Latest / Financial Survival Network / Big Banks, Government Fraud & SBA Scandal - Lloyd Chapman #6258

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Big Banks, Government Fraud & SBA Scandal - Lloyd Chapman #6258 · Financial Survival Network

• 0:00
  Speaker 1: Most of the money went to very large businesses. Yeah,
• 0:04
  Speaker 1: that's true. I think the Eagles got an SBA loan,
• 0:08
  Speaker 1: Kanye West got an SBA loan. But the problem the
• 0:11
  Speaker 1: PPP wasn't that it was going to children. It was
• 0:14
  Speaker 1: going to big businesses. That was the main problem the
• 0:16
  Speaker 1: PPP and legitimate's fall businesses, you know, couldn't get any money.
• 0:19
  Speaker 1: But anyway, let's just say this. If you want to
• 0:22
  Speaker 1: talk about fraud government, let's talk about the Pentagon. So
• 0:25
  Speaker 1: it was reported it was reported the day before an
• 0:28
  Speaker 1: element by Rumsfeld that they couldn't track two point three
• 0:31
  Speaker 1: trillion in acquisitions. Right now, if you go to your
• 0:34
  Speaker 1: computer and type in thirty five trillion missing the Pentagon,
• 0:37
  Speaker 1: you see stories pop up. So you know, if people
• 0:40
  Speaker 1: want to talk about fraud, and god, let's talk about fraud.
• 0:42
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• 1:10
  Speaker 3: And welcome. You are listening to and watching the Financial
• 1:13
  Speaker 3: Survival Network. I'm your host, Carrie Lutz. Well, here we are.
• 1:17
  Speaker 3: It's the middle of March. Things are happening in Washington,
• 1:20
  Speaker 3: so quickly. Lloyd Chapman is back with US American Small
• 1:25
  Speaker 3: Business League ABSL dot com. And if you got a
• 1:30
  Speaker 3: question from Lloyd myself, shoot me an email Klatcarrie Lutz
• 1:34
  Speaker 3: dot com. So, Lloyd, we spoke last time. We didn't
• 1:37
  Speaker 3: know what Trump was going to do with the SBA.
• 1:41
  Speaker 3: Now we see that there's a new secretary. I can't
• 1:46
  Speaker 3: remember her name off the top of my head. I
• 1:49
  Speaker 3: can see it, but I can't say it. But it'll
• 1:53
  Speaker 3: come to me. Yeah, but in any event, Kelly Kelly Loughren. Yes, yeah, yeah,
• 1:59
  Speaker 3: she was a senator, if I'm not mistaken, and yeah yeah,
• 2:03
  Speaker 3: so seems like a good lady. She ordered all the
• 2:07
  Speaker 3: employees back to the office because none of them were
• 2:10
  Speaker 3: showing up. I remember seeing pictures of her on TV
• 2:14
  Speaker 3: saying where is everybody? And this is giant office in
• 2:18
  Speaker 3: DC and there's not a soul there except maybe some
• 2:21
  Speaker 3: guy emptying the trash. So what is the latest? What
• 2:26
  Speaker 3: do we need to know here?
• 2:28
  Speaker 1: Well, let's just start off with some basic data. Ninety
• 2:32
  Speaker 1: nine point nine percent of all US firms and small businesses.
• 2:35
  Speaker 1: I've never met anyone that knew that. By the way,
• 2:38
  Speaker 1: ninety eight percent of all companies of America have one
• 2:40
  Speaker 1: hundred employees or less, eighty seven percent have twenty and less,
• 2:43
  Speaker 1: and the average A company has ten employees. And the
• 2:46
  Speaker 1: only agency in our massive government to assist the thirty
• 2:49
  Speaker 1: four million small businesses where most Americans work as a
• 2:52
  Speaker 1: Small Businesministration. But today the ESP has the lowest budget
• 2:56
  Speaker 1: staff in history, and there's been pressure to close you
• 3:00
  Speaker 1: spay by the way for like the last forty years,
• 3:02
  Speaker 1: and they'll they'll talk about it, streamlining the SBA. We
• 3:05
  Speaker 1: need to make government more efficient. I use Perplexity, which
• 3:10
  Speaker 1: is AI software package, and I'm going into perplexity day.
• 3:13
  Speaker 1: I said, how many years could the SBA be funding
• 3:16
  Speaker 1: with the amount of money that's missing for the Pentagon.
• 3:19
  Speaker 1: It came back, I said, two thousand, six hundred years forever.
• 3:23
  Speaker 3: What's their budget. That's the SBA's budget.
• 3:26
  Speaker 1: Uh, it's around eight hundred billion million.
• 3:30
  Speaker 3: The Pentagon's eight hundred billion, SBA's eight hundred million.
