Latest / Financial Survival Network / The Candidates Economic Agenda: Analyzing the Platform Gaps - David Stryzewski #6137

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The Candidates Economic Agenda: Analyzing the Platform Gaps - David Stryzewski #6137 · Financial Survival Network

• 0:00
  Speaker 1: You know, a statistical air would be like two or
• 0:02
  Speaker 1: three percent. This is more like missing it by twenty
• 0:05
  Speaker 1: five percent. In my opinion, I think that that's fraudulent
• 0:09
  Speaker 1: given the fact that we are in an election year
• 0:12
  Speaker 1: and we find ourselves having rallied to new all time
• 0:16
  Speaker 1: highs as a result of you know, these false reads
• 0:21
  Speaker 1: that we've been consistently getting from the government numbers here,
• 0:25
  Speaker 1: so the only thing consistent about them is revisions that follow.
• 0:29
  Speaker 2: You are listening to Carrie.
• 0:30
  Speaker 3: Let'sa's Financial Survival Network where you get valuable information you
• 0:34
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• 0:39
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• 0:43
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• 0:56
  Speaker 4: Welcome you are listening to and watching the Financial Survivor Network.
• 1:00
  Speaker 4: I'm your host, Carrie Lutz. Well, hey, we got some
• 1:04
  Speaker 4: rate cuts coming because it seems like they made a
• 1:07
  Speaker 4: little mistake at the Bureau of Labor Statistics and they're
• 1:12
  Speaker 4: only off by eight hundred and eighteen thousand jobs. You know,
• 1:16
  Speaker 4: the more cynical among us, David would say that they
• 1:20
  Speaker 4: were patting the job numbers, and the less cynecal would say,
• 1:26
  Speaker 4: oh gee, stuff happens, right.
• 1:29
  Speaker 1: Yeah, Well, you know, a statistical air would be like
• 1:32
  Speaker 1: two or three percent. This is more like missing it
• 1:34
  Speaker 1: by twenty five percent. In my opinion, I think that
• 1:38
  Speaker 1: that's fraudulent, given the fact that we are in an
• 1:41
  Speaker 1: election year and we find ourselves having rallied to new
• 1:46
  Speaker 1: all time highs as a result of you know, these
• 1:50
  Speaker 1: false reads that we've been consistently getting from the government
• 1:56
  Speaker 1: numbers here, So the only thing consistent about them is
• 1:58
  Speaker 1: revisions that.
• 1:59
  Speaker 2: Follow Why would they do such a thing.
• 2:03
  Speaker 1: Well, of course, you know, we are in a in
• 2:06
  Speaker 1: a very important year and as you look at elections
• 2:11
  Speaker 1: and everything else. Uh, they they're obviously trying to keep
• 2:14
  Speaker 1: things as peaceful as possible.
• 2:16
  Speaker 2: Uh.
• 2:17
  Speaker 1: And that includes Jerome Pewell not even talking to Congress
• 2:19
  Speaker 1: about their print and spend issues. So you know, we're
• 2:22
  Speaker 1: still let Jerry's out on that one, I.
• 2:24
  Speaker 4: Guess, And some insider leaked to something or other that
• 2:28
  Speaker 4: uh that Powell uh hates Trump and wants to wants well,
• 2:35
  Speaker 4: wanted to see Biden get re elected.
• 2:37
  Speaker 5: And then uh, now I guess he's all in for Kamala. Right, Yeah,
• 2:43
  Speaker 5: I guess that's the uh, that's the that's the narrative
• 2:46
  Speaker 5: going around right now, you know. And it's such a
• 2:50
  Speaker 5: challenging thing because of course the FED Commissioner supposed to
• 2:53
  Speaker 5: be politically neutral, meaning that they're not supposed to be
• 2:57
  Speaker 5: doing things for those who are getting elect did what
• 3:01
  Speaker 5: he has misstated though, and I think it's important to
• 3:04
  Speaker 5: draw this emphasis, is that he's misstated that him not
• 3:08
  Speaker 5: talking to Congress is being a political Well, actually, you're
• 3:12
  Speaker 5: supposed to talk to Congress, mister Powell. That is your
• 3:14
  Speaker 5: job to.
• 3:15
  Speaker 1: Let them know that your economics are being messed up
• 3:18
  Speaker 1: by their economic policies and the print and spend and
• 3:21
  Speaker 1: everything that's going on. Milton Freeman showed us that it
• 3:23
  Speaker 1: is literally the cause of inflation is this print and
• 3:26
  Speaker 1: spend politics. So part of what I want to share
• 3:29
  Speaker 1: with you here today is that I do not think
• 3:31
  Speaker 1: inflations under control.
• 3:32
  Speaker 2: I think it's going to be going in checked out
• 3:33
  Speaker 2: of control.
• 3:34
  Speaker 1: And this next Fed the rate cut is about to
• 3:37
  Speaker 1: just spiral things in a big way.
• 3:39
  Speaker 4: All right, So how much are they going to cut,
• 3:42
  Speaker 4: when are they going to cut? And how good is
• 3:45
  Speaker 4: that for the stock market? Because that's all they care about.
• 3:49
  Speaker 1: Nailed it well first addressing when are they going to cut?
