Latest / Financial Survival Network / Ready for the Great Fed Screw Over — John Rubino #5908

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Ready for the Great Fed Screw Over — John Rubino #5908 · Financial Survival Network

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Everybody is going to vote no matter what your body temperature is, exactly like
0:05
the room temperature you're voting. When I first moved to Florida and I forget
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like I passed by a nursing home, okay, a nursing home and there
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was a polling station in the nursing home and I'm like, you know,
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wait, like so it's like they just set the Alzheimer's patience up and they
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say like, I'm here to vote. Oh but you voted already. Nah,
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I don't remember it. I'll vote again. You know, you get
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them. You just keep them voting and voting early and often. Right,
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you were listening to Carrie Let's his Financial Survival Network, where you get valuable
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more than ever. And welcome you are watching listening to the Financial Survival Network.
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I'm your host, Carry Lutts. Well, we got lots to talk
1:08
about this week with our good friend John Robino has always got a question comment
1:14
email is kl at carry Lutz dot com. Make sure you leave your comments
1:19
down below on the YouTube channel like share, subscribe, and proselytize. That's
1:25
our slogan. And well, John, everything is about the FED, right,
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So they're not They didn't raise rates. They did a little pause,
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but they're not cutting rates. And now the ten years going up, it
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looks like they have some wiggle room in the two year, right the FED
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funds rate is still above the two year. They can't let the two year
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go above the Fed's fund rate where the money gets trained from the system.
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Right, Hey, Carrie, Well yeah, La, last week Fed did
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all hawkish pause. They didn't raise rates, but they threatened again at least
2:00
once more this year and then to keep rates higher for longer, you know,
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at more or less this level or just a little bit below, all
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for all of twenty twenty four, which is a pretty big deal because these
2:13
are debilitating rates right now, and I think that the FED doesn't yet get
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that because wages are going up and energy is up, So these two things
2:22
are up, and the FED is terrified of both of them. They don't
2:25
want to oil to go up above one hundred dollars of barrel. They don't
2:28
want, for instance, the UAW strike to be settled on terms that are
2:34
similar to the airline pilots or the UPS drivers, because that means several hundred
2:38
thousand people are suddenly making way more money than they were, which is inflation,
2:45
as the FED defines it. So they're worried and they're willing to be
2:49
tighter for longer in order to choke wage inflation out of the system, which
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is, you know, despicable on the one hand, but par for the
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course on the other. It's just how the monetary authorities operate, and that
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means they're going to keep things high enough to break something next year. That's
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basically what they got to do, because you know, wages are not going
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to start gently following after all these successful strikes. So the only way to
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get wages back down to two percent a year or zero, as the FED
3:19
would rather have it, is you've got to break big sections of the economy,
3:23
lay everybody off, and then have the wages of the people that are
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laid off drop dramatically because they have to go work at McDonald's, teach some
3:30
slace like that. So that's what the Fed's trying for and they will get.
3:35
You know, there's the interest rate that gives you that kind of crisis,
3:39
and it's conceivable that we're there already. So you know, right right
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now, the ten year treasure is at four and a half percent, which
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is the highest since two thousand and seven, which was right before the last
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gignotic financial crisis. So you know, we could easily see easily see something
3:55
like two thousand and two thousand nine. Yeah, these interest rates stay as
4:01
high as they are right now, and it could be a lot worse because
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we're much more indebted now than we were then. So I think they're playing
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with fire. Yeah, there's no chance of fixing things in any of that,
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but what they're doing right now is risking a big crisis. Hey,
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you know what the thirty year fixed is at today? According to wait,
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let me guess, seven point four No, no, According to this as
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of September twenty second, twenty twenty three, the thirty year fixed is well,
4:33
well, it's average rates. You know, that's that's not giving me
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what I want. But it's at eight percent. But that covers every bike
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goes score and everything else. But we can go to scene it and we
4:48
can come up with that rate right now. And you know they just it's
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like bank rate. They just give these rates, but it's it's well into
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the seven we can safely say that. Let's see what Investipedius says seven point
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nine two percent as of September twenty one, So okay, rates went up
5:11
on the twenty second, so it's over eight percent, so that actually is
5:15
correct. So so two years ago we were talking and we said, okay,
5:20
what mortgage rate destroys the housing market? I think you and I would
5:25
have both come in below the current rate, right, I would have said
5:28
like six and a half per sound for surely. And so you know the
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housing market is artist frozen and well Florida, there's no inventory, that's the
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aerodox, right, and you've got cash buyers coming in because people are fleeing
5:44
their horrendous dictatorships like California and Illinois and Venezuela Brazil. Well, okay,
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brazila dictatorship put there. You know, they've got issues, and so keeople
5:55
are coming into South Florida with catch but that's a rare thing right now.
