Latest / Ron Verb / Thursday 6pm hour 06/11/26

Transcript

Thursday 6pm hour 06/11/26 · Ron Verb

• 0:00
  Speaker 1: Well, it's Thursday edition 606 of Money Talks with John
• 0:04
  Speaker 1: Arnold on NewsRadio 570. We bring John on board and
• 0:08
  Speaker 1: there is plenty to talk about tonight, John, to say
• 0:11
  Speaker 1: the least. Big, big day on the market. Big up
• 0:14
  Speaker 1: day on the market. First, let's get some analysis of
• 0:17
  Speaker 1: the market, the economy, and the Trump effect and everything else.
• 0:25
  Speaker 1: I don't know if we have enough time to cover
• 0:26
  Speaker 1: all of that.
• 0:28
  Speaker 2: Yeah, it starts with volatility, as we've talked about. I
• 0:31
  Speaker 2: know that if I'm sick of talking about it, I
• 0:35
  Speaker 2: know you and the audience are sick of talking about it,
• 0:37
  Speaker 2: so I don't know what else to say other than
• 0:38
  Speaker 2: the truth. Trump and volatility equal each other, and I've
• 0:43
  Speaker 2: never seen anything like it, which is something he always
• 0:46
  Speaker 2: says ironically, but I've really not seen a president talk
• 0:49
  Speaker 2: and literally make two sentences and literally change the direction
• 0:53
  Speaker 2: of the market within the day or within the week,
• 0:55
  Speaker 2: and he does that. I don't know if it's somewhat...
• 0:58
  Speaker 2: Donald Trump and social media, because it didn't really exist
• 1:02
  Speaker 2: in the Reagan years and the Clinton years, but I
• 1:04
  Speaker 2: do know he does it. And with the social media,
• 1:07
  Speaker 2: it will change direction on the market within milliseconds. And
• 1:10
  Speaker 2: it's both bad and good. It's good for guys like me.
• 1:12
  Speaker 2: I love making, you know, if you can catch me
• 1:14
  Speaker 2: and you, you know, in the 830, 870 area, and
• 1:17
  Speaker 2: it goes up to 990 in two days, that's good
• 1:20
  Speaker 2: for me. But if you're somebody that's like on the
• 1:23
  Speaker 2: rock part, you're trying to manage wealth for people retiring,
• 1:26
  Speaker 2: you're that's really fearful and disheartening. So it really drives
• 1:30
  Speaker 2: the average investor, um, crazy, probably the average investment advisor crazy.
• 1:34
  Speaker 2: Cause they're just trying to make sense of it for
• 1:37
  Speaker 2: guys like me that are managing training stuff all day
• 1:39
  Speaker 2: and within the market. It's great. But, uh, You know,
• 1:42
  Speaker 2: it's volatility in Trump, and the Trump effect is good
• 1:47
  Speaker 2: and bad for both sides of the party.
• 1:49
  Speaker 1: We're just going to have to wait and see to
• 1:51
  Speaker 1: see if, first and foremost, if this.
• 1:57
  Speaker 3: Materializes.
• 1:58
  Speaker 1: We've been told so many times we're close to a deal,
• 2:01
  Speaker 1: and we're told it again this time. And the market
• 2:06
  Speaker 1: has reacted most of the time when he says this
• 2:09
  Speaker 1: kind of stuff, right?
• 2:12
  Speaker 2: Yeah, and I thought, you know, J.D., I talked about
• 2:15
  Speaker 2: this a couple weeks ago when J.D. Vance was on television.
• 2:18
  Speaker 2: It could have been on the podcast maybe with you,
• 2:20
  Speaker 2: but he openly said, I'm very, very, very confident that
• 2:25
  Speaker 2: oil prices are going to come down this summer. And
• 2:27
  Speaker 2: sure enough, literally that next few days, they started drastically
• 2:30
  Speaker 2: coming down. And it was kind of like a handshake
• 2:33
  Speaker 2: agreement on the table. Then Iron was living up to
• 2:35
  Speaker 2: their end. U.S. was kind of living up to their art,
• 2:38
  Speaker 2: to theirs. And then I think Israel, you know, kind
• 2:42
  Speaker 2: of kicked the can off the lid again and started
• 2:44
  Speaker 2: attacking Lebanon, and Trump and Israel got in a fight,
• 2:46
  Speaker 2: and Iran didn't really give a you-know-what and started attacking us.
• 2:50
  Speaker 2: So you can't just start, you know, blasting our allies,
• 2:53
  Speaker 2: et cetera, because they consider Israel the same as the
• 2:55
  Speaker 2: United States. So I do see their point. They look
• 2:59
  Speaker 2: at it like we're breaking the truce. We look at
• 3:01
  Speaker 2: it like they're breaking the truce. But at the end
• 3:03
  Speaker 2: of the day, you know, Trump has probably said a
• 3:05
  Speaker 2: billion times now that this thing's coming to an end.
• 3:07
  Speaker 2: We're around the corner from a ink in a deal,
• 3:10
  Speaker 2: and it never happens. And so he's cried wolf so
• 3:13
  Speaker 2: much that, you know, even people like me that support him,
• 3:15
  Speaker 2: it's hard to believe in anything they say. And it's
• 3:20
  Speaker 2: frustrating because he has so many great policies, and I
• 3:23
  Speaker 2: think he's taken us back in the right direction, but
• 3:26
  Speaker 2: stuff like this really affects the market and affects the voters. Right.
• 3:30
  Speaker 1: So needless to say, by him saying what he said
• 3:34
  Speaker 1: today and by taking this Trump cancels the Iran strike
• 3:39
  Speaker 1: scheduled for this evening. And by doing that and then
• 3:43
  Speaker 1: claiming that a deal is near, the market goes up
• 3:47
  Speaker 1: huge today, absolutely huge. So you're operating now your hedge funds.
• 3:55
  Speaker 1: And when you guys are dealing from a hedge fund standpoint,
• 4:00
  Speaker 1: this type of day is a good day then, is
• 4:04
  Speaker 1: it not?
• 4:06
  Speaker 2: It's a nice one day because if I can get, like...
• 4:09
  Speaker 2: I'm going to throw, like, some free data out there.
• 4:11
  Speaker 2: If I can get MU, which is Micron, at such
• 4:14
  Speaker 2: a discount, and NASA, which is a space technology stock,
• 4:20
  Speaker 2: and even, like, let's just throw something that everybody knows
• 4:23
  Speaker 2: out there, SPY, which is SP for 100. If I
• 4:25
  Speaker 2: can get that, you know, ridiculous discount, that to me
• 4:29
  Speaker 2: is like going to Giant Eagle with 50% off coupons
• 4:31
  Speaker 2: and buying groceries. So... it's a no brainer for a
• 4:35
  Speaker 2: guy like me. And, and, and yeah, I mean, I, I, uh,
• 4:39
  Speaker 2: you know, obviously I didn't give the whole kit and caboodle,
• 4:41
  Speaker 2: but I did give you, you know, some, some pretty
• 4:44
  Speaker 2: pointed things. If you were to do your research, like
• 4:46
  Speaker 2: it was pretty easy for somebody who knows how to
• 4:48
  Speaker 2: manage money to make some money on those pullbacks. Again,
• 4:51
  Speaker 2: what I feel bad is for the people who don't
• 4:53
  Speaker 2: know how to manage money or the average investment person
• 4:57
  Speaker 2: that looks at the 401k a couple of times a month,
• 5:00
  Speaker 2: which is all they should. And they say, Holy, you know,
• 5:02
  Speaker 2: Holy crap. you know, 5% loss in a week, and
• 5:06
  Speaker 2: it's a drastic over-the-cliff drop. So, you know, again, good
• 5:11
  Speaker 2: for hedge fund traders and money managers, terrible for people
• 5:15
  Speaker 2: that are normal and that are not doing that.
• 5:18
  Speaker 1: But one thing you've got to say, though, even if
• 5:20
  Speaker 1: you saw just the normal investor, if you saw things
• 5:23
  Speaker 1: go down or the market go down, the upside is
• 5:27
  Speaker 1: pretty huge as well. So a lot of times all
• 5:29
  Speaker 1: that down is erased on a good day like today, perhaps.
• 5:35
  Speaker 2: No, yeah, I mean, no, no, listen, I'm going to
• 5:38
  Speaker 2: tell you, I'm behind on some of my positions, not
• 5:40
  Speaker 2: a lot, but I know I didn't get full-blown profit
• 5:44
  Speaker 2: on some things that I was in, but it drastically
• 5:47
  Speaker 2: changed today, let's just say that. The overall portfolio, I
• 5:50
  Speaker 2: thought it was, I'll be honest with you, I thought
• 5:52
  Speaker 2: it was going to be the end-of-the-month type situation. I
• 5:54
  Speaker 2: really did. But, you know, it's coming out tonight, right,
• 5:57
  Speaker 2: the IPO?
• 5:58
  Speaker 3: Yes, you're talking SpaceX IPO. What are your thoughts?
• 6:02
  Speaker 2: Yeah, yeah. Uh, my thoughts are that you gotta be
• 6:06
  Speaker 2: really careful here because maybe they overpriced it. You know, tomorrow,
• 6:10
  Speaker 2: tomorrow is a big day because usually after you have
• 6:12
  Speaker 2: a 900 point or 650 point, and I'm, I'm kind
• 6:16
  Speaker 2: of exaggerating. I think it was six 40, uh, IPO. Um,
• 6:21
  Speaker 2: that's probably going to be a profit taking day tomorrow.
• 6:24
  Speaker 2: So you probably, you should, again, should be the keyword.
• 6:28
  Speaker 2: You should have somewhat of a profit taking day. So, um,
• 6:33
  Speaker 2: for the IPO to come out tomorrow like it's going
• 6:35
  Speaker 2: to on a profit-taking day could hurt it. And I'm
• 6:39
  Speaker 2: talking in coulds, and I keep emphasizing that. But they're
• 6:43
  Speaker 2: saying it's going to come out, and I haven't got
• 6:45
  Speaker 2: the check because I was preparing for the show, $ 135
• 6:47
  Speaker 2: a share. The ticker is SPCX. They're looking to raise
• 6:53
  Speaker 2: $ 75 billion, the largest in history. And here's the killer.
