a Golden Sacks for
• 21:18
  Speaker 4: a long time and maybe he's still their commodities head
• 21:21
  Speaker 4: commodity guy. He's like, look, you know, this oil thing
• 21:25
  Speaker 4: is going to get worse and worse and worse, and
• 21:27
  Speaker 4: so you know, the idea is is that it's going
• 21:30
  Speaker 4: to really begin to pressure things. We haven't really seen that.
• 21:33
  Speaker 4: We keep hearing that, but we're and we see it
• 21:36
  Speaker 4: at the gas bumps. We see certainly there's inflationary pressures,
• 21:39
  Speaker 4: but as far as it actually pushing the stock market
• 21:42
  Speaker 4: down and you know, dissuading investors from being you know,
• 21:46
  Speaker 4: you know in the market. You know, we haven't really
• 21:49
  Speaker 4: seen that quite yet. So there's just a brief overview.
• 21:52
  Speaker 4: I mean, that's kind of a long overview actually of
• 21:55
  Speaker 4: some things, but that kind of gives you an idea
• 21:57
  Speaker 4: of what I'm looking at.
• 21:58
  Speaker 3: Okay, So you know, I went to Martin Armstrong's World
• 22:01
  Speaker 3: Economic Conference in November and he said two two six
• 22:08
  Speaker 3: panic cycle year, and he nailed it. He said, starting
• 22:15
  Speaker 3: in March, volatility and volatility in metals, and he nailed
• 22:21
  Speaker 3: that to the day. My take on what's happening here
• 22:26
  Speaker 3: is Cuba is going to fall any day, just in
• 22:31
  Speaker 3: time for the mid terms. Now, a lot of this
• 22:36
  Speaker 3: is psychological for the nation as a whole. Cuba has
• 22:41
  Speaker 3: been a thorn in the side of the United States
• 22:43
  Speaker 3: for almost seventy years. You know, the Cuba fell two
• 22:48
  Speaker 3: years after I was born. I was two years old
• 22:51
  Speaker 3: when it fell. Cuba's falling, and this is going to
• 22:56
  Speaker 3: lead for Texas and Florida, but especially Florida is going
• 23:03
  Speaker 3: to be a humongous boom, huge because the way the
• 23:08
  Speaker 3: law is set up right now, Once Cuba falls, the
• 23:11
  Speaker 3: property claims of Americans, businesses and individuals who had their
• 23:17
  Speaker 3: property seized by the Cuban government, that's going to be settled.
• 23:22
  Speaker 3: And there's going to be tens, if not hundreds of
• 23:26
  Speaker 3: billions of dollars flowing from the United States into Cuba. Psychologically,
• 23:32
  Speaker 3: that is going to be a huge, huge boost for
• 23:37
  Speaker 3: the country. And you know, recessions start first in the
• 23:42
  Speaker 3: economy and then they go to the individual. In terms
• 23:46
  Speaker 3: of your mind, a depression is literally everybody is depressed,
• 23:51
  Speaker 3: and the economy is just the end result of it. Right,
• 23:54
  Speaker 3: So what we're seeing here is exactly, if I could
• 23:58
  Speaker 3: just summarize what you said exact, exactly the opposite of
• 24:01
  Speaker 3: what you'd expect to see. The market should be tanking.
• 24:04
  Speaker 3: We're in a war that seemingly has no end. You know,
• 24:09
  Speaker 3: We've got all these confrontations all over the world, and
• 24:13
  Speaker 3: yet the market keeps going up exactly the opposite of
• 24:18
  Speaker 3: what everyone thinks. You and I both know inflation, really
• 24:25
  Speaker 3: it has no place to go but up for the
• 24:27
  Speaker 3: reasons you outline the deficit oil prices. You know, when
• 24:32
  Speaker 3: oil breaks one hundred in the past, that like guaranteed
• 24:38
  Speaker 3: a pretty substantial recession. And yet and maybe that's happening
• 24:43
  Speaker 3: in Europe, but we don't see it here yet, at
• 24:46
  Speaker 3: least not based on the economic numbers. That doesn't mean
• 24:49
  Speaker 3: it won't happen, but my guess is it's not going to.