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You know the rest of the country is not in that kind of a situation.
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And what's coming in normal real estate markets in the US. It's first
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of all Airbnb. There's going to be a deluge of Airbnb inventory from people
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who can't manage their rentals anymore and are going to have to sell them.
6:18
And private equity is now net sellers. You know, the the investor demand
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for houses in most parts of the country as has dried up, and that's
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well, and it's the private equity guys coming in buying up whole neighborhoods have
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sight on seeing institutional investor right. Yeah, but they're they're realizing that they
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did most of their buying at the very peak of the biggest real estate bubble
6:49
in American history. Yeah, and it's you know, maybe they can raise
6:55
rents and generate a cash flow this year, but they're going to be looking
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at massive capital loss going forward. So they're going to start selling to get
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out from under. And so they're you know, where there's a shortage,
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now there's going to be a glutch because of these mortgage rates. So that's
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that's what I'm talking about when I'm when I said if it's gonna break something,
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well, they're going to break the housing market. And that's how right
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you can do it. Yeah, the only reason. Well, sales actually
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year to year, year on year in Florida are down, but there's no
7:26
inventory because, like you were talking about the people with the three percent mortgage
7:30
who'd like to downsize, you can't because if you're gonna, if you're not
7:34
paying cash, then your mortgage, your costs for half the house will be
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the same as what you're paying now for your big house. Nobody's nobody's downsizing
7:46
for that for sure, But but you know, there's definitely a lot of
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the downward pressure. Look, oil is at ninety bucks a barrel. When
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oil hits a hundred, in my opinion from my experience what we've seen over
8:03
the past couple of decades, when it hits close to one hundred, it's
8:07
a guaranteed recession. You know. Well see that that's another thing of two
8:11
years ago, you and I were talking about which oil price blows up the
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market. I wouldn't have said a hundred. I would have said in the
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eighties probably, And then now, yeah, we're we're poking. We poked
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through ninety, right, and it held that handle. I think it might
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be down today. I haven't checked and change seventy something, so it's not
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meaningful Okay, but you've still got kind of tight supply reasonable demand at the
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moment because you know a lot of people are driving to work and back and
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that's that's supporting oil prices. So let's say they get one more impulse like
8:50
we had in the last couple of months and it breaks one hundred and yeah,
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that's psychologically important and mathematically important. You know, it makes everything way
8:58
more expensive. So that that presents the FAT with another dilemma because hundred dollar
9:05
oil percolates through the economy. You know, everything that has to be delivered
9:09
suddenly gets way more expensive because yeah, and so all of a sudden,
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the FAT is looking at you know, headline inflation, not core inflation,
9:18
but headline inflation back in the six percent range or something like that. Can
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they ease monetary policy with headline inflation at six percent? No, they can't.
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They got it. They tie. And so you know, all of
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these things are pointing towards something breaking because of excessively high interest rates given our
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amount of financial leverage that we have. Right So ye, and let's not
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forget while the West is raising interest rates, China is cutting interest rates.