• 6:57
  Speaker 2: This is the thing that a human brain, including mine,
• 7:00
  Speaker 2: can't wrap around. Well, and they're going to raise they're
• 7:03
  Speaker 2: probably going to have a valuation, excuse me, they're going
• 7:06
  Speaker 2: to have a valuation, $ 1. 8 trillion, the T word, trillion.
• 7:11
  Speaker 2: So if you can wrap your head around an IPO
• 7:15
  Speaker 2: that's going to create a company that has a valuation
• 7:17
  Speaker 2: of $ 1. 8 trillion, I don't know what to say. It's just,
• 7:22
  Speaker 2: I think it's just mind-blowing. I never thought I'd see
• 7:24
  Speaker 2: that in my lifetime.
• 7:26
  Speaker 1: And I mean, that one stock, It could have an
• 7:29
  Speaker 1: effect on the market tomorrow, just that one stock alone,
• 7:32
  Speaker 1: could it.
• 7:34
  Speaker 2: Not? Yeah, I'm assuming that's going to be the NASDAQ.
• 7:36
  Speaker 2: I don't think that it applied for the Dow Jones.
• 7:38
  Speaker 2: I don't know if it's going to. I don't know
• 7:40
  Speaker 2: if the exchange is going to hit, obviously. But, yes,
• 7:44
  Speaker 2: I do believe that could sway the market a little bit,
• 7:48
  Speaker 2: depending on how it comes out. Like, again, if it
• 7:50
  Speaker 2: comes out at 135 and the market thinks it's worth
• 7:53
  Speaker 2: 100 and there's a minus 35% on the share price tomorrow, Again,
• 7:59
  Speaker 2: just a complete hypothetical scenario. That could rock the market.
• 8:02
  Speaker 2: You could say, you know, wait a minute, this thing
• 8:04
  Speaker 2: is not as great as everybody says. You know, the
• 8:07
  Speaker 2: stakes might work the sizzle. So tomorrow is going to
• 8:13
  Speaker 2: be a record-changing day tomorrow either way on the stock
• 8:15
  Speaker 2: market as far as IPOs go. And I'm behind. I'm
• 8:19
  Speaker 2: an Elon Musk fan. I think you are too.
• 8:21
  Speaker 1: And there's plenty of people that are that way that
• 8:23
  Speaker 1: are probably interested in getting in long-term maybe.
• 8:28
  Speaker 2: Absolutely. Again, if you're a long-term holder and you can
• 8:32
  Speaker 2: get on the secondary market after it comes off the IPO,
• 8:35
  Speaker 2: and you think it's a value price or target price,
• 8:37
  Speaker 2: you live with it. That's it. But if you're trying
• 8:39
  Speaker 2: to day trade SpaceX tomorrow after it comes off the IPO,
• 8:45
  Speaker 2: I think you're a fool. So we'll see what happens.
• 8:49
  Speaker 2: It is trading on the NASDAQ tomorrow. So... We're going
• 8:55
  Speaker 2: to see. Tomorrow's going to be a crazy day. Crazy,
• 8:57
  Speaker 2: crazy day.
• 8:58
  Speaker 1: So there's many variables tomorrow with this market that went
• 9:01
  Speaker 1: up high today. If there's profit-taking, you're saying, and this
• 9:05
  Speaker 1: SpaceX IPO, going to be a unique day to a
• 9:08
  Speaker 1: certain extent.
• 9:10
  Speaker 2: It is. Again, I mean, for a NASDAQ, they go
• 9:13
  Speaker 2: up 640, and the Dow Jones will go up 900
• 9:15
  Speaker 2: and something. Typically, after those days, you get profit-taking days.
• 9:19
  Speaker 2: It's easy money for people that are trading. So they
• 9:21
  Speaker 2: could artificially bring that down just because the overall market
• 9:24
  Speaker 2: could be down. I have zero factual basis on what
• 9:29
  Speaker 2: I'm saying. This is truly a guess like anybody else.
• 9:32
  Speaker 2: So I just want to make that clear.
• 9:34
  Speaker 1: I didn't know if you wanted to, I forgot to
• 9:36
  Speaker 1: ask you about your opening statement that you usually like
• 9:39
  Speaker 1: to read before we get started.
• 9:40
  Speaker 2: Yeah.
• 9:41
  Speaker 3: Go ahead.
• 9:41
  Speaker 2: I'll just say, you know, the money talk show is
• 9:44
  Speaker 2: strictly for investment advice purposes. It's educational, strictly no investment advice.
• 9:52
  Speaker 2: Please consult your own tax advisor and or investment professional
• 9:54
  Speaker 2: before making any investment decisions. All markets carry the risk
• 9:58
  Speaker 2: of loss of principle.
• 9:59
  Speaker 1: So when you take a look at if Trump does
• 10:03
  Speaker 1: this ceasefire, he says an agreement is basically a done deal.
• 10:07
  Speaker 3: They just got to sign off on it.
• 10:09
  Speaker 1: If that stuff doesn't materialize, as we've seen in the past,
• 10:14
  Speaker 1: I mean, that can have a negative effect on the market.
• 10:17
  Speaker 1: If it doesn't materialize, we could see oil prices go
• 10:19
  Speaker 1: back up. We could see the stock market go back down.
• 10:23
  Speaker 1: That's how volatile this situation is.
• 10:27
  Speaker 3: Agree?
• 10:28
  Speaker 2: Yeah. I think any time I got talks, this is
• 10:32
  Speaker 2: old hat, but tariff, inflation, interest rates, space, Iran war,
• 10:38
  Speaker 2: whatever he says, there's a magnet to the market on it,
• 10:41
  Speaker 2: and he can flow it either way. But I think
• 10:43
  Speaker 2: that tomorrow, I don't see the market going down crazy.
• 10:47
  Speaker 2: I mean, you have two pieces of great news coming.
• 10:50
  Speaker 2: I think that they're probably going to come with some
• 10:52
  Speaker 2: kind of artificial handshake tomorrow with Iran or tonight. And
• 10:56
  Speaker 2: I think that, you know, SpaceX is probably going to
• 10:59
  Speaker 2: be a positive thing tomorrow. I really do. All right.
• 11:02
  Speaker 2: So let me tell you something that, you know, relates
• 11:05
  Speaker 2: to the firm that bought me. So me, I read
• 11:07
  Speaker 2: every Monday to kind of. do our thing on the investments.
• 11:12
  Speaker 2: We consult with each other to help the clients at Rockport.
• 11:15
  Speaker 2: And two weeks ago, we put together some stuff that's
• 11:18
  Speaker 2: going to capture SpaceX. So really proud of that. So
• 11:21
  Speaker 2: if the folks are listening that are with Rockport, I
• 11:26
  Speaker 2: would say contact Joe and Adam and talk about some
• 11:29
  Speaker 2: of the moves we made. I think they'll be very happy.
• 11:31
  Speaker 3: All right. Glad to hear that. So let's talk a
• 11:35
  Speaker 3: little bit about your hedge funds.
• 11:37
  Speaker 1: John Arnold has started his hedge fund, 100 investors, still
• 11:42
  Speaker 1: some slots open. Once it reaches 100, it's closed off.
• 11:45
  Speaker 1: So if you're interested in investing in June, you wouldn't
• 11:49
  Speaker 1: be into the fund until July, correct?
• 11:53
  Speaker 3: July 1st. That's correct. Okay, if I have it accurate.
• 11:57
  Speaker 1: So if you're interested in getting into the hedge fund
• 12:01
  Speaker 1: that is managed by John Arnold and a couple of
• 12:04
  Speaker 1: other folks.
• 12:05
  Speaker 3: We'll get into them momentarily.
• 12:07
  Speaker 1: If you're interested in getting into that, we'll let you
• 12:09
  Speaker 1: know how to do that phone number-wise and website-wise momentarily.
• 12:14
  Speaker 1: So stand by for that. I want to talk to
• 12:16
  Speaker 1: you about your hedge fund and what you were saying
• 12:19
  Speaker 1: about the VIX last week and versus what happens.
• 12:24
  Speaker 2: Yeah, and again, I'm not trying to say I have
• 12:27
  Speaker 2: a crystal ball or I'm predicting the market. I'm just
• 12:29
  Speaker 2: saying last week on our show, I said... I was
• 12:33
  Speaker 2: pretty worried because the VIX was in that 14 to
• 12:35
  Speaker 2: 16 range. I want to say 15 to 16. And
• 12:38
  Speaker 2: the last time it was in that 15, 16 range,
• 12:40
  Speaker 2: it really spiked up in the 20s. And then sure enough,
• 12:46
  Speaker 2: what followed was the market took a really big kick
• 12:50
  Speaker 2: in the ass. And this exact same pattern happened right
• 12:53
  Speaker 2: after the show. So that VIX went down to that 15,
• 12:56
  Speaker 2: 16 mark. And sure enough, well, listen, they're interchangeably. What
• 13:03
  Speaker 2: I'm saying is they work hand in hand. So market
• 13:05
  Speaker 2: goes down, VIX goes down, VIX goes down, market goes down.