• 3:52
  Speaker 1: How much are they going to cut? The big thing
• 3:54
  Speaker 1: that the set has been concerned about is rate cuts,
• 3:57
  Speaker 1: and the reason for that is that in the late
• 4:00
  Speaker 1: seventies they cut too early and this led to you know,
• 4:03
  Speaker 1: we saw the recession and then inflation came back, and
• 4:06
  Speaker 1: then Arthur Burns had to show up and really just
• 4:09
  Speaker 1: had to stomp that thing down. So I think about
• 4:11
  Speaker 1: inflation kind of like as a as a fire. Okay,
• 4:14
  Speaker 1: right now, we've got smoldering ashes. But you know, you
• 4:17
  Speaker 1: and I could be camping, go to sleep, and then
• 4:20
  Speaker 1: wake up in the morning, start kicking around some of
• 4:21
  Speaker 1: those those ashes, and put some new timber on there.
• 4:24
  Speaker 1: It's going to light right back up again. Inflation is
• 4:27
  Speaker 1: a smoldering thing. Arthur Burns had to stomp this thing out.
• 4:31
  Speaker 1: Jerome pal has not stomped this thing out. He has
• 4:34
  Speaker 1: not gone to extreme levels. And in fact, the data
• 4:37
  Speaker 1: is even leading us to say that things are getting
• 4:39
  Speaker 1: a lot weaker right now, which is not really a
• 4:41
  Speaker 1: great way to actually be cutting.
• 4:43
  Speaker 2: So how much will they be cutting?
• 4:45
  Speaker 1: I think that the FED has to stay higher for longer,
• 4:48
  Speaker 1: and so I think that they're not going to be
• 4:51
  Speaker 1: cutting more than twenty five basis points. I mean, you
• 4:54
  Speaker 1: might see a fifty here right off the bat or
• 4:57
  Speaker 1: at a point in time where things where the data
• 4:59
  Speaker 1: gets work. But a couple things to understand with this,
• 5:02
  Speaker 1: and that is number one, when they cut, this is
• 5:05
  Speaker 1: actually going.
• 5:06
  Speaker 2: To make the US dollar weaker.
• 5:08
  Speaker 1: Okay, and so if we're talking about inflation, that's an
• 5:10
  Speaker 1: inflationary idea. Why because it's going to take more US
• 5:13
  Speaker 1: dollars to buy the same amount of goods and services,
• 5:17
  Speaker 1: et cetera as.
• 5:17
  Speaker 2: We did before.
• 5:19
  Speaker 1: And so and so this is a really important point
• 5:21
  Speaker 1: to make because you know, really when when when we
• 5:23
  Speaker 1: started hiking rate, that made the US dollar twenty five
• 5:27
  Speaker 1: percent stronger than where it was before. That's actually a
• 5:30
  Speaker 1: big reason why we went from nine percent inflation down
• 5:33
  Speaker 1: to the lower places where we are today. It's because
• 5:35
  Speaker 1: the US dollar got stronger. We're about to do the
• 5:38
  Speaker 1: exact opposite thing to the dollar. As my first point
• 5:41
  Speaker 1: here in noting that.
• 5:43
  Speaker 4: Yeah, interestingly enough, you know the dollar has been getting weaker.
• 5:49
  Speaker 4: I haven't looked at it today, but I will look
• 5:51
  Speaker 4: at it now. It was down to right around one
• 5:53
  Speaker 4: hundred yesterday. That was up from one eight and you know,
• 5:57
  Speaker 4: up from the teens last year. Now, according to a
• 6:01
  Speaker 4: psycho analyst guy who is a regular guest on the show,
• 6:06
  Speaker 4: and you can take this for what it's worth, he
• 6:09
  Speaker 4: says that a weaker dollar generally portends a Republican being elected,
• 6:15
  Speaker 4: and a stronger dollar portends a Democrat being elected.
• 6:20
  Speaker 1: What do you think about that, Well, I think politically speaking,
• 6:23
  Speaker 1: the Republican Party is the party at least right now
• 6:27
  Speaker 1: that is for sure coming up with ideas about how
• 6:30
  Speaker 1: to get us out of this, you know. So one
• 6:32
  Speaker 1: of the things that we need to understand is that
• 6:34
  Speaker 1: how do we get out of it is going to
• 6:35
  Speaker 1: be supply side economics. AI is going to be really
• 6:39
  Speaker 1: low cost supply side economics, but at the cost of
• 6:42
  Speaker 1: everyone else's job or many jobs anyway, millions at the
• 6:46
  Speaker 1: same time. So when when you talk about deregulation or
• 6:49
  Speaker 1: rest less regulation, when you talk about you know, getting
• 6:52
  Speaker 1: a more balanced type of a system and approach different
• 6:56
  Speaker 1: stimulative type of policy, you know, those are the key
• 6:58
  Speaker 1: things here. So the Demots are ultimately looking at raising
• 7:01
  Speaker 1: taxes and buying boats right now, and that is a
• 7:06
  Speaker 1: crazy crazy platform to me running on.