• 24:53
  Speaker 3: You know the old saying that economists have called two
• 24:57
  Speaker 3: out of the last five retactions, right right, pie that
• 25:01
  Speaker 3: the last two rather by that elact.
• 25:04
  Speaker 4: Like they're thirteen out of the last two or whatever.
• 25:06
  Speaker 3: Yeah, I forget something like that. And I'd been guilty
• 25:08
  Speaker 3: of that myself until I started really watching money flows.
• 25:13
  Speaker 2: And that's it.
• 25:13
  Speaker 3: Money is pouring into the US. You know, your concerns
• 25:17
  Speaker 3: about the data centers and the backlash. You know, there
• 25:22
  Speaker 3: was one that got nailed for taking thirty million gallons
• 25:26
  Speaker 3: of water a day and basically lowering the pressure someplace
• 25:31
  Speaker 3: in the Midwest.
• 25:32
  Speaker 2: I want to say it was in Ohio somewhere.
• 25:35
  Speaker 3: You know, like, there's definitely some unintended consequences of data
• 25:39
  Speaker 3: centers but I agree with you and that the government
• 25:43
  Speaker 3: is going to clear the uh basically grease the skids
• 25:49
  Speaker 3: for data centers. And Jerry, when did you ever see
• 25:53
  Speaker 3: a capital boom like what we're seeing here now? Physical boom.
• 26:00
  Speaker 3: It's one thing when you have a bunch of dot
• 26:01
  Speaker 3: coms and you got code monkeys, you know, isolated in
• 26:07
  Speaker 3: in cubicles banging out code. But we actually have something
• 26:11
  Speaker 3: physical here that's occurring. Obviously a lot of it is software,
• 26:15
  Speaker 3: don't get me wrong, But the physical manifestation are these
• 26:19
  Speaker 3: data centers, and it seems like I don't quite understand
• 26:23
  Speaker 3: why we just can't have enough of them. If you
• 26:27
  Speaker 3: can figure it out, I'd love to hear what you
• 26:29
  Speaker 3: think about that. But the AI is what's driving everything
• 26:33
  Speaker 3: productivity wise. You know, my daughter works for a very
• 26:39
  Speaker 3: substantial high tech company. I won't mention them, but you know,
• 26:43
  Speaker 3: one of the top three, and they just canned ten
• 26:47
  Speaker 3: percent of their workforce. Luckily she didn't get she wasn't
• 26:51
  Speaker 3: among the casualties, although she was ready to be. But
• 26:54
  Speaker 3: you know, that is a sign when big tech is
• 26:58
  Speaker 3: laying off these people. It's not that business is bad,
• 27:02
  Speaker 3: it's that business is so good. But they don't need
• 27:06
  Speaker 3: as many people to do it anymore.
• 27:10
  Speaker 4: Well, yeah, let's break that down. I mean, so the
• 27:14
  Speaker 4: data centers are very water intensive, they're very resource intensive,
• 27:18
  Speaker 4: power intensive. Of course, part of the reason why we're why,
• 27:23
  Speaker 4: part of the reason why we're struggling and why this
• 27:26
  Speaker 4: is a struggle is because the United States has a
• 27:29
  Speaker 4: policy that prefers certain energy sources. It's not unusual for
• 27:37
  Speaker 4: a country to do that, but what it's done, I
• 27:39
  Speaker 4: think is that it's kind of shot itself in the foot.
• 27:43
  Speaker 4: It certainly has caused a good, strong rebound in fossil fuels.