• 13:09
  Speaker 2: So they kind of beat off each other. So the
• 13:13
  Speaker 2: reason for me telling you that is it was kind
• 13:16
  Speaker 2: of cool to see that it reacted like I thought
• 13:19
  Speaker 2: would happen because there really wasn't bad news up until
• 13:23
  Speaker 2: that point. But that VIX had been trending down, which
• 13:26
  Speaker 2: means there was too much calm. And too much calm
• 13:30
  Speaker 2: usually equals something around the corner to spike it a
• 13:33
  Speaker 2: little bit. And I need to say, something you probably
• 13:37
  Speaker 2: need to talk about that should have drove people crazy,
• 13:39
  Speaker 2: and I mean crazy, is what caused the first volatility
• 13:43
  Speaker 2: movement was the fact that the jobs report came out
• 13:45
  Speaker 2: too good. That is mind-blowing to me. I still can't,
• 13:49
  Speaker 2: being 50 and being through various markets, bear and bull,
• 13:53
  Speaker 2: I can't wrap my head around that good news is
• 13:55
  Speaker 2: bad news. And when I say bad news, I mean
• 13:58
  Speaker 2: minus 1,000 points on the Dow Jones bad news.
• 14:00
  Speaker 3: Because of a good jobs report?
• 14:03
  Speaker 4: Yes.
• 14:03
  Speaker 2: That's the underlying great thing about the American economy is
• 14:07
  Speaker 2: our people have jobs. They're not socialist jobs. They're true jobs.
• 14:11
  Speaker 2: And that brought the market down. I'm not talking like
• 14:14
  Speaker 2: 200 points. I'm talking 1,000 points.
• 14:17
  Speaker 3: Explain that. That doesn't make a lick of sense to me.
• 14:20
  Speaker 2: But that's been going on, man. That's been going on.
• 14:22
  Speaker 2: We talk about, and Andrew Smith used to talk about
• 14:25
  Speaker 2: this with me, the crack in the market is interest rates.
• 14:27
  Speaker 2: And corporate America is addicted to low interest rates. Good
• 14:32
  Speaker 2: job reports means that the Fed doesn't have a reason
• 14:36
  Speaker 2: to decrease interest rates, which means corporate America can't. get
• 14:39
  Speaker 2: on the government-free kid anymore. That's what that means. That
• 14:42
  Speaker 2: is flat-out, bottom-line talk what that means. That means no
• 14:46
  Speaker 2: freebies on the interest rates. Corporate America has to pay
• 14:50
  Speaker 2: a little bit like we do for financing projects and
• 14:53
  Speaker 2: different things and services. That's exactly what that means. So
• 14:57
  Speaker 2: good JAWS report now equals bad interest rate, which, in
• 15:02
  Speaker 2: my opinion, is good interest rate. No interest rate move
• 15:05
  Speaker 2: is good interest rate move because any time... You're playing
• 15:07
  Speaker 2: around with something artificial in our economy. You win the
• 15:11
  Speaker 2: battle and you lose the war. So I'm just calling
• 15:14
  Speaker 2: it like I see it. It's bonkers to me. I
• 15:18
  Speaker 2: think it was used for big money to have an
• 15:19
  Speaker 2: excuse to run the market down. But at the end
• 15:24
  Speaker 2: of the day, it did go down based on that.
• 15:27
  Speaker 2: And then the follow-up was Iran and the United States
• 15:31
  Speaker 2: and Israel all went out each other again. And there
• 15:36
  Speaker 2: clearly is not a ceasefire. I don't know. For me,
• 15:39
  Speaker 2: it's like when you say there's a ceasefire and you're
• 15:43
  Speaker 2: still bombing each other, that to me is not a ceasefire.
• 15:45
  Speaker 2: I don't know. I don't know. It's like almost we
• 15:50
  Speaker 2: speak different languages now after COVID. It's unbelievable to me. Yeah, yeah.
• 15:54
  Speaker 1: A ceasefire doesn't mean you keep on firing. I always
• 15:58
  Speaker 1: took it literally. But apparently it's different is what you're saying.
• 16:02
  Speaker 2: There's so many, like, men aren't women anymore, cops are bad,
• 16:05
  Speaker 2: criminals are good. I feel like I live in a
• 16:08
  Speaker 2: bizarre world. Jaws report equals bad. Great Jaws report equals bad,
• 16:13
  Speaker 2: bad market. I live in a backwards world.
• 16:15
  Speaker 1: What effect, if any, does this new Fed chairman going
• 16:19
  Speaker 1: to have? I mean, is that, and what are your
• 16:21
  Speaker 1: thoughts about it?
• 16:24
  Speaker 2: Well, from a greed standpoint, he's good for me, he's
• 16:27
  Speaker 2: good for corporate America. You know, corporate America getting, okay,
• 16:30
  Speaker 2: let me back up why I'm saying this. I think,
• 16:34
  Speaker 2: you know, he is, without saying wink-wink, is going to
• 16:37
  Speaker 2: do what Trump pleases, okay? I think the reason why
• 16:40
  Speaker 2: Jerome Powell and Trump didn't get along is because Jerome
• 16:42
  Speaker 2: Powell was basically his own man, which you've got to
• 16:45
  Speaker 2: give a lot of credit for. In addition to that,
• 16:48
  Speaker 2: I think he swung a little bit left, and I
• 16:50
  Speaker 2: think he probably did things in spite of Trump.
• 16:55
  Speaker 1: It seemed to me, and I would want to ask
• 16:57
  Speaker 1: you this, it seemed to me he navigated the economy well.
• 17:01
  Speaker 1: pretty good during some difficult times.
• 17:04
  Speaker 2: Yes.
• 17:05
  Speaker 1: I mean, I can't look at him and say, boy,
• 17:08
  Speaker 1: this guy did a lousy job. We had some difficult
• 17:11
  Speaker 1: times when he was running a Fed, and it seemed
• 17:13
  Speaker 1: like we didn't have any major disruptions with him at
• 17:18
  Speaker 1: the helm.
• 17:19
  Speaker 3: Would you agree?
• 17:19
  Speaker 2: I couldn't agree more. I couldn't agree more. I'm a
• 17:23
  Speaker 2: guy who calls it like I see it. With or
• 17:26
  Speaker 2: against him, I agree with that sentiment totally. It's a
• 17:30
  Speaker 2: math thing, and the math says he eased into it
• 17:34
  Speaker 2: to where people forget how bad 2022 was, and that's
• 17:38
  Speaker 2: because they had raised interest rates too fast, right? So
• 17:43
  Speaker 2: he gradually brought them down to what I think is
• 17:45
  Speaker 2: an equilibrium, which is fair. Hey, I think six and
• 17:48
  Speaker 2: a quarter, six and a half percent for a mortgage
• 17:49
  Speaker 2: loan is fair. I know everybody wants three, four. That's
• 17:53
  Speaker 2: what I got. Hell, if I could refinance my building
• 17:55
  Speaker 2: at four right now, I'd do it today. But my
• 17:57
  Speaker 2: point is... But 6% is fair, which is what I'm paying.
• 18:03
  Speaker 2: You get what I'm saying? Yes. So I think that
• 18:07
  Speaker 2: he eased it to where he didn't create more superinflation.
• 18:11
  Speaker 2: In the long run, I think he probably helped Trump.
• 18:14
  Speaker 2: But I think Trump is in a situation where he's
• 18:17
  Speaker 2: trying to spend himself out of inflation. And maybe that
• 18:20
  Speaker 2: will work. Maybe it won't. One of the things that
• 18:23
  Speaker 2: I know that they're doing behind the scenes in the
• 18:24
  Speaker 2: long run, that's what Ed Scruggs, remember the guy that
• 18:27
  Speaker 2: I had on the show, Scott and Gabe and those guys,
• 18:30
  Speaker 2: they think that Trump might be right here because with
• 18:33
  Speaker 2: AI taking over, this is the chess move, I think,
• 18:37
  Speaker 2: that they're playing, J.D. Vance and the Trump party. I
• 18:40
  Speaker 2: think that with AI kind of taking a lot of jobs,
• 18:44
  Speaker 2: that's going to affect the inflation, right? Because now a
• 18:48
  Speaker 2: jobs reporter should start to come down, which would give
• 18:54
  Speaker 2: reason for decreasing interest rates in the future. We think
• 18:58
  Speaker 2: that is the chess game as money managers, as fund managers.
• 19:01
  Speaker 2: Can't prove it, but really on the cover of the magazine,
• 19:04
  Speaker 2: what they're doing doesn't make sense. If they want to
• 19:06
  Speaker 2: decrease interest rates, it typically, and Andrew would verify this,
• 19:10
  Speaker 2: that typically is going to cause more inflation. So the
• 19:13
  Speaker 2: decrease interest rates usually, now I think that the counterbalance,
• 19:17
  Speaker 2: like I said, is with AEI coming into existence and
• 19:21
  Speaker 2: really starting to take white-collar jobs and gray-collar jobs, I
• 19:24
  Speaker 2: think it's a counterbalance with the interest rate decrease. I
• 19:27
  Speaker 2: think that's how they're going to pull it off. That's
• 19:29
  Speaker 2: a complete theory. I have no data to support that.
• 19:35
  Speaker 3: Wouldn't that be interesting?
• 19:36
  Speaker 1: I mean, there was talk where when you're looking at
• 19:41
  Speaker 1: the odds, they were saying there's a 40% chance of
• 19:44
  Speaker 1: an interest rate increase, a 40% chance of that happening. Listen,
• 19:50
  Speaker 1: i would be the guy that would say don't touch
• 19:52
  Speaker 1: it at all if you know keep it where it
• 19:54
  Speaker 1: is or lower it but certainly a 40 increase would.
• 19:58
  Speaker 3: Be what it would i think be troubling to.
• 20:01
  Speaker 2: The economy yeah that would be catastrophic i i i
• 20:06
  Speaker 2: I would guess that that equals a minus $ 3, 000 on
• 20:10
  Speaker 2: the Dow Jones, maybe a minus $ 1, 500 on the NASDAQ.
• 20:14
  Speaker 2: I think that is devastating for the market if they
• 20:18
  Speaker 2: do that.
• 20:19
  Speaker 1: Over all these years, John Arnold's our guest, Money Talks,
• 20:22
  Speaker 1: News Radio 570. Over all these years, in the many,
• 20:26
  Speaker 1: many years that you've dealt with the stock market, what
• 20:30
  Speaker 1: you're seeing right now, just this volatility, and Joe uses
• 20:34
  Speaker 1: the word parabolic, you know, stocks are parabolic in many cases.