• 3:35
  Speaker 1: YEAHBA, SBA is about eight hundred million dollars, and the
• 3:39
  Speaker 1: Pentagon is that it's eight hundred billion fifty but it's
• 3:43
  Speaker 1: actually closer, probably one point two trillion when you include everything.
• 3:47
  Speaker 1: So but yeah, here's my concern. When when Trump took
• 3:52
  Speaker 1: off with the first time, the SB had the lowest
• 3:54
  Speaker 1: budget and staff in forty years, and he cut it
• 3:57
  Speaker 1: even further. And that's that's that's a pretty strong statement
• 4:02
  Speaker 1: about how you feel about small businesses. Right, and now
• 4:05
  Speaker 1: in his second term he's laid off a higher percentage
• 4:08
  Speaker 1: of people at the SPA than any other agency. Another
• 4:11
  Speaker 1: strong statement of how you feel about small businesses. But
• 4:14
  Speaker 1: you know, let's just say this, You and I can
• 4:17
  Speaker 1: figure this out carry we want to. Let's just say
• 4:19
  Speaker 1: we want we want to make America great again. Right,
• 4:21
  Speaker 1: that's what we want to do. Okay, let's see if
• 4:23
  Speaker 1: we can figure this out. So America's ninety nine point
• 4:25
  Speaker 1: nine percent small businesses and they create ninety percent of
• 4:29
  Speaker 1: all new jobs. Now, what do we need to do
• 4:32
  Speaker 1: to create some jobs?
• 4:33
  Speaker 3: Huh?
• 4:34
  Speaker 1: How about some small business programs at the SPA. Well,
• 4:37
  Speaker 1: how that'd be let's try that.
• 4:39
  Speaker 3: Right.
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  Speaker 1: Another thing people know is the Small Business Act that
• 4:44
  Speaker 1: the main problem of the SPA that's the largest economics
• 4:48
  Speaker 1: tumors program in history for the American people.
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  Speaker 3: No, nothing, Look, it's like every other agency. There's huge
• 4:55
  Speaker 3: amounts of corruption there. And we saw from the COVID
• 4:58
  Speaker 3: loans that they made three hundred and fifty million dollars
• 5:01
  Speaker 3: worth of SBA loans to kids eleven years and younger.
• 5:06
  Speaker 3: So we got to do a better job here of
• 5:10
  Speaker 3: of how this.
• 5:11
  Speaker 1: Is hard to believe, by the way, I find that
• 5:13
  Speaker 1: hard to believe. Quite frankly.
• 5:16
  Speaker 3: It's the US guy. And there were loans, emergency loans
• 5:20
  Speaker 3: made with the hastily thrown together program that really was
• 5:26
  Speaker 3: an emergency. But it's just an example of government waste. Right.
• 5:31
  Speaker 1: Well, yeah, for example, you know, the the amount of
• 5:35
  Speaker 1: money in question to the SBA is pennies compared to
• 5:41
  Speaker 1: the Pentagon. So let's just say this. So if we're
• 5:42
  Speaker 1: gonna if we're going to look at government fraud, where
• 5:45
  Speaker 1: should we look at the SBA are the Pentagon? So
• 5:49
  Speaker 1: the SBA has you know, I'll say, I think they
• 5:52
  Speaker 1: talked about three hundred and twelve million in loans that
• 5:56
  Speaker 1: were questionable. By the way, I was the first part
• 6:00
  Speaker 1: on the planet to sue the SBA to get the
• 6:02
  Speaker 1: list of who got PPP loans, I can send myself
• 6:04
  Speaker 1: very knowledgeble about that. I would find extremely difficult to
• 6:08
  Speaker 1: believe that showan got PPP loans.
• 6:11
  Speaker 3: I believe it. I believe.
• 6:12
  Speaker 1: Now what comes to the one or two exact little
• 6:17
  Speaker 1: I did I did? I've got to hear in my
• 6:19
  Speaker 1: office somewhere. Most of the money went to very large businesses. Yeah,
• 6:25
  Speaker 1: that's that's true. I think the Eagles got an SBA loan,
• 6:28
  Speaker 1: Kanye West got an SBA loan. But the problem the
• 6:32
  Speaker 1: PPP wasn't that it was going to children. It was
• 6:35
  Speaker 1: going to big businesses. That was the main problem the
• 6:37
  Speaker 1: PPP and legitimate's fall businesses, you know, couldn't couldn't get
• 6:40
  Speaker 1: any money. But anyway, let's just say this. If you
• 6:43
  Speaker 1: want to talk about fraud government, let's talk about the Pentagon.