• 7:09
  Speaker 4: All right, So, speaking of AI, I just said, I'm
• 7:15
  Speaker 4: going to solve the budget problem. I'm going to have
• 7:18
  Speaker 4: chat GPT do a line by line analysis of the
• 7:21
  Speaker 4: twenty twenty five budget and cut out three point two
• 7:25
  Speaker 4: trillion dollars from the budget. And wow, the first thing
• 7:31
  Speaker 4: it did was they wanted to raise taxes. It didn't
• 7:34
  Speaker 4: care about cutting anything. So it sounds like reminiscent of
• 7:38
  Speaker 4: some of our members of Congress there So then I said,
• 7:42
  Speaker 4: under no circumstances can you raise taxes. It al must
• 7:46
  Speaker 4: come from spending. And you know it found three point
• 7:51
  Speaker 4: two trillion. I mean, listen to this, like defense reductions
• 7:54
  Speaker 4: eight hundred billion over the next decade, corporate welfare cuts
• 8:00
  Speaker 4: hundred billion, and you could do a lot more than that, really,
• 8:03
  Speaker 4: because it's three hundred and fifty billion a year. Healthcare
• 8:07
  Speaker 4: spending cuts seven hundred billion, And that's not cutting back
• 8:11
  Speaker 4: on anyone's healthcare somewhat. It's like cutting back on Medicare
• 8:16
  Speaker 4: advantage over payments. All right, it's one hundred and fifty billion,
• 8:21
  Speaker 4: Negotiating drug prices two hundred and fifty billion, Medicaid eligibility
• 8:27
  Speaker 4: reform two hundred billion, and preventive care programs, expanding them
• 8:33
  Speaker 4: like RFK Junior make America Healthy Again one hundred billion.
• 8:38
  Speaker 2: I think it could be far more than that. And
• 8:40
  Speaker 2: then getting rid of a.
• 8:42
  Speaker 4: Ten percent of the federal workforce, which no one would
• 8:44
  Speaker 4: even notice. One hundred and fifty billion, two hundred billion
• 8:48
  Speaker 4: agency consolidation. So anyway, we go on and on. They
• 8:52
  Speaker 4: want to raise the retirement aged seventy. I'm kind of
• 8:55
  Speaker 4: opposed to that, but I understand it's got to come someplace.
• 9:00
  Speaker 4: So I said, find at least one hundred agencies that
• 9:06
  Speaker 4: could be erased put out of business, you know, and
• 9:11
  Speaker 4: I got to find it now.
• 9:13
  Speaker 2: I wanted to get these are fascinating.
• 9:15
  Speaker 4: The F thirty five Joint Strike Fighter program. Okay, So
• 9:20
  Speaker 4: I mean, here's one guy sitting in his in his office,
• 9:24
  Speaker 4: and I did more to control the deficit with one
• 9:28
  Speaker 4: query than the Congress has done in the past twenty years.
• 9:31
  Speaker 1: Here, David, well, you know, it's it's not rocket science,
• 9:35
  Speaker 1: but I guess AI can figure it out about thirty
• 9:37
  Speaker 1: two seconds. Yeah, you know, here as far as at
• 9:40
  Speaker 1: least some ideas, and then that gets the discussion conversation going.
• 9:44
  Speaker 2: Here.
• 9:45
  Speaker 1: Yeah, you know, there's a lot of things that we
• 9:47
  Speaker 1: need to be figuring out. If you look at the
• 9:49
  Speaker 1: actual expenses for Medicare and Social Security, that's exceeding sixty
• 9:55
  Speaker 1: percent of the entire federal budget, the amount of money
• 9:58
  Speaker 1: that's coming in from AX receipts, and so we're just
• 10:02
  Speaker 1: at the pinnacle year right now. Twenty twenty four is
• 10:05
  Speaker 1: a year where the most baby boomers reach age sixty
• 10:08
  Speaker 1: five and enter into retirement. And so why is that important? Well,
• 10:12
  Speaker 1: the system's already expensive, it's already swelling, and we've got
• 10:15
  Speaker 1: the biggest group going in right now. It's like fourteen
• 10:18
  Speaker 1: four hundred a day right now. So you know, there's
• 10:23
  Speaker 1: definitely going to need to be some changes, and I
• 10:25
  Speaker 1: think that we need to encourage our political leaders to
• 10:28
  Speaker 1: have the conversations this is these are the things that
• 10:31
  Speaker 1: we actually want because our future depends on this. I mean,
• 10:34
  Speaker 1: I have five young kids that are you know, going
• 10:37
  Speaker 1: to be growing up, likely in a world very different
• 10:40
  Speaker 1: than the world that I knew growing up. Just given
• 10:44
  Speaker 1: the significance of deficit spending that's going on. I think
• 10:47
  Speaker 1: that we've added about twelve trillion dollars here in the
• 10:50
  Speaker 1: last four years, so you know, it took us two
• 10:52
  Speaker 1: hundred and thirty years to get in the first you know,
• 10:54
  Speaker 1: eleven trillion. We just put on twelve here in the
• 10:57
  Speaker 1: last four So this is a runaway time that.
• 11:00
  Speaker 2: I do not just stop in anytime.
• 11:02
  Speaker 4: Soone, all right, so listen to what we can get
• 11:04
  Speaker 4: rid of the Department of Education, Department of Energy, Department
• 11:09
  Speaker 4: of Commerce, and so then we won't have to worry
• 11:12
  Speaker 4: about those job numbers being askew because they're responsible for it.
• 11:17
  Speaker 4: The Department of Housing and Urban Development. Just give the
• 11:20
  Speaker 4: money to state governments and let them handle it. National
• 11:24
  Speaker 4: Endowments for the Arts, the Humanities Corporation for Public Broadcasting,
• 11:29
  Speaker 4: privatize it, xmbank, which is just corporate welfare. The Appalachian
• 11:36
  Speaker 4: Regional Commission. Listen to some of these, the Denali Commission,
• 11:40
  Speaker 4: the FCC, probably get rid of that. The Federal Maritime
• 11:45
  Speaker 4: Commission officed a thrift supervision, the US International Development Finance Corporate.
• 11:52
  Speaker 4: I mean it goes on and on here. Some of
• 11:54
  Speaker 4: these I didn't even know existed, Like yeah, it's just like, hey,
• 12:00
  Speaker 4: they're saying, get rid of the Bureau of Alcohol, Tobacco
• 12:03
  Speaker 4: and Firearms consolidated.