• 20:39
  Speaker 1: What is your, I mean, is, how do I phrase this?
• 20:44
  Speaker 1: Is it a bothersome time period? when you look at it,
• 20:49
  Speaker 1: how do you assess this? I mean, it's good, I
• 20:51
  Speaker 1: guess for the hedge fund, but it's, it's weird is
• 20:55
  Speaker 1: what I'm trying to say.
• 20:57
  Speaker 2: Well, what's weird is we're running in, we're going like,
• 21:00
  Speaker 2: I said this 10 years on 10 years ago on
• 21:03
  Speaker 2: the show, we were doing together on Monday is we're
• 21:06
  Speaker 2: going into the, to the, to a new paradigm of economy.
• 21:10
  Speaker 2: And now it's here. And that paradigm is we're shifting
• 21:13
  Speaker 2: from human to, to computer and robots. Right.
• 21:17
  Speaker 1: Now, bear with me for one minute, because I want
• 21:19
  Speaker 1: you to finish a thought coming up here, because we
• 21:22
  Speaker 1: ended a program and had some calls on it the
• 21:24
  Speaker 1: next day. When I believe you said, and correct me
• 21:28
  Speaker 1: if I'm wrong, AI... really either scares you or bothers
• 21:33
  Speaker 1: you or you weren't keen on it.
• 21:36
  Speaker 3: Do you remember ending the program with that once?
• 21:38
  Speaker 2: It scares the manure out of me. It scares the
• 21:40
  Speaker 2: manure out of me. I'll straight up tell you.
• 21:41
  Speaker 1: And can you elaborate? You ended a program once and
• 21:47
  Speaker 1: you said that. The following day I had a couple
• 21:49
  Speaker 1: of calls on that because... We ran out of time.
• 21:53
  Speaker 1: Would you be willing to talk a little bit more
• 21:55
  Speaker 1: about that tonight?
• 21:57
  Speaker 2: I would love to. I would love to.
• 21:58
  Speaker 3: All right.
• 21:59
  Speaker 1: Start, and then when we get to our headlines, well,
• 22:02
  Speaker 1: I tell you what, just pause, and then we'll cover
• 22:03
  Speaker 1: that after the headlines. All right. I want John to
• 22:07
  Speaker 1: address that. And folks, those of you that called me
• 22:10
  Speaker 1: the next day said, well, what did he mean by that? Well,
• 22:12
  Speaker 1: I guess you'll find out coming up. This is Money
• 22:15
  Speaker 1: Talks with John Arnold. We'll tell you about his hedge
• 22:17
  Speaker 1: fund coming up. We'll have him address AI. We'll tell
• 22:20
  Speaker 1: you about his hedge fund. It's what John is doing
• 22:22
  Speaker 1: right now. Tell you about the criteria. Tell you about
• 22:25
  Speaker 1: how many people can get into it. Tell you everything
• 22:27
  Speaker 1: about the hedge fund coming up, including how you can
• 22:29
  Speaker 1: be a participant in it if you meet the criteria.
• 22:31
  Speaker 1: That's all coming up in the second half of the
• 22:33
  Speaker 1: program here on NewsRadio 570 WKBN. This is Money Talks
• 22:38
  Speaker 1: with John Arnold. We have pause for the headlines. That's
• 22:41
  Speaker 1: coming up next, and then we'll come back with segment
• 22:43
  Speaker 1: number two. John Arnold, Money Talks. It's Thursdays at 6
• 22:46
  Speaker 1: here on NewsRadio 570 WKBN. On a beautiful Thursday evening,
• 22:50
  Speaker 1: it's 81 degrees. John answers the AI question, talks about
• 22:54
  Speaker 1: the hedge funds, and more coming up on Segment 2.
• 22:58
  Speaker 1: All right, from NewsRadio 570, WKVN, Segment 2 with John
• 23:01
  Speaker 1: Arnold on Money Talks Thursdays at 6. We'll get into
• 23:05
  Speaker 1: the hedge fund coming up in a bit. Explain what
• 23:07
  Speaker 1: you meant when you ended that program with that cliffhanger,
• 23:10
  Speaker 1: I'm going to say a couple weeks ago, what you
• 23:12
  Speaker 1: said negatively about AI.
• 23:16
  Speaker 2: Yeah, I learned from the best on the cliffhanger. Hey,
• 23:19
  Speaker 2: here's the thing, man. AI scare means high in 2026,
• 23:23
  Speaker 2: and it's fueled by layoffs. Some executive warnings, which I'm
• 23:26
  Speaker 2: going to talk about that. Tech adoption, which I'm going
• 23:30
  Speaker 2: to talk about here in a second. But you've got
• 23:33
  Speaker 2: a perfect storm coming here, and here's what scares me.
• 23:37
  Speaker 2: Let me tell you what scares me, because I lived
• 23:39
  Speaker 2: through this a little bit already, but everybody was wrong
• 23:43
  Speaker 2: on the outcome, and I think... I think it's not
• 23:47
  Speaker 2: the case here. I live for the dot-com bubble. I
• 23:51
  Speaker 2: started my investment career in 2000, right? Right before the
• 23:55
  Speaker 2: start of the second worst bear market ever, which is crazy.
• 23:58
  Speaker 2: You can talk about bad timing. But during that crisis,
• 24:03
  Speaker 2: I remember before the crisis, everybody's winning on these dot-com stocks.
• 24:08
  Speaker 2: And where I'm going with it is, like, all of
• 24:09
  Speaker 2: a sudden, you went from making 8% on a mutual
• 24:13
  Speaker 2: fund now to 5.75. You went from making a big rip,
• 24:18
  Speaker 2: which is a huge commission on stock, to now TD
• 24:21
  Speaker 2: Ameritrade and StockTrade and E-Trade and all those guys, which
• 24:24
  Speaker 2: got sucked up, by the way. But back then, there
• 24:26
  Speaker 2: was a dot-com bubble. There was a day trading slash
• 24:30
  Speaker 2: stock trading custodian popping up online to where now, all
• 24:33
  Speaker 2: of a sudden, you need a stockbroker. So our... our industry,
• 24:37
  Speaker 2: the investment industry, freaked out all of a sudden. What
• 24:39
  Speaker 2: are we going to do? You know, everybody's going to
• 24:42
  Speaker 2: lose their, you know, everybody's going to leave us. They
• 24:44
  Speaker 2: don't need us anymore, et cetera. And all the big names,
• 24:47
  Speaker 2: Merrill Lynch, UBS, everybody that was anybody back there and
• 24:51
  Speaker 2: had that scare. And guess what happened? The truth is,
• 24:55
  Speaker 2: nothing changed. It just actually started to create more investors
• 24:59
  Speaker 2: is what happened. And they figured, and then the investors
• 25:01
  Speaker 2: started to do it on their own. made money in
• 25:04
  Speaker 2: in the good markets like everybody does and completely lost
• 25:07
  Speaker 2: their shirt and i mean everything in two thousand one
• 25:10
  Speaker 2: two thousand two so all of a sudden people were
• 25:13
  Speaker 2: attracted back to the stock to to stockbrokers investment guys
• 25:16
  Speaker 2: like me there wasn't a dead end it actually helped
• 25:20
  Speaker 2: us and and scaled us to a different level. I
• 25:24
  Speaker 2: still hate it. I wish things were old, but I'm
• 25:26
  Speaker 2: old and cantankerous and old-fashioned. I still read the Wall
• 25:29
  Speaker 2: Street Journal paper version on that guy. Okay, fast forward.
• 25:33
  Speaker 2: This is what scares me. AI is the stop sign.
• 25:37
  Speaker 2: It is the end. It's genuinely, genuinely replacing us. It
• 25:43
  Speaker 2: is better, it functions better than any human being you
• 25:47
  Speaker 2: can imagine. It's like a billion times faster thinking than
• 25:51
  Speaker 2: a human brain. It's very cost efficient. Companies are in the...
• 25:56
  Speaker 2: Capitalism is defeating capitalism. We're saying bring on AI because
• 26:01
  Speaker 2: we're inventors. We're commerce, right? And here's the thing that's
• 26:05
  Speaker 2: killing us. Like I talked to you about a couple
• 26:07
  Speaker 2: weeks ago in the program, I went to Congress... talked
• 26:10
  Speaker 2: with Bill Johnson, took him out to dinner, me and
• 26:12
  Speaker 2: Chuck George and a bunch of people, and he said,
• 26:16
  Speaker 2: just because we can do it doesn't mean we should
• 26:17
  Speaker 2: do it. And what he meant by that is we
• 26:20
  Speaker 2: should probably stop this crazy technology that's going to take
• 26:23
  Speaker 2: over our commerce and our economy before it's too late,
• 26:27
  Speaker 2: because once it's too late, the cat's out of the bag.
• 26:29
  Speaker 2: It's over. It's over. We're going to socialism. So he
• 26:33
  Speaker 2: was right, but here's the problem. The big companies, the
• 26:36
  Speaker 2: countries that we compete with, Russia, China, India, which is
• 26:39
  Speaker 2: the second largest population in the world, they're on our tails.
• 26:43
  Speaker 2: They might even be better at AI. And if we
• 26:46
  Speaker 2: don't compete with them, if we don't meet their standard
• 26:50
  Speaker 2: of AI, we're going to be left behind, and they're
• 26:51
  Speaker 2: going to get us anyway. So we're kind of stuck
• 26:55
  Speaker 2: in this trap. And I see the only way out
• 26:57
  Speaker 2: of it, and Elon Musk has even talked about it,
• 27:00
  Speaker 2: is guaranteed income, which I'm 100% against. Because once you
• 27:04
  Speaker 2: get guaranteed income, you've taken entrepreneurialism and you've killed it.
• 27:08
  Speaker 2: You've taken artistic ability and creative ability and you've killed it.