• 6:47
  Speaker 1: So it was reported, it was reported the day before
• 6:50
  Speaker 1: now eleven by Rumsfeld that they couldn't track two point
• 6:52
  Speaker 1: three trillion in acquisitions. Right now, if you go to
• 6:56
  Speaker 1: your computer and type in thirty five trillion missing the Pentagon,
• 6:59
  Speaker 1: you see stories pop up. So, you know, if people
• 7:02
  Speaker 1: want to talk about fraud and gut, let's talk about
• 7:04
  Speaker 1: fraud let's start with the Pentagon. More money's missing at
• 7:08
  Speaker 1: the Pentagon than all across the government combined, and yet
• 7:11
  Speaker 1: Dodge has an ordered the Pentagon. So I'm they're in
• 7:14
  Speaker 1: the price estimate, right, they're in the process. But yeah,
• 7:18
  Speaker 1: let's say you've got a friend and you want to
• 7:21
  Speaker 1: and he's not handling his money properly, and he's spending
• 7:25
  Speaker 1: one hundred thousand dollars a week on cocaine at fifty
• 7:27
  Speaker 1: cents a week on bubblegum. Where should we start first
• 7:30
  Speaker 1: with this guy with the bubblegum, with the cocaine, right,
• 7:33
  Speaker 1: So yeah, if we want to talk about government for
• 7:35
  Speaker 1: let's talk about it. But the SBA is nothing. It's
• 7:38
  Speaker 1: just dirty pennies you wouldn't pick up compared to you.
• 7:41
  Speaker 3: Know, right, But that doesn't mean that we shouldn't route
• 7:45
  Speaker 3: out corruption wherever it's found in the government.
• 7:50
  Speaker 1: But again, doesn't it make sense to go after Let's
• 7:53
  Speaker 1: go to the biggest fraud.
• 7:55
  Speaker 3: Well you have to do everything.
• 7:57
  Speaker 1: I think the amount of money in the SBA loans
• 8:00
  Speaker 1: is less than a tenth of a percent of what's
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  Speaker 1: missing at the Pentagon.
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  Speaker 3: Oh yeah, yeah, yeah, no mess, no question about it.
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  Speaker 3: But could be low hanging fruit. You got to go
• 8:10
  Speaker 3: after everything we agree out, So.
• 8:13
  Speaker 1: I'm not crushing that. And by the way, to me,
• 8:17
  Speaker 1: it just makes sense. You know, if we're trying to
• 8:20
  Speaker 1: really have an impact on making you know, the government
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  Speaker 1: more efficient, I would go after the biggest thing, not
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  Speaker 1: the smaller stuff.
• 8:29
  Speaker 3: Right.
• 8:30
  Speaker 1: But anyway, that's you know, that's even here nor there.
• 8:32
  Speaker 1: But what I think people need to realize is Trump
• 8:35
  Speaker 1: says we want to make America great again. In fact,
• 8:37
  Speaker 1: I put out a post last night on X about this.
• 8:40
  Speaker 1: People can follow me on X what was again make
• 8:45
  Speaker 1: America great again? So when was again? No one's mentioned that.
• 8:50
  Speaker 1: So can we agree Kerrie that America would be great
• 8:54
  Speaker 1: again if there was no deficit?
• 8:56
  Speaker 3: Can we agree on that? Yeah? Well sure, right?
• 8:59
  Speaker 1: Can we agree that America will be great again? The
• 9:03
  Speaker 1: economy was booming and.
• 9:06
  Speaker 3: They're getting rid of the regulation which they're doing just
• 9:10
  Speaker 3: loan as others.
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  Speaker 1: The last time America, the last time America didn't have
• 9:15
  Speaker 1: a death sit in communist booming was a Clinton administration.
• 9:19
  Speaker 1: That's just a fact. You don't get to have an
• 9:20
  Speaker 1: opinion about that. That's a fact, right, Yeah. That was
• 9:24
  Speaker 1: one of the strongest economies in modern history, and Clinton
• 9:28
  Speaker 1: was super pro small business. So again, you don't have
• 9:31
  Speaker 1: to be a you know, a genus to feel all this.
• 9:33
  Speaker 3: Stuff that great. But look, but look, what is better
• 9:39
  Speaker 3: for small business getting loans for them or getting the
• 9:43
  Speaker 3: government the hell out of the way, Because like in
• 9:46
  Speaker 3: places like New York and California, they make it completely
• 9:49
  Speaker 3: impossible for you, And even in places like Florida where
• 9:53
  Speaker 3: I am now and in less more or less a
• 9:57
  Speaker 3: fair state, shall we say, still difficult. So what will
• 10:01
  Speaker 3: be better getting rid of the regulation or giving people
• 10:06
  Speaker 3: more money?