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I don't think any any discussion of the global economy and the economy at home
9:56
is complete without a discussion of China's continuing economic implosion, which it gets worse
10:03
by the day. You know, really bad there, unemployment rate, youth
10:07
unemployment rate heading to fifty percent. People. Well, they have a foreclosure
10:13
crisis that you know, we don't know from even from eight o nine.
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They and their foreclosure crisis is way way more. They have sixty four million
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vacant units and millions and millions of units that are under construction that aren't being
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built, but that the purchaser still is responsible for the mortgage. So they
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got a strategic me mortgage default taking place on mass So all of that adds
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to cutting imports from the US and from other countries, and their exports are
10:50
in the toilet. So, you know, for a lot of years,
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I think the Chinese illusion kept the whole global economy alive. But now that
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illusion's gone, how's that going to affect the United States in the West.
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Yeah, it's important to understand that we had no way out of the Great
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Recession until China quinn tuppled. It's total societal debt to buy all the raw
11:15
materials that everybody else in the world had to sell and that pulled the world
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out of that very deep recession, but it came at a cost. You
11:22
know, China blew up the biggest real estate bubble in human history, and
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now they've they've got insane amounts of debt and a bunch of really shoddy construction
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that's never really going to you know, generate cash blow of any kind.
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You probably watched those Peter Zion videos, right, but I watched a few
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of them. Yeah, yeah. His latest one on China is absolutely apoccalyptic.
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You know, he says that the demographics are terminal for China. You
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know, they've they've flipped their you know, they're they're demographic pyramid upside down,
11:58
so they have no more new young workers in the pipeline are virtually done,
12:03
and huge numbers of old people that have to be supported, and Chinese
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civilization is basically over. I mean, that suggist of what he's saying.
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He's saying, it's it's so bad that there won't even be a China as
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we think of it by twenty thirty five or twenty forty. And you know
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that's a demographic description of society and collapse. So we've got a you know,
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a short term debt bubble blowing up on them right now. So it
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could be that the debt bubble blows up and they fight that for a couple
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of years and then they tip over into this demographic abyss that they never recover
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from something. Yeah, it's it's potentially a bigger story than just Oh,
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they borrowed too much for money for real on their real estate, and now
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they're going to have a bigger recession. Could be much worse than that for
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China. And it's not clear what that does to the global economy because they,
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you know, they were the manufacturing floor. Oh, the globalized system.
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And what are we going to do without all that cheat Chinese crap at
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Walmart? You know, I don't know how we'll get by. I don't
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know. This could be hey, retail apocalypse for the US. Although they're
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shifting all the production to Vietnam. You go into clothing stores now, I
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guess clothing is the easiest thing to switch over there. It's all from Vietnam,
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Malaysia, India. You don't see a lot of Chinese clothing anymore.
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I think that's where the electronics. We know that Apple is trying to switch
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their supply chain over to India. That's a little easier set than done because
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their infrastructure is so lacking there. No, I think it's indicative of Russia's
13:45
collapsing. All right, they are collapsing. I mean, look, this
13:48
war is bleak. You know, these wars that total wars that go on
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and on for month after month are inflationary, and they are you know,
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they're injurious to the social societal cohesion. And Russia's in like big trouble now,
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Like I don't know if you can believe half the YouTube's saying that Ukraine
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is winning, but you know, it's been almost two years. So the
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fact that they didn't knock off a second rate army within a month is indicative
14:24
of problems for Russia. And they had hundreds of thousands of people kill,
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brain drain, societal flight. Ukraine had it too. I mean, there's
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in Florida, you know, the second most popular language is not going to
14:37
be Spanish since it's going to be Russian, and the third most popular will
14:41
be Ukrainian, you know, I mean, that's how many people were getting
14:46
in here. So all of this portends for a major disaster for the West.
14:52
And then energy man, we go back to energy. It's like the
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ev revolution isn't going to save us in time? Right, Well, it
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was never gonna save us. Save us, I mean, electric cars are
15:07
much more fun to drive, so they were you know, we're going to
15:09
have a more fun We're gonna have more fun driving going forward. You don't.
