Latest / Financial Survival Network / Till Dementia Do Us Part -- John Rubino #6003

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Till Dementia Do Us Part -- John Rubino #6003 · Financial Survival Network

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That's a very big deal actually, because it looked for a while like,
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Okay, the Fed is going to eat ease and interest rates are going to
0:06
go back down, and pretty soon we'll be back in one of those cycles
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where there's very easy money and everybody can buy anything. And that kind of
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happened for a little while, and it still feels like it's happening in the
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stock market, but in general that's not the case in the US. You
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know, we're running big deficits and that's very stimulative. But if interest rates
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are going back up, you know, the ten year treasury yield went down
0:31
to three point five percent from five percent. You're listening to Carrie Let's's Financial
0:36
Survival Network, where you get valuable information you just can't find anywhere else to
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ever. Go to Financial Survivalnetwork dot com and get your free newsletter and gift.
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Financial Survival Network now more than ever, and welcome you are listening to
1:03
watching the Financial Survival Network. I'm your host, Carrie Leutz. I am
1:07
on the road in Thailand and John and I are roughly nine thousand miles or
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eight thousand miles apart here and we're still doing the show. The show must
1:19
go on. John, Hey, Carrie, greetings from the first world.
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You know it's dinner time here, so that knows mean that it's breakfast time
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for you, right exactly. And I started eating breakfast again, a practice
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I've stayed away from for years now. But I'm eating breakfast, but I
1:41
keep it down to two meals a day. I can't do three meals a
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day anymore. I just can't. It's something with age, man, I
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don't know. I just can't eat three meals a day. Well, but
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when you're in an exotic war in country, you got to eat the breakfasts
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and all their other meals too. You got to got a sample. It
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all so good. Now I'm picturing like for tie breakfast, I'm picturing like
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octopus and squid and stuff like that. Is it o what they eat for
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breakfast? They don't have like they do a Western breakfast. I'm staying at
2:14
the Hilton here. They do a Western breakfast, but they do the Eastern
2:19
breakfast, which is you eat the same food all day long. It's not
2:25
breakfast per se. It's just the same food you're eating and that's always how
2:31
it used to be. You ate for breakfast what was left over from dinner,
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right, So okay, that makes sense, made sense. Yeah so
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anyway, hey, well we should be celebrate breaking out the champagne Bitcoin his
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eclipsed the fifty thousand dollars mark Nick Santiago called it. I mean, we
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thought it was going to go a lot lower under twenty thousand. Maybe those
2:57
are ETFs, They are ETPs, change traded products are starting to have an
3:01
effect on the price job Yeah, yeah, I mean, you know,
3:06
you kind of think that, except that a lot of those those ETPs,
3:13
or all of them just are synthetic. They use futures contracts to replicate the
3:17
movements of bitcoin, so it's not like they're you know, getting a bunch
3:22
of bitcoin and storing it taking it off the market. But I don't really
3:27
know the details of that. So it's possible to sublet the ETPs are actual,
3:30
you know, analogs to physical ETPs, and that's leading to a lot
3:35
of demand for bitcoin. So that's that's a possibility. Hey, we could
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say this that the ETPs for digital assets are the analog of g l D
3:46
and SLV. They got all the stuff on their books, but do they
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really have it. I don't know. Supposedly, my best friend Jeff says
3:55
that Fidelity has the coins, they actually possess them. But you know what,
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it's an ETP, which is a tracking product. It's not physical,
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physical bitcoin, which is in the novelly anyway. So it's going to be
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interesting to see what's happening. I told you, like, I buy a
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certain amount of bitcoin every Monday, and when I swing traded, when it
4:21
hits peaks, I dump out of it. But here it went over fifty.