• 10:08
  Speaker 1: The best thing would be to comply with a Small
• 10:09
  Speaker 1: Business Actor of nineteen fifty three and the largest economics
• 10:14
  Speaker 1: Timbers program in history of America and give the middle
• 10:18
  Speaker 1: class but twenty three percent of all contracts that the
• 10:20
  Speaker 1: law mandates. That'd be the first thing. And then if
• 10:24
  Speaker 1: you look at regulations, I'll tell you something. You know,
• 10:26
  Speaker 1: I've heard this for many years. There are regulations that
• 10:31
  Speaker 1: I think are unnecessary. But generally speaking, when people talk
• 10:35
  Speaker 1: about regulations about small businesses, they're really talking about regulations
• 10:40
  Speaker 1: that big businesses you don't want to get rid of. Right,
• 10:42
  Speaker 1: But yeah, anyway, it would be much better, I get it.
• 10:48
  Speaker 1: If we want to make America great a get If
• 10:50
  Speaker 1: that's your goal, you got to realize number one, America's
• 10:54
  Speaker 1: nine to nine point numbercent small businesses. Sure, of course,
• 10:58
  Speaker 1: the only agency to help them is THISBA number three,
• 11:02
  Speaker 1: the largest economist, temuchgram for the American people is a
• 11:04
  Speaker 1: small business act. Let's get that implemented. And that hasn't
• 11:08
  Speaker 1: been implemented.
• 11:09
  Speaker 3: By the way.
• 11:10
  Speaker 1: If you go to your computer and google Fortune fire
• 11:12
  Speaker 1: refirms getting small business contracts, there's a multitude of stories.
• 11:16
  Speaker 1: I actually prompted the first fatal investigation of that, I
• 11:18
  Speaker 1: think in two thousand and two, and I found thousands
• 11:23
  Speaker 1: of the largest companies in the world getting federal small
• 11:25
  Speaker 1: business contracts. I proper the congressional investigation of Associated Press
• 11:30
  Speaker 1: for astor about it in every newspaper in the country.
• 11:32
  Speaker 1: And it's still going on. So it's twenty twenty five.
• 11:35
  Speaker 1: And in twenty twenty two I testified for Congress that
• 11:38
  Speaker 1: eighteen and T was getting small business contracts right, and
• 11:41
  Speaker 1: it's still going on. So again, if we want to
• 11:43
  Speaker 1: make Americle great again, you got to realize America's small businesses.
• 11:48
  Speaker 1: The SPA is the only agency to help them.
• 11:50
  Speaker 3: Yeah, I agree with you. I've always been in a
• 11:53
  Speaker 3: small business myself, but I've always avoided the government. You know,
• 12:00
  Speaker 3: what are the most what are the most dangerous words
• 12:03
  Speaker 3: in the English language is regu Yeah I'm near to hell?
• 12:07
  Speaker 3: Well yeah, yeah, like break out the vasoline?
• 12:11
  Speaker 1: Right, yeah, I'll tell you something. Here's another thing that
• 12:14
  Speaker 1: people don't understand. The Small Business Act is an economics
• 12:18
  Speaker 1: Stemmers program. And let's just say, if you're a school
• 12:22
  Speaker 1: teacher of Miami, are you working disworld in Orlando? You
• 12:26
  Speaker 1: should be concerned about the SVA having the lowest budget
• 12:29
  Speaker 1: in history because when that money goes into middle class economy,
• 12:34
  Speaker 1: it creates, you know, prosperity and there's more money for everybody.
• 12:38
  Speaker 1: But people get confused, think, well, you know, I've got
• 12:42
  Speaker 1: a barbershop, you know, in Fort Lauderdale. Why do I
• 12:45
  Speaker 1: care about the SBA and government loans. It's the largest
• 12:48
  Speaker 1: economics timbers program in history, but middle class nobody knows that.
• 12:52
  Speaker 1: I'll tell you something fascinating. I'm surprised that no one
• 12:57
  Speaker 1: knows about the Census Scureau data. It's quite surprising. Here's
• 13:02
  Speaker 1: a no statistic, by the way, that nobody knows women
• 13:04
  Speaker 1: are half the population. They owned forty two percent business
• 13:08
  Speaker 1: in America And every year of your life, Carrie, companies
• 13:11
  Speaker 1: on my men have gotten over ninety five percent of
• 13:14
  Speaker 1: all pedal contracts. Nobody knows that. I've never heard a
• 13:18
  Speaker 1: women's group on television complaining about that.
• 13:20
  Speaker 3: Right, I'm gonna throw a number at you. Just look
• 13:25
  Speaker 3: this up. The SBA seven a loan program, right, you
• 13:30
  Speaker 3: know about that loan? Do you know what the loan
• 13:34
  Speaker 3: default rate was for twenty twenty four? No, but i'
• 13:38
  Speaker 3: but it's pretty high. It's actually extremely low, like lower
• 13:42
  Speaker 3: really credit card default rate three point sixty nine percent.