15:13
Actually electric cars are kind of like fanol gasoline. Yeah, it doesn't
15:20
actually use less energy to put fanol in your gas tank because it takes a
15:26
lot of energy to make ethanol. You know, you don't actually save Anderson,
15:31
Is there anything? Yeah? Yeah, and electric cars. To drive
15:35
an electric car uses less energy except that you're probably charging it from a coal
15:41
coal fire power plant and the batteries take immense amounts of energy to create.
15:50
So you got to drive your electric car for eight years before the Lions Cross
15:54
and you're actually saving anything. So you know, they were never going to
15:58
save us. But they are much cooler technology, So I you know,
16:02
I see why they're they're spreading and I totally want one. But you know,
16:07
a lot of the green stuff that we're doing now, it is either
16:14
we're going to take a really long time to pay off, or we'll never
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pay off at all like offictional winds. You know, that's that's an idea
16:22
of the whales. Yeah, let's just let's and you know, we'll kill
16:25
the eagles if we put them in the playing stage, and then now out
16:27
west, and we'll kill the whales if we put them off the Atlantic coast.
16:32
So I think that it could easily be that wind power just goes away.
16:37
You're pretty soon. That's that's a bold state, might I know,
16:40
but I think that's likely. I think that's likely. Hey, yeah,
16:45
so we agree recessions on the way. Oh, by the way, you
16:48
mentioned here credit card losses spiking, and you know, savings rates now negative,
16:56
even foreclosures or going up. There's still at his story low rates,
17:00
but foreclosures are going up, although I don't think they're ever going to foreclose
17:04
like they did in the good old days during the GFC. But all these
17:08
things kind of point to a recession and in all likelihood of bear market in
17:14
the stock market. Right. One of the things that kept us out of
17:17
recession so far was that thing called excess savings, which is basically, you
17:22
know, we didn't go anywhere for two years, so our bank accounts grew
17:26
because the government we just cash our stimmy checks and stayed home and watch Netflix,
17:32
and so we had a lot of extra money in the bank. Well
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that's being spent. The bottom forty percent of the economy blew through their excess
17:40
savings six months ago, and they're steeply in negative excess savings now. The
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middle forty went zero or went negative just recently, and the top twenty percent
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of the economy in terms of wealth is headed for zero fact by that measure,
18:00
by the excess savings measures. So that's all gone, you know,
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that money has disappeared. Meanwhile, credit card debt is expanding like crazy,
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and student loan payments kick in shortly. Yeah, yeah, yeah, So
18:15
you've got people who are already strapped, they already spent their savings trying to
18:18
maintain their lifestyles, and now they've got to start paying on their credit cards.
18:22
So that's that's a recipe for plunging consumer spending. So we'll see if
18:29
that plays out that way in twenty twenty four. But it doesn't seem like
18:33
there's any more drivers for consumer spending going forward because other than wages, which
18:37
is not nothing. You know, these these unionized workers who are suddenly making
18:41
ten percent more a year. We'll probably spend some of that, but they're
18:45
not a very big part of the economy yet, you know, privately laid
18:48
off. Yeah, well, private sector for this to pay for the wage
18:52
increase. Yeah that too. Yeah, it's it's it's possible that we'll accelerate
18:57
automation. These big companies are going all right, you know, well,
19:02
we'll give you that forty percent raise of four years, but meanwhile, meat,
19:07
your meats, your replacement, really don't go you won't like what you
19:14
see. Yeah, so it could well be that that, you know,
19:18
the trend that puts money more money in people's pockets right now accelerates the trends
19:22
of people being laid off going forward. You know, let's see it the
19:26
touch. That's a excellent point too, John. Remember the fight for fifteen
19:32
when all these states bumped up the McDonald's fast food pay to fifteen an hour.