• 27:52
  Speaker 4: The problem is is that we need all forms of energy,
• 27:55
  Speaker 4: and I think the data center issue is exposing that. Okay,
• 27:59
  Speaker 4: so many people are opposed to solar. They say, well,
• 28:02
  Speaker 4: we don't want solar because it can't you know, we
• 28:04
  Speaker 4: can't have solar because if there's this cloudy day then
• 28:06
  Speaker 4: it doesn't work, okay. Or they'll say we don't want
• 28:08
  Speaker 4: geothermal because of this, or we don't want wind because
• 28:10
  Speaker 4: it's unattracted. And then and then we we can't dig
• 28:16
  Speaker 4: enough coal out of the ground to take care of
• 28:17
  Speaker 4: these data centers, or we don't have enough resources or
• 28:20
  Speaker 4: enough power so we're like, oh, maybe we should do
• 28:22
  Speaker 4: some uranium. Well that takes forever, right, So the point
• 28:25
  Speaker 4: is is that instead of having a all power supply
• 28:29
  Speaker 4: on deck, we want all sources of energy at all times,
• 28:32
  Speaker 4: like we want to improve and make them better and
• 28:34
  Speaker 4: make them more efficient. And we're not just going to
• 28:36
  Speaker 4: prefer big oil because they donated to our campaign. What
• 28:40
  Speaker 4: we want is we want all forms of power, and
• 28:42
  Speaker 4: we want as much of them as we can possibly get.
• 28:45
  Speaker 4: And whenever I say that, what I'm referring to is China.
• 28:48
  Speaker 4: So China has said, guess what we want all solar,
• 28:52
  Speaker 4: we want all wind, we want all you know, coal,
• 28:55
  Speaker 4: we want all I mean, they don't care what the
• 28:57
  Speaker 4: hell it is. They want the power. They need the power.
• 29:00
  Speaker 4: They got a bunch of people, they got a bunch
• 29:01
  Speaker 4: of stuff to do. Over here, we're playing we're playing
• 29:03
  Speaker 4: politics with it. We don't want to let the solar
• 29:05
  Speaker 4: guys get any money, we don't want the renewable guys
• 29:08
  Speaker 4: getting any money. But we don't mind giving big oil
• 29:10
  Speaker 4: bunch of you know money. And so the point is
• 29:13
  Speaker 4: we're playing games. And now you know, we've been kind
• 29:15
  Speaker 4: of exposed because the data centers, these big tech CEOs
• 29:19
  Speaker 4: are freaking out. They're like, we're going to freaking need
• 29:21
  Speaker 4: to open three mile Island. You know, in twenty twenty six.
• 29:25
  Speaker 4: What in the world, Where where has our investment and
• 29:28
  Speaker 4: energy been. Meanwhile, China has been, you know, been doing
• 29:31
  Speaker 4: it and so yeah, so we've been playing games and
• 29:34
  Speaker 4: playing foot seats with this stuff, and now it's kind
• 29:36
  Speaker 4: of getting exposed. So now they're starting to fast track
• 29:40
  Speaker 4: uranium development. We're seeing a little bit of lessening in
• 29:44
  Speaker 4: terms of renewable the resistance we started to see, you know,
• 29:47
  Speaker 4: people start to say, oh, we like solar now, and
• 29:49
  Speaker 4: so like they have to like solar. We don't have
• 29:51
  Speaker 4: a choice. We have to accept all forms of energy
• 29:54
  Speaker 4: at this point, we don't. We can't. We can't just
• 29:56
  Speaker 4: play political games with this stuff. And so there's that.
• 30:00
  Speaker 4: The second thing is like with the layoffs around the
• 30:02
  Speaker 4: data centers or around the big tech and as they're
• 30:07
  Speaker 4: moving into AI, you know, I would say that maybe
• 30:11
  Speaker 4: over the course of the next eighteen to thirty six months.
• 30:16
  Speaker 4: This is just a prognostication. I'm probably going to be
• 30:19
  Speaker 4: off on this, but I'll just kind of give you
• 30:21
  Speaker 4: what I'm thinking. It just kind of gives you a
• 30:22
  Speaker 4: little window and what I'm thinking, I'm thinking over the
• 30:24
  Speaker 4: next eighteen to thirty six months that businesses will be
• 30:29
  Speaker 4: transformed in a way that totally we can't imagine, Like
• 30:33
  Speaker 4: we can't really imagine what it's going to be like,
• 30:35
  Speaker 4: but you realize that the AI to power, you can
• 30:38
  Speaker 4: think about how AI has helped your business. I can
• 30:40
  Speaker 4: think about how AI has helped my business. Well, that's
• 30:44
  Speaker 4: imagine that just everywhere in every city and every state,
• 30:47
  Speaker 4: in every community, everybody is seeing that, Wow, you know
• 30:51
  Speaker 4: all of these things that I used to have to
• 30:54
  Speaker 4: do that took time. And then basically what happened was
• 30:59
  Speaker 4: is you just up. If you're running a business, a
• 31:01
  Speaker 4: lot of the things that AI allows you to outsource,
• 31:04
  Speaker 4: you'll find out we're just maintenance things like you're just
• 31:07
  Speaker 4: maintaining the business. You're not really growing the business. You're
• 31:09
  Speaker 4: just really trying to maintain the business. Right, And so
• 31:12
  Speaker 4: what AI is doing and I think people are misreading this.