• 12:06
  Speaker 2: With the FBI.
• 12:08
  Speaker 4: I mean you know, it's it's craziness here, the Rural
• 12:12
  Speaker 4: Utilities Service, and then you know, I just it didn't
• 12:17
  Speaker 4: give the savings this time. The US Institute for Peace,
• 12:20
  Speaker 4: they're doing a really rotten job.
• 12:23
  Speaker 2: Let's get rid of them.
• 12:24
  Speaker 4: The Commission on International Religious Freedom, the US Chemical Safety Board,
• 12:29
  Speaker 4: the State Justice Institute, you know, all these insane company
• 12:36
  Speaker 4: agencies here that do absolutely nothing for us.
• 12:39
  Speaker 1: And yet you know what's amazing is there's more people
• 12:43
  Speaker 1: right now that are courting our congress members for you know,
• 12:47
  Speaker 1: these these these backdoor deals, this port barrel spending, all
• 12:52
  Speaker 1: these extra little things that are added to every single
• 12:54
  Speaker 1: bill essentially that's coming through, and we just get this
• 12:58
  Speaker 1: extremely bloated government. So, you know, I don't think it's
• 13:02
  Speaker 1: a bad idea for people to be asking questions like this.
• 13:05
  Speaker 1: In fact, I would say, if there's a silencing voice
• 13:07
  Speaker 1: that's trying to say, don't even talk about stuff like that,
• 13:10
  Speaker 1: we might actually think to ourselves, is this a voice
• 13:13
  Speaker 1: that's trying to control me? Are they actually trying to
• 13:15
  Speaker 1: consider give me to independently conductor? What's going on right now?
• 13:19
  Speaker 1: Are they just trying to get me to comply? So
• 13:21
  Speaker 1: that's a you know good little, good little exercise. It
• 13:26
  Speaker 1: kind of fun to see all the different things that
• 13:28
  Speaker 1: are going on there.
• 13:30
  Speaker 4: Here's what was zille. You never knew about the Office
• 13:32
  Speaker 4: of Navajo and Hope, Indian Relocation. They blow through fifteen
• 13:37
  Speaker 4: million a year. The Office of Federal Contract Compliance Programs
• 13:42
  Speaker 4: one hundred and five million. You know, Yeah, it just
• 13:46
  Speaker 4: goes on and on and on and on here. It's
• 13:50
  Speaker 4: unbelievable that all these agencies that really do absolutely nothing
• 13:56
  Speaker 4: right well.
• 13:57
  Speaker 1: Right, and so to your point, you know, all this
• 14:01
  Speaker 1: is inflationary. This costs the taxpayer money, right, and so
• 14:05
  Speaker 1: the taxpayers are here on the hook, and of course
• 14:07
  Speaker 1: they don't even stick to a normal budget. They blow
• 14:09
  Speaker 1: their budget easily every single year. No problem. By the way,
• 14:13
  Speaker 1: that is literally taxing us. It's just the tax of
• 14:16
  Speaker 1: least resistance because it's inflating our dollars. And we're going
• 14:20
  Speaker 1: to be finding ourselves in a very challenging time here
• 14:25
  Speaker 1: with those rate cuts that are going to be coming.
• 14:28
  Speaker 1: But just to kind of get back to these couple
• 14:30
  Speaker 1: of points, the second way that inflation happens with these
• 14:34
  Speaker 1: rate cuts is that, yes, it's going to have a
• 14:36
  Speaker 1: melt up in the prices of our stocks in our
• 14:39
  Speaker 1: real estate and so you get lower rates.
• 14:43
  Speaker 2: Of course, that's going to be better for tech stocks.
• 14:45
  Speaker 1: Through the roof, it's going to be better for real
• 14:48
  Speaker 1: estates already at all time eyes right now. And you know,
• 14:52
  Speaker 1: here's the deal, we're also cutting right now while we're
• 14:55
  Speaker 1: at all time eyes. Statistically, we have had a recession
• 14:58
  Speaker 1: one hundred percent of the time when we have specifically
• 15:01
  Speaker 1: done that. But this is going to cause the price
• 15:04
  Speaker 1: of everything to go high. Of course, that's inflationary. And
• 15:09
  Speaker 1: if you look at this melt up melt down concept,
• 15:12
  Speaker 1: Japan actually did this in the in the eighties, and
• 15:16
  Speaker 1: the Nike their their exchange actually didn't just hit a
• 15:19
  Speaker 1: high until you know, earlier this year. It was almost
• 15:21
  Speaker 1: forty years to get back up to a high. So
• 15:24
  Speaker 1: we might be finding ourselves in a melt up moment
• 15:27
  Speaker 1: that we may not get back to for potentially decades
• 15:31
  Speaker 1: of times as this goes on.
• 15:35
  Speaker 2: Yeah, you're right.
• 15:36
  Speaker 4: Talk about real estate, the housing, the builders, the home
• 15:42
  Speaker 4: builders have record highs, you know, right, all time record highs.
• 15:47
  Speaker 2: What does that tell you? It tells me.
• 15:50
  Speaker 1: That they're giving incentives for the new home that the
• 15:54
  Speaker 1: person that's selling their home that's already existed cannot get
• 15:58
  Speaker 1: and so you know, these these are timeframes right now
• 16:02
  Speaker 1: that numbers are not operating the same way as they
• 16:05
  Speaker 1: used to, and in fact, I think it's going to
• 16:07
  Speaker 1: continue to progress and get worse, because my point three
• 16:10
  Speaker 1: is that the Japanese carry trade is actually going to
• 16:13
  Speaker 1: be getting worse and it's going to be unwinding a
• 16:17
  Speaker 1: lot of the leverage globally that we've seen. So what
• 16:21
  Speaker 1: is the Japanese carry trade? Basically seven point thirty one?