19:37
Do you remember what happened right after? We saw the explosion of kiosks
19:42
where people just ordered and because the cost of capital was so low and the
19:48
cost of labor differential was so high that it made sense to invest in these
19:55
kiosks and get rid of the cashiers, you know, just dumped them,
20:00
right, well, that would happen. Yeah, the food service and like
20:06
Uber, the sharing economy had become the unofficial social safety net for the United
20:15
States. Basically, you you got fired and you immediately started driving for Uber,
20:21
or you got a job at some fast food place or a restaurant or
20:22
whatever. And now those jobs are being automated away. I mean, you
20:26
know, self driving cars are still a litle way, but they literally have
20:30
some of them on the road, right. Yeah, they're going too well,
20:33
but this is reality. Yeah, so so five years from now,
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most deliveries will probably be by self driving cars or drones. Yeah. And
20:45
in restaurants, a huge amount of what happens it now by with people is
20:51
going to be done by various kinds of robots and yeah, things like that.
20:57
Let be the burger. You can flip like a thousand hamburgers an hour
21:03
and and put bonds on him and two two beef patties, old cheese special
21:11
sauce on a sesame seed. But he does all that. Flippy, you
21:15
know, you don't need. All we need is somebody who, like when
21:18
Flippy drops something by accident, pick it up off the floor and clean it
21:22
off and put it back in the Flippy's hopper to use it for another sandwich,
21:29
right yeah, yeah, So which means there's a huge societal thing coming
21:33
at some point where we got to figure out why, Okay, if that's
21:34
not the social safety net anymore, and what is, you know, and
21:40
then then we'll be discussing a UBI. I don't know what I think it
21:44
is in the social safety net. I think it's like send them off to
21:48
Crimea to fight for CRIMEA. That's the safe social safety Yeah, it's another
21:53
war, right, that's I mean, that's the standard empire strategies. You
21:59
create what they call a reserve army of the unemployed. Yeah, and Bluke,
22:02
we're going to starve. And you say, you know, three come
22:04
on in the military. Three free meals a day and lots of exercise and
22:08
you get to wear a uniform. Chicks love and in the uniform and uh.
22:14
And that's where the army comes from. Because you're you're not going to
22:17
get middle class kids to volunteer to go to some shipthol like PRIMEA or someplace.
22:22
No way, that is never going to happen, which is that's in
22:25
part why the military is falling so short of its recruitment targets right now.
22:30
That the wolkeness is the other part. You know, you also aren't going
22:33
to get many guys to join a military where part of the job is to
22:38
march around with a pride flag, you know, with you know, all
22:44
all due respect to wreck everybody on every side of the social space of it
22:48
not what the army is about. It's to break things and kill people,
22:52
exactly, this is the army. So it has to you know, outreach
22:56
to Disanfrance shows minorities here. Come on, No, it really is not
23:03
a social program and it's you know it and this is very non PC.
23:10
But the military has to have a male culture because large scale violence is basically
23:15
a guy thing, you know, it's just what we're programmed for that.
23:18
And if you're going to have a good army, it's got to be of
23:22
guys for guys. And that doesn't mean there can't be lots of women in
23:26
the military. It's just means that they have to, you know, be
23:30
one of the boys. They've got to be able to hang with with bros.
23:34
You know, that's just how its culture. It's a male culture of
23:38
aggression, dominance and and you know, basically using violent means to achieve a
23:48
common goal. Yeah, and that's why, or may not be good for
23:52
society as a whole, but that's what keeps the army going. It's like,
23:56
and then when they're in the thick of battle, they don't are about
24:00
like, oh, well, we got to get the flag up on that
24:03
hill. It's their brothers. They got to save their brothers. That's why
24:06
they're doing it, you know. So man, it is so inculcated and
24:11
so socially programmed into males when they go to the army. Luckily we still
24:17
have the South, so the South will hopefully save us, where gun culture
24:21
is alive and macho is good and well, you know, it could be
24:26
that that's part of the plan, is to get as many guys from the
24:30
South to join the army and then go get killed and depopulate the most conservative
24:36
part of the country. That that could be the the less plan for the
24:40
moment, We'll have to say, you know, they've done worse than this.