• 31:16
  Speaker 4: This is my take. I could be wrong, but I
• 31:18
  Speaker 4: think people might be misreading this. And the fact that
• 31:21
  Speaker 4: what I think AI is going to do is we're
• 31:23
  Speaker 4: going to have to go through a weird, vulnerable time
• 31:28
  Speaker 4: where we do have to get rid of people because
• 31:30
  Speaker 4: wait a minute, these maintenance things we don't need you
• 31:33
  Speaker 4: for anymore. We have to create a new role for
• 31:35
  Speaker 4: you because now we can literally just take care of
• 31:38
  Speaker 4: all this maintenance for our business with AI, you know,
• 31:41
  Speaker 4: agentic ai, and we can even do some of these
• 31:44
  Speaker 4: other things we didn't realize. And so now instead of
• 31:47
  Speaker 4: you just maintaining our business, employee, we're going to create
• 31:51
  Speaker 4: a new role where you're going to grow our business.
• 31:53
  Speaker 4: And so, in other words, what's going to happen is
• 31:55
  Speaker 4: is that we have companies now that are like in video,
• 31:58
  Speaker 4: you know, it's five point five five trillion dollars in value,
• 32:02
  Speaker 4: and I never never thought i'd even see a company
• 32:04
  Speaker 4: that size. And now I'm beginning to realize that trillions
• 32:09
  Speaker 4: are the new are the new billions exactly, And we're
• 32:12
  Speaker 4: actually going to be in a time where we're going
• 32:14
  Speaker 4: to see expanding growth and expanding you know, market caps
• 32:18
  Speaker 4: and all of this because companies will no longer be
• 32:21
  Speaker 4: forced to take all of their human resources and maintain anything. Instead,
• 32:26
  Speaker 4: they're going to be able to use a gentic ai
• 32:28
  Speaker 4: to maintain, so employees will be able to grow the
• 32:31
  Speaker 4: business and make it bigger, and make it more powerful,
• 32:34
  Speaker 4: make it more fish. So so I think what we're
• 32:36
  Speaker 4: going to see is that right now. Sure, if you're
• 32:38
  Speaker 4: just getting out of college and you're trying to find
• 32:40
  Speaker 4: a job and you don't know AI, it might feel strange.
• 32:43
  Speaker 4: Of course it's weird, but just like just like through
• 32:46
  Speaker 4: every other innovation in the past, we saw railroads and
• 32:49
  Speaker 4: we said, oh, okay, well I guess this guy is
• 32:51
  Speaker 4: going to go out of business. Or we saw the
• 32:52
  Speaker 4: model T and say, well, I guess you know, horse
• 32:54
  Speaker 4: professionals are going to go out of business. Well, yeah,
• 32:56
  Speaker 4: maybe they will, but we're going to need car professionals.
• 32:59
  Speaker 4: You know, well, the internet's going out of business, so
• 33:02
  Speaker 4: I guess you know this or that will be going
• 33:03
  Speaker 4: well maybe so, but now we need internet profession So
• 33:06
  Speaker 4: in other words, we're in a place where I think
• 33:09
  Speaker 4: we're going to get to where you know, we're going
• 33:13
  Speaker 4: to have plenty of jobs, it's just they're going to
• 33:16
  Speaker 4: be different titles. And I think right now it's just
• 33:19
  Speaker 4: we feel the fear of the change, and that's driving
• 33:22
  Speaker 4: many of our decisions. But I think once we get
• 33:25
  Speaker 4: past that change, it could actually be a very bright world.