• 16:24
  Speaker 1: Japan raise rates a quarter point. Now, that's nothing, that
• 16:27
  Speaker 1: was the smallest rays of them just did, but that
• 16:29
  Speaker 1: it's a deal for a society for twenty years that
• 16:33
  Speaker 1: hasn't raised really at all. And so what happened is
• 16:37
  Speaker 1: they had to come to the rescue. It's hundreds of
• 16:39
  Speaker 1: billions of dollars to stabilize their market. Well, what's going
• 16:42
  Speaker 1: to take place right now is that as the United
• 16:44
  Speaker 1: States is cutting rates, that's going to make our dollar weeker,
• 16:48
  Speaker 1: while Japan's raising rates that makes their dollars stronger, that
• 16:51
  Speaker 1: makes their carry trade worse, meaning the amount of money
• 16:54
  Speaker 1: that was borrowed does not go as far in the
• 16:57
  Speaker 1: thing that's now being leveraged against like US treasury, US stocks,
• 17:00
  Speaker 1: et cetera. So I expect a lot more volatility as
• 17:04
  Speaker 1: the year continues to to unfold because of people unwinding
• 17:08
  Speaker 1: these trades and the reality that this cutting FED is
• 17:12
  Speaker 1: going to make this far worse for Japan. And I
• 17:16
  Speaker 1: looked up a statistic this morning. There are four hundred
• 17:19
  Speaker 1: or sorry, four point five to two trillion dollars invested
• 17:23
  Speaker 1: by the Japanese people and this is these are not
• 17:26
  Speaker 1: not the government, and more than half of that is
• 17:29
  Speaker 1: by the people is in long dated debt, literally intra
• 17:34
  Speaker 1: sensitive debt that's going to potentially need to be unwound
• 17:38
  Speaker 1: as this carry trade continues to get worse because the
• 17:41
  Speaker 1: US dropping rates, I think that Japan could literally unwind
• 17:45
  Speaker 1: the entire global economy if we're not too careful here,
• 17:49
  Speaker 1: because we are literally all tethered together climbing this mountain.
• 17:52
  Speaker 1: If one falls, we got to put our ice pits
• 17:54
  Speaker 1: in and stop this thing from going backwards.
• 17:56
  Speaker 2: It's it's getting close, ay, you.
• 17:59
  Speaker 4: Know, the only kick the can down the road so
• 18:02
  Speaker 4: far until you want run out of road, right.
• 18:06
  Speaker 1: Exactly exactly. Speaking of running out of road, my fourth
• 18:11
  Speaker 1: point is is that you know, the world's now running
• 18:14
  Speaker 1: from federal treasuries in other words, IOUs on US dollars
• 18:19
  Speaker 1: to more safe, avent type of ideas right now. So
• 18:21
  Speaker 1: we're seeing a broadening in the market. We're seeing gold
• 18:24
  Speaker 1: obviously go above twenty five hundred stay above twenty five hundred.
• 18:27
  Speaker 1: Silver's made a massive move. I expect silver, by the way,
• 18:30
  Speaker 1: to continue to ride here and surpassed gold as a
• 18:35
  Speaker 1: finished year out. But the central Bank has big dilemmas
• 18:39
  Speaker 1: right now because you're trying to figure out how to
• 18:42
  Speaker 1: preserve value today with the day's money in order to
• 18:46
  Speaker 1: buy tomorrow's goods. And so what they're having to do
• 18:49
  Speaker 1: is buy gold and silver because that's the only thing
• 18:52
  Speaker 1: that's going to keep up its value relative to commodities
• 18:55
  Speaker 1: to electrify, etc.
• 18:56
  Speaker 4: You got it, and the coppers back over for bucks.
• 19:00
  Speaker 2: Yep.
• 19:01
  Speaker 1: You.
• 19:01
  Speaker 4: Oil has been holding up pretty good, even if the
• 19:04
  Speaker 4: demand is it's impossible to really gauge demand because global market.
• 19:10
  Speaker 4: You know, people are driving more here, they're driving less
• 19:13
  Speaker 4: there as you really don't know, but exceon I think
• 19:16
  Speaker 4: put out a projection that the amount of petroleum used
• 19:20
  Speaker 4: is going to stay constant for the next twenty five years.
• 19:24
  Speaker 2: Oh yeah, well, what's all the where's all the electrification?
• 19:27
  Speaker 2: How can this be?
• 19:28
  Speaker 1: Can't be electrifications changing, It has to change. I think
• 19:32
  Speaker 1: more we're going to be seeing more of a hybrid type.
• 19:35
  Speaker 2: Of an engine model.
• 19:36
  Speaker 1: I think Toyota has a really really good prototype that's
• 19:39
  Speaker 1: coming out right now. But no question, we are petroleum based.
• 19:43
  Speaker 1: We're going to continue to be, and that's a good
• 19:45
  Speaker 1: thing for the United States. And if President Trump gets
• 19:47
  Speaker 1: back in, drill, baby, drill is what he continues to say.