24:44
Hey, so so our favorite Democrat. I don't know if assassination attempt
24:51
is too great, but it seems like somebody with guns and a lot of
24:56
AMMO tried to cross pa Ads with RFK Jr. And but the good news
25:03
is the Biden administration still won't give him Secret Service protection, you know.
25:07
And okay, two things. We still haven't heard that guy's story, right
25:11
do we know it? While you know when he was there, we don't
25:15
need to hear his story to know his story. He's a lone gunman.
25:18
He probably is an anarchist. He probably hates the Kennedy family because of all
25:26
the privilege, and and he probably is a little insane as well. I
25:32
mean, when you say we haven't heard his interview yet or his statements a
25:37
winder, I holtely not. You think he's related to Ray Epps. You
25:45
know, I think he's related to the guy that shot James Garfield, right,
25:49
that anarchist, nut job disgrunt. Come to think of it, that
25:56
kind of applies to Lee Harvey Oswald too. He was you know, he
26:00
was a misfit in the army. He was no good. I mean,
26:03
he might have had some intelligence connections, but don't hold that against him.
26:08
And by the way, did you hear that theory? Well, the magic
26:12
bullet theory was that the bullet hit Kennedy went all these different directions and then
26:18
went into Connolly because they found this pristine bullet on Connolly's stretcher. Well,
26:26
the secret Service agent who found that magic bullet said it was with JFK.
26:32
He didn't want it to get misplaced, in other words, rabbit holed,
26:37
so he put it he himself put it on John Connolly, who was then
26:41
the governor's shoot sorry about this, who was the governor's the governor of Texas
26:49
who really didn't want to be in that car and fought tooth and nail to
26:52
not have to get in the car with l with JFK for some reason.
26:56
But in any event, the bullet was found on his aretcher, but it
27:00
really was on kennedy stretcher, which thereby makes the whole magic bullet theory impossible.
27:06
I mean, hey, if I was a Kennedy, I think I'd
27:11
change my name and I would keep a lower profile, don't you. Well,
27:15
okay, you know, you know we know the CIA killed JFK.
27:17
I mean, that's that is a done deal. No need even to debate
27:21
it anymore. That's just a giver. Carlton said, though, so what
27:23
did RFK junior? RFKA didn't. But but anyhow, with RFK, Biden
27:30
is not giving him secret Service protection because he doesn't want to do anything to
27:36
help a guy who might cost him the election. But what what do you
27:41
think it would do to Biden's popularity if he refused protection to RFK Junior and
27:45
then RFK Junior got assassinated. It seems like that would be the worst political
27:51
outcome that Joe Biden can imagine, Well, Joe Biden's handlers can imagine.
27:55
Joden I don't think he imagines anything anymore. But so there, it seems
28:00
like they're making a really big political mistake or taking a big political risk by
28:04
not giving secret Service help to OURFK Jr. But that's just a great my
28:11
opinion strategic point, you know. Agreed, all right. Finally, even
28:15
though we don't talk about politics because this is a family show. The Wappo
28:22
Washington Post poll gave Trump a ten percent lead over Biden, and then they
28:27
said, oops, flawed methodology doesn't count. We take it back. Well,
28:33
they published the research, the numbers and everything, but the headline said
28:38
this is an outlier, you know, so they disavowed their own methodology and
28:45
results in the article where they reported on those results. But yeah, it
28:48
said, well, and apparently they've had one other one like that. Just
28:52
recently too, they had another ten percent Trump lead in a poll over Biden.
28:56
So there's a point at which, if you get enough of these,
29:00
they stopped being outliers and they start being the central conclusion of polling. So
29:07
we'll see. But yeah, most polls haveing a much closer election when it's
29:11
head to head, which means Trump wins big because he doesn't have to win
29:17
the popular vote. He just has to win in enough swing states, and
29:23
if he gets close in the popular vote, he probably wins those swing states.