• 33:30
  Speaker 4: And so I'm very overall optimistic on what it could
• 33:33
  Speaker 4: mean for us.
• 33:34
  Speaker 3: You know, hey, I am like totally with you. The
• 33:39
  Speaker 3: world has no idea Like, hey, I drive a Tesla.
• 33:44
  Speaker 3: I've got the FSD.
• 33:45
  Speaker 2: All right.
• 33:47
  Speaker 3: The latest stats is that car is driving ninety six
• 33:51
  Speaker 3: percent of the time. I'm going to make an admission
• 33:54
  Speaker 3: here that probably get me locked up. I was going
• 33:57
  Speaker 3: from my house in northern Palm Beach County down to
• 34:02
  Speaker 3: Delay and we were the car is stuck in traffic,
• 34:05
  Speaker 3: and you know, I wear like heavy mirrored sunglasses so
• 34:09
  Speaker 3: the camera cannot see my eyes. I fell asleep behind
• 34:14
  Speaker 3: the wheel of the car for ten minutes, not totally asleep,
• 34:19
  Speaker 3: but literally not functioning asleep, kind of in the twilight zone.
• 34:25
  Speaker 3: And I only woke up when the car changed lanes
• 34:28
  Speaker 3: because we were at the exit.
• 34:30
  Speaker 2: All right, now, you're not.
• 34:31
  Speaker 3: Supposed to do this, no, but I know I've been.
• 34:34
  Speaker 3: I don't do this at home, children, I've driven, Yeah,
• 34:37
  Speaker 3: do not do this. No, I've driven thirteen thousand miles
• 34:42
  Speaker 3: on FSD, and like, I don't trust it with parking spaces.
• 34:46
  Speaker 3: I don't trust it in parking lots one hundred percent
• 34:49
  Speaker 3: mostly but not a hundred. I don't always trust it
• 34:53
  Speaker 3: making left turns into oncoming traffic, but what it's in
• 34:57
  Speaker 3: a lane on the highway, drives better than me.
• 35:01
  Speaker 2: Oh, and it done.
• 35:03
  Speaker 4: And how long have you been driving? I mean, you've
• 35:05
  Speaker 4: been driving for a long time and you're you probably
• 35:07
  Speaker 4: know you're a good driver. I picked up a Tesla,
• 35:10
  Speaker 4: drove it from Kansas City down to Kansas City down
• 35:15
  Speaker 4: to uh northwest Arkansas and never touched the steering wheel.
• 35:19
  Speaker 4: I mean, it never touched the steering wheel. And I'm
• 35:21
  Speaker 4: with you. I don't think people understand it. I don't
• 35:25
  Speaker 4: think people they don't know that it's here that they
• 35:27
  Speaker 4: don't know. Like literally, this car is a robot that
• 35:31
  Speaker 4: has nine cameras on it, that is so much smarter
• 35:35
  Speaker 4: than so much smarter than me. And when I see
• 35:38
  Speaker 4: it drive, I think, wow, that's exactly what I would do,
• 35:41
  Speaker 4: and that it did a little bit better than I
• 35:42
  Speaker 4: would have done it. So yeah, I see that. I'm
• 35:45
  Speaker 4: the same way with you. I don't mind it parking.
• 35:47
  Speaker 4: In fact, it did a great parallel park the other day,
• 35:51
  Speaker 4: working great, amazing and but yeah, I'm with you. Normally,
• 35:55
  Speaker 4: what I'll do is I'll leave it in self drive
• 35:57
  Speaker 4: full self driving until I get to my destination that
• 35:59
  Speaker 4: I take off in park or do what I want
• 36:01
  Speaker 4: to do, you know, because sometimes it takes you weird places.
• 36:03
  Speaker 4: But no, no, no, people don't know if you haven't
• 36:06
  Speaker 4: had that experience, if you haven't sat in the we
• 36:08
  Speaker 4: all take friends out and just let them see blows
• 36:11
  Speaker 4: their mind, which shows.
• 36:12
  Speaker 3: You how early we are.