• 19:50
  Speaker 1: And you know, the United States does it cleaner and
• 19:53
  Speaker 1: safer than anyone else in the world, not cheaper, the
• 19:55
  Speaker 1: cleaner and safer in the United States. We value those
• 19:58
  Speaker 1: two ideas, and the United States more oil than anybody
• 20:01
  Speaker 1: else right now. So that is a very deflationary idea
• 20:04
  Speaker 1: if we can produce more supply and also takes some
• 20:07
  Speaker 1: of the strength away from Russia and Saudi Arabia, who
• 20:11
  Speaker 1: are in lockstep as number two and three oil producers
• 20:15
  Speaker 1: in competition with US here. And so of course Russia
• 20:18
  Speaker 1: can't wage war unless oil traces remain elevated. So there's
• 20:23
  Speaker 1: a number of things that we can do in the
• 20:24
  Speaker 1: United States if we so chose.
• 20:26
  Speaker 4: To do them, and don't forget that gas. We have
• 20:28
  Speaker 4: more that gas than any buts in the world, to
• 20:31
  Speaker 4: the point where some of it even still to this
• 20:33
  Speaker 4: day gets flared off on the fields.
• 20:35
  Speaker 2: Literally when you see.
• 20:37
  Speaker 4: Those giant flames when you're going by a field that's
• 20:40
  Speaker 4: flaring because it got too much gas and there's no pipelines.
• 20:44
  Speaker 2: You can't build pipelines, not gas.
• 20:47
  Speaker 4: You'd think they'd be pushing that because everybody should have
• 20:50
  Speaker 4: that gas. And you've got these crazy states banning gas stoves,
• 20:54
  Speaker 4: banning natural gas, pipelines, hookups, all this. Yeah, so hey,
• 21:00
  Speaker 4: we're seeing that happen. We're seeing the central banks buying gold.
• 21:06
  Speaker 4: You know, how much longer can it go on?
• 21:09
  Speaker 2: Good question?
• 21:10
  Speaker 1: As I'm looking forward here again, I think that we're
• 21:12
  Speaker 1: going to have a much choppier end of the year
• 21:15
  Speaker 1: as we move into twenty five. You know, there's a
• 21:18
  Speaker 1: number of ways to really juice the market. I think
• 21:21
  Speaker 1: that we're going to see the statistics start to fall
• 21:23
  Speaker 1: apart and interventions have to start coming in. And so
• 21:27
  Speaker 1: there's a gauntlet ahead of us as we head into
• 21:29
  Speaker 1: this election. I mean, we've got COVID two point zero
• 21:31
  Speaker 1: that's likely to come we've got, you know, Kamala and
• 21:35
  Speaker 1: Trump are going to start debating. I mean, Kamala has
• 21:37
  Speaker 1: now had about three weeks of a facelift to her profile,
• 21:41
  Speaker 1: and even though she's never won a single primary vote,
• 21:44
  Speaker 1: she's never even.
• 21:44
  Speaker 2: Made it to Iowa.
• 21:46
  Speaker 1: She didn't even make it past the first round last primary.
• 21:50
  Speaker 1: She's the horse that's running here. And so, you know,
• 21:53
  Speaker 1: I think that this is a gift to the Republican
• 21:56
  Speaker 1: Party candidly, because as the president goes, that's likely to
• 22:00
  Speaker 1: be the way that the House goes. I think the
• 22:02
  Speaker 1: Congress you could actually see a sweep here coming at
• 22:05
  Speaker 1: the end of the year. And that's, of course, if
• 22:07
  Speaker 1: elections remain normal, we don't get into World War three,
• 22:09
  Speaker 1: all these crazy geopolitical events erupt all over the world.
• 22:13
  Speaker 4: So it's anyone's guess. But but when we're looking looking
• 22:19
  Speaker 4: at this, do you think the market's got it baked
• 22:21
  Speaker 4: in the cake that Trump is going to win.
• 22:24
  Speaker 1: I do think that the market is expecting that Trump
• 22:26
  Speaker 1: is going to win, which is going to be positive,
• 22:28
  Speaker 1: and I think the sentiment of that is going to
• 22:30
  Speaker 1: continue as we move forward here into September. You know,
• 22:34
  Speaker 1: we're looking for leadership change, I think everyone's recognizing that
• 22:38
  Speaker 1: Kamala was the most unliked vice president that we've ever had,
• 22:41
  Speaker 1: I think, and at least as far as the pollings
• 22:44
  Speaker 1: go back. And so I do not believe that she's
• 22:47
  Speaker 1: going to be able to turn this thing and get it.
• 22:50
  Speaker 1: So Trump has the lead. He's got the RNC that
• 22:54
  Speaker 1: looks more united than I guess anytime I've ever seen it.
• 22:57
  Speaker 1: So looking at the differences and messaging between kind of
• 23:00
  Speaker 1: the DNC, which was really about hate and against and
• 23:04
  Speaker 1: against and against that telling us necessarily what they're for
• 23:07
  Speaker 1: or how they're going to do something. I think that
• 23:09
  Speaker 1: America is going to look past all that. They're going
• 23:11
  Speaker 1: to recognize that we've got one way forward right now.
• 23:15
  Speaker 1: And this is a time when it is not a
• 23:18
  Speaker 1: moment to be complacent. This is a game on need
• 23:21
  Speaker 1: to make some things happen. We need somebody in there
• 23:23
  Speaker 1: that has a business mind and has the ability to
• 23:26
  Speaker 1: not just try to get votes, which you know, of course,
• 23:29
  Speaker 1: no one's even running our government right now, they're just
• 23:31
  Speaker 1: running for politics.
• 23:34
  Speaker 2: We need people that are you know, burying the line
• 23:38
  Speaker 2: and and a standard here.