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That's probably enough momentum to take it close to sixty in my opinion,
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but we will find out soon enough. So, hey, interest rates are
4:36
rising again. Yeah, that's that's a very big deal actually, because it
4:41
looked for a while like, okay, the Fed is going to eat ease
4:44
and interest rates are going to go back down, and pretty soon we'll be
4:48
back in one of those cycles where there's very easy money and everybody can buy
4:53
anything. And that kind of happened for a little while, and it still
4:57
feels like it's happening in the stock market, but in general that's not the
5:00
case in the US. You know, we're running big deficits and that's very
5:03
stimulative. But if interest rates are going back up. You know, the
5:08
ten year Treasury yield went down to three point five percent from five percent,
5:13
and then it went back up just lately to like four point two percent,
5:17
And you know, that doesn't sound like much of a move, but in
5:20
for instance, the mortgage market, it's a very big deal because it puts
5:24
us back above seven percent of mortgages. Now. My wife and I are
5:28
thinking about buying houses for our two kids, so I'm really interest rate sensitive
5:31
right now. And houses in the places where we're look at have not really
5:38
come down in price. There aren't a lot of sales happening, but the
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prices are simple at they're completely unaffordable bubble levels. And now mortgage rates are
5:47
going back up to seven percent and above, which means that, you know,
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if you couldn't afford a house three years ago, I'm at the price
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back when you could get a three percent mortgage, There isn't the chance in
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the world if you've been able to buy that house. You know, you
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know, if you buy a house now with a seven percent mortgage, your
6:06
total interest cost equals the price of the house, So over thirty years,
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you would in effect, my two houses instead of one house. So that's
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not the kind of thing that is survivable for the housing market. You know,
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we have to have a housing and crash pretty soon. There's no way
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around it. And that's just one of the things that's coming now that the
6:28
people have concluded that the FED isn't going to start cutting rates immediately, like
6:31
we're not going to go back to t QBI on a massive scale and negative
6:35
interest rates. The economy hasn't slowed down in a demonstrable way yet to justify
6:44
the FED doing that. And if that's not happening, then what does that
6:47
mean for these crazy tech stocks that are now you know, at and beyond
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nineteen ninety nine levels in Video? You know, I was going to shorten
6:57
Video when it first spiked, and I couldn't figure out how to do it
7:00
because the stock was on the list of hard to short, you know,
7:04
hard to borrow a stock, so you can't just directly short. And then
7:09
the the option premiums for put options work they were insanely high. So I
7:15
didn't do it in Boyd and I'm glad I didn't because in Nvidia kept over
7:19
and going out. I read a thing the other day it said that it
7:23
added a new Tesla in market cap in the last few moments. So these
7:30
are short candidates, you know, these are things that are going to fall
7:32
by fifty percent and not even be fairly valued at the time. But where
7:41
do you short? The man? The entry point for something like this is
7:44
just incomprehensible, you know, It's very hard to call, and the danger
7:46
of missing it, you know, and shorting it at the wrong time is
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outrageous. So I'm not sure how to play it yet. Remember the man
7:56
said, the market can remain irrah at all longer than you can remain solvent,
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right, Yes, and it really I've found that out a couple of
8:07
times, because when something really starts to run, it runs beyond rationality.
8:15
It overshoots, and then it comes back and overshoots the other way. But
8:20
calling the point where it's going to overshoot and head back your way is very
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hard. And I'm gonna short some more, but I'm not going to do
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it with like S and P five hundred. That's p y. Yeah,
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you know, put options on the on the hues, you know, the
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the NAZAC one hundred or the spy or something like that. You don't have
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ten bag or potential with things like that, but you do have five bag
8:43
or potential, and I think yeah, And you know, for the liquidity,
8:48
which means lower pood option premiums, and the fact that they're not as
8:54
wildly overvalued as the worst stocks means that you know, you aren't looking at
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losing everything in three months or something like that. You have more time to
9:05
be right. So I'm going to start doing that. So we'll see,
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you know, we'll talk as it goes along, but I am going to
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increase the level of my shorts going forward now because this is just a ridiculous
9:18
market. Yeah, goldilocks, market price for perfection and all that good stuff.