• 13:47
  Speaker 1: That was a default rate on SBU loans.
• 13:49
  Speaker 3: Yeah, for twenty twenty four.
• 13:51
  Speaker 1: Well, let's be you know what. That's a thank you, Carrie.
• 13:54
  Speaker 1: I did not know that statistic. That's fantastic, right, that
• 13:57
  Speaker 1: doesn't bet up.
• 13:58
  Speaker 3: Lower down the credit learned default rate?
• 14:01
  Speaker 1: Yep, Well again the sp doesn't you know? Uh, loan
• 14:07
  Speaker 1: money the banks do. So you're you're getting a loan
• 14:09
  Speaker 1: from your.
• 14:09
  Speaker 3: Bank, you can't count play.
• 14:12
  Speaker 1: Banks are very careful. You got to have collateral this
• 14:14
  Speaker 1: kind of stuff. You're so, I guess that doesn't surprise me.
• 14:17
  Speaker 3: But let me maybe have some more numbers. All right,
• 14:21
  Speaker 3: go ahead, love this better. You know what the rate
• 14:23
  Speaker 3: was in twenty twenty No, one point two percent with
• 14:29
  Speaker 3: a charge off rate of point one five wow, twenty
• 14:35
  Speaker 3: twenty two? Two percent, all right, twenty twenty three for
• 14:41
  Speaker 3: acquisition loans of all sizes one point oh four percent.
• 14:47
  Speaker 3: That's the default, right, Yeah, that was the default rate,
• 14:51
  Speaker 3: and that increased.
• 14:52
  Speaker 1: Now, what do you think now about the SPA lending program?
• 14:56
  Speaker 3: Tore it increased by Okay, no, they've got to twenty
• 15:01
  Speaker 3: twenty two. The small business default rate increased from two
• 15:04
  Speaker 3: percent in December twenty two to three percent and twenty three,
• 15:09
  Speaker 3: which is below the historical rate of six point four
• 15:13
  Speaker 3: percent in October nine. Don't forget o nine we were
• 15:16
  Speaker 3: having the worst recession. Right, where are you getting that information?
• 15:20
  Speaker 3: I'd love to see that off of Google and I
• 15:24
  Speaker 3: will shoot it off to you. So point the point
• 15:27
  Speaker 3: is they've you know, they're they're underwriting rates pretty good.
• 15:33
  Speaker 3: In if you're buying a business and you get an
• 15:35
  Speaker 3: acquisition loan, the default rates are like less than half.
• 15:40
  Speaker 3: So that shocking. So government doesn't take much risk and
• 15:45
  Speaker 3: they get a huge benefit because presumably the companies that
• 15:49
  Speaker 3: are succeeding are paying taxes, they're hiring employees who are
• 15:53
  Speaker 3: paying taxes, and you have the multiplier effect, right.
• 15:57
  Speaker 1: Absolutely, you know what, I like the word ultiplier fick.
• 16:01
  Speaker 1: That is very applicable when you think about the Small
• 16:04
  Speaker 1: Business Act and giving twenty three percent of all federal
• 16:07
  Speaker 1: contracts with small businesses.
• 16:10
  Speaker 3: Yeah.
• 16:10
  Speaker 1: I was talking to some of the other day and
• 16:11
  Speaker 1: they pull up a statistic that says for every dollar
• 16:15
  Speaker 1: of the SBA budget, the American people get seventeen hundred dollars
• 16:18
  Speaker 1: of benefits, right, and that's you know, that makes sense.
• 16:22
  Speaker 1: But again, the SDA should be one of the largest
• 16:25
  Speaker 1: agency to government who represents ninety nine point nine percent
• 16:28
  Speaker 1: of all the business in America. Yeah, but it's I'll
• 16:31
  Speaker 1: tell you something. I've been predicting on social media that
• 16:35
  Speaker 1: they'll try to close the SBA within the next I'll
• 16:38
  Speaker 1: say sixty days.
• 16:39
  Speaker 3: Really.
• 16:40
  Speaker 1: Yeah, Well, you know, I've been in I've been in
• 16:44
  Speaker 1: every office in Congress. I've spent years lobbing Congress. I've
• 16:48
  Speaker 1: met most of the presidents of my lifetime, and I've
• 16:50
  Speaker 1: been suing the government for thirty five years, what over
• 16:53
  Speaker 1: one hundred and ten legal battles against the government and
• 16:57
  Speaker 1: Washington is run by Fortune five nred firms, not small.
• 17:00
  Speaker 1: Let me ask you a question. Here's a good question.
• 17:03
  Speaker 1: It's a rhetorical question. What's the strongest lobby group for
• 17:06
  Speaker 1: small businesses in America? There is it one, right, it's
• 17:11
  Speaker 1: probably me.