• 36:13
  Speaker 4: It's so early. People don't People don't know they can
• 36:16
  Speaker 4: buy a robot that will drive them around. And when
• 36:18
  Speaker 4: you've been driving, like you or me for you know, decades,
• 36:21
  Speaker 4: you're like yours done.
• 36:22
  Speaker 2: Drive there you.
• 36:24
  Speaker 4: Go say I'm your fifty one. You say, I am
• 36:26
  Speaker 4: happy to let somebody else drive. Where's the show for?
• 36:29
  Speaker 2: You know?
• 36:29
  Speaker 4: I'm happy. So many people don't know that it's there.
• 36:33
  Speaker 4: And the car. I think the car costs me all
• 36:38
  Speaker 4: in around fifty something that fifty five, I ever get
• 36:41
  Speaker 4: what it was fifty three they're paying. Yeah, that's what
• 36:45
  Speaker 4: they're paying for cars today without this technology. So and
• 36:48
  Speaker 4: so to me, yeah, I think that's Uh. Tesla's got
• 36:52
  Speaker 4: a huge advantage there.
• 36:53
  Speaker 2: They're way ahead.
• 36:54
  Speaker 4: They'll be like ten billion miles now of full self.
• 36:56
  Speaker 2: Oh yeah, they got down, go ahead.
• 37:00
  Speaker 3: The other thing is like when we would buy cars,
• 37:02
  Speaker 3: and I've owned about sixty of them since I started driving,
• 37:07
  Speaker 3: about sixty cars. You know, as a car person, I'm
• 37:10
  Speaker 3: not anymore because I look at a Bentley, I look
• 37:13
  Speaker 3: at a Porsche, and it's an inferior product to my
• 37:18
  Speaker 3: fifty thousand dollars Tesla. These supercars set no kid a supercar.
• 37:22
  Speaker 3: But the amazing thing is that the day from the
• 37:27
  Speaker 3: day you bought that car, your Tesla, to now, it's
• 37:31
  Speaker 3: gotten better. And the good old days you bought an
• 37:35
  Speaker 3: internal combustion engine Richard, it's a Model three Performance twenty
• 37:40
  Speaker 3: twenty four and that thing moves, let me tell you,
• 37:43
  Speaker 3: it's gut wrench. But in the good old days you
• 37:46
  Speaker 3: bought an ice car. The best day of that car
• 37:48
  Speaker 3: is life was the day you drove it out of
• 37:50
  Speaker 3: the showroom, and then it was entropy. From that moment on,
• 37:55
  Speaker 3: it was deterioration. This car is better, substantially better than
• 38:00
  Speaker 3: the day I got it, not as witch. But you know,
• 38:04
  Speaker 3: we're not going to be a nation of drivers anymore.
• 38:07
  Speaker 3: And I people don't understand this. They really got to
• 38:11
  Speaker 3: understand that this is just AI.
• 38:14
  Speaker 2: And then you know.
• 38:15
  Speaker 3: You got the AI in your car, so you tell
• 38:17
  Speaker 3: it to hey, I want to make five stops, and
• 38:20
  Speaker 3: it programs it and the car makes five stops, and.
• 38:26
  Speaker 4: Then and then, and then you're driving around and letting
• 38:28
  Speaker 4: it drive you. And then you can pull up Grock
• 38:30
  Speaker 4: and say, hey, Grock, teach me something you know. So,
• 38:32
  Speaker 4: in other words, it's you can turn, you can turn
• 38:34
  Speaker 4: to commute into something that's very valuable practice.
• 38:37
  Speaker 3: Spanish, Well, I no show would be complete without me
• 38:41
  Speaker 3: plugging my book here America's great parking nice cover, nice
• 38:47
  Speaker 3: book cover.
• 38:48
  Speaker 2: You like that, You get the idea.