• 27:11
  Speaker 2: You've halted everything that makes our nation great. You go
• 27:15
  Speaker 2: to New York City, like I went here with the
• 27:17
  Speaker 2: kids about four months ago. You see the greatness that
• 27:20
  Speaker 2: was built from people who came over here the right
• 27:22
  Speaker 2: way with a nickel and a loaf of bread and
• 27:25
  Speaker 2: how Jewish people went from going from horrible things that
• 27:28
  Speaker 2: happened to them over in Germany and coming here and
• 27:30
  Speaker 2: creating a great business. There's so many great things that
• 27:33
  Speaker 2: happened from creativity that are going to come to a
• 27:35
  Speaker 2: screeching halt. So what really bothers me is that companies
• 27:39
  Speaker 2: have announced approximately 87,000 job cuts to AI in the
• 27:49
  Speaker 2: first months of 2006. I want you to think about it.
• 27:51
  Speaker 2: 90,000 jobs in the first five months of 2006 have
• 27:57
  Speaker 2: been cut due to AI.
• 27:59
  Speaker 3: Tech alone has.
• 28:00
  Speaker 2: 120,000, 150,000 layoffs year to date. Just tech. Meta, Amazon, Cisco, Intuit, Block, etc.
• 28:07
  Speaker 2: Those guys. That's what scares me. That's the future of America.
• 28:11
  Speaker 2: And no one's doing a damn thing to stop it
• 28:13
  Speaker 2: because of greed. And that's what scares me. There is no, well,
• 28:18
  Speaker 2: the AI is going to fail us and then we're
• 28:20
  Speaker 2: going to want human beings again. No, the AI is
• 28:22
  Speaker 2: only going to get better. We're in the infestation of
• 28:25
  Speaker 2: this thing, man. Infestation. And when Elon Musk says you
• 28:28
  Speaker 2: better stop in his tracks or it's going to destroy us,
• 28:32
  Speaker 2: guess what? I'm taking Elon Musk for $ 1, 000 every single time.
• 28:36
  Speaker 2: Every time I'm voting on that guy. And that's what
• 28:39
  Speaker 2: scares me. And I hope I'm not overselling it, but
• 28:42
  Speaker 2: show me that I'm wrong. Seriously. I want somebody to
• 28:44
  Speaker 2: argue me with objective fact that I'm wrong.
• 28:47
  Speaker 1: Well, first of all, those numbers that you just gave,
• 28:50
  Speaker 1: those aren't projections. Those are numbers that have already happened,
• 28:53
  Speaker 1: is what you're saying, in the beginnings of 2026 here,
• 28:56
  Speaker 1: in the early stages of AI.
• 28:58
  Speaker 3: Did I get that correct?
• 28:59
  Speaker 5: Yep.
• 29:00
  Speaker 1: I mean, those numbers, I mean, I'm sitting back listening
• 29:03
  Speaker 1: to those numbers. They're significant.
• 29:07
  Speaker 3: 90,000, 120,000.
• 29:08
  Speaker 1: That's a lot of people that lost a lot of jobs.
• 29:11
  Speaker 1: And in most of those cases, I'm going to speculate
• 29:14
  Speaker 1: pretty decent paying jobs.
• 29:18
  Speaker 2: Pretty decent. What do you think Matt is paying? What
• 29:21
  Speaker 2: do you think Apple and Google are paying?
• 29:23
  Speaker 3: Okay, so decent paying– okay, good paying jobs.
• 29:27
  Speaker 1: And just bear with me one step further. And it's
• 29:30
  Speaker 1: going to be difficult for those people to be able
• 29:33
  Speaker 1: to rebound in something close to what they had.
• 29:37
  Speaker 3: Would you agree with that?
• 29:39
  Speaker 2: Yes.
• 29:40
  Speaker 3: And so then..
• 29:41
  Speaker 2: I'm living... Go ahead. I'm currently living... And this is... Listen,
• 29:47
  Speaker 2: Rich Ferenczak said something to me the other day, which
• 29:50
  Speaker 2: is true. Here's the answer. I didn't answer his question.
• 29:54
  Speaker 2: He said, John, you have this big check and create
• 29:57
  Speaker 2: a nice wealth for yourself. Why don't you just sit
• 29:59
  Speaker 2: down and enjoy your money? Why don't you just enjoy
• 30:02
  Speaker 2: your life? You know what the answer is? Because I
• 30:05
  Speaker 2: don't think that's a lot of money anymore. I don't
• 30:07
  Speaker 2: think my kids are going to have a job, and
• 30:09
  Speaker 2: I don't think they're going to have a home. I
• 30:10
  Speaker 2: think you're going to have 10% of this nation that...
• 30:14
  Speaker 2: is in the high net worth, like Europe, that owns
• 30:17
  Speaker 2: the voting and really controls the country, and the rest
• 30:20
  Speaker 2: of us are going to be on socialism. I don't
• 30:22
  Speaker 2: want my kids on socialism. That's why I'm trying to
• 30:25
  Speaker 2: go to the next level of the hedge fund. That's
• 30:27
  Speaker 2: why I'm still working hard. And that's the answer. I
• 30:29
  Speaker 2: didn't get the answer to that. What scares me is
• 30:32
  Speaker 2: what I'm talking about, and I'm living it. Normally, people
• 30:35
  Speaker 2: that got what I got a couple years ago, which
• 30:38
  Speaker 2: I'm very fortunate to, would just say, my God, I
• 30:40
  Speaker 2: hit the lottery. You know, I live happily, you know,
• 30:44
  Speaker 2: live it up.
• 30:45
  Speaker 3: Well, let's be realistic. Built through years and years and
• 30:48
  Speaker 3: years of hard work. Let's be realistic.
• 30:50
  Speaker 2: Yes. All right.
• 30:51
  Speaker 3: No, no, no.
• 30:52
  Speaker 2: I earned every dollar.
• 30:53
  Speaker 6: All right.
• 30:53
  Speaker 2: Be modest. Right. I'm just saying I don't have a
• 30:56
  Speaker 2: quit in me because I'm scared of AI. That's the truth.
• 30:59
  Speaker 2: I am scared of where we're going in this country.
• 31:01
  Speaker 2: That is 100% the accurate truth. I hate using that
• 31:05
  Speaker 2: because I hate the word scared. I hate it. All right.
• 31:07
  Speaker 1: But when you were talking about what troubles you about AI...
• 31:12
  Speaker 1: it almost sounded like it's going to suck capitalism away
• 31:16
  Speaker 1: to a large extent. You were talking about people would
• 31:18
  Speaker 1: come here and you still see it today, not just
• 31:21
  Speaker 1: back then. You still see it today that people who
• 31:24
  Speaker 1: do come here, whether legally or illegally, many of them
• 31:28
  Speaker 1: come here, they start a business, you know, they might
• 31:30
  Speaker 1: become house painters or they might open a Chinese restaurant
• 31:34
  Speaker 1: and they work from morning till night and they become
• 31:37
  Speaker 1: very successful because they have a work ethic. It's still
• 31:40
  Speaker 1: happening today. here in this country. And you're saying, if
• 31:44
  Speaker 1: I got you correctly, a lot of that will evaporate
• 31:47
  Speaker 1: because of AI.
• 31:50
  Speaker 2: Absolutely. Honestly, how many of us can... Do landscaping. How
• 31:55
  Speaker 2: many of us can be plumbers, electricians? Listen, I can't
• 31:57
  Speaker 2: even change my oil right. Right. There's guys like me
• 32:01
  Speaker 2: that you worry about finance and medicine. I'm your guy.
• 32:04
  Speaker 3: But wait a second.
• 32:05
  Speaker 1: It still takes people to– if you have people that
• 32:09
  Speaker 1: can't afford to say, I want to redo my bathroom.
• 32:12
  Speaker 1: Because they don't have the money, because they don't have
• 32:14
  Speaker 1: a job. Now that guy who thinks he's got job
• 32:17
  Speaker 1: security being a plumber doesn't have job security anymore. You
• 32:22
  Speaker 1: have said over the years, we're talking with John Arnold,
• 32:25
  Speaker 1: we're a consumer-driven economy.
• 32:27
  Speaker 3: Well, it's a circle.
• 32:28
  Speaker 1: If you don't have consumers that have disposable income to
• 32:31
  Speaker 1: hire the plumber or electrician, you make do with what you.
• 32:34
  Speaker 3: Have, right?
• 32:37
  Speaker 2: Yes, that's why China has never called our debt because
• 32:40
  Speaker 2: of our tax system. We have the best commerce in
• 32:42
  Speaker 2: the entire world. They're counting on us to buy their junk.
• 32:46
  Speaker 2: And guess what happens when we can't buy their junk anymore?
• 32:48
  Speaker 2: All hell breaks loose. So there's a deeper thinking here.
• 32:53
  Speaker 2: There's a bigger chess move here. And what sucks about
• 32:56
  Speaker 2: our society is men aren't men anymore. They've lost their fight.
• 33:00
  Speaker 2: Men are not.
• 33:01
  Speaker 3: Fighting for their families. But you can't fight technology, can you?
• 33:06
  Speaker 3: I mean, where do you go?
• 33:07
  Speaker 2: I think you can if you had enough of us.
• 33:09
  Speaker 1: AI is out there. I thought you gave a great analysis.
• 33:14
  Speaker 1: You're competing against China and any of these other countries.
• 33:17
  Speaker 1: What do you do to prevent what is going to
• 33:20
  Speaker 1: happen based on what you're saying?
• 33:22
  Speaker 3: How do you stop that?
• 33:24
  Speaker 2: I can right now tell you what I would do.
• 33:27
  Speaker 2: I would dedicate every ounce of our budget towards AI.
• 33:30
  Speaker 2: to war, and to self-defense, and to maybe higher-end technology
• 33:35
  Speaker 2: for computers with semiconductors and whatever, but I would not
• 33:40
  Speaker 2: let any further implementation of technology like that flow into
• 33:44
  Speaker 2: our trades. When I say trades, I mean all trades.