• 17:11
  Speaker 3: You're the one. I go to me on Lloyd. Yeah,
• 17:16
  Speaker 3: it's all up to you. The fail of the small
• 17:20
  Speaker 3: business in America is resting upon resting in your hands.
• 17:26
  Speaker 1: I put a challenge out on the X a few
• 17:29
  Speaker 1: months ago. I said, I've got a thousand dollars reward
• 17:32
  Speaker 1: for the first person can find anybody in America on
• 17:35
  Speaker 1: television more than me objecting to the governor getting small
• 17:39
  Speaker 1: business contracts to Fortune five of the firms. Nobody could
• 17:42
  Speaker 1: do it right. About ten years ago, I hired a
• 17:47
  Speaker 1: guy named Daniel Swerdling, and I want to do some
• 17:50
  Speaker 1: research about my media footprint America. And I said, I
• 17:52
  Speaker 1: think my media footprint is ten times bigger than anyone else.
• 17:56
  Speaker 1: He came back and he said, your Meatia footprint is
• 17:59
  Speaker 1: a thousands bigger than everyone combined that is involved in
• 18:05
  Speaker 1: you know, small business autocacy. Write But it's yeah, it's
• 18:09
  Speaker 1: shouldn't be the way there should be.
• 18:10
  Speaker 3: There should be one hundred guys like me. Y, but uh,
• 18:14
  Speaker 3: you're a small business evangelical, right.
• 18:17
  Speaker 1: Yeah, you know there should be one hundred guys like me.
• 18:20
  Speaker 3: Uh.
• 18:21
  Speaker 1: The well, I'll tell you something funny. My life changed
• 18:24
  Speaker 1: about twenty years ago when some article came out and
• 18:27
  Speaker 1: said I was a modern day Caesar Shaw, best for
• 18:29
  Speaker 1: small businesses. Oh, the government didn't like the Goud says, no, no,
• 18:34
  Speaker 1: that's not going to have that's no.
• 18:37
  Speaker 3: I damn, you don't like him. He's young, y.
• 18:40
  Speaker 1: Yeah, they didn't like that. So I used to People
• 18:43
  Speaker 1: used to write so many stories about me without even
• 18:45
  Speaker 1: talking to me. So as I was having breakfast, I
• 18:47
  Speaker 1: would google my name and find the new stories and
• 18:50
  Speaker 1: put on my website.
• 18:51
  Speaker 3: Right.
• 18:51
  Speaker 1: So on Monday, you know, I google my name and
• 18:54
  Speaker 1: there was about I would say, fifty pages on Google
• 18:57
  Speaker 1: of stories about about me. I don't when see I
• 19:00
  Speaker 1: googled this is a true story. On Wednesday, I googled
• 19:02
  Speaker 1: my name and I was completely gone off the internet,
• 19:05
  Speaker 1: gone like I had.
• 19:06
  Speaker 3: Never exercized, you know what Celtics.
• 19:11
  Speaker 1: And it turned out that Google did it.
• 19:14
  Speaker 3: Of course they did. Yeah.
• 19:15
  Speaker 1: Well at that time, I was, uh, no matter who
• 19:18
  Speaker 1: the president is.
• 19:19
  Speaker 3: By the way.
• 19:19
  Speaker 1: I'm I'm I'm not happy with him quite frankly. You know,
• 19:22
  Speaker 1: no matter who the president is, Fortune and five one
• 19:24
  Speaker 1: firms get small business contracts espa. He's got a teeny
• 19:27
  Speaker 1: tiny budget.
• 19:28
  Speaker 3: You know.
• 19:28
  Speaker 1: So I've sued every president I guess since Reagan. Right,
• 19:33
  Speaker 1: But and I was on TV talking about Obama. I
• 19:37
  Speaker 1: went on the Neil Cavudo Show to call Obama con
• 19:39
  Speaker 1: man a liar. And that's what got me. Uh this
• 19:43
  Speaker 1: is this is back before the word canceled was in
• 19:46
  Speaker 1: the culture. I got canceled.
• 19:48
  Speaker 3: Hey, I would have thought it like that would make
• 19:50
  Speaker 3: you popular. He should have been proud of that, right
• 19:52
  Speaker 3: you know what?
• 19:53
  Speaker 1: Uh Well, it turns out that the guy that was
• 19:56
  Speaker 1: president of the company that owned Google was personal friends
• 19:59
  Speaker 1: with Obama. I think his name was Eric Shields, and
• 20:04
  Speaker 1: as a favorite to Obama, he you know, wiped me
• 20:06
  Speaker 1: off the planet. I got letters from every I was
• 20:10
  Speaker 1: a popular blogger on the Huffington Post. I used to
• 20:12
  Speaker 1: talk to her to Huffington you know where she was
• 20:14
  Speaker 1: in her kitchen. You know, I got I got canceled
• 20:20
  Speaker 1: across all media to some degree. It's it's kind of
• 20:22
  Speaker 1: still present today. But doesn't want anybody organizing small businesses,
• 20:28
  Speaker 1: that would be their worst nightmare.