• 23:39
  Speaker 1: So I think that I think the market will price
• 23:43
  Speaker 1: that in and we will ultimately see that, but it
• 23:46
  Speaker 1: could be.
• 23:46
  Speaker 2: A crazy, crazy uh rest of the year.
• 23:50
  Speaker 4: M all right, so uh yeah, it's it's definitely going
• 23:55
  Speaker 4: to be.
• 23:56
  Speaker 5: Uh.
• 23:56
  Speaker 4: I mean, like, we don't get into politics here because
• 24:00
  Speaker 4: it is a family, you know, a show after all. Well,
• 24:04
  Speaker 4: you know, this is the most insane election that I
• 24:08
  Speaker 4: have ever seen in a in every way.
• 24:12
  Speaker 1: So Jerry, the way I like to say it is,
• 24:15
  Speaker 1: you know, when political science affects my science with his economics,
• 24:19
  Speaker 1: I should have an answer. And so we need to
• 24:21
  Speaker 1: understand how two different ideas can mesh together and how
• 24:25
  Speaker 1: they affect each other. And they really are one one
• 24:29
  Speaker 1: right now. There's just you know, so closely aligned because
• 24:32
  Speaker 1: of how the Fed's being run, because of all the
• 24:33
  Speaker 1: pressures that are put on all these different things and
• 24:36
  Speaker 1: where things are going. So the American people need to
• 24:40
  Speaker 1: get informed.
• 24:41
  Speaker 2: They need to.
• 24:42
  Speaker 1: Continue to read and not just take a bunch of opinions.
• 24:45
  Speaker 1: That's the hard part is that you know, depending on
• 24:48
  Speaker 1: the channels that you look at and watch, you know,
• 24:50
  Speaker 1: there's so many negative opinions about everything that's going on
• 24:53
  Speaker 1: out there. And here's my point. I think that this
• 24:56
  Speaker 1: is really important to understand. But let's figure out the
• 24:58
  Speaker 1: things that we can do that are going to position
• 25:01
  Speaker 1: us for the future. Those things that we can do,
• 25:03
  Speaker 1: we can get the right risk of versification, the right
• 25:05
  Speaker 1: strategies in place right now that are going to really
• 25:07
  Speaker 1: benefit us as the economy changes and things turn. And
• 25:11
  Speaker 1: then also tax diversification is massive because when inflation goes up,
• 25:16
  Speaker 1: when this debt and deficit continues to rise, they're going
• 25:18
  Speaker 1: to have to tax us.
• 25:20
  Speaker 2: I'm a radical about this.
• 25:22
  Speaker 1: More than one third of America's wealth as in baby,
• 25:24
  Speaker 1: when we're score one case and I raised, they have
• 25:26
  Speaker 1: not paid a penny in tax.
• 25:27
  Speaker 2: Yet many do not have an answer. They don't know.
• 25:30
  Speaker 1: And you know, for better or worse, how they plan
• 25:34
  Speaker 1: their future today is what they're going to get tomorrow.
• 25:38
  Speaker 2: Yeah, whether you like it or not, you're going to
• 25:40
  Speaker 2: get it.
• 25:41
  Speaker 4: Yep, that's right, all right, So be prepared like a
• 25:47
  Speaker 4: good boy, scoff. And that's what you need.
• 25:50
  Speaker 1: To do, right, Yeah, absolutely, you know you need to
• 25:52
  Speaker 1: have a parachute before you before you get on the plane, right. So,
• 25:56
  Speaker 1: you know, I think it's important for people to be
• 25:58
  Speaker 1: paying attention right now to to where they are. You know,
• 26:02
  Speaker 1: it's it's kind of like most of the economic data
• 26:05
  Speaker 1: careas we've talked about in the past, is looking through.
• 26:07
  Speaker 2: The rearview mirror.
• 26:08
  Speaker 1: Rearview mirror driving does not work out well. We need
• 26:11
  Speaker 1: to be windshield present, and so I think it's important
• 26:14
  Speaker 1: to look at leading economic indicators where we're going manufacturing, unemployment.
• 26:19
  Speaker 1: We just talked about that trend. These are very important ideas.
• 26:23
  Speaker 1: People need to be paying attention because these statistics could
• 26:25
  Speaker 1: fall apart really fast and cause tremendous heartburns for the
• 26:29
  Speaker 1: market and investors that are entering or near in retirement
• 26:33
  Speaker 1: right now.
• 26:34
  Speaker 4: Hey, one thing I want to cover. It's not financially related,
• 26:38
  Speaker 4: but to me, the biggest shocker of this election, okay,
• 26:46
  Speaker 4: of RFK Junior getting into it, make America healthy again.
• 26:52
  Speaker 2: You know that.
• 26:54
  Speaker 4: It just amazed me to hear that, because it's so
• 26:58
  Speaker 4: obvious wood supply has turned into poison and and lots
• 27:04
  Speaker 4: of bad stuff there. And the health of our children.
• 27:09
  Speaker 4: You say, you have young kids. Uh, this is the
• 27:11
  Speaker 4: kind of thing you should really be, uh be concerned about.
• 27:16
  Speaker 4: You know.
• 27:17
  Speaker 2: Yeah, my wife was.
• 27:18
  Speaker 1: We were just in Europe and my wife has a
• 27:21
  Speaker 1: little bit of a gluten sensitivity.
• 27:22
  Speaker 2: She ate the bread.