• 33:47
  Speaker 2: I mean computers, secretarial, accounting. Let me tell you something.
• 33:53
  Speaker 2: AI is going to put the average financial guy out
• 33:55
  Speaker 2: of business. It's going to put accounting out of business.
• 33:59
  Speaker 2: It's going to put lawyers out of business who don't
• 34:01
  Speaker 2: have creative specialty law. If you can go to AI
• 34:06
  Speaker 2: and do an estate plan for $ 300 with AI, you're
• 34:12
  Speaker 2: not going to pay so-and-so $ 2, 500 or $ 5, 000 unless you're
• 34:14
  Speaker 2: small-town America. It just doesn't work like that. That stuff
• 34:18
  Speaker 2: is coming to an end. We need to halt that
• 34:20
  Speaker 2: right now. We need to say enough is enough. But
• 34:23
  Speaker 2: guess what? When I'm talking about men, I'm saying men
• 34:25
  Speaker 2: and women, we don't have that fight. We're more worried
• 34:27
  Speaker 2: about the Dan Browns game and going out to BW3s
• 34:29
  Speaker 2: for a couple beers and joining a soccer game. None
• 34:33
  Speaker 2: of that's going to matter unless this comes to an end.
• 34:35
  Speaker 2: I'm talking real talk here.
• 34:37
  Speaker 3: I'm not a human good guy.
• 34:39
  Speaker 2: I'm not a conspiracy theorist guy.
• 34:40
  Speaker 3: And you're talking in a relatively short period of time, correct?
• 34:44
  Speaker 2: Yes. Yes. Yes.
• 34:47
  Speaker 3: They're saying, listen, I'm online right now.
• 34:49
  Speaker 2: I don't know who these people are. The surveys show
• 34:52
  Speaker 2: that 40% to 52% of all global U.S. workers fear
• 34:55
  Speaker 2: AI job loss, nearly double from 2024 in polls. So
• 35:01
  Speaker 2: just in two years, one and a half years, actually, 50%
• 35:04
  Speaker 2: of the global, not just U.S. global workers, fear AI replacement.
• 35:08
  Speaker 2: I want you to think about that. The BCG estimates 50%
• 35:12
  Speaker 2: to 55% of U.S. jobs will be augmented or reshaped
• 35:16
  Speaker 2: by AI in the next two to three years. That's 2028.
• 35:19
  Speaker 2: That's when Trump's term is up. That's how fast things
• 35:22
  Speaker 2: are changing.
• 35:24
  Speaker 3: Listen to the number that you just gave, though. That's
• 35:26
  Speaker 3: a huge number.
• 35:29
  Speaker 2: Yep. Not everybody can be a nurse. Not everybody can
• 35:32
  Speaker 2: mow lawns. Not everybody can fix light sockets. There's half
• 35:36
  Speaker 2: of us that need help. a technical job that requires
• 35:41
  Speaker 2: us to not have to compete the AI. I'm telling you,
• 35:43
  Speaker 2: my man, this is a real deal. When, when Rich said,
• 35:46
  Speaker 2: why are you not enjoying your money? This is why
• 35:48
  Speaker 2: I'm not enjoying my money. I'll work over something deeper.
• 35:51
  Speaker 2: I see it is on the wall. I am not
• 35:54
  Speaker 2: worried about the Dan Buckeyes game anymore or the Browns.
• 35:57
  Speaker 2: You know what I'm worried about? My kids surviving and
• 35:59
  Speaker 2: you are worried about not being a government puppet.
• 36:04
  Speaker 1: And just if it goes to direction that it's heading
• 36:08
  Speaker 1: right now, then you're saying to me, John Arnold here tonight,
• 36:12
  Speaker 1: Money Talks, you're saying if AI continues to go in
• 36:15
  Speaker 1: a direction it's going, significant job loss, how will these
• 36:19
  Speaker 1: people make a living? How will they pay their bills?
• 36:23
  Speaker 1: Then you start talking about people on the dole or
• 36:25
  Speaker 1: basic income because the jobs are evaporated.
• 36:29
  Speaker 2: Is that? Accurate.
• 36:31
  Speaker 3: It's going to be a necessity.
• 36:33
  Speaker 2: Right in front of your very eyes, everybody. They introduced
• 36:37
  Speaker 2: this damn digital coin. Do you think that was by coincidence?
• 36:41
  Speaker 2: If you had introduced a digital coin when computers first
• 36:43
  Speaker 2: came out in 1995 where they were actually relevant, people
• 36:46
  Speaker 2: would have laughed at you. They'd be like, yeah, yeah,
• 36:49
  Speaker 2: what's it worth? Nothing. It's just a scam. Now people
• 36:51
  Speaker 2: are like, well, maybe we'll use Bitcoin to pay our taxes.
• 36:54
  Speaker 2: It's insanity. But what they don't really understand is that
• 36:57
  Speaker 2: is a feeder system for socialism. Algorithms are a feeder
• 37:01
  Speaker 2: for socialism. When you displace cash for bits or whatever
• 37:08
  Speaker 2: they're going to give you, and they give you a
• 37:10
  Speaker 2: condo and public transportation, and they control your health care
• 37:15
  Speaker 2: and your gas like they did in Canada. Guys, pay
• 37:19
  Speaker 2: attention here. During COVID, when the truckers refused to bow
• 37:22
  Speaker 2: down for the COVID shot, they shut their gas off.
• 37:25
  Speaker 2: They shut their paychecks off. You don't think that this
• 37:29
  Speaker 2: is common with AI and socialism? And I'm not a nutcase.
• 37:33
  Speaker 2: I'm not a conspiracy nutcase. It's right in front of
• 37:35
  Speaker 2: your eyes. That's what's going on with the globalization of
• 37:38
  Speaker 2: our world. And no one's doing a damn thing about it.
• 37:42
  Speaker 2: No one.
• 37:43
  Speaker 3: Wow.
• 37:43
  Speaker 1: I mean, it's just unbelievable. It's unreal that that's where
• 37:48
  Speaker 1: it's heading. And when you're talking this way, for those
• 37:50
  Speaker 1: folks who are listening, because I got a lot of
• 37:52
  Speaker 1: feedback on that that one time, I just want to emphasize,
• 37:55
  Speaker 1: you're not talking in 10 years. You're talking next year.
• 37:59
  Speaker 2: I'm talking now. No, no, no. I'm talking now. Right.
• 38:03
  Speaker 2: I'm talking now. As we speak, it's happening.
• 38:07
  Speaker 3: And, you know, you're talking.
• 38:10
  Speaker 2: Listen to what Elon Musk is saying. Yeah.
• 38:12
  Speaker 1: And here's what I'm thinking. As you're talking, you know,
• 38:16
  Speaker 1: like take Social Security. It takes existing workers that are
• 38:19
  Speaker 1: paying into the system to keep it going and keep
• 38:22
  Speaker 1: it afloat. You follow me? I mean, you understand.
• 38:24
  Speaker 2: Exactly. Yes.
• 38:27
  Speaker 1: Now you've eliminated a lot of those workers that don't
• 38:30
  Speaker 1: exist that aren't paying in. How does that system stay afloat?
• 38:34
  Speaker 1: How does Medicare for our elderly work? stay afloat if
• 38:39
  Speaker 1: it's paid for by taxes of existing workers the money
• 38:43
  Speaker 1: i paid into social security went out to people that
• 38:45
  Speaker 1: were retired at that time well if there aren't people
• 38:48
  Speaker 1: if i don't turn around and look behind me and
• 38:50
  Speaker 1: there aren't enough workers there what happens the entire system.
• 38:56
  Speaker 2: You said it you said it that's why like I
• 38:59
  Speaker 2: grew up under a union, so my dad's job was
• 39:02
  Speaker 2: protected by UAW. The unions do some negative, yes, they do,
• 39:05
  Speaker 2: but their good always are bad. So why I'm telling
• 39:07
  Speaker 2: you this, if I was a union guy, I was
• 39:09
  Speaker 2: the head of the union, I would be all over this.
• 39:12
  Speaker 2: Who's going to employ us when the jobs are gone?
• 39:15
  Speaker 2: Who's going to employ us? Are there electricians? Are there plumbers? Maybe,
• 39:19
  Speaker 2: but there's only so many of you to go around.
• 39:21
  Speaker 2: The happy days are coming to an end.
• 39:24
  Speaker 1: If you get an abundance of people all in the
• 39:26
  Speaker 1: trades guess what happens to the money that they make
• 39:29
  Speaker 1: i mean supply and demand each other right exactly right
• 39:32
  Speaker 1: and if there's not enough customers to purchase those services
• 39:37
  Speaker 1: uh that that have decent jobs that that says everything
• 39:40
  Speaker 1: you need to know I mean, really, this is really eye-opening.
• 39:44
  Speaker 1: With all due respect, it's something I have to address
• 39:46
  Speaker 1: on a regular program as well.
• 39:48
  Speaker 3: Because, I mean, the.
• 39:49
  Speaker 1: Numbers that you gave just tonight, did I hear them right?
• 39:53
  Speaker 1: 90,000 jobs here, 120,000 in this sector. I mean, roughly
• 39:57
  Speaker 1: 200,000 jobs in that ballpark?
• 40:00
  Speaker 2: Gone? Hey, 120,000 to 150,000 year-to-date. Gone. We're only halfway
• 40:06
  Speaker 2: through the year. meta amazon cisco into a block that
• 40:10
  Speaker 2: came from liberal cnbc okay so that's not like it's
• 40:14
  Speaker 2: that's not like scary town us and i'm giving you
• 40:17
  Speaker 2: literally trading economics.com stuff.
• 40:20
  Speaker 1: So when he's giving you bs data so when elon
• 40:23
  Speaker 1: musk was early on you were right there but beside
• 40:26
  Speaker 1: him saying listen to him he's he's basically saying we
• 40:30
  Speaker 1: can't we better think this through because it can be
• 40:34
  Speaker 1: both a bad thing as far as government control, government surveillance.