• 20:31
  Speaker 3: Well, that would be like organizing, uh organizing people to
• 20:37
  Speaker 3: cross party lines and two to really uh unite. They
• 20:45
  Speaker 3: don't want it. And if we could unite from our
• 20:47
  Speaker 3: economic interest, then we certainly could unite otherwise. Hey, So
• 20:55
  Speaker 3: I don't know Trump, though the Trump Organization deals with
• 21:00
  Speaker 3: thousands and thousands of small businesses. It's not like Trump
• 21:03
  Speaker 3: is not educated about the benefits of small business.
• 21:09
  Speaker 1: Well again, I'm I've worked on six presidential campaigns. When
• 21:15
  Speaker 1: I was a child, I remember going to elementary school with
• 21:17
  Speaker 1: a penss I like ike. My father was Republican, right.
• 21:21
  Speaker 1: Reagan tried to close the SBA. Yeah, on my website,
• 21:23
  Speaker 1: I've got the ABC News story from nineteen eighty five.
• 21:26
  Speaker 1: So David Stockman and so Reagan tried to close the SBA,
• 21:29
  Speaker 1: and when he couldn't close it, he changed a small
• 21:32
  Speaker 1: business side standard from one hundred to five hundred. Think
• 21:35
  Speaker 1: about you know, we're boxing and you've got the middleweight
• 21:40
  Speaker 1: weight is you know, one hundred and seventy and you
• 21:42
  Speaker 1: raise that to you know, three hundred. Right, So that's
• 21:45
  Speaker 1: what they did. They in changing the small business start
• 21:48
  Speaker 1: from one hundred and five hundred. You forced the average
• 21:51
  Speaker 1: American company, the ten employees, to compete with companies with
• 21:53
  Speaker 1: up the five employees.
• 21:55
  Speaker 3: You can't do that.
• 21:56
  Speaker 1: It's you can't really compete, right, So the purpose of
• 21:59
  Speaker 1: the Small Business Act just kind of break small businesses down,
• 22:01
  Speaker 1: kind of like any other sport, you know, and have
• 22:05
  Speaker 1: small business compete to get small businesses. But so Reagan
• 22:09
  Speaker 1: tried to close it. Borsch tried to close it. That's
• 22:12
  Speaker 1: well documented. I oppose that, right, and then actually Obama
• 22:17
  Speaker 1: tried to close it. That's also well doc You can
• 22:19
  Speaker 1: you can you can google Reagan closed the SBA. Bush
• 22:22
  Speaker 1: closed the SBA, or BABA closed the SBA, and you'll
• 22:25
  Speaker 1: you'll see all the stories. I'm in all of them.
• 22:27
  Speaker 1: And then again when Trump took office, you know, the
• 22:30
  Speaker 1: SBA was the lowest budget in forty years. He cut
• 22:32
  Speaker 1: it again. But I've got a friend, I'm not sure
• 22:36
  Speaker 1: if he still has. His name is Jerry Glover. He's
• 22:37
  Speaker 1: a huge small business advocate. Every small America owed Jerry
• 22:41
  Speaker 1: Glover if they had a gratitude, and he was a
• 22:44
  Speaker 1: friend of Bill here with Clinton. Clinton appointed him behead
• 22:47
  Speaker 1: of the sb Office of Accusty and Jerry said, one
• 22:50
  Speaker 1: day Bill called him up and said, you know, come
• 22:52
  Speaker 1: in the over office and they said, Jerry, I'm under
• 22:54
  Speaker 1: tremendous pressure to close the SBA. And Jerry said, well,
• 22:57
  Speaker 1: mister President, if you want a stronger car to me,
• 23:00
  Speaker 1: you know, ninety nine percent of oicems of small bus
• 23:02
  Speaker 1: you have to have small business programs. So Clinton didn't
• 23:05
  Speaker 1: close it. He you know, was super pro small business
• 23:08
  Speaker 1: and expanded the SBA. And again, if you look back
• 23:11
  Speaker 1: over your lifetime Carrie and mine, I think the stronger
• 23:14
  Speaker 1: economy was a Clint administration, right, But I think there
• 23:18
  Speaker 1: was a lot of factors. But again it's just it's logical.
• 23:22
  Speaker 1: It's like two and two is four, right, ninety nine
• 23:24
  Speaker 1: nine percent of all firms of small businesses, they create
• 23:27
  Speaker 1: ninety five percent of net new jobs. If you have
• 23:29
  Speaker 1: a stronger commedy, you have to have strong small business programs.