• 27:23
  Speaker 1: No problem one is whatever she's going home right now
• 27:26
  Speaker 1: and she's like, I gotta find the right wheat berries
• 27:28
  Speaker 1: and to be able to make my own bread because
• 27:30
  Speaker 1: this was soodmo non jamo and so uh No, there's
• 27:35
  Speaker 1: no question that that that we have a lot of
• 27:38
  Speaker 1: things right now that I think that we need to assess.
• 27:40
  Speaker 1: And uh uh so why are we not having those conversations. Well,
• 27:46
  Speaker 1: I just think that there's a lot of other priorities
• 27:49
  Speaker 1: that we the people haven't necessarily mandated, uh that that
• 27:52
  Speaker 1: people be talking about. So uh, let's just pray that
• 27:55
  Speaker 1: politicians will understand who they represent.
• 27:59
  Speaker 2: Uh.
• 28:00
  Speaker 1: Let's hope that right now that you know, the people
• 28:04
  Speaker 1: of the United States can step up and say, you know,
• 28:07
  Speaker 1: this is this is our nation. After all, this thing
• 28:10
  Speaker 1: is not going the direction that we're looking for. And
• 28:14
  Speaker 1: it is very concerning to see all these things like immigration.
• 28:18
  Speaker 1: I mean, last point, Carrie, you know we were told this.
• 28:22
  Speaker 1: You know, the government statistics on unemployment were so accurate.
• 28:24
  Speaker 1: What else are they lying about? Oh, the border's safe
• 28:27
  Speaker 1: and secure, Oh about it, a soft landings coming anytime soon?
• 28:31
  Speaker 1: Inflations that I mean, these are huge, huge, huge statements
• 28:36
  Speaker 1: that I believe next twelve months, we are going to
• 28:39
  Speaker 1: see completely deteriorate, move backward, and we're going to say,
• 28:42
  Speaker 1: holy smokes, what do we do now?
• 28:44
  Speaker 2: Yeah?
• 28:44
  Speaker 4: Well, hey, to me, like making nutrition and health number
• 28:50
  Speaker 4: one issue, because twenty percent of our GDP goes to
• 28:55
  Speaker 4: trying to patch people up after they've destroyed their body.
• 28:58
  Speaker 4: It's true, And eighty percent of all expenditures take place
• 29:04
  Speaker 4: with her what are called the lifestyle diseases. When it's smoking,
• 29:10
  Speaker 4: it's obesity, it's uh, you know, high stress. People don't
• 29:15
  Speaker 4: all these things. And to make that an election issue
• 29:20
  Speaker 4: and take on big pharma and big ag and and
• 29:25
  Speaker 4: all of that, you know, he's done something amazing here.
• 29:28
  Speaker 4: I personally despise the guy for a variety of personal
• 29:31
  Speaker 4: reasons I won't go into. I knew him from New York,
• 29:35
  Speaker 4: but while doing this pretty amazing.
• 29:37
  Speaker 1: Yeah, I think he's probably going to get a spot
• 29:39
  Speaker 1: in Trump's cabinet as a result of it. And that
• 29:41
  Speaker 1: shows Trump's bipartisan nature and wanting to work across the aisle.
• 29:45
  Speaker 1: And I think R probably represents more along the line
• 29:48
  Speaker 1: what traditional liberals were. I mean, this is Bobby Flippin' Kennedy.
• 29:52
  Speaker 1: After all, the guy's got the name, he's got the
• 29:54
  Speaker 1: D and I guess it would you know, the Independent,
• 29:57
  Speaker 1: But he had it all and the party has changed
• 30:01
  Speaker 1: and it has gone a different rest direction. I like
• 30:04
  Speaker 1: to say this election is balloon no matter who or
• 30:08
  Speaker 1: red Tell him Dad, those are the two opinions.
• 30:11
  Speaker 4: Yeah, well somewhere, But you know, I think things are changing.
• 30:15
  Speaker 4: The political realignment's taking place where we realize existential issues
• 30:20
  Speaker 4: trump everything else, no pun intended. And I think that's
• 30:24
  Speaker 4: what we're going to see. David, just tell us how
• 30:26
  Speaker 4: do we connect with you? How do we find you
• 30:28
  Speaker 4: on the web?
• 30:29
  Speaker 1: Yeah, hey, Stedbubble dot com is a great way to
• 30:33
  Speaker 1: get to know me and what's going on. Got some
• 30:36
  Speaker 1: good information out there, got classes that are coming up
• 30:39
  Speaker 1: here as the year is ending on Medicare, social Security,
• 30:43
  Speaker 1: JAX is retirement planning. So that's that's that's kind of
• 30:47
  Speaker 1: what we got going on right now. And welcome anybody
• 30:51
  Speaker 1: to get some downloads off our website.
• 30:53
  Speaker 4: All right, and you'll find a link in the show
• 30:55
  Speaker 4: notes to this interview on Financial Survival Network dot com
• 30:59
  Speaker 4: and just click it take you to David's site. While
• 31:02
  Speaker 4: you're there, would you please sign up for our free
• 31:06
  Speaker 4: newsletter got a question for David myself, klatcarrilots dot com.
• 31:11
  Speaker 2: Is the email address. Always a pleasure to have you on, David.
• 31:14
  Speaker 2: We'll talk to you again real soon, Gary Pleasures mind
• 31:16
  Speaker 2: take Eric talking.
• 31:17
  Speaker 3: So thanks for listening to Carrie Letz's Financial Survival Network,
• 31:21
  Speaker 3: your solution to today's trying times. For the latest, go
• 31:25
  Speaker 3: to Financial Survivalnetwork dot com. Financial Survival Network now more
• 31:31
  Speaker 3: than ever,