29:27
So you know, a fifty to fifty tie between Biden and Trump means
29:34
Trump wins easily in the electoral college. Correct my memory of this quote,
29:40
I don't remember if it was Lennon who said it or if it was Stalin.
29:44
But it's not who It's not who cast the votes that count, it's
29:49
who counts the votes. Well, yeah, I mean that's I think the
29:53
establishment in the US kind of has taken that to heart, right, So
29:59
what one funny about this is that, you know, the Republicans feel like
30:02
they got ripped off because the Democrats did a lot of things that Republicans didn't
30:06
do, like vote harvesting and stuff like mail in ballots. So now the
30:10
Republicans are saying, well, if these are the rules, we're going to
30:12
do it too, elomin age. Yeah, because and you know they'll be
30:15
very good at it too, because the Republican So they've got a lot of
30:21
boots on the ground out there, and a lot a lot of magatromp people,
30:23
a lot of people, yeah, because they feel like they got ripped
30:27
on. So this is their chance to steal the election back now, and
30:33
which means, you know, old old folks homes are going to be crawling
30:37
with competing political operatives now, you know, going, missus Smith here,
30:41
let me help you sign this voting ticket here, you know. And and
30:45
so we're going to see this deluge. This will be the highest turnout of
30:48
the election ever because every vote will be stolen in some way. Yeah,
30:55
everybody is going to vote, no matter what your body temperature is, exactly
31:00
like the room temperature, you're voting. When I first moved to Florida,
31:04
and I forget, like I passed by a nursing home, okay, a
31:08
nursing home, and there was a polling station in the nursing home, and
31:15
I'm like you know, wait, like so it's like they just set the
31:18
Alzheimer's patients up and it's like like, I'm here to vote. Oh but
31:22
you voted already. Nah, I don't remember it. I'll vote again.
31:26
You know, you get them. You just keep them voting and voting early
31:30
and often. Right, So it's so early voting and late voting, and
31:33
you know, nocturnal voting, and you've got you know, uh, what
31:41
do you call that? Necropolis voting? Right, So you got all these
31:47
interest groups, so we didn't even know we had, right, you know,
31:51
the dead. You know, they should get us saying things because they
31:53
help get us where we are today. Right, they deserve a vote.
31:57
I think the exit polls are going to be hilarious this time around too,
32:00
because you're one, you know, ten percent of the population will think they
32:02
voted for Harry Truman or something. That'll be the last name they remember from
32:07
I'll bet Harry Truman, which will be voting in this election. John,
32:10
Yeah, that's right, they'll digging him up. He was a good he
32:15
was a solid Democrat vote that they can definitely count on. Right. Oh
32:20
god, you know we're laughing about this, but this this is the adam
32:22
of democracies. Oh yeah, you know, John, can you name another
32:29
country where the head dictator locks up the political opposition in jail or you know,
32:37
basically trust them. It does show trials for crimes, both real and
32:40
imagine. Yeah, another country that might do that, like that country that
32:46
attacked Ukraine. They might be doing it in Brazil. They're having a show
32:52
trial now. I mean, this is the new trend is just don't debate
32:57
your opposition, indict them. Yeah, we're in good company now, you
33:00
know. And anur republic bath Yeah, Banana republics all. You know,
33:05
all the popular countries are Banana republic these days. So yeah, it's got
33:09
a you know. Hey, so make sure you go over to John's substack.
33:15
It's Robeo dot substack dot com. Link in the show notes our site
33:22
Financial Survival Network dot com. We'll have a link to John's site there as
33:25
well, and you can sign up for your free newsletter. John always a
33:30
pleasure. We'll talk to you in a couple of weeks. Thanks, Carry,
33:32
Thanks for listening to carry Lets's Financial Survival Network, your solution to today's
33:38
trying times. For the latest, go to Financial Survival Network dot com.
33:44
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