• 38:50
  Speaker 3: Every fricking parking sign in South Florida that I have
• 38:54
  Speaker 3: personally analyzed and now I'm putting on my lawyers at
• 38:58
  Speaker 3: violates the federal standards, and every state has to adopt
• 39:02
  Speaker 3: those federal standards. Every parking sign and the apps, they're
• 39:08
  Speaker 3: all harvesting data, minor data, geolocation data, and miners are
• 39:14
  Speaker 3: allowed to just download the app even though you're fifteen, sixteen,
• 39:18
  Speaker 3: seventeen years old. You don't have the capacity to enter
• 39:21
  Speaker 3: into a contract wave privacy rights, consent to data sharing,
• 39:28
  Speaker 3: consent to arbitration. No, most adults don't even have the capacity.
• 39:32
  Speaker 3: But a minor by law doesn't. So I'm in federal court.
• 39:37
  Speaker 3: I'm suing them. I've got thirteen administrative petitions in the
• 39:43
  Speaker 3: Florida Department of Transportation, the Florida CFO, and it's starting
• 39:49
  Speaker 3: to get interesting in our judge in the case is
• 39:53
  Speaker 3: Judge Eileen Cannon, the most famous judge who's not sitting
• 39:58
  Speaker 3: on the Supreme Court you could believe, and that right, Yeah,
• 40:02
  Speaker 3: it's doing six cities and towns in Florida and three
• 40:06
  Speaker 3: app companies. Anyway, I just want to throw that in.
• 40:10
  Speaker 3: Buy the book, help finance the lawsuit and everything else
• 40:13
  Speaker 3: I'm doing. But Jerry, like, we're in for something that
• 40:17
  Speaker 3: free quarters Maybe I would say as much as ninety
• 40:21
  Speaker 3: plus percent of humanity is totally unprepared for it. You
• 40:27
  Speaker 3: and I are prepared, but we're not really prepared. We
• 40:31
  Speaker 3: just see what things are going to be so much different,
• 40:35
  Speaker 3: but we don't really we aren't really prepared. We're just
• 40:39
  Speaker 3: early adopters. But the fact is, like you said, another
• 40:44
  Speaker 3: eighteen months, you will not recognize the world. Imagine everybody's
• 40:48
  Speaker 3: driving a self driving car. You don't need traffic lights anymore,
• 40:53
  Speaker 3: you don't need pavement markings, you don't need signs you
• 41:00
  Speaker 3: you don't have drivers. I mean, this is happening now,
• 41:05
  Speaker 3: and really humanity is completely unprepared, and I think a
• 41:09
  Speaker 3: lot of the dissatisfaction and a lot of the wars
• 41:12
  Speaker 3: and everything else is emanating from that mass uncertainty and
• 41:20
  Speaker 3: fear of the future.
• 41:23
  Speaker 2: You know, like oil, oil, Like we grew.
• 41:28
  Speaker 3: Up the oil industry, biggest industry in the world other
• 41:31
  Speaker 3: than the US government and its debt machine and war machine.
• 41:35
  Speaker 3: But oil like that is actually declining once the evs
• 41:41
  Speaker 3: start taking up huge chunks of the car market, which
• 41:46
  Speaker 3: they will, whether anyone wants to believe it or not,
• 41:49
  Speaker 3: the oil industry is dramatically changing. That's real reason why
• 41:53
  Speaker 3: they're closing refineries in California. Besides all the environmental stuff,
• 41:58
  Speaker 3: the marginal production, which is the most profitable, is what's
• 42:03
  Speaker 3: being eradicated now.
• 42:05
  Speaker 4: So and that's that's also that's also why the federal
• 42:09
  Speaker 4: government has been trying to stifle competition in the EV
• 42:12
  Speaker 4: space because they know that it's the United States has
• 42:16
  Speaker 4: finally climbed to the top of the heap on the
• 42:18
  Speaker 4: oil market. You know, it's like, well, you know, that's
• 42:21
  Speaker 4: great that you're there, but you know, but like you're
• 42:23
  Speaker 4: pointing out, it's we're on the decline. Now we're going
• 42:25
  Speaker 4: to be moving towards a world that's going to be
• 42:27
  Speaker 4: more diversified.
• 42:29
  Speaker 2: Yeah.