9:24
In the meantime, the cre meltdown continues and we find out, just
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like the subprime crisis with the mortgage backed securities, the European banks jumped in
9:37
with both feet and are getting burned now. Well. The American banks,
9:43
especially the smaller American banks, have a ton of real estate related debt on
9:48
their books, and a lot of that is cre commercial real estate, and
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a lot of that is office buildings. And office buildings are at nightmare,
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you know. Any They for reasons that we've talked about before are just a
10:03
mess because originally a lot of these buildings went up with very low interest rates,
10:09
so it was shaped to build them. And then during the pandemic,
10:13
people have found out that they really don't like working in an office. They'd
10:16
rather stay home, and you know, missed the commute to not have to
10:20
get dressed up and moving up. They gained three hours a day, So
10:22
more and more people who have the ability to win that argument are allowed to
10:28
stay home. Now that means office buildings have really low occupancy radios and they're
10:35
not generated of cash flow, and so you're seeing a lot of people are
10:39
tracking office buildings out there and finding examples of an office building that was one
10:45
hundred and twenty million dollars three years ago. Now it's selling for forty two
10:48
million dollars, you know, things like that. And those embedded losses are
10:52
on bank balance sheets, so when those office buildings change hands, the bank
11:00
have to report losses. And that's a very big deal, but now not
11:03
anyhow, it's a big deal for US, but it's also turning out to
11:05
be a big deal for Europe. A lot of European banks have US commercial
11:11
room estate on their books. And so they're on the stuff too, and
11:15
Europe is already a mess. You know, Germany. We can spend the
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whole show just talking about what a catastrophe the German economies, which is wild
11:22
because five years ago you and I would have been saying the opposite, that
11:26
Germany is basically well run country lefts in the world. Now they're the worst
11:31
run country. They screwed up some monumentally. Uncle Merkel used to be this
11:37
kind of rock solid conservative lady who didn't make stupid mistakes. Turned out to
11:43
make stupid mistake after stupid mistake, and we'll go down in history as probably
11:48
the worst Western leader in human history. So because everything she did was turned
11:56
out to be wrong in retrospect, you know, they opened their borders,
11:58
they let an insane number of immigrants from incompatible cultures come in, and then
12:03
they shifted completely out of nuclear and into the wind and solar, which to
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work in Germany because Germany is neither sunny nor wind a and they loaded up
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or they committed themselves to Russian natural gas, and then they allowed the US
12:20
to blow up the Russian Russian natural gas pipeline. So Germany is de industrializing,
12:26
and you take them out of Europe. Europe is toasted and and that
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is the next couple of years for Europe. You know, they're they're going
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to level down to instead of their first word world system, to second world
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at best. You know, they're going to be much poorer than I think
12:43
the I think you were correct on that score, John and the eight Uh.
12:50
You know, one of the things that's keeping the US afloat is even
12:54
though the rest of the world is doing so badly, they're doing worse than
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US. US and at the perception of the safe haven. Look, China's
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imploding. Where are those wealthy people putting their money. They're putting it into
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the US. I mean there's zillions of dollars. So the flow of funds
13:13
from global hot money whatever, flag capital is all coming to the US into
13:20
the stock market because they're not buying government debt with their flag capital, they're
13:24
buying stocks. So I think a lot of that is why it's going up.
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And it's happening in Europe now as well. So hey, we got
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you know GNAT gas prices keep going down and then the ADMIN bans new LNG
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exports, Like what's going on here? We have more in that guess than
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we know what to do with in this country. What do they think?
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It looks like this was a plan on the bar, part of a Biden
13:58
administration to make the economy look as good as possible going into the election.
14:01
So what they did was they banned the export of liquid natural gas, and
14:09
that left the US with a surplus of gas domestically. You know what an
14:16
export it is, just slash it around here, you know. So the
14:18
price is way down. So anybody who uses natural gas, for instance,
14:22
to heat their house or to run their stove or whatever, and that's still
14:26
a big part of the country, they're seeing the prices go down, the
14:30
costs to heat their house and then their stove go down, which means their
14:35
life is no longer as expensive and they don't blame the government for raging inflation
14:39
anymore. That I think that's the Biden administration plan. That's what they're doing
14:43
well. I think to the extent that you know, natural gas is an
14:48
issue for people, this helps. So yeah, I think that's part of
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it. Because you know, let me melt, these guys are capable of
14:56
anything. I'm talking about the powers that be right now. I think literally,
15:03
if if it took a false flag attack on the jet way and that
15:09
kills one hundred people to get the current administration elected again, they would do
15:15
it. You know, That's just how the guys in charge and should operate.