• 23:32
  Speaker 1: And I'm not hopeful about the future of the SBA
• 23:35
  Speaker 1: in this current administration.
• 23:37
  Speaker 3: Yeah. Well, unfortunately, you know, uh country is desperate in
• 23:42
  Speaker 3: dire straits and the sometimes the baby is going to
• 23:47
  Speaker 3: get tossed out with the bathwater. Right.
• 23:49
  Speaker 1: Yeah, you know what, I'll tell you something I've been
• 23:52
  Speaker 1: predicting on social media for about six weeks that we're
• 23:55
  Speaker 1: going to have a tremendous economic turndown, and then I
• 23:59
  Speaker 1: guess it was maybe two weeks ago that started coming
• 24:02
  Speaker 1: out in the news. So I was at Las Vegas
• 24:04
  Speaker 1: when I saw on the news that the stark market
• 24:06
  Speaker 1: had gone down and they're talking about recession. But I
• 24:10
  Speaker 1: predicted that six weeks ago. We're thirty six trullion in debt.
• 24:15
  Speaker 1: Most people don't know that the interest on the debt
• 24:18
  Speaker 1: goes up a trillion dollars every one hundred days. Can
• 24:22
  Speaker 1: you imagine that? That's just sort of incomprehensible, right.
• 24:26
  Speaker 3: So we got to do something here.
• 24:28
  Speaker 1: Well, you know, again, I'm not a Democratic Republican. I'm
• 24:32
  Speaker 1: just a normal person with a logical mind. We're thirty
• 24:37
  Speaker 1: six trueing in debt. The govern Accountability Office put a
• 24:40
  Speaker 1: report in twenty twenty three said thirty four percent of
• 24:42
  Speaker 1: the largest most profitable companies in America pay no income tax.
• 24:46
  Speaker 1: You can google Fortune five refirms pay no income tax.
• 24:50
  Speaker 1: There's a number of Fortune five refirms that pay little
• 24:52
  Speaker 1: to no income tax. And Trump's talking about more tax cuts.
• 24:56
  Speaker 1: I don't think we need tax cuts. I think we
• 24:58
  Speaker 1: need we need everyone paying their fare share.
• 25:00
  Speaker 3: Does that make sense to you, Yeah, well, who pays
• 25:03
  Speaker 3: corporate taxes? You know that we could get into a
• 25:06
  Speaker 3: debate about that. But point is that a lot of
• 25:12
  Speaker 3: the reason why we're in this mess now is because
• 25:14
  Speaker 3: of government policies in the first place, not just related
• 25:18
  Speaker 3: to the SBA, but everything else. So if we can
• 25:21
  Speaker 3: make the government more efficient, less corrupt, then hopefully we
• 25:28
  Speaker 3: can get out of this mess. I've just written an article,
• 25:30
  Speaker 3: by the way, Lloyd, that the whole purpose of the
• 25:33
  Speaker 3: Bitcoin National Reserve is to pump bitcoin up to ten
• 25:37
  Speaker 3: million dollars a coin and then well and then turn
• 25:41
  Speaker 3: around and pay off the national debt with bitcoin. And
• 25:46
  Speaker 3: it's kind of a brilliant strategy when you get down
• 25:49
  Speaker 3: to it. It's in Financial Survival Network dot com right now, Lloyd,
• 25:54
  Speaker 3: tell us again where we find you and how we
• 25:56
  Speaker 3: connect with you.
• 25:57
  Speaker 1: Asbl dot com and follow me on. I put up
• 26:01
  Speaker 1: videos almost every day, and you can google well American
• 26:05
  Speaker 1: Small Business League, Lloyd Chopping dot com and uh yeah,
• 26:10
  Speaker 1: follow me on next. I put up interesting videos pretty
• 26:12
  Speaker 1: much every day.
• 26:12
  Speaker 3: All right, Hey, appreciate that. Appreciate you coming on you
• 26:15
  Speaker 3: a question for Lloyd myself, shoot me an email. Klatcarrieluts
• 26:19
  Speaker 3: dot com. Link to his site is in the show
• 26:22
  Speaker 3: notes to this interview on Financial Survival Network dot com.
• 26:26
  Speaker 3: And when you're there, we just asked that you subscribe,
• 26:28
  Speaker 3: like over seventy thousand nearly seventy five thousand other FSN
• 26:32
  Speaker 3: members have and Lott, we'll talk to you again real soon.
• 26:36
  Speaker 3: Thanks for coming on.
• 26:37
  Speaker 1: Thank you, Kerri. Good to talk to you, buddy.
• 26:39
  Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network. Your
• 26:43
  Speaker 2: solution to today's trying times. For the latest, go to
• 26:47
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than
• 26:53
  Speaker 2: ever