• 42:29
  Speaker 3: So, hey, well, I appreciate you coming on. Make sure everybody,
• 42:33
  Speaker 3: all of you out there, if you've got any questions,
• 42:36
  Speaker 3: pop them up now. We had like a lot of
• 42:41
  Speaker 3: a lot of feedback on the in the chat here.
• 42:44
  Speaker 3: We had over thirty people, thirty five people on the
• 42:47
  Speaker 3: chat at one point. So I really enjoy these live
• 42:52
  Speaker 3: streams when we get these, you know, topics that people
• 42:57
  Speaker 3: really really sink their teeth into. If you got any
• 43:03
  Speaker 3: stories about AI and here that clearly cited says analogies
• 43:09
  Speaker 3: of past disruptors like trains, cars, et cetera. Are not relevant,
• 43:14
  Speaker 3: like comparing Little League to Major because this is total change,
• 43:20
  Speaker 3: like total war, pathetic taxpayers funnel the money for the
• 43:24
  Speaker 3: ultimate human destruction. That's the downside, I mean. But on
• 43:30
  Speaker 3: the other side, it's like a large portion of humanity
• 43:33
  Speaker 3: hates their jobs, Jerry, right, Jerry, they do. They hate
• 43:37
  Speaker 3: getting up. Fortunately, I haven't had too many periods like
• 43:42
  Speaker 3: that in my life, and I don't think you've had
• 43:43
  Speaker 3: many in yours, either.
• 43:45
  Speaker 2: But we're the minority.
• 43:47
  Speaker 3: Is we get gratification, satisfaction besides.
• 43:51
  Speaker 2: Income from our work.
• 43:52
  Speaker 3: But so many of you out there are like hate
• 43:55
  Speaker 3: getting up and you know, dread the next day.
• 43:59
  Speaker 2: And that's a good thing either.
• 44:01
  Speaker 3: So if you're freed from that drudgery and that negativity
• 44:07
  Speaker 3: in your life, maybe you can find something that's going
• 44:09
  Speaker 3: to give you more meaning.
• 44:11
  Speaker 2: And yeah, so.
• 44:15
  Speaker 3: Here this one that's just funny, Trader and said so true.
• 44:19
  Speaker 3: But also we are working for some strange energy entity
• 44:24
  Speaker 3: being it's not us. So that's the ultimate conspiracy theory there.
• 44:31
  Speaker 3: And maybe it's not a theory at all. But we
• 44:33
  Speaker 3: appreciate all of you out there. If you got in
• 44:36
  Speaker 3: late replay, I'll get posted on the substack on the site.
• 44:40
  Speaker 3: Jerry Man, it's always good to catch up with you
• 44:43
  Speaker 3: and appreciate you coming on. And hey, follow the Money
• 44:48
  Speaker 3: dot com, Financial Survival Network dot Comcerrie LUTs dot com.
• 44:52
  Speaker 3: Buy my books. I've done six. I will admit they
• 44:56
  Speaker 3: were AI augmented but not written by A. I did
• 45:01
  Speaker 3: six books in the past year.
• 45:02
  Speaker 4: Jerry.
• 45:03
  Speaker 2: That's incredible.
• 45:04
  Speaker 4: Yeah, and speaking of AI, right, it's empowering us.
• 45:09
  Speaker 3: Yeah, totally, totally. I've never been more productive in my life. Lawsuits,
• 45:14
  Speaker 3: regulatory petitions, books. I've actually got a new app coming
• 45:20
  Speaker 3: out that helps you learn Spanish or any language, or
• 45:23
  Speaker 3: if you're learning English, way more effective than anything else
• 45:27
  Speaker 3: out there. Another one for the real estate exams. So hey,
• 45:32
  Speaker 3: we appreciate all of you out there. Appreciate you, Jerry.
• 45:35
  Speaker 3: We will talk to you again real soon. Good to
• 45:37
  Speaker 3: see you, my friend.
• 45:37
  Speaker 1: Take care, Thanks for listening to carry Lets's Financial Survival Network,
• 45:42
  Speaker 1: your solution to today's trying times. For the latest, go
• 45:46
  Speaker 1: to Financial Survivalnetwork dot com. Financial Survival Network now more
• 45:52
  Speaker 1: than ever,