15:18
So I think anything we see out there out there that goes wrong in
15:22
the next six months, and I'm not saying the Republicans are the good guys.
15:24
I'm saying that anybody in charge in this way now, and it happens
15:30
to be the Democrats and their allies who are in charge right now, and
15:33
I think that any kind of false flag thinking that you can conceive of,
15:39
they would be willing to do in order to win. So any worfic thing
15:43
that happens in the next six months, your first impulse should be to blame
15:48
it on the government, and only then if it becomes super clear that it
15:54
couldn't positively have been the government. And he started looking for other examples.
15:56
But but yeah, you know, I agree, Yeah, And that means
16:02
the world is a very scary place because you've got people in power who are
16:07
willing to do pretty much anything to hold onto power. And if it takes
16:11
another pandemic, forget it. That's I mean, that's easy peasy for they
16:17
did it once. I mean, they already did it. They know exactly
16:19
how. So remember just lately they were talking about disease NX or something like
16:26
that, the next pandemic, and you know, they tried monkey pops and
16:30
that didn't work because it had a humorous name, so nobody could be afraid
16:33
of it. But they'll come up with something else, or you know,
16:38
or a a cyber attack or a library attack, or aliens are going to
16:47
attack. Oh yeah, I mean that's see the aliens landing on the White
16:51
House lawn is the that's the last on their list because that's the hardest to
16:56
pull off. But you now they've got holograms or something like that. That's
17:00
that that will make it possible. They've got some kind of advanced AI on
17:06
the imagery that they'll use, and they will use it if nothing else works.
17:10
So you know, twenty twenty four is going to be one for the
17:14
history books from a theatrical standpoint, because everybody's willing to do whatever it is.
17:21
We have the tech to do all kinds of things now, so I'm
17:23
I don't even want to guess what they're going to pull, but just remember
17:26
anything that happens is probably fake, and just respond to it by buying gold,
17:33
okay, or silver. Just do that, hat, ye, and
17:37
just let your stacks accumulate it, and then don't worry about trying to figure
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out exactly what their reasoning is or how they pulled it off or whatever,
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you know, they did it. That's enough, Michael, exactly eight.
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So, speaking of the admin, we have this special Council report on Biden's
18:00
handling of classified documents, and I don't know, for some reason, everyone's
18:04
surprised that basically the guy is non compass. Meant this now you'll remember you
18:11
probably don't, but five years ago I wrote an article, well maybe four
18:15
years ago, right before the election, called the Emperor has No Cortex,
18:21
right, is like, why is anybody surprised over this? It's been obvious
18:26
for years now this guy has lost it. And you know that that he's
18:33
a puppet. There's no other explanation for what's happening. He's not running anything.
18:37
Maybe Hunter Biden's running the administration for all we know. Okay, this
18:44
was just too funny not to mention. You're right, because basically the story
18:48
it is they were indicting Trump been trying to imprison him or things he did
18:56
with classified documents after he was president. But then it turned out that Biden
19:03
had done basically the same thing, and you know, he had a garage
19:06
full of classified documents, and so they felt obligated that they were going to
19:12
try to put Trump in prison, you know, the Biden DOJ felt obligated
19:18
to well to look at him too, So they looked at him too.
19:21
They interviewed him and everything, and they came back and said, well,
19:23
we he clearly did a bunch of stuff that's absolutely illegal. He did it
19:30
with an understanding of you know that it was illegal. But we can't indict
19:34
him because in a trial, people would see, the jury would see that
19:40
he was just an old man with memory problems and you know, he's with
19:44
demensia. So they we couldn't convict him because you have to have intent to
19:52
convict somebody of something like this, and it's clear that he doesn't have enough
19:56
of a mind left to have that kind of intent. And so so he
20:00
got off. And so the administration now is like, well, is this
20:03
a good thing or a bad But he's not going to be indicted. But
20:07
he's not going to be indicted because he's senile, and so to watch these
20:11
guys scorm is just hilarious. Carrie, Let's do it. Let's let's do
20:18
a pool now and guess which what day they will replace Biden with Michelle Obama.