• 40:38
  Speaker 3: And what are we going to do with all these people?
• 40:42
  Speaker 2: I'll give you one better, Ron, because I always give
• 40:44
  Speaker 2: you the hardcore truth, even if it makes you look foolish.
• 40:47
  Speaker 2: I really didn't even know about AI. I just knew, like, oh,
• 40:50
  Speaker 2: this is the future. This is like four years ago.
• 40:51
  Speaker 2: This is the future. You know, what's coming, maybe robots
• 40:56
  Speaker 2: will replace us, maybe when I'm dead, and hopefully my
• 40:58
  Speaker 2: kids will figure it out. Elon Musk came up on
• 41:02
  Speaker 2: an interview, and he started talking about them. And I
• 41:04
  Speaker 2: really started, because, again, I'm an Elon Musk guy. I
• 41:07
  Speaker 2: really started to pay attention to what this guy was saying.
• 41:09
  Speaker 2: When he's saying, I'm literally scared. He's saying physically, I'm scared.
• 41:14
  Speaker 2: I'm watching it come out of his mouth. We have
• 41:16
  Speaker 2: to stop this thing in its tracks. It's probably the
• 41:19
  Speaker 2: smartest human being that I've ever known of saying this.
• 41:23
  Speaker 2: who has nothing to gain by saying it. As a
• 41:24
  Speaker 2: matter of fact, he has things to lose. Half his
• 41:28
  Speaker 2: stuff is from AI and robotic technology. He's the guy
• 41:32
  Speaker 2: that shouldn't be saying that stuff. He's saying it. And
• 41:36
  Speaker 2: it really woke me up, and I started doing my
• 41:37
  Speaker 2: own research. And as I'm researching, as I'm watching it,
• 41:41
  Speaker 2: I'm really watching every month more and more and more.
• 41:45
  Speaker 2: More jobs get lost. More jobs get lost. And this
• 41:48
  Speaker 2: AI thing, what's happening is what really woke me up
• 41:51
  Speaker 2: when Grok, G-R-O-K, made a better Grok on its own
• 41:56
  Speaker 2: without Google telling it to do. So that's the AI
• 41:59
  Speaker 2: version of ChatGPT for Google. Google has its own AI
• 42:07
  Speaker 2: search engine, and it thinks 100 times faster than you
• 42:11
  Speaker 2: do as a human. So when it's self-creating a better
• 42:15
  Speaker 2: version of itself, what does that tell you? That is
• 42:19
  Speaker 2: unbelievably scary. Again, I hate using that word. And that's
• 42:22
  Speaker 2: the stuff that keeps me up at night. What are
• 42:24
  Speaker 2: we doing to stop this in its tracks? Because no
• 42:26
  Speaker 2: one has the balls or the brains, I think, to
• 42:29
  Speaker 2: do it. And it has to come from our politicians. R-I-D,
• 42:34
  Speaker 2: I don't care. You've got to stop this thing in
• 42:37
  Speaker 2: its tracks before it ruins the American economy.
• 42:39
  Speaker 3: Do you see any signs of that even happening?
• 42:43
  Speaker 2: Just the opposite. I think that people are kicking it
• 42:46
  Speaker 2: down the road and finding better creative ways to make
• 42:48
  Speaker 2: money off it right now. And create businesses off it.
• 42:52
  Speaker 2: There's actually a school, like literally, you can go to
• 42:54
  Speaker 2: a curriculum at a school and learn how to be
• 42:56
  Speaker 2: an AI scientist of some kind and have all seven
• 43:01
  Speaker 2: or eight of them work against each other to give
• 43:02
  Speaker 2: you the best project. But at the end of the day,
• 43:06
  Speaker 2: they're eventually going to be so good that they replace
• 43:08
  Speaker 2: the person inputting the data. And that's the scary part.
• 43:11
  Speaker 1: We're talking with John Arnold Money Talks. Before I run
• 43:13
  Speaker 1: out of time, talk about the hedge fund, please. So
• 43:17
  Speaker 1: people understand it who are hearing it for the first time.
• 43:19
  Speaker 1: John Arnold has his own hedge fund. His own hedge fund.
• 43:24
  Speaker 1: It can take max out at 100 participants in his
• 43:29
  Speaker 1: own hedge funds and pick it up from there.
• 43:34
  Speaker 2: Well, right now, I think I have like two or
• 43:37
  Speaker 2: three more subscriptions to fulfill. I can get back to
• 43:40
  Speaker 2: taking subscribers now. I had to slow it down. I
• 43:44
  Speaker 2: used to have a big staff. It's just me and
• 43:47
  Speaker 2: another person taking in all these applications. And so I'm
• 43:50
  Speaker 2: going to get back to it. So if you're interested,
• 43:53
  Speaker 2: if you're an accredited investor and you can afford to
• 43:57
  Speaker 2: put money into my hedge fund, you will be a
• 44:00
  Speaker 2: fool not to. It's that good. So... The accreditation is
• 44:04
  Speaker 2: a million dollars in assets outside your residence, or $ 200, 000
• 44:07
  Speaker 2: a year in income, or you and your wife jointly,
• 44:11
  Speaker 2: $ 300, 000 total, or the ability to put $ 200, 000 in at once.
• 44:15
  Speaker 2: If you have $ 200, 000, and it's money that you can risk,
• 44:19
  Speaker 2: and you believe in my skills, put money in my
• 44:23
  Speaker 2: hedge fund because the subscriptions are running out, and that's that.
• 44:27
  Speaker 2: We're beating the market already. I have history of beating
• 44:30
  Speaker 2: the market with our managers. And here's the thing. People
• 44:33
  Speaker 2: keep saying, well, it's a ton of risk. It's not
• 44:35
  Speaker 2: a ton of risk. It's risk if you don't believe
• 44:39
  Speaker 2: in the stock market and you don't believe in the manager.
• 44:41
  Speaker 2: There are hedge funds out there that do private equity.
• 44:43
  Speaker 2: There are funds out there that do extreme risk. I'm
• 44:46
  Speaker 2: just doing what I always used to do, except I'm
• 44:48
  Speaker 2: managing it on a daily basis. I'm using the same
• 44:50
  Speaker 2: exact things I used to do, except I'm managing it
• 44:53
  Speaker 2: throughout the day, taking the gains when I can, putting
• 44:56
  Speaker 2: stopovers when I need to, and just moving on. I'm
• 44:59
  Speaker 2: just constantly managing it and it's kicking out great returns
• 45:04
  Speaker 2: right now.
• 45:04
  Speaker 3: So that's it. All right.
• 45:06
  Speaker 1: Now with that in mind, of course you have assistance.
• 45:09
  Speaker 1: You have some help in addition to you. Just talk
• 45:12
  Speaker 1: briefly about the three other people that are involved. One
• 45:16
  Speaker 1: guy's your compliance guy. The other two guys also assist
• 45:19
  Speaker 1: with the selection of the investments.
• 45:23
  Speaker 2: Yes. Gabe is my operations guy who's on vacation this week. Um,
• 45:28
  Speaker 2: Edward Scrod, who's the, uh, he's a, he's a CTO,
• 45:31
  Speaker 2: chief technology officer. He's the guy that doing the website and, and,
• 45:35
  Speaker 2: you know, the technical technology operations. And there's the superstar.
• 45:39
  Speaker 2: He's the guy helping me manage the money, which Steve
• 45:41
  Speaker 2: and Steve is like, he's the kind of guy you
• 45:44
  Speaker 2: see on a TV show, but he's the real thing. He's, he's,
• 45:47
  Speaker 2: He's way smarter than me, and he's better at it
• 45:49
  Speaker 2: than what I do, and I'm pretty good. So it's
• 45:52
  Speaker 2: that team, and they're doing great for us.
• 45:53
  Speaker 3: And you guys work jointly on it.
• 45:56
  Speaker 1: And if you're interested in the hedge fund, as you said,
• 45:59
  Speaker 1: if you have $ 100, 000 or $ 200, 000 that you can put in,
• 46:03
  Speaker 1: And or you have to meet the other criteria.
• 46:07
  Speaker 3: There's criteria to get into the hedge fund.
• 46:10
  Speaker 2: It's one of.
• 46:11
  Speaker 3: One of three.
• 46:11
  Speaker 2: You don't have to know which one.
• 46:12
  Speaker 5: Of, yep.
• 46:13
  Speaker 3: All right. So one of the three.
• 46:15
  Speaker 1: If you're interested in exploring that more, this is John
• 46:19
  Speaker 1: Arnold's hedge funds that he has started. It officially started
• 46:24
  Speaker 1: June 1st. If you're interested in getting into it, you
• 46:28
  Speaker 1: have to get in during June 1st. an open period
• 46:32
  Speaker 1: during June for the start of you'd be in it
• 46:35
  Speaker 1: in July. In other words, it always starts on the
• 46:38
  Speaker 1: first of the month.
• 46:39
  Speaker 2: People are already in it. They're in it.
• 46:41
  Speaker 7: Right.
• 46:41
  Speaker 2: Yeah. Yeah.
• 46:42
  Speaker 1: And, and when each month comes to an end, like
• 46:45
  Speaker 1: when we get everything at the end of June and yeah,
• 46:49
  Speaker 1: and the auditors go over it all, you can say,
• 46:52
  Speaker 1: here's what we did and here's what our returns were.
• 46:55
  Speaker 1: So people can hear it firsthand where you've gone with
• 46:58
  Speaker 1: your hedge fund managed on an open hourly and daily
• 47:02
  Speaker 1: basis on buying and selling, those of you that are
• 47:06
  Speaker 1: familiar with hedge funds, John Arnold's hedge fund. Now, how
• 47:10
  Speaker 1: do people, and go slow for us, get information about
• 47:14
  Speaker 1: this or contact you about this?