20:26
She's good, the one, you really think, So she's the one
20:30
they want, but she doesn't want to do it. Gavin Newsome desperately wants
20:34
it. But they can't replace Biden and Harris with a white guy, right
20:41
because if they if they just got rid of Biden, Kamala Harris would win,
20:45
and then we would we would have a black woman president. And the
20:48
Democrats cannot get rid of the black woman and replace her with a white guy.
20:52
They can't do that. There's no way they can do that. So
20:56
Michelle Obama is the logical choice, because you just swap one black women for
21:00
another black woman and you've got your diversity there. But Michelle Obama will be
21:07
He's been exposed to what it's like to be in that feature part of it.
21:12
So I don't know what they're going to do, but they need they
21:15
know they needed something. I think they don't know what they're going to do
21:18
either, but you know it could be some kind of a Hail Mary,
21:21
where they just grab somebody out of you know, out of the left field
21:26
and slot them in there as long as they tick en up boxes on the
21:30
assumption that Trump is easy to beat, and we'll see, I don't know,
21:33
this is the most hilarious election ever, as long as we don't end
21:37
up in, you know, a civil war, which we're reasonably close to
21:41
right now. So you know, so barring the civil war, this is
21:45
hilarious. Okay. So I'm thinking, when you're talking about checking boxes,
21:51
the former president of the Harvard University is available, and she could be perfect
21:59
because she checks like so many boxes. She checks boxes they didn't even know
22:03
they had until, you know, if she hadn't already had her downfall,
22:10
she would be on the short list. If right this minute, you know,
22:14
maybe thinking wow, man, Harvard, okay, Harvard, and then
22:17
look at all these other boxes that she ticks. Let's just slot her right
22:21
in there, you know, and then we'll just tell her when to invade
22:23
whoever and when depress the new box. That's that'll be fine. You know,
22:29
Oh Carrie, you know that we can joke about this and is a
22:33
sign of how crazy the world is right now, because we shouldn't you shouldn't
22:37
be able to joke about this stuff because it's bad from and then the Texas
22:41
thing. You know, oh, you've probably you've probably covered this already,
22:45
so your audience is probably very well our incipient civil war. But let me
22:52
know if there's anything else that needs to be filled in about that. So
22:56
yeah, well we I don't know that I've talked about it on the show.
22:59
So basically, the Supreme Court said that the FEDS could go in and
23:03
cut the razor wire that Texas has erected on the border. The governor of
23:08
Texas declared an invasion and sent troops down there, and they in light of
23:15
the Supreme Court's decision, it just added more razor wire because the decision didn't
23:21
say they couldn't add more. It just said that the FEDS had the right
23:23
to remove it, but the border patrol won't go in there to remove it.
23:29
And now a bunch of states, I think thirteen states have pledged National
23:34
Guard troops to Texas. The ADMIN hardcore people are saying, let's nationalize the
23:44
federalize the National Guard, which generally in the past and I don't know if
23:48
it's changed, required the consent of the governors in question to federalize the guard,
23:56
because when we go back to Hurricane Katrina, the Bush administration through FEMA
24:02
tried to federalize the Louisiana National Guard. The then governor Catherine Blanco, I
24:08
always called her Catherine Kathleen draws A Blanco. She refused to sign the federalization
24:17
order and they said okay, and they left, and then we had Hurricane
24:19
Katrina, and Bush got blamed for it anyway. So I don't know if
24:23
the law has changed since then, but under the existing law, federalization was
24:30
required with the consent. And even Trump tried to send the Guard to d
24:37
C for January sixth, and he asked the then mayor do you want the
24:45
guard? And she said no, and that was it, and then we
24:48
had January sixth. So it's an interesting legal issue. I don't think they
24:55
can federalize them under the constitution, and then that would just precipit take the
25:00
ultimate clash between the states, and we got twenty six states and then the
25:07
other states. Most of the people don't want what's happening now on the border
25:10
to be happening anyway. This is a policy driven by elites, by NGUS
25:17
and by big companies looking for cheaper labor here. John Well, Okay,
25:22
let me say two things about this. One is that these NGOs that are
25:27
down in Mexico and helping people come into the US illegally should be rounded up
25:33
and imprisoned in a heartbeat. Okay, they're breaking the law. They have
25:37
no business doing that. Lock them up and do it publicly because you get
25:42
a seventy to thirty advantage electorally out of doing that. Now, the other
25:47
part about it is, I think, you know, the Republicans, they've
25:49
been frustrated over this open border that Biden has imposed for a long time.
25:56
But I think the timing of this now is is pretty specific. Texas started
26:03
doing this right now so that the issue leads over into the election campaign,
26:08
and their google is to make Biden go down there and impose the federal government's
26:15
will on Texas and then explain it. That's the whole key to everything.
26:19
They want Biden to happen, stand in front of the camera and explain what
26:23
he's doing. And they know he can't do it. I mean that that
26:26
is too many complex thoughts strung together at once for him to be able to
26:32
actually articulate it, and then if he can't do it, then the people
26:37
who are actually responsible for it and the federal got burn, will have to
26:40
step up and explain it, and they'll see the deep state, you know,
26:42
exposed in all the Yeah, I at about money. Yeah, it's
26:48
all about winning the next election. Yeah, but the open border thing,
26:52
yes, is partially about money for sure. Yeah. Well it's going to
26:56
be interesting and that Trump is running on a policy of basically rounding up millions
27:03
of illegals and showing them the door. But the people that sent them to
27:07
us don't want them back, So where do they go? We put them?
27:11
Well, Gitmo right? I mean no, From from Trump's point of
27:15
view, the most electorally and you know, the most popular thing he could
27:19
do is shut down to the border completely and then spend the next three years
27:26
rounding up all the people who came in here illegally. It just take them
27:30
across the border in Mexico and drop them off you know, Mexico sceand to
27:33
let them in in the first place. I mean that literally, I'm not
27:34
joking. I think that's what they should do. Just drop them off on
27:38
the other side of the Texas border, and then you know, to the
27:44
extent that any of them need to be processed. They go through the official
27:49
channel, they submit their application from Mexico, and then they go through the
27:56
steps that anybody else all I pay parents did, all the all the people
28:00
who are doing it legally do to to become American citizens. And there should
28:08
be no other alternative. You shouldn't just be able to walk across the border
28:11
and then disappear into Michigan or wherever and never be heard from again. So
28:19
you know, I think as long as Trump, if he's the next president,
28:23
I'd say and show bust loads of people that he's catching and setting across
28:29
to Mexico. He's a majority president because people will people will see that.
28:33
Go Okay, Trump's doing what he's supposed to do. It's a new catch
28:37
and release. We catch him here and we release there. Yeah, I
28:44
mean, this is madness. I mean, look, it's it's not quite
28:48
analogous to Rome being overrun by the Visigoths because the population of the country is
28:56
far larger than the invading force. But this is an invasion, and I
29:02
think Trump would be within his rights to declare it an invasion and take all
29:07
necessary steps to undo it, to end it and to send the people back.
29:12
And I don't think the Supreme Court is going to try to stop them
29:15
from doing it, because you know, maybe it maybe we wind up with
29:21
martial law. I don't know. Well, hey, it's a big issue.
29:25
We'll be talking about more in the weeks to come, for sure,
29:29
and I think we'll leave it at that, because the beach is calling me
29:33
here, the beach in Thailand is calling me. Hey. Questions comments kl
29:37
at Carrie Let's dot com. Don't forget John Substackrabino dot substack dot com and
29:45
make sure you sign up for your free newsletter at Financial Survival Network dot com.