• 47:19
  Speaker 2: They can call us at 330-288-7709, or you can email
• 47:20
  Speaker 2: me at jon.com. period, Arnold at theinvestment.coach. Again, J-O-N, period,
• 47:34
  Speaker 2: Arnold at theinvestment.coach. Phone number 330-288-7709.
• 47:43
  Speaker 1: All right, so that's the website, that's the phone number
• 47:47
  Speaker 1: to give John a call if you would like to..
• 47:49
  Speaker 2: Well, that's the email, yeah.
• 47:50
  Speaker 3: The email, excuse me, and.
• 47:52
  Speaker 1: The phone number to get a hold of John to
• 47:54
  Speaker 1: get involved in his hedge funds. Once there's 100 people
• 47:58
  Speaker 1: in it, then that, it is... closed down at that point.
• 48:01
  Speaker 1: You cannot take any more than 100 people in the
• 48:04
  Speaker 1: hedge fund. John, I appreciate your time as always. First,
• 48:08
  Speaker 1: I appreciate your insight into what's going on economically and
• 48:11
  Speaker 1: what's going on in the market. These are very interesting
• 48:13
  Speaker 1: times as far as anyone knows. So we look forward
• 48:19
  Speaker 1: to talking to you again about that. I appreciate the
• 48:23
  Speaker 1: great insight on AI. I got to talk about that
• 48:26
  Speaker 1: more on my program and what you had to say there.
• 48:29
  Speaker 1: And of course, You know, the hedge fund speaks for itself,
• 48:32
  Speaker 1: and the returns will speak for themselves on what you
• 48:35
  Speaker 1: do there. One more time on the phone number before
• 48:36
  Speaker 1: I get a scoot?
• 48:38
  Speaker 2: Sure. 330-288-7709. No pressure. Give us a call.
• 48:43
  Speaker 3: Thank you, John. Appreciate it. There he is.
• 48:45
  Speaker 2: Thank you.
• 48:46
  Speaker 1: John Arnold's Money Talks, Thursdays, NewsRadio 570 WKBN. What a
• 48:51
  Speaker 1: great insight on AI. And I'm telling you, that hedge
• 48:56
  Speaker 1: fund of his is very interesting. Give him a call.
• 49:04
  Speaker 7: From ABC News, I'm Michelle Franzen. A potential deal to
• 49:08
  Speaker 7: end the war with Iran taking shape. President Trump says
• 49:11
  Speaker 7: there's a conceptual agreement and it could be signed as
• 49:14
  Speaker 7: soon as this weekend. ABC's Louis Martinez says it comes
• 49:17
  Speaker 7: after President Trump vowed to carry out new strikes against Iran.
• 49:20
  Speaker 7: targets tonight. Now called off.
• 49:22
  Speaker 5: When you have the president again saying that there would
• 49:25
  Speaker 5: be more strikes today and then he cancels them, then yes,
• 49:29
  Speaker 5: you have to see this as a de-escalation because this
• 49:31
  Speaker 5: was something.
• 49:32
  Speaker 3: That was in the U.S. was in control, not Iran.
• 49:35
  Speaker 5: Previously, the United States had been responding to Iranian attacks,
• 49:38
  Speaker 5: and then it went back and forth, back and forth
• 49:40
  Speaker 5: on the same day. But what you saw yesterday was
• 49:42
  Speaker 5: the United States really launching the offensive here to try
• 49:46
  Speaker 5: to get Iran towards a negotiating table for an agreement.
• 49:49
  Speaker 7: On the heels of an inflation report showing consumer prices
• 49:53
  Speaker 7: surged 4% last month compared to a year ago, highs
• 49:56
  Speaker 7: not seen in three years due to the Iran war.
• 49:59
  Speaker 7: The producer price index today showing it jumped 6.5% in
• 50:03
  Speaker 7: May from the previous year.
• 50:04
  Speaker 8: The number suggests that inflationary pressures faced by consumers are
• 50:08
  Speaker 8: beginning to percolate up through the supply chain. Analysts say that,
• 50:11
  Speaker 8: as with the Consumer Price Index, surging fuel and food
• 50:14
  Speaker 8: prices are behind the increase in the PPI.
• 50:16
  Speaker 7: ABC's Jim Ryan has Matt Teams at the Pentagon today,
• 50:20
  Speaker 7: earlier after sensors triggered an air quality incident in sections
• 50:23
  Speaker 7: of the high security facility. Some workers told to shelter
• 50:26
  Speaker 7: in place. Tests, though, showed it was a false alarm.
• 50:29
  Speaker 7: Mexico beat South America today in the first match of
• 50:32
  Speaker 7: the FIFA World Cup. Next match, Los Angeles. Tomorrow night,
• 50:35
  Speaker 7: ABC's Christian Cordero is there.
• 50:38
  Speaker 5: L.A.
• 50:38
  Speaker 4: 's a host city.
• 50:38
  Speaker 9: It's hosting tomorrow. But the crowds are out today in
• 50:42
  Speaker 9: large part to support Team Mexico. We know there's a
• 50:44
  Speaker 9: huge Mexican-American population here in L.A., But tomorrow, all eyes
• 50:48
  Speaker 9: will turn to the match between the U.S. and Team
• 50:51
  Speaker 9: Paraguay as they kick things off here in the U.S.
• 50:54
  Speaker 9: at what is expected to be an exciting tournament from
• 50:57
  Speaker 9: beginning to end.
• 50:58
  Speaker 7: You're listening to ABC News.
• 51:04
  Speaker 10: Hot summer days and high energy bills are on the way.
• 51:07
  Speaker 10: Upgrade your home's old leaky windows this month during WindowNation's buy, forget,
• 51:11
  Speaker 10: for free sale.
• 51:12
  Speaker 3: Yes, half of your new, beautiful, energy-efficient windows, free.
• 51:15
  Speaker 10: Plus, no money down and no monthly payments or interest
• 51:17
  Speaker 10: for two years. Call now, 866-286-70 or WindowNation.com. In select markets,
• 51:24
  Speaker 10: trust our family of brands, New South Window and Armor View.
• 51:27
  Speaker 10: That's 866-286-70 or WindowNation.com to book a consultation.
• 51:34
  Speaker 11: I've been telling you all about the secret war on
• 51:35
  Speaker 11: our cash and the free report you can receive a
• 51:37
  Speaker 11: copy of by contacting Swiss America at 800-289-2646. I'd also
• 51:42
  Speaker 11: like to encourage you to subscribe to their podcast on YouTube.
• 51:45
  Speaker 11: Just search Swiss America Trading. The podcast can provide you
• 51:48
  Speaker 11: a ton of vital information and financial news in the
• 51:51
  Speaker 11: challenging and uncertain times we're in. Subscribe today. Learn more
• 51:54
  Speaker 11: about BRICS, industry leaders, and their market predictions for the future,
• 51:57
  Speaker 11: along with what you might expect to see in terms
• 51:59
  Speaker 11: of precious metal performance in the weeks and months ahead.
• 52:01
  Speaker 11: Message and data rates may apply.
• 52:05
  Speaker 7: Van Bolter, the man charged in the attacks against Democratic
• 52:08
  Speaker 7: lawmakers in Minnesota last June, changed his plea today to
• 52:12
  Speaker 7: guilty in his federal case. Bolter admitted he shot and
• 52:15
  Speaker 7: killed Minnesota State Representative Melissa Hortman and also attempted to
• 52:19
  Speaker 7: kill Senator John Hoffman and his wife, Yvette.
• 52:22
  Speaker 2: U.S.
• 52:22
  Speaker 7: Attorney for the District of Minnesota, Daniel Rosen, discussed their
• 52:26
  Speaker 7: decision on the change of plea agreement.
• 52:28
  Speaker 6: When you have a defendant that is prepared to plead guilty,
• 52:32
  Speaker 6: take consecutive life terms, plus..
• 52:34
  Speaker 3: To ensure that he.
• 52:35
  Speaker 6: Never sees freedom again in his entire life. That was
• 52:38
  Speaker 6: an opportunity that we just could not pass up.
• 52:42
  Speaker 7: Bolter still faces state charges in the killings. In Northern Ireland,
• 52:46
  Speaker 7: crowds of young men clashing with police in Belfast. Those
• 52:49
  Speaker 7: violent protests erupted in the wake of an immigrant from
• 52:52
  Speaker 7: Sudan charged with the brutal knife attack on a man.
• 52:56
  Speaker 7: ABC's James Longman has details.
• 52:58
  Speaker 4: Police say protesters have been trying to reach a hotel
• 53:00
  Speaker 4: they believe was housing immigrants, and disturbingly, earlier this week,
• 53:03
  Speaker 4: some went door to door in a local street looking
• 53:06
  Speaker 4: for foreigners and torching homes. Now, the family of the
• 53:09
  Speaker 4: man who lost his left eye in that attack have
• 53:11
  Speaker 4: appealed for calm, and they say that while they're completely devastated...
• 53:15
  Speaker 4: By what's happened to him, they reject violence as the response.
• 53:18
  Speaker 7: Last night's celebrations in New York City following the New
• 53:20
  Speaker 7: York Knicks' record comeback win against the San Antonio Spurs
• 53:23
  Speaker 7: led to police arresting more than 50 people outside Madison
• 53:27
  Speaker 7: Square Garden due to rowdy fans getting out of hand.
• 53:30
  Speaker 7: I'm Michelle Franzen, ABC News.
• 53:33
  Speaker 10: Hot summer days and high energy bills are on the way.
• 53:36
  Speaker 10: Upgrade your home's old leaky windows this month during WindowNation's buy, forget,
• 53:41
  Speaker 10: for free sale. Yes, half of your new, beautiful, energy-efficient windows, free. Plus,
• 53:45
  Speaker 10: no money down and no monthly payments or interest for
• 53:47
  Speaker 10: two years. Call now, 866-286-70 or WindowNation.com. In select markets,
• 53:54
  Speaker 10: trust our family of brands, New South Window and Armor View.
• 53:57
  Speaker 10: That's 866-286-70 or WindowNation.com to book a consultation.