29:49
We're starting John the Inflation Cafe Inflation dot Cafe and the newsletter first one
29:56
is going to go out this week and pretty excited about it. Is based
30:02
on my experience of going to a certain undisclosed coffee shop that we all know
30:07
and well and love, the largest chain in the world, and realizing I
30:12
was paying double for a price of coffee that I was paying three years ago.
30:17
They cut back on their rewards and I had half a cup and I
30:22
said to the manager, you're not in business is selling coffee. You guys
30:27
sell inflation. Thus was born in the concept of the Inflation Cafe, and
30:34
the you know, he just kind of laughed. But I am the chief
30:40
editor. I am the editor and chief barista of the Inflation Cafe. So
30:45
we're transitioning here. They mess with the wrong guy. Hey man, it's
30:51
like seven frickin dollars for a drink. I can't believe I was paying more
30:56
than four dollars for and it was overpriced at four dollars, John at seven,
31:00
it's just highway robbery, and I can afford it. But why you
31:07
know I cut back in the beauty is here here in Thailand, at the
31:11
same undisclosed coffee shop. It's three bucks. Yeah. Do you have a
31:17
second more for me to go on an inflation rant? Yeah? Sure,
31:19
go ahead, Okay, okay, because you know, you see these guys
31:22
like Paul Krugman, or basically anybody that is in the current power structure saying,
31:27
oh, the economy is so good, Look how low unemployment is and
31:32
inflation is down to two and a half percent, and why are people so
31:37
mad still? You know, what they don't realize is that we've raised a
31:41
lot of people's living expenses by thirty percent. Okay, and now we're coming
31:48
to them and saying, look, the further increase is only three percent of
31:52
a year. Well, we already raise their cost of living to the point
31:56
where they have to decide between driving to work and feeding their care So the
32:00
fact that it's only prices are only going up by another three percent a year
32:06
does not help them and does not make them happy. And that's what the
32:08
guys in charge can't figure out, because to them it's irrelevant. You know,
32:13
the cost of a Starbucks coffee is just not a factor in life.
32:19
Neither is the cost of a tankful of gas or you know, one week's
32:23
worth of groceries or anything. But to everybody else, it's a big deal,
32:27
and they've ruined it for this huge section of the economy. That's that's
32:30
why, that's why there's so much angst out there right now. And John,
32:36
let's face it, we're both right around the same age a year of
32:38
each other. In our lead. We're pushing seventy. We live through the
32:44
last inflationary period sixties, seventies, early eighties, so we understand it.
32:51
But most of the people alive today, John, that no clue what inflation
32:55
was. They didn't live through that just like they don't know what a bear
33:00
is. The most of these kids on Wall Street now, most of the
33:05
people walking the planet don't know what inflation is. They haven't lived through an
33:09
inflationary cycle like we did and like our parents did post World War Two.
33:15
So I think that's one of the reasons why I'm kind of like putting this
33:20
newsletter together in a new site is I wanted to people to understand where it
33:25
comes from, why it's happening, and that they're really being taxed silently against
33:32
their will, against their consent. It's a stealth tax inflation, and it's
33:37
rampant now. So we'll leave it at that. Hey, we'll talk to
33:42
you in a couple of weeks when I'm back home and got my equipment.
33:45
Everything is locked up right now. I actually went to the safe deposit box
33:51
and threw my desktop computer in it so that because can't lose your data,
33:57
you know, even though I'm backed up three ways to sign down, four
34:00
ways actually anyways, it's all locked up. So all right, John,
34:05
Hey, make sure you go to John Substack Rabino dot substack dot com.
34:09
I want to see an article on inflation. John. All right, Harrie,
34:14
send me what you do and I'll post it over the there. Okay,
34:16
all right, cool, you got it, all right, we're working
34:19
on it now. Thanks, talk to you soon. Thanks for listening to
34:22
carry Letz's Financial Survival Network, your solution to today's trying times. For the
34:30
latest, go to Financial Survivalnetwork dot com. Financial Survival Network now